Making a comparison from different insurance providers allows the company to understand the benefit coverage and in the lookout for the best option.
AIA and Allianz are among the insurance companies in Malaysia that offer Group Term Life insurance plans.
Click the button below to contact AIA Insurance Agent Levine Lee, to answer your questions on this insurance plan.
AIA Group Term Life Insurance Plans
This is a Group Term insurance plan (GTL) from AIA Insurance for employees.
- Death coverage.
- Total and permanent disability (TPD).
- Partial and permanent disability (PPD).
- Terminal illness
- Repatriation expenses
- Optional critical illness
Send in this pre-order to get the official proposal for you. Nothing needs to be paid for this pre-order.
Leading insurance companies for Group Term Life
The coverage options offered in the Group Term Life insurance plan include Death, Total & Permanent Disability benefits due to natural and/or accidental costs.
All insurance providers might endorse the same coverage option but the claimable amount for each benefit is different. This includes AIA and Allianz.
For instance, the Group Term Life Sum Assured for AIA starts from RM20,000 and up to RM500,00. Meanwhile, for Allianz, the lowest is from RM50,000 up to RM500,000.
And comparing the same insurance plan from different companies helps HR to decide the best match by evaluating each of the benefits against the company’s requirements.
Group Term Life insurance plan comparison between the AIA and Allianz
Take a glance at the table below to see the comparisons between the Group Term Life insurance coverage offered by AIA and Allianz.
| AIA | Allianz | |
| Group Term Life | Customizable | 6 fixed plans |
| GTL Sum Assured | Lowest from RM20,000 up to RM500,00 | Lowest from RM50,000 up to RM500,000 |
| Accidental Death (ADD) | Customizable | Lowest from RM50,000 up to RM500,000 |
| Critical Illness (CI) | Lowest from RM20,000 up to RM500,00 | Lowest from RM50,000 up to RM500,000 |
| GTL, ADD, & CI Premium | Age rated | Fixed rated |
| Headcount (employees) | 5-200 | 3-200 |
| Underwriting | Employee headcount from 5-10 are subject to underwriting | Not required |
| Entry Age | Employee & Spouse- Min 16 to max 64 years old | Employee & Spouse- Min 16 to max 64 years old |
| Renewal Age | 69 | 69 |
| Pre-existing condition | 120 days waiting period | 120 days waiting period |
| Takeover | Min 25 headcount & 50 % loading on brochure rate | Subject to the last 2 years’ claims history |
Which one should I go for?
In the end, it is all about finding the one that best fits the company’s requirements. The company or organization can benefit from the insurance policy if the goals are clearly fulfilled.
Get in touch with our expert insurance agents for a quick proposal of your estimated needs as well as to better understand the term and conditions of the various insurance companies.
Levine Lee has over 18 years of working experience with AIA and ING Insurance. She is an expert AIA insurance agent and life planner for AIA in Malaysia. Contact LEVINE LEE, at +6012 684 0948. She can work with you to create the best plan to meet your employee benefits program and group insurance budget plans.
Or send in the form below for Levine to call you to scope your needs for a quotation.
Employee Benefits – Request for Quotation
Employee benefits group insurance enquiry form for Red Cover insurance agents to provide group insurance quotations.
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