(From left): Great Eastern Life Assurance (Malaysia) Berhad chief executive officer Datuk Koh Yaw Hui at the Great Multi-Gen Wealth launch, encouraging parents and families to safeguard their multiple generations by growing and transferring their wealth.
Great Eastern introduces the first-of-its-kind insurance plan in Malaysia.
TO provide for your family’s future, building your savings plays an important role.
But to provide for the future of multiple generations of your family, you will need a unique plan that allows you to grow your savings in the long term, with the ability to transfer it from one generation to another.
With this in mind, Great Eastern launched GREAT Multi-Gen Wealth, a generational wealth accumulation policy, with Change of Life Assured feature that is the first-of-its-kind insurance plan in the country.
“GREAT Multi-Gen Wealth allows the family’s legacy to continue building wealth for every generation whilst ensuring the life protection of the family’s future,” says Great Eastern Life Assurance (Malaysia) Berhad chief executive officer Datuk Koh Yaw Hui.
“We believe it is important for our customers to have the ability to safeguard their culture and keep the family in harmony with their loved ones to always be financially protected.”
How GREAT Multi-Gen Wealth works
The plan utilises a yearly investment booster and a guaranteed maturity benefit to grow your savings over the chosen policy term of age 70, 80 or 90, with a premium term of 5, 10 or 20 years.
The unique Change of Life Assured feature then allows you to transfer the policy, savings and life protection from one generation to another.
As an example, Adam signs up for GREAT Multi-Gen Wealth as the policyowner and his son, Bob, as the life assured, with the policy maturing when Bob turns 90.
When Bob turns 19, Adam can transfer the policy to him, making Bob the second generation policyowner and life assured.
Upon starting his own family, Bob can then appoint his daughter, Carmen, as the life assured, before transferring the policy ownership to her when she turns 19, making Carmen the third generation under the plan.
This transfer of policy ownership and life assurance will continue until the plan matures with Carmen’s son, Daniel, the fourth generation of the family.
Daniel will receive the total yearly investment booster and guaranteed maturity benefit from the plan’s long-term wealth-building, which he can use to further his studies, buy a home or travel.
“As the country’s largest and most established life insurer, putting our customers at the heart of all that we do has always been our priority. At Great Eastern, we continuously innovate our insurance solutions to meet the changing needs of our customers so that they can ‘Reach for Great’,” says Datuk Koh.
