Zurich Malaysia offers the ultimate convenience for first time buyers with launch of SureCover plans
Kuala Lumpur, June 21, 2018
– In line with its commitment to expand its product propositions to meet the needs of the wider population segment, Zurich Malaysia (Zurich Life Insurance Malaysia Berhad and Zurich Takaful Malaysia Berhad) recently introduced Zurich SureCover and Takaful SureCover, both of which are life protection plans that offer customers hassle-free application and affordable coverage from as low as RM75 a month. Its ‘guaranteed acceptance’ feature allows customers to secure these plans regardless of their health conditions and occupation classes.
Industry statistics have shown that the insurance and takaful penetration rate has remained fairly static within the range of 54% to 56% over the last five years1 which includes those who own multiple insurance and takaful covers. If double-counting is eliminated, only 35% of Malaysians are insured2. Furthermore, only 4% of lower income households have some form of life insurance or family takaful cover1.
Mukesh Dhawan, General Manager of Life Insurance and Family Takaful for Zurich Malaysia, explains the companies’ efforts in enabling more Malaysians to obtain protection for themselves and their loved ones without having to worry about medical check-ups and hefty premium commitments. “At Zurich, we believe the experience of owning or purchasing your first insurance or takaful plan should be straightforward, hassle-free and easy on your finances. With Zurich SureCover and Takaful SureCover, we have simplified the application process to help and motivate as many people as possible to secure adequate protection, irrespective of their health conditions. They are ideal plans that provide the ultimate convenience especially for first-timers.”
Key features and benefits of Zurich SureCover and Takaful SureCover include:
- Guaranteed acceptance from age 35 up till age 80
As both of its names suggest, Zurich SureCover and Takaful SureCover offer a unique Guaranteed Acceptance feature; it is open to anyone between the ages of 35 and 80 years old regardless of their health conditions or occupation classes.
- Hassle-free application with no medical check-ups required
Customers are not required to complete any medical questionnaires or go through the hassle of medical check-ups prior to purchasing any of these plans.
- Coverage till old age
Customers can enjoy the rewards of a well-lived life as Zurich SureCover and Takaful SureCover provide coverage up to age 100 and 90 respectively.
- Affordable protection from as low as RM75 per month
From only RM75 per month, the plan offers great benefits designed with customers in mind.
- Guaranteed Death Benefit with high Accidental Death Benefit
Benefits for non-accidental and accidental death shall be payable in the event that the Life Assured or Person Covered meets with an untimely demise. The benefit payable for accidental death is up to 500% of the Basic Sum Assured or Basic Sum Covered; or the Total Premiums Paid or Total Contribution Made (whichever is higher).
- Maturity Benefit
Zurich SureCover customers will receive a lump sum payment of 188% of the Total Premiums Paid at the end of the policy year after their 100th birthday while Takaful SureCover customers will receive an amount equivalent to the Participant Investment Account value after their 90th birthday.
- Repatriation Benefit
Reimbursement up to RM 3,000 to send the mortal remains of the Life Assured or Person Covered back to their home country; if any unfortunate event takes place whilst traveling outside of Malaysia.
For more information on Zurich SureCover and Takaful SureCover, customers may speak to their respective Zurich Sales Advisors or Takaful Consultants, or contact Zurich’s Call Centre at 1-300-888-622. Alternatively, visit www.zurich.com.my.1 Financial Stability and Payment Systems Report 2016, Bank Negara Malaysia
2 Governor’s Keynote Address, Malaysian Insurance Summit (MIS) 2017
Zurich Insurance Group
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 54,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com
Zurich Life Insurance Malaysia Berhad
Zurich Life Insurance Malaysia Berhad (ZLIMB), as part of Zurich Insurance Group, is an established life insurer headquartered in Kuala Lumpur. Through its diverse range of life insurance products, ZLIMB provides protection, medical and health, savings and investments solutions to address its customers’ financial security needs. Together with its dedicated employees, agency force, distributors and partners, supported by more than 25 branches nationwide, ZLIMB is committed to help its customers understand and protect themselves from risks. Additionally, shariah-compliant family takaful solutions are made available to customers through its sister company, Zurich Takaful Malaysia Berhad. Further information about ZLIMB, visit www.zurich.com.my
Zurich Takaful Malaysia Berhad
Zurich Takaful Malaysia Berhad (ZTMB) is one of Malaysia’s leading family takaful operators. It is a member of Zurich Insurance Group and the sole provider of shariah-compliant family takaful products within Zurich. With more than a decade of Takaful market expertise, ZTMB offers protection, medical and health, savings as well as investments solutions to address its customers’ needs at different life stages. Together with its dedicated employees, agency force, distributors and partners, supported by its nationwide branch network, ZTMB is committed to help its customers understand and protect themselves from risks. Additionally, conventional life insurance products are made available to customers through its sister company, Zurich Life Insurance Malaysia Berhad. Further information about ZTMB, visit www.zurich.com.my