Zurich Insurance launches new education plan

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Zurich Insurance Malaysia has launched a new children education plan, the Zurich EduStart. It is a regular premium investment-linked plan which combines protection, savings and investment elements that matures when the child reaches the age of 25. The plan was designed to protect children and parents from unforeseen circumstances and to assist parents in building and securing a solid education fund for their children. The Zurich EduStart is available for children between 30 days old and 12 years old and offers benefits such as death or total and permanent disability (TPD) benefit, a flexible premium paying term, and a loyalty bonus of 3.5% that is payable twice during the policy term. Another interesting feature of the plan is the Payor Benefit which waives future outstanding premiums in the event of Payor’s death, TPD or diagnosed with end-stage critical illness. Each parent may opt to add on a Second Payor Benefit rider which further enhances the protection of the policy. When the child attains the age of 18, this policy can be converted to a regular investment-linked plan that allows the child to continue with the protection into his or her adulthood without evidence of insurability under the Conversion Privilege option.