ZA Bank has rolled out another short-term savings insurance plan, featuring a guaranteed return of 5.25% p.a.1 at maturity, the highest rate ever since the launch of the ‘ZA Savings Insurance’ series. The plan seeks to help users earn stable and high-interest returns within a short period of time in the new year.
‘ZA Savings Insurance 4’ 2 is denominated in Hong Kong dollars with an 18-month locked-in period, offering guaranteed returns of 4.8% p.a. 3 at maturity. With as little as HKD 10,000, users can start moving towards their savings goal and enjoy basic life protection. The plan also provides a lump-sum death benefit in the unfortunate event of death of the insured while the policy is in force4. Starting from today, users can get protected through the ZA Bank App in as fast as 3 minutes5.
During the promotion period, users can also enjoy a limited-time premium discount of 0.65%, which translates into a net guaranteed return of 5.25% p.a.1 at maturity. ‘ZA Savings Insurance 4’ is subject to limited quota on a first-come-first-served basis. The maximum premium for each insured person and policy is capped at HKD 500,0006. Please refer to the product brochure and policy provisions for details about the plan.
Notes to editors:
- ‘Guaranteed maturity return 5.25% p.a.’, which is equivalent to 107.9% of the total premium paid, refers to the return at the end of the 18-month benefit term (maturity), assuming no surrender has been made. The relevant return rates and amounts mentioned above are calculated based on the case with the 0.65% premium discount (if applicable).
- ‘ZA Savings Insurance 4’ is a life insurance plan with a savings element underwritten by ZA Life Limited (‘ZA Insure’). It is not a bank deposit or bank savings plan. Policyholders are subject to ZA Insure’s credit risk. Please refer to the product brochure and policy provisions for the product features and detailed terms and conditions.
- ‘Guaranteed maturity returns 4.80% p.a.’ refers to the return at the end of the 18-month benefit term (maturity), assuming no surrender has been made.
- The death benefit is equivalent to 105% of the total premiums paid.
- The actual time for policy application may differ depending on individual circumstances. In general, provided that all required information is in order, a user can finish the application process within 3 minutes.
- Meanwhile, each insured person is subject to a maximum aggregated premium of HKD 800,000 across all in-force ZA Savings Insurance products (i.e. ZA Savings Insurance, ZA Savings Insurance 2, ZA Savings Insurance 3, ZA Savings Insurance 4).