New five-year capital guaranteed endowment plans
The plans are available in Renminbi and Singapore dollars.
China Life Insurance Singapore has launched the second series of its five-year endowment plans – China Life SaveReward 101 Series II (RMB and SGD) endowment plans – following the success of the earlier series. The endowment plans are designed to appeal to those who want to grow their savings at attractive guaranteed maturity yields.
“Our five-year endowment plans enable our customers to enjoy 100-percent capital guarantee and attractive guaranteed yields of 3.62-percent p.a. (RMB) or 2.25-percent p.a. (SGD) when the plans mature without worrying about market volatility,” explained Tony Chow, chief executive of China Life Insurance Singapore.
He added: “We believe that this Series II endowment plans will be a preferred endowment plan in today’s environment for customers seeking to have secured and attractive guaranteed returns to grow their savings with peace of mind. By offering the plan in RMB as well, we want to provide customers the opportunity to diversify in RMB, which is presently the fifth most widely used currency for international payments and the second in terms of global trade finance.”
The endowment plans provides 100-percent capital guaranteed upon maturity with no medical underwriting, and customers only need to make three yearly premium payments to reap the guaranteed lump sum in five years. There is however an age limit to when one can get on the plans which is 75 years of age last birthday.
Other product features:
- Affordable yearly premium – It is easy to kick start the plans as only a low minimum yearly premium is required: for the RMB plan: RMB10,000 (S$2,079.24) yearly and for SGD plan: S$3,000 yearly.
- Protection against death – Be covered against death throughout the plan duration.
As the plans are limited tranche products, China Life Insurance Singapore will stop accepting applications on May 31, 2017 or when the tranche is fully subscribed, whichever is earlier.
From now till February 20, 2017, customers who purchase the plan with a yearly premium of at least S$20,000, will receive Robinsons vouchers (whilst stocks last).