KUALA LUMPUR: RHB Bank
Bhd and Tokio Marine Life Insurance Malaysia Bhd has launched Essential PrimeBuilder, an insurance plan which provides insurance coverage on Death and Total Permanent and Disability (TPD).
In a statement on Tuesday, the group said the life protection plan requires policyholders to only pay eight years of premium to enjoy life coverage up to age 88.
"Policyholders will also enjoy an additional benefit in the event of TPD due to accident.
"Policyholders will receive a yearly Guaranteed Cash Payment (GCP) starting from the end of the fifth
policy year until the policy matures," it said.
RHB added that clients can choose to receive the GCP or leave the GCP to accumulate interest to further enhance the policy’s value.
Unlike most insurance plans that cease the stream of guaranteed and regular income upon occurrence of Death or TPD, Essential PrimeBuilder will advance all unpaid GCP in one lump sum.
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