Zurich Favour8

What is The Zurich Favour8?

Favour8 is an insurance savings plan offered by Zurich Insurance. It is a financial solution that offers assurance through a stable return. This endowment plan offers a short-term investment with guaranteed cash back to help lessen the burden for individuals in the rising cost of living in today’s environment.

Why is the endowment plan so important?

Studies have shown that more than 88% of pre-retirees are worried that they might not have the financial support after they retire. On top of that, about 50% of retirees use up their EPF (Employee Providence Fund) savings within the first 5 years after reaching retirement. Current options like Fixed Deposits and other investment engines are not capable of offering guaranteed cash-back returns. An endowment plan provides you with such an option.

What is so attractive about the Zurich Favour8?

You will enjoy a short-term investment that comes with an assured long-term coverage. You pay premiums for 8 years which comes with guaranteed protection for the next 20 years. In fact, you will get cashback starting from the end of the first year you pay for premium until the 20th year. It will all be added onto the 120% basic sum assured. This means that you will enjoy:

  • 4% guaranteed cashback for the first to the tenth year
  • 8% guaranteed cashback from the eleventh to the twentieth year

This means that you will enjoy 120% guaranteed cashback in total between the first and twentieth year of the policy. Once the Zurich Favour8 policy matures, you will receive a lump-sum payment of 128% of the basic sum assured together with any accumulated Guaranteed Cash and Investment Account Value.

What is my insurance coverage from Zurich Favour8?

You will be covered from a minimum sum assured of RM10,000 up to the underwriting requirements when you purchase this policy.

Am I eligible for Zurich Favour8?

Yes, if you are between 30 and 65 years of age.

Do I get insurance protection with Zurich Favour8?

Besides the savings option, you will also be protected from death or TPD (Total and Permanent Disability) during the course of the coverage as well as the basic sum assured or the total premium paid. This also includes the accumulate Guaranteed Cash Back and Investment Account Value.

Where will my money be invested in?

The Zurich Favour8 works in a 70-30 concept. 70% of the premium will be channeled to your Favour8 Basic while the remaining 30% will be invested into 2 funds namely the Zurich Vulture Fund and the Zurich Global Edge Fund.

Can I add additional riders for Favour8?

Yes, you can top up for more protection. This could either be the Special Payor Guard or the Critical Illness Premium Waiver which are designed to ensure your premium continues in case of any unfortunate events.

 

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