Prudential Hong Kong launches Galaxy Lifelong Income Savings Plan to address market needs for shorter-term life and savings products

17/11/2009

(Hong Kong, 17 November 2009) In recognition of the changing needs of Hong Kong people for simplified financial products, The Prudential Assurance Company limited, Hong Kong Branch ("Prudential Hong Kong") has launched a new insurance savings plan offering guaranteed returns and shorter commitment periods.

The standard Galaxy Lifelong Income Savings Plan is available for 8- or 15-year premium commitment period, it offers guaranteed cash payments (equivalent to 15% of the sum assured every 5 years as long as the policy is in force) starting from the 5th policy anniversary, and cash dividends#1 which are declared annually from the 3rd policy anniversary onwards. The product also offers comprehensive protection of lifelong cover and optional accident and medical insurance.

Mr. Paul Bedell, Chief Marketing Officer of Prudential Hong Kong said, "Hong Kong people have told us they want straightforward products, shorter commitment periods and stronger returns. We have upgraded our popular Galaxy savings range to support these needs, and to provide our customers with a low cost foundation for their lifelong financial plan."

In addition, Prudential Hong Kong will also offer Galaxy lifelong Income Savings Plan with a three-year premium term for a limited time. "In terms of regular premium mode, we believe this is one of the shortest commitment life insurance products available in Hong Kong," said Mr. Bedell. "It will really help Hong Kong people bring their financial planning back on track following the recent difficult times."

The three-year premium term offer is available until 31 December 2009.

For more information on Prudential Hong Kong's latest sales initiatives, customers are welcome to call the Prudential Hong Kong hotline on 2281 1333 or visit http://www.prudential.com.hk

 

#1 Dividend rates can be changed from time to time by Prudential and therefore are not guaranteed. Prudential has the sole discretion on the determination of dividend rates and policyowners will only be eligible for dividends if all premiums due have been paid.

Special note to the editor:
Prudential Hong Kong's parent company, Prudential plc (英國保誠集團), was established in the United Kingdom in 1848 and is headquartered in London. With its affiliated companies in the UK, the US and Asia, it constitutes one of the world's leading financial services groups. 

Prudential plc is not affiliated or related in any manner with Prudential Financial, Inc. (保德信金融集團),a company whose principal place of business is in the United States.

You and your reporters are cordially reminded to clearly differentiate between the two companies in your news reporting. 

For enquiries, please contact:

Jenny Auw Yong

Marketing - Corporate Communications

The Prudential Assurance Company Limited

+852 2977 3722

+852 2977 1116

Kate Siu

Senior Officer - Corporate Communications

The Prudential Assurance Company Limited

+852 2977 8462

+852 2977 1209