The Bank of East Asia, Limited announces the launch of the WealthBuilder RMB Insurance (II) plan by BEA Life, BEA’s wholly-owned life insurance arm.
Customers who apply for the Plan during the application period from now until 7th June, 2014 can enjoy the potential benefit of Renminbi appreciation and receive a guaranteed annual return of 2.95% or 3.08% upon policy maturity.
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The Plan is an RMB-denominated endowment plan available to persons aged between three months and 70 years. It offers life protection for five years and a short premium payment period of just two years, with a minimum annual premium of as low as CNY35,000. Customers can enjoy guaranteed annual returns of 2.95% upon policy maturity, with guaranteed life protection of up to 105% of the total premium paid. By prepaying the premium of the second policy year upon enrolment, customers can enjoy a guaranteed interest rate of 4.25% for the premium prepaid, paid upon the effective date of the second policy year. Together with the interest earned, the plan’s guaranteed annual returns will be increased to 3.08% upon policy maturity.
Mr. Patrick Wan, managing director of BEA Life, said: "Despite the weakening of the RMB in 2014, many people are attracted to the relatively high returns offered by RMB-denominated products. However, those with smaller budgets may be unable to meet the high deposit requirement for greater potential returns. With a minimum annual premium of just CNY 35,000, WealthBuilder RMB Insurance (II) provides even higher guaranteed returns. With WealthBuilder RMB Insurance (II), customers can benefit from potential long-term RMB appreciation and achieve their financial goals."
Policy payments are settled in RMB. Customers can choose to make premium payments in RMB or Hong Kong dollars. The application process is simple and easy, and no medical examination is required for plans with an annual premium of CNY4,000,000 or less per insured person.
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