Malaysia's Maybank has launched PremierLady savers, its first whole-life regular premium investment-linked plan offering health protection and financial security specifically for women.
According to Maybank, the plan, which offers maximum insurance cover of RM0.5 million, offers comprehensive coverage, with additional medical benefits covering women-specific illnesses such as breast and uterine cancer, and potentially costly medical expenses such as reconstructive surgery.
PremierLady also has an investment strategy for financial security. The wealth creation element, based on an investment plan of a mixture of funds to generate earnings, is aimed at providing financial security and independence.
Spencer Lee, senior executive vice president and head of consumer banking at Maybank, said: Women are becoming more conscious of their independence, especially their well-being encompassing health and financial issues.
He added: Cost pressures due to women’s commitments to their career or family as well as lack of awareness of the cost for treatment of medical women-related illness such as cancer often act as a barrier to planning early for protection.
The plan, which is available to women aged between 18 to 55 years, with maturity age of up to 100 years, also provides offers a maternity rider. This provides a lump sum payment for congenital abnormalities, complication of pregnancy, or death of the insured or the child. There is also an accidental death and dismemberment rider.