Wealth Elite Saver 3 – Golden Years

Having lived a long life rich with wisdom and experience, you may be considering ways to seamlessly pass on the fruits of your success for the benefit of future generations.

Wealth Elite Saver 3 – Golden Years (“Golden Years” or the “Plan”) is designed for individuals seeking a solution for accumulating wealth and formalising their legacy. Available up to age 85¹, Golden Years offers life protection with guaranteed and non-guaranteed benefits, along with a suite of options that give you flexible control over your legacy. With just 2 years of premium payments, Golden Years offers confidence and lasting security, enabling your legacy to remain with your loved ones for generations to come.

Plan Highlights

Exceptional Advantage

Formalise your legacy planning during your golden years

Wealth Accumulation

Accumulate wealth with guaranteed and non-guaranteed benefits
Cash out to realise current gains for extra liquidity

Legacy Transfer

Change the Insured Person to pass on your wealth
Facilitate Policy continuity with flexible options

Family Protection

Safeguard your loved ones with life protection
Choose the settlement option that suits you

Exceptional Advantage

Formalise your legacy planning during your golden years
It is never too late to plan your wealth in order to achieve your legacy goals. That is why Golden Years is available up to age 85¹, with no health declaration required². When you become the Policyowner of a Golden Years Policy, you take charge of your wealth. You can preserve, accumulate and transfer wealth, as well as enjoy control over the Policy that you own. Golden Years makes legacy planning a breeze, so you can focus on what matters most – making memories with your loved ones.

Golden Years covers two Insured Persons under a single Policy¹. Your Policy will endure even if one Insured Person passes away, providing true lasting power for a legacy that will stand the test of time.

Wealth Accumulation

Accumulate wealth with guaranteed and non-guaranteed benefits
Golden Years provides Guaranteed Cash Value and non-guaranteed dividends, enhancing your wealth through long-term growth potential.

Guaranteed Cash Value:
As soon as your Policy is issued, Guaranteed Cash Value starts to be available and the amount you will receive upon Policy surrender is guaranteed to be not less than 85% of your initial total premium payment. This amount will continue growing steadily over the long term under your Policy, providing future support that you can count on.
Non-guaranteed Annual Dividend:
Starting from the 1st Policy Anniversary, the Plan will provide you with an Annual Dividend^3,4 on a yearly basis. You can choose to receive your Annual Dividend in cash or keep it in your Policy to accumulate interest⁵.
Non-guaranteed Special Dividend:
To further enhance your potential returns, the Plan will provide a Special Dividend^3,6 starting from the 3rd Policy Anniversary, which will be payable once both Insured Persons have passed away^♦, or upon Policy surrender or Policy maturity. It will also be partially payable when you exercise the Special Dividend Cash Out Option.

^♦Provided that the Contingent Insured Person Option does not take effect

Cash out to realise current gains for extra liquidity
To realise the current gains from your Special Dividend^3,6, you can exercise the Special Dividend Cash Out Option starting from the 15^th Policy Anniversary. Each time you apply to exercise this option, you can cash out a minimum of 10% (except for the last cash-out) and up to 50% of your Special Dividend as at the approved date of the application, without any reduction in the Nominated Amount under the Policy. You can cash out as many times as you wish as long as the aggregate cash-out percentage is not more than 50%. The future Special Dividend under the Policy will be reduced each time this option is exercised.

Legacy Transfer

Change the Insured Person to pass on your wealth
A long-lasting legacy requires flexible planning. That is why, from the 1^st Policy Anniversary, you can exercise the Change of Insured Person Option⁷ as many times as you wish. Either or both of the Insured Persons may be changed.

After changing the Insured Person, the Policy Term of the Plan will be updated to age 138 of the younger Insured Person or the new Insured Person⁸ (if applicable). That way, you may extend your wealth accumulation horizon and establish a lasting legacy for your family, both today and for generations to come. Changing the Insured Person will not affect your policy values.

Facilitate Policy continuity with flexible options
You can designate a Successor Owner⁹ who can apply to become the new Policyowner in the unfortunate event that the Policyowner passes away or is diagnosed with any one of the Specific Illnesses¹⁰. This would enable the new Policyowner to have access to the rights and benefits under the Policy, keeping your legacy safe for future generations.

Besides a Successor Owner, you can also designate a Contingent Insured Person¹¹, who can apply to become the new Insured Person⁸ in the unfortunate event that the Last Surviving Insured Person passes away after the 1^st Policy Anniversary, eliminating the possibility of Policy termination even if life takes an unexpected turn.

Family Protection

Safeguard your loved ones with life protection
Golden Years provides life protection up to age 138 of the younger Insured Person⁸. Once both Insured Persons have passed away^♦, the Beneficiary will receive a Death Benefit equal to:

The higher of:
(i) 105% of the total premiums paid and due; or
(ii) Guaranteed Cash Value plus Special Dividend^3,6 (if any)
+ Accumulated Annual Dividends^3,4 and interest⁵ (if any)
- Indebtedness¹² (if any)

In case there is any Premium Prepayment Balance¹³ when the Death Benefit becomes payable, such balance will be paid together with the Death Benefit.
^♦Provided that the Contingent Insured Person Option does not take effect

Choose the settlement option that suits you
You can choose how the Death Benefit will be paid to the Beneficiary¹⁴. The options include:

(i)	A lump-sum payment;
(ii)	Regular payments¹⁵ made monthly, semi-annually or annually for 5, 10, 20 or 30 years;
(iii)	Increasing regular payments¹⁵: The Policyowner can choose a first instalment amount of 5% to 20% of the settlement amount, and the remaining balance will be paid as subsequent regular instalments made monthly, semi-annually or annually until the settlement amount is fully paid. The amount of each subsequent regular instalment(s) of each year (except for the last regular instalment) will increase by 5% of the previous year’s regular instalment amount so as to account for inflation; or
(iv)	A lump-sum payment of not less than 5% of the settlement amount first, and the remaining balance to be paid in regular payments¹⁵ made monthly, semi-annually or annually for 5, 10, 20 or 30 years.

Interest will accrue on the balance of any settlement amount that has yet to be paid at an interest rate to be determined by Fubon Life Insurance (Hong Kong) Company Limited (“Fubon Life Hong Kong”) from time to time. That way, you can spread out the settlement payments according to your plans, providing long-term financial support to your loved ones.

Other than a lump-sum payment, options (ii), (iii) and (iv) above are also applicable to the settlement amount upon Policy surrender (provided that the Policy has been in force for 5 years prior to full surrender) or Policy maturity.

Plan Summary

Issue Age

Older Insured Person: 15 days to age 85 (age last birthday); and
Younger Insured Person: 15 days to age 55 (age last birthday)

Premium Payment Term

2 years

Policy Term

Up to age 138 of the younger Insured Person⁸

Policy Currency

HKD / USD

Premium Mode

Annual / Annual with Prepayment^13,16

Minimum Nominated Amount

HKD100,000 / USD12,500

Premium Prepayment Interest

Guaranteed to be 3.5% p.a. on the Premium Prepayment Balance¹³
Will be used to settle future premiums

Guaranteed Cash Value

Payable once both Insured Persons have passed away^♦, or upon Policy surrender or Policy maturity
^♦ Provided that the Contingent Insured Person Option does not take effect

Non-guaranteed Annual Dividend^3,4

Available from the 1st Policy Anniversary

Non-guaranteed Special Dividend3^3,6

Available from the 3^rd Policy Anniversary
Payable once both Insured Persons have passed away^♦, or upon Policy surrender or Policy maturity
Partially payable upon the exercise of the Special Dividend Cash Out Option

^♦Provided that the Contingent Insured Person Option does not take effect

Special Dividend Cash Out Option

Starting from the 15th Policy Anniversary, the Policyowner can apply to cash out a minimum of 10% (except for the last cash- out) and up to 50% of the Special Dividend^3,6 as at the approved date of the application, without any reduction in the Nominated Amount under the Policy
The aggregate cash-out percentage shall not exceed 50%
The future Special Dividend^3,6 under the Policy will be reduced each time this option is exercised

Surrender Benefit

Guaranteed Cash Value
+ Accumulated Annual Dividends^3,4 and interest⁵ (if any)
+ Special Dividend^3,6 (if any)
- Indebtedness¹² (if any)
In case there is any Premium Prepayment Balance¹³ as at Policy surrender, such balance less the Surrender Charge¹⁶ will also be paid

4 Surrender Benefit Settlement Options are available to choose from:

(i)	A lump-sum payment;
(ii)	Regular payments¹⁵ made monthly, semi-annually or annually for 5, 10, 20 or 30 years;
(iii)	Increasing regular payments¹⁵: The Policyowner can choose a first instalment amount of 5% to 20% of the settlement amount, and the remaining balance will be paid as subsequent regular instalments made monthly, semi-annually or annually until the settlement amount is fully paid. The amount of each subsequent regular instalment(s) of each year (except for the last regular instalment) will increase by 5% of the previous year’s regular instalment amount so as to account for inflation; or
(iv)	A lump-sum payment of not less than 5% of the settlement amount first, and the remaining balance to be paid in regular payments¹⁵ made monthly, semi-annually or annually for 5, 10, 20 or 30 years

Options (ii), (iii) and (iv) above are available provided that the Policy has been in force for 5 years prior to full surrender

Maturity Benefit

Guaranteed Cash Value
+ Accumulated Annual Dividends^3,4 and interest⁵ (if any)
+ Special Dividend^3,6 (if any)
- Indebtedness¹² (if any)
The Surrender Benefit Settlement Options are also applicable to the settlement amount at Policy maturity

Death Benefit

The higher of:
(i) 105% of the total premiums paid and due; or
(ii) Guaranteed Cash Value plus Special Dividend^3,6 (if any)
+ Accumulated Annual Dividends^3,4 and interest⁵ (if any)
- Indebtedness¹² (if any)
In case there is any Premium Prepayment Balance¹³ when the Death Benefit is payable, such balance will be paid together with the Death Benefit

4 Death Benefit Settlement Options are available to choose from:

(i)	A lump-sum payment;
(ii)	Regular payments¹⁵ made monthly, semi-annually or annually for 5, 10, 20 or 30 years;
(iii)	Increasing regular payments¹⁵: The Policyowner can choose a first instalment amount of 5% to 20% of the settlement amount, and the remaining balance will be paid as subsequent regular instalments made monthly, semi-annually or annually until the settlement amount is fully paid. The amount of each subsequent regular instalment(s) of each year (except for the last regular instalment) will increase by 5% of the previous year’s regular instalment amount so as to account for inflation; or
(iv)	A lump-sum payment of not less than 5% of the settlement amount first, and the remaining balance to be paid in regular payments¹⁵ made monthly, semi-annually or annually for 5, 10, 20 or 30 years

Application Procedure

No health declaration required²

Remarks:

Golden Years provides life coverage for two Insured Persons under a single Policy. The two Insured Persons shall be aged 85 or below and aged 55 or below respectively at the time of application.

Fubon Life Hong Kong has set a limit to the total premiums of insurance policies in respect of the same type of insurance product (as determined and revised by Fubon Life Hong Kong from time to time) for each Insured Person. If an Insured Person does not exceed this limit after submitting a Policy application for the Plan, he or she is not required to submit a health declaration. Where one Insured Person exceeds this limit and the other Insured Person does not, only the Insured Person that exceeds this limit is required to submit a health declaration for the application. Fubon Life Hong Kong reserves the right to accept or reject any applications for the Plan based on the information provided by both Insured Persons during application.

Any Indebtedness will be deducted from the non-guaranteed Annual Dividend or Special Dividend when payable.

⁴

The Annual Dividend is non-guaranteed. However, the amount of the Annual Dividend and its interest (if any) already distributed in the Policy will not be changed. Past declarations of the Annual Dividend are not an indicator for future declarations. Future declarations of the Annual Dividend can be lower or higher than the past declarations and are determined based on the Dividend Philosophy. Please refer to the Dividend Philosophy for the relevant risk factors and details.

⁵

The accumulation interest rate is not guaranteed and can be determined by Fubon Life Hong Kong from time to time.

⁶

The Special Dividend is non-guaranteed and shall not be vested in the Policy until the time of payment. Past declarations of the Special Dividend are not an indicator of future declarations. Future declarations of the Special Dividend can be lower or higher than the past declarations and are determined based on the Dividend Philosophy. Please refer to the Dividend Philosophy for the relevant risk factors and details.

⁷

The Policyowner may apply to change any surviving Insured Person starting from the 1^st Policy Anniversary. The application shall be effective upon Fubon Life Hong Kong’s approval pursuant to applicable laws and regulations and Fubon Life Hong Kong’s prevailing rules and underwriting requirements in effect from time to time. Please refer to the Policy Provisions for details.

⁸

The Policy Term of the Plan will be updated to age 138 of the new Insured Person in the event that (i) the change of Insured Person is exercised after one of the Insured Persons has passed away; or (ii) the Contingent Insured Person Option is exercised.

⁹

The designation of a Successor Owner shall be effective upon Fubon Life Hong Kong’s approval. The Successor Owner can apply to become the new Policyowner if the Policyowner passes away or is diagnosed with any one of the Specific Illnesses during the benefit period, and the application shall be effective upon Fubon Life Hong Kong’s approval pursuant to applicable laws and regulations and Fubon Life Hong Kong’s prevailing rules in effect from time to time. Please refer to the Policy Provisions for details.

¹⁰

The Specific Illnesses include Alzheimer’s Disease, Coma, Loss of Independent Existence and Parkinson’s Disease. Please refer to the Policy Provisions for definitions of the relevant Specific Illnesses.

¹¹

The designation of a Contingent Insured Person shall be effective upon Fubon Life Hong Kong’s approval. The Contingent Insured Person can apply to become the new Insured Person in the event of the death of the Last Surviving Insured Person after the 1^st Policy Anniversary, and the application shall be effective upon Fubon Life Hong Kong’s approval pursuant to applicable laws and regulations and Fubon Life Hong Kong’s prevailing rules and underwriting requirements in effect from time to time. Please refer to the Policy Provisions for details.

¹²

Indebtedness means all outstanding loans owed to Fubon Life Hong Kong including the Automatic Policy Loan, Policy Loan, accrued interest on these loans, unpaid premium and any other amounts owed to Fubon Life Hong Kong.

¹³

An amount equivalent to an annual premium amount shall be deducted from the Premium Prepayment Balance annually on each and every premium due date. Prepayment cannot be refunded or withdrawn except in the event of the Death Benefit payment, Policy surrender or reduction in the Nominated Amount.

¹⁴

Upon the Policyowner’s request while the Policy is in force, the Beneficiaries are allowed to apply for a change of the Death Benefit Settlement Option after the death of both Insured Persons. Please refer to the Policy Provisions for details.

¹⁵

For the settlement amount to be paid at regular intervals upon (i) the death of the Last Surviving Insured Person; (ii) Policy surrender; or (iii) Policy maturity, the amount payable must be equal to or more than HKD400,000 / USD50,000. Interest will accrue on the portion of such settlement amount which has yet to be paid at an interest rate to be determined by Fubon Life Hong Kong from time to time at its sole discretion. Please refer to the Policy Provisions for details.

¹⁶

Should the Policyowner surrender the Policy or reduce the Nominated Amount of the Policy during the Premium Payment Term, a Surrender Charge of 5% of the Premium Prepayment Balance will be charged by Fubon Life Hong Kong.

You can visit any Fubon Bank branch or simply call Fubon Bank Integrated Customer Service Hotline 2566 8181 (Press 3 after language selection) during office hours^* for more details.

^*Office hours: Monday to Friday: 9am to 7pm; Saturday: 9am to 1pm (Except public holidays).

Warning Statement:

Wealth Elite Saver 3 – Golden Years is a life insurance plan, with non-guaranteed dividend and non-guaranteed accumulated interest. Part of the premiums pay for the insurance and related costs. The Policy is underwritten by Fubon Life Insurance (Hong Kong) Company Limited and is subject to Fubon Life Hong Kong’s credit risk. In the worst scenario, you may lose all premiums paid and benefits provided under the Policy. The savings part of the Plan is also subject to risk and loss. You must be aware of the long-term nature of life insurance plan. If you surrender your Policy before maturity, the amount you get back may be less than the amount of total premiums you have paid and thus resulting in a pecuniary loss. The insurance plan includes guaranteed and non-guaranteed parts. The non-guaranteed part is projected figures and for illustrative purposes only and is not guaranteed. The actual benefits and/or returns may be lower or higher than the projected figures. You should fully understand all of the risks involved in this product and consider whether this product is affordable and suitable to you before making your application. If you are not satisfied with the Policy, you have the right to cancel the Policy within the cooling-off period and obtain a refund of any premiums paid by giving written notice to Fubon Life Hong Kong provided that you have not made any claims under the Policy. Such notice must be signed by you and received directly by Fubon Life Hong Kong at Suites 701 - 705, 7/F, 12 Taikoo Wan Road, Taikoo Shing, Hong Kong within 21 calendar days immediately following either the day of the delivery of the Policy or the Cooling-off Notice to you or your nominated representative, whichever is earlier.

Terms and Conditions

Important Notes

Nominated Amount and its Adjustment

The Nominated Amount serves as an amount for the calculation of premiums and other policy values for the Plan. It is not equivalent to the amount of the Death Benefit payable within the benefit period.

Reduction in Nominated Amount on Policy Anniversary is allowed, which shall not be less than the minimum Nominated Amount. As such, the Guaranteed Cash Value, Annual Dividend (if any), Special Dividend (if any), Premium Prepayment Balance (if any) and premium shall be reduced in proportion. The Surrender Benefit, Maturity Benefit and Death Benefit shall also be reduced accordingly.

Cooling-off Period

If you are not completely satisfied with the Policy, you may return the Policy (if applicable) with your signed written request to Fubon Life Hong Kong for its cancellation. The Policy will be cancelled and the premium paid will be refunded, provided that the written cancellation request must be received directly by Fubon Life Hong Kong within 21 calendar days immediately following either the day of delivery of the Policy or the Cooling-off Notice to you or your nominated representative, whichever is earlier. The Cooling-off Notice is the notice sent to you or your nominated representative (separate from the Policy) notifying you of your right to cancel within the stated 21 calendar day period. The business address of Fubon Life Hong Kong’s Customer Services Department is Suites 701 - 705, 7/F, 12 Taikoo Wan Road, Taikoo Shing, Hong Kong. No premium or prepaid premium (if any) shall be refunded if claim payment is made under this Policy. After the expiration of the cooling-off period, if you cancel the Policy before maturity, the projected total cash value may be less than the amount of the total premiums you have paid.

Levy on Insurance Premium

Effective from 1 January 2018, all Policyowners are required to pay a levy on each premium payment made for both new and in-force Policies to the Insurance Authority (“IA”). Pursuant to the current policy, the levy will be borne and settled by Fubon Life Hong Kong to the IA and Fubon Life Hong Kong reserves the right to change such policy. For levy details, please visit Fubon Life Hong Kong’s website at www.fubonlife.com.hk/products_philosophy_en.html or IA’s website at www.ia.org.hk.

Dividend Philosophy

For participating Policy, your Policy can earn the investment return of the segregated asset portfolio of the group of business determined by Fubon Life Hong Kong in the form of Annual Dividend and/or Special Dividend. The Annual Dividend and Special Dividend are non-guaranteed benefits. Fubon Life Hong Kong aims to ensure fair treatment between different groups of Policyowners.

The Annual Dividend and Special Dividend will be reviewed at least once a year, based on actual experience and investment outlook. Fubon Life Hong Kong will smooth out the volatility of the actual investment return to ensure a stable dividend payment. If there is any change to the Annual Dividend or Special Dividend scale, you will be informed in writing or by the Policy annual statement with explicit reasons for the change.

To determine the Annual Dividend and Special Dividend payment, Fubon Life Hong Kong will consider the actual experience and the outlook of the following factors:

Investment performance factors: This includes the interest earning of the asset portfolio and market value changes of the asset portfolio, reflecting different market factors such as equity price, asset liquidity, credit spread, default risk and exchange rate.
Persistency factors: This includes full surrender and partial surrender and the corresponding impact on investments, etc.
Claim factors: This includes the cost of providing Death Benefit and other insured benefits.

Investment Policy, Investment Objectives and Investment Strategy

The Investment Policy aims to actively monitor and manage investment risk and Policy liability and to identify asset with suitable characteristics, tenor and liquidity to meet the cash flow need of the insurance business.

The Investment Objectives are to support the guaranteed benefit of the Policies and also to meet the non-guaranteed benefit as illustrated in the Benefit Illustration document to the Policyowners.

The Investment Strategy is to diversify investment risks, to improve capital utilization efficiency, to enhance overall investment returns, and to safeguard the long-term interests of Shareholders and Policyowners. Should there be any significant changes in the Investment Strategy, Fubon Life Hong Kong would inform Policyowners of the changes, with underlying reasons and impact to the Policies.

The long-term target asset mix of this product is:

Asset Type

Target Asset Mix (%)

Bonds and other fixed income assets

30 – 85%

Non-fixed income assets

15 – 70%

To diversify the risk, Fubon Life Hong Kong may invest in securities of different regions, industries, credit ratings, and liquidities. This includes government bonds, corporate bonds and other fixed income assets in US, European, emerging markets, and so on. Fubon Life Hong Kong may also invest in non-fixed income assets including equities, private fund, public fund, mutual fund, index fund, etc. Depending on economy outlook, investment environment, as well as changes in the credit risk, Fubon Life Hong Kong will regularly review and adjust the asset allocation.

For details of “Dividend Philosophy”, “Accumulation Interest Rate Philosophy”, “Investment Policy, Investment Objectives and Investment Strategy” and “Measure to Manage Potential Conflict”, please refer to Fubon Life Hong Kong’s company website at www.fubonlife.com.hk/products_philosophy_en.html.

For details of “Fulfilment Ratios of Dividends and Interests”, please refer to Fubon Life Hong Kong’s company website at www.fubonlife.com.hk/fulfillment-ratios_crediting-interest_en.html.

The historical figure is not an indicator of future performance of Fubon Life Hong Kong’s products.

Key Product Risks

Nature of the Product and Liquidity Risk

The Plan is of long-term nature and is not of any bank savings nature. You are advised to carefully consider your financial capability, cash flow and liquidity needs before making any purchase decision. The Plan may not be suitable for you and you should not purchase the Plan if you are in need of short-term liquidity.

Policy Currency Risk

Policy currency is denominated in the currency as set out in the Policy Schedule. Should the premiums and benefits requested to be paid in the currency other than the Policy currency, approval of such request would be subject to Fubon Life Hong Kong’s absolute discretion and Fubon Life Hong Kong reserves the right to adopt an exchange rate as determined by Fubon Life Hong Kong’s absolute discretion. Please refer to “Foreign Exchange Risk” section below for more details.

Risk on Delaying or Missing Premium Payment

The premium will be paid to Fubon Life Hong Kong and part of the premiums will become part of the assets of Fubon Life Hong Kong while part of it will be paid for the insurance and related costs. The Policyowner does not have any direct rights nor ownership over any of these assets. The Policyowner’s rights are subject to terms and conditions of the Policy Provisions and his/her recourse is against Fubon Life Hong Kong only.

You should pay the initial premium on or before the Policy date and subsequent premium(s) on time according to the selected premium mode. Besides, if you fail to make subsequent premium payment before the expiry of the Grace Period (within 31 days after the premium due date) and, if applicable, the outstanding premium is not paid by the Automatic Policy Loan, the Policy will be terminated on the premium due date that triggers the Grace Period and you will lose the coverage afterward. The Surrender Benefit will be refunded to you. You may refer to the related Benefit Illustration document for details.

Withdrawal Risk

Withdrawal of the accumulated Annual Dividends and interest (if any) is not allowed if the withdrawal shall cause the total Indebtedness under the Policy to exceed 80% of the aggregate of Guaranteed Cash Value and accumulated Annual Dividends and interest (if any).

Surrender Risk

The Plan has a savings component and is subject to risks and possible loss. Should you surrender the Policy or reduce the Nominated Amount of the Policy before maturity, you may receive an amount considerably less than the amount of total premiums paid. Furthermore, reduction in Nominated Amount is not allowed if the reduction shall cause the total Indebtedness under the Policy to exceed 80% of the aggregate of Guaranteed Cash Value and accumulated Annual Dividends and interest (if any).

Termination Condition

Unless otherwise specified, all benefits under the Policy shall terminate on the earliest of the following events:

Death of the Last Surviving Insured Person provided that the Contingent Insured Person Option does not take effect;
At Policy maturity;
Indebtedness under the Policy is greater than or equal to the aggregate of Guaranteed Cash Value and accumulated Annual Dividends and interest (if any);
Surrender or cancellation of the Policy; or
If Fubon Life Hong Kong is unable to collect any subsequent premiums which are due by the expiry of Grace Period and, if applicable, the outstanding premium is not paid by the Automatic Policy Loan.

Suicide

If the Last Surviving Insured Person commits suicide whilst sane or insane within the first 13 months from the Issue Date, the last Reinstatement Date (if applicable) or the effective date of the last change of Insured Person (if that Insured Person becomes the Last Surviving Insured Person) (whichever is the latest), Fubon Life Hong Kong shall only refund to the Policyowner or the estate of the Policyowner the higher of (i) the amount of the premium paid and the prepaid premium (applicable to Policies under the Annual with Prepayment mode) without interest less any benefits paid and Indebtedness; or (ii) the Surrender Benefit as at the date of death resulting from suicide of the Last Surviving Insured Person.

Policy Loan

The Plan offers Policy Loan. It may trigger the start of Automatic Policy Loan, if there is outstanding premium. The loan shall bear interest computed at such rate as may be adopted by Fubon Life Hong Kong from time to time. No Policy Loan shall be granted if the loan shall cause the total Indebtedness under the Policy to exceed 80% of the aggregate of Guaranteed Cash Value and accumulated Annual Dividends and interest (if any). Please refer to the Policy Provisions for details.

Non-guaranteed Benefit

The Annual Dividend and its accumulation interest rate, Special Dividend and the accumulation interest rate of the remaining balance of the settlement amount at (i) the death of the Last Surviving Insured Person; (ii) Policy surrender; or (iii) Policy maturity under the regular payment option are not guaranteed. All non-guaranteed benefits are determined by Fubon Life Hong Kong and subject to revision from time to time.

Foreign Exchange Risk

Any transactions involving foreign currencies are subject to risks, the ever changing political and economic conditions may substantially affect the premium amount paid in Hong Kong dollars due to the currency exchange rate or liquidity of currencies. The premiums received by Fubon Life Hong Kong in a currency different from your Policy currency will be converted to the Policy currency at the prevailing exchange rate determined by Fubon Life Hong Kong from time to time with reference to market rates. All monies payable to Fubon Life Hong Kong or by Fubon Life Hong Kong will be paid in Policy currency, or in the currency other than the Policy currency upon your request. Approval of such request would be subject to Fubon Life Hong Kong’s absolute discretion and Fubon Life Hong Kong reserves the right to adopt the prevailing exchange rate as determined by Fubon Life Hong Kong’s absolute discretion. Therefore, it may be subject to foreign exchange risks in the process of currency conversion.

Inflation Risk

The benefits provided under your Policy may not be sufficient to meet your future needs as the future costs of living may be higher than that of today due to inflation.

Credit Risk

Fubon Life Hong Kong is the underwriter of the Plan. The Policy is subject to Fubon Life Hong Kong’s credit risk. If Fubon Life Hong Kong is unable to satisfy the financial obligations of the Policy, in the worst scenario, you may lose substantial part of, and even all, premiums paid and benefits provided under the Policy.

Other Information

The Plan is a life insurance product, but not a bank savings plan embedded with a life insurance. The premium is not a placement of a savings deposit with the bank and hence is not protected by the Deposit Protection Scheme in Hong Kong.
Fubon Life Hong Kong is solely responsible for all content, approvals, coverage and benefit payment of the Plan.
Fubon Life Hong Kong reserves the right to accept or reject any insurance application.
Fubon Life Hong Kong is fully responsible for all the above information.
The above information does not contain the full terms of the Policy and is intended for reference only. The full Policy terms and conditions are set out in the Policy Provisions of the Plan. For more information on the Policy terms and conditions, please contact the staff of Fubon Bank.
The above information shall not be construed as an offer to sell or solicitation to buy or provision of any insurance of Fubon Life Hong Kong outside Hong Kong.
Levy collected by the Insurance Authority will be imposed on the policy at the applicable rate, which would be borne by Fubon Life on behalf of policyowners and remitted in accordance with the prescribed arrangements. Fubon Life will review the payment arrangement of levy on insurance premium regularly and reserves the right to revise the arrangement. For further information, please visit Fubon Life’s company website www.fubonlife.com.hk/products_philosophy_en.html or contact Fubon Life Customer Service Hotline at (852) 2516 0133.
Fubon Life Hong Kong is a private company limited by shares incorporated and registered in Hong Kong and its registered office is situated at Suites 701-705, 7/F, 12 Taikoo Wan Road, Taikoo Shing, Hong Kong.

Important Notes for Fubon Bank (Hong Kong) Limited as an Appointed Licensed Insurance Agency

Fubon Bank (Hong Kong) Limited (“Fubon Bank”) is the appointed licensed insurance agency for Fubon Life Hong Kong, and is responsible for introduction of the insurance plans. The Plan is not the product of Fubon Bank. Fubon Bank is not responsible for any Policy terms or obligations of the Plan.
In case you file a written complaint regarding the selling process or processing of the related transaction to Fubon Bank and the complaint is an “Eligible Dispute(s)” as defined in the Terms of Reference for the Financial Dispute Resolution Centre, Fubon Bank is required to enter into a Financial Dispute Resolution Scheme process with you if the Eligible Dispute cannot be resolved after Fubon Bank has issued the final written reply. If the complaint / dispute is related to the Policy term, it should be resolved directly between Fubon Life Hong Kong and you.

Fubon Bank Integrated Customer Service Hotline

2566 8181

(Press 3 after language selection)

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