ASLIC's Variable Individual Annuity Product to Be Offered at SMBC
February 19, 2010
AEGON Sony Life Insurance Co., Ltd. ("ASLIC"), a 50%-owned equity method affiliate of Sony Life Insurance Co., Ltd., today announced the conclusion of a business agency agreement with Sumitomo Mitsui Banking Corporation ("SMBC"). This tie-up will enable ASLIC to commence sale of variable individual annuity product called My History, through the head office and branch offices of SMBC from February 22, 2010.
Going forward, in its role as an expert provider of annuity insurance, ASLIC aims to offer high-quality annuity products and services, and to build solid trust-based relationships with its customers. ASLIC strives to meet the diverse needs of customers through over-the-counter sales channels of SMBC which has a corporate philosophy of "providing optimum added value to its customers."
About My History
(Variable Individual Annuity (GLWB Type))
Policyholders are eligible to receive annuity payments from investments in the separate account assets for their entire life.
This product provides a minimum guarantee that policyholders will receive an amount equivalent to a lump sum premium payment, as a death benefit before annuity payments begin, or as the total amount received from annuity and lump sum death payments after the annuity payments begin. This product also includes a fixed minimum guarantee on the surrender value five or more years after the policy effective date.
Note: This is an English-language summary of a Japanese announcement made by ASLIC on February 19, 2010. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.
