Latest news with #legacyPlanning
Associated Press
3 days ago
- Business
- Associated Press
Chubb Life Hong Kong Wins Five Awards at Bloomberg Businessweek/Chinese Edition "Financial Institutions 2025"
Celebrated for pioneering first-in-market features and integrated campaigns that reshape how Hong Kong plans for protection and legacy HONG KONG SAR - Media OutReach Newswire - 4 July 2025 - Chubb Life Hong Kong (Chubb Life HK) has received five prestigious awards at Bloomberg Businessweek/Chinese Edition 'Financial Institutions 2025". Chubb Life Hong Kong Wins Five Awards at Bloomberg Businessweek/Chinese Edition 'Financial Institutions 2025' Held on an annual basis, 'Financial Institutions' recognizes Hong Kong's leading financial institutions in the insurance, banking and securities sectors. Entries are based on performance over the past year, with categories spanning from products to company achievements. These five accolades reaffirm Chubb Life HK's leadership in providing customer-centric solutions and product innovation, as the company remains dedicated to delivering personalized protection and legacy planning that resonate with the evolving needs of customers in Hong Kong. Achievements include: Belinda Au, President of Chubb Life Hong Kong and Head of North Asia, said, 'These awards are a powerful validation of our vision to lead the insurance industry into a new era, one defined not just by protection, but by purpose. At Chubb Life Hong Kong, we're reimagining what insurance can do, empowering customers to shape their legacies, navigate life transitions with confidence, and embrace the future with clarity. This recognition affirms our belief that innovation must be customer centric, and that meaningful impact begins with understanding what truly matters to the people we serve.' Chubb Supreme Life Insurance Plan II (Regular Premium) is a flexible and forward-looking solution designed for high-net-worth individuals navigating today's dynamic financial landscape. Featuring several first-in-market innovations, including the option to fully pay up policies ahead of schedule, dynamic life protection that evolves with life stages, and customizable legacy distribution, the plan empowers customers to manage liquidity, preserve wealth, and plan their legacies with confidence. The product's thoughtful design and strong customer focus have distinguished it in the market, earning the Outstanding Award in Life Insurance for its ability to meet the sophisticated needs of modern legacy planning. Silver Life Insurance Plan is Chubb Life Hong Kong's innovative insurance solution. Designed for individuals aged 50 to 75, the plan and its medical riders address the evolving health and financial protection needs of an aging population. With a streamlined application process and guaranteed cash value, the plan enables seniors to secure their financial future. By paying a 10-year premium, the policy owner can enjoy life protection up to age 100. Commended for its customer-centric design and innovation, Silver Life supports seniors to enjoy life with dignity, independence, and peace of mind in their golden years, earning the Outstanding Award in Health & Protection and Innovation Product for its meaningful contribution to the well-being and financial confidence of the 'Silver Age'. The 'Every Way of Legacy' campaign redefined the concept of legacy, expanding it beyond material wealth to encompass values, memories, and personal impact. This fully integrated, city-wide initiative engaged Hong Kong citizens in a meaningful and inclusive dialogue about what it means to leave a legacy. Through a blend of high-impact media takeovers and intimate storytelling, the campaign established a strong presence across both offline and digital platforms. The campaign garnered remarkable engagement and overwhelmingly positive feedback from the Hong Kong community. Disclaimer: **Important Note**: This press release is intended to be distributed in Hong Kong only and shall not be construed as an offer to sell, solicitation or persuasion to buy or provision of any of insurance products outside Hong Kong. Hashtag: #Chubb The issuer is solely responsible for the content of this announcement. About Chubb Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb employs approximately 43,000 people worldwide. Additional information can be found at:
CNA
6 days ago
- Business
- CNA
The gift of a lifetime: How early legacy planning empowers the next generation to pursue their dreams
Every child has different dreams. Whether yours aspires to become a doctor, an artist or entrepreneur, you want nothing more than to see those ambitions take flight. While each ambition is unique, one thing remains constant: The enduring power of family support. According to HSBC's Quality of Life Report 2024, 56 per cent of affluent individuals believe legacy planning is a meaningful way to express love and support for their family, even beyond their lifetime. However, the report also revealed a striking gap: While 37 per cent of affluent individuals intend to pass down their assets, only two in 100 have planned for all or most of their legacy needs in a holistic manner. This disconnect suggests that while many recognise the importance of legacy – both financial and personal – few have taken concrete steps to put their intentions into action. Safeguarding your children's future begins with early legacy planning. Besides giving your wealth more time to grow, it also lays a strong foundation for your children to pursue their ambitions with confidence and security. For many families, life insurance offers an accessible starting point for legacy planning, providing protection while also building a long-term asset. Unlike other legacy planning solutions such as wills or lasting powers of attorney, it serves a dual role: Safeguarding loved ones and supporting long-term wealth accumulation, ensuring continuity across generations. According to the Quality of Life report, 31 per cent of respondents say they have purchased insurance specifically with inheritance in mind. Mr Harpreet Bindra, CEO of HSBC Life Singapore, described life insurance as a foundational yet powerful tool for legacy planning: 'For many families, life insurance is a strategic first step. It complements more complex structures such as trusts and can offer greater liquidity, making it an ideal choice for those who want to begin their legacy planning journey with simplicity and ease.' For many families, legacy planning is about being intentional with what you leave behind, including the values and life lessons you hope your children will carry forward. Half of those surveyed believe that passing on family culture and values is just as important as financial inheritance, highlighting the need for a more holistic and relationship-based approach. Being proactive about financial planning helps families manage wealth while preserving strong relationships. 'Starting early gives families the time and space to think beyond asset distribution – to consider how wealth will be managed, how heirs can be prepared, how business continuity can be safeguarded and how conflicts can be minimised,' added Mr Bindra. For those ready to take that first step, plans like HSBC Life Emerald Legacy Life III, are designed to meet modern legacy needs, providing whole life protection for death and terminal illness while preserving and enhancing wealth for future generations. The plan offers flexibility through single- and limited-pay options of five, 10 and 15 years, enabling affluent individuals to begin their legacy planning early. With annual premiums starting from approximately US$2,750* (S$3,526), policyholders can build lasting wealth for their children over time without compromising on retirement or other financial priorities. Coverage extends to age 120, providing peace of mind that your legacy is built to last. The option to change the life insured up to twice means the plan can evolve with your family's needs, helping to safeguard not just wealth, but your family's future. You also have the flexibility to disburse the death benefit in two to 10 annual instalments under the limited-pay option – turning your legacy into a lasting gift that supports your loved ones over time. Each payout is a reminder that you are still by their side, offering encouragement and stability as they navigate life's key milestones, be it graduation, starting a business, pursuing their passion, marriage or buying their first home. 'When planning a legacy, it's about safeguarding what matters most – your values and your children's future,' said Mr Bindra. 'The plan you put in place today can empower them to move forward with purpose, laying the foundation for a lifetime of support.' *Based on a 17-year-old male, non-smoker, who purchased a 15-year premium term plan, with US$500,000 minimum protection cover, up to age 85.
CNA
09-05-2025
- Business
- CNA
CNA938 Rewind - Mind Your Money - The importance of Legacy Planning with a greying population
CNA938 Rewind With a fast-growing ageing population, why does legacy planning become even more relevant? For those without financial training, Hui Wong speaks with Wong Sze Keed, newly-elected President of the Life Insurance Association, Singapore from 2025-2026, to highlight the urgency of Legacy Planning.
