OREANDA-NEWS. February 24, 2011. The Bank of East Asia (“BEA”) announces that its wholly-owned subsidiary, BEA Life Limited (“BEA Life”), has launched a new series of its popular Renminbi (“RMB”) insurance plan, SmartSaver RMB Insurance (2011 – I) (the “Plan”), reported the press-centre of BEA.

The Plan enables customers to take advantage of potential RMB appreciation, and enjoy a higher guaranteed annual return than offered by the first and second series.

Key benefits of the Plan include an increased guaranteed annual return of 2% upon policy maturity, a short premium payment period of just three years, and life protection for six years with guaranteed protection of up to 105% of the total premium paid. The application process is simple and easy, and does not require a medical examination (up to an annual premium of RMB4,000,000 per insured person).

Mr. Patrick Wan, Managing Director of BEA Life says, “Since further expansion of the RMB services last July, there has been strong market demand for RMB products and services including RMB insurance plans. SmartSaver RMB Insurance (2011 – I) provides a higher guaranteed annual return of 2% and guaranteed life protection of up to 105% of the total premium paid. As one of the most competitive RMB products of its kind in the market, SmartSaver RMB Insurance (2011 – I) enables customers to enjoy life protection and a wide range of financial benefits at the same time.”

While the Plan is denominated in RMB, customers may settle payment in RMB and/or Hong Kong dollars1, with a minimum annual premium of RMB35,000.

Furthermore, there is a grace period of up to 365 days to settle premium payments in the event of the involuntary unemployment of the policyowner2. Persons aged 65 or below are eligible to apply.

Applications for the Plan3 will be accepted from now until 19th March, 2011. As a special launch promotion, customers who successfully enrol in the Plan and settle the specified premium amount will receive supermarket cash coupons worth up to HK\\$500. In addition, if the first-year annualised premium amounts to RMB50,000 or above, customers will receive a 24K gold-plated figurine.

For more information on the Plan, please call the BEA Insurance Services Hotline on (852) 3608 2928, or visit any BEA branch.