Opportunities in life changes every day. Individuals, family or even external economic environment can affect your level of financial ambition.Therefore, you need a life insurance plan that flexibly accommodates the development in your life at different stages. We sincerely present MyWealth Savings Insurance Plan (Premier) (“this Plan” or “the Plan”) for you to make discerning choices, the Plan's "Wealth Accumulation Switching Option"1 allows flexible change among the 3 Switching Options to cater your needs and gives you greater control in wealth management. Other special features such as "Currency Switching Option"2,3, "Policy Split Option"4, and "Dual Succession" etc. allow you to strategize from wealth accumulation to asset allocation.

Key Benefits of this Plan:

Wealth Accumulation Switching Option1

To cater your various financial needs and investment preferences at different life stages, this Plan features the “Wealth Accumulation Switching Option”1, which included 3 Switching Options - "Advance"^, "Balanced" and "Conservative". Each option is equipped with different ratio of “Stable Asset Account”5 value to the cash value of Reversionary Bonus12(if any) and cash value of Terminal Bonus13 (if any), allowing you to make flexible switching.

 

On the 15th policy anniversary and every policy anniversary thereafter, and while the policy is in force, you can apply to exercise this option to allocate the portfolio ratio of (i) the value of “Stable Asset Account”5(if any) and (ii) the cash value of non-guaranteed Reversionary Bonus12 and non-guaranteed Terminal Bonus13 (if any). The value in “Stable Asset Account”5 will accumulate with interest at the non-guaranteed interest rate determined by the Company from time to time. You can also withdraw the accumulated value from your account at any time.

 

^The Switching Option is pre-set as “Advance” upon policy issuance until the first-time exercise of “Wealth Accumulation Switching Option”1.

Currency Switching Option2,3

On the 3rd policy anniversary and any policy anniversary thereafter and while the policy is in force, you can apply to exercise “Currency Switching Option”2,3, changing the policy currency of the basic plan of the policy to a different currency on the policy anniversary without any evidence of insurability, which fully accommodates your global wealth management goal.

 

Currency switching is achieved by converting this plan to a designated new plan (“Designated Plan”) with a new policy currency (US dollar, Hong Kong dollar, Chinese yuan, British pound sterling, Euro, Singapore dollar, Australian dollar or Canadian dollar) that is available for your choice upon exercising this option. The Designated Plan will be determined by the Company from time to time and may be different from this Plan. Any rider(s) under the policy will also be changed to the new policy currency provided that such rider(s) is (are) also offered and is (are) available in the new policy currency, otherwise such rider(s) will be automatically terminated when this option takes effect.

Policy Split Option4 achieves independent asset planning with ease

After the end of the 5th Policy Year and while the policy is in force, you can split the existing policy into two, which means the Units of the basic plan under the existing policy will be partially allocated to a separate policy (the “Split Policy”). After exercising Policy Spilt Option, the basic plan of the existing policy will remain in force and the effective date shall remain unchanged. Other policy information and instructions under the Split Policy will be the same as the basic plan of the existing policy except Unit, total premiums paid14, Guaranteed Cash Value, face value and cash value of Reversionary Bonus12 and Terminal Bonus13 (if any), accumulated value of Stable Asset Account5 (if any) and future premium.

 

After split, you can change other policy options or instructions at any time. Moreover, you can exercise Policy Split Option4 once per Policy Year. Policy Split Option4 is also applicable to the Split Policy, maximizing the power of asset allocation.

Guaranteed Cash Value, non-guaranteed Reversionary Bonus12 and non-guaranteed Terminal Bonus13

In addition to the increases of Guaranteed Cash Value over the policy years, starting from the 1st policy anniversary, the Plan declares non-guaranteed Reversionary Bonus12 annually and non-guaranteed Terminal Bonus13 at least annually, allowing you to earn potential long-term return (please refer to At-a-Glance Table for details of non-guaranteed Reversionary Bonus12 and non-guaranteed Terminal Bonus13 ).
Guaranteed Cash Value The Plan provides Guaranteed Cash Value to grow your wealth continuously. Please refer to the Policy Provisions for details of “Cash Values”.
Non-guaranteed Reversionary Bonus12 A non-guaranteed Reversionary Bonus12 may be declared from the Policy Year determined by the Company and at each subsequent policy anniversary under the Plan, provided that all premiums due have been paid up to each relevant policy anniversary and no Premium Holiday has ever been taken effect (if applicable). Non-guaranteed Reversionary Bonus12 and its amount may be declared at the sole discretion of the Company. Once declared, the declared face value of Reversionary Bonus12 will become guaranteed and forms a permanent addition to the policy, whereas the cash value is not guaranteed. The accumulated cash value of Reversionary Bonus12 (if any) can be withdrawn or the face value of Reversionary Bonus12 can be accumulated continuously in the policy.
Non-guaranteed Terminal Bonus13 A non-guaranteed Terminal Bonus13 may be declared from the Policy Year determined by the Company. Non-guaranteed Terminal Bonus13 and its amount may be paid at the sole discretion of the Company. A non-guaranteed Terminal Bonus13 will not be accumulated in the policy and its amount will be updated in each declaration. Each declaration of non-guaranteed Terminal Bonus13 will be based on a number of factors, including but not limited to investment returns and market volatility, which may be greater or less than the previous amount declared.
In the event of death of the Insured and assumed that Policy Continuation Option has not been exercised, the face value of Reversionary Bonus12 (if any) and face value of Terminal Bonus13 (if any) will be paid along with the death benefit. We will pay the cash value of Reversionary Bonus12 (if any) and Terminal Bonus13 upon policy surrender (full or partially) or policy termination (other than death of the Insured); or transfer the cash value of Reversionary Bonus12 (if any) and Terminal Bonus13 to the Stable Asset Account5 when you exercise the Wealth Accumulation Switching Option1. These cash values and face values may not be equalised.

Dual Succession for passing on legacy to next generations

Unlimited changes of Insured6 and protection of new Insured up to age 128, pass on wealth to your next generations infinitely
After the 6th policy monthly anniversary, you may change the Insured for unlimited times6. The coverage period will be adjusted to age 128 of the new Insured (“Changed New Insured”), allowing the policy to have sufficient time for wealth accumulation and can be passed on to the next generations.

 

Policy Continuation Option (to the Beneficiary)7
Apart from unlimited changes of Insured6 , the Plan specially provides “Policy Continuation Option”7 . While the Insured is alive and the policy is in force, the Policy Owner can assign a Beneficiary. Upon the death of the Insured, the Beneficiary will become the new Policy Owner (if applicable) and the new Insured (“Continued New Insured”). Even if the Insured accidentally passes away, the policy can still be passed on to the next generations. The coverage period will also be adjusted to age 128 of the Continued New Insured.

Settlement options for Death Benefit10 or Full Surrender11

Flexible Death Benefit Settlement Option10 to meet your needs
While the Insured is still alive and the policy is in force, the Policy Owner can choose from the following Death Benefit Settlement Options flexibly regarding payment of death benefit to different Beneficiary(ies) in different ways in the unfortunate event of the Insured's death. It allows each Beneficiary to have the most appropriate protection.
i) A lump sum payment; or
ii) Regular installment payment10- Monthly, semi-annually or annually over 10, 20 or 30 years; or
iii) Increasing installment payments10- The Beneficiary can receive a specified amount of first installment of death benefit monthly, semi-annually or annually. Such installments will be increased by 3% each year beginning from the 2nd year until all death benefit and / or accumulated interest15 (if any) are fully paid; or
iv) A lump sum payment for a specified percentage of the death benefit, such percentage must be equal to or more than 5% of the death benefit, and the remaining will be paid by regular installment payments10.
For death benefit to be paid to the Beneficiary(ies) at regular installment or increasing installment payments, the remaining amount of death benefit (after deduction of a lump sum payment of a certain percentage of the death benefit, if applicable) must be at least USD 50,000 / HKD 400,000 / CNY 350,000. The amount of death benefit which is yet to be paid under the Death Benefit Settlement Option can also earn an interest15 (if any).

 

Full Surrender Settlement Options11
Once the policy has been in force for 5 years, and if the Policy Owner fully surrenders11 the policy. Other than a lump sum payment, the Policy Owner can also choose one of the following options to receive the surrender payment if the surrender payment is at least USD 50,000 / HKD 400,000 / CNY 350,000:
i) Payments at regular11- Monthly, semi-annually or annually over 10, 20 or 30 years; or
ii) Increasing payments11- You can specify the first installment of surrender amount to be received monthly, semi-annually or annually. Such installment will be increased by 3% each year beginning from the 2nd year until all surrender value and / or accumulated interest15 (if any) are fully paid. The amount of the surrender payment which is yet to be paid can also enjoy an interest15 (if any).

Large size discount16 throughout the whole premium payment period(“Large Size Discount”) up to 8.33% realize your dream at ease

You can enjoy up to 8.33% Large Size Discount upon reaching designated premium amount16 (calculation based on each eligible Policy), allowing you to start your wealth and protection plan easily at lower cost. Please refers to the At-a-Glance Table for details of the relevant premiums and premium discount rate.

Premium Holiday8

The Plan offers Premium Holiday8 of up to 2 years (Only applicable to policy in 5-years premium payment period) to provide you with flexibility for your wealth management. You can apply for a Premium Holiday8 on or after the 3rd policy anniversary as long as there is no prepaid premium18 and indebtedness. The premium payment of the next policy anniversary will be suspended, and you do not need to worry about the immediate termination of Policy. During the Premium Holiday8, the face value of non-guaranteed Reversionary Bonus12 will not be declared, but the Units, Guaranteed Cash Value, the face value of accumulated Reversionary Bonus12 (if any) and accumulated value of Stable Asset Account (if any) will remain unchanged.

Premium Waiver9

Accidents or diseases are unforeseeable. Under the following circumstances, we will pay the future premiums of the basic plan to give your beloved ones an extra peace of mind.
1)If the Insured is 18 years old or above9, and is the Policy Owner at the same time, being diagnosed with total permanent disability19 before the age of 75, he or she will entitle to the “Waiver of Premium Benefit”9. We will pay the future premium of the basic plan for you, up to USD 500,000 / HKD 4,000,000 / CNY 3,500,000 until premium end date that is set at the time of policy issuance. It ensures your wealth will not be affected. (Please refers to the At-a-Glance Table for details of the maximum total amount of premium waived.)
2)If the Insured is 17 years old or below9, and the Policy Owner (including Contingent Policy Owner20) dies or is diagnosed with total permanent disability19 before the age of 75, he or she will entitle to the “Payor Benefit”9, and we will pay the future premiums of the basic plan for you, up to USD 500,000 / HKD 4,000,000 / CNY 3,500,000 until premium end date that is set at the time of policy issuance to safeguard your child's future. (Please refers to the At-a-Glance Table for details of the maximum total amount of premium waived.)
Waiver of Premium Benefit9 is subject to designated exclusions. Please refer to the “Key Exclusions Section” and Policy Provisions for more details.

Flexible plan for your financial needs

MyWealth Savings Insurance Plan (Premier) offers the options of premium payment periods of 2 and 5-year, you may choose to prepay the premium18 by lump sum payment, thereby enjoying the benefit of paying up the Plan at a lower cost. Interest15(if any) will also be earned on the prepaid premium18.

No medical underwriting – hassle-free application

The application process of basic plan is simple, and no medical check-up is required, this allows you to accumulate wealth with ease.

Free worldwide emergency assistance service21

Once enrolled in this Plan, the Insured will have access to free 24-hour worldwide emergency assistance for immediate support wherever he/she may be. The maximum benefit (per incident) reaches up to USD 1,000,000, including services of emergency evacuation or repatriation and delivery of mortal remains. For details, please refer to related documents.
Calculate your Returns Now:

Age
0 Years Old
Sex M F
Policy Currency USD CNY HKD
Annual Premium
10,000 USD
Premium Payment Period 2 Years 5 Years
Overview of your Returns:

Policy Currency:USD
Total Premium Paid20,000USD
Insured Age:  Year Old
Guaranteed Cash Value

Total Bonuses

Face Value
Cash Value
Surrender Value
Profit
Total Death Benefit
At the end of the 1 Policy Year
Drag the button to review the performance at different policy year

1.The above values assume that all premiums are paid in full when due and no policy options nor Premium Holiday have been exercised.

2.Calculation of Profit is based on Surrender Value minus Total Premiums Paid (excluded any Premium Prepayment Interest(if any)).

3.Above calculations are for reference only, please contact your financial consultant to have an official illustration proposal.

Statement

1.The above summary, result of calculation and information is for reference only and does not constitute financial, investment or taxation advice or advice of whatsoever kind. You shall seek professional advice from your independent advisors if you find it necessary. The calculation result shown here may be different from the result of our underwriting assessment. You should refer to the policy provisions of the relevant product(s) for their full terms and conditions, including without limitation, the exclusion clause.

2.The above summary, result of calculation and information is intended to be issued in Hong Kong only and shall not be construed as an offer to sell, or solicitation to buy or provision of any product of Chow Tai Fook Life Insurance Company Limited outside Hong Kong to any person. Chow Tai Fook Life Insurance Company Limited hereby declares that it has no intention to offer to sell, to solicit to buy or to provide any of its product in any jurisdiction other than Hong Kong in which such offer to sell or solicitation to buy or provision of any product of Chow Tai Fook Life Insurance Company Limited is illegal under the laws of that jurisdiction.

3.In case of any disputes, Chow Tai Fook Life Insurance Company Limited reserves the rights to make the final and conclusive decision.