As much as 20% premium refund upon profitable utility
HONG KONG & MACAU – Media OutReach – 10 January 2022 – AXA Hong Kong and Macau (AXA) immediately introduced the launch of “FortuneXtra Financial savings Plan (“FortuneXtra”) to assist clients seize forex potentials and speed up wealth constructing with distinctive flexibility to go well with altering tendencies and desires.
Kevin Chor, Chief Life and Well being Insurance coverage Officer, AXA Hong Kong and Macau, stated, “In September 2021, Hong Kong recorded a 6-year report excessive for non-US Greenback overseas forex deposits, equal to over HKD 2 trillions. Specifically, RMB buyer deposits elevated by greater than 25% YoY1. We noticed an enormous market demand for foreign exchange which is subsequently validated by the survey2 collectively carried out by AXA and an unbiased analysis company in November 2021.
70% of the respondents presently possess overseas forex financial savings or funding, amongst which, insurance coverage merchandise come because the third most typical funding car after financial institution deposits and shares. When it comes to favoured currencies, Euro is certainly one of their high selections aside from USD and RMB. Many individuals are on the lookout for versatile saving autos with good returns to assist them fulfil their altering wants in numerous life levels, corresponding to wealth accumulation, preparation for an schooling fund, legacy planning, abroad property investments and retirement planning. These survey findings impressed us to launch FortuneXtra which supplies distinctive potential return and unmatched flexibility to fulfill the market wants, underscoring AXA’s dedication to be a life-long associate to our clients.”
4 notable options of FortuneXtra embody:
1) Assembly international citizen way of life and maximising wealth accumulation benefit with market-highest coverage forex choices3, together with market-unique Euro
FortuneXtra supplies a selection of as much as 9 coverage forex choices, providing probably the most choices out there3, including Renminbi (RMB), United States Dollar (USD), British Pound (GBP), Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD), Singapore Dollar (SGD), Hong Kong Dollar (HKD) and Macau Pataca (MOP; only for policies issued in Macau), each offering competitive potential return. Among the currencies, Euro is uniquely available in FortuneXtra3, promptly responding to the emerging market needs.
2) Exceptional flexibility to meet changing needs with free currency conversion in whole or in part
FortuneXtra (both 5-year pay and 10-year pay) offers unlimited number of times4 of full or partial policy currency conversion for free from the 3rd policy anniversary. Whether due to changes in life plan or shifts in global market opportunities, our customers can convert their policy to one of a different policy currency, in whole or in part, while keeping the same policy commencement date to ensure their wealth accumulation remains on track after the conversion. In particular, partial conversion is unique in market3 and can help customers flexibly deal with different foreign currency needs at the same time.
3) Market-first3 dual currency accounts to capture gains and accumulate interest
Unlike conventional savings insurance plans, FortuneXtra offers the opportunity to save in up to two currencies under the same policy. Starting from the 10th policy anniversary, customers can flexibly lock the policy value to capture market upside, turning non-guaranteed values into guaranteed. After that, dual currency accounts allow customers to earn competitive interests in policy currency or one of the other 8 available currencies as selected and make flexible withdrawals any time as they wish.
4) Grow generations of wealth and pass on legacy with change of the insured an unlimited number of times and foreign currency needs catered
While FortuneXtra is extremely flexible, it is also great for legacy planning. Customers can change the insured of the policy for an unlimited number of times, enabling them to share their legacy with the generations to come. What’s more, inheritance solution coupled with the currency conversion capability can fully cater for the currency needs of the next generations and further enhance the flexibility of legacy planning.
From now until 9 February 2022, customers can enjoy up to 20% premium refund if they successfully apply for FortuneXtra.
For more information on FortuneXtra, please visit https://www.axa.com.hk/en/fortune-xtra-savings-plan.
The above data is for reference solely. For particulars on premium refund and product options, content material, phrases and exclusions, please seek advice from the product brochure, coverage provision and promotional leaflet.
 Supply: HKMA Month-to-month Statistical Bulletin (Sep 2021)
 The survey was carried out in Hong Kong in November 2021, with a complete of 1,017 respondents who’re aged 18 or above. Figures are weighed in relation to on-line inhabitants in Hong Kong.
 That is primarily based on a comparability amongst taking part financial savings plans with reversionary bonus obtainable for brand new enterprise offered by insurers that are coated within the Provisional Statistics on Hong Kong Lengthy Time period Insurance coverage Enterprise for January to June 2021 (in respect of life & annuity (non-linked (Class A)) particular person enterprise (direct new enterprise)) printed by the Insurance coverage Authority. The comparability was made with regards to the data on the corporate web site of the related insurers and different data obtainable to AXA as of November 2021.
 Ranging from the third coverage anniversary, one utility for conversion will be made inside one Coverage Yr; and utility have to be submitted inside 30 days from every Coverage Anniversary.
About AXA Hong Kong and Macau
AXA Hong Kong and Macau is a member of the AXA Group, a number one international insurer with presence in 54 markets and serving 105 million clients worldwide. Our function is to behave for human progress by defending what issues.
As probably the most diversified insurers providing built-in options throughout Life, Well being and Normal Insurance coverage, our objective is to be the insurance coverage and holistic wellness associate to the people, companies and neighborhood we serve.
On the core of our service dedication is steady product innovation and buyer expertise enrichment, which is achieved by way of actively listening to our clients and leveraging expertise and digital transformation.
We embrace our duty to be a drive for good to create shared worth for our neighborhood. We’re proud to be the primary insurer in Hong Kong and Macau to tackle the necessary want of psychological well being by way of completely different merchandise and providers. For instance, the Thoughts Charger operate on our holistic wellness platform “AXA BetterMe”, which is on the market by way of our cellular app Emma by AXA, is open to not simply our clients, however the neighborhood at giant. We’ll proceed to foster social progress by way of our product choices and neighborhood funding to help the sustainable growth of Hong Kong and Macau.
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