HONG KONG, March 13, 2018 /PRNewswire/ -- FTLife Insurance Company Limited ("FTLife") launched the new Regent Insurance Plan 21 ("Regent 2") to provide customers with whole-life insurance protection until new insured reaches age 128 -- a first-in-market advantage to help grow wealth over an extended period of time. The new plan also offers a legacy planning solution for policyowners to allocate their wealth flexibly via assignment of beneficiaries and making provision such that the family wealth can pass on to the next generations endlessly.
CEO Gerard Yang said, "For the past decade, the number of high-net-worth individuals in mainland China has increased fourfold. Moreover, Hong Kong continued to have the largest concentration of wealthy population in mainland China. The wealthy customers are looking for wealth management solutions that help preserve wealth, provide comprehensive protection, and estate planning for the generations to come2. The newly launched 'Regent 2' enables policyowners to pass on benefits to the beneficiaries through a lump-sum payment, regular payments or a combination of a lump-sum payment with regular payments. It serves as a simple and straightforward solution to allocate and transfer wealth while eliminating all the hassle to deal with complicated inheritance procedures."
"Regent 2" brings six key advantages:
1. First-in-market3 advantage to pass on your wealth infinitely: After the first policy anniversary, you may change the insured for unlimited times4. The coverage period will be adjusted to the 128th birthday of the new insured. Policy value would have sufficient time for wealth accumulation and can be passed on to the next generations infinitely.
2. Terminal Dividend Lock In Option: By exercising the first-in-market3 "Automatic Lock In Option" or "Manual Lock In Option", you can accumulate the terminal dividend in the form of annual dividends. The converted terminal dividend will become guaranteed and bring you a stable return. The terminal dividend which has been converted into annual dividends can also earn interest.
3. Premium Holiday: This plan offers first-in-market3 premium holiday up to 4 years to provide you with financial flexibility to deal with unexpected events and short-term needs without the need to worry about the immediate termination of the policy.
4. Free Premium Waiver: If the insured cum policyowner is between 18 and 60 years old, and diagnosed with total permanent disability5 before the age of 75; or if the insured is 17 years old or below, and the policyowner or contingent policyowner is diagnosed with total permanent disability or dies6 before the age of 75, FTLife will pay the future premiums of the basic plan up to USD 500,0007 to mitigate the burden of your loved ones.
5. Accelerate Wealth Growth: In addition to guaranteed cash value, the plan distributes annual dividend8 starting from the first policy anniversary – payment starts comparatively early among similar products. Also, the total rate of return is among the tops of other products in the market9. The total projected return can be up to 6.82%10 at insured's age 128.
6. The policyowner can choose a Death Benefit Settlement Option, either a lump-sum payment, regular payments, or a combination of a lump-sum payment and regular payments11, to allocate his/her assets to the beneficiaries. The policyowner can also opt for full surrender to receive either a lump-sum payment or regular payments12 to settle the surrender benefit.
Chief Product Officer Christine Yeung said, "FTLife enhances the products and services relentlessly to meet customers' demands and stay ahead of the market. 'Regent 2' is highly innovative and flexible. The newly added Premium Holiday allows policyonwers to make flexible financial arrangement to meet personal needs. The first-in-market Automatic Lock In Option turns expected returns into guarantee. Furthermore, the unlimited change of the insured and protection until the new insured reaches age 128 are the unique features provided by FTLife to help accumulate huge amounts of wealth through an incredibly long period of time."
Choices of payment options & no medical underwriting
Regent Insurance Plan 2 (Prestige Version) provides premium payment periods of 3, 6, 12 and 15 years. If you opt for the 3-year premium payment period, you can choose to pay a single premium upfront. Regent Insurance Plan 2 (Premier Version) offers premium payment periods of 2, 5 and 10 years. You also have the option to settle the total premiums in full via a lump-sum payment if you opt for 2-year or 5-year premium payment period. Moreover, both versions require no medical check-up which simplifies the application process for you to start accumulating wealth at the earliest stage possible.
Premium discounts to further grow your wealth
Chief Marketing Officer Angela Yam said, "FTLife always puts customers first and is committed to helping them achieve financial goals in different stages of life. From now until 31 May 2018, upon successful application of the 'Regent 2' with designated premium amount, you will enjoy a refund of a certain percentage of the first year's premium, thereby accumulating wealth with ease."
Remarks:
1. The Regent Insurance Plan 2 includes Prestige Version and Premier Version.
2. Source of information: Hong Kong Economic Times, 9 January 2018
3. "First-in-market" item is concluded based on the same type of life insurance saving products in the market as of February 2018.
4. Changing the insured will not affect the units, cash value and policy year, and maturity date will be changed to 128 years old of the new insured. The new insured must be aged between 15 days and 65 years of age (last birthday) and must not be older than the initial insured by 10 years. The change of insured is subject to the prevailing administrative rules and must be endorsed by the policyowner, insured and assignee (if any). Both the new insured and the current insured must be alive at the time the insured is changed.
5. "Waiver of Premium Benefit" is applicable to the insured whose age at policy issuance or the change of insured is between 18 and 60 and is the policyowner at the same time and is diagnosed with total permanent disability before the age of 75.
6. "Payor Benefit" is applicable to the insured of the age 17 or below; the policyowner (including contingent policyowner) whose age at policy issuance or the change of the policyowner (including contingent policyowner) is at the age of 60 or below and dies or is diagnosed with total permanent disability before the age of 75.
7. Depending on the premium payment period of the policy. If the incident is resulted from accident, immediate protection will be given. If a person dies or is diagnosed with total permanent disability due to illness, a 2-year waiting period is required.
8. Annual dividend, terminal dividend and interest from accumulated annual dividend are not guaranteed.
9. It is based on the total rate of return in the 100th policy year.
10. Assumes the insured applied Regent Insurance Plan 2 (Premier Version) with 2-year payment term or Regent Insurance Plan 2 (Prestige Version) with 3-year payment term at age 0 (15 days) and total premiums paid are US$600,000.
11. The policyowner can opt for the beneficiary to receive death benefit as a fixed amount at regular intervals within a specified period of time. Only lump-sum death benefit payment is applicable if the policy is assigned.
12. After the policy has been in force for 5 years, the policyowner can opt for full surrender and settling the benefit in a lump-sum payment, or regular payments (if the surrender benefit reaches USD 50,000 or above). The surrender benefit yet to be paid will bear interest.
Important notes:
About FTLife Insurance Company Limited
FTLife Insurance Company Limited ("FTLife") is one of Hong Kong's largest life insurance companies and a wholly-owned subsidiary of Tongchuangjiuding Investment Management Group Co., Ltd. ("JD Group"). Capitalising on a heritage of professionalism and excellence in serving clients, FTLife seeks to become a leading insurance group in Asia. It serves individual and institutional clients from a diverse portfolio of financial protection and wealth management products. FTLife aims to excel by cultivating lasting relationships and dedicates itself to providing clients with best-of-breed financial services to help them lead fulfilling lives.
About JD Group
Headquartered in Beijing, JD Group has offices in China, North America and other parts of Asia. The Group runs companies in the financial services industry and is engaged principally in investment, Internet finance, and insurance. One such business is JD Capital, a China-based leader in private equity investment. The Group aspires to become an insurance-centric financial asset management platform operating on a global scale.
Media inquiries
FTLife Insurance Company Limited
Branding, Marketing & Communications
Tel: +852 2591 8888
Email: ftlhk.mkt@ftlife.com.hk
