HLB Launches AUD Guaranteed Income Savers II
Plan guarantees the capital and returns
17 July 2008, Kuala Lumpur - Hong Leong Bank (HLB) today launched the Hong Leong AUD Guaranteed Income Savers II plan (AUD GIS II), a 4 year non-participating endowment plan that is designed to hedge against the rising cost of education. This plan enables customers to receive an attractive total guarantee return on Annual Premium and is 100% capital guaranteed upon maturity. Moreover, customers will receive insurance protection. The cost of education is rising at 6% per annum and this is expected to keep climbing whether a child studies locally or abroad.
The cost of education includes not only school fees, books and lodging but also the many other day to day expenses that come with it. Parents are required to start planning and saving early lest they find themselves with not enough to finance their children’s education when the time comes.
“As parents, we want to give our children the right foundation for a bright future. That foundation is built on a good education. Though we may truly want this for our children, the fact is we may not actually be able to afford this if we were to only depend on our monthly income and the little we could put aside as savings - because more often than not, we find ourselves just barely coping with the rapid increase in prices of goods and services. Given this scenario, do you think you can afford the cost of education even if it’s just a year or two from now?” said Ms Moey Tan, HLB’s Chief Operating Officer, Personal Financial Services, “The AUD Guaranteed Income Savers II is a product that enables customers to hedge against the rising cost of education and lock in an attractive guaranteed total return,” added Ms Tan.
“Australia remains one of the most popular destinations overseas for education and training for Malaysians. Based on July 2007 statistics, there are approximately 25,000 Malaysians pursuing Australian programs. That is why we have developed an Aussie Dollar based product.”
AUD GIS II is an affordable plan with initial investments starting as low as RM30,000. The offer period is limited, commencing 17 July till 04 August 2008, subject to early closure. The fund size is also limited at only RM36 million available. In addition, gift sets will also be given away to customers when they sign up this plan – this, while stocks lasts.
-END-
Press Release - 17/07/2008
