YF Life Launches Tax Deductible “MY Deferred Annuity”

Enjoy up to 8% Discount on First-year Premium

September 17, 2019

YF Life Insurance International Ltd. (YF Life) has launched its brand new “MY Deferred Annuity”, a qualifying deferred annuity policy certified by the Insurance Authority. The plan offers monthly annuity payment and a wide range of flexible options, enabling customers to enjoy the comfortable retirement they desire.

Mr. Victor Yip, Chief Operating Officer and Chief Actuary of YF Life, said, “Retirement is a path that we all have to walk on, however, savings and MPF alone are not sufficient to cover our retirement needs over the decades, so we should plan well ahead. A ‘MY Deferred Annuity’ provides not only a stable stream of guaranteed fixed monthly annuity payments, but also monthly non-guaranteed annuity payments delivering higher potential returns. The projected range of total IRR is 3.17% - 4.73%, and the range of guaranteed IRR is 1.30% - 2.72%, which is one of the plan’s major competitive advantages. On top of that, the plan offers multiple options to accommodate individual retirement needs: customers may choose a short 5- or 10-year premium payment term, with no requirement for a medical examination; an accumulation period of 10, 20 or 30 years and then to receive annuity payments over an annuity period of 10 or 20 years after the accumulation period. Flexible payout options also allow customers to receive monthly annuity payments in cash or to accumulate the payments in the policy to gain an additional 4% interest per annum^* for withdrawals any time in the future. Furthermore, if the Insured suffers total disability due to accident, all subsequent premium payments under the basic plan will be waived.”

Ms. Jeanne Sau, Chief Marketing Officer of YF Life, said, “When MPF was launched, YF Life immediately identified the huge potential of the retirement market and pioneered the first-ever lifetime annuity in the Hong Kong market in 2002. The response to this has been overwhelming and has given us unmatched experience in the field of annuity products. We understand that retirement is a matter of personal financial planning, so we offer customers well-rounded annuity products tailored to their individual needs, including our flagship products ‘MY Lifetime Annuity’ and ‘Infinity Saver’. Both plans offer a market-unique advantage of 11 lifetime annuity options in total to cater for customers’ diversified retirement needs, as well as provide guaranteed lifetime annuity payouts. The launch of ‘MY Deferred Annuity’ not only makes our annuity product range more comprehensive, but also provides customers with a diversified choice of annuity plans, giving them better control of their retirement finances, while embodying the brand commitment to help our customers ‘Own the future’.”

From now until October 31 2019, upon successful application for the “MY Deferred Annuity” plan, up to 8% discount on first-year premium will be offered.

YF Life is the pioneer in introducing annuity products and has secured its leadership position in the market. With its unique and competitive advantages, YF Life has received numerous industry accolades, including “Best Annuity Product” in iMoney Insurance Excellence Awards, as well as “Best in Class – Annuity Plan” and “Annuity Plan – Excellence” in BENCHMARK Wealth Management Awards and Bloomberg Businessweek Financial Institution Awards respectively.

YF Life Insurance International Limited is a member of publicly listed Yunfeng Financial Group Limited (HKSE: 376), whose major shareholders include Yunfeng Financial Holdings Limited and MassMutual International LLC. Leveraging our robust financial background and solid reliability, YF Life is committed to helping customers “own the future” by providing professional and technology-enhanced one-stop risk- and wealth-management consulting services, as well as MPF services.

For more details, please refer to the product brochure or click here.

^*The interest rate is not guaranteed and shall be determined by YF Life from time to time