AUD Guaranteed Income Savers II

Hong Leong Assurance has come up with Series II of its AUD Guaranteed Income Savers product, to be distributed through Hong Leong Bank.

Product features:

• 4 year non-participating endowment plan
• 100% capital guaranteed at maturity
• Initial investments from RM30,000
• Offer period: 17 July - 4 August 2008
• Fund size: RM36 mil
• Guaranteed annual income of up to 7.55%
• Death benefits of up to 235% of annual premium paid

Series I that was launched in May 2008 exceeded initial target fund size of RM42 mil within 8 days and the fund size was increased by RM36 mil.

In Australia, fixed deposit interest rate for term of 24 months can be as high as 8.3% p.a.

Source: Hong Leong Bank, HLA & TAS Research