Top 5 Best Legacy Insurance Plans in Malaysia

Worrying about your loved ones’ financial well-being shouldn’t keep you up at night. Legacy insurance gives you peace of mind, knowing they’ll be protected if the unexpected happens.

Legacy planning goes beyond traditional estate planning, taking a holistic approach to managing your assets with the goal of creating a lasting impact and preserving your values. It begins with defining your goals for your wealth, based on what matters most to you. From there, legacy planning involves protecting your assets, planning for their distribution (to family, charities, or causes close to your heart), and minimising tax burdens to maximise what your loved ones receive. It also encourages you to consider the non-financial aspects of your legacy – the traditions, values, memories, and financial security you wish to pass on to future generations.

Discover the top 5 legacy insurance plans in Malaysia and learn how they can safeguard your family’s future.

1. PRUWealth Enrich

Prudential’s PRUWealth Enrich is an award-winning insurance plan designed to protect your family’s financial future in case of death or total permanent disability. Recognising that life is unpredictable, the plan aims to provide stability and lessen the financial burden of such events. It offers personalized solutions, high coverage (from RM300,000), and affordable premiums for younger individuals just starting their careers. Complimentary increasing coverage (up to 50%), high accidental death benefits (up to 500% coverage), and potential bonuses further enhance the plan’s value, making PRUWealth Enrich a strong option for safeguarding your family’s financial legacy.

2. GREAT Multi-Gen Wealth

GREAT Multi-Gen Wealth is a whole life insurance plan focused on wealth preservation and building a lasting legacy for future generations. It offers flexible premium payment terms (5, 10, or 20 years) with coverage extending up to 90 years old. The plan provides regular income streams throughout the policy term and a lump-sum payout upon maturity. It also features death protection with no medical underwriting required. GREAT Multi-Gen Wealth allows you to transfer both ownership and coverage to loved ones, ensuring your legacy provides support and protection for those you love.

3. Allianz Legacy Plus

The Allianz Legacy Plus plan is designed to protect and grow the wealth you’ve built, ensuring a secure future for your family and preserving your legacy. It offers a Conditional No Lapse Guarantee to safeguard your coverage, protection against inflation with an increasing Insured Amount, and a Loyalty Bonus for potential investment growth. Upon maturity, a Guaranteed Maturity Benefit secures your wealth for future generations. Conveniently, the plan features a high Non-Medical Limit simplifying the application process.

4. HSBC’s UniversalLegacy

HSBC’s UniversalLegacy insurance plan is designed to help you grow and preserve your wealth, providing a guaranteed payout for your loved ones in the future. The plan offers a guaranteed benefit payout at age 100 or upon your death, potentially up to 3x the total premiums paid. It allows for investment diversification to spread risk and potentially boost returns. Flexible premium payment terms (single or 3-year) accommodate your budget. The plan facilitates fair inheritance distribution, and its straightforward distribution process ensures your wishes are carried out without the complexities of traditional probate.

5. Manulife Bancassurance EliteLife Signature Legacy

EliteLife Signature Legacy is a legacy insurance plan designed to help you secure your family’s financial future and safeguard your wealth for generations. It offers high coverage in case of death, total permanent disability, or old age disability (after age 70). You can customise the plan with optional riders for accidental death, critical illness protection, and premium waivers. With short premium payment terms (5 or 8 years), loyalty bonuses, and special payouts throughout the policy term, it combines protection with investment growth potential. The plan offers flexibility in coverage terms, investment fund choices, withdrawals, top-ups, and fund switching. An additional benefit is the automatic fund rebalancing feature to ensure that the portfolio mix you have chosen remains consistent.