What is the HLA Asset Protector?
Asset Protector is a life insurance protection plan that keeps in mind the needs of people from all walks of life. This is plan is offered to you by Hong Leong Assurance and is ideal as a loan protection to ensure the safety of your financial needs.
Asset Protector protects your outstanding financial commitments in the form of a lump sum payment that goes towards paying your loan in the event of Total and Permanent Disability as well as Old Age Disablement. Both instances are protected up to the maximum age of 65 years old.
What about other protections?
HLA also offers you coverage in the sense of leaving behind a legacy for your loved ones. Your loved ones, or more specifically your registered next of kin will have the benefit of a lump sum payment of your selected sum assured, in the event of Total and Permanent Disability and Old Age Disablement.
The plan also safeguards your human capital, which is especially beneficial if you are a business owner. Asset Protector offers you a lump sum payment to help in the recovery of your business if your key personnel are both unable to work and you need to find a replacement.
Who can apply?
Entry age for Policy Owners, which means the minimum age to be covered under the policy is 16 years old. However, the minimum age for Policy purchase or registration is 18 years old. Coverage is between the age of 16 and 70 years old with the expiry of 100 years old.
If you intend to be covered for that long, you will need to purchase the policy before your 65th birthday.
What are the Premiums and Sum Assured?
Basic Sum Assured for this plan is RM500,000 with the maximum sum assured being negotiable and subject to HLA’s underwriting.
Your premiums are based on the Sum Assured that you intend to have with the payment options of Monthly, Quarterly, Semi-Annually or Annually.