Allianz Life encouraged by increasing awareness in estate planning among public

Estate planning gives you peace of mind and ensures income continuity for your loved ones before all your assets can be distributed and inherited. 

Allianz Life Insurance Malaysia Berhad (Allianz Life) saw an increase in awareness on estate planning among the public last year.

Allianz Life Chief Executive Officer Charles Ong said this was encouraging to see and the Company will continue to find ways to increase awareness on estate planning among Malaysians.

“There are several myths on estate planning that we would like to debunk and the biggest one is that it is only for the rich. That is not true – everyone needs an estate plan no matter how little the assets you have,” Ong said.

In 2021, the insurer recorded a 35-fold jump in new insurance businesses set up with this estate planning concept, compared with new businesses achieved in 2020.

“We were actively pushing the Insurance Trust concept and introduced the Allianz Estate Planner in 2021, amidst the challenging and uncertain year.  We worked with several parties, including the Malaysian Financial Planning Council (MFPC) and RHB Trustees Berhad to train our agents to have in-depth knowledge on estate planning, so that they could drive this message and better educate the people, especially our customers and potential customers.

“As a company that is in the very business of providing protection, we want to emphasise to the people that getting an estate plan is a means of protection for your loved ones, especially young children. Without proper estate planning, your assets are at risk of being frozen which will affect your family in terms of delayed inheritance and in worst-case scenario, discontinued income,” he added.

In 2020, Allianz Life and MFPC signed a training services agreement which enabled Allianz Life agents to enrol in the Council’s Professional Estate Planning Adviser Programme (PEPAP). Through the certification programme, Allianz Life agents were able to gain in-depth knowledge on how to integrate these services into effective financial or estate planning.

In the same year, Allianz Life also partnered with RHB Trustees to provide its customers with trustee services to help manage and protect their legacy for their family.  

Allianz Life agents specialising in estate planning are categorised as Allianz Estate Planner, Allianz Senior Estate Planner, and Allianz Executive Estate Planner.

To find out more, those interested can talk to our Allianz Estate Planners by calling 1-300-22-5542 or [email protected] from Monday to Friday between 8.00am to 8.00pm.

This content is provided by Allianz Malaysia Berhad.

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