Chubb Life Hong Kong has enhanced its flagship Chubb MyLegacy Insurance Plan V by adding a three-year premium payment option to its Harvest plan, shortening its guaranteed breakeven period to six years.
The flagship product offers two distinct options, Blossom and Harvest, to meet varying financial objectives.
Blossom focuses on optimizing cross-generational wealth succession with medium to long-term returns, while Harvest prioritizes short to medium-term wealth accumulation with an early breakeven period.
Functioning as a simple trust with a minimum notional amount of US$10,000 (HK$78,373), the plan allows policyholders to change the insured person an unlimited number of times.
Customers can also designate up to five successor insureds and utilize a policy guardian feature to safeguard assets for minors until they reach a designated age.
Clients selecting the three-year premium payment term with a lump-sum prepayment will receive a guaranteed prepayment interest rate of 4 percent per annum.
Furthermore, policies with a notional amount of US$50,000 or more can achieve a guaranteed breakeven in five years.
Belinda Au, president of Chubb Life Hong Kong and head of North Asia, said the new three-year option offers one of the shortest guaranteed breakeven periods in Hong Kong.
Effie Zhang
