Insurance player, Allianz Life has partnered with RHB Trustees Berhad to help manage and protect their customers’ legacy for their family.
The partnership aims to enable customers with at least RM500, 000 as the assured sum of their insurance policy to have an insurance trust with a special fixed rate of RM500 each. Targeted customers would be those who will be signing up from now till the end of December next year.
“As insurers, we cannot stress enough the importance of legacy planning and protecting your family’s income. Acquiring assets is only one-half of your responsibilities.
“Many of us spend a lifetime accumulating wealth but place little importance on estate administration processes. There may be some who draw up wills to protect their family, but for those who do not, their beneficiaries may not inherit what is rightfully theirs,” said Joseph Gross, Chief Executive Officer of Allianz Life.
He also stressed that many fail to realise that the estate’s value may depreciate at the point of inheritance and in some circumstances, some beneficiaries end up not receiving even a single cent, due to ignorance of the estate administration process.
One of the biggest draws with a trust is avoiding long-drawn court probate and the unnecessary costs that come with it. With Insurance Trust, we can ensure family members are well taken care of,” he explained.
Tony Chieng, Chief Executive Officer of RHB Trustees also addressed that recent statistics that showed 70 percent of Malaysians do not have proper Estate or Legacy Planning in place.
“This partnership with Allianz is a key strategic step for RHB Trustees, enabling us to help more people in drawing up professional Legacy Plans to protect their loved ones,” he said.