Key Benefits of this Plan：
Up to 6.82%^ Annual Return to Accelerate Wealth Accumulation
This plan distributes annual dividend1 starting form the first policy anniversary. You may leave it in the policy to accumulate over time. Terminal dividend1 will be offered if the policy is surrendered or reaches its maturity, or in the unfortunate event of death of the insured, to further boost you wealth.
Unlimited changes of insured and protection of new insured up to age 1282
After the first policy anniversary, you may change the insured for unlimited times2. The coverage period will be adjusted to the 128th birthday of the new insured. Policy value would have sufficient time for wealth accumulation and can be passed on to the next generations infinitely.
Policy Continuation Option3, let the policy continue to pass on
During the lifetime of the Insured, the Policyowner can assign a Beneficiary. Upon the death of the Insured, the Beneficiary will become the new Policyowner and/ or new Insured. Even if the insured has any accident, the policy can be passed on to the next generations. The coverage period will be adjusted to the 128th birthday of the new insured.
Lock In Terminal Dividend4 to against Market Volatility
You can choose to apply for Automatic Lock In Option or Manual Lock In Option to convert and accumulate your terminal dividend1 in the form of annual dividends1 or withdraw it in times of need. The converted terminal dividend1 will become guaranteed and bring you a stable return. Terminal dividend1 which has been converted into annual dividends1 can also earn interest. Please refers to the product brochure for details.
Whole Life Death Benefit and Full Surrender with Flexible Settlement Options5
In the unfortunate event of the death of the insured, we will pay a death benefit of up to 110% of total premiums paid6, plus accumulated annual dividends and interest1 (if any) for your peace of mind. Please refers to the product brochure for details.
While the insured is still alive, the policyowner can choose one of the following options regarding payment to the beneficiary of death benefit for their future in the unfortunate event of the insured’s death: i) A lump sum payment; or ii) Regular payments5 – monthly, semi-annually, or annually over 10, 20, or 30 years; or iii) A lump sum payment for part of the death benefit and the remaining will be paid on a regular basis5.
For benefit to be paid to the beneficiary(ies) at regular intervals, the remaining of death benefit (after deduction of a lump sum payment of a certain percentage of the death benefit is paid out, if applicable) must be equal to or more than USD 50,000. The amount of death benefit which is yet to be paid under the death benefit settlement option can also earn interest8.
Once the policy has been in force for 5 years, and if the policyowner fully surrender the policy, he or she can choose to receive a lump sum payment7 or receiving surrender payment5 at regular intervals. This option is only available if the surrender payment is equal to or more than USD 50,000. The amount of surrender payment that is yet to be paid can enjoy an interest8.
Premium Holiday9 to Match Your Financial Planning
This plan offers premium holiday9 of up to 4 years. You can apply for a premium holiday9 on or after the 3rd policy anniversary as long as there is no prepaid premium 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. Please refers to the product brochure for details.
This plan offers “Waiver of Premium Benefit”10 and “Payor Benefit”10. We will pay the future premiums of the basic plan for you, up to USD 500,000 (maximum total amount of premium waived depends on premium payment period, please refer to the product brochure for details) if you are not able to pay the premium due to the unfortunate event. Please refers to the product brochure for details.
No Medical Underwriting with Multiple Premium Payment Period Options
The application process of basic plan is simple, and no medical check-up is required, this allows you to accumulate wealth with ease. And it offers the options of premium payment periods of 2, 5 and 10 years. If you have opted for a 2-year or 5-year premium payment period, you may choose to pay by lump sum payment, thereby enjoying the benefit of paying up the plan earlier at a lower cost. Interest will also be earned on the prepaid premium11.
Remark
Remarks:
^ This return is calculated upon policy maturity (ie：end of the 128th policy year). Assumed that insured issue age is 0, 2-year premium payment period (USD600,000 total premium), with no partial surrender made or any dividend withdrawal.
1．Annual dividend, terminal dividend and interest from accumulated annual dividend are not guaranteed. However, once distributed, the amount of the annual dividend and the accumulated interest will become guaranteed. An annual dividend may be payable at the sole discretion of the company on each policy anniversary after this policy has been in force for a minimum of 1 policy year and provided that all premiums due have been paid up to each relevant policy anniversary. The amount of terminal dividend in each declaration may be greater or lesser than the previous amount based on a number of factors, including but not limited to investment returns and general market volatility.
2．Changing the Insured is subject to the prevailing administrative rules. It will not affect the units, policy values and policy year, and maturity date will be changed to 128 years old of the new insured. The new insured must be aged between 15 days and 65 years of age (last birthday) and must not be older than the initial Insured by 10 years. The change of Insured must be endorsed by the policyowner, Insured and assignee (if any). Both the new insured and the current Insured must be alive at the time the Insured is changed. Following the change of the Insured, all riders (if any) of the previous Insured will be terminated. Riders attached to this policy can be re-attached after the change of Insured, however, the premium and approval should be subject to rider application at that time. Please refer to the policy provisions for details of changing the Insured.
3．Upon the death of Insured, if the Policyowner (still alive) and the Insured is different person, the Beneficiary will become the new insured. If the Policyowner and the Insured is the same person or the Policyowner died, upon the death of Insured, the Beneficiary will become the new Policyowner and new insured of the policy, subject to the prevailing administrative rules of the Company. After this option has been exercised, all policy values and policy year will remain unchanged. The policy value may be equal to or lower than death benefit before this option has been exercised. However, any rider(s) attached to this basic plan will be terminated at the same time. Rider(s) attached to this basic plan can be re-attached after Policy Continuation Option has been exercised. However, it will be subject to our approval and the premium rate at the time of such request. This option is not available for the policy with payment(s) of all or partial death benefit on a regular basis being selected. Please refer to the policy provisions for details of Policy Continuation Option.
4．You can apply changes between options for unlimited times before exercising the Terminal Dividend Lock In Options. Once the option has been exercised, no change can be made. The actual amount of converted Terminal Dividend through “Manual Lock In Option” will be determined after the application is approved. The amount may be lesser or higher than the amount shown at the time when you submit your application. After the conversion of terminal dividend, your future terminal dividend will be reduced accordingly. All terminal dividend not yet be converted can be higher or lower or reduced to zero. While the “Automatic Lock In Option” is in force, the option will be immediately suspended upon partial surrender, and you have to submit a request to resume the option.
5．If the policyowner opts for the beneficiary to receive “a lump sum payment for part of the death benefit, and the remaining will be paid on a regular basis”, the lump sum amount should equal to or greater than 5% of the death benefit. However, interest on unpaid death benefit is not guaranteed, therefore interest may be less than expected and the actual payout period may be shorter than the selected period. Only lump sum death benefit is applicable if an assignment is made. If the beneficiary(ies) die(s) while receiving the regular death benefit payments, the remaining amount will be paid to the beneficiary(ies)’ estate. If no beneficiary(ies) survives the insured and the policyowner is still alive, the death benefit will be paid to the policyowner in accordance with the death benefit settlement option. Policyowner may also request to receive the death benefit in lump sum. If the policyowner dies while receiving the regular death benefit payment, the remaining death benefit will be paid in a lump sum to the policyowner's estate. This option is not available for the policy with Policy Continuation Option being selected.
6．Total premiums paid refers to the total amount of premium(s) due and paid for the basic plan. For policy with premium prepayment, the premium prepayment in premium deposit account will not be calculated in the total premiums paid.
7．Upon full surrender, the policyowner may choose to receive surrender payment in a fixed amount on a regular basis. However, interest on unpaid surrender payment is not guaranteed, therefore interest may be less than expected and the actual payout period may be shorter than the selected period. If the policyowner dies while receiving the regular death benefit payments, the remaining surrender payment will be paid in lump sum to the policyowner’s estate.
8．The current interest rate offered is 2% p.a., but it is not guaranteed.
9．The length of a premium holiday for each application should be a multiple of 1 year until it reaches the maximum limit. Premium holiday is only applicable to the basic plan and will be effective on the next policy anniversary, but all riders attached to the policy will be terminated at the same time. Riders attached to this policy can be re-attached after Premium Holiday, however, the premium and approval should be subject to rider application at that time. During the premium holiday, you do not need to pay premiums for the basic plan, the units and guaranteed cash value will remain unchanged during the period, but the terminal dividend is non-guaranteed. During the premium holiday, we will not distribute any annual dividends, but the accumulated annual dividends and interest (if any) will continue to accumulate with interest at a rate of 4.25% (this interest rate is not guaranteed and will be adjusted from time to time) per annum. Premium Holiday is not applicable to policy with 2-year premium payment period. Please refer to the policy provisions for details of Premium Holiday.
10．There are 2 types of Premium Waivers:
(a) “Waiver of Premium Benefit” is applicable to the insured whose age at policy issuance or the change of insured is between 18 and 60 and is the policyowner at the same time, and is diagnosed with total permanent disability before the age of 75.
(b) “Payor Benefit” is applicable to the insured of the age 17 or below; the policyowner (including contingent policyowner) whose age at policy issuance or the change of the policyowner (including contingent policyowner) is at the age of 60 or below, and dies or is diagnosed with total permanent disability before the age of 75.
After the waived premium of the basic plan reaches the maximum total amount of premium waived (per insured) and/or until the premium end date that is set at the time of policy issuance, the policyowner should pay the remaining premium; otherwise, the automatic premium loan will be applied, or the policy will be terminated. The premium paid after the date of death or the date of diagnosis of total permanent disability will be fully refunded (with no interest). If the incident is resulted from accident, immediate protection will be given. If a person dies or is diagnosed with total permanent disability due to illness, a 2-year waiting period is required. Please refer to the policy documents for details of “Waiver of Premium Benefit” and “Payor Benefit”.
Total Permanent Disability refers to any of the following that results from an Illness or Injury: (i) the total and irrecoverable Loss of Sight of both eyes; or (ii) the complete and Permanent Paralysis of two limbs or actual severance at or above wrist or ankle of two limbs; or (iii) total and irrecoverable Loss of the Sight of one eye and either the complete and Permanent Paralysis of one limb or actual severance at or above wrist or ankle.
11．The premium prepayment option is only applicable to policy with 2-year and 5-year premium payment period and annual premium payment mode. The prepaid premium will be credited to your premium deposit account and accumulate at the prevailing interest rate offered at that time (The current interest rate offered is 2% per annum, but it is not guaranteed). You can withdraw the full amount of the prepaid premiums from the premium deposit account. However, any interest credited will be forfeited. If the amount of the premium deposit account is not sufficient to pay the premium due to a decrease in interest rate, the policyowner is required to make up the relevant premium difference. Otherwise, the policy will be terminated or subject to an automatic premium loan. If the insured passes away, the premium deposit account balance (if any) will be payable to the policyowner without any charge.
^ This return is calculated upon policy maturity (ie：end of the 128th policy year). Assumed that insured issue age is 0, 2-year premium payment period (USD600,000 total premium), with no partial surrender made or any dividend withdrawal.
1．Annual dividend, terminal dividend and interest from accumulated annual dividend are not guaranteed. However, once distributed, the amount of the annual dividend and the accumulated interest will become guaranteed. An annual dividend may be payable at the sole discretion of the company on each policy anniversary after this policy has been in force for a minimum of 1 policy year and provided that all premiums due have been paid up to each relevant policy anniversary. The amount of terminal dividend in each declaration may be greater or lesser than the previous amount based on a number of factors, including but not limited to investment returns and general market volatility.
2．Changing the Insured is subject to the prevailing administrative rules. It will not affect the units, policy values and policy year, and maturity date will be changed to 128 years old of the new insured. The new insured must be aged between 15 days and 65 years of age (last birthday) and must not be older than the initial Insured by 10 years. The change of Insured must be endorsed by the policyowner, Insured and assignee (if any). Both the new insured and the current Insured must be alive at the time the Insured is changed. Following the change of the Insured, all riders (if any) of the previous Insured will be terminated. Riders attached to this policy can be re-attached after the change of Insured, however, the premium and approval should be subject to rider application at that time. Please refer to the policy provisions for details of changing the Insured.
3．Upon the death of Insured, if the Policyowner (still alive) and the Insured is different person, the Beneficiary will become the new insured. If the Policyowner and the Insured is the same person or the Policyowner died, upon the death of Insured, the Beneficiary will become the new Policyowner and new insured of the policy, subject to the prevailing administrative rules of the Company. After this option has been exercised, all policy values and policy year will remain unchanged. The policy value may be equal to or lower than death benefit before this option has been exercised. However, any rider(s) attached to this basic plan will be terminated at the same time. Rider(s) attached to this basic plan can be re-attached after Policy Continuation Option has been exercised. However, it will be subject to our approval and the premium rate at the time of such request. This option is not available for the policy with payment(s) of all or partial death benefit on a regular basis being selected. Please refer to the policy provisions for details of Policy Continuation Option.
4．You can apply changes between options for unlimited times before exercising the Terminal Dividend Lock In Options. Once the option has been exercised, no change can be made. The actual amount of converted Terminal Dividend through “Manual Lock In Option” will be determined after the application is approved. The amount may be lesser or higher than the amount shown at the time when you submit your application. After the conversion of terminal dividend, your future terminal dividend will be reduced accordingly. All terminal dividend not yet be converted can be higher or lower or reduced to zero. While the “Automatic Lock In Option” is in force, the option will be immediately suspended upon partial surrender, and you have to submit a request to resume the option.
5．If the policyowner opts for the beneficiary to receive “a lump sum payment for part of the death benefit, and the remaining will be paid on a regular basis”, the lump sum amount should equal to or greater than 5% of the death benefit. However, interest on unpaid death benefit is not guaranteed, therefore interest may be less than expected and the actual payout period may be shorter than the selected period. Only lump sum death benefit is applicable if an assignment is made. If the beneficiary(ies) die(s) while receiving the regular death benefit payments, the remaining amount will be paid to the beneficiary(ies)’ estate. If no beneficiary(ies) survives the insured and the policyowner is still alive, the death benefit will be paid to the policyowner in accordance with the death benefit settlement option. Policyowner may also request to receive the death benefit in lump sum. If the policyowner dies while receiving the regular death benefit payment, the remaining death benefit will be paid in a lump sum to the policyowner's estate. This option is not available for the policy with Policy Continuation Option being selected.
6．Total premiums paid refers to the total amount of premium(s) due and paid for the basic plan. For policy with premium prepayment, the premium prepayment in premium deposit account will not be calculated in the total premiums paid.
7．Upon full surrender, the policyowner may choose to receive surrender payment in a fixed amount on a regular basis. However, interest on unpaid surrender payment is not guaranteed, therefore interest may be less than expected and the actual payout period may be shorter than the selected period. If the policyowner dies while receiving the regular death benefit payments, the remaining surrender payment will be paid in lump sum to the policyowner’s estate.
8．The current interest rate offered is 2% p.a., but it is not guaranteed.
9．The length of a premium holiday for each application should be a multiple of 1 year until it reaches the maximum limit. Premium holiday is only applicable to the basic plan and will be effective on the next policy anniversary, but all riders attached to the policy will be terminated at the same time. Riders attached to this policy can be re-attached after Premium Holiday, however, the premium and approval should be subject to rider application at that time. During the premium holiday, you do not need to pay premiums for the basic plan, the units and guaranteed cash value will remain unchanged during the period, but the terminal dividend is non-guaranteed. During the premium holiday, we will not distribute any annual dividends, but the accumulated annual dividends and interest (if any) will continue to accumulate with interest at a rate of 4.25% (this interest rate is not guaranteed and will be adjusted from time to time) per annum. Premium Holiday is not applicable to policy with 2-year premium payment period. Please refer to the policy provisions for details of Premium Holiday.
10．There are 2 types of Premium Waivers:
(a) “Waiver of Premium Benefit” is applicable to the insured whose age at policy issuance or the change of insured is between 18 and 60 and is the policyowner at the same time, and is diagnosed with total permanent disability before the age of 75.
(b) “Payor Benefit” is applicable to the insured of the age 17 or below; the policyowner (including contingent policyowner) whose age at policy issuance or the change of the policyowner (including contingent policyowner) is at the age of 60 or below, and dies or is diagnosed with total permanent disability before the age of 75.
After the waived premium of the basic plan reaches the maximum total amount of premium waived (per insured) and/or until the premium end date that is set at the time of policy issuance, the policyowner should pay the remaining premium; otherwise, the automatic premium loan will be applied, or the policy will be terminated. The premium paid after the date of death or the date of diagnosis of total permanent disability will be fully refunded (with no interest). If the incident is resulted from accident, immediate protection will be given. If a person dies or is diagnosed with total permanent disability due to illness, a 2-year waiting period is required. Please refer to the policy documents for details of “Waiver of Premium Benefit” and “Payor Benefit”.
Total Permanent Disability refers to any of the following that results from an Illness or Injury: (i) the total and irrecoverable Loss of Sight of both eyes; or (ii) the complete and Permanent Paralysis of two limbs or actual severance at or above wrist or ankle of two limbs; or (iii) total and irrecoverable Loss of the Sight of one eye and either the complete and Permanent Paralysis of one limb or actual severance at or above wrist or ankle.
11．The premium prepayment option is only applicable to policy with 2-year and 5-year premium payment period and annual premium payment mode. The prepaid premium will be credited to your premium deposit account and accumulate at the prevailing interest rate offered at that time (The current interest rate offered is 2% per annum, but it is not guaranteed). You can withdraw the full amount of the prepaid premiums from the premium deposit account. However, any interest credited will be forfeited. If the amount of the premium deposit account is not sufficient to pay the premium due to a decrease in interest rate, the policyowner is required to make up the relevant premium difference. Otherwise, the policy will be terminated or subject to an automatic premium loan. If the insured passes away, the premium deposit account balance (if any) will be payable to the policyowner without any charge.
Calculate your Returns Now：
Overview of your Returns：
Policy Currency : USD
Total Premium Paid : 20,000USD
Total Premium Paid : 20,000USD
| Insured Age: Year Old | |
| Total Cash | |
| Guaranteed Cash Value | |
| Total Dividend | |
| Profit | |
| Total Death Benefit | |
At the 1st Policy Year
Drag the button to review the performance at different policy year
*Maximum total amount of premium waived will be subject to the Premium Payment Period, please refers to product brochure for details.
^(1) The total premiums paid of the basic plan is the total amount of premiums due and paid for the basic plan up to the date of the insured's death. If the prepayment option was selected, prepaid premiums in the premium deposit account will not be counted as total premiums paid.
^(2) The above values assume that all premiums are paid in full when due and no Terminal Dividend Lock In Option and Premium Holiday have been exercised.
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.
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