AmMetLife Insurance Berhad launched its first product lined up for the year called “WealthAssure”, a limited payment non-participating endowment and investment-linked insurance plan which offers a combination of insurance protection, savings and investment.
WealthAssure provides Death and Total and Permanent Disability (TPD) coverage and in addition, it provides a Guaranteed Cash Payment payable every year starting from the end of policy year one.
With this benefit, customers have a choice to either receive the Guaranteed Cash Payment annually or to invest the Guaranteed Cash Payment in the chosen Investment-Linked fund of their policy at 100% allocation rate.
To enable customers to enjoy potential growth and the freedom of managing their investments for this insurance plan, WealthAssure offers customers a variety of Investment-Linked funds to choose from depending on the individual’s risk appetite.
The Account Value of WealthAssure will depend on the price of the underlying units, which in turn depends on the investment performance of the customer’s chosen fund.
However in the event of death or TPD, the Basic Sum Assured plus total remaining Guaranteed Cash Payments until maturity and Account Value will be payable in one lump sum.
Once the death or TPD coverage has been fully paid, the policy will be terminated.
WealthAssure also provides Additional Accidental Death Coverage Up To 500% Of Basic Sum Assured payable in in one lump sum on top of the Death Benefit payable if death is due to an accidental cause.
Selecting the most appropriate premium and policy term is an important factor when planning for the right protection plan which is why WealthAssure customers are offered the option to select their preferred Premium Payment Term and Policy Term.
This means customers can choose their payment term from a choice of six years, 10 years, and 20 years for the respective policy term of 20 years, 25 years and 35 years.
Once the policy reaches its maturity, customers will benefit from receiving a Lump Sum Amount which consists of the Basic Sum Assured and the Account Value.
“As we work towards being the preferred life insurer of choice in Malaysia, we want to be there for our customers every step of the way.
“We want our clients to feel safe and protected through different stages of their lives and WealthAssure has all the essential features to provide customers an all-inclusive plan ensuring them the necessary combination of Protection, Savings and Investment.
“We are certain that WealthAssure will give our clients an absolute peace of mind as they pursue more from life for themselves and their loved ones” said AmMetLife Insurance Berhad chief executive officer Ramzi Toubassy.
The launch of WealthAssure was officiated by Ramzi Toubassy together with Tai Chee Ming, chief agency officer and Ang Swee Choo, chief marketing officer whilst attended by Agency Force members of AmMetLife.
WealthAssure is an Agency product which is distributed by AmMetLife’s strong network of life insurance agents nationwide.
WealthAssure is available to individuals aged from 30 days to 60 years (next birthday) for a Policy Term of 20 and 25 years respectively.
As for a Policy Term of 35 years, it is available to individuals aged from 30 days to 50 years (next birthday) only.