Allianz Malaysia's plan to target Gen Y

Allianz Life Insurance Malaysia has launched Allianz PrimeSaver, targeting Malaysian youths and the Gen Y generation.

The new plan encourages them to save for their future. As such, the cost is kept to RM200 per month and provides flexibility in choosing the preferred premium payment term between six to 20 years. It has a coverage term of between 20 to 30 years.

Zakri Khir, CEO of Allianz Malaysia Berhad said the initiative was built on the idea that saving is a habit that is lost on a lot of Malaysians, let alone Generation Y.

"We recognised that this generation wants to save for their future, and yet at the same time do not want miss out on things life has to offer. With our customers in mind, we have designed Allianz PrimeSaver to let them have the best of both worlds – long term savings and short term rewards,” Zakri Khir, CEO of Allianz Malaysia said.