As much as 20% premium refund upon profitable utility
HONG KONG & MACAU – Media OutReach – 10 January 2022 – AXA Hong Kong and Macau (AXA) at this time introduced the launch of “FortuneXtra Financial savings Plan (“FortuneXtra”) to assist clients seize foreign money potentials and speed up wealth constructing with distinctive flexibility to swimsuit altering tendencies and desires.
Kevin Chor, Chief Life and Well being Insurance coverage Officer, AXA Hong Kong and Macau, mentioned, “In September 2021, Hong Kong recorded a 6-year report excessive for non-US Greenback international foreign money deposits, equal to over HKD 2 trillions. Specifically, RMB buyer deposits elevated by greater than 25% YoY1. We noticed an enormous market demand for foreign currency which is subsequently validated by the survey2 collectively carried out by AXA and an impartial analysis company in November 2021.
70% of the respondents at present possess international foreign money financial savings or funding, amongst which, insurance coverage merchandise come because the third most typical funding car after financial institution deposits and shares. By way of favoured currencies, Euro is one among their high decisions apart from USD and RMB. Many individuals are in search of versatile saving autos with good returns to assist them fulfil their altering wants in several life phases, equivalent to wealth accumulation, preparation for an training fund, legacy planning, abroad property investments and retirement planning. These survey findings impressed us to launch FortuneXtra which supplies distinctive potential return and unmatched flexibility to fulfill the market wants, underscoring AXA’s dedication to be a life-long companion to our clients.”
4 notable options of FortuneXtra embody:
1) Assembly world citizen life-style and maximising wealth accumulation benefit with market-highest coverage foreign money choices3, together with market-unique Euro
FortuneXtra supplies a selection of as much as 9 coverage foreign money choices, providing probably the most choices out there3, together with Renminbi (RMB), United States Greenback (USD), British Pound (GBP), Euro (EUR), Canadian Greenback (CAD), Australian Greenback (AUD), Singapore Greenback (SGD), Hong Kong Greenback (HKD) and Macau Pataca (MOP; just for insurance policies issued in Macau), every providing aggressive potential return. Among the many currencies, Euro is uniquely obtainable in FortuneXtra3, promptly responding to the rising market wants.
2) Distinctive flexibility to fulfill altering wants with free foreign money conversion in entire or partly
FortuneXtra (each 5-year pay and 10-year pay) presents limitless variety of instances4 of full or partial coverage foreign money conversion free of charge from the threerd coverage anniversary. Whether or not as a result of adjustments in life plan or shifts in world market alternatives, our clients can convert their coverage to one among a special coverage foreign money, in entire or partly, whereas preserving the identical coverage graduation date to make sure their wealth accumulation stays on observe after the conversion. Specifically, partial conversion is exclusive in market3 and might help clients flexibly cope with completely different international foreign money wants on the similar time.
3) Market-first3 twin foreign money accounts to seize good points and accumulate curiosity
Not like standard financial savings insurance policy, FortuneXtra presents the chance to avoid wasting in as much as two currencies beneath the identical coverage. Ranging from the tenth coverage anniversary, clients can flexibly lock the coverage worth to seize market upside, turning non-guaranteed values into assured. After that, twin foreign money accounts enable clients to earn aggressive pursuits in coverage foreign money or one of many different 8 obtainable currencies as chosen and make versatile withdrawals any time as they need.
4) Develop generations of wealth and move on legacy with change of the insured a vast variety of instances and international foreign money wants catered
Whereas FortuneXtra is extraordinarily versatile, it’s also nice for legacy planning. Prospects can change the insured of the coverage for a vast variety of instances, enabling them to share their legacy with the generations to come back. What’s extra, inheritance answer coupled with the foreign money conversion functionality can absolutely cater for the foreign money wants of the subsequent generations and additional improve the flexibleness of legacy planning.
From now till 9 February 2022, clients can take pleasure in as much as 20% premium refund in the event that they efficiently apply for FortuneXtra.
For extra info on FortuneXtra, please go to https://www.axa.com.hk/en/fortune-xtra-savings-plan.
The above info is for reference solely. For particulars on premium refund and product options, content material, phrases and exclusions, please seek advice from the product brochure, coverage provision and promotional leaflet.
[1] Supply: HKMA Month-to-month Statistical Bulletin (Sep 2021)
[2] The survey was carried out in Hong Kong in November 2021, with a complete of 1,017 respondents who’re aged 18 or above. Figures are weighed in relation to on-line inhabitants in Hong Kong.
[3] That is primarily based on a comparability amongst taking part financial savings plans with reversionary bonus obtainable for brand new enterprise supplied by insurers that are lined within the Provisional Statistics on Hong Kong Lengthy Time period Insurance coverage Enterprise for January to June 2021 (in respect of life & annuity (non-linked (Class A)) particular person enterprise (direct new enterprise)) printed by the Insurance coverage Authority. The comparability was made close to the data on the corporate web site of the related insurers and different info obtainable to AXA as of November 2021.
[4] Ranging from the third coverage anniversary, one utility for conversion might be made inside one Coverage Yr; and utility should be submitted inside 30 days from every Coverage Anniversary.
About AXA Hong Kong and Macau
AXA Hong Kong and Macau is a member of the AXA Group, a number one world insurer with presence in 54 markets and serving 105 million clients worldwide. Our goal is to behave for human progress by defending what issues.
As some of the diversified insurers providing built-in options throughout Life, Well being and Normal Insurance coverage, our purpose is to be the insurance coverage and holistic wellness companion to the people, companies and neighborhood we serve.
On the core of our service dedication is steady product innovation and buyer expertise enrichment, which is achieved by way of actively listening to our clients and leveraging know-how and digital transformation.
We embrace our duty to be a pressure for good to create shared worth for our neighborhood. We’re proud to be the primary insurer in Hong Kong and Macau to deal with the essential want of psychological well being by way of completely different merchandise and providers. For instance, the Thoughts Charger operate on our holistic wellness platform “AXA BetterMe”, which is on the market through our cellular app Emma by AXA, is open to not simply our clients, however the neighborhood at massive. We’ll proceed to foster social progress by way of our product choices and neighborhood funding to help the sustainable growth of Hong Kong and Macau.
THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE: 
AXA.COM.HK
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Sure statements contained herein could also be forward-looking statements together with, however not restricted to, statements which might be predictions of or point out future occasions, tendencies, plans or targets. Undue reliance shouldn’t be positioned on such statements as a result of, by their nature, they’re topic to identified and unknown dangers and uncertainties and might be affected by different elements that might trigger AXA’s precise outcomes to vary materially from these expressed or implied within the forward-looking statements. Please seek advice from Half 4 – “Threat elements and threat administration” of AXA’s Common Registration Doc for the 12 months ended December 31, 2019, for an outline of sure essential elements, dangers and uncertainties which will have an effect on AXA’s enterprise, and/or outcomes of operations. AXA undertakes no obligation to publicly replace or revise any of those forward-looking statements, whether or not to mirror new info, future occasions or circumstances or in any other case, besides as a part of relevant regulatory or authorized obligations.
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