Citibank and Sino-US MetLife announced the launch of an RMB-denominated insurance offering in Beijing, Guangzhou and Shenzhen, the Young Saver Growth Protection Plan.
This new product has been the first RMB-denominated investment-linked insurance with regular premium for children in these three cities and designed especially to meet the needs of Citibank customers. The Young Saver Growth Protection Plan features long-term protection for children aged 30 days to 17 years old. It not only sets up traditional protection insurance account, but also is equipped with investment accounts. By investing this product, customers can both better prepare financially for their children's education and growth as well as safeguard them with life protection.
Gary Ang, head of sales and distribution for north and west region for Citi China said, "Citibank aims to ultimately look after all the wealth management needs of our customers over their entire life cycle. The launch of this new offering provides our customers with a new means of helping them achieve their financial goals in relation to their children and at the same time optimize their own investment potential."
The Young Saver Growth Protection Plan of MetLife was designed only for Citibank's clients, and also sold by Citibank.