Market-leading[1] guaranteed maturity returns of up to 4.5% p.a.[2]
Short premium payment term to achieve financial goals with ease
HONG KONG, April 3, 2023 /PRNewswire/ -- AXA Hong Kong and Macau (AXA) today announced the launch of 5-Year GoalSaver, a non-participating savings plan that helps customers to achieve fast-track short-term financial goals with life protection for a peace of mind.
With market-leading[1] guaranteed returns of up to 4.5% p.a.[2] upon a short maturity period of 5 years, the new 5-Year GoalSaver offers an extra short premium payment term of just 2 years with an annual premium as low as USD 625. This allows customers to fuel their wealth without the burden of a long-term payment commitment. If customers choose to pay the plan's total annual premium in one go3 at the time of application, they can even enjoy a premium discount of 20.6% on the annual premium of the second policy year, enabling greater flexibility in extra savings.
Janet Lee, Chief Life and Health Insurance Officer, AXA Hong Kong and Macau, said, 'Amid the current market uncertainty, we understand that it is our customers' desire to balance their portfolios and lock in stable returns to fulfil different savings targets. The new "5-Year GoalSaver" provides competitive guaranteed returns with extra flexibility, enabling customers to cope with an ever-changing market and build their wealth with ease. It is a testament to AXA's commitment to putting customers first and matching their needs with our innovative products and services.'
Customers can apply for the 5-Year GoalSaver by completing simple and easy procedures with no medical declarations required. In the unfortunate event of the death of the insured, a death benefit will be payable to the beneficiary.
The 5-Year GoalSaver is offered with a limited quota. For more information about the product, please visit: https://www.axa.com.hk/en/5-year-goal-saver-savings-plan
The above information is for reference only. For details on product features, content, terms and exclusions, please refer to the product brochure and policy provision.
About AXA Hong Kong and Macau
AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 51 markets and serving 93 million customers worldwide. Our purpose is to act for human progress by protecting what matters.
As one of the most diversified insurers offering integrated solutions across Life, Health and General Insurance, our goal is to be the insurance and holistic wellness partner to the individuals, businesses and community we serve.
We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the importance of mental health through different products and services such as offering free mindfulness practice resources through Mind Charger which is fully accessible to our customers and the public via our holistic wellness platform AXA BetterMe.
THIS PRESS RELEASE IS AVAILABLE ON AXA'S WEBSITE: AXA.COM.HK
IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA's actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 - "Risk factors and risk management" of AXA's Universal Registration Document for the year ended December 31, 2019, for a description of certain important factors, risks and uncertainties that may affect AXA's business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as part of applicable regulatory or legal obligations.
[1] This is based on a comparison among non-participating savings plans, which benefit term of 5 years or below and the maximum annual premium of USD31,250 or below, available for new business as of 14 March 2023 provided by insurers which are covered in the Provisional Statistics on Hong Kong Long Term Insurance Business for January to December 2022 (in respect of life & annuity (non-linked (Class A)) individual business (direct new business)) published by the Insurance Authority. The comparison was made with reference to the information on the company website of the relevant insurers and other information available to AXA as of March 2023.
[2] It is projected based on the following assumptions (i) lump sum payment with levies (if applicable) is paid in full as planned; (ii) neither death benefit nor surrender value has been or will become payable at policy maturity; (iii) levy (if applicable) is not included in the calculation; and ( iv) throughout the policy term, the notional amount of 5-Year GoalSaver remains unchanged.
[3] Lump sum payment is the sum of (i) annual premium of the 1st year policy year and (ii) the annual premium of the 2nd policy year after premium discount. Total amount payable at policy inception shall be equal to the sum of lump sum payment and the levies on the annual premium of the 1st and 2nd policy year (if applicable). It must be paid in full to the Company prior to policy inception. Otherwise, the policy will not be issued.
