Malaysia: Great Eastern launches first-of-its-kind insurance plan

| 25 May 2023

Great Eastern Life Malaysia (GELM) launched Great Multi-Gen Wealth, a wealth accumulation plan at its head office recently.

It is the first-of-its-kind insurance plan in Malaysia which helps the policy owner to have long-term savings and transfer it to multiple generations, allowing the change of the life assured, appointing an alternate policy owner and secondary life assured, all in one plan.

“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, “says Datuk Koh Yaw Hui, Great Eastern Life Assurance (Malaysia) Bhd Chief Executive Officer.

“At Great Eastern, we continuously innovate our insurance solutions to meet the changing needs of our customers.  “The wealth accumulation plan allows the family’s legacy to continue building wealth for every generation whilst ensuring the life protection of the family’s future. 

Datuk Koh adds: “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.

“In celebration of our 115th anniversary this year, we will continue to inspire and partner customers to help them achieve their personal goals and financial aspirations. 

“We aspire to better understand customer expectations of their insurance partner, and specifically from Great Eastern as their insurer of choice.” 

Great Multi-Gen Wealth is a limited pay whole life plan with investment boosters. It offers a choice of savings and coverage up to age 70 years, 80 years or 90 years with the flexibility to choose the premium payment terms of 5, 10 or 20 years. 

A long-term savings plan with yearly investment booster of up to 60% of basic annualised premium and guaranteed maturity benefit of up to 1,200% of basic annualised premium, reported The Star.