Wealth Elite Saver 3

When it comes to building your wealth, you need a smart solution that will offer sufficient stability to provide extra security that you can depend on, yet build enough momentum to capture long-term growth potential.

Bringing together the best of both worlds, Wealth Elite Saver 3 (the “Plan”) helps you build your wealth with confidence. It provides a high Guaranteed Cash Value from Policy issuance so your wealth can begin accumulating immediately, along with non-guaranteed dividends for fruitful growth potential. The Plan also enables you to flexibly pass your legacy to future generations, while providing life protection to ensure that your loved ones will be cared for beyond your lifetime. You can choose to prepay all your premiums in a lump sum so you can budget for the future with certainty. Wealth Elite Saver 3 grows your wealth for a bright future, opening the way for infinite possibilities

Plan Highlights

Accumulate your wealth with high Guaranteed Cash Value and non-guaranteed dividends
Cash out your Special Dividend to realise current gains
Extend your legacy by changing the Insured Person
Cover the unforeseen circumstances with Successor Owners and Contingent Insured Persons
Split your Policy to spread your legacy among your loved ones
Sustain your legacy with the Flexi Continuation Option
Safeguard your loved ones with life protection
Choose the settlement option that suits you

Accumulate your wealth with high Guaranteed Cash Value and non-guaranteed dividends
Enhancing your wealth requires a multifaceted strategy, which is why Wealth Elite Saver 3 boosts your wealth accumulation journey with both Guaranteed Cash Value and non-guaranteed dividends, so you can accumulate greater wealth to support a fulfilling future for you and your loved ones.

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 1^st Policy Anniversary, the Plan will provide you with an Annual Dividend^1,2 on a yearly basis. You can choose to receive your Annual Dividend in cash or keep it in your Policy to accumulate interest³.
Non-guaranteed Special Dividend
To further enhance your potential returns, the Plan will provide a Special Dividend^1,4 starting from the 3^rd Policy Anniversary, which will be payable upon the death of the Insured Person⁵, Policy surrender or Policy maturity. It will also be partially payable upon the exercise of the Special Dividend Cash Out Option.

Cash out your Special Dividend to realise current gains
To realise the current gains from your Special Dividend^1,4, 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 when this option is exercised.

Extend your legacy by changing the Insured Person
Only the best plans will do for your loved ones. That is why, from the 1^st Policy Anniversary, you can exercise the Change of Insured Person Option⁶ as many times as you wish. Changing the Insured Person will change the Policy Term to age 138 of the latest Insured Person while leaving the Policy values unaffected under your Policy. That way, you may extend your wealth accumulation horizon and establish a lasting legacy for your family.

Cover the unforeseen circumstances with Successor Owners and Contingent Insured Persons
You can designate up to 2 Successor Owners⁷ and specify their sequence of succession. In the unfortunate event that the Policyowner passes away or is diagnosed with any Specific Illness⁸, the first Successor Owner in sequence can apply to become the new Policyowner. If the first Successor Owner fails to become the Policyowner, the second in sequence can apply. The new Policyowner will then have access to the rights and benefits under the Policy, ensuring the continuity of your legacy.

Similarly, you can designate up to 2 Contingent Insured Persons⁹ and specify their sequence of succession. In the unfortunate event that the Insured Person passes away, the first Contingent Insured Person in sequence can apply to become the new Insured Person. If the first Contingent Insured Person fails to become the Insured Person, the second in sequence can apply. This prevents Policy termination even if life takes an unexpected turn.

Split your Policy to spread your legacy among your loved ones
You take pride and joy in your growing family. As their numbers increase, you may wish to allocate parts of your wealth to different members. Starting from the 3^rd Policy Anniversary, you may apply to exercise the Policy Split Option by transferring part of the Nominated Amount of your Policy (“Original Policy”) into one or more new Wealth Elite Saver 3 Policies (“Split Policy(ies)”)¹⁰, according to the percentage(s) specified by you.

Once you have split your Original Policy, you may change the Insured Person and Policyowner of the Split Policy(ies). The Original Policy will remain in force with a Nominated Amount that has been reduced accordingly¹¹. That way, you can ensure that your wealth is spread among your family members as you wish, so they can look forward to a future filled with opportunities.

Sustain your legacy with the Flexi Continuation Option
If the worst-case scenario happens, you can ensure your loved ones receive financial support without your plan being interrupted. Starting from the 3^rd Policy Anniversary, you can apply for the Flexi Continuation Option. You will also need to designate Contingent Insured Person(s)⁹ during the lifetime of the Insured Person.

If the Insured Person passes away and a Contingent Insured Person is approved to become the new Insured Person, the Policy will remain in force with a Nominated Amount that is reduced according to your specified percentage^11,12. Meanwhile, a prorated Death Benefit⁵ that is attributable to the reduced portion of the Nominated Amount will be paid to your designated Beneficiary. That way, you can protect your loved ones while your wealth accumulates.

Safeguard your loved ones with life protection
To support your loved ones beyond your lifetime, Wealth Elite Saver 3 provides life protection up to age 138 of the latest Insured Person. In the unfortunate event of the death of the Insured Person, the Beneficiary will receive a Death Benefit⁵ which is equal to:

The higher of:
(i) 105% of the total premiums paid and due; or
(ii) Guaranteed Cash Value plus Special Dividend^1,4 (if any)
+ Accumulated Annual Dividends^1,2 and interest³ (if any)
- Indebtedness¹³(if any)

In case there is any Premium Prepayment Balance¹⁴ as at the death of the Insured Person, such balance will be paid together with the Death Benefit.

Choose the settlement option that suits you
You can choose how the Death Benefit⁵ and Premium Prepayment Balance¹⁴ (if any) will be paid to the Beneficiary¹⁵. The settlement options include:

Option 1:	A lump-sum payment
Option 2:	Regular payments¹⁶
Option 3:	Increasing regular payments¹⁶
Option 4:	A combination of a lump-sum payment and regular payments¹⁶

Furthermore, starting from the 1^st Policy Anniversary, you can apply to specify a date for when the Death Benefit payment will begin (“Start Date”). If the Insured Person passes away and the death claim is approved before the Start Date, the Death Benefit payment will be deferred until the Start Date and paid according to your chosen Death Benefit Settlement Option. Please refer to the Plan Summary for details of the Death Benefit Settlement Options and Start Date of Death Benefit.

Interest will accrue (i) on the Death Benefit amount for the period between the date the death claim is approved and the Start Date; and (ii) 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.

All of the settlement options above apply to the settlement amount upon Policy full surrender or Policy maturity. If Option 2, 3 or 4 is selected as the Surrender Benefit Settlement Option, the Policy must have been in force for a minimum of 5 years prior to full surrender.

Plan Summary

Issue Age	15 days to age 65 (age last birthday)
Policy Term	2 years
Policy Term	Up to age 138 of the latest Insured Person
Policy Currency	HKD / USD
Premium Mode	Annual / Annual with Prepayment^14,17
Minimum Nominated Amount	HKD100,000 / USD12,500
Premium Prepayment Interest	Guaranteed to be 3.5% p.a. on the Premium Prepayment Balance¹⁴ Will be used to settle future premiums
Guaranteed Cash Value	Payable upon the death of the Insured Person⁵, Policy surrender or Policy maturity
Non-guaranteed Annual Dividend^1,2	Available from the 1^st Policy Anniversary
Non-guaranteed Special Dividend^1,4	Available from the 3^rd Policy Anniversary Payable upon the death of the Insured Person⁵, Policy surrender or Policy maturity Partially payable upon the exercise of the Special Dividend Cash Out Option
Surrender Benefit	Guaranteed Cash Value + Accumulated Annual Dividends^1,2 and interest³ (if any) + Special Dividend^1,4 (if any) - Indebtedness¹³ (if any) In case there is any Premium Prepayment Balance¹⁴ as at Policy surrender, such balance less the Surrender Charge¹⁷ will also be paid 4 Surrender Benefit Settlement Options are available to choose from: Option 1: A lump-sum payment; Option 2: Regular payments¹⁶ made monthly, semi-annually, or annually for 5, 10, 20, or 30 years; Option 3: Increasing regular payments¹⁶: 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 Option 4: A combination of a lump-sum payment and regular payments¹⁶: A lump-sum payment of not less than 5% of the settlement amount first, and the remaining balance to be paid in regular payments¹⁶ made monthly, semi-annually, or annually for 5, 10, 20, or 30 years Options 2, 3 and 4 above are available provided that the Policy has been in force for a minimum of 5 years prior to full surrender
Maturity Benefit	Guaranteed Cash Value + Accumulated Annual Dividends^1,2 and interest³ (if any) + Special Dividend^1,4 (if any) - Indebtedness¹³ (if any) The Surrender Benefit Settlement Options are also applicable to the settlement amount at Policy maturity
Death Benefit⁵	The higher of: (i) 105% of the total premiums paid and due; or (ii) Guaranteed Cash Value plus Special Dividend^1,4 (if any) + Accumulated Annual Dividends^1,2 and interest³ (if any) - Indebtedness¹³ (if any) In case there is any Premium Prepayment Balance¹⁴ as at the death of the Insured Person, such balance will be paid together with the Death Benefit 4 Death Benefit Settlement Options are available to choose from: Option 1: A lump-sum payment; Option 2: Regular payments¹⁶ made monthly, semi-annually, or annually for 5, 10, 20, or 30 years; Option 3: Increasing regular payments¹⁶: 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 Option 4: A combination of a lump-sum payment and regular payments¹⁶: A lump-sum payment of not less than 5% of the settlement amount first, and the remaining balance to be paid in regular payments¹⁶ made monthly, semi-annually, or annually for 5, 10, 20, or 30 years Starting from the 1^st Policy Anniversary, Policyowner can apply to specify a date for when the Death Benefit payment will begin (“Start Date”). If the Insured Person passes away and the death claim is approved before the Start Date, the Death Benefit payment will be deferred until the Start Date and paid according to the chosen Death Benefit Settlement Option. The Start Date must be 3 years after and within 30 years from the approval of relevant application. Please refer to the Risk from Deferred Payment of Death Benefit under the Key Product Risks section below for more details If there is no Start Date specified, the death claim is approved after the Start Date, or the Insured Person passes away after the Start Date, the Death Benefit and the Premium Prepayment Balance (if any) will be paid according to the chosen Death Benefit Settlement Option immediately upon approval of the death claim
Application Procedure	No health declaration required¹⁸

Remarks:

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

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 of 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.

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

⁴

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.

⁵

Upon the death of the Insured Person, the Death Benefit including the non-guaranteed Special Dividend (i) will not be payable if the Contingent Insured Person Option takes effect, but the Flexi Continuation Option does not take effect; or (ii) will be partially payable if the Contingent Insured Person Option and Flexi Continuation Option both take effect.

⁶

The Policyowner may apply to change the 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.

⁷

The designation of Successor Owner(s) 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.

⁸

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.

⁹

The designation of Contingent Insured Person(s) 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 Insured Person, 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.

¹⁰

Provided that (i) there is no Indebtedness under the Policy; (ii) no other Policy changes resulting in a reduction in the Nominated Amount will take effect on the same Policy Anniversary as the Policy split; and (iii) subject to the minimum Nominated Amount requirement, an application may be made to split the Policy. The Policy split shall take effect on the next Policy Anniversary. Based on the specified Split Percentage(s), part of the Nominated Amount and accumulated Annual Dividends and interest (if any) of the Original Policy will be transferred to the Split Policy(ies). The Premium, Guaranteed Cash Value, Annual Dividend (if any) and Special Dividend (if any) under the Split Policy(ies) will be calculated based on the Nominated Amount of the Split Policy(ies). Upon approval of the Policy split, the Policy Date, Maturity Date, Policy Year, Policyowner, Insured Person, Beneficiary(ies), Successor Owner(s) (if any) and Contingent Insured Person(s) (if any) of the Split Policy(ies) will be the same as those of the Original Policy. If the Special Dividend Cash Out Option has been exercised under the Original Policy, the aggregate cash-out percentage prior to the Policy split will be recorded to each Split Policy. The maximum aggregate cash-out percentage under the Original Policy and Split Policy(ies) will be calculated separately after the Policy split. All benefits, terms and conditions of the Original Policy will apply to the Split Policy(ies), except that Split Policy(ies) have no Cooling-off Period. Once the Policy Split Option is exercised, it cannot be reversed. Please refer to the Policy Provisions for details.

¹¹

The Nominated Amount will be reduced with respect to (i) an Original Policy after a Policy split; (ii) a Policy after the Flexi Continuation Option is exercised and (iii) a Policy after a withdrawal is made through partial surrender, subject to the minimum Nominated Amount requirement. The accumulated Annual Dividends and interest (if any) will also be reduced with respect to (i) and (ii). With a reduction in the Nominated Amount, the Guaranteed Cash Value, Annual Dividend (if any) and Special Dividend (if any) under the Policy will be reduced in proportion and the Surrender Benefit, Maturity Benefit and Death Benefit will also be reduced accordingly.

¹²

If the Special Dividend Cash Out Option has been exercised before the Flexi Continuation Option becomes effective, the aggregate cash-out percentage will remain the same under the Policy.

¹³

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

¹⁴

An amount equivalent to the 2^nd Policy Year’s annual premium shall be deducted from the Premium Prepayment Balance on the relevant 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.

¹⁵

Upon the Policyowner’s request while the Policy is in force, the Beneficiary(ies) are allowed to apply for a change of the Death Benefit Settlement Option and / or a revocation of Start Date (if any) for the Death Benefit payment belonging to those Beneficiary(ies) after the death of the Insured Person. Please refer to the Policy Provisions for details.

¹⁶

For the settlement amount to be paid at regular intervals upon (i) the death of the Insured Person; (ii) Policy surrender; or (iii) Policy maturity, the amount payable to each Beneficiary or to Policyowner must be equal to or more than HKD400,000 / USD50,000. Please refer to the Policy Provisions for details.

¹⁷

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.

¹⁸

Fubon Life Hong Kong has set a limit to the total premiums of insurance policies in respect of the same type of insurance product for each Insured Person (as determined and revised by Fubon Life Hong Kong from time to time). No health declaration of the Insured Person is required as long as the purchase of the Policy does not exceed such limit. Fubon Life Hong Kong reserves the right to accept or reject any applications for the Plan based on the information provided by the Insured Person during application.

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 hour: Monday to Friday: 9am to 7pm; Saturday: 9am to 1pm (except public holidays).

Warning Statement
Wealth Elite Saver 3 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-case 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 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 in case of the death of the Insured Person 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. However, you cannot reduce the Nominated Amount and exercise the Policy Split Option on the same Policy Anniversary.

Cooling-off Period (Not applicable to Split Policy(ies))

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 of Fubon Life Hong Kong, 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.

Fubon Life Hong Kong will review the Annual Dividend and Special Dividend 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 dividend scale, you will be informed in writing by Fubon Life Hong Kong 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 “Fulfillment 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 from Deferred Payment of Death Benefit

You should consider the inflation risk when specifying a Start Date for the Death Benefit payment. If the Insured Person passes away and the death claim is approved before the Start Date, the commencement of Death Benefit payment will be deferred until the Start Date. The longer the deferral period, the higher the inflation risk. It is because, due to inflation, the future costs of living may be higher than those of today. The Death Benefit provided under the Policy may not be sufficient to meet the future needs of Beneficiary(ies).

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 will 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 will 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 Insured Person provided that the Contingent Insured Person 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 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 (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 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 will 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 (a) the Death Benefit amount for the period between the date the death claim is approved and the Start Date; and (b) the remaining balance of the settlement amount at (i) the death of the 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-case 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 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 Hong Kong 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 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 of the insurance product, it should be resolved directly between Fubon Life Hong Kong and you. Nevertheless, where practicable and appropriate, Fubon Bank will provide reasonable assistance to customers in the dispute resolution process.

Fubon Bank Integrated Customer Service Hotline

2566 8181

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