Your browser version is out dated.For optimal viewing, Please update the browser to the latest versions.(Update now)!
Current Location >> Personal Banking>> Insurance>> Life Insurance>> Whole Life Insurance

Whole Life Insurance protects you at every stage of life

We face a lot of uncertainties and risks everyday. Life Insurance protects your family in the event of your death. We offer a range of life insurance products to suit your protection needs at every stage of life.




Wealth Insurance Plan (5)
(The life insurance plan is underwritten by China Life Insurance (Overseas) Company Limited.)

Plan Features
  • 5 years' premium payment term with life protection till age 100 of the Insured
    By paying 5 years' premium, you can enjoy life protection till age 100 of the insured. You can choose annual and premium prepayment mode1 to prepay the premiums to enhance your return, with a guaranteed interest rate of 2% per annum.


  • Guaranteed cash coupons to accumulate your wealth
    While this policy is in force, provided that all due premiums have been fully paid by the policyholder and the insured still survives, you will receive a guaranteed cash coupon on each anniversary, the amount is equivalent to 2% of the basic amount2. You may withdraw3 the guaranteed cash coupons or leave them in your policy to earn interest4 (if any) to further boost your return.


  • Flexible use of non-guaranteed dividends
    While the policy is in force, provided that all due premiums have been fully paid by the policyholder and the insured still survives, you will also receive a non-guaranteed dividend4 on each policy anniversary. The Plan provides you flexibility to choose to withdraw3 the non-guaranteed dividends (if any) in cash or accumulate in your policy to earn interest4 (if any) .


  • Terminal dividend
    The Plan also provides non-guaranteed terminal dividend5 which is a one-off dividend payable on or after the 18th policy anniversary upon policy surrender, policy maturity or when China Life (Overseas) pays the death benefit (whichever is the earliest).


  • Maturity benefit
    The Plan provides maturity benefit which is equivalent to the basic amount2, accumulated guaranteed cash coupons and interest4 (if any), accumulated non-guaranteed dividend4 and interest4 (if any) and non-guaranteed terminal dividend5 (if any), less all indebtedness (if any) upon policy maturity. This will help you realize your financial goals.


  • Life protection for your peace of mind
    In the unfortunate event of the death of the insured while the policy is in force, a death benefit will be payable to the beneficiary. The amount is equivalent to:

    1) the higher of

    • 101% of the accumulated premium due and received (after deduction of the cash coupons paid); or
    • the guaranteed cash value on the date of death of the insured;
    2) plus accumulated guaranteed cash coupons and interest4 (if any);
    3) plus accumulated non-guaranteed dividends4 (if any) and interest4;
    4) plus non-guaranteed terminal dividend5 (if any);
    5) less all indebtedness (if any).

  • Simplified underwriting for easy application
    The Plan provides you with simplified underwriting of which medical check-up is not required, accommodating your protection and financial needs with ease.

Notes:

  1. 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 or USD25. You can withdraw the unused prepaid premium once only. The interest rate of prepaid premium is 2% p.a. and this interest rate is guaranteed.
  2. "Basic amount" means the amount shown on the policy information page or endorsement as the "basic amount". The "basic amount" is used to calculate premium and relevant values of the policy, 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, premium, guaranteed cash value, guaranteed cash coupons, non-guaranteed dividends (if any) and non-guaranteed terminal dividend (if any) will be adjusted accordingly.
  3. You may withdraw the cash coupons and / or dividends at any time without any charge, however, the policy value and death benefit will be affected in case of withdrawal of cash coupons and / or dividends.
  4. Dividends and interests are not guaranteed. The actual benefits and / or returns may be lower or higher than the estimates. China Life (Overseas) reserves the right to revise from time to time. The actual amount of dividends is subject to the overall performance of China Life (Overseas)'s participating business, including investment returns and claims, etc.
  5. Terminal dividend is a one-off dividend and is not permanently attached to the policy. It is non-guaranteed. Subject to change depending on various factors, the amount of the terminal dividend may be lower or higher when declared.

More details about the Wealth Insurance Plan (5), please refer to the Product Brochure.




    Back to the top



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

    Plan Features
    • Flexible payment term to fit your needs
      Four premium payment terms are available for you. You can select the premium payment terms of 5 years, 10 years, 15 years or 20 years1 according to your own financial status so as to achieve your financial goals easily. Besides, you can choose annual and premium prepayment2 to prepay the premiums and the prepaid premiums will be accumulated with a non-guaranteed interest rate offered by China Life (Overseas).


    • Guaranteed cash coupons to accumulate your wealth
      The Plan provides you with guaranteed cash coupons at the 5th, 10th, 15th and 20th policy anniversaries (depends on the premium payment term) and the total amount payable throughout the whole benefit term is equivalent to 100% of the sum assured. You may withdraw3 the guaranteed cash coupons or leave them in your policy to earn interest. The prevailing accumulation interest rate is 4.5% p.a. (non-guaranteed)4.


       Premium payment term
       Guaranteed cash coupon amount (based on the sum assured) / policy anniversary
      5th Year 10th Year 15th Year 20th Year
       5 50% 50% N/A N/A
       10 35% 65% N/A N/A
       15 25% 25% 50% N/A
       20 15% 15% 15% 55%


    • Non-guaranteed dividends give you flexibility
      In addition to the guaranteed cash coupons and life protection, you can also receive the non-guaranteed dividends4 which are distributed by China Life (Overseas) on each policy anniversary whilst the policy is in force. You can choose to receive the non-guaranteed dividends4 in cash3 or accumulate in the policy to earn interest until policy maturity. The prevailing accumulation interest rate is 4.5% p.a. (non-guaranteed)4.


    • Maturity benefit
      The Plan offers protection till age 100 of the insured. You can receive a maturity benefit equivalent to sum assured, accumulated guaranteed cash coupons with interest (if any) and accumulated non-guaranteed dividends with interest (if any), less all policy indebtedness (if any) upon policy maturity.


    • Life protection for your peace of mind
      In the unfortunate event of the death of the Insured while the policy is in force, death benefits will be payable to the beneficiary equivalent to:

      Sum assured or the guaranteed cash value at the date of death of the insured or accumulated premium due and received less guaranteed cash coupons paid (whichever is higher) + accumulated guaranteed cash coupons and interest (if any) + accumulated non-guaranteed dividends and interest (if any) - all indebtedness (if any).

    • Accidental death benefit
      Within the premium payment term, the Plan provides accidental death benefit equivalent to the sum assured (with a maximum sum assured of up to HKD 2,000,000 / USD 250,000). The accidental death benefit is only applicable to the insured with issue age from 6 to 60 and the insured is required to fulfill the designated occupation class and the relevant conditions. For exclusions of this benefit, please refer to the policy provisions.

     

    Notes:

    1. 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 less than the total amount of premium paid.
    2. 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 2% of the withdrawal amount, at a minimum amount of HKD 100 or USD 12.5. You can withdraw the unused prepaid premium once only. The interest rate of prepaid premium is 3% p.a. and this interest rate is not guaranteed.
    3. You may withdraw the guaranteed cash coupons and / or non-guaranteed dividends at any time without any charge, however, the policy value and death benefit will be affected in case of withdrawal.
    4. Non-guaranteed dividends and interest are not guaranteed. The actual benefits and / or returns may be lower or higher than the estimates. China Life (Overseas) reserves the right to revise the non-guaranteed dividends and rate of interest from time to time. The actual amount of non-guaranteed dividends is subject to the overall performance of China Life (Overseas)'s participating business, including investment returns and claims, etc.

    More details about the Rainbow Age Whole Life Plan, please refer to the Product Brochure.

    Back to the top

    MaxFocus Signature Insurance Plan

    (The life insurance plan is underwritten by FWD Life Insurance Company (Bermuda) Limited(Incorporated in Bermuda with limited liability).)

    Plan features

    • Growth participating policy to capture long-term wealth growth opportunities
      MaxFocus Signature Insurance Plan is a growth participating insurance plan. The policy values of the plan comprise of Guaranteed Cash Value, Annual Dividend2 (non-guaranteed) and Special Bonus2 (non-guaranteed). With a relatively high allocation in equity type investments, it aims to bring higher potential higher returns while enjoying a stable dividend distribution.


    • Professional investment management to boost dividend potential growth in the long term
      MaxFocus Signature Insurance Plan aims to help customers achieve higher long-term wealth potential growth by adopting a balanced asset allocation investment strategy. The portfolio is managed by a professional investment team and is invested across different regions and industries to achieve investment diversification. For details, please refer to the section of Dividend / bonus information and Investment Strategy.


    • Easy planning with multiple premium payment terms
      The plan allows you to choose USD or HKD as the policy currency over a premium payment term of 2 years, 5 years or 10 years based on your needs. You may also pay the premium in advance by using the Premium Deposit Account4 to accommodate with your financial planning.


    • Flexible cash withdrawal for your financial needs

      You may choose to withdraw the cash from the policy anytime based on your needs

      1. One-off withdrawal or exercise the Regular Withdrawal Service6 after the end of the premium payment term to withdraw the accumulated Annual Dividend2 and interest3 (if any).
      2. You may also choose to withdraw the Guaranteed Cash Value and Special Bonus2 (if any) through partial surrender. For details, please refer to the Partial Surrender Benefit under the Summary of Plan Features.

    • Easy application to kick off your wealth plan
      MaxFocus Signature Insurance Plan is simple to apply and medical examination5 is generally not required for new policy application.

    • Unlimited times for Change of Insured7 for endless wealth inheritance
      You may exercise the Change of Insured Option7 after the end of the 1st policy year for unlimited times while the Insured is alive. The policy term will then be changed to age 1381 (age next birthday) of the new Insured, maintaining inherited wealth through generations.

    • Contingent Insured8 and Contingent Policy Owner9 for continuous policy extension
      You may nominate a Contingent Insured8 while the Policy is in force and the Insured is alive. In the event of death of the Insured after the end of the 1st policy year, the nominated Contingent Insured8 will automatically become the new Insured, eliminating the possibility of policy termination resulting from unexpected death of the original Insured. In addition, you can nominate a Contingent Policy Owner9 while the Policy is in force so that the Policy can be managed by the Contingent Policy Owner9 in the event of accidental death of the original Policy Owner, sustaining the passing on of your legacy.

    • Death Benefit Settlement Option10 for flexible wealth allocation
      To provide greater flexibility in your wealth allocation, you may choose the Death Benefit Settlement Option10 for the payment of Death Benefit in the form of a lump sum payment or regular installments (annually/monthly), or a mix of both if the Insured passed away. You may also set the installment term and amount in advance so that your beneficiary can receive the Death Benefit in the way chosen by you while the remaining amount will be left in our company to accumulate interest (non-guaranteed) until the full amount has been paid to the beneficiary.


    Notes:
    1. Age is based on the next birthday age and the policy term to age138 is referring to the next birthday of 138 of (i) the Initial Insured or (ii) the latest Insured if the Initial Insured is changed.
    2. The Annual Dividend (if any) and Special Bonus (if any) are based on FWD Life Insurance Company (Bermuda) Limited (Incorporated in Bermuda with limited liability) (“FWD”, "The Company")'s current scales which are not guaranteed and are determined at least annually and may be adjusted more frequently than annually based on a series of factors including but not limited to market conditions, investment outlook, expenses, policy persistency, claims experience, and FWD's investment return. The Special Bonus (if any) will be payable under the Policy upon the death of the Insured, partial surrender of the Policy, making regular withdrawal exercising the value conversion option, surrender of the Policy, maturity of the Policy or at the end of the one year reinstatement period if the Policy lapses and is not reinstated within the period. The actual amount payable may change anytime, with the values being higher or lower than those illustrated. Under some circumstances, the non-guaranteed benefits may be zero. For details, please refer to the section of Dividend / bonus information and Investment Strategy under “Important Notes and Declarations”.
    3. The interest rate with FWD is not guaranteed. The interest rate is determined by FWD from time to time at its absolute discretion.
    4. To make application for a deposit to the Premium Deposit Account, a completed and signed prescribed form should be submitted to FWD. The form can be obtained from your Advisor or from FWD. Please refer to your Advisor or FWD for more information of the Premium Deposit Account.
    5. Medical examination is generally not required for new policy application if the total notional amount does not exceed the aggregate per life limit set by FWD subject to FWD’s prevailing rules and regulation. Normal underwriting and additional premium are required for any rider(s) attached to this Policy.
    6. After the premiun payment term, you can apply for the Regular Withdrawal Services. When the application is approved, the selected withdrawal amount will be directly debited to the assigned account. Any amount withdrawn will be taken from the accumulated Annual Dividends2(if any) and its interest3 (if any). If there is not enough value in the accumulated Annual Dividends2 (if any) and its interest3 (if any), the withdrawal will be taken from the Guaranteed Cash Value and Special Bonus2 (if any) as a partial surrender. As a result, the notional amount may be reduced. The Guaranteed Cash Value, future non-guaranteed Annual Dividend2 (if any) and Special Bonus2 (if any), as well as your Death Benefit, will be reduced accordingly.
    7. After the end of 1st Policy Year and the insured is alive, you can apply in writing to change the Insured which will not have any effect on the Notional Amount, Total Cash Value, Guaranteed Cash Value, Special Bonus2, Annual Dividend2 (if any) and its interest3 (if any) or Policy Years. The age of new proposed Insured should be age 1-75 (2 years and 5 years premium payment term) or age 1-70 (10 years premium payment term). The new Insured must have an insurable interest with the policy owner. All riders (if any) will be cancelled after Insured is changed and no riders can be attached afterwards.
    8. Any nomination of the Contingent Insured must fulfill FWD's relevant policies and procedures as determined in FWD's sole discretion from time to time. The age of Contingent Insured at application should fulfill the issue age requirement. Only one person can be named as the Contingent Insured each time. The Contingent Insured must have an insurable interest with the Policy Owner. Upon the death of the Insured, the Contingent Insured will become the Insured provided that the Policy has been in effect for 1 policy years, and subject to FWD's approval based on relevant policies and procedures as determined in FWD's sole discretion from time to time. The Contingent Insured should be alive and fulfill the issue age requirement and have an insurable interest with the Policy Owner upon FWD's approval. Any rider(s) attached to this Policy will be terminated at the time of change of Insured.
    9. Any nomination of the Contingent Policy Owner must fulfill FWD's relevant policies and procedures as determined in FWD's sole discretion from time to time. The age of the Contingent Policy Owner at application should be higher than the minimum age FWD accepted. Only one person can be named as the Contingent Policy Owner each time. Upon the death of the initial Policy Owner, the Contingent Policy Owner will become the Policy Owner subject to FWD's approval based on relevant policies and procedures as determined in FWD's sole discretion from time to time and that the Contingent Policy Owner is alive upon FWD's approval.
    10. You may apply for the approval of Death Benefit Settlement Option which to pay the Death Benefit in the form of a lump sum payment or regular installments (annually/monthly), or a mix of both after the death of the Insured if the Policy is in effect and the Insured is alive.

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

    Back to the top

    Peaceful Age Whole Life Plan

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

    Plan Features

    • Flexible choices to fit your needs
      The Plan offers 6-year, 8-year, 10-year or 12-year premium payment term1 for you to select according to your own financial status. You can achieve your financial goals and enjoy whole life protection easier.

    • Non-guaranteed dividends to boost your return
      On top of life protection, you can receive the dividends2 (non-guaranteed) at each policy anniversary whilst the policy is in force. You may either accumulate the paid dividends2 (non-guaranteed) in your policy to earn interest2 (default option) or withdraw them in cash3 (if any).

    • Maturity benefit
      The Plan offers protection till age 100 of the insured. You can receive a maturity benefit equivalent to sum assured, and accumulated dividends2 (non-guaranteed) with interest2 (if any), less all indebtedness (if any) upon policy maturity.

    • Life protection
      In the unfortunate event of the death of the insured whilst the policy is in force, a death benefit is payable to the beneficiary. The amount is equivalent to the sum assured plus accumulated dividend and interest2,3 (if any), less all indebtedness (if any).

    • Waiver of premium benefit when the unexpected strikes
      In the unfortunate event of the insured’s total and permanent disability for an uninterrupted period of not less than 180 days during the premium payment term, the premium due for the basic plan within the period of disability shall be waived (subject to the terms and conditions of the policy, please refer to the policy document for details).

    • Optional benefits for better protection
      Based on your personal needs, you can choose to add optional benefits for better and more comprehensive protection (subject to the relevant terms and conditions).


    Notes:
    1. 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 premium paid.
    2. Dividends and the accumulated interest rate are not guaranteed. The actual benefits and / or returns may be lower or higher than the estimates. China Life (Overseas) reserves the right to revise the dividends and rate of interest from time to time. The actual amount of annual dividends is subject to the overall performance of China Life (Overseas)’s participating business, including investment returns and claims, etc.
    3. You may withdraw the dividends (non-guaranteed) at any time without any charge, however, the policy value and death benefit will be affected in case of withdrawal.
    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 2% of the withdrawal amount, at a minimum amount of HKD100 or USD12.5. You can withdraw the prepaid premium once only. The interest rate of prepaid premium is 3% p.a. and this interest rate is not guaranteed.

    More details about the Peaceful Age Whole Life Plan, please refer to the Product Brochure.

    Back to the top

     

     

    Wealth ICON Supreme Insurance Plan

    (The life insurance plan is underwritten by FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability).)

    Plan Features

    • Capture potential growth on your savings with peace of mind
      Wealth ICON Supreme Insurance Plan is conceived to secure your assets with addition of medium-to-long-term growth opportunities. Offering a comprehensive benefit - a guaranteed cash value, annual dividends (non-guaranteed) and special bonus (non-guaranteed), it will give you the versatility you need to expand on your financial achievement for your dreams or a fulfilling retirement*.

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


    • Convenience of one-time premium for easy planning
      You only need to pay premium at one go to address your needs of savings and life insurance protection, enabling you to plan your financial future with less hesitation.


    • Flexible cash withdrawal for your financial needs
      To achieve your savings and retirement goals, you may request to withdraw cash in one lump sum* or make regular withdrawal (Note 1) based on your needs. You can withdraw from:

      (1) the accumulated annual dividends and interest (if any) or
      (2) the guaranteed cash value and special bonus (if any) through partial surrender.
      If withdrawals are made, the future benefits will be reduced accordingly.

      To preserve your wealth, you can apply for value conversion option (Note 2) to transfer some of your guaranteed cash value and special bonus (if any) to the amount you request and accumulate the amount with annual dividends for interest (if any) by way of partial surrender.

    • Hassle-free application to start building up your wealth
      Application is simple and medical checkup is generally not required.
      *If you exercise withdrawal in early policy years, the amount withdrawn together with the policy values remained in the policy may be considerably less than the total amount of premiums you paid.

    • Unlimited times for change of insured for continuous wealth inheritance
      You may exercise the change of insured option (Note 3) after you have held the policy for 1 year for unlimited times while the insured is alive. The benefit term will then be changed to age 138 (age next birthday) of the new insured, maintaining inherited wealth through generations.

    • Contingent insured and contingent policy owner for continuous policy extension
      You may nominate a contingent insured (Note 4) while the policy is in force and the insured is alive. In the event of death of the insured after your policy has been in force for 1 year or above, the nominated contingent insured will become the new insured, eliminating the possibility of policy termination resulting from unexpected death of the original insured. In addition, you can nominate a contingent policy owner (Note 5) while the policy is in force so that the policy can be managed by the contingent policy owner in the event of death of the original policy owner, sustaining the passing on of your legacy.

    • Death benefit settlement option for flexible wealth allocation
      To provide greater flexibility in your wealth allocation, you may choose the death benefit settlement option for the payment of death benefit in the form of a lump sum payment or regular installments (annually/monthly), or a mix of both if the latest insured passed away (Note 6). You may also set the installment term and amount in advance so that your beneficiary can receive the death benefit in the way chosen by you while the remaining amount will be left in our company to accumulate interest (non-guaranteed) until the full amount has been paid to the beneficiary.


    • Notes:
    1. Regular Withdrawal Service
      After holding the policy for 1 year, you can apply for the regular withdrawal service by written application and provide us the information required at the time of application, subject to FWD’s relevant policies and procedures as determined in FWD’s sole discretion from time to time. When the application is approved, the selected withdrawal amount will be directly credited to the designated account. Any amount withdrawn will be taken from the accumulated annual dividends and interest (if any). If there is not enough value in the accumulated annual dividends and interest (if any), the withdrawal will be taken from the guaranteed cash value and special bonus (if any) as a partial surrender and the notional amount, guaranteed cash value and death benefit will be reduced. The single premium paid, future non-guaranteed annual dividend and special bonus, will be reduced accordingly based on the reduced notional amount. We will terminate the regular withdrawal service if the notional amount after the withdrawal is below the minimum amount prescribed by FWD. In addition, if you exercise the regular withdrawal service in early policy years, the amount withdrawn together with the policy values remained in the policy may be considerably less than the total amount of premiums you paid.

    2. Value Conversion Option
      After holding the policy for 15 years, you can apply for value conversion option and reduce the notional amount by way of partially surrender the policy value, subject to FWD’s relevant policies and procedures as determined in FWD’s sole discretion from time to time. The value conversion option can be exercised once per policy year. Partial surrender will lead to a reduction of your notional amount and your guaranteed cash value and death benefit will be reduced accordingly. FWD will also determine the single premium paid, any subsequent annual dividend and special bonus, based on the reduced notional amount from the date of the partial surrender. The reduced notional amount has to be greater than the minimum amount prescribed by FWD.

    3. Change of Insured
      After holding the policy for 1 year and the insured is alive, you can apply in writing to change the insured. Any change to the insured must fulfill FWD’s relevant policies and procedures as determined in FWD's sole discretion from time to time. Any change of the insured will not have any effect on the notional amount, guaranteed cash value, special bonus (if any), annual dividend and interest (if any) or policy years. The age of new proposed insured should fulfill the issue age requirement (age next birthday), i.e. age 1 (15 days) – age 80. The new proposed insured must have an insurable interest with the policy owner.

    4. Contingent Insured
      Any nomination of the contingent insured must fulfill FWD's relevant policies and procedures as determined in FWD's sole discretion from time to time. The age of the contingent insured at nomination should fulfill the issue age (age next birthday) requirement, i.e. age 1 (15 days) – age 80. Only one person can be named as the contingent insured each time. The contingent insured must have an insurable interest with the policy owner upon nomination.

      Upon the death of the insured, the contingent insured will become the insured provided that the policy has been in effect for over 1 policy year, and subject to FWD's approval based on relevant policies and procedures as determined in FWD's sole discretion from time to time. The contingent insured should be alive and fulfill the issue age requirement and have an insurable interest with the policy owner upon FWD's approval.

    5. Contingent Policy Owner
      Any nomination of the contingent policy owner must fulfill FWD's relevant policies and procedures as determined in FWD's sole discretion from time to time. The age of the contingent policy owner at nomination should be higher than the minimum age FWD accepted. Only one person can be named as the contingent policy owner each time. Upon the death of the policy owner, the contingent policy owner will become the policy owner subject to FWD's approval based on relevant policies and procedures as determined in FWD’s sole discretion from time to time and that the contingent policy owner is alive.

    6. Death Benefit Settlement Option
      Policy owner can choose the death benefit settlement option for the payment of death benefit (in the form of a lump sum payment, regular installment (annually/monthly), or a mix of both) while the insured is alive and the policy is in effect, subject to FWD's relevant policies and procedures as determined in FWD's sole discretion from time to time. The default payment option is lump-sum payment. For settlement option other than lump sum payment, the unpaid amount of death benefit will be deposited with FWD to accumulate non-guaranteed interest until the full amount of death benefit is paid to the beneficiary. The interest (if any) on unpaid balance of the death benefit will be accumulated and paid to the beneficiary in the last installment in lump sum. Such balance do not participate in the fund or benefit from its profit. Selection of death benefit settlement option is subject to current applicable rule and procedures and may change from time to time.

     

    More details about the Wealth ICON Supreme Insurance Plan, please refer to the Product Brochure.

    Back to the top

    Legend Rich 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 dividend (if any)1 and total amount of terminal dividend management account (if any)2.

      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 5th policy anniversary under certain circumstances.

      Total amount of terminal dividend management account2 is equivalent to locked-in terminal dividend and interest (if any) 1 less withdrawal amount (if any).

    • 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)1 through reducing the basic amount3, while the policy value will be reduced accordingly.

      Alternatively, you can apply for policy loan from China Life (Overseas) to withdraw part of the guaranteed cash value when needed, while keeping the policy in force. Interest on policy loan will be charged at a rate determined by China Life (Overseas) from time to time.

    • Terminal dividend management option2 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 dividend1 starting from the 15th 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 account2 and will become locked-in terminal dividend. The locked-in terminal dividend will then be guaranteed and will accumulate with interest at a non-guaranteed rate. China Life (Overseas) reserves the right to revise the rate from time to time.

    • Unlimited change of insured4 to 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”4, allowing you to change the insured on or after the 1st policy anniversary for unlimited times while the insured is alive. The benefit term of the policy will be extended to age 138 of the new insured upon each change, giving your wealth more time to grow and pass on through generations.


      The new insured must have insurable interest with the policyholder. The new insured must be aged between 15 days after birth and 80 and must not be older than the attained age of the current insured, whichever is lower. The new insured is also subject to the applicable terms and conditions determined by China Life (Overseas) from time to time.

    • Contingent insured5 to sustain insurance coverage
      You can appoint and prioritize a maximum of 2 contingent insureds5 at a time while the insured is alive and the policy is in force. In case the insured unfortunately passes away, China Life (Overseas) will arrange the contingent insured who is first in line to be the new insured according to relevant administrative procedures and orders for allowing the policy to continuously provide protection to you and your family.


      The contingent insured must have insurable interest with the policyholder. The contingent insured must be aged between 15 days after birth and 80 and must not be older than the attained age of the current insured, whichever is lower. The contingent insured is also subject to the applicable terms and conditions determined by China Life (Overseas) from time to time.

    • Life protection provides peace of mind to your loved ones
      In case the insured passes away when the policy is in force and no contingent insured is assigned, 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 of the Plan; or
      2) sum of guaranteed cash value and non-guaranteed terminal dividend (if any)1 of the Plan at the date of death of the insured, plus the total amount of terminal dividend management account (if any) 2, less all indebtedness (if any). The prepaid premium balance will also be fully refunded.


      The policy will be terminated after China Life (Overseas) pay the death benefit.

    • 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 annually 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 China Life (Overseas) from time to time. The accumulated interest (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, China Life (Overseas) will pay the remaining balance of the death benefit 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 USD50,000 (for USD policy) or HKD400,000 (for HKD 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 and no medical examination is required

    Not Notes:
    1. Terminal dividend is non-guaranteed and is a one-time dividend. It is not perpetually attached to the policy. The actual amount will be adjusted from time to time and may be higher or lower than the shown amount. Terminal dividend may become zero in some circumstances. For more information, please refer to "Dividend and / or crediting interest philosophy" and "Investment philosophy, policy and strategy" under "Important information" and “Non-guaranteed benefit" risk.
      Starting from the 5th 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);
      1. (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 but this option can only be exercised once every policy anniversary. 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 non-guaranteed terminal dividend of the relevant policy year will be adjusted accordingly. The non-guaranteed terminal dividend of subsequent policy years will be adjusted 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 provision.

    3. "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, premium and relevant values of the policy will be adjusted accordingly.

    4. 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, cash value, policy date, policy year, premium expiry date, accumulated premium due and paid, death benefit, terminal dividend management option, total amount of terminal dividend management account (if any) and policy indebtedness (if any) will remain unchanged after the change of insured.

    5. 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 policy's basic amount, cash value, policy date, policy year, policy maturity date, accumulated premium due and paid , death benefit, terminal dividend management option, total amount of terminal dividend management account (if any) and indebtedness (if any) will remain unchanged.

    6. If the required renewal premium is paid by the policyholder 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 premium paid.

    7. You can withdraw the unused prepaid premium (including interest, if any) and China Life (Overseas) will charge 3% of the withdrawal amount at minimum amount of USD25 or HKD200. You can withdraw the unused prepaid premium once only. The interest rate of prepaid premium is guaranteed.

    More details about the Legend Rich Insurance Plan, please refer to the Product Brochure

    Back to the top

     
     

    For enquiries, please visit any of our outlets or call our customer services hotline.

     

    For more details about the products and services of FWD Life Insurance Company (Bermuda) Limited(Incorporated in Bermuda with limited liability), please visit the official website of FWD Life Insurance Company (Bermuda) Limited(Incorporated in Bermuda with limited liability) (www.fwd.com.hk) or please click here and visit the "Product Service Area"*. *This link brings you to a third party website. The Bank assumes no liability or control for your use of these links.

     

    For more details about the products and services of China Life Insurance (Overseas) Company Limited, please visit the official website of China Life Insurance (Overseas) Company Limited (www.chinalife.com.hk).

     

    Note:

    1. All policy dividends, special bonus, the interest rate of accumulated dividend and maturity dividend are non-guaranteed.
    2. Wealth Insurance Plan (5) , "Rainbow Age Whole Life Plan (Simplified Edition)" , "Peaceful Age Whole Life Plan" and "Legend Rich Insurance Plan" are underwritten by China Life Insurance (Overseas) Co. Ltd. China Life Insurance (Overseas) Co. Ltd is solely responsible for all features, policy approval, coverage and benefit payment under the Plan. Bank of Communications (Hong Kong) Limited is an appointed insurance agent of China Life Insurance (Overseas) Co. Ltd.
    3. " MaxFocus Signature Insurance Plan " and " Wealth ICON Supreme Insurance Plan" is underwritten by FWD Life Insurance Company (Bermuda) Limited(Incorporated in Bermuda with limited liability). FWD Life Insurance Company (Bermuda) Limited(Incorporated in Bermuda with limited liability) is solely responsible for all features, policy approval, coverage and benefit payment under the Plan. Bank of Communications (Hong Kong) Limited is an appointed insurance agent of FWD Life Insurance Company (Bermuda) Limited(Incorporated in Bermuda with limited liability).
    4. The above information is for reference and indicates the key features of the insurance plan only. For the complete explanation of the terms and conditions and the exclusions of the insurance plan, please refer to the Policy Provisions. In the event of any discrepancy between the above information and the Policy Provisions, the Policy Provisions shall prevail.
    5. The above insurance plan is NOT equivalent to the saving deposit or time deposit of Bank of Communications (Hong Kong) Limited and is NOT protected deposit under the Deposit Protection Scheme in Hong Kong.
    6. The age of insured mentioned in " MaxFocus Signature Insurance Plan " and " Wealth ICON Supreme Insurance Plan" refers to the age of the insured at the next birthday.

     


    Important Notice:

    Applicable to the insurance plan which is underwritten by FWD Life Insurance Company (Bermuda) Limited(Incorporated in Bermuda with limited liability) (“FWD”)

    • The insurance plan is a product of FWD but not Bank of Communications (Hong Kong) Limited (the “Bank”). All benefits payable under the insurance plan are subject to the credit risk of FWD.
    • Part of the premium pays for the insurance and the related costs. If you discontinue and/or surrender your policy in the early policy years or before the end of the policy term, the amount you get back may be considerably less than the total premium you have paid.
    • In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Bank and the customer out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over the contractual terms of the product should be resolved between directly FWD and the customer.
    • FWD is authorized and regulated by Insurance Authority.
    • FWD reserves the right to accept or reject any Insurance Application.

    For details, please refer to Disclosure of Important Information to Life Insurance Customers.

     

    Applicable to the insurance plan which is underwritten by China Life Insurance (Overseas) Company Limited (“China Life (Overseas)”)

    • The insurance plan is a product of China Life (Overseas) but not Bank of Communications (Hong Kong) Limited (the “Bank”). All benefits payable under the insurance plan are subject to the credit risk of China Life (Overseas).
    • Part of the premium pays for the insurance and related costs. If you discontinues and /or surrender your policy in the early policy years or before the end of the policy term, the amount you get back may be considerably less than the total premium you have paid.
    • In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Bank and the customer out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over the contractual terms of the product should be resolved between directly China Life (Overseas) and the customer.
    • China Life (Overseas) is authorized and regulated by Insurance Authority.
    • China Life (Overseas) reserves the right to accept or reject any Insurance Application.

      For details, please refer to Disclosure of Important Information to Life Insurance Customers.

    Contact Us

    Customer Service Hotline: 223 95559

    Please visit any of our outlets