Hong Leong Assurance (HLA) is redefining retirement protection with the launch of HLA Future Secured, a transformative plan designed to turn Malaysia’s aging concerns into a future of financial stability and resilience.
As Malaysia edges closer to becoming an aging nation by 2030, a significant portion of the population faces the prospect of outliving their savings[1]. Compounding this situation, less than half of Malaysians are insured, leaving many vulnerable to unforeseen circumstances[2]. Notably, the Alzheimer’s Disease Foundation Malaysia (ADFM) projects that dementia cases will increase by 312% by 2050[3], and studies suggest that 1 in 4 Malaysians may experience a stroke by 2040[4].
Loh Guat Lan, Group Managing Director and CEO of Hong Leong Assurance stated, “HLA Future Secured is crafted with Malaysia’s evolving demographic landscape in mind. Proactive financial planning and timely preparation are essential, whether for financial relief in later years or ensuring the secure transfer of a legacy. This is particularly vital for the “sandwich generation” who balance caring for aging parents, supporting children, as well as managing own expenses and financial pressures.”
HLA Future Secured aims to revolutionise insurance offerings by prioritising living benefits beyond the traditional death and disability benefits. From day one, the plan provides coverage up to RM 4 million for inability to perform Activities of Daily Living (ADLs). In addition, starting from age 60 onwards, policyholders have the flexibility to draw down up to 70% of the sum assured in the event of admission to ICU for 10 days or hospitalisation bill is RM 70,000 and above, or upon diagnosis of Stroke, Dementia, or Parkinson’s disease. This forward-thinking feature ensures policyholders have access to the necessary funds to maintain their quality of life and alleviate financial burdens on their families.
Loh further added, “HLA Future Secured empowers individuals to navigate their Golden Years with confidence, knowing they are well-protected and supported. The option to begin drawdown at age 60 is crucial, aligning with the official retirement age when employer-provided protection plans typically cease, establishing a reliable and reassuring safety net during retirement.”
By addressing the issues of underinsurance and providing comprehensive, flexible coverage, HLA Future Secured stands as a pivotal solution for Malaysians seeking to secure their financial future amid an evolving demographic landscape.
For more information on HLA Future Secured, please visit
https://www.hla.com.my/en/personal/hla-future-secured-rider.html
3. https://www.adfm.org.my/dementia-cases-set-to-rise-312-per-cent-by-2050-is-malaysia-prepared/
