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China Life Insurance Singapore Launches China Life SaveReward 101 Series II (SGD and RMB) Endowment Plans

  • Attractive Guaranteed Maturity Yields of 3.62% p.a.* (RMB) and 2.25% p.a.* (SGD)
  • 100% Capital Guaranteed upon Maturity
  • No Medical Underwriting
  • Opportunity to Diversify in Renminbi (for RMB plan)
  • Provides Protection against Death1
  • 3 Years Premium Payment Term

Singapore, 1 December 2016 – China Life Insurance Singapore launches the 2nd series of its guaranteed issuance 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 5-year endowment plans enable our customers to enjoy 100% capital guarantee and attractive guaranteed yields of 3.62% p.a. (RMB) or 2.25% p.a. (SGD) when the plans mature without worrying about market volatility. 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 5th most widely used currency for international payments and the 2nd in terms of global trade finance2." said Mr Tony Chow, Chief Executive of China Life Insurance Singapore.

*The guaranteed yields of 3.62% p.a. and 2.25% p.a. apply only upon maturity of the China Life SaveReward 101 Series II (RMB) and (SGD) Plans respectively. These are limited tranche products and we will stop accepting applications 6 months after the product launch date or when the tranche is fully subscribed, whichever is earlier.

1. In the event of death of the life insured, we will pay 101% of the total premiums due and paid, less amounts owing to us (if any).

2. Swift: RMB strengthens its position as the second most used currency for documentary credit transactions, 26 Feb 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. It is also a Fortune Global 500 company, ranked 54 in 2016, for 14 consecutive years with brand value of over RMB 253 billion*.

China Life Overseas Company has been providing financial services in Hong Kong and Macau since 1984 and 1989 respectively. Its business covers 3 main categories, namely life insurance, investment as well as provident fund services. In 2015, its premium income exceeded HKD40 billion, with a breakthrough in agency force of over 3,300. 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 HKD170 billion as at December 2015. In January 2016, 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 2016.

 

Media Contact:

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