Educational and Retirement savings offered with guaranteed payouts

9 April 2009, United Arab Emirates - Standard Chartered Bank offers the new 'Life Builder Plan' in the UAE provided by the American Life Insurance Company (ALICO).  The Plan offers regular saving insurance plans with guaranteed payouts and caters to a diverse range of financial needs including children's education, retirement and an additional savings plan.  

The Child Education Plan provides a guaranteed regular payout to fund college expenses with various contribution terms and allows the owner to select the child's college entry age.  The Retirement plan pays a guaranteed regular pension payout beginning from the customers' selected age of retirement up till age 99. On the Retirement Plan, the customer contributes regularly from the date of entry through to his selected retirement age.

Commenting on the launch, Chris de Bruin, Head of Consumer Banking, Standard Chartered UAE said, "This is an exciting opportunity for Standard Chartered to broaden the core range of products we provide to our customers which allows us to participate in the future growth of the country's long term savings market.  The introduction of this product is part of the larger consumer banking concept that Standard Chartered has created specifically for its customers.  It also provides customers with a savings solution without them being exposed to the high volatility of the current financial markets."

Mario Valdes, General Manager, American Life Insurance Company - Gulf said, "Together with Standard Chartered Bank, we remain committed to meet the consumers' needs and provide them with a wide range of insurance and savings solutions, catering and responding to the changing marketplace conditions and the varied customers' needs."

The ALICO Life Builder Plan is a new addition to the wealth management product suite distributed by Standard Chartered. Benefits are subject to the terms, conditions and exclusions of the policy issued by ALICO.  Further information is available at any of the 11 Standard Chartered branches across the UAE.

-Ends-

About Standard Chartered
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.

Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has over 1600 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.

Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs more than 70,000 people, nearly half of whom are women. The Group's employees are of 125 nationalities, of which 68 are represented among senior management.

For more information, please visit: www.standardchartered.com

About American Life Insurance Company
American Life Insurance Company (ALICO), is one of the largest international life insurance companies in the world. ALICO's branches and subsidiaries market a wide range of life and health insurance products, including traditional, variable universal and credit life insurance, as well as supplemental medical and personal accident products, health and hospitalization insurance, group life, pensions and annuities through a variety of channels. The company operates in more than 55 countries and regions around the world including Japan, Europe, the Middle East, South Asia, Latin America and the Caribbean.

For more information, please visit: www.alico.com/uae.

For more information, contact: 
Sam Gad
Media Relations and Communications
Standard Chartered MENA
T: +971 4 508 5916
M: +971 50 900 7141 
Email: Sam.Gad@sc.com

Patricia Bentham
Head, Communication Management,
Standard Chartered MENA
T: +971 4 508 2772
M: +971 50 654 8287
Email: Patricia.Bentham@sc.com

© Press Release 2009