Allianz PowerLink is an investment-linked insurance policy that offers life protection, health cover, other benefits. You can also choose to add riders to strengthen the policy.
Benefits of Allianz PowerLink Insurance
- You can get life and health protection with investment benefits in a single policy.
- The insurance policy provides protection up to an age of 100 years.
- Allianz guarantees that the policy will be kept in-force for the first 3 years, even in the case of insufficient units to pay for the policy charges. However, this facility is subject to terms and conditions.
- You get a wide range of fund choices for your investment.
- The policy offers affordable premium rate that can be paid monthly, quarterly, half-yearly or yearly basis.
- You will receive both the basic sum assured as well as the investment account balance in case of death.
- In case of TPD before attaining the age of 65 years, you will receive the basic sum assured. The balance in your investment account will be released in case of death.
Allianz requires you to fulfil the below criteria to qualify for purchasing the policy:
- Minimum entry age: 16 years
- Maximum entry age: 60 years
Allianz PowerLink Insurance for Foreigners
If you are a foreigner, you are still considered eligible to buy the Allianz PowerLink insurance policy.
Allianz PowerLink Insurance Claims
If you are looking to claim your policy benefits, then you can visit the official website of Allianz to locate and download the Claims Form. You can now fill your details in the Claims Form and attach all the necessary documents for your claim. The form and the documents can be submitted to the nearest Allianz Life branch.
After submission, the customer service associates will take about 7 business days to process your claims application. If your claims application gets approved, you may receive your funds payment within 5 business days. You can receive your claims fund either via e-payment or in the form of a cheque.
You can make use of any of the methods to know the status of your claim:
- Contact your agent
- Contact the customer service associates on phone or email
- Track the status on Allianz website
You can send your queries to the email id [email protected].my and get clarifications from customer service associates. You can also dial the number 1-300-88-1028 to reach our customer service associates.
For quick queries, Allianz also offers ‘Chat with us’ option on the official website.
How to Cancel the Allianz PowerLink Insurance Policy?
You can cancel the Allianz PowerLink insurance policy by filling up the Surrender Form and submitting the same to the nearest Allianz Life branch. You have to provide the necessary documents, such as a copy of policyholder’s NRIC, a copy of NRIC of the insured and the original policy agreement document.
Allianz customer service associates will process your surrender application within 4 business days, in standard cases. On approval, you will receive your money within five business days.
Q. Do I have to pay any charges if I cancel the policy within the free-look period?
A. You do not have to pay any cancellation charges if you wish to cancel the insurance policy within the free-look period.
Q. How to cancel a rider from my insurance policy?
A. You can cancel a rider that is attached to your insurance policy by submitting the Request for Change Form to Allianz Life branch.
Q. How to keep track on the status of my claim?
A. You must log into your account on the customer portal any time after 24 hours of claims submission to view the status of your claim. You can also contact your agent to know more about your claims status.
Q. Does Allianz PowerLink provide critical illness cover?
A. No. Allianz PowerLink doesn’t cover critical illness by itself. However, you can add the critical illness cover as an optional benefit to the insurance policy.
Q. What happens if I am unable to pay the policy premium?
A. If you have not paid the policy premium, then you will have a grace period to pay the premium with penalty. If you are unable to pay the premium even after the grace period, then the premium will be deducted from the investment account balance.