Fubon Life Insurance (Hong Kong) has launched Fortune Bright Saver, a 5-year-pay life insurance plan designed for customers who want guaranteed regular income and long-term wealth management.
From the first to fifth policy anniversary, the annual guaranteed cash coupon is 3% of the nominated sum 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.
The plan is available for customers aged between 15 days to 75 at time of application and it comes with the policy currency option of Hong Kong or US dollars.
By paying five years of premium, the plan will cover a period of up to age 110 of the initial insured person.
Third generation planning
Patricia Wong, chief sales and marketing officer at Fubon Life Insurance, said: “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.”
To pass on the wealth, the plan offers several ways:
- Firstly, the policyowner can opt for changing the insured person to offer the rotection from one family member to the other as the financial needs change;
- 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; and
- 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.