YF Life Launches Infinity Saver 2

Integrated wealth management solution bundles capital accumulation, lifetime annuity and wealth legacy

February 28, 2020 

YF Life Insurance International Ltd. (YF Life) has announced the launch of its Infinity Saver 2, a mid-to-long-term participating insurance plan that provides higher returns and flexible funding arrangements to help customers achieve their financial goals. 

Infinity Saver 2 is an upgraded version of Infinity Saver, one of YF Life’s flagship products. It offers higher potential returns, dividends, plus the flexibility to convert cash value into a lifetime annuity, and creates an inheritance to pass on on the accumulated wealth to future generations. 

Mr. Victor Yip, Chief Operating Officer and Chief Actuary of YF Life, says, “Against a background of persistently low global interest rates, Infinity Saver 2 provides an ideal solution for customers giving them a professional investment team to invest on their behalf. The plan adopts a proactive asset-allocation strategy. With a balanced investment portfolio covering different regions, industries and investment cycles, we aim to diversify the investment risk and seek out higher potential returns. The plan provides guaranteed and non-guaranteed returns to add momentum to the capital. In addition to the Guaranteed Cash Value, the plan offers a non-guaranteed Annual Dividend and Terminal Bonus. Customers may opt to accumulate the Annual Dividend in their policy to gear up for higher returns. The current interest rate on the accumulation of the Annual Dividends is 4%. The plan offers various flexible funding options. The Annual Dividends can be withdrawn at any time. In addition, from the third policy anniversary onwards, the Terminal Bonus will be declared at least once a year. To enable customers to capitalize on market opportunities, the plan offers a Terminal Bonus Lock-in Option which allows converting a portion of the Terminal Bonus into Annual Dividend. Customers may either cash out or leave it to accumulate in the policy.”

Mr. Victor Yip added that the plan is an ideal solution to cater for one’s personal financial needs as well as those of future generations. With the plan’s medium to long-term investment, it helps lower the risk and enhance the potential returns. For example, if a parent takes out an Infinity Saver 2 plan for his/her child, with an annual premium of US$50,000 and a 5-year premium payment term, the projected cash value and projected total internal rate of return (IRR) on the 20^th policy anniversary will be approx. US$61,000 and 5.1% respectively, and will be approx. US2.35 million and 6.07% respectively on the 40^th policy anniversary, and will be approx. US$10.98 million and 6.73% respectively on the 60^th policy anniversary. With the compounding effect, the projected cash value will continue to accumulate. The projected total IRR can be as much as 7.06%¹.

With Infinity Saver 2, the premium payment term may be as short as 5 or 10 years. No medical examination is required. In addition, the plan offers a death benefit, plus a Waiver of Premium Benefit up to US$200,000. 

Ms. Jeanne Sau, Chief Marketing Officer of YF Life, says, “To lead a happy life with greater peace of mind, we need to plan our future at the earliest opportunity. Infinity Saver 2 is a mid-to-long-term wealth- management solution taking care of one’s personal financial needs as well as those of future generations. With a single policy, it fulfils the needs of capital accumulation, retirement planning, and passing on a legacy to future generations. Unlike other insurance savings plans, the highlight of Infinity Saver 2 is that it offers the option to convert all or part of the cash value into an annuity with guaranteed lifetime payouts to relieve any worries of insufficient retirement income. For those who prefer to pass on the legacy to future generations, the plan enables a change of insured to a loved one on unlimited occasions. Advance instructions may also be given to nominate a contingent policy owner. Alternatively, prior instructions may be created so that the designated beneficiary will become the new insured in the event of the death of the insured. All in all, the plan enables you to pass on your love and creates a snowball effect of maximizing the cash value.”

Infinity Saver 2 has the competitive advantage of offering genuine annuities, which are rarely available in the market. Customers can freely choose to convert all or part of the cash value into an annuity with guaranteed lifetime payouts. It also offers a broad range of 11 annuity options to meet the different retirement needs of different customers, the most to be found on the market. By choosing a joint annuitant option, the insured is able to share the annuity with his/her spouse. By transferring the policy ownership, both the accumulated wealth and annuity income can be enjoyed by the future generations. YF Life is dedicated to developing innovative insurance solutions. With the unique product advantages, YF Life occupies a leading position in the annuity market and has received numerous coveted accolades, including “Best Wealth Accumulation and Legacy Planning” in the iMONEY Insurance Excellence Awards 2019, “Best-in-Class – Retirement Product” in the BENCHMARK Wealth Management Awards and “Annuity Plan: Outstanding Performance” in the Bloomberg Businessweek Financial Institution Awards. 

With the launch of Infinity Saver 2, up to 8.5% first-year premium discount and a 3.2% p.a. interest rate on future premium deposits are available for application until 26 June 2020. In addition, to offer extra protections to customers against COVID-19, a Free Hospital Income Benefit² will be automatically included upon successful application. Upon diagnosis of the infection, the Insured will be offered a daily income benefit of HK$600 during hospitalization for up to 45 days, with a total benefit of up to $27,000. 

Apart from the Free COVID-19 Hospital Income Benefit for customers of any individual insurance policy, YF Life earlier offered 30,000 Free Hospital Income Benefits to the general public, with a total sum insured of up to HKD800 million, and received overwhelming response. Also, with the spread of COVID-19, YF Life expressed concerns about the needs of the visually impaired and made a donation of hand sanitizers to member agencies of Community Chest of Hong Kong dedicated to serving the visually impaired. Ms. Sau continues, “In spite of an uncertain future, we firmly believe in our brand commitment to ‘Own the future’ by helping each other to combat the epidemic.” 

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.

Notes:
1. The projected total internal return rate is calculated based on a 5-year premium term. 
2. Applicable to cases of COVID-19 infection diagnosed on or before 30 June 2020.