Allianz Life reveals estate planning awareness in Malaysia on the rise

Company chief said this is very encouraging to see in the country.

Allianz Life Insurance Malaysia Berhad (Allianz Life) saw an increase in awareness on estate planning amongst the public last year based on jumps in new insurance business.

The insurer said it recorded a 35-fold jump in new insurance businesses set up with this estate planning concept, compared with new businesses achieved in 2020.

According to Allianz Life CEO Charles Ong said this was encouraging to see and the company will continue to find ways to increase awareness on estate planning amongst Malaysians.

“There are several myths on estate planning that we would like to debunk and the biggest one is that it is only for the rich. That is not true – everyone needs an estate plan no matter how little the assets you have,” Ong said.

The jump was attributed to Allianz Life’s partnership with the Malaysian Financial Planning Council (MFPC) and RHB Trustees Berhad to train agents in-depth knowledge on estate planning through the Council’s Professional Estate Planning Adviser Programme (PEPAP). Through the certification programme, Allianz Life agents were able to gain in-depth knowledge on how to integrate these services into effective financial or estate planning.

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