David G. Curmi, Chief Executive Officer of MSV Life, introduced the seminar by explaining that whilst 2011 has proven to be a difficult year, sales of MSV Life products continued to be encouragingly strong. He said that ‘at the forefront of the company’s strategy, the Company remained committed to bringing new and innovative products to the Maltese market’. During 2011 MSV Life introduced various new products namely the Free Life Insurance for New Parents, the new Child Savings Plan, a range of Business Protection Plans and now a unique Whole of Life Assurance Plan for persons aged over 50.
Chief Officer - Sales Management, Stuart Fairbairn whilst highlighting the key benefits of the new product said that ‘the MSV Guaranteed Over 50’s Plan is designed for those who would like to leave an immediate tax free lump sum on death’. He explained that the product is a whole of life plan, meaning that it pays out on death, whenever it occurs, therefore it has no maturity or cash surrender value. The plan is unique in Malta in that MSV Life would guarantee acceptance of any Maltese resident aged between 50 and 80, regardless of health, gender or age. Furthermore applicants would not be required to undergo medical examinations and would not even be asked any medical questions. Applying for the MSV Guaranteed Over 50’s Plan is a very simple and straightforward process as applicants will only be required to provide their personal details and the amount of monthly premium they wish to pay.
Premiums start from as little as €5 per month and acceptance of cover is guaranteed - meaning any person aged between 50 and 80 can apply and acceptance is guaranteed. Mr. Fairbairn confirmed that clients can choose any premium between €5 and €100 a month, with a maximum amount payable on death set at €33,789.
Mr. Fairbairn added that ‘the MSV Guaranteed Over 50’s Plan is a straight forward yet effective product that could help to pay for funeral expenses or any outstanding debts or to leave as a legacy’.
The MSV Guaranteed Over 50’s Plan is available from any authorised Tied Insurance Intermediary of MSV Life p.l.c., through Insurance Brokers or from any branch of Bank of Valletta p.l.c. and APS Bank.
MSV Life p.l.c. is authorised by the Malta Financial Services Authority to carry on long term business under the Insurance Business Act 1998. COM 301211/1