KUALA LUMPUR: Allianz Malaysia, one of Malaysia's leading general insurers, has introduced three more budget-friendly products for its Rahmah Insurance initiative.
The initiative looks to provide affordable insurance solutions for private cars and life insurance via the company's new Private Car Rahmah Package and 'Allianz Kasih4All' life insurance products respectively.
The comprehensive Private Car Rahmah Package and third party, fire and theft coverage (TPFT) includes a personal accident relief of RM5,000 in the event of death or disablement, hospital allowance of RM50 per day for 60 days as a result of hospitalisation from an accident and a one-time flood relief benefit of RM3,000.
The package is automatically offered to Allianz Private Car TPFT policyholders as well as Private Car Comprehensive customers who own vehicles with a displacement of 1,500cc or less and an insured sum of RM30,000 or below.
The policy takes aim at a specific band of income earners who generally own such vehicles.
(From left) Allianz General Insurance Company (Malaysia) Bhd deputy chief sales officer Sazali Rahman, Wang, Allianz Life Insurance Malaysia Bhd chief executive officer Charles Ong and Allianz Malaysia chief product officer Ooi Haw Yun.
The introduction of the Allianz Kasih4All life insurance policy effectively makes the company the first life insurer to offer a Rahmah Life insurance product.
The new policy is an annually renewable, non-participating term plan with coverage for those up to 71 years old.
The policy promises hassle-free enrollment that requires no health queries or examination.
Those interested are offered two plans (Plan 1 and Plan 2) with premiums ranging between RM35 and RM55 for those who are aged between 16 and 40.
The older a person, the higher the premium becomes, hence the policy's inability to provide such affordable coverage to those above the age of 71.
"We went one step further to address some of the added threats facing the underinsured segment," said Allianz Malaysia chief executive officer Sean Wang.
Wang added its new package covered flooding which has become more frequent in the country, especially in rural areas.
"Annually, there are about four to five major floods in the country," informed Wang who added that its effects have the potential to be quite devastating to many things, including cars.
"This is why our Rahmah Package includes a flood relief benefit that provides temporary relief for our policyholders when faced with a flood disaster," he said.
Speaking about the company's latest life insurance policy, Wang said that every Malaysian, regardless of income level, should have easy access to life insurance so that they could leave a legacy for their loved ones.
"And we sincerely hope that we have done so with this product," he said.
The newly introduced plans effectively expand Allianz Malaysia's Rahmah Insurance basket to five products which includes its previously launched PerlindunganKu Allianz4All and Allianz Motorcycle Plus.
The newly-launched plans are said to be available for purchase online and do not require an agent.
For more information, log on to https://www.allianz.com.my/personal/whats-new/rahmah-insurance.html.
