Insurance

Fubon Life Hong Kong announces launch of Fortune Bright Saver

Fubon Life Insurance (Hong Kong) has announced the official launch of Fortune Bright Saver, a 5-year-pay life insurance plan designed for customers to enjoy guaranteed regular income and long-term wealth management to help fulfil multigenerational financial needs.

Patricia Wong, Chief Sales and Marketing Officer, Fubon Life Hong Kong, said: “The era of low interest rates has probed customers to look for financial solutions that offer guaranteed return. For mass affluent and high net worth customer segments, there has been an increasing need to allocate their assets to a secure investment with stable return. With this in mind, Fubon Life is pleased to develop a plan that offers annual payouts. From the 1st to 5th Policy Anniversary, the annual Guaranteed Cash Coupon is 3% of the Nominated Amount of the Policy. In the subsequent years, the annual Cash Coupon rate is guaranteed to be 2%, together with additional non-guaranteed Annual Dividends to be distributed.”

“Apart from providing regular income, Fortune Bright Saver also offers a turnkey solution for customers to build a platform for multigenerational wealth management, so that the Policy is not just a financial protection for the next generation but even the third generation of the family,” Wong continued.

To pass on the wealth, the Plan offers several ways for the Policyowner. Firstly, the Policyowner can opt for changing the Insured Person to offer the protection from one family member to the other as the financial needs change, the firm reported in a press release.

Secondly, if the Policyowner would like to pre-select a succeeding Insured Person, the Policyowner can also apply to designate a Contingent Insured Person well in advance to ensure the protection sustains. Thirdly, the Policy ownership can also be transferred to a designated representative as the Successor Owner, which will take effect if the original Policyowner passes away. All these arrangements will help to pass on the protection and sustain a healthy financial picture, read the press statement.

The Plan is available for customers aged between 15 days to 75 at time of application. It comes with the policy currency option of HK or US dollars. By paying 5 years of premium, the Plan will cover a period of up to age 110 of the Initial Insured Person. Life protection benefit will be offered in the unfortunate event that the Insured Person passes away and no Contingent Insured Person is designated or becomes effective.