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AXA Hong Kong launches brand new guaranteed income plans to help build wealth -- Unlimited legacy pass on to benefit future generations

AXA Hong Kong launches brand new guaranteed income plans to help build wealth -- Unlimited legacy pass on to benefit future generations


  • AXA Hong Kong launches two brand new guaranteed income plans, Prime Harvest and Ever Harvest, helping customers to accumulate wealth for a brighter future through guaranteed income, while managing their savings flexibly to pass on their legacy to descendants
  • For the Prime Harvest, guaranteed cash coupons will be paid equivalent to 100% of the notional amount(1)  in the first 20 policy years and until the insured age of 100(2) to help customers accumulate wealth
  • First products with guaranteed income in Hong Kong to allow an unlimited(3) number of changes to the insured of  the policy, enabling customers to maximise the potential to receive guaranteed income and to pass on their legacy
  • Flexible option for the use of cash coupons and declared annual dividends -- cash out to realise life goals or accumulate with interest to build wealth

HONG KONG, Jan. 29, 2018 /PRNewswire/ -- AXA Hong Kong proudly launches two new guaranteed income plans -- Prime Harvest Income Plan ('Prime Harvest') and Ever Harvest Income Plan ('Ever Harvest'), which pay guaranteed cash coupons until the insured age of 100 to help customers to accumulate wealth and realise various life goals for themselves and their family. The new plans are the first products with guaranteed income in Hong Kong that allow policy holders to change the insured of the policy an unlimited number of times and to pass on the legacy to their descendants.

'AXA Hong Kong understands customers' need to plan in advance in order to cope with evolving financial needs at different life stages, ranging from preparing for their children's education, planning for retirement or passing on wealth to future generations. In response to increasing demand for building a legacy, AXA Hong Kong launches the brand new Prime Harvest and Ever Harvest to support customers in building a future with stable wealth. Through a 5-year or 10-year premium payment term, the new plans not only provide customers with guaranteed cash coupons but also life protection, showcasing our vision of being a trusted partner to our customers, empowering them to live a better life.' Kevin Chor, Chief Life Product & Proposition Officer, AXA Hong Kong.

Highlights of the Prime Harvest and Ever Harvest include:

  • Provide guaranteed cash coupons
    • Prime Harvest -- The plan will pay guaranteed cash coupons on the first 20 policy anniversaries equivalent to 100% of the notional amount. An annual cash coupon of 2% of the notional amount on every policy anniversary will be paid thereafter until age 100;
    • Ever Harvest -- Starting from the 3rd or 5th policy anniversary(4), the plan will pay an annual cash coupon of 3% of the notional amount on every policy anniversary until age 100. An extra cash coupon will also be paid on specific policy anniversaries to further boost wealth accumulation;
  • Allow change of the insured of the policy an unlimited number of times -- Customers can change the insured of the policy after a specific policy anniversary(5), maximising the potential to receive guaranteed cash coupons and potential dividends. The accumulated wealth and legacy can be passed on for future generations;
  • Flexibly access and manage your savings -- Increase growth potential of returns. Depending on their needs, customers can choose to leave the cash coupons and declared annual dividends(6) to accumulate with interest. To cope with financial needs at different life stages, customers can also withdraw them from the policy;
  • Hassle-free application process -- Maximum total premiums up to USD3,000,000, with no medical examination required or health questions to answer;
  • Short premium payment term -- Offers options for 5-year or 10-year premium payment terms for life protection until age 100.

For more information on the Prime Harvest, please visit: https://www.axa.com.hk/en/prime-harvest-income-plan

For more information on the Ever Harvest, please visit: https://www.axa.com.hk/en/ever-harvest-income-plan

Remarks:

  1. Assume no change of the notional amount of the policy. The notional amount is used for the calculation of premium, guaranteed cash coupons and relevant policy values of Prime Harvest and Ever Harvest; it is not equivalent to the death benefit of the insured and is only one of the factors in determining the death benefit payable.
  2. 'Age 100' refers to the policy anniversary on or immediately following the initial insured's 100th birthday.
  3. During the lifetime of the insured, the policy should remain inforce, and subject to the Company's prevailing administrative rules.  The change of insured option is subject to the relevant terms, conditions and eligibility requirements.
  4. Subject to the chosen premium payment term.
  5. Refers to the 15th policy anniversary.
  6. Annual dividends and terminal dividend are not guaranteed and may be changed by AXA Hong Kong from time to time.

The above information is for reference only. For details of the product features, content, terms, conditions and exclusions, please refer to the relevant product brochures.

Kevin Chor, Chief Life Product & Proposition Officer, AXA Hong Kong said, in response to increasing demand for building a legacy, AXA Hong Kong launches the brand new Prime Harvest and Ever Harvest to support customers in building a future with stable wealth.
Kevin Chor, Chief Life Product & Proposition Officer, AXA Hong Kong said, in response to increasing demand for building a legacy, AXA Hong Kong launches the brand new Prime Harvest and Ever Harvest to support customers in building a future with stable wealth.

ABOUT AXA HONG KONG

AXA Hong Kong, a member of the AXA Group, prides itself of serving over 1 million customers1 in Hong Kong and Macau. Besides being one of the largest health protection providers in Hong Kong, it is also the number 1 General Insurance provider2 and a market leader in motor insurance.

AXA Hong Kong is committed to the on-going development and enhancement of our life & savings, health, property & casualty, wealth management and retirement solutions in order to satisfy the different needs of our individual and corporate customers.

We believe it is our inherent responsibility to support the communities we operate in, hence creating a sustainable business via constant and considerable contribution in the dimensions of health, environment and the community.

1 Including customers of AXA China Region Insurance Company Limited, AXA China Region Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability), and AXA General Insurance Hong Kong Limited
2 Based on 2016 Insurance Authority market share statistics represented by overall gross premiums

ABOUT THE AXA GROUP

The AXA Group is a worldwide leader in insurance and asset management, with 165,000 employees serving 107 million clients in 64 countries. In 2016, IFRS revenues amounted to Euro 100.2 billion and IFRS underlying earnings to Euro 5.7 billion. AXA had Euro 1,429 billion in assets under management as of December 31, 2016.

The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA's American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.

The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.

It is a founding member of the UN Environment Programme's Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.

THIS PRESS RELEASE IS AVAILABLE ON AXA'S WEBSITE: AXA.COM.HK

FOR MORE INFORMATION:

AXA Hong Kong:


Alice Li:  

+852.3702.2566

Jaffa Lo: 

+852.3702.2571

Yuki Ng:

+852.3702.2572



Weber Shandwick:


Juliana Li: 

+852.2533.9973

Winky Chow:

+852.2533.9923

 

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 actual results and AXA's plans and objectives 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 Document de Référence (Annual Report) for the year ended December 31, 2016, 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.

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