Blue launches “WeSave Short Term Insurance Plan ST1”

(Hong Kong, 29 March 2023) Blue, the first digital life insurer in Hong Kong, continues to break new ground and innovate simple solutions for its customers. Earlier this month, Blue announced the launch of “WeSave Short Term Insurance Plan ST1”[1] (WeSave ST1), a new product that allows customers to reach their saving goals quickly. With a flexible policy term, guaranteed rate up to 4.7%[2] and a premium amount of up to US$1,000,000, the product is designed to let customers enjoy how ‘simple’ insurance can be.

Mr. Charles Hung, CEO and Executive Director of Blue, stated: “At Blue, we always put our customers first. Recognising the restrictions on savings insurance products in the market, we saw that many of these products failed to offer a single guaranteed rate for the entire policy term. In today’s turbulent global economy, more customers are seeking safer, more stable, high-return savings insurance options. To meet this demand, we are proud to introduce “WeSave Short Term Insurance Plan ST1”. With a short saving period and high returns, this plan is a simple yet effective way for customers to achieve their savings goals. We believe that insurance should be straightforward, simple, and flexible, and WeSave ST1 reflects our commitment to this principle.”

Features of “WeSave Short Term Insurance Plan ST1”

Blue’s WeSave ST1 combines protection and savings in one simple, customer-centric package. Key features include:

• High returns in a short period: Customers can choose their preferred savings period – 1 or 2 year(s) of Policy Benefit Term. The 1-year plan guarantees 4.5% p.a., while the 2-year plan guarantees 4.7% p.a.[2]. Customers can choose their own plan according to their needs, enjoying a more personalised experience.

• Flexible premium amount: Premium amounts range from US$4,000 to US$1,000,000.

• Easy to apply: With no monthly payments required, customers can simply pay a lump sum premium and lock in a high rate and earn stable returns with ease. Pre-application body health checks are not required.

• Accidental death benefit: If the death of the Life Assured individual is caused by an accident, in addition to Death Benefit[3], an extra 100% of Total Premium Paid will be given[4].

Customers can experience Blue’s flexible and affordable saving products and easily apply for WeSave ST1 through Blue’s official website or via the BlueHK App. For more product details, terms and conditions of “WeSave Short Term Insurance Plan ST1,” please visit: http://bit.ly/3FwCVQa

Remarks:

[1] “WeSave Short Term Insurance Plan ST1” is a savings insurance plan, not a Bank savings product. Terms and Conditions apply to the product. For details, please refer to the Product Summary and Policy Provisions.

[2] “An average guaranteed crediting interest rate of 4.7% p.a.” refers to the average guaranteed crediting interest rate of the 2-year plan upon maturity. Early surrender charges apply during the entire policy years. Terms and Conditions apply to the product.

[3] Take the higher of the following: 101% of Total Premium Paid or 100% of Guaranteed Cash Value.

[4] The benefit is subject to a maximum of US$125,000 per Life Assured under all WeSave E1 Insurance Plan and WeSave Short Term Insurance Plan ST1.