Enjoy Long Term Cash Savings and Protection with Zurich Insurance Malaysia’s latest endowment plan - Zurich Favour8
– Whilst the need to accumulate savings for the future is becoming all the more vital, Malaysians are finding it increasingly hard to fulfil their financial obligations as the cost of living continues to rise. With the challenging economic environment, many are looking to make their money work even harder to grow their savings and fulfill their financial aspirations.
In line with its commitment to continuously provide solutions that enable customers to protect and strengthen their financial well-being, Zurich Insurance Malaysia Berhad (ZIMB) introduces Zurich Favour8, a unique endowment plan for Malaysians who are looking for short term investment commitment with long term, steady and consistent gains.
Speaking at the launch today, Philip Smith, Chief Executive Officer of ZIMB explained the company’s efforts in developing products that provide security and protection for customers. “At Zurich, we take note of the various challenges that Malaysians face in their quest to build a secure financial safety net for their loved ones. We are committed to provide holistic and intelligent protection to Malaysians so that they can live life with confidence, even in the midst of a tough economic climate. Through Zurich Favour8, we aim to promote financial wellness to our customers so that they are financially secure and will have adequate savings to fulfil their financial needs and aspirations for today, tomorrow and the future.”
Zurich Favour8 is a limited pay, non-participating endowment plan that offers guaranteed cash back plus potential investment gains through its investment feature which is available to anyone between 30 days attained age and 65 years old. Zurich Favour8 requires customers to pay premiums for eight (8) years only. For a relatively short term commitment, customers get to enjoy long term cash savings and protection over 20 years.
Zurich Favour8 rewards customers with guaranteed annual cash back equivalent to 4% of the policy’s basic sum assured from the end of the first policy year up till the end of the 10th policy year, and 8% of the policy’s basic sum assured from the end of the 11th policy year up till the end of the 20th policy year. These annual payouts add up to 120% of the policy’s basic sum assured, and do not affect the sum of the policy’s maturity benefits.
Mukesh Dhawan, General Manager of Life Insurance of ZIMB expressed that Zurich Favour8 is a unique product that delivers what it promises and more. “We pack the best features into this product to make our customers’ money work harder so that they can pursue their financial aspirations, be it for a comfortable retirement, child’s education or dream vacation, while ensuring their loved ones are well looked after. On top of the guaranteed annual cash back that is the hallmark of conventional endowment plans, our customers will also stand to enjoy potential investment gains from the performance of our investment-linked funds.We will invest part of the total premiums paid for Zurich Favour8 into two top-performing investment-linked funds; Zurich Vulture Fund and Zurich Global Edge Fund. I am also pleased to note that our Zurich foreign Edge funds have collectively crossed the RM100 million mark on 28 December 2015, hitting RM102.4 million since the inception of the funds in April 2015.”
Upon maturity of the Zurich Favour8 policy, customers are able to receive a guaranteed maturity benefit comprising 128% of the basic sum assured as well as any potential investment gains. Apart from financial returns, Zurich Favour8 also covers customers against Death or Total and Permanent Disability (TPD).
For more information on Zurich Favour8, customers may contact any Zurich Sales Advisors or contact Zurich’s Call Centre at 1-300-888-622. Alternatively, visit www.zurich.com.my
Media Relations
Yana Rahman
Media Relations
Maryam Zainol
Zurich Insurance Group
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 countries and territories. Zurich's customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com
Zurich Insurance Malaysia Berhad
Zurich Insurance Malaysia Berhad (ZIMB), as part of Zurich Insurance Group, is an established composite insurer headquartered in Kuala Lumpur with a nationwide presence of approximately 40 branches throughout Malaysia. ZIMB caters to the protection, savings and investment needs of Malaysians by offering a wide range of general and life insurance solutions through its diverse distribution channels. With more than 1,000 dedicated employees supported by a wide network of Life and General Insurance agents, ZIMB is committed in helping customers and other stakeholders understand and protect themselves from risk. Zurich is uniquely positioned within the Malaysian insurance market where it offers a full range of insurance solutions also covering Shariah-compliant products of Family Takaful as well as General Takaful through its sister company, Zurich Takaful Malaysia Berhad. Further information about Zurich in Malaysia, please visit www.zurich.com.my