^{Kam (centre left) and Coburn (centre right) looking forward to another 15 years of successful partnership and beyond.}
 

EliteLife Signature Saver is an insurance savings solution specifically designed for Alliance Bank customers to manage and grow their wealth for a secure future

KUALA LUMPUR, Sept 6 (Bernama) -- Following the extension of their exclusive partnership, Manulife Insurance Berhad (Manulife Malaysia) and Alliance Bank Malaysia Berhad (Alliance Bank) are kicking off their partnership with the launch of a new proposition – EliteLife Signature Saver. The partnership brings a new offering which will help customers build additional savings nest, while providing insurance coverage for death, total and permanent disability (TPD), as well as accidental death.
 
This plan is ideal for affluent individuals as it offers hassle free enrolment for applications up to RM1,000,000 Face Amount per life. This allows customers to diversify their portfolio and achieve steady capital appreciation with moderate volatility, without requiring long-term premium commitment. EliteLife Signature Saver is underwritten by Manulife Malaysia and distributed by its bancassurance partner, Alliance Bank.
 
According to the Manulife Asia Care Survey[1], more than half (52%) say that saving for a rainy day or emergencies is their number one financial goal, with saving for retirement (50%) ranking number two. Nearly two thirds (64%) have a positive impression towards retirement planning, but only 38% have a retirement plan in place.
 
“The survey reflects post-Covid uncertainties and concerns about the future, where there has been a shift in priorities. A majority of Malaysians now see the importance of saving for retirement. However, more must be done to bridge that retirement gap,” said Vibha Coburn, Chief Executive Officer, Manulife Malaysia.
 
“At Manulife, we strive to help customers in Malaysia attain long-term financial security and build awareness for Health, Savings and Retirement solutions. With the EliteLife Signature Saver, our customers have the opportunity to diversify their investment portfolio further, whilst having peace of mind knowing that they are better protected. This also means less time spent worrying about the potential risks of investment and more on the things that truly matter,” added Coburn.
 
The EliteLife Signature Saver offers a guaranteed minimum crediting interest rate of 2% per annum for the first five policy years and 0% in the following years – ensuring that the net Crediting Interest Rate will never be negative, should market conditions turn unfavourable. Policyholders will also enjoy an annual Guaranteed Cash Payment during the first 15 policy years.
 
A notable highlight of the plan is the Wealth Pot feature and the flexibility we offer to customers - enabling them to switch plan options to suit their changing financial needs and circumstances. Policyholders can either choose to receive a lump sum amount at the end of policy year 15 or stay invested and benefit from the monthly crediting interest rate up to age of 88, making it suitable for those who want to save for things like general savings, retirement, or a child’s education.
 
“As we strive towards our goal of being the most trusted and preferred financial services provider in Malaysia, we remain committed to understand the ever-changing needs of our customers. To achieve this, we continue to create innovative plans that are needs-based, hassle-free with flexible features. The EliteLife Signature Saver stands out for its flexibility, offering adaptable solutions that align with the unique financial goals of every individual,” said Coburn.
 
“The introduction of this new insurance plan is timely to meet the needs of our customers, especially those who are constantly on the lookout for relevant savings and insurance. What’s more, this newly launched insurance plan offers eligible customers a substantial face amount of up to RM1,000,000 without the hassle of going through any financial nor health underwriting.  We see this as an attractive legacy planning option for our customers,” said Kellee Kam, Group Chief Executive Officer of Alliance Bank.
 
The product information in this press release does not contain the full terms and conditions of the products and is for reference only. For more information, please visit your nearest Alliance Bank branch or visit: https://www.alliancebank.com.my/protection/personal/life-insurance.aspx.
 
Recently both Manulife Malaysia and Alliance Bank had extended their exclusive bancassurance partnership for a further 15 years. Both Coburn and Kam, alongside their senior management team and key team members had gathered for a private luncheon to celebrate a decade of close partnership. This partnership extension represents a powerful alliance, driven by a shared commitment to empower customers in Malaysia with holistic wealth and protection solutions. By leveraging their respective expertise, both organisations are set to remain adaptable and responsive to the evolving financial landscape, delivering value to customers in Malaysia.