KUALA LUMPUR: Malaysian Assurance Alliance Bhd (MAA Assurance) is confident of achieving RM100mil premium within a year for its newly launched Super Fortune Plan.
Chief executive officer Muhammad Umar Swift said the new endowment plan was expected to contribute 10% growth on the MAA life assurance segment this year.
“This endowment plan caters for individuals aged between 10 and 55 years. It provides guaranteed annual cash payments from the end of the 10th policy year and upon maturity, 120% of the original sum assured will be payable to the insured,” he said.
Vice president of life business development services, Chan Yok Chor, said among the highlights of the plan was that the basic premiums were payable and guaranteed to remain unchanged throughout the policy years.
Chan Yok Chor (left) and Muhamad Umar Swift at the launch of the new Super Fortunes.“The biggest difference between our plan and others available in the market is that our plan is 100% guaranteed,” he said. Chan said the plan also offered flexiblility as policy holders could opt for a payment term to suit their financial capability.
“In the event of total permanent disability before the age of 60, or death at any time during the policy duration, the insured or their loved ones will receive 100% of the sum assured,” he said.
Policyholders also had the flexibility of paying their premiums monthly, quarterly, twice a year or annually, Chan said.
Policy holders could also enhance their basic cover by attaching additional benefits or riders, he said.
“There is no restriction in this plan, you can add any riders,” he added. — Bernama
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