15 JANUARY 2003

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HSBC’S Lifestyle Single Premium Plan a hit with cautious investors

HSBC Life Assurance (Malta) Ltd’s highly popular Lifestyle Single Premium Plan continues to generate great demand from regular savers looking for capital security and attractive regular income in the current period of uncertainty on the financial markets.

The HSBC Lifestyle Single Premium Plan is a single premium version of the company’s highly successful ‘with-profits’ Lifestyle series savings plans which have been meeting the needs of regular savers since March 1996.

The single premium plan has been designed in order to meet the current demand from Maltese consumers. The result is a flexible and tax-efficient savings plan, which amongst several other benefits provides the cautious saver with full protection of the allocated capital, attractive annual bonus rates and some life assurance protection.

The minimum amount required to invest in the Lifestyle Single Premium Plan is Lm1,000. Customers have the facility to add further deposits into their policy account at any time with a minimum of Lm250. The money is invested in the HSBC Life’s "With Profits Fund" which includes a wide range of financial instruments, such as local and international bonds and equities, property, and cash. The aim of the Fund is to ensure sustainable attractive long-term growth that maximises returns for the policyholder together with an adequate level of security.

After the initial one-off policy fee and allocation charge, there are no annual management fees, no exit charges after three years, and no personal liability to tax under current legislation.

HSBC Life Director Godfrey Swain comments, "With the financial backing of the HSBC Group, and our local and international expertise, The Lifestyle Single Premium Plan is a safe and rewarding life assurance savings plan designed to offset the negative effects of inflation on the purchasing power of capital."

For more information on the Lifestyle Single Premium Plan one may call HSBC Bank Malta p.l.c. customer helpline 80074444 or visit any HSBC branch in Malta and Gozo.

HSBC Life Assurance (Malta) Ltd is licensed by the MFSA to carry on long term business of insurance in Malta. HSBC Bank Malta p.l.c. is a sub-agent of HSBC Life Assurance (Malta) Ltd.


Copyright © Newsworks Ltd. Malta.
Editor: Saviour Balzan
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