BNP Paribas Cardif Life Insurance boosts (NP) Grand Prix Variable Universal Life Insurance IV with new US funds - BNP Paribas South Korea
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August 19, 2013 -

BNP Paribas Cardif Life Insurance boosts (NP) Grand Prix Variable Universal Life Insurance IV with new US funds

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BNP Paribas Cardif Life Insurance, the Korean subsidiary of BNP Paribas Cardif, the insurance arm of BNP Paribas, announces that it has further diversified the portfolio of (NP) Grand Prix Variable Universal Life Insurance IV (Grand Prix VUL IV) by adding US Fund of Funds, Global Dividend Income Fund of Funds and Global High Yield Bond Fund of Funds. These funds target profit following the recovery of the global economy and the growth of global companies.

The U.S stock market has showed stellar performance since the beginning of the year and has displayed an upward track thanks to the recovery of the real estate market, the rise in individual consumptions, and the strong US dollar. In response to these positive signs, investors are increasingly drawn to the more favorable investment environment in the US market.

To capitalise on the latest market changes, BNP Paribas Cardif Life Insurance has added US Fund of Funds, which invests in the US market,to Grand Prix VUL IV. It has also added Global Dividend Income Fund of Funds and Global High Yield Bond Fund of Funds that invest in foreign stocks and high yield foreign bonds issued by global corporations, offering more choices to the clients so as to fulfill their investment targets and risk appetite.

Mr. Byung Uk Lee, Chief Marketing Officer of BNP Paribas Cardif Life Insurance, said: Grand Prix VUL IV is a product well-suited for retirement planning, as it offers benefits such as flexible fund switching, tax-exemption, and convertibility into an annuity plan. As policyholders can also select the funds that are added after policy subscription, they can more effectively manage the profitability by switching funds amid different market conditions. We will continue to add different new funds to the VUL products when the timing is right, so as to help our clients seize the best investment opportunities.”

Grand Prix VUL IV’s portfolio is comprised of 12 foreign investment funds, including the 3 newly added funds (US Fund of Funds, Global Dividend Income Fund of Funds and Global High Yield Bond Fund of Funds) and six local investment funds. In addition, Grand Prix VUL IV, offers a pioneering daily averaging function which hedges investment risk by putting money into funds on a daily basis. For such an innovative approach which is the first in the industry, BNP Paribas Cardif has acquired the exclusive sales right from the Korea Life Insurance Association in March.

The detailed information of the product and subscription can be obtained from BNP Paribas Cardif Life Insurance’s five bancassurance partners: Citibank Korea, Korea Exchange Bank, Hanwha Investment & Securities, HMC Investment Securities and KDB Daewoo Securities.

Contact: Hae Yeun PARK
Tel: 02-3788-8844 / Mobile: 010-2047-5719
Email: haeyeun.park@cardif.co.kr