TM ASIA Life Malaysia Bhd is confident of locking in RM40 million in premiums within three weeks of the launch of its short-term single premium capital protected investment-linked product, Asia Jade.
Asia Jade is strategically designed and offers a 3.75-year capital protection investment plan with 20% Head Start Coupon and potential Maturity Bonus of 10%, issued by HSBC Bank Malaysia Bhd. The product is available from June 8-30, 2009.
TM Asia Life deputy CEO Jun Tokura said that Asia Jade is a close-ended fund that offers life protection insurance and the opportunity to invest into three promising stocks in China.
"We are very optimistic about this fund as it is specially selected to capitalise on the strength of China's economy and the stimulus package offered by the China government targeting on infrastructure development. "With this, we have carefully chosen three promising stocks, which are China Mobile Ltd, China Railway Group Ltd and China National Offshore Oil Corp Ltd," he said.
Following the successful launch of Asia TriMax in October last year and due to popular demand from our customers, Tokura said TM Asia Life has chosen to tie up with HSBC Bank Malaysia again to introduce Asia Jade, its second investment plan. The company is confident that the new product will appeal to many investors as it offers life protection and potentially high capital growth within a short time frame.
"Based on the back testing results of China Mobile and China National Offshore Oil Corp from July 1, 2002 to April 7, 2009, investors can expect average returns of 29.33% at maturity", he added.
Asia Jade fund requires a minimum investment of RM10,000. Investors will be assured of 100% capital protected returns upon maturity, which will be in 2013.
The life insurance will offer financial protection of up to 125% of basic premium against death and TPD (Total and Permanent Disability). Potential investors as young as 19 years of age are eligible to invest in Asia Jade, while life assured can be as young as one month to 75 years old.
TM Asia Life also offers education, endowment, whole life, term, medical, investment linked and group insurance solutions, covering a range of over 20 products.
It is the first Japanese owned life insurance company in Malaysia following the acquisition of Asia General Holdings by Tokio Marine & Nichido Fire Insurance Co Ltd, a unit of Japan's largest insurer, Tokio Marine Holdings, Inc.
(This story appeared in The Malaysian Reserve on June 9, 2009. The Malaysian Reserve is a daily business/finance newspaper published out of Kuala Lumpur, with a sectoral page on insurance & takaful called UNDERWRITER, appearing on alternate Wednesdays)
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