Hong Leong
Assurance launches
Cash Builder plan
East Malaysia is already showing improvement in sales in
such a short time with this new plan.
Eric Tan, Hong Leong Assurance Berhad's head of strategic marketing & product development
KUALA LUMPUR: Hong Leong
Assurance has yet again launched
another by-clients-demand
product Thursday, HLA Cash
Builder, You Build! You Plan! &
You Decide!
Hence their product by-line, the
HLA Cash Builder plan rides on
the promise that it caters
maximum flexibility to its
policyholders by way of mixing
and matching the plan to the
individual's needs.
Policyholders are given the
freedom to build their income,
plan their protection and decide
their payment term by moulding
this plan to serve as many
individuals' needs at once.
If planned well, the plan allows
inclusion of investment,
insurance protection, retirement
plan, life savings and educational
fund.
Hong Leong Assurance
Berhad's head of strategic
marketing & product
development, Eric Tan, said on
Thursday that the HLA Cash
Builder is their signature
product this year and predicts
the plan to gross more than 150
mil in First Year Annual
Premium within six months in
comparison with their signature
product last year, HLA Promise,
which grossed 150 mil in a period
of 12 months.
"Look at it as an investment
plan," said Tan, citing that HLA
Builder allows for a faster, earlier,
higher and always flexible income
stream meets the many
preferences of the policyholders.
He also said that on an average,
HLA introduces three to four
products a year and this signature
of theirs for this year is the best
yet.
HLA appointed representative
Loh Guat Lan said that HLA Cash
Builder allowed the policyholders
to choose from four different
raiders but no matter which rider
they chose, policyholders would
receive the guaranteed yearly
income at all circumstances.
The contribution from East
Malaysia was stated as roughly
10 per cent of the total sales
generated from their HLA
Promise last year
"East Malaysia is already
showing improvement in sales in
such a short time with this new
plan", said Tan, when asked as to
the kind of response they were
getting from the East Malaysian
clientele pool.
He also added that since they
were confident this plan was for
all, they did have a few tricks up
their sleeves that they were
planning to execute.
GUARANTEED INCOME: Hong Leong Assurance Cash Builder, You Build! You Plan!
& You Decide!
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ReplyDeleteHong Leong Assurance (HLA) has introduced the Hong Leong CASH Builder, a participating endowment plan which allows policyholders to structure their own income and protection plan.
Policyholders can receive guaranteed yearly income under all circumstances, said Loh Guat Lan, chief operating officer (life division), Hong Leong Assurance Bhd.
“For example, a parent purchases the policy. While he is alive, he could use the yearly income to support the children’s tuition fees. But when a mishap happens, the basic death benefit can support the immediate family’s needs and the future unpaid yearly income will also be payable to support their children’s education,” said Loh. She said the company plans to achieve a sales target of RM150 million within a six-month period.
Under this plan, policyholders can pick from four different Builder riders. These riders come with varying guaranteed annual return, while the return payback starts at different inception dates. Policyholders also have the option to combine any of the four Builder riders, up to five times of the basic sum assured. There are also options of 20 protection riders, ranging from medical coverage and waiver of premium. Premiums are to be paid for six years or 10 years, and insurance coverage is up to 35 years, depending on the structure.
The minimum sum assured for this endowment plan starts from RM10,000, which means that the annual premium starts at around RM2,000 to RM3,000. On top of the yearly guaranteed income, there is a guaranteed maturity benefit of 100% of the sum assured and potential gains through yearly cash dividends and terminal dividends