Underwritten by China Life Insurance (Overseas) Company Limited ("China Life (Overseas)"), Reach Insurance Plan (the “Plan”) provides potential long-term capital growth with guaranteed cash value, non-guaranteed terminal dividend¹ (if any) and the total amount of terminal dividend management account² (if any). The Plan allows you to establish your financial pool, you can plan for the future with ease.

Plan Features

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 3 components: guaranteed cash value, non-guaranteed terminal dividend¹ (if any) and total amount of terminal dividend management account² (if any).

Short premium payment term with protection for 38 years
By paying 5 years’ premium, you can enjoy life protection of the insured for 38 years. You can choose annual and premium prepayment mode⁴ to prepay the premiums to enhance your return, with a guaranteed interest rate of 3% (applicable to HKD and USD policies) or 2% (applicable to RMB policies) per annum.

Flexible access to your wealth for matching your needs
To realize your financial goals, you can partially withdraw the guaranteed cash value and non-guaranteed terminal dividend (if any) through reducing the basic amount⁵, while the account value will be reduced accordingly while the total amount of terminal dividend management account (if any) will remain unchanged.

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 China Life (Overseas) from time to time.

Terminal dividend management option to help you lock in gains
To facilitate your financial need, you can choose to exercise terminal dividend management option² within 30 days starting from every policy anniversary (including the date of policy anniversary) to lock in gains from part of your non-guaranteed terminal dividend (if any) starting from the 15^th policy anniversary and every policy anniversary thereafter so as to respond to market fluctuation. The terminal dividend which is applied to lock in will be transferred to the terminal dividend management account and will become locked-in terminal dividend. The locked-in terminal dividend will then be guaranteed and will accumulate with interest³ at a non-guaranteed rate. China Life (Overseas) reserves the right to revise the rate from time to time.

Life protection provides peace of mind to your loved ones
A. Death benefit
In case the insured passes away when the policy is in force, China Life (Overseas) will pay the beneficiary a death benefit which is equal to the higher of:

1. 105% of the accumulated premium due and paid; or
2. sum of guaranteed cash value and non-guaranteed terminal dividend¹ (if any) of the Plan at the date of death of the insured,

plus the total amount of terminal dividend management account (if any), less all indebtedness (if any).

The prepaid premium balance will also be fully refunded. The policy will be terminated after the death benefit has been paid by China Life (Overseas).

B. Accidental death benefit
While the policy is in force, prior to the policy anniversary that the insured reaches age 66 and within the first 10 policy years from the policy effective date, if the insured suffers an injury caused by an accident, and dies from such injury within 180 days (both dates inclusive) from the date of such occurrence, the Plan will pay the beneficiary an extra accidental death benefit which is equal to the lower of:

1. 100% of the accumulated premium due and paid; or
2. HKD500,000 / USD62,500 / RMB400,000.

The total amount of accidental death benefit payable under all policies underwritten by the Company shall not exceed HKD1,000,000 / USD125,000 / RMB800,000 or equivalent amount in other currencies for the same insured.

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

For the instalment option, the remaining balance of death benefit and accidental death benefit (if any) 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 China Life (Overseas) from time to time. The accumulated interest³ (if any) will be paid together with the last instalment of death benefit and accidental death benefit (if any). If the beneficiary dies during the settlement period of the death benefit and accidental death benefit (if any), China Life (Overseas) will pay the remaining balance of the death benefit and accidental death benefit (if any) with interest (if any) in a lump sum payment to the estate of the deceased beneficiary.

If the death benefit at the date of the insured’s death is less than HKD400,000 / USD50,000 / RMB320,000, or the policyholder does not specify any settlement option, China Life (Overseas) 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. Simplified underwriting procedures are available and no medical examination is required.

Enrollment Terms

Enrollment Terms

Notes:

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 relevant 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.

1.  The Plan is a life insurance plan (including guaranteed cash value 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. 2.  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. 3.  Cooling-off right - 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. 4.  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. 5.  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. 6.  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. 7.  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. 8.  The Plan is underwritten by China Life (Overseas). China Life (Overseas) is responsible for the features, underwriting and benefit payments of the Plan. 9.  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 contractual terms of the product, 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.  The above information shall not be construed as any offer to sell or solicitation to buy or provision of any product outside Hong Kong. 13.  Exclusions and limitations – applicable to “accidental death benefit” The Plan shall not cover any claims if the insured is involved in any of the following activities or the consequences directly or indirectly caused by wholly or partly any of the following events occur in respect of the insured: congenital illnesses or intrinsic illnesses existed before applying for the Plan; engage or in any way involved in any acts or activities that violate any laws or regulations of Hong Kong or the laws of the place where the insured stays; war, act of hostility (whether war declared or not), civil war, revolution, rebellion, civil commotion, riot, strike, activities of terrorism or any military actions; the insured is serving in the military services, including but not limited to where the Insured is engaging in or taking part in military service during the time of war, act of hostility (whether war declared or not), any military actions or repression of rebellion; contamination resulting from nuclear weapons, ionizing radiation, nuclear fuel or waste produced from the combustion of nuclear fuel (the said nuclear combustion shall include any self-sustaining process of nuclear fission); directly or indirectly caused by the insured engaging in aviation, except as a passenger on an aircraft of a commercial airline on a scheduled route; self-inflicted injuries or suicide (whether sane or not) by or attempted by the insured (whether felony or not) or deliberate exposure to exceptional danger (except in an attempt to save human life); childbirth, pregnancy, miscarriage or abortion, even if it is accelerated or induced by an accident; treatment operated on the insured and induced by disease, infected disease or incident that is not caused by an accident; taking of poison or inhaling poisonous gas or poisonous mist (whether voluntary or not); except accidental inhaling by the insured in a fire; the insured as a professional athlete participating in sports or earning income or remuneration through the sports; participating in hunting, mountaineering, motor racing, horse racing, ice-skiing, skiing, scuba-diving, parachuting, hang-gliding, boxing or any other competitions or performances; while the insured is on duty as a professional driver and is entering, driving, operating, servicing, riding in or departing from any land vehicle or conveyance outside the territorial limits of Hong Kong and Macau; the insured is assaulted or murdered during rebellion, civil commotion, strikes or when making an arrest while the insured: is employed as a full-time or part-time police officer/cadet officer, or an officer or a member of the Correctional Services Department; or is on duty with the above mentioned occupation; the insured is assaulted or murdered during rebellion, civil commotion or strikes while the insured: is employed as a fireman; or is on duty as a fireman and is engaging in firefighting or activities for protecting people and property in a fire; or disappearance of the insured, except including but not limited to the situation when the ship which the insured is taking or the aircraft which the insured is taking as passenger has totally disappeared. 14.  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:

1.  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. 2.  Investment 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 utilize derivatives to manage risks 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 for dividend history, dividend philosophy, investment strategy, as well as the fulfillment ratio of China Life (Overseas).   3.  Policy loan (only applicable to HKD and USD policies) 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 the Bank’s staff. All policy loans are interest-bearing and calculated at a rate (as stated on China Life (Overseas)'s website) to be declared by China Life (Overseas) 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 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.   4.  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 China Life (Overseas) 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 lapse 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.   5.  Payout of maturity benefit The Plan’s maturity benefit will be payable after the policy maturity date and receipt of all necessary documents by China Life (Overseas). The actual processing time required will depend on the payment collection method you selected. For details about the collection of maturity benefit, please refer to China Life (Overseas)’s website or call China Life (Overseas) customer service hotline at 3999 5519.   6.  Exclusions and limitations The information stated in the above information is for reference only. Please refer to “general provisions” and “benefit provisions” or contact the staff of Fubon Bank for the exact terms and conditions, all exclusions and limitations such as incontestability clause, suicide and fraud, etc.

What are the key product risks with the plan? Credit risk The Plan is a life insurance policy issued by China Life (Overseas). Any premium paid will become part of the assets of China Life (Overseas) and the financial strength will affect the ability to meet China Life (Overseas)’s contractual obligations to you under the policy. Therefore, you are subject to China Life (Overseas)’s 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 you should take. The policy currency of the Plan offers HKD, USD and RMB. Currency exchange rate can go up and down. If the policy currency is USD or RMB 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. Renminbi is currently not freely convertible and conversion of Renminbi in Hong Kong is subject to certain restrictions. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time. You should allow sufficient period for the conversion. 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 prior to the policy maturity date, you may suffer a financial loss. In case you make partial withdrawals from the policy, your account value, death benefit and other policy benefits will be affected, and you may need to pay the relevant fee or charges (if any). Non-guaranteed benefit The Plan consists of non-guaranteed benefits and/or returns. 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 will be terminated if (a) the policy is lapsed or surrendered; or (b) China Life (Overseas) has paid the policy maturity benefit; or (c) China Life (Overseas) has paid the death benefit in full; or (d) 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 (e) the indebtedness of the policy is equal to or exceeds the guaranteed cash value of the policy. 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 China Life (Overseas)’s website or call China Life (Overseas)'s customer service hotline at 3999 5519, or visit IA's website.