News Releases

Hong Kong, November 2, 2015 — ACE Life, the global life insurance division of ACE Group, today announced the launch of ACE Gold Wealth Insurance Plan^TM in Hong Kong. The new product embodies ACE Life’s commitment to helping customers achieve different financial and life goals with flexible premium payment periods.

In response to increasing demand for competitive long-term returns given the low interest rates in Hong Kong, the new plan is particularly suitable for customers who do not have the time to manage their investments, but look for an essential yet dynamic financial plan that they can keep for life or may withdraw their money to fulfill unexpected needs.

ACE Gold Wealth Insurance Plan^TM is a whole life protection plan with competitive potential returns comprising of non-guaranteed Reversionary Bonus^#1 and non-guaranteed Special Bonus^#2 in addition to guaranteed cash value. This new plan offers four premium payment period options of either 3 or 8 or 12 or 18 years for life coverage up to the age of 100.   

On top of the lifelong protection, customers have the flexibility to accumulate the Reversionary Bonus to the policy to increase the policy value or to withdraw the cash value of the accumulated Reversionary Bonus and the corresponding cash value of Special Bonus at different life stages to fulfill any unexpected financial needs.

Ms. Diana Kwan, Chief Partnership & Marketing Officer of ACE Life in Hong Kong, said: “We understand that customers’ protection and financial needs change as they go through different life stages, so we have designed this insurance plan to provide both whole life protection and savings over the long term at an affordable premium. The Plan offers the flexibility in terms of the premium payment period and cash value withdrawal, for easier financial planning. In addition, the application process is easy with no medical examination required in general.”

And from now until 30 November 2015, customers who successfully apply for ACE Gold Wealth Insurance Plan^TM can enjoy up to one month premium waiver offer.    

ACE Gold Wealth Insurance Plan^TM Product Highlights:

• Achieve savings and protection goals in one plan with life protection up to age 100 and high potential returns. In the unfortunate event of the insured’s death, the death benefit shall be equal to the higher of:
  • Guaranteed cash value of the basic plan, plus the face value of the accumulated Reversionary Bonus (if any) and the face value of the Special Bonus (if any); or
  • 101% of the total basic premiums paid deducting any withdrawal of cash value of bonuses.
• Competitive long-term potential returns with non-guaranteed Reversionary Bonus and non-guaranteed Special Bonus:
  • ^#1 Reversionary Bonus: Starting from the 3^rd policy anniversary, a Reversionary Bonus will be payable on each policy anniversary. The face value of the Reversionary Bonus will be accumulated during the policy term and allows the policy value to grow with time. If it is declared by the company, once credited to the policy, its face value is guaranteed and payable upon the death of the insured. The cash value of the accumulated Reversionary Bonus will be payable upon cash withdrawal, surrender or maturity of the policy.
  • ^#2 Special Bonus: An additional one-off bonus which is available starting from designated policy anniversary. The face value of the Special Bonus is payable upon the death of the insured, while the cash value of the Special Bonus is payable upon cash withdrawal, surrender or maturity of the policy. Both face value and cash value of Special Bonus shall be determined by the company from time to time.
• Flexible premium payment period of either 3 or 8 or 12 or 18 years for selection, which allows customers to match premium payments to their individual financial requirements. The premium is guaranteed and remains unchanged during the selected premium payment period, which enables easier financial planning.

Product information, including the benefits, terms and conditions of ACE Gold Wealth Insurance Plan^TM, are included in the product fact sheet and policy document. For details of the premium waiver offer, please refer to the relevant promotional leaflet.

About ACE Life in Hong Kong

ACE Life is the global life insurance division of ACE Group, one of the world’s largest multiline property and casualty insurers.  With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. ACE's core operating insurance companies are rated AA for financial strength by Standard & Poor’s and A++ by A.M. Best.

With both general and life insurance operations, ACE has been present in Hong Kong for more than 90 years, via acquisitions by its predecessor companies.  Specifically to meet the needs of financial protection and security of its broad range of customers, ACE Life in Hong Kong (ACE Life Insurance Company Ltd.) offers a comprehensive array of quality life and medical insurance products and services.

More information can be found at www.acelife.com.hk.

Contact

ACE Life
Bonny Ching : +852 2837 7095; bonny.ching@acegroup.com