The plan, which is an RMB-denominated endowment plan, will offer life protection for five years and guaranteed annual returns of 2.4% upon policy maturity, with guaranteed protection of up to 105% of the total premium paid, BEA said.
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The company added that the plan will allow customers to make premium payments in RMB or Hong Kong dollars (HKD) and settle policy payment in RMB3, with a minimum annual premium of RMB35,000.
Commenting on the launch, BEA Life managing director, Patrick Wan, said: "Since the first launch of RMB insurance plan in 2010, our RMB insurance plans have been well received by the market. To cater to the continuing strong demand, we have developed the new WiseSaver RMB Insurance plan, which we believe will become one of the most popular products of its kind in the market.
"In addition to guaranteed high returns, it enables customers to enjoy potential RMB appreciation within just five years to meet their personal financial goals," Wan added.
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