Monday February 27, 2012
Article from The Star Online
WHETHER you want a bigger house, or to take a long trip all around Asia, or play golf all day long after you retire, ING Insurance Berhad (ING Insurance) aims to make this future you want possible.
ING Insurance has unveiled its new series called INGeasi For You, comprising three all-in-one, flexible investment-linked insurance packages that offer protection and investment options to suit one’s needs at the different life stages. Designed with simplicity in mind, the three packages - Discover, Achieve and Build - offer customers financial solutions to match their needs when they graduate and join the working world, or as they advance on their career paths or as they start a family and have to plan for their future and that of their loved ones.
Bruce Hodges, Deputy CEO of ING Insurance Berhad said, “The INGeasi For You series was inspired by the fact that everyone has big plans for the future. At ING Insurance, we have made it easier to meet the future you want by coming up with plans tailored to meet the different protection and financial needs of our customers. This way, our customers can focus on achieving their goals and dreams in life.”
Hodges added that ING Insurance recognised the growing popularity of products that combine the protection and investment elements. This is evidenced by the strong growth of the investment-linked insurance segment of the life insurance industry in recent years. The segment recorded growth in new business of more than 11.0% between 2004 and 2011.
“Customers just starting out in the working world, in particular, are drawn to these products because they can start on a plan with an affordable premium and later top up as their income rises,” he said.
(From left): Bruce Hodges and Joos Louwerier showing the newly-launched FB application
ING Insurance recorded a 28% growth in investment-linked insurance policies sold last year. The segment accounted for 17% of the life insurer’s total portfolio in 2011. With the INGeasi For You campaign, the target is to grow the business to account for one-fourth of the company’s portfolio by the end of 2012.
The company kicked off the launch of INGeasi For You by introducing a Facebook application that allows users to meet their future self, virtually. The application is designed to replicate the Facebook user’s profile and show their future in 5, 10 and 20 years based on their chosen goals and dreams. The application can be viewed and played at apps.facebook.com/future-you. Users interested to know how they can go about planning the future they want, can proceed to read about the packages recommended to fulfil their protection needs at their current life stage.
The INGeasi For You series provides protection against death and disability, critical and female-related illnesses as well as loss of family income. The investment-linked insurance packages also come with medical and hospitalization benefits and provide customers with the opportunity for investment, depending on their affordability and risk appetite.
The Discover package is tailored for those in their early 20s and just starting out in the workforce. The package addresses the need for basic protection and healthcare coverage at affordable monthly rates to inspire youth to start planning their future early.
The Achieve package is targeted at those in their late 20s and early 30s, with generally a higher earning power. They tend to want to increase their protection coverage and save more to bring them closer to their goals. Additionally, the package also provides specific coverage against female illnesses.
The third package Build is designed for families. It provides extensive coverage ranging from protection and savings for retirement as well as their children’s education needs. The package also offers a yearly income benefit in the event the breadwinner is no longer able to provide for the family due to death, disability or critical illness, thus giving family members the peace of mind that they will be taken care off.
The INGeasi For You packages also provide consumers the flexibility to choose from existing combinations of local and global investment-linked insurance funds to suit their changing financial needs and risk tolerance.
In 2011, ING Insurance registered a 10.3% growth in new business sales to RM576mil (measured in annual premium equivalent terms) from a year ago. This was achieved on the back of the company’s unique and well-developed multi-channel distribution capabilities of tied agency, bank distribution and employee benefits, and attractive product portfolio.
Article from The Star Online
