OCBC LAUNCHES ESTATE PLANNING INSURANCE PRODUCT IN MALAYSIA

KUALA LUMPUR, May 3 (Bernama) -- OCBC Bank (M) Bhd and Great Eastern Life Assurance (M) Bhd Tuesday introduced a Universal Life Insurance estate planning product targeted at high net worth individuals seeking a more sophisticated approach to wealth planning and distribution.

Underwritten by Great Eastern, Premier Heritage is a single-premium
Universal Life Insurance plan specially designed to help enhance an individual's wealth by creating an immediate estate and thus ensuring he or she is able to leave a legacy.

The policy will earn a guaranteed minimum interest of 2.5 per cent per annum upon maturity when the bearer reached a hundred years of age.

OCBC Bank Head of Consumer Financial Services Charles Sik said in Malaysia, high net worth individuals typically have significant amounts of investable assets and it was likely to grow in line with the government's initiative to turn Malaysia into a high income nation.