Etiqa Takaful Berhad unveiled a new Takaful investment-linked plan which provides participants with a combination of protection and the opportunity to accumulate wealth. It aims to achieve a target of 3,500 participants by this year through the launch of its latest plan, Elite Takafulink.
Chief Executive Officer of Etiqa Takaful Berhad, Ahmad Rizlan Azman said, "We observed growing awareness and requirements amongst the working public to balance the needs of providing financial security for themselves and their loved ones with the desire to accumulate wealth whilst indulging in activities they enjoy most. We believe this new plan would be suitable to fill such requirements. We believe that the Elite Takafulink plan will make its mark in the Takaful investment-linked market this year.”
Rizlan also said that Etiqa Takaful is positive on of achieving its target set for the new plan which targets the mass affluent market, following Etiqa Insurance Berhad's launch of the highly successful investment-linked insurance product, Elitelink, at the end of last year.
"The Elite Takafulink will be our first foray into the growing Takaful investment-linked segment. We see this as a potentially profitable area that will give us more opportunities to access the mass affluent segment and attract new participants for the Malaysian Takaful market. We have only seen a few Takaful Operators focusing in that segment so far and we expect to see more development in that space this year. This is a sub-segment in which we see potential growth relative to the overall Takaful sector."
With its Takaful Investment-linked features, participants have the option to invest in any one of the available Shariah-compliant investment funds to accommodate their investment objective and risk level. They will also be covered with basic protection like Death, Total & Permanent Disability (TPD) and comprehensive choices of
protection riders. The riders provide participants the flexibility to enhance the level of protection with the optional riders that suit their lifestyle, in addition to the basic Death and Total Permanent & Disability coverage.
“At Etiqa, we constantly strive to deliver our brand promise of humanizing Insurance & Takaful. We aim to achieve it by delivering a true customer experience and make Etiqa a preferred brand for all Malaysians. Most people do not have sufficient coverage to cushion the rising costs. Hence, we strive to ensure that our customers have the opportunity to cushion this effect by having the flexibility to choose the level of protection according to their lifestyle, while being guided in making suitable investments in Shariah-compliant funds,” he added.