HSBC Insurance Singapore has introduced two enhanced versions of its Universal Life Insurance plans to cater to the needs of clients looking for wealth planning tools.
The life insurance product known as Jade Legacy Universal Life is suitable for customers looking to protect their legacy with a minimum of SGD750, 000 ($556,507). Another plan Jade Ultra Legacy Universal Life is available with a minimum sum insured of SGD5m ($3.7m).
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To make both universal life plans more affordable, the company has slashed the premiums by up to 10% for customers from Hong Kong, Macau, Beijing/Shanghai, Philippines, Thailand, Indonesia and Malaysia.
Customers who buy either Jade Legacy or Jade Ultra Legacy can also avail a guaranteed crediting rate lock-in for the first year.
Both the plans feature a no-lapsed guaranteed benefit option, shorter surrender penalty, and higher non-medical limit, among other benefits.
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