MassMutual Asia Launches Infinity SaverInnovative savings plan combines advantages of wealth accumulation,lifetime annuity and wealth legacy
January 21, 2019 Hong Kong
MassMutual Asia Limited (MassMutual Asia) has launched Infinity Saver, the latest addition to its range of annuity offerings, providing customers with a diversified choice of annuity plans. Combining multiple benefits to answer customers’ needs in terms of wealth accumulation, retirement planning and legacy creation, Infinity Saver is a wealth-management platform through which customers can realize their life goals with ease.
Mr Victor Yip, Chief Operating Officer and Chief Actuary of MassMutual Asia, said, “Achieving financial security is the goal of most people, and whether your financial goal is setting up your own business, giving your children a quality education, retiring comfortably, or passing on your legacy to future generations, everything starts with planning ahead to allow your wealth to accumulate over time. Taking into account that customers’ needs for wealth management will evolve over different life stages, Infinity Saver provides a Guaranteed Cash Value of up to 350% of total annual premiums paid, coupled with a competitive Terminal Bonus1 for potentially higher returns. The plan also features flexibility in wealth allocation, offering a total of 11 lifetime annuity options. Customers may convert all of the accumulated Cash Value of the policy into a lifetime annuity, ensuring a stable income after retirement; alternatively, they may opt to convert some of the accumulated Cash Value into an annuity and allow the remainder to accumulate and grow exponentially. Continuous wealth accumulation down through the generations is made possible as transfer of policy ownership to a new Policy Owner/new Insured is allowed, and there is no limitation on the number of such transfers. Also, the Policy Owner/the Insured can be automatically changed to a designated beneficiary in the unfortunate event of the death of the Insured with prior instruction, so that the accumulated cash value in the policy can be transferred to their loved ones.”
Infinity Saver offers a short premium payment term of five or ten years, plus peace-of-mind protections, including the “Accident Waiver of Premium Benefit” and “Death Benefit”2 that guarantees refund of capital.”
Ms Jeanne Sau, Chief Marketing Officer of MassMutual Asia, added: “Infinity Saver widens our range of annuity offerings by providing our customers with an additional alternative. A more proactive asset allocation strategy is adopted to bring potentially higher returns, but the overall risk is lower than that of equity investment, thus saving our customers time and effort in having to continuously manage their investment for wealth accumulation. Combining flexibility in exercising a lifetime annuity option, with the unique advantage of sharing wealth across future generations, Infinity Saver provides an ideal solution for wealth accumulation for individuals and their future generations over the medium-to-long term. Essentially, the plan is designed to cater for those who are concerned about growing their wealth, planning ahead for retirement, and passing on their legacy to future generations.”
MassMutual Asia is dedicated to developing innovative insurance solutions and was the first to introduce lifetime annuity products into the market. Its current annuity product offering covers both deferred and immediate annuity plans. Differentiating itself from the rest of the market, where most annuity products are distributed over a fixed-term, MassMutual Asia offers genuine annuity products with guaranteed lifetime annuity payouts. To meet the diversified retirement needs of different customers, its deferred annuity plans offer a broad range of 11 annuity options, the most to be found on the market. With these competitive advantages, MassMutual Asia has received numerous industry accolades, including “Excellence Performance” in the category of “Insurance - Annuity Plan” for three consecutive years in the Bloomberg Businessweek Financial Institution Awards, and the “Best Annuity Product” in the iMONEY Insurance Excellence Awards 2018.
To complement the launch of Infinity Saver, from now until March 29, upon successful application for the plan, each Insured will receive a first-year premium discount of up to 8.5% plus a 3.2% p.a. interest rate on future premium deposits.
MassMutual Asia is a member of publicly listed Yunfeng Financial Group Limited, whose major shareholders include Yunfeng Financial Holdings Limited and MassMutual International LLC. Yunfeng Financial Holdings Limited is a company owned by Mr. Jack Ma (Yun) and Mr. David Yu (Feng). Leveraging our robust financial background and solid reliability, we are committed to creating a brighter future for our customers by providing professional and tech-based one-stop risk- and wealth-management consulting services. MassMutual Asia also operates several subsidiaries, including MassMutual Trustees Ltd., which focuses on the MPF business; and MassMutual Insurance Consultants Ltd., which handles general insurance business.
Notes:
1. “Terminal Bonus” is not guaranteed.
2. The Death Benefit is applicable when the policy remains in force and before an annuity option is exercised with the full Cash Value. The Death Benefit shall not include the Annual Premium of Basic Plan that had been reduced (i.e., partial surrender).
MassMutual Asia’s Chief Marketing Officer, Ms Jeanne Sau, and Chief Operating Officer & Chief Actuary, Mr Victor Yip, announce the launch of ‘Infinity Saver’