KUALA LUMPUR, June 14 (Bernama) -- Hong Leong Bank's (HLB) single-premium non-participating Secured Returns Plan aims to enable the customers to lock in their financial security with increasing guaranteed income for 14 years.
In a statement here Monday, HLB said the guaranteed income would increase periodically, 3.50 per cent per annum for year one to three, 3.65 per cent for year six to 10, and 4.10 per cent for year 11-14.
"The income is payable on a yearly basis," it said.
HLB said the plan also offered life insurance protection up to 125 per cent and was 100 per cent capital-guaranteed upon maturity.
"The flexibility of this plan allows customers to cash out at 100 per cent capital back at surrender periods at the end of year 3,5 or 10," it said.
Its chief operating officer (personal financial services), Moey Tan, said the plan was a simple yet flexible for customers who were keen to diversify their investments.
"It is easy to enroll and is specially formulated for those who wants both saving plan plus insurance coverage without the hassle of investing in too many schemes," she said.
The endowment plan is open to customers aged between 18 and 60 years and is available from June 9-30.
It is underwritten by Hong Leong Assurance Bhd.
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