Allianz Ability Life is a term life insurance policy by Allianz Malaysia Berhad that provides financial assistance for people with disabilities. It is a yearly renewable plan that allows you to provide security to your family against the uncertainties of life.
Benefits of Allianz Ability Life Insurance
The following are the features and benefits of Allianz Ability Life insurance policy:
- The premium of this policy starts from just RM50 a year and is paid annually.
- Allianz Ability Life pays the full sum insured in lump sum if you pass away during the coverage period.
- The premium that you pay for this policy provides income tax relief.
- This insurance policy renews automatically every year.
- Allianz Ability Life insurance policy has a high entry age which makes it possible to buy this policy even at the age of 60.
The eligibility criteria for purchasing Allianz Ability Life insurance policy are:
- The minimum entry age for purchasing Allianz Ability Life insurance policy is 16 years.
- The maximum entry age for purchasing the insurance policy is 60 years.
- You must produce your Orange Kurang Upaya(OKU) card to be eligible to purchase this policy.
Allianz Ability Life Insurance for Foreigners
You can purchase Allianz Ability Life term insurance policy even if you belong to a foreign country.
Allianz Ability Life Insurance Claims
In order to submit your claim, you have to submit the duly-filled claims form along with the required documents to the nearby Allianz Life branch. You can get information about the required list of documents for each claim from the Allianz website itself.
On submission, Allianz will process your claim, then approve it within 7 working days (for a standard claim). Once approved, you will receive the payment through E-Payment (living claim) or cheque (for death claim) in 5 working days.
You can find out more details on Allianz Ability Life Insurance by getting in touch with Allianz Customer Service executives on the number 1-300-88-1028, which is given in the website.
You can also send in your queries to the email id provided: email@example.com to connect with Allianz Customer Service associates.
Allianz website also provide a ‘Chat with us’ option.
You can follow Allianz through their social media page as well.
How to Cancel the Allianz Ability Life Insurance Policy?
If you wish to cancel your insurance policy, you can submit the duly-filled policy Surrender Form along with the necessary documents to the nearest Allianz Life branch. The official Allianz website will provide information on the required documents to be submitted with the Surrender Form.
Your application will be processed within four working days from the date of submission. Once it is approved, you will get the Surrender payout through the E-Payment mode in a time span of five working days on your bank account.
Q: Till what age can I continue to renew my Allianz Ability Life Insurance policy?
A: The Allianz Ability Life Insurance policy can be renewed till the age of 69 years.
Q: In the event of my death, when can the nominee make a claim?
A: The claim must be made within two months of the death of the life assured. The nominee must give a written notice to make the claim.
Q: When will the Allianz Ability Life insurance policy terminate?
A: The Allianz Ability Life insurance policy automatically terminates upon the death of the life assured.
Q: What are the common critical illnesses?
A: The common critical illnesses are listed here:
- Heart Attack
- Coronary Artery Bypass
- Kidney Failure
Q: Can I file my claim for my overseas treatment as well?
A: Yes you can but remember the following:
- You will not get any benefit if you remain outside Malaysia for more than 90 consecutive days. This is from the date you leave Malaysia.
- The transport cost to the place where your treatment was going on is not included.