Here's all you need to know about Bank of East Asia's new WiseSaver RMB insurance plan

Apply until April 27 to enjoy a guaranteed annual return of 2.4%.

In a statement, the Bank of East Asia announced the launch of the WiseSaver RMB Insurance plan (the “Plan”) by BEA Life Limited (“BEA  Life”), BEA’s wholly-owned life insurance arm.

Here's more from BEA:

Customers may apply for the Plan during the application period from now until 27th April, 2013 to take advantage of potential Renminbi (“RMB”) appreciation and enjoy a guaranteed annual return of 2.4%.

The Plan is an RMB-denominated endowment plan open to persons aged between three months and 70 years. Customers may enjoy a short premium payment period of two years. The Plan offers life protection for five years and guaranteed annual returns of 2.4% upon policy maturity, with guaranteed protection of up to 105% of the total premium paid.

Mr. Patrick Wan, Managing Director of BEA Life, says, “Since the first launch of RMB insurance plan in 2010, our RMB insurance plans have been well received by the market. To cater to the continuing strong demand, we have developed the new WiseSaver RMB Insurance plan, which we believe will become one of the most popular products of its kind in the market. In addition to guaranteed high returns, it enables customers to enjoy potential RMB appreciation within just five years to meet their personal financial goals.”

The Plan allows customers to make premium paymentsin RMB or Hong Kong dollars and settle policypayment in RMB, with a minimum annual premium of RMB35,000. The application process is simple and easy, and no medical examination is required for Plan with an annual premiumof RMB4,000,000 or less per insured person.

For more information on the Plan, please call the BEA Insurance Services Hotline on (852) 3608 2928, or visit any BEA branch.