Dragon Renminbi Plan

Dragon Renminbi Plan
Overview | Promotion

An opportunity to grow your wealth

With Dragon Renminbi Plan, Singapore’s first1 Renminbi (“RMB”)-denominated single premium non-participating endowment plan, we can help you tap into China’s strong growth dynamics and gives you the opportunity to diversify your currency portfolio. Additionally, it gives you the flexibility to receive your maturity benefit2 in your preferred currency3.


In the graphical illustration below, Mdm. Tan purchased a RMB 250,000 Dragon Renminbi Plan that gives her a value of 115.09%4 at maturity7, which is approximately RMB 287,7255.

Dragon Renminbi Plan Benefits

  • Minimum Single Premium amount of RMB 250,000
  • Value of 115.09%4 at maturity7 in the 5th year, annualized at 2.85%8
  • Peace of mind with protection benefits6
  • Choice of receiving returns in non-RMB currency3
  • Hassle-free application process
  • Issuance upon application (i.e. 100% acceptance) by Aviva Ltd ("Aviva")

Other facts on Dragon Renminbi Plan

Cash Surrender Value

This Plan has a Cash Surrender Value that is mentioned below and is payable at the end of each policy year.

End of Policy Year 1 2 3 4 5
Cash Value (in RMB terms) expressed as a % of the Single Premium 85% 90% 95% 100% 115.09%
Premium Payment Method The Single Premium amount payable to Aviva Ltd (”Aviva”) is to be nett of any transaction fees arising from foreign exchange transactions (if applicable).

Payment to Aviva's RMB bank account in RMB:
- Direct transfer from customer's RMB account; or
- Via a foreign exchange conversion of non-RMB currency
   (such as the Singapore Dollar) equivalent to the Single
   Premium amount (in RMB) followed by a direct transfer
   payment in RMB of Single Premium amount. This payment
   will be subject to a foreign exchange transaction nett of any
  transaction fees arising from the foreign exchange
  transaction (if any).
Payments by Aviva (Applicable to cancellation, full surrender or maturity) The relevant cash value will be payable upon receiving instructions from the policyholder in Aviva’s prescribed form, with details such as:

  1. the policyholder’s preferred choice of currency being either the Contract Currency (i.e. RMB) or other non-RMB currency (such as the SGD or USD; subject to the operational feasibility of offering non-RMB currencies as a choice); and In the event that the policyholder chooses RMB as their preferred currency, they may be subject to the currency risk of RMB and the payment of RMB will be dependent on the availability of RMB outside of the People’s Republic of China (“PRC”) and is subject to all applicable laws and restrictions prevailing at the relevant time.
  2. preferred payment mode being either via direct credit to customer’s nominated bank account or via cheque (not applicable for RMB). When payments are to be made by Aviva in a non-RMB currency, the RMB proceeds will be converted from the contract currency to the non-RMB currency at a prevailing exchange rate determined by Aviva.

Note:
For point (i) please note that Singapore citizens will receive cash paid under the Plan in Singapore Dollars by default unless Aviva receives a written confirmation on the preferred currency (either the Contract Currency or other non-RMB currency) at the time of payment.

To find out more , leave us your contact details, and a Treasures Relationship Manager will get back to you.

1 Source: Aviva as at 22 October 2011
2 You will only receive the maturity benefit if you hold the plan to policy maturity. Aviva shall pay you the maturity
   benefit provided the Policy is still in force, and no claims have been made under the Policy for the death benefit.
3 You have the option to receive the payment in the Contract Currency (i.e. RMB) or any other currency made
   available by Aviva (such as Singapore Dollar (“SGD”) or US Dollar (“USD”)), subject to the Prevailing Exchange
   Rate. If you opt to receive the payment in a currency apart from RMB, such payment shall be subject to the
   operational feasibility of offering non-RMB currencies as a choice and currency conversion at the relevant time
   will be done based on the Prevailing Exchange Rate that is to be determined by Aviva and is subject to Aviva’s
   terms, conditions and guidelines, and the prevailing laws, regulatory policies or other statutory requirements
   applicable at the material time. If you opt to receive payment in RMB, please note that Aviva’s ability to make
   payment in RMB may be affected by the occurrence of any event, including change in prevailing laws,
   regulatory policies or other statutory requirements.
4 115.09% of Single Premium amount in RMB terms.
5 This is calculated on a single premium amount of RMB 250,000.
6 Death benefit of 101% of single premium amount or cash surrender value (in RMB terms), whichever is higher.
7 The Policy Maturity date is 5 years from the Policy Effective Date, which is stated in your Policy Schedule. The
   maturity benefit is payable by Aviva within 5 business days from the Policy Maturity date.
8 If the policy is held to the maturity of 5 years.