Hong Kong’s virtual bank ZA announced that it has rolled out another short-term savings insurance plan starting from HKD 10,000 (approximately US$ 1,280) through the app in just 3 minutes.
The ‘ZA Savings Insurance 4’ is denominated in Hong Kong dollars with an 18-month locked-in period.
The maximum premium for each insured person and policy is capped at HKD 500,000.
According to ZA Bank, the insurance plan offers guaranteed returns of 4.8% p.a. 3 at maturity if no surrender has been made.
The bank added that users will receive a premium discount of 0.65% during a limited-time which translates into a net guaranteed return of 5.25% p.a. at maturity.
The plan also provides a lump-sum death benefit in the unfortunate event of death of the insured while the policy is in force.
