Malaysia: Manulife launches legacy insurance plan with bancassurance partner

| 14 Mar 2024

Manulife Malaysia and its bancassurance partner has launched EliteLife Signature Legacy, a comprehensive yet flexible legacy insurance plan that offers high insurance coverage, extended disability coverage plus loyalty rewards and bonuses. The plan is underwritten by Manulife Insurance Berhad and distributed by its bancassurance partner, Alliance Bank Malaysia. Customers can sign up for this plan at all Alliance Bank branches nationwide.

The EliteLife Signature Legacy is tailored to address the evolving needs of individuals aiming to secure their financial legacies, which covers estate creation, fair inheritance, and wealth protection beyond generations.

The plan helps safeguard lifelong legacy that includes Senior Care Benefit to support individuals with disability coverage up to their golden age in the event of Old Age Disability from age 70 onwards, the insured will receive face amount of up to MYR2 million or account value, whichever is higher. 

Furthermore, the plan offers special bonuses and loyalty rewards to ensure continuous protection for customers:

  • A welcome bonus of 3% of the insurance premium is offered for the first two years of policy.
  • A loyalty bonus of 0.5% of the account value is offered every two years, commencing from the 10th policy year onward.
  • An income booster of 5% and 8% of the account value is offered at the end of the 15th and 20th policy year.

"Cultivating a lasting legacy requires a strategic blend of foresight and protection. With EliteLife Signature Legacy, we are empowering individuals to create enduring financial security, ensuring thoughtful legacy planning to shield against unforeseen challenges. Our innovative legacy planning product is not just an insurance solution. It's a testament to our commitment to safeguarding the future, ensuring that generations to come inherit the strength of financial security" said Ms Vibha Coburn, Chief Executive Officer, Manulife Malaysia. 

"Legacy planning transcends mere financial foresight; it's about weaving a narrative of resilience and prosperity for the generations that follow. True legacy preservation is an art form, a delicate balance between astute financial strategies and unwavering protection. In an ever-evolving landscape, this product reflects our dedication to shaping legacies that withstand the test of time, creating a lasting impact that resonates through the tapestry of family history" Ms Coburn added, reported MarketScreener.