What do I need to know about the Allianz PowerShield?
PowerShield is a flexible term life insurance policy by Allianz which provides coverage upon your death or total and permanent disability.
Should you die or become permanently disabled while being Allianz PowerShield policyholder, you or your loved ones will get a lump-sum cash payment of up to RM2 million to secure the financial well-being of your family.
How much do I need to pay for my premiums?
Once you've decided on your basic sum assured, your premiums are fixed through the coverage period, but the rates will depend on your age, gender, occupation, coverage term, and other lifestyle factors determined by Allianz.
Can I get additional protection with Allianz PowerShield?
Yes, you can pay extra for add-on riders for even more coverage. The riders that can be added to your PowerShield policy are early cash payments for any of the 36 critical illnesses, accident indemnity, personal accident, hospital benefit, and dreaded disease premium waivers.
Is this insurance policy renewable?
Allianz PowerShield offers flexible coverage terms ranging from 5 years until you reach 80 years of age. You may renew your Allianz PowerShield policy upon maturity, but you’ll have to inform Allianz at least 3 months in advance before the expiration of your policy.
What are the requirements?
To buy this term life insurance policy, you have to be between 16 and 65 years of age. The maximum renewal age for this policy is 60 years old.
Can I convert PowerShield to a permanent whole-life plan?
Yes, you can do so by purchasing an endowment or whole life plan from Allianz without further underwriting. However the sum assured of the new policy cannot exceed the current policy.