New CTF Life plan enhances inheritance, wealth control

It offers the option to adjust their policy components for improved projected returns.

Chow Tai Fook Life Insurance (CTF Life) marked its upcoming 40th anniversary with the launch of the MyWealth Savings Insurance Plan 2, aimed at providing customers with faster and higher projected returns, greater flexibility in inheritance planning, and enhanced autonomy in managing their wealth.

The new plan is an enhanced version of its predecessor, MyWealth 1. It also includes the first-in-market “Wealth Booster Option,” allowing policyholders to adjust their policy components for improved projected returns. Additionally, it offers the “Wealth Accumulation Switching Options,” providing customers with more control over their investments at different life stages.

Also, MyWealth 2 introduces the "Dual Succession" feature, enabling policyholders to assign up to two beneficiaries and make unlimited changes to the insured, ensuring smoother wealth inheritance. 

Jarita Kwan, chief product officer at CTF Life, noted that the plan offers higher returns and shorter breakeven periods, particularly for policies in USD, along with enhanced flexibility in withdrawals, helping clients capitalise on market opportunities for wealth accumulation and legacy planning.