Kuala Lumpur: Allianz Life Insurance Malaysia Bhd and HSBC Bank Malaysia Bhd have expanded their partnership with the launch of HSBC’s EliteDiamond, an investment-linked plan targeting the rising demand for legacy planning among high-net-worth individuals. The plan is intended for individuals looking to pass on their wealth, with a minimum sum assured of RM1 million and a limited premium payment term of five, six, or eight years, the insurer said in a statement.
According to BERNAMA News Agency, Allianz Life chief executive officer Charles Ong emphasized the importance of securing one’s legacy in today’s fast-paced world. “With HSBC’s EliteDiamond, we empower individuals, from visionary business leaders to families shaping their future, to safeguard their hard-earned wealth and create a future where their values endure. Our priority is to walk alongside our customers at every stage, offering solutions that ensure their financial legacy grows over time, standing resilient through life’s uncertainties, and protecting their families, so they can face the future with confidence,” he said.
HSBC has been the exclusive bancassurance distributor for Allianz Life products since 2012, covering protection, education, retirement, wealth, and legacy needs. Linda Yip, HSBC Bank Malaysia country head of international wealth and premier banking, noted a growing interest in legacy planning among the bank’s high-net-worth clientele. “This bespoke offering empowers individuals to shape how their wealth is passed on to future generations, with the flexibility to customise plans that deliver enhanced value through higher sum assured options. It is a meaningful step in helping our clients secure their legacy, honour their aspirations, and provide lasting support for their loved ones,” she said.
The plan offers, among others, a minimum sum assured of RM1 million with an additional safety net of up to 400 per cent of basic coverage for certain accidental deaths, availability of investment-linked insurance plan funds, flexible payment and coverage terms, and an increasing loyalty bonus of 11 per cent of the sum assured at the end of the 10th policy year or when the life assured attains age 64.