HONG KONG, Aug. 12, 2024 /PRNewswire/ -- The pace of economic recovery after the pandemic varies across regions, amidst inflation and market expectations of an interest rates cut cycle. Against such backdrop, Zurich Insurance (Hong Kong) ("Zurich") has introduced award-winning universal life insurance and investment linked assurance products, supported by personalized services and online platforms, helping customers plan for their future with confidence in uncertain market conditions.
With its innovative life insurance products and flexible wealth management concepts, Zurich has been awarded the prestigious "Life & Wealth Management Insurance - Excellence Performance" in the Bloomberg Businessweek Financial Institutions Awards for three consecutive years. This year, Zurich once again emerged as the winner of the award with its Swiss Fortune Universal Life Plan ("Swiss Fortune"). Geoffrey Au, CEO of Life Insurance, Zurich Insurance (Hong Kong), said, "We understand customers' growing demand for flexible savings insurance plans. Swiss Fortune benefits from the flexibility of traditional universal life products and incorporates effective risk management investment strategies, effectively catering to the diverse needs of our customers for wealth appreciation and succession planning. Winning this award once again serves as a testament to Zurich's brand excellence, cultivated over a rich history spanning over 150 years, and the exceptional qualities that set Swiss Fortune apart."
In today's developed markets like the United States, universal life insurance has taken over traditional life insurance to become a preferred option1. Meanwhile, Asian customers value succession planning for transferring wealth to next generations. Swiss Fortune grasps this opportunity by featuring wealth inheritance options and offering flexible contributions, monthly crediting interest and loyalty bonuses2, designed to meet the evolving financial needs of customers. As the investment market changes rapidly and is difficult to predict, Swiss Fortune helps customers seize investment opportunities in the market and achieve long-term financial goals, such as retirement and education fund. It does so by providing customers with the upside return potential of equity market, whilst limiting the downside risk from traditional equity investment.
Prudent spending for better future planning
Hong Kong people are becoming more cautious with their finances, making it an opportune moment to reevaluate their current financial status and devise longer-term plans to safeguard themselves and their families. Investment-linked assurance scheme (ILAS) can meet both insurance and investment needs, while offering a one-stop account to manage multiple investment options with a clear fee structure and life insurance, making it one of the suitable tools for investment and financial planning. As an expert in ILAS products, Zurich has won the "Award for Excellence in Investment-linked Assurance Scheme" three times in a roll from Ming Pao Awards for Excellence in Finance 2024. Zurich's ILAS products have also been accepted as one of the "Permissible Financial Assets" under the "New Capital Investment Entrant Scheme" (New CIES), and rank market first3 with the number of ESG investment choices available in Hong Kong. These distinctive features have solidified Zurich's ILAS products as the favored option among a broad spectrum of local and international customers.
To facilitate visitors to Hong Kong to understand Zurich's prestigious brand and life insurance products, the "Zurich Premier Wealth Center" located in Tsim Sha Tsui shopping district offers a comfortable and private environment for customers to engage in financial analysis with financial planners, complete insurance application procedures and make premium payments. The "Zurich Premier Wealth Center", conveniently accessible by transportation, offers a panoramic view of Victoria Harbour and has welcomed numerous customers from Asia and the Greater Bay Area since its establishment last year.
| 1 Source: LIMRA International Inc. - 2023 Marks Third Consecutive Year of Record Sales for U.S. Individual Life Insurance (Published in Feb 2024). |
| 2 Crediting interest and loyalty bonuses are not guaranteed and may even be zero. |
| 3 As of July 2024. |
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Zurich Life Insurance (Hong Kong) Limited ("Zurich Insurance") has based this material on information obtained from sources it believes to be reliable, but it does not warrant the correctness, adequacy and completeness of the information contained herein.
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