Citibank Launches RMB Seven-Year Endowment Plan

Return up to 2.02% p.a.

HONG KONG, Sept. 15 /PRNewswire-Asia/ -- Citibank launches a seven-year single premium endowment plan with return up to 2.02% per annum -- AXA Yuan RMB Endowment Plan ("the Plan") that allows customers to enjoy guaranteed return and life protection, as well as to grasp the opportunity to tap into the potential appreciation of the Renminbi. 

The Plan is available to customers between the ages of 15 days to 80. Its minimum and maximum Sum Insured are RMB50,000 and RMB10,000,000 respectively. No medical examination is required.  Maturity Benefit will be paid in a lump sum in Hong Kong dollars at the end of the seven-year policy term. 

Offer period is from September 16 - December 29, 2010.  The first 50 customers who have successfully enrolled in the Plan with a single premium of RMB500,000 or above will be eligible for an AXA 999.9 gold coin weighing 1/4 oz.  In addition, customers who enroll in the Plan with designated single premium will be eligible to the quarterly life insurance offer*. Please call 24-hour insurance hotline 2860 0222 or visit Citibank branches for enquiries.

For the offer details, please refer to: http://creativegp.com/Citibank_pressnote/2010_Q3_Insurance_Offer.pdf

Terms and Conditions of the Promotion

1. The Promotion Period runs from 16 September 2010 to 29 December 2010 (both dates inclusive).
2. Theoffer of gold coin is only applicable to the first 50 policy owners who successfully enroll in the Plan with a single premium of RMB500,000 or above (based on the policy application date in AXA's record).  The application form of the relevant policy must be signed by the policy owner within the Promotion Period and the policy must be issued by AXA on or before 31 December 2010 in order to be eligible for the gift.
3. The gifts are offered upon successful enrolment, subject to approval of the policy and after the policy cooling-off period provided that the policy is still in effect.
4. Each eligible policy owner who has applied for more than 1 policy will only be entitled to the above offer ONCE during the Promotion Period.
5. The gifts are on first-come-first-served basis, while stock lasts.
6. For other terms and conditions, please refer to www.citibank.com.hk/insurance

Remarks:

1. AXA reserves the right to withdraw the offer of this Plan at any time at its sole discretion without prior notice.  If this Plan offer is being withdrawn, the actual amount of single premium paid will be refunded without interest.
2. The guaranteed Maturity Benefit and the guaranteed annualized return are calculated based on the Guaranteed Cash Value available at the maturity of the policy with the assumptions that all premium and benefit payments are made in RMB, there is no indebtedness under the policy and the Sum Insured of the Plan remains unchanged throughout the policy term.  If the policy is surrendered before the policy maturity, the guaranteed Maturity Benefit will not be enjoyed nor returned and the surrender value received may be considerably less than the single premium that have been paid.
3. Interest will be charged on policy loans at such rate as determined by AXA from time to time.  If the policy loans and interest are not repaid, they will be deducted from any benefits payable under the policy.
4. Policies will be issued with specific effective dates as determined by AXA.  AXA reserves the right to decline any applications for the Plan with full refund of the actual amount of single premium paid by customer without interest.
5. The maximum Sum Insured per Insured includes the total sum insured of all RMB-denominated plan(s) issued by AXA and any authorized insurers which are affiliated with AXA in Hong Kong and / or Macau as designated by the Company.

Disclaimers:

1. Citibank (Hong Kong) Limited is acting as an insurance agent for AXA China Region Insurance Company (Bermuda) Limited and its role is limited to introducing the Plan only and Citibank (Hong Kong) Limited shall not be responsible for any matters in relation to the products provided.
2. The Plan is an insurance product, not a bank deposit.  The saving component of the Plan is subject to risk and possible loss.  Termination of the policy before maturity may result in a less amount received than single premium paid.
3. Unless specified, insurance products are not bank deposits or obligations of, guaranteed or insured by Citibank (Hong Kong) Limited, Citibank, N.A., Citigroup Inc. or any of their affiliates or subsidiaries, or any local governmental agency.
4. AXA China Region Insurance Company (Bermuda) Limited is not a subsidiary or an affiliate of Citibank (Hong Kong) Limited, Citibank, N.A. or Citigroup Inc.
5. Citibank (Hong Kong) Limited being registered with the Insurance Agents Registration Board established by the Hong Kong Federation of Insurers, acts as an appointed insurance agent for AXA China Region Insurance Company (Bermuda) Limited of the above insurance plan.