Forest Insurance Plan (2)

Underwritten by China Life Insurance (Overseas) Company Limited, Forest Insurance Plan (2) (the “Plan”) provides multiple potential returns which facilitate long-term wealth accumulation, together with policy split option, you can split the policy as your needs evolve, helping you to flexibly allocate your assets and pass your legacy onto the offspring at ease.

Plan Features

2-year premium payment term with whole life protection
By paying premium for 2 years¹, you can enjoy whole life protection. You may pay your premium in annual or annual and premium prepayment² mode. If you choose the annual and premium prepayment option², you can enjoy a guaranteed interest rate of 5% per annum to boost your returns.

Multiple potential returns to accelerate wealth building
The Plan is a participating insurance plan that offers you potential capital growth. Its policy value consists of guaranteed cash value, non-guaranteed dividends³ (if any) and terminal dividend⁴ (if any).

Guaranteed cash value grows over the policy years helping you accumulate wealth.

Non-guaranteed dividends³ will be payable starting from the 1^st policy anniversary and every policy anniversary thereafter, providing you with a stream of potential returns. You may leave the non-guaranteed dividends³ (if any) in the policy to accumulate interest⁵ or withdraw⁶ that to achieve different financial goals.

Terminal dividend⁴ is a one-off non-guaranteed dividend, which is payable from the 3^rd policy anniversary upon certain events.

Flexible access to your wealth for matching your needs
To cater to your financial needs, you can partially withdraw the guaranteed cash value and non-guaranteed terminal dividend⁴ (if any) through reducing the basic amount⁷, the policy value and death benefit will be reduced accordingly.

Alternatively, you can apply for policy loan to loan out part of the guaranteed cash value when needed, while keeping the policy in force. Interest on policy loan which is not guaranteed will be charged at a rate determined by us from time to time.

Split your policy and pass it to your loved ones
You can distribute your wealth in the way you choose by easily exercising the “policy split option”⁸, which allows you to divide your policy into multiple policies as you wish and pass on your wealth to your next generation.

Starting from the 5^th policy anniversary, you may exercise the “policy split option”⁸ at any time to split the original policy into two or more new policies according to the designated percentages.

Once the policy split is completed, you may also apply for change of insured⁹, to allocate your legacy and enjoy greater flexibility on wealth allocation.

Unlimited change of insured and pass on wealth across generations
We understand you wish to provide your loved ones with a secure financial future. This is why the Plan features the “change of insured option”⁹, allowing you to change the insured on or after the 1st policy anniversary for unlimited times while the insured is alive, giving your wealth more time to grow. Together with the change of policyholder, you can pass the policy down through generations.

The new insured must have insurable interest with the policyholder, and subject to the below terms and conditions:
(a) if the new insured’s attained age exceeds first insured’s attained age, the attained age of the new insured shall not exceed: (i) age 65; or (ii) the attained age of the first insured of the policy plus 10 years; whichever is lower;
(b) if the new insured’s attained age is equal to or below the first insured’s attained age, the attained age of the new insured shall not exceed age 80.

Contingent insured to sustain insurance coverage
You can designate a maximum of 2 contingent insureds¹⁰ at a time while the insured is alive and the policy is in force. In case the insured passes away, we will arrange the contingent insured who is first in line to be the new insured according to relevant administrative procedures and sequence for allowing the policy to continuously provide protection to you and your family.

The contingent insured must have insurable interest with the policyholder, and subject to the below terms and conditions:
(a) if the contingent insured(s)’s attained age (on an individual basis if more than one contingent insured) exceeds the first insured’s attained age, the attained age of contingent insured(s) shall not exceed: (i)age 65; or (ii)the attained age of the first insured of the policy plus 10 years; whichever is lower
(b) if the contingent insured(s)’s attained age (on an individual basis if more than one contingent insured) is equal to or below the first insured’s attained age, the attained age of the contingent insured(s) shall not exceed 80.

Life protection provides peace of mind to your loved ones

Death benefit
In case the insured passes away when the policy is in force and no contingent insured is assigned, we will pay the beneficiary a death benefit which is equal to the higher of below:

101% of the accumulated premium due and paid of the basic plan; or
sum of guaranteed cash value and non-guaranteed terminal dividend⁴ (if any) of the basic plan at the date of death of the insured,
plus non-guaranteed accumulated dividends³ (if any) with interest⁵ (if any),
less all indebtedness (if any) of the policy.

Where the insured does not survive the age of 180 days, the death benefit will be all premium paid.
The policy will be terminated after death benefit is paid in full.

Death benefit settlement option
While the insured is alive, you can choose how the death benefit is to be paid to safeguard your family’s financial future. You can choose to settle the benefits in a lump sum or by annual instalments with a fixed amount over a fixed payment term of 10, 20 or 30 years.

For the instalment option, the remaining balance of death benefit will be deposited in the policy to accumulate interest until the end of the payment term. The interest will be calculated on an annual basis and it is non-guaranteed which will be determined by us from time to time. The accumulated interest⁵ (if any) will be paid together with the last instalment of death benefit. If the beneficiary dies during the settlement period of the death benefit, we will pay the remaining balance of the death benefit with interest (if any) in a lump sum payment to the personal representative for the estate of the deceased beneficiary(ies).

If the death benefit at the date of the insured’s death is less than USD50,000 (for USD policy) or HKD400,000 (for HKD policy), or the policyholder does not specify any settlement option, we will pay out the benefit amount to the beneficiary in a lump sum.

Simplified underwriting
To enable you to achieve your goals with ease, application of the Plan is easy and no medical examination is required.

Enrolment Terms

Issue age	15 days to age 70
Benefit term	Whole life
Premium payment term	2 years
Policy currency	USD / HKD
Premium payment mode¹	Annual Annual and premium prepayment²
Minimum basic amount⁷	USD10,000 / HKD80,000
Maximum basic amount⁷	USD5,000,000 / HKD40,000,000

Notes:

If the required renewal premium is paid by you within the grace period, the policy shall continue to be in force. For details, please refer to the policy provisions issued by China Life (Overseas). If the policy is lapsed or surrendered early, the policy cash value received by you may be considerably less than the total amount of the premiums paid.

If you choose the annual and premium prepayment option, you can withdraw the unused prepaid premium (including interest, if any) at one time. China Life (Overseas) will charge 3% of the withdrawal amount, at a minimum amount of HKD200 (applicable to HKD policy) or USD25 (applicable to USD policy). You can withdraw the unused prepaid premium once only. The interest rate of prepaid premium is 5% p.a. and this interest rate is guaranteed.

Dividends (if any) will be payable while the policy is in force, all due premiums are paid and the insured still survives. The dividends and interest are not guaranteed. The actual benefits and / or returns may be lower or higher than estimates. China Life (Overseas) reserves the right to revise these from time to time. The actual amount of dividends is subject to the overall performance of China Life (Overseas)’s participating businesses, including investment returns and claims, etc.

⁴

Terminal dividend is a one-off dividend and is non-guaranteed. Amount of terminal dividend shown in proposal illustration is just an indicative figure. Declared terminal dividend is not perpetually attached to the policy. It may be reduced or increased at subsequent declarations. Its actual amount will only be determined when it becomes payable. The actual amount may be lower or higher than the projected figure. Under some circumstances, actual amount of terminal dividend may be zero. The amount of terminal dividend is affected by various factors including but not limited to the performance of the underlying investments, so the amount is relatively volatile and will move up and down over time. China Life (Overseas) reserves the right to revise the terminal dividend from time to time. Past record is not necessarily indicative of future result. For details, please refer to clause 1 and 2 under “Policy Information”, and “Non-guaranteed benefit” risk.
Starting from the 3^rd policy anniversary, terminal dividend shall be paid upon the occurrence of the earlier of the following conditions:
(i) when the death benefit is paid (only applicable if the sum of guaranteed cash value and the terminal dividend (if any) of the Plan at the date of death of the insured is higher than 101% of the accumulated premium due and paid of the Plan); or
(ii) when the policy is surrendered

⁵

The interest is not guaranteed. The actual benefits and / or returns may be lower or higher than estimates. China Life (Overseas) reserves the right to revise the interest rate from time to time.

⁶

You may withdraw the dividends at any time without any charge, however, the policy value and death benefit will be affected in case of withdrawal of dividends.

⁷

Basic amount means the amount shown on the policy information page as the “basic amount” (or as amended by endorsement from time to time). The “basic amount” is used to calculate premium, guaranteed cash value, dividend (if any) and non-guaranteed terminal dividend (if any) but it is not applicable to the calculation of the “death benefit”. If the basic amount has been amended while the policy is in force, the said premium, guaranteed cash value, dividend (if any) and non-guaranteed terminal dividend (if any) will be adjusted accordingly.

⁸

There is no limitation on the number of split policies for exercising the policy split option. For the policy year in which the policy split option is exercised under the policy, the policyholder cannot apply policy split option for the split policy(ies) in the same policy year. Application for exercising the policy split option is subject to the followings:
a. the basic amount of each split policy must not be less than the minimum basic amount of the basic plan determined by the Company at the time;
b. the sum of split percentage of all split policies equals to 100%;
c. there is no premium due and unpaid or indebtedness (if applicable) under the policy;
d. there is no claim pending for approval under the policy; and
e. no change, cancellation, withdrawal or termination by the policyholder will be allowed once the application is submitted to the Company for exercising the policy split option.
Upon the Company’s approval of the application for exercising the policy split option, the following will apply:
(i) the policy split option will be effective provided that the application is approved by the Company with remarks duly signed by the Company’s authorized signatory(ies) or endorsements. The effective date of policy split option will be the date of the Company’s approval for such application (according to the Company’s records);
(ii) the policy will be terminated immediately and the split policies will take effect immediately when the policy split option is effective;
(iii) the policy year, policy date, policy effective date and the latest date of reinstatement (if any) of each split policy will be the same as the policy year, policy date, policy effective date and the latest date of reinstatement (if any) of the policy as of the policy split option effective date;
(iv) the policyholder, insured and beneficiary(ies) (with the respective designated percentage) of the split policies will be the same as the policyholder, insured and beneficiary(ies) (with the respective designated percentage) of the policy as of the policy split option effective date;
(v) the settlement option of death benefit, contingent insured(s) and sequence of contingent insured(s) of the split policies will be the same as the settlement option of death benefit, contingent insured(s) and sequence of contingent insured(s) of the policy as of the policy split option effective date;
(vi) cooling-off period will not be applicable to the split policies;
(vii) all rider(s) under the policy (if any) will be terminated immediately on the policy split option effective date;
(viii) the basic amount, guaranteed cash value, accumulated dividends (if any) with interest (if any) and terminal dividend (if any) of the basic plan as of the policy split option effective date will be allocated to each split policy according to the corresponding split percentage;
(ix) the dividend (if any) of each split policy after the policy split option effective date will be calculated according to the basic amount of each split policy;
(x) the accumulated premium due and paid of the policy as of the policy split option effective date will be allocated to each split policy according to the corresponding split percentage;
(xi) similar policy split option will also be applicable to each split policy starting from the policy year immediately after the policy year in which the policy split option becomes effective; and
(xii) unless otherwise specified above, benefits, terms and conditions of each split policy will be the same as those of the policy.

⁹

Both current insured and new insured should be alive during the application for change of insured, which is subject to the prevailing administrative rules of China Life (Overseas). The basic amount, guaranteed cash value, policy date, policy year, premium expiry date, the latest date of reinstatement of the policy (if any), accumulated premium due and paid, death benefit, settlement option of death benefit, dividend (if any), accumulated dividends (if any) with interest (if any), terminal dividend (if any), policy split option (if any) and indebtedness (if any) of the basic plan will not be changed due to the change of insured.

¹⁰

Application for contingent insured is subject to the prevailing administrative rules of China Life (Overseas). After the primary contingent insured became the new insured, the basic amount, guaranteed cash value, policy date, policy year, premium expiry date, the latest date of reinstatement of the policy (if any), accumulated premium due and paid, death benefit, settlement option of death benefit, dividend (if any), accumulated dividends (if any) with interest (if any), terminal dividend (if any), policy split option (if any) and indebtedness (if any) of the basic plan will not change.

For enquiries, 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:

Forest Insurance Plan (2) is a life insurance plan (including guaranteed cash value, non-guaranteed dividends and non-guaranteed terminal dividend). Part of the premiums are paid for the insurance and related costs. The policy is underwritten by China Life Insurance (Overseas) Company Limited (“China Life (Overseas)”) and is subject to China Life (Overseas)’s credit risk. In the worst scenario, you may lose all premiums paid and benefits provided under the policy. The savings parts 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 early, the amount you get back may be less than the total amount of premiums paid and thus resulting in a pecuniary loss. You should fully understand all of the risks involved in the plan and consider whether the plan is affordable and suitable to you before making your application. You have the right to cancel the policy within the cooling-off period and obtain a refund of any premium and premium levy (if any) paid provided that no claim has been made under the policy. You must submit a written notice signed by you to China Life (Overseas) at 22/F, CLI Building, 313 Hennessy Road, Wan Chai, Hong Kong within 21 calendar days after the delivery of the policy or Notice of Policy Issuance (telling you about the availability of the policy and the expiry date of the cooling-off period) to you or your representative, whichever is earlier.

Terms and Conditions

Important Information:

The above information is for reference only. It does not form a contract between China Life (Overseas) and anyone or any entity else. The detailed terms, conditions and exclusions of the Plan are subject to the relevant policy contract. You are reminded to review the policy contract and all relevant product materials and to seek independent professional advice if necessary. For a copy of the policy provisions, please contact China Life (Overseas) for enquiry.

The Plan is a life insurance plan (including guaranteed cash value, non-guaranteed dividends and non-guaranteed terminal dividend). Part of the premiums are paid for the insurance and related costs. You should fully understand all of the risks involved in the Plan and consider whether the Plan is affordable and suitable to you before making your application.

The Plan is an insurance product, but not a bank savings plan embedded with a free 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.

Cooling-off right (Not applicable to split policies under “policy split option”) – You have the right to cancel the policy within the cooling-off period and obtain a refund of any premium and premium levy (if any) paid provided that no claim has been made under it. You must submit a written notice signed by you to China Life (Overseas) at 22/F, CLI Building, 313 Hennessy Road, Wan Chai, Hong Kong within 21 calendar days after the delivery of the policy or Notice of Policy Issuance (telling you about the availability of the policy and the expiry date of the cooling-off period) to you or your representative, whichever is earlier.

The premium will be paid to China Life (Overseas) and part of the premiums will become part of the assets of China Life (Overseas). The policyholder does not have any direct rights nor ownership over any of these assets. The policyholder’s rights are in accordance with the terms and conditions of the policy contract and policyholder’s recourse is against China Life (Overseas) only. Your policy is subject to the credit risk of China Life (Overseas). In the worst scenario, you could lose all of the premiums paid and benefits.

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

You can make partial withdrawal of the guaranteed cash value which would be regarded as the reduction on the basic amount. In such circumstances, the death benefit and the total cash value would be reduced accordingly. Or you can apply the policy loan where the maximum loanable value of the policy loan will be equal to a certain percentage, as determined and revised by China Life (Overseas) from time to time, of the policy’s cash value. Compounded interest at the rate per annum is determined and revised by China Life (Overseas) from time to time, will be charged on the policy loan. The interest rate of the policy loan is generally higher than loans offered by banks. For inquiry about current policy loan ratio and applicable interest and charges, please contact China Life (Overseas). If the policy loan with its accumulated interest equals to or exceeds the accumulated cash value in the policy, the policy will be automatically terminated and will lapse.

Fubon Bank (Hong Kong) Limited (“Fubon Bank") is an appointed licensed insurance agency for China Life (Overseas), and is responsible for the distribution of relevant insurance products. Fubon Bank shall not be responsible for any matters in relation to the terms and conditions of the policy contract of the Plan. The Plan is a product of China Life (Overseas) but not the product of Fubon Bank.

The Plan is underwritten by China Life (Overseas). China Life (Overseas) is responsible for the features, underwriting and benefit payments of the Plan.

China Life (Overseas) shall make the final decisions on the underwriting and claims. China Life (Overseas) shall rely on your submitted information to assess whether to accept or decline your application, and shall refund any premium and premium levy (if any) paid without interest for declined cases.

10.

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 or dispute is related to the Policy term, it should be resolved directly between China Life (Overseas) and you. Nevertheless, where practicable and appropriate, Fubon Bank will provide reasonable assistance to customers in the dispute resolution process.

11.

China Life (Overseas) accepts the full responsibility for the information contained in this webpage. The above information is for reference only. China Life (Overseas) suggests you to carefully consider whether the Plan is appropriate for you in view of your financial needs before application. You should not purchase the Plan unless you understand it. It should be explained to you that how this Plan is suitable for you. The final decision is yours.

12.

This above information is intended to be distributed in Hong Kong only and shall not be construed as any offer to sell or solicitation to buy or provision of any product outside Hong Kong.

13.

The Insurance Authority will collect a levy on insurance premiums (if any) from policyholders through China Life (Overseas) in accordance with the law. For further information about the levy imposed by the Insurance Authority, please refer to China Life (Overseas) Premium Levy introduction website or Fubon Bank Premium Levy introduction website.

Policy Information:

Dividend philosophy
Policyholders of participating insurance plans can enjoy the potential surplus arising from the long term operation of the participating fund via a form of non-guaranteed dividend in addition to the guaranteed benefits. Your premiums will usually be allocated into a relevant participating fund and will be invested in a variety of asset classes according to our investment strategy. We will manage the relevant participating fund in a prudent manner and aim to ensure a fair distribution of surplus and risks between policyholders and shareholders, and among different groups of policyholders.

As dividends are mainly affected by the overall performance of the participating business, in order to alleviate the volatility of achieved gains and losses and the future uncertainties, in particular, future investment returns, we may take moderate smoothing measures to achieve relatively more stable dividends and strive to meet policyholders’ reasonable expectation. We will maintain a fair distribution method or sharing ratio, and appropriate grouping to ensure policyholders are treated fairly, and to ensure policyholders’ benefit expectation and rights are protected.

The current dividend projection is not guaranteed. We will review and declare the dividend at least once a year. When determining the dividend, we will consider the overall performance of all relevant policies on factors including but not limited to past experience as well as future prospect of investment returns, claims and surrenders:

Investment return – including the interest income, dividend income, investment outlook and changes to asset values.
Claims – including the costs of providing death benefit as well as other benefits under the product(s).
Surrenders – including policy termination, partial surrenders and the corresponding experience and impact.

If there are any changes in the actual dividends against the illustration or to the projected future dividends, such changes will be reflected in the policy anniversary statement.

The declaration of actual dividends is recommended by the Appointed Actuary and is subject to the approval of the Board (including one or more Independent Non-Executive Director(s)).

For products that are associated with an element of non-guaranteed accumulation interest rate, the Company will consider past investment experience as well as future expected return and other related factors when determining this non-guaranteed interest rate. If there are changes from market, expectation or policyholder behavior, the Company may apply reasonable adjustments to the non-guaranteed interest rate.

Investment philosophy, policy and strategy
Our investment philosophy aims at containing volatility and providing long term stable return. Meanwhile, in order to control and diversify risks, maintain adequate liquidity, and achieve higher potential returns for policyholders under an acceptable risk appetite, we will invest in a wide range of asset classes with consideration of the status of assets and liabilities. The target asset mix may also differ between different participating products. We will actively manage the investment portfolio and adjust the asset mix in response to the external market conditions.

Currently, our investments include bonds and other fixed income assets, such as government and corporate bonds and other fixed income instruments, to support the guaranteed liability payment. To enhance the potential performance of the investment portfolio, the Company will invest in equity-type assets and other investment instruments such as private funds, mutual funds and direct/indirect investment in properties or commercial institutions. Subject to our investment policy, we may also utilise derivatives to manage risks (including but not limited to currency risk) and enhance returns, or use security lending to improve returns. The investment portfolio will be diversified across different geographic regions and / or industries.

China Life (Overseas)’s current investment strategy on this participating plan is as follows:

Asset type

Target asset mix (%)

Bonds and other fixed income instruments

30% to 90%

Equity-type investment and other investments

10% to 70%

Please refer to China Life (Overseas)’s website www.chinalife.com.hk/products/dividend-philosophy-and-investment-strategy for dividend history, dividend philosophy, investment strategy, as well as the fulfillment ratio of China Life (Overseas).

Policy loan
You can apply for the policy loan where the maximum loanable value of the policy loan will be equal to a certain percentage of the guaranteed cash value (currently 90% of guaranteed cash value), as determined and revised by China Life (Overseas) from time to time. Interest compounded at the rate per annum determined and revised by China Life (Overseas) from time to time will be charged on the policy loan. The interest rate of the policy loan is generally higher than loans offered by banks. For inquiry about the applicable interest and charges on the policy loan, please contact China Life (Overseas). All policy loans are interest-bearing and calculated at a rate (as stated on China Life (Overseas) website www.chinalife.com.hk) to be declared by us from time to time. Interest accrued shall become a part of the indebtedness. If the policy loan with its accumulated interest equals to or exceeds the accumulated guaranteed cash value in the policy, the policy will be automatically terminated and will become invalid. Policy loan will reduce the policy’s death benefit and surrender value.

Non-payment of premium / automatic premium loan
You should pay premium(s) on time according to the selected premium payment term. If the due premium(s) remains unpaid upon the expiry of the grace period, an automatic premium loan will be taken out against the policy to settle the unpaid premium automatically. All premium loans are interest-bearing and calculated at a rate (as stated on China Life (Overseas)’s website www.chinalife.com.hk) to be declared by us from time to time. Interest accrued shall become a part of the indebtedness. When the loan balance is equal to or exceeds the guaranteed cash value of the basic plan of the policy, the policy will be lapsed and you will lose the related benefits and suffer a financial loss. Under these circumstances, the surrender value of the policy will be deducted to repay the outstanding loan balance (including interest), and the remaining value will be refunded to you.

Exclusions and limitations
The information stated in the above information is for reference only. Please refer to the “general provisions” and “benefit provisions” for the detailed terms and conditions, and limitations such as incontestability, suicide and fraud, etc. or all exclusions, or contact the Bank’s staff for details.

What are the key product risks with the plan?

Credit risk:
This Plan is a life insurance policy issued by China Life (Overseas). Any premium paid will become part of our assets and our financial strength will affect our ability to meet our contractual obligations to you under the policy. Therefore, you are subject to our credit risk.

Early surrender risk:
The savings component of the Plan is subject to risks and possible losses. Should you surrender the policy early, you may receive an amount considerably less than the total amount of premiums paid.

Exchange rate and currency risks:
Any policy with foreign currencies involves risks, such as potential changes in political or economic conditions that may substantially affect the price or liquidity of a currency. The fluctuations in exchange rates may also cause financial losses to you during currency conversions. You should take exchange rate risk into consideration when deciding the policy currency.

The policy currency of the Plan offers HKD and USD. Currency exchange rate can go up and down. If the policy currency is USD but calculated in HKD, the calculation is subject to the exchange rate. There is a risk that you could lose a substantial portion of total value of the policy or benefit if the policy currency depreciates substantially against your local currency. China Life (Overseas) will base on the prevailing market-based exchange rate of that respective currency to the policy currency and / or from the relevant sources at the time of processing such conversion, which will be subject to change from time to time. Such exchange rate may be different from the exchange rate offered by the Bank.

Inflation risk:
The cost of living in the future may be higher than expected due to the effects of inflation. Therefore, your current projected benefits and / or returns may be insufficient to meet your future needs even if China Life (Overseas) fulfills all of our contractual terms and obligations.

Liquidity and withdrawal risk:
You are obliged to hold the policy and pay the premium(s) for the designated period of time. If you surrender the policy early, you may suffer a financial loss. In case you make partial withdrawals from the policy, your policy value, death benefit and other policy benefits will be affected, and you may need to pay the relevant handling fee (if any).

Non-guaranteed benefit:
The Plan consists of non-guaranteed benefits and / or return. The actual amounts of benefits and / or returns in the future may be different from the benefits and / or returns which project on the product materials. The product materials are for illustrative purposes only.

Policy termination:
The policy shall terminate upon the occurrence of any of the following events (whichever is the earliest): (a) the policy is surrendered; or (b) China Life (Overseas) has paid the death benefit in full; or (c) the due premium has not been paid within 31 days after the premium due date, and the policy has no remaining guaranteed cash value; or (d) the indebtedness of the policy is equal to or exceeds the guaranteed cash value of the policy; or (e) application of “policy split option” is approved by China Life (Overseas) and is effective.

Effective from 1 January 2018, all policyholders are required to pay a levy on each premium payment made for both new and in-force policies to the Insurance Authority (the “IA”). For premium levy details, please visit our website at www.chinalife.com.hk or contact our customer service hotline at (852) 3999 5519 or visit IA’s website at www.ia.org.hk.

Fubon Bank Integrated Customer Service Hotline

2566 8181

(Press 3 after language selection)

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