AmMetLife Insurance Berhad (“AmMetLife”) has launched Flexi TermLife, a new insurance solution that offers customers the flexibility to customise their plan according to their needs and budget, with optional add on benefits or riders to increase their savings.
Lee Jiau Jiunn, Chief Executive Officer, AmMetLife Insurance Berhad, launched the new product to AmMetLife agents and Senior Management at the company’s virtual annual agency awards ceremony.
Speaking at the launch, Lee said, “The pandemic has further highlighted the importance of financial and health protection. Flexi TermLife gives customers 20 years of coverage for five or 10 years of payments and allows customers to flex their savings needs by giving them options for additional benefits and cash, ensuring our customers can confidently lead a well-protected life.”
Flexi TermLife is a traditional non-participating term life plan, which provides coverage in the event of death and total and permanent disability. With a limited premium payment term of either five years or 10 years, customers are assured coverage for 20 years. Customers additionally have the option to add two different “riders” to their plan:
1. An Income Rider which pays out a yearly guaranteed cash payment starting from the end of the second contract year of the rider.
2. A Maturity Rider, which provides a guaranteed maturity benefit upon the expiry date of the rider, can also be added to the term life plan to further increase the policy value.
Both riders have a “booster” feature that provides further savings potential to customers through non-guaranteed incremental enhancements, depending on prevailing market conditions.
–Bernama–
