Source: Allianz, 3 December 2020
There is a rather simple way to find out if you need life insurance. Just ask yourself, does anyone rely on you for their financial well-being. If someone does rely on your income, that question has been answered.
And if you have underlying health conditions, is it even possible to buy insurance?
Allianz Life Insurance Malaysia Berhad’s (Allianz Life) latest offerings – Allianz 1Cover and Allianz BolehCover – focus on providing young families and mature adults with underlying health conditions with much-needed life protection coverage.
“While the repercussions of COVID-19 on our lives may seem insurmountable, this is no reason to throw in the towel and give up on making plans for the future. There is never a “best time” to do something, let alone buying an insurance plan. The only difference is that choosing to buy life insurance can and will change your family’s future for the better,” said Ooi Haw Yun, Chief Product Officer of Allianz Life.
Providing financial security to young families
It is recommended that young earners with families ought to secure roughly between 10 to 15 times their income to properly build a form of financial safety net for their families.
Priced from as low as RM0.85 per day, Allianz 1Cover is an affordable 30-year term plan that offers those aged between 16 and 45 years old a life protection plan, with a choice of a Sum Insured of RM50,000, RM100,000, or RM200,000.
The Death Benefit coverage includes an amount up to one-time the Sum Insured for Death (non-accidental), twice the Sum Insured for Accidental Death, and three times the Sum Insured for Accidental Death while in a Public Transport, or an Elevator or in a burning Public Building. These additional Accidental Death benefits will be payable before the Insured turns 71 nearest birthday. Thereafter, a one-time the Sum Insured shall be payable for accidental death until the end of the coverage term.
“Everyone has varying levels of financial commitments from hire purchase loans, home mortgages to rental and everyday expenses. With so much at stake, it is important to put your family in a position of being financially-able to handle life’s unexpected events comfortably,” explained Ooi.
“Finances is something we all worry about, regardless of our age or income bracket. The thought always comes back to having enough savings or not leaving the family in a bad financial position when you are no longer around. Allianz 1Cover can facilitate those needs and provide financial security and peace of mind.”
Furthermore, Allianz Life is offering hassle-free enrolment with no health questions asked, and no medical examination required with a guaranteed and level premium throughout the coverage term.
Everyone deserves the chance to be protected
Having underlying conditions is one of the biggest reasons most people are turned away by insurers. With Allianz BolehCover, that is no longer the case.
Allianz BolehCover offers individuals between 46 and 70 years old an affordable insurance plan that will see them through their golden years, up to age 100. They can still be covered under Allianz BolehCover if they have underlying medical conditions with no health questions asked, and no medical examination required.
“As you grow older, needing that sense of security in feeling financially secure is understandable, especially when you have a health condition,” said Ooi.
“Allianz BolehCover is more than just a pre-retirement life protection plan. It essentially offers some financial relief to the families and children of those previously deemed ‘uninsurable’ because of their medical history or pre-existing condition,” added Ooi.
Allianz BolehCover will pay out an amount of one-time the Sum Insured for Death up to age 100 and two-times the Insured Amount if Accidental Death occurs before the Insured turns 71 nearest birthday. Apart from that, the full Insured Amount will be payable upon policy maturity at age 100; and similar to Allianz 1Cover, it also offers a guaranteed and level premium throughout the coverage term.
To find out more about Allianz 1Cover visit allianz.com.my/allianz-1cover, and learn more about Allianz Boleh Cover at allianz.com.my/allianz-bolehcover.
For further enquiries, kindly contact [email protected] or at 1-300-22-5542, from Monday to Friday between 8.00am to 8.00pm