Well Link Life Insurance Company (Well link Life) has announced an enhancement and upgrade of its tax-deductible deferred annuity plan, Well Enjoy Deferred Annuity Plan (Supreme). The enhanced features provide customers with more flexible options to meet different retirement and financial needs.
With a five-year premium payment period, customers can choose to receive a guarantee monthly annuity income for 10 years or 20 years. The plan now also offers customers the policy currency option of RMB in addition to US Dollars and Hong Kong Dollars.
Adding RMB as a currency option was in response to the company’s expectation that many Hong Kong people will seize the opportunity to work in the Guangdong-Hong Kong-Macao Greater Bay Area and consider retiring in Mainland China cities, given the increasing interconnectedness between Hong Kong and Mainland China cities.
Well link Life CEO Thomas Lee said, “Well Enjoy Deferred Annuity Plan (Supreme) has received overwhelming response since its launch in October last year. With an issue age as low as 35 and its tax deduction feature, the plan has strong appeal to the young population.
“Our enhancements, which include the new option of receiving guaranteed annuities over 10 years, provides customers with more flexibility and diversity over their monthly income. This enables them to embark on a personalised financial planning journey that best suits their unique financial goals and prepares them better for retirement.”
Well Enjoy Deferred Annuity Plan (Supreme) is a Qualifying Deferred Annuity Policy certified by the Hong Kong Insurance Authority with premiums eligible for tax deduction. Customers can apply for the plan through a variety of channels, including insurance intermediary partners, Well Link Life’s online application platform or via the Well Link Life Wealth Management Centre.