KUALA LUMPUR: Allianz Life Insurance Malaysia Bhd launched an insurance savings plan, FlexiSaver with key features of flexibility and simplicity.
Chief executive officer Rangam Bir said on Thursday the new product was developed to encourage the habit and discipline of saving regularly.
While the savings plan is attractive in terms of its flexibility and affordability, Rangam said it only requires customers to answer one underwriting question and that is if he/she has a critical illness.
He said the entry level for the plan is RM200 a month and allows them to choose their premium term of between three to 20 years and coverage term of between 15 and 30 years.
“While the Employees Provident Fund is clearly a valuable support, statistics show that 50% of contributors exhaust their savings within five years of retirement,” Rangam said at the launch of Allianz FlexiSaver here.
The company intends to reach out to 10,000 clients within a year via this savings plan that comes with death benefit and guaranteed maturity value.
