PETALING JAYA: Public Bank recently rolled out the PB Alpha Edu and the PB Journey mobile application developed with the aim at helping parents plan ahead towards providing their children with financial security.
The PB Alpha Edu, a non-participating insurance plan with investment-linked features serves as an education fund while covering death and total and permanent disability.
Distributed by Public Bank and underwritten by AIA Bhd, the plan has a maturity benefit when the child reaches age 21. Parents will appreciate the benefits of this plan where the premium paid since its inception will be harvested when their children begins their tertiary education. In the event if parents met with unfortunate events, they can prepare for such circumstances by adding the PB Education Protector Rider where their children will receive yearly income benefit while adding additional premium waiver riders will keep the PB Alpha Edu policy active without the need for premium payment for the remainder of the policy years.
The PB Journey app was designed to help parents teach their children good money habits or instill “Wisdom In Saving Early” (Wise) in a fun interactive way.
Through the learning modules, children can learn the value of money and how to be financially responsible under the guidance of their parents. They can set their financial goals and be rewarded when the goals are achieved. The earlier parents learn the advantage of teaching money management lessons to their children, the more financial savvy their children will come to be, a crucial life skill to provide for a child.
The PB Journey app, a digital banking product provides a seamless access to the Public Bank’s Wise Savings Account, which is open to all children below 18 years old with a minimum of RM1 deposit to enjoy attractive interest rates. Another new added feature targeted to be launched in the first half of this year is the DuitNow QR payment services in the PB Journey app where children can also spend and keep track of their pocket money.
