Education plan combines unit trust, insurance and trust nomination services
Kuala Lumpur: CIMB Wealth Advisors today launched its 3 in 1 Education Plan, a product that combines unit trust investment, insurance and takaful coverage and trust nomination services in a complete solution to enable parents to plan for their children’s education.
The 3 in 1 Education Plan is an innovative and comprehensive solution that helps customers create, protect and preserve their wealth using one product. Funds are invested in a diversified portfolio of assets that offer potential capital appreciation. The investment is preserved by insurance or takaful coverage, while the trust nomination service ensures that the funds reach beneficiaries without delay. Customers are also given the flexibility to top up their investment and access the funds at anytime.
“Costs of education are escalating year after year, while many Malaysian parents depend on loans, scholarships and gains from their investments to support their children’s tertiary education. These factors indicate that there is a tremendous need for an effective education savings plan that is flexible,” explained Tan Beng Wah, Chief Executive Officer of CIMB Wealth Advisors.
He said the 3 in 1 Education Plan is unique as it can potentially give higher returns than traditional education plans available in the market. “Investors can constantly top-up their investments to create faster and potentially better investments results while enjoying the convenience of accessing their savings anytime,” explained Tan.
The 3-in-1 Education Plan remains active upon an investor’s death or permanent disability. “The insurance feature will safeguard the fund until maturity after which the funds will be passed on to the beneficiary,” he elaborated. The plan is available in conventional and Islamic versions with a choice of investment tenure from 9 years to approximately 20 years.
The 3 in 1 Education Plan is the result of collaboration between four different businesses within CIMB Group, namely CIMB Wealth Advisors, CIMB Aviva, CIMB Trustees and CIMB-Principal Asset Management. “This is another example of how CIMB Group employs its universal banking model to offer innovative solutions to its customers”, said Tan.
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More information at Pengurusan Kewangan
Filed under: Article, Pengurusan Kewangan, Unit Trust @ Amanah Saham
