Valued at RM100 million and runs for 10 years, from 1 July 2010, the agreement offers Tokio Marine Life an opportunity, to widen its customer base, secure an additional distribution channel and explore various business options.
Speaking at the press conference, Mr. Kenneth Wong, Chief Executive Officer, Tokio Marine Life,"...the bancassurance agreement with RHB will provide us with the right platform and impetus to grow our customer base, offer leading-edge, relevant insurance-related products and establish a more extensive presence in the country...". Also present at the event were, Dato' Tajuddin Atan, Group Managing Director of RHB, YB Tan Sri Dato' Yahya bin Awang, Chairman of Tokio Marine Life and Dato' Mohamed Khadar Merican, Chairman of RHB Capital Berhad.
Meanwhile, Tokio Marine Life is also launching a capital protected single-premium participating endowment plan called Guaranteed Income Endowment Plus (GIE Plus)- that will be exclusively distributed by RHB's branches. With a minimum single premium investment from RM30,000, GIE Plus is a three-year single plan that offers guaranteed cash payment of up to 3.7% at the end of each policy year, and a non-guaranteed maturity bonus of up to 8%. In addition, GIE Plus also provides coverage on death and total permanent disability of up to 125% of the single premium. RHB Bank customers who are aged from one month to 70 years are eligible to invest in GIE Plus.
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