Allianz PowerLink 

Allianz PowerLink is an regular premium investment linked policy. As with other regular premium investment linked policy, it offers flexibility of cover and option to include other riders for accidental death or disablement, hospitalization and surgical, 36 major critical illness etc.

PowerLink is touted as a “all in one” that combines investment and insurance cover with all the basic coverage and your financial needs are covered by a plan only! I hope insurance company stop using this “everything in one” since sooner or  later, all of them do launch other plans which this all in one plan don’t cover.
The benefits of this plan:-

• Death cover – sum assured + value of all units
• TPD cover – similar to death benefit
• Maturity – value of all units payable at age 100 nearest birthday
• Entry age: 1 – 65 nearest birthday
• Minimum premium is RM 100 per month

Coverage term:

• Death coverage – up to age 100 nearest birthday
• TPD benefit – up to age 60 nearest birthday
• Premium paying term: up to age 100

One of the key point in Powerlink is the high maximum sum assured. This means for a given premium amount that you pay, you can get very high cover. This comes at the expense of the policy possibly have a shorter coverage term. For example, if you took up a loan and intend to pay up the loan in say 15 years or so, you can use this policy to max out the protection while paying a minimal premium. If however, you intend to keep the policy to old age of say 60 or even older, then maxing out on the cover might not be a good idea.
The chart below shows the allocation rate i.e. the percentage of premium you pay that’s converted to units from year 1 to 7 and beyond.

The other benefits that can be attached are :-

1. HealthCover & HealthCover Plus – added protection against critical illness
2. WealthCover – regular premium payments to increase investment value
3. PA Cover – protection for accidental death, disability, medical expenses and weekly income benefit
4. PayorCover – Waiver of premium upon diagnosis of a critical illness
5. MediCover – comprehensive health and medical coverage
6. SecureCover – payor waiver of premium protection
7. SecureCover Plus – premium waiver plan with joint life assured protection