Great Eastern Life Assurance (M) Bhd has introduced two investment-linked products under the banner of Smart Portfolio: the Smart Protect Essential Insurance and Smart Invest Premier Insurance.

Smart Protect Essential Insurance is built on a foundation of protection, to ensure policyholders and their loved ones come first if the worst happens. Meanwhile, Smart Invest Premier Insurance is for those who want to build wealth. “Due to the differing needs, the insurance premiums paid that are allocated to the unit linked funds, that is, the premium allocation rate, vary between the two plans," said Great Eastern's director and CEO, Koh Yaw Hui, during the launch. "For example, policyholders of the Smart Invest Premier Insurance will enjoy a high allocation rate of 95% to investments right from the first policy year and onwards.” Koh adds that the Smart Portfolio caters to four specific needs -- namely protection, investment, education and retirement -- with the Smart Education Series and Smart Retirement series to be revealed at a later stage.

Smart Protect Essential Insurance policyholders can attach comprehensive riders such as critical illness benefits, accident benefits, medical reimbursement and hospitalisation benefits, lady care and/or waiver of premium, to ensure that their loved ones are protected financially should anything unforeseen happen to the policyholder. Smart Invest Premier Insurance policyholders can attach additional riders such as waiver of premium for disability and/or critical illness to ensure continuity of the investments even if their health takes an unfortunate turn. For both plans, policyholders may choose and/or switch their unit-linked funds, which include Lion Strategic Fund, Lion Fixed Income, Lion Progressive Fund, Dana Restu & Dana Sejati, and Lion UK-I Fund/ Lion US-I Fund/ Lion AU-I Fund.

The target group of the investment-linked products is the low-to-middle-income group with protection and/or investment need(s). Minimum monthly premiums for Smart Protect Essential Insurance and Smart Invest Premier Insurance are RM100 and RM500 respectively.