Chubb Life Hong Kong wins Whole Life Product Category at the Benchmark Wealth Management Awards 2021
The winning product, Chubb MyLegacy Insurance Plan (Chubb MyLegacy), is a savings insurance plan that provides long-term financial growth combined with flexibility in choosing how to design the plan, to help people at different stages of life with wealth accumulation and legacy planning. With this plan, Chubb Life introduced a first-in-market1 feature that allows the policyholder to convert their Partial Surrender Value to another insured person in a Split Policy and they can do this for a unlimited number of times. This is in addition to the unlimited flexibility to change the insured person in the plan and assign a new insured person to help with legacy planning if the insured person passes away.
"Our jurors found Chubb Life's Whole Life product attractive, especially with a breakeven period of eight years2. Chubb also has a good governance structure in place, which is critical in providing long-term products", says organizer, Elsa Pau, Group CEO of WealthAsia Media.
Kean Hah, Chief Financial Officer of Chubb Life Hong Kong says, "We are extremely proud to be the winner of this award. This is a great testament to our commitment to meet our customers' evolving needs to build wealth and make legacy planning with solutions that offer great flexibility and value in the long-term. We would like to thank all our customers for placing their trust in Chubb Life and our agents, partners and brokers who made this award happen."
Further product information can be found at: https://www.chubb.com/hk-en/personal/chubb-mylegacy-insurance-plan.html
1. Based on available market information as of 31 December 2020.
2. The number of years to reach breakeven point is for reference only and it is subject to the amount of premium, premium payment mode, as well as the actual amounts of non-guaranteed benefits which are determined by us from time to time.
About Chubb Life Hong Kong
Chubb Life is the international life insurance division of Chubb. In Asia, Chubb Life operates in Hong Kong SAR, Indonesia, Korea, Myanmar, Taiwan, Thailand and Vietnam, and participates in a joint-venture in China. Chubb Life has been in Hong Kong since 1976. To meet the financial protection and wealth management needs of its broad range of customers, Chubb Life Hong Kong (Chubb Life Insurance Company Ltd.) offers a range of life protection, savings, accident and health insurance solutions through agents and brokers. Additional information can be found at: http://life.chubb.com/hk
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.chubb.com
About the Awards
The 12th Annual Benchmark assesses insurance companies by highly qualified industry veterans across six pillars: Value for Money, Client Support, Digital, Brand Strength, Governance, and Sustainability. In conjunction with BlueOnion, Benchmark's sister company in ESG data aggregation and analysis, Benchmark undertakes a mission to expose Green, Blue, SDG, and Sustainability washing. Insurers who have scored the highest over 22 Environment, Social, Governance, and Climate KPIs are recognized for their contribution this year.
The issuer is solely responsible for the content of this announcement.