BEA Life, a wholly owned subsidiary of Hong Kong-based Bank of East Asia, has unveiled a new endowment plan to assist customers with renmbinbi-related investments and guaranteed returns.
Known as WealthBuilder RMB Insurance (II) plan, the new insurance plan will allow customers to receive life protection while enjoying a guaranteed annual return of 2.95% or 3.08% upon policy maturity.
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Available as an endowment plan to persons aged between three months and 70 years, the new insurance plan will offer customers with a short premium payment period of just two years and life protection for five years.
Customers will also have an option to choose between a USD plan and a HKD plan, with guaranteed annual returns of 2.95%, upon policy maturity. The plan offers guaranteed life protection up to 105% of the total premium paid.
In addition, the plan offers a guaranteed interest rate of 4.25% for the premium prepaid, paid upon the effective date of the second policy year.
The minimum annual premium of the is CNY4,000,000 or less per insured person.
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By GlobalDataBEA Life managing director Patrick Wan, said: "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."
