QR-code

China Life Insurance Singapore Launches China Life SaveReward (RMB) Endowment Plan with Attractive Guaranteed Yield of 3.55% per annum upon Maturity

  • Attractive Guaranteed Yield of 3.55% p.a. upon Maturity
  • A Lump Sum upon Maturity
  • 3 Years Premium Commitment
  • Diversify Investment Portfolio with Renminbi (RMB)

Singapore, 22 February 2016 – China Life Insurance (Singapore) Pte. Ltd. ("China Life Insurance Singapore") launches a 5-year China Life SaveReward (RMB) endowment plan with a guaranteed yield of 3.55% per annum upon maturity, with premium payments for just 3 years.

"China Life SaveReward (RMB) endowment plan is designed to benefit customers with a rewarding guaranteed yield when the plan matures. This offers customers the benefit of reaping a secured guaranteed return in RMB and the opportunity of earning higher potential returns if RMB appreciates at policy maturity." said Ms Maria Ching, Chief Executive of China Life Insurance Singapore. "With our guaranteed yield of 3.55% per annum upon maturity, customers can also take the opportunity to diversify their portfolios in RMB." 

The plan also offers protection against death1 during the policy term. The minimum annual premium of this plan is RMB 10,000.

With effect from 1 October 20162, the RMB will be the fifth currency to be included in the basket of currencies which makes up the International Monetary Fund's Special Drawing Right. This decision by the International Monetary Fund Executive Board to include the RMB in this elite reserve currency basket reflects the growing international use and trading of RMB in the global economy.

1. In the event of death of the life insured, we will pay a lump sum of 400% of the annual premium less amounts owing to us (if any).

2. IMF Survey Magazine: Chinese Renminbi to Be Included in IMF's Special Drawing Right Basket, 1 December 2015.

 

About China Life Insurance (Singapore) Pte. Ltd.

China Life Insurance (Singapore) Pte. Ltd. is a wholly-owned subsidiary of China Life Insurance (Overseas) Company Limited ("China Life Overseas Company"), which is wholly-owned by China Life Insurance (Group) Company. China Life Insurance (Group) Company is the largest financial insurance corporation in China. The parent company is a Fortune Global 500 company, which ranks 94 in 2015, for 13 consecutive years with brand value of over RMB 182 billion*.

China Life Overseas Company has been providing financial services in Hong Kong and Macau for over 30 years. Its business covers 3 main categories, namely insurance, investment as well as provident fund service. In 2014, its premium income was HKD30 billion, with a breakthrough in agency force of over 3,000 people. At present, China Life Overseas Company is a leading life insurance company in both Hong Kong and Macau with an asset value of more than HKD120 billion. In November 2014, China Life Overseas Company's prudent financial management and stable outlook are underscored by the rating accredited by international rating agencies, including Moody's "A1" (insurance financial strength rating) and Standard & Poor's "A+" (long-term local currency issuer credit rating and insurer financial strength rating).

As part of China Life Insurance (Group) Company, China Life Insurance (Singapore) Pte. Ltd. is committed to offering a full suite of value-added financial solutions to clients to fulfill their protection, savings and investment needs. We proactively assimilate into the society, and hope to bring the growth and enjoy the success with Singapore through the collaboration between China and Singapore.

*Source: Top 500 Most Valuable Chinese Brands by World Brand Lab as at June 2015.

 

Media Contact:

Ms Abigail Han
Deputy Head, Marketing
China Life Insurance (Singapore) Pte. Ltd.
Tel: +65 6727 4837
Email: AbigailHan@chinalife.com.sg