- Short Premium Payment Term2 with 20-Year Life Protection
- Premium Prepayment Arrangement3 to Build Your Wealth with Ease
- Additional Return to Build Your Wealth
- Life Protection for Peace of Mind
|Policy Year||Total Death Benefit|
|1 - 5||101% of Total Premiums Paid6||less Indebtedness (if any).|
|6 - 20||Applicable to the Life Insuredwith issue age 70 or below: 105% of Total Premiums Paid6 OR 100% of Guaranteed Cash Value as at the date of death of the Life Insured (whichever is greater) Applicable to the Life Insuredwith issue age above 70: 101% of Total Premiums Paid6 OR 100% of Guaranteed Cash Value as at the date of death of the Life Insured (whichever is greater)||plus Terminal Dividend (non-guaranteed)4(if any), less Indebtedness (if any).|
- Flexible Death Settlement Options7
- Fixed Premium for Your Better Planning
- Simple Application
- For USD Policy, the projected total return rate is 4.24% p.a. (non-guaranteed) upon Policy Maturity, if no Policy Loan, no partial surrender, no withdrawal of Policy Value and all premiums have been paid when due during the benefit term, with the 6% discount on the first year premium of USD375,000 or above and the 4% discount on the second year premium prepayment which is paid in full at the time of application. Client incentive is subject to the terms and conditions of "Fortune Evergrow 2022" Client Promotion Incentive – Wealth Up Savings Insurance Plan. For details of client promotion incentive, please refer to : https://www.hklife.com.hk/en/promotions/index-id-34.html
- The Policy will be terminated if the Policyowner cannot settle the premium payment before the end of the Grace Period during the Premium Payment Term, subject to the Non-forfeiture Option and other relevant provisions of the Policy. For detailed terms and conditions, please refer to the policy document issued by Hong Kong Life. If the Policy is terminated before the Policy Maturity, the Total Surrender Value (if applicable) received by the Policyowner may be less than the Total Premiums Paid.
- When paying the first year premium, the second year annual premium may be deposited in advance into the Premium Deposit Account at the same time in order to be eligible for 3% (applicable to HKD Policy) or 4% (applicable to USD Policy) discount on the second year premium. If the premium is pre-paid in HKD for USD Policy, the pre-paid amount will be converted to USD based on the exchange rate as at the date of prepayment and deposited into the Premium Deposit Account for paying the second year premium. The amount in the Premium Deposit Account will be debited automatically to pay the premium on the premium due date of the 2nd Policy Year. No interest will be credited and no partial or full withdrawal is allowed for the amount in the Premium Deposit Account.
- Terminal Dividend is not guaranteed and may be changed from time to time. Past performance is not indicative of future performance. The actual amount payable may be higher or lower than those illustrated in the Insurance Proposal. Hong Kong Life reserves the right to change them from time to time.
- Principal Amount is used to calculate Initial Premium, any subsequent premium, benefits and policy values (if any) of the respective Basic Plan and any Supplementary Benefit. Any subsequent change of the Principal Amount will result in corresponding change in premium, benefits and policy values (if any) of the respective Basic Plan and any Supplementary Benefit. The Principal Amount does not represent the amount of death benefit of the respective Basic Plan and any Supplementary Benefit.
- Total Premiums Paid means the total amount of due and payable premiums from the Policy Date up to the date of termination of the Plan, paid to the Plan and received by Hong Kong Life. Any payment in excess of such amount of due and payable premiums will not be included in the Total Premiums Paid. In case of Partial Surrender, the Total Premiums Paid under the Policy shall be adjusted and reduced proportionally as specified in the Partial Surrender provisions. The Total Premiums Paid does not include the amount in the Premium Deposit Account. In the event of the death of Life Insured, the amount in the Premium Deposit Account (if any) will be paid to the Beneficiary. If Policyowner requests to surrender, the amount in the Premium Deposit Account (if any) will be returned to the Policyowner.
- Death Benefit Settlement Options are only applicable in the event of the death of the Life Insured after the Premium Payment Term and all premiums due have been paid, and subject to the terms and conditions, and the then administrative rules as determined by Hong Kong Life from time to time. For detailed terms and conditions, please refer to the policy document issued by Hong Kong Life.
About Hong Kong Life
Established in 2001, Hong Kong Life Insurance Limited ("Hong Kong Life") was founded by five local financial institutions including Asia Insurance Company Limited, Chong Hing Bank Limited, CMB Wing Lung Bank Limited, OCBC Wing Hang Bank Limited and Shanghai Commercial Bank Limited, which laid their foundations and have been serving people in Hong Kong for more than 50 years in average. Through our extensive network of around 150 distribution points comprising Chong Hing Bank, CMB Wing Lung Bank, OCBC Wing Hang and Shanghai Commercial Bank, we provide a comprehensive range of insurance services.