{"id":18263,"date":"2021-10-21T02:00:00","date_gmt":"2021-10-21T02:00:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2021\/10\/21\/chubb-gold-fortune-deferred-annuity-plan-offers-stable-inflation-proof-retirement-income\/"},"modified":"2021-10-21T02:00:00","modified_gmt":"2021-10-21T02:00:00","slug":"chubb-gold-fortune-deferred-annuity-plan-offers-stable-inflation-proof-retirement-income","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2021\/10\/21\/chubb-gold-fortune-deferred-annuity-plan-offers-stable-inflation-proof-retirement-income\/","title":{"rendered":"Chubb Gold Fortune Deferred Annuity Plan offers stable inflation-proof retirement income"},"content":{"rendered":"

\n<\/p>\n

\n

HONG KONG SAR –\u00a0Media OutReach<\/a>\u00a0– 21 October 2021 –\u00a0Life expectancy of Hong Kong’s
\nmen and women is expected to increase to 83 and 89 respectively by 2024,1 <\/sup>\u00a0adding further pressure on savings already hit
\nby low interest rates in recent years.\u00a0
\nAs people live longer, there is a strong need for stable inflation-proof
\nincome for the retirement life.<\/p>\n

\u00a0<\/p>\n

In response to the challenge above, Chubb Life Hong Kong<\/a> has
\nlaunched “Chubb Gold Fortune Deferred Annuity Plan” (“Chubb Gold Fortune”)
\nwhich offers increasing guaranteed income over time. <\/p>\n

\u00a0<\/p>\n

This gives customers greater financial certainty, with the
\nknowledge that they will be able to enjoy a certain standard of living during
\nretirement. Chubb Gold Fortune offers customers a secure income stream for
\nretirement with a guaranteed monthly annuity income that increases by 5%
\nannually from the 2nd<\/sup> year of the annuity period. <\/p>\n

\u00a0<\/p>\n

Wai Kit Chan, Chief Marketing Officer of Chubb Life Hong Kong said
\n“We understand that customers value choice and flexibility, so we have designed
\ntwo premium payment terms \u2013 five years and 10 years. Customers are also allowed
\nto start receiving their annuity income at the age of 55 or 65.\u00a0 Also, the projected breakeven period
\nof the policy can be as short as 8 years2 <\/sup>and customers can apply
\nfor premium holidays.\u00a0 Additionally, it
\nmakes financial sense from a tax perspective as the policy owner can claim up
\nto HK$60,000 tax deduction from the qualifying deferred annuity premiums
\npaid per tax assessment year.3<\/sup>“<\/p>\n

\u00a0<\/p>\n

Chubb Gold Fortune offers further peace of mind with an
\nadditional 10% of the guaranteed monthly annuity income in the unfortunate
\nevent of the insured being diagnosed with total and permanent disability before
\nthe annuity period starts.\u00a0 A lump sum is
\npaid to the beneficiary(ies) providing financial security if the insured
\npasses away. If there is only one beneficiary, he\/she can opt to receive the
\nremaining monthly annuity income instead of a lump sum.<\/p>\n

\u00a0<\/p>\n

Further product information can be found at:<\/b> https:\/\/www.chubb.com\/hk-en\/personal\/chubb-gold-fortune-deferred-annuity-plan.html<\/a><\/p>\n

\u00a0<\/b><\/p>\n

Remarks: <\/p>\n

1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\n<Hong
\nKong Population Projections 2020-2069>, The Census and Statistics
\nDepartment, The Government of the HKSAR<\/p>\n

2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\nThe
\nnumber of years to reach breakeven point is for reference only and it is
\nsubject to the premium payment mode, premium payment term as well as the actual
\namount of non-guaranteed benefits which are determined by us from time to time
\nand based on our experiences and expectation of a series of factors including
\nbut not limited to investment return, claims, policy surrenders and expenses.<\/p>\n

3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\nThe
\nmaximum tax-deductible limit is an aggregate of qualifying deferred annuity
\npremiums and MPF tax-deductible voluntary contributions. Taxpayers must meet
\nall the eligibility requirements for tax deductions for qualifying deferred
\nannuity policy set out in the Inland Revenue Ordinance and any guidance issued
\nby the Inland Revenue Department (IRD) to claim this tax deduction. Please
\nrefer to the website of the IRD (www.ird.gov.hk) or contact the IRD directly
\nfor any tax related enquiries.<\/p>\n

\u00a0<\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

HONG KONG SAR –\u00a0Media OutReach\u00a0– 21 October 2021 –\u00a0Life expectancy of Hong Kong’s men and women is expected to increase to 83 and 89 respectively by 2024,1 \u00a0adding further pressure on savings already hit by low interest rates in recent years.\u00a0 As people live longer, there is a strong need for stable inflation-proof income for …<\/p>\n","protected":false},"author":1,"featured_media":18264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18263"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=18263"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18263\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/18264"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=18263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=18263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=18263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}