General insurer Allianz Deutschland has introduced the company's first multi-line insurance product for those aged 55 and over, which offers immediate coverage for illness, extended care, or disabling injury.
<p>This new product, EnkelPolice ('Grandchildren's Policy') allows grandparents to provide for their grandchildren in a new way. The Allianz 'Grandchildren's Policy' offers extensive insurance coverage for grandchildren, children, godchildren, nieces and nephews â€“ from birth until at least age 18. <br /><br />Customer surveys told us the grandparent generation wanted to help provide for their grandchildren, explains Gerhard Rupprecht, chairman of the Allianz Deutschland board of management. This innovative product of ours provides a solution that covers children's needs for both insurance and a future financial safety net.<br /><br />The new product covers many benefits, including a private health insurance rider, as well as a monthly extended care payment for children. It also includes a fund-based annuity, which can be paid out for a financial boost at the child's 18th birthday. <br /><br />The Grandchildren's Policy is the first example of a new world of multi-line products from Allianz. The group said that it will continue to focus on products specially designed for clients aged 55 and above.</p>