A subscription-based insurance product that provides customers with the flexibility to increase or decrease their coverage amount at any time to meet their budget and ever-changing lifestyle needs is launched by Gibraltar-BSN.
Taking the cue from the popularity of subscription-based economy, the premium for i-FlexCover remains level irrespective of age and gender with the coverage term ending at 61 years old.
i-FlexCover is a pure term life plan offering comprehensive coverage for death, total and permanent disability, and accidental death. Under the plan, customers between the ages of 16-55 years old can apply for affordable coverage ranging from RM5,000 to RM150,000 for as low as RM3.90 per month.
“Not too long ago, purchasing a life insurance was a lifelong commitment with no room to adapt for unexpected life changes. Today’s customers want greater control over their policy and the power of choice to match their protection level with their evolving circumstances. By leveraging a subscription-based model, we are optimistic that i-FlexCover will appeal to customers in need of simple and affordable coverage tailor-made to their unique needs,” Gibraltar BSN Life Berhad’s Chief Executive Officer Lee Kok Wah said.
The coverage goes up threefold for accidental death in public conveyances such LRT or Grab – aother starred feature of the insurance solution.