THE developer of Amanputra project in Sepang has teamed up with ING Insurance Bhd, State Insurance Brokers Sdn Bhd and Integrated Will Services (M) Sdn Bhd, to provide a package that allows purchasers of properties in phase 3A of the project to enjoy good returns on their investment.
Semai Ria Sdn Bhd executive director Lim Ee Keong said the alliances had enabled the company to come up with Amanputra Home Ownership & Cash Plus Plan, a unique and first of its kind of financial package.
The package, among other things, enables the company to provide single premium policies under ING Insurance's ING Capital Investment plan policy as gifts to house buyers.
“Upon maturity of 35 years, house buyers will get a projected return equivalent to the original purchase price of the house,'' he said after the signing ceremony and the launch of the package in Kuala Lumpur on Thursday.
Lim said the insurance policy would take immediate effect upon full payment of 10% of the purchase price upfront and upon execution of the sale and purchase agreement.
However in the event of death or total permanent disability (TPD), the house buyer will be entitled to a guaranteed death or TPD benefit which is 1.25 times the single premium paid or based on the net asset value at the point of death or TPD, whichever is higher.
The package includes free will writing services provided by Integrated Will Services Sdn Bhd, for non-Muslim house buyers.
“We decided to incorporate this service knowing that most non-Muslims do not have a will written on their estates and their next-of-kin will face complex legal problems claiming the estates after their deaths,'' he added.
Lim also said Semai Ria had sold out the first phase of Amanputra project and 98% of its second phase had been snapped up.
Phase 3A, scheduled for launching on Sept 6, consist of 190 units of two and two-and-a-half storey houses priced between RM216,000 and RM400,000.
Amanputra, which sprawls over 93 acres, is spread over five phases. It is expected to be fully completed in 2007.
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