Huize Partners with Hongkang Life to Launch “Jin Man Yi Zu No.5”: A Customized Retirement Annuity Insurance Product
October 17 2023 - 5:00AM
Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ:
HUIZ), a leading digital insurance product and service platform for
new generation consumers in China, today announced that it has
partnered with Hongkang Life Insurance Co., Ltd. (“Hongkang Life
Insurance”) to launch “Jin Man Yi Zu No.5”, a customized retirement
annuity insurance product. This new addition to the “Jin Man Yi Zu”
series combines family wealth management with retirement planning.
“Jin Man Yi Zu No.5” is distinguished by three key points: i)
high return: the cash value and annuity payout are specified in the
insurance contract, with options for a 10-year or 20-year payout
period; ii) substantial flexibility: customers have options to
choose the annuity payout commencement date, payout methods, and
payout period, with coverage available up to age 106; and iii) low
eligibility threshold: no health declaration required, no
occupational exclusions, and the minimum annual premium is
RMB1,000.
Mr. Cunjun Ma, Founder, Chairman, and Chief Executive Officer of
Huize, commented, "According to ‘2022 China Young and Middle-aged
Elderly Care Maturity Survey Report’ jointly released by CITIC
Securities and Renmin University of China, 87.48% of the
respondents aged 26-35 consider it is necessary or are already
building up pension reserves. China’s young and middle-aged savers
choose commercial retirement insurance products as their preferred
option for retirement planning. To meet this significant demand in
the market, we are proud to announce the latest addition to Huize’s
flagship ‘Jin Man Yi Zu’ series, which has served over 55,000
customers since its inception. As we step into the era of ‘Huize
Customized Products 3.0’, we are committed to offering specialized
products that meet the diversified needs of our users. ‘Jin Man Yi
Zu No.5’ is another strong testament to our ability to leverage
in-depth customer insights to create leading products, and we
believe this offering will help our customers achieve their future
retirement planning goals.”
About Hongkang Life Insurance Co., Ltd
Founded in 2012, Hongkang Life Insurance Co., Ltd. is a
nationwide life insurance company approved by the China Insurance
Regulatory Commission with a registered capital of RMB1 billion. It
recorded total assets of over RMB80 billion and served more than 7
million customers by the end of 2022.
For more information, please visit
https://www.hongkang-life.com.
About Huize Holding Limited
Huize Holding Limited is a leading digital insurance product and
service platform for new generation consumers in China. Targeting
the younger generation, Huize is dedicated to serving its insurance
clients for their life-long insurance needs. Leveraging its online
platform, Huize offers a wide variety of insurance products with a
focus on long-term life and health insurance products and empowers
its insurer partners to reach a large fragmented client base in the
insurance retail market efficiently and enhance their insurance
sales. Huize provides insurance clients with digitalized insurance
experience and services, including suitable product
recommendations, consulting service, intelligent underwriting, and
assistance in claim application and settlement, which significantly
improve transaction experience.
For more information, please visit http://ir.huize.com.
For investor and media inquiries, please
contact:
Investor RelationsHarriet HuInvestor Relations
Director+852 3180 9207investor@huize.com
Media Relationsmediacenter@huize.com
Christensen In ChinaMs. Crystal LaiPhone: +852
2117 0861Email: crystal.lai@christensencomms.com
In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email:
linda.bergkamp@christensencomms.com
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