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Press Release
2019-07-25

GENERALI HONG KONG LAUNCHES LIONPROMISE A PROMISING ANNUITY PLAN WITH STRONG PROTECTION FOR RETIREMENT, FAMILY AND NEXT GENERATIONS

Prudent planning, when paired with an appropriate saving and protection plan, can provide an extra layer of protection for our retirement life. Generali Life (Hong Kong) Limited (“Generali Hong Kong”) announces the launch of LionPromise, its first annuity plan in Hong Kong carefully tailored to suit the needs of most people entering retirement stage.


Highest Death Benefit and Guaranteed Maturity Bonus amongst annuity plans in Hong Kong


LionPromise can help hedge against the risk of market volatility. To help LionPromise customers maintain the quality of life at retirement while still ensuring family protection, the Death Benefit amount will never be reduced in the unfortunate event of death of the Insured even if LionPromise has already started paying the Guaranteed Monthly Annuity Payment, and guaranteed to be not less than 140% of the Total Premium Paid. This feature is the first in Hong Kong among all annuity products. Upon Policy maturity, even if you have already received all Guaranteed Annuity Payment Amount, LionPromise will still provide the Guaranteed Maturity Bonus, which equals to 140% of the Total Premium Paid. The Death Benefit and Guaranteed Maturity Bonus are currently the highest among all annuity plans in Hong Kong.


LionPromise is also considerate to customers’ future generations; customers can exercise the Legacy Planning Option, and transfer their wealth and protection from generation to generation for an unlimited number of times, thereby growing their wealth indefinitely.


More than just a savings product, LionPromise takes care of the Insured and the family

Cillin O’Flynn, Chief Executive Officer of Generali Hong Kong, said: “In view of the various needs when planning for retirement, Generali Hong Kong launches the company's first annuity plan - LionPromise, offering a comprehensive and balanced savings tool with strong protection. Not only can the Annuity Period Start Age be personalized, LionPromise also offers the option for wealth transfer, enabling customers to pass on all the wealth and protection to future generations. Most of the annuities in the market are concentrated on the savings, LionPromise provides the Insured with additional Elderly Illness Benefit and Waiver of Premium Benefit, providing sufficient financial support to the Insured. We hope this moderate savings product will encourage people to plan ahead for their retirement, to increase their wealth and diversity of wealth management portfolio.”


LionPromise offers 5 promises:

Give customers flexibility in designing their own retirement plan

  • Customers can personalize their annuity period start age to allow better planning for their future journey.


Secure customers’ retirement life

  • A stable stream of Guaranteed Monthly Annuity Payment will be paid during customers’ designated annuity period. Sufficient financial support will also be provided upon death or elderly illnesses diagnosis. Elderly Illnesses Benefit allows customers to receive the most appropriate protection during retirement years where there is a greater need for medical services.


Let customers pass on the Policy through generations

  • Customers can transfer their wealth and protection from generation to generation for an unlimited number of times, and the Legacy Planning Option and the Policy value will not be affected.


Provide strong protection

  • Even if the Guaranteed Monthly Annuity Payment has already started, the Death Benefit amount will never be reduced in the unfortunate event of death of the insured. This feature is the first in Hong Kong among all annuity products. The elderly illness protection can also ease retirees’ concerns about insufficient medical coverage when they need it the most.


Provide a simplified application process

  • Customers just have to answer a simple question, no medical examination is required.


Confident in sales, more innovative products to come shortly

Cillin O’Flynn added: “As the public awareness of retirement planning gradually increases, more and more customers are becoming interested in annuity products. We are confident in the sales of LionPromise and believe the product can bring us new customers with a wider profile. Innovation is the cornerstone of our business strategy, and we are committed to providing comprehensive and diversified insurance products to meet the actual needs of different customers. We will continually launch innovative insurance products to further expand our business in Hong Kong.”


About Generali Group

Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in 50 countries in the world, with a total premium income of more than €66 billion in 2018. With nearly 71,000 employees serving 61 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. Generali’s ambition is to be the life-time partner to its customers, offering innovative and personalized solutions thanks to an unmatched distribution network