NY LifeƆs life plan

New York Life taps continued interest in guaranteed funds.

New York Life Insurance has launched a new guaranteed savings plan aiming to take advantage of current economic uncertainties. The 'Value SAVings' LIFEPlan offers variable maturity lengths, guaranteed returns and insurance protection.

Kendy Wong, deputy CEO CFO of New York Life in Hong Kong, says, Influenced by the flagging economy and the uncertain investment environment, people have become more prudent in managing their finances. They tend to invest in vehicles of low risks and stable returns.

According to the Hong Kong Investment Funds Association, he adds, the total gross sales of various investment funds in 2002 increased by 34% compared with 2001. Among them, capital guaranteed funds and guaranteed...

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