Affin Hwang Asset Management Bhd will now offer complimentary group term life insurance to its new and existing customers. In partnership with AXA-Affin Life Insurance Bhd, the asset management firm is offering RM1 in insurance coverage for every RM1 invested in its funds, up to a maximum coverage amount of RM400,000.
The group term life insurance will cover death and total permanent disability (TPD) only, with no prior medical check-up required. Should the client suffer either death or TPD, his holdings with Affin Hwang can be paid to a beneficiary of his choice within 14 working days upon submission of the death certificate and other supporting documents.
The insurance coverage is limited to its two flagship funds: the Affin Hwang Select Opportunity Fund and Affin Hwang AIIMAN Growth Fund. Malaysian residents between the age of 18 and 64 with a minimum investment of RM10,000 in either fund is eligible for the offer.
The asset management firm is also offering will writing and trust nomination services, which will be handled by Pacific Trustees Bhd. The two services are optional add-ons.
The trust nomination service is offered at a promotional fee of RM88 (until Feb 28, 2015), inclusive of stamp duty. Pacific Trustees is offering three packages for its will writing service: Pacific Will Writing, Pacific Will Plan and Pacific Will Rewriting. During the promotional period, fees will range from RM280 to RM1,280, depending on the type of will.
These offerings are part of Affin Hwang's newly launched wealth protection and wealth distribution service, which aims to offer three important wealth management concepts under one roof - wealth creation, wealth protection and wealth distribution.