Charlie E. Oropeza and Loh Guat Lan at the launching of HLA Promise
HLA Promise
HLA Promise
Date :
23 JULY 2008
PRESS RELEASE
Hong Leong Assurance Bhd today launched its new HLA Promise product, a
participating endowment policy that provides S.T.A.R. features Savings,
Total Protection, Assured Income with Reinforced Benefit.
With Hong Leong Assurance's new product HLA Promise, you can now have your wishes
fulfilled receive regular cash payment as well as lump sum benefit at maturity.
According to Mr Charlie E. Oropeza, Group Managing Director, "We have put a lot of
thought into making HLA Promise a comprehensive plan. It is a plan that is relevant
to what the customer needs with benefits which currently cannot be found in other
savings plans."
With HLA Promise, customers get these STAR benefits. (1) Guaranteed lump sum benefit
at maturity, (2) Guaranteed protection against Total & Permanent Disability (TPD)
and Death, (3) Guaranteed regular cash payments that increase over the years to meet
future needs with (4) Option to continue receiving cash benefits in event of TPD,
Critical Illness (CI) or Death.
The Reinforced Benefit enables customers to secure the guaranteed regular cash payments
for themselves or their family so that in event of Death or TPD these cash payments
will continue to be paid until maturity, a benefit that is currently not available to
most savings plan a true promise to our customers. And in case of CI, the Reinforced
Benefit also goes one step further policyholders receive double the guaranteed regular
cash payments. This, because HLA knows very well that at these times, additional cash
is needed to ensure the family's lifestyle is preserved in the face of a sudden surge
in medical expenses.
Meantime, a recent study by EPF shows that, on average, contributors have RM106,000 in
their EPF account when they retire. Ninety nine point nine per cent (99.9%) withdraw
their EPF savings in a lump sum once they reach 55. For a number of people, the EPF is
their only form of savings. The probability of living until age 80 or even up to 83
is high. One, therefore, cannot stretch the RM106,000 from EPF savings for 30 years.
The HLA Promise Plan guarantees regular cash payments that increase over the years to
meet future needs.
Based on our previous sales experience, most customers prefer a shorter premium
obligation of possibly 10 years at least. And many are also looking for an insurance
plan that provides savings as well as the opportunity to enjoy regular cash payments
until maturity. Taking these into consideration we have designed HLA Promise to give
something even better than what customers want we are the first to provide 6 years
premiums payment option. In addition, HLA Promise also comes with a dividend program
that declares cash dividends, starting from the end of the 2nd policy year onwards.
And, customers are able to participate in the profits of the Company in the form of
Terminal Dividend or Special Terminal Dividend.
"We have put a lot of thought into making HLA Promise a comprehensive plan not only to
fulfill the wishes of our customers but to provide them with benefits currently not found
in other savings plan. In Hong Leong Assurance, we are committed to respond to customer
needs it is their needs that drive us to keep developing new and innovative products
like HLA Promise." concluded Mr Oropeza.
