Protection and savings plan for teachers

  • Metro News
  • Thursday, 17 May 2018

Mukesh says in order to be eligible for the Zurich Favour8 privilege, the applicant must be a teacher at any public or private academic institution.

ZURICH Life Insurance Malaysia Bhd (ZLIMB) is honouring educators nationwide with an exclusive privilege.

In celebration of Teachers Day, ZLIMB has made it easier for teachers to obtain insurance protection through Zurich Favour8, a unique endowment plan that offers protection, savings and investment opportunities.

“This simplified product is straightforward as financial underwriting is waived for annual premium of less than RM30,000, speeding the process along.

“On top of that, interest is waived for any payment mode whether it is monthly, quarterly, semi-annually or annually, and that adds up to 5% of savings.

“The only requirement to be eligible for this privilege is that the applicant has to be a teacher at any public or private academic institution,” said ZLIMB general manager Mukesh Dhawan.

Zurich Favour8 is an attractive plan that requires the payment of eight years of premiums for the insured person to enjoy long-term cash savings and protection for over 20 years.

Open to anyone aged between 30 days and 65 years old, Zurich Favour8 is an endowment plan that offers guaranteed cash back plus potential returns through its investment features.

Mukesh emphasised that introducing this exclusive package is the company’s way of thanking teachers’ selfless commitment to building the nation of tomorrow.

“Teachers play a significant role in creating the future leaders of our nation.

“We cannot thank them enough for their crucial role in ensuring every student receives quality education while inspiring and empowering them to achieve their full potential,” he said, adding that the product could be ideal to supplement retirement savings or as an education fund for children.

He added that there are more products in the pipeline targeted at the teachers market segment such as a group insurance product for teachers associations, and hopes to introduce it by the fourth quarter of this year.

Mukesh said Zurich was also expanding the insurance market into this market segment by creating a new growth platform through this initiative.

“Teachers will be one of our vital markets for growth this year,” he said, adding that teachers could create a positive referral effect towards parents and students.

He added that this initiative was also in line with Bank Negara Malaysia’s target to increase the national insurance penetration rate to reach 75% in 2020.

Currently, there are about 10,000 agents across 27 locations nationwide, continuously reaching out and catering to the expanding potential customer base.

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