FWD HK unveils new retirement plan for HKMC’s programme
This collaboration expands retirement solutions in the market.
FWD Hong Kong has introduced the Life Gala Insurance Plan, addressing the crucial need for comprehensive retirement planning.
The plan offers affordability and flexibility, aligning with the Policy Reverse Mortgage Programme (PRMP) of The Hong Kong Mortgage Corporation Limited (HKMC).
FWD said this collaboration expands retirement solutions, providing a stable cash flow through insurance policies converted into lifelong income.
- Life Celebration Booster Option: Allows policy owners to top up coverage for major life events without medical underwriting. Coverage can reach up to 200% of the initial sum insured. It also covers eight major life events, including marriage, childbirth, homeownership, and emigration.
- Advanced Death Benefit: In the event of a terminal illness diagnosis, the death benefit is paid in advance to assist the insured and their family.
- Unemployment Benefit: Offers relief for short-term financial pressure by extending the grace period in case of involuntary unemployment.
- Flexible Premium Payment Terms and Death Benefit Settlement Options: Allows payment flexibility, including single payment or premium terms of five, 10, or 20 years. Death benefit can be received as a lump sum, regular instalments, or a combination.
The plan caters to diverse life stages, with competitive premiums and comprehensive protection.
The collaboration with HKMC enhances retirement planning options, aligning with evolving expectations for retirement life.