Generali Hong Kong today announced the launch of a new flagship product, Generali LionTycoon – a long-term participating savings and life plan that offers clients and their families wealth protections and growth opportunities, along with legacy planning.
A YouGov1 survey commissioned by Generali revealed that recent global events resulted in growing concerns over personal financial security and wealth protection, with half of the respondents aged 35-70 saying that the pandemic has made them more worried about not having enough flexible cash in times of need.
“Financial planning and security are always the key concern. Recent events like the global pandemic just intensified the concern and we believe it is important to offer a plan that empowers our customers to manage their wealth and provides wealth creation for long term financial planning. We are delighted to launch our flagship long-term participating savings and life plan with high projected return and various protections in Hong Kong,” said Rebecca Tan, Chief Distribution and Marketing Officer of Generali Life (Hong Kong) Limited.
The survey also found that 73% of respondents considered high returns in the long run is important when choosing a savings plan.
Rebecca added, “When designing Generali LionTycoon, we listened closely to our customers and business partners. We have conducted several focus groups and gained valuable insights that helps to shape our new product. LionTycoon is truly a product from the voice of partners and customers. LionTycoon offers a total internal rate of return up to 7.14%2 per annum, which is one of the highest in the market3.In addition, the plan also provides Terminal Dividend Lock-in Option to capture market upside, Benefit Accumulation Account to earn interest, flexible cash withdrawal and infinite wealth transfer options, reinforcing our dedication to helping customers reach their financial goals,”
Another key finding from the Generali survey was that over 70% of respondents considered an insurance company with a long-standing proven record as a key factor when purchasing an insurance plan.
“Established in 1831, Generali4 has recorded significant global and economic milestones throughout our almost 190 years of history, including insuring Italy’s first scientific satellite in 1964 and the country’s first astronaut in 1992. We have been consistently listed among the top 100 Fortune Global 500 Companies and recorded 630 billion Euros (HKD5.8 trillion) AUM (Assets Under Management) globally in year ending 2019.”
In Hong Kong, despite the economic volatility, Generali Hong Kong continues to record double-digit year-on-year growth and more significantly as at Aug 2020, a staggering 102% growth in its Retail Life business. This local result is consistent with Generali global performance and its long standing track record” said Cillin O’Flynn, Chief Executive Officer of Generali Life (Hong Kong) Limited.
Achieving financial goal with Generali LionTycoon
With the launch of Generali LionTycoon in Hong Kong, Generali aims to provide customers with unique plan for wealth accumulation, growth and legacy planning.
Generali LionTycoon offers 4 premium payment terms, 3, 5, 8, 10 years and with prepayment option under 3 years, with the following key features:
High projected return in the market
Flexible access to wealth
Interest accumulation in Benefit Accumulation Account
Option of legacy planning