livi bank Launches Easy-to-use, Transparent 3-Year Savings Insurance Plan for Hong Kong Customers

livi bank, Hong Kong’s leading lifestyle-driven virtual bank, is launching today a simple, easy-to-apply 3-Year Savings Insurance Plan that offers guaranteed rates of return designed to meet the financial needs of customers at their different life stages.

Getting the Savings Insurance Plan takes just a few clicks with the simple and user-friendly interface of the livi App. Customers can avoid the usual cumbersome application documentation and apply for the Plan instantly anytime. With single premiums from as low as CNY/HK$10,000 up to CNY/HK$500,000, each customer can comfortably tailor their saving strategy to their individual needs. The Plan is underwritten by BOC Group Life Assurance Company Limited, a subsidiary of livi’s major shareholder BOC Hong Kong.

The Savings Insurance Plan is being launched with an exclusive limited offer for livi customers, where they can earn an impressive annualized guaranteed rate of return up to 2.48% for HK dollar-denominated plans and 3.18% for renminbi-denominated plans*. The exclusive limited offer launch will start on 2 May.

livi Chief Product Officer Carol Hung said, “Our launch of the Savings Insurance Plan represents livi’s first move into insurance offerings in support of the saving goals of our customers. We believe that insurance need not be complex, and with our carefully-designed customer journey we are pleased to bring the simple, transparent and reliable livi customer experience to the local insurance market together with BOC Life.”

The partnership with BOC Life underscores livi’s strategy of leveraging its shareholder ecosystem to enrich the customer experience.

Ngai Chi Wai, Chief Marketing Officer of BOC Life, said, “At BOC Life, we are committed to be our customers’ life partner, and strive to provide quality and professional services and life insurance solutions for them. We are excited to deliver such brand promise under the partnership with livi through the launch of the 3-Year Savings Insurance Plan to help customers fulfil their aspirations.”

BOC Life’s sound financial strength has been affirmed by international rating agencies, including financial strength rating of “A” by Standard & Poor’s and “A1” by Moody’s Investors Service.

“We are pleased to be able to reward our customers with the opportunity to benefit from the exclusive launch offer. Our aim is always to help our customers in Hong Kong to build their wealth in a way that’s easy, while at the same time helping them to enjoy the livimoments in their lives. We will be introducing more insurance products to our customers very soon,” Carol Hung concluded.