CIMB Group Holdings Bhd today launched a new insurance product it has dubbed Sun Income Secure, a retirement planning scheme which enables its customers to enjoy protection, investment and a guaranteed yearly income in a single plan.
The premium investment-linked insurance and savings plan is the latest addition to CIMB's suite of insurance solutions and is developed in partnership with its bancassurance partner, Sun Life Malaysia Assurance Bhd.
"For the past five years, CIMB has partnered with Sun Life Malaysia to deliver a range of innovative solutions that help facilitate our customers' financial planning. Sun Income Secure is another innovative solution that provides protection, investment and savings in one simple plan to help our customers achieve their dream retirement," said Samir Gupta, group consumer banking chief executive officer at CIMB Group, at the launch of the product earlier.
This is the thirteenth product the two have jointly developed, and the first retirement product of its kind under the partnership.
Furthermore, a lump sum payment will be made in the event of death or total and permanent disablement. Clients will also benefit from a potential investment return through investment in a series of professionally managed investment-linked funds.
Moving forward, CIMB expects to launch about three more new insurance products this year, said Gary Yong, CIMB Bank's head of wealth management.
"One will be related to cancer illness, one will be a takaful product. Another one will be micro-insurance, which involves small amounts [and] this is particularly to help those who are not able to afford insurance in general," Yong told reporters on the sidelines of the launch.
No comments:
Post a Comment