Endowment Insurance helps you to reach target saving.

Reach Insurance Plan
(The life insurance plan is underwritten by China Life Insurance (Overseas) Company Limited.)

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).

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

Terminal dividend¹ is a one-off non-guaranteed dividend, which is payable from the 6^th policy anniversary upon certain events.

Total amount of terminal dividend management account² is equivalent to locked-in terminal dividend and interest³ (if any) less withdrawal amount (if any).

*The actual amount of terminal dividend may change anytime, with the values being higher or lower than those illustrated. Under some circumstances, the non-guaranteed benefits may be zero.

5 years premium payment term with life 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 4% per annum (applicable to HKD and USD policies) or 2% per annum (only applicable to CNY policy).

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 dividend¹ (if any) through reducing the basic amount⁵, the policy value will be reduced accordingly while the total amount of terminal dividend management account² (if any) will remain unchanged.

Alternatively, you can apply for policy loan (only applicable to HKD and USD policies) to borrow part of the guaranteed cash value when needed, while keeping the policy in force. Interest on policy loan will be charged at a rate which is not guaranteed and 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 apply in order 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 non-guaranteed 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. You may also withdraw it for extra liquidity.

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, we will pay the beneficiary a death benefit which is equal to the higher of:

1)  105% of the accumulated premium due and paid of the Plan; 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 account² (if any), less all indebtedness (if any).

The prepaid premium balance and its interest (if any) will also be returned to the beneficiary without any fee.

The policy will be terminated after we pay the death benefit.

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 (for HKD policy) / USD62,500 (for USD policy)/ CNY400,000 (for CNY policy).

The total amount of accidental death benefit payable under all policies underwritten by China Life (Overseas) shall not exceed HKD1,000,000(for HKD policy) / USD125,000 (for USD policy) / CNY800,000 (for CNY policy),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, as long as the payment options of both benefits are the same. 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, helping you to safeguard your family’s financial future.

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 interest (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 (for HKD policy) / USD50,000(for USD policy) / CNY320,000 (for CNY policy), 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. 

Notes :

1.  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 the 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.

    Starting from the 6th policy anniversary, the terminal dividend shall be paid upon the occurrence of the earliest of the following conditions:

     (i) when the death benefit is paid (only applicable if the sum of guaranteed cash value and the terminal dividend of the Plan on the date of death of the insured is higher than 105% of the accumulated premium due and paid of the Plan);

     (ii) when the policy is surrendered; or

     (iii) when the policy reaches the policy maturity date.

2.  The minimum percentage for each locked-in terminal dividend under the terminal dividend management option is 10% and the aggregate percentage limit for locked-in terminal dividend is 50%. The option will only be exercised provided that the application fulfills the application requirement and is confirmed by China Life (Overseas). There is no limitation on the number of exercising this option and the aggregate percentage limit for locked-in terminal dividend is subject to change by China Life (Overseas) from time to time. But this option can only be exercised once every policy year. China Life (Overseas) will only process this option once for each written request. Should this option be exercised again afterwards, written request must be resubmitted. No application will be accepted if there is any indebtedness (if any) during application. The amount of locked-in terminal dividend is guaranteed after exercising this option successfully. Once the application is approved by China Life (Overseas), the terminal dividend which is applied to lock in will be transferred to the terminal dividend management account as soon as practicable and will become locked-in terminal dividend, which will accumulate with interest at a non-guaranteed rate.  China Life (Overseas) reserves the right to revise the rate from time to time.

    There may be a delay when exercising terminal dividend management option at the time of market volatility. The actual amount of the locked-in terminal dividend will only be determined after the application has been processed successfully by China Life (Overseas). Upon the completion of transferring the terminal dividend to the terminal dividend management account by China Life (Overseas) as per application, the terminal dividend (if any) of the relevant policy year will be reduced accordingly. The terminal dividend (if any) of subsequent policy years will be reduced accordingly with adjustment percentage subject to sole discretion of China Life (Overseas). Locked-in terminal dividend will not be allowed to be reset or reversed to terminal dividend. For details, please refer to the policy provisions.

3.  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 from time to time.

4.  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/USD25/CNY160. You can withdraw the unused prepaid premium once only. The interest rate of prepaid premium is 3% p.a. (applicable to HKD and USD policies) or 2% p.a. (only applicable to CNY policy) and this interest rate is guaranteed.

5.  “Basic amount” means the amount shown on the policy information page or endorsement as the “basic amount”. The “basic amount” is used to calculate the premium and relevant values of the policy, but 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 and relevant values of the policy will be adjusted accordingly. 

6.  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.

7.  Total surrender value includes guaranteed cash value, terminal dividend (if any) and total amount of terminal dividend management account (if any), less all indebtedness (if any).

More details about the Reach Insurance Plan, please refer to the Product Brochure.

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