MANULIFE MALAYSIA LAUNCHES TWO INSURANCE PRODUCTS FOCUSING ON FLEXIBILITY AND AFFORDABILITY

· Manulife Universal Saver is a flexible life endowment plan that provides opportunity to build wealth while staying protected
· Manulife Easy 5 provides financial protection against five common Critical Illnesses

KUALA LUMPUR, Feb 18 (Bernama) -- Manulife Malaysia has launched two new products: Manulife Universal Saver and Manulife Easy 5, focusing on flexibility and affordability against five common Critical Illnesses in the country respectively.

Manulife Universal Saver (MUS) is a universal life endowment plan that provides an opportunity to build and optimise wealth, while helping customers achieve their financial goals. In addition, this long-term savings plan offers insurance protection against death, accidental death and total and permanent disability with added bereavement benefit.

With the limited premium payment option of 5 and 10 years, this plan has a pre-defined coverage term of 20 years where an option will be given to better manage future cash flow nearing to the policy’s maturity. To sign up for the plan, no medical and financial underwriting is required for Face Amount up to RM500,000 per life.

Manulife Easy 5 is a simple critical illness plan offering protection against five common Critical Illnesses, which are cancer, stroke, heart attack, kidney failure and coronary artery surgery. This plan, that comes with easy enrolment, provides financial protection from early to advanced stages of the covered critical illnesses, and for Intensive Care Unit (ICU) admission due to critical events.

The plan offers affordable premium with Guaranteed Survival Benefit of 50% of annualised premium, payable at the end of every five policy years. Upon death of the insured, financial assistance of RM20,000 will be payable to support bereavement costs.

“In our recently conducted Manulife Asia Care Survey,¹ there has been evidence of strong insurance appetite among millennial Malaysians, with nearly 78% Malaysians, aged between 25 and 34 years old, planning to buy insurance. The survey also showed close to half respondents, 46%, faced a decline in their monthly incomes as a result of COVID-19,” said Vibha Coburn, Group Chief Executive Officer, Manulife Malaysia.

MANULIFE MALAYSIA LAUNCHES TWO INSURANCE PRODUCTS FOCUSING ON FLEXIBILITY AND AFFORDABILITY