Alex Cheong Pui Yin
Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.
Zurich Introduces Two New Insurance Plans, Zurich Essential Cover And Zurich Prestige Cover
Alex Cheong Pui Yin
22nd April 2021 - 3 min read
Zurich Malaysia has introduced two new affordable insurance plans – Zurich Essential Cover and Zurich Prestige Cover – in response to the public’s concern surrounding Covid-19 and their inability to provide for loved ones without a safety net of protection. The plans come with the Guaranteed Acceptance feature, which allows customers hassle-free access to their coverage without having to go through any medical check-ups or health questionnaires.
According to a statement by insurance company, the Zurich Essential Cover life protection plan is primarily targeted at individuals who are in the early years of their careers, whereas the Zurich Prestige Cover endowment plan is best suited for those who are planning their retirement. In terms of benefits, both plans offer up to 600% of the basic sum assured (BSA), covering the following:
| Benefit | Benefit payable |
| Death/Total and permanent disability/Golden age disability | Higher of 100% of BSA or total premium paid |
| Balik kampung accidental death | Death benefit + 100% of BSA |
| Public conveyance accidental death | Death benefit + 200% of BSA |
| Overseas accidental death | Death benefit + 300% of BSA |
| Onboard flight accidental death | Death benefit + 400% of BSA |
| Natural disaster accidental death | Death benefit + 500% of BSA |
(Image: New Straits Times)
Customers will also have the flexibility to opt for their preferred BSA for both plans – ranging from RM20,000 to RM300,000 – to meet their personal needs.
Zurich further noted that the Zurich Essential Cover plan offers an affordable premium of RM1.43 per day, with the choice of 20 or 30 year coverage. The premium payable is also guaranteed and will remain unchanged throughout the coverage term. Meanwhile, the Zurich Prestige Cover plan provides customers with the option to pay for 5, 10, or 20 years (with differing maturity benefit of between 110% to 130% of total premium paid), and be covered for 30 years.
The chief executive officer of Zurich Life Insurance, Khoo Ai Lin said that the company understands its customers’ concerns in these uncertain times, and wishes to provide a solution that is attainable for them. “With these two plans, Zurich is protecting Malaysians by taking on the risk for our customers. Through a protection plan that is convenient, customers can close the debt gap and enhance their Malaysian lifestyle,” she said.
If you’re interested in purchasing either plans, you may want to also tap into an ongoing campaign by Zurich where you can enjoy a one-month premium rebate and Covid-19 post vaccination benefits. To obtain these benefits, you’ll need to get the plans with a minimum total annual premium of RM2,400. This campaign is slated to end on 7 May 2021.
To find out more about the Zurich Essential Cover or Zurich Prestige Cover plans, head on over to the insurance company’s website.
About THE AUTHOR
Alex Cheong Pui Yin
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