Multiple Premium Payment Term¹ for selection with Extended Life Protection

The Plan provides 3 choices of Premium Payment Term¹, i.e. 3 years¹, 6 years¹ and 12 years¹, with whole life protection until age 130 of the Life Insured.

Additional Return

The Plan not only provides Guaranteed Cash Value, a Terminal Dividend (non-guaranteed)² may be payable as early as on or after the end of 5^th Policy Year when the Policy is fully surrendered by the Policyowner, upon the death of the Life Insured or upon Policy Maturity, whichever is the earliest. When the Policy is partially surrendered by the Policyowner, Terminal Dividend (non-guaranteed)² may be payable as early as on or after the end of 5^th Policy Year. The payable amount is equal to the Terminal Dividend (non-guaranteed)² attributable to the reduced portion of Principal Amount. Terminal Dividend (non-guaranteed)² will not accumulate in the Policy.

Terminal Dividend (non-guaranteed)² may be distributed according to the Premium Payment Term¹ of the Plan as below:

Basic Dread Disease Benefit of Up to 150% of Principal Amount³ without Affecting the Policy Value

If the Life Insured is diagnosed with the covered Dread Diseases before age 80, a Basic Dread Disease Benefit⁴ which is equal to 50% of Principal Amount³ will be paid to the Policyowner for the first claim in respect of each of the following Dread Disease Group to ease the financial burden, subject to a 1 year waiting period between the date of Diagnosis of the second or subsequent claim and the date of Diagnosis of the last approved claim of the Basic Dread Disease Benefit or Extra Dread Disease Benefit. Moreover, the policy value will not be changed due to the claim of Basic Dread Disease Benefit. This avoids your financial target being affected by the unexpected illnesses.

Each of the above Dread Disease Group can be claimed under Basic Dread Disease Benefit once, meaning the Basic Dread Disease Benefit could be claimed a maximum of 3 times. The total benefit payment is up to 150% of the Principal Amount³.

Extra Dread Disease Benefit to Further Back You Up

Although medical treatment nowadays is better than ever, dread disease might come more than once. After the claim of Basic Dread Disease Benefit and passing the 1-year waiting period⁵ or 3-year Cancer free Period ("3-Year Cancer-Free Period")⁵, if the Life Insured is diagnosed with the covered Dread Diseases before age 80, an Extra Dread Disease Benefit⁴ which is equal to 50% of Principal Amount³ will be paid to the Policyowner for the second claim of the same Dread Disease Group. Similarly, the policy value will not be changed due to the claim of Extra Dread Disease Benefit.

The above 3 Dread Disease Groups can be claimed under Extra Dread Disease Benefit for 1 time in total, meaning the Extra Dread Disease Benefits could be claimed a maximum of 1 time. The total benefit payment is 50% of the Principal Amount³.

Note:

^ For Extra Dread Disease Benefit, the Cancer for the second claim must be a new Cancer; or a reoccurrence of the preceding approved claim of Cancer which is not the continuation or metastasis of a Cancer.

# For Extra Dread Disease Benefit, only Heart Attack is covered under Dread Disease Group - Heart Disease.

Flexible Change of Life Insured⁶

While the Plan is in force and the Life Insured is alive, Policyowner may change the Life Insured according to your plan for 1 time after the Premium Payment Term ⁶.The Maturity Date will be reset to the age 130 of the New Life Insured. In addition, if none of the Basic Dread Disease Benefit or Extra Dread Disease Benefit has been paid, the Basic Dread Disease Benefit and Extra Dread Disease Benefit shall apply to the New Life Insured upon the Change of the Life Insured.

Life Protection for Peace of Mind

If the Life Insured dies while the Plan is in force, the Total Death Benefit which is equal to 101% of Total Premiums Paid or 100% of Guaranteed Cash Value as at the date of death of the Life Insured (whichever is greater), plus Terminal Dividend (non-guaranteed)²(if any), less Indebtedness (if any) will be paid to the Policy Beneficiary.

Flexible Death Benefit Settlement Options⁷

In addition, the Plan provides flexible Death Benefit Settlement Options⁷. Instead of receiving the Death Benefit in a lump sum payment, Policyowner can designate other settlement options including Installment Payments (Fixed Amount) or Installment Payments (Fixed Period) while the Plan is in force and the Life Insured is alive to settle the Death Benefit to the Policy Beneficiary.

Complimentary Additional Protection and Service for Extra Peace of Mind

• Accidental Death Benefit⁸
  The Plan provides complimentary Accidental Death Benefit⁸ for the first 5 Policy Years. If the Life Insured dies because of accident, an extra benefit equals to 30% of the first year premium of the Plan will be paid to the Policy Beneficiary.
• Second Medical Opinion from Overseas Expert Service⁹
  If the Life Insured has been diagnosed with the dread disease covered by the service, through its professional medical network, the service enables the Life Insured to seek second medical opinion from overseas experts⁹.

Simple Application

If the below requirements for issue age and Principal Amount³ are met, the Life Insured can apply with simple application procedure and no medical examination is required.

*Age means age of the Life Insured at the last birthday

*Age means age of the Life Insured at the last birthday

1. The Policy will be terminated if the Policyowner cannot settle the premium payment before the end of the Grace Period during the Premium Payment Term, subject to the Automatic Premium Loan, Non-forfeiture Option and other relevant provisions of the Policy. For detailed terms and conditions, please refer to the policy document issued by Hong Kong Life. If the Policy is terminated before the Policy Maturity, the Total Surrender Value (if applicable) received by the Policyowner may be less than the Total Premiums Paid.
2. Terminal Dividend is not guaranteed and may be changed from time to time. Past performance is not indicative of future performance. The actual amount payable may be higher or lower than those illustrated in the Insurance Proposal. Hong Kong Life reserves the right to change it from time to time.
3. Principal Amount is used to calculate Initial Premium, any subsequent premium, benefits and policy values (if any) of the respective Basic Plan and any Supplementary Benefit. Any subsequent change of the Principal Amount will result in corresponding change in premium, benefits and policy values (if any) of the respective Basic Plan and any Supplementary Benefit. The Principal Amount does not represent the amount of death benefit of the respective Basic Plan and any Supplementary Benefit.
4. The benefit payment should be payable in the event of the Life Insured's survival of 14 days following the Diagnosis of covered Dread Disease.
5. In the case of a second or subsequent claim for any covered Dread Disease under Basic Dread Disease Benefit or Extra Dread Disease Benefit, the date of Diagnosis of such second or subsequent claim must be more than 1 year following the date of Diagnosis of last approved claim, and no claim under Basic Dread Disease Benefit or Extra Dread Disease Benefit is payable if the date of Diagnosis fall within such 1 year waiting period. In the case of a second claim for Cancer, which occurs following payment of Basic Dread Disease Benefit under the same group in respect of the preceding approved claim of Cancer, the Cancer for the second claim must be diagnosed after the expiration of a 3-Year Cancer-Free Period from the preceding approved claim of Cancer. The 3-Year Cancer-Free Period must be determined by the treating Registered Medical Practitioner who is a specialist to confirm the cancer-free state of the Life Insured for the whole duration of the immediately preceding 3-year period. The cancer-free state must also be confirmed and supported by clinical, radiological, histological and laboratory evidence and evidence of all other relevant investigative methods available at that time. The 3-year Cancer-Free Period shall start on the date of completion of treatment of the previous occurrence of Cancer. Treatment of Cancer shall include any surgery, chemotherapy, radiation therapy, immunotherapy, monoclonal antibody therapy or other conventional cancer treatments that have been used as prescribed by the treating Registered Medical Practitioner who is a specialist.
6. Change of Life Insured is subject to the terms and conditions, and the then underwriting and administrative rules as determined by Hong Kong Life from time to time. A change of Life Insured may trigger consequential adjustments in the Principal Amount and/or other policy value(s). If triggered, these adjustments to be made are subject to the then underwriting and administrative rules as determined by Hong Kong Life at its absolute discretion, otherwise the Principal Amount, Guaranteed Cash Value, Terminal Dividend (if any), Policy Date, premium, Premium Payment Term, Total Premiums Paid and Indebtedness (if any) will remain unchanged on the date of endorsement, while the Maturity Date of this Policy will change to age 130 of the New Life Insured. If the new Principal Amount is lower than the original Principal Amount, the Policyowner may apply to increase the Principal Amount for the New Life Insured up to the amount of the original Principal Amount before the change of Life Insured with the payment of additional premium. Any such request is subjected to the prevailing regulatory requirement and is at Hong Kong Life's absolute discretion. Provided the Basic Dread Disease Benefit and Extra Dread Disease Benefit of the Policy are still effective and none of them have been paid prior to the change of Life Insured has taken effective, the Basic Dread Disease Benefit and Extra Protection Benefit shall apply to the New Life Insured upon the Change of the Life Insured. Otherwise, the Basic Dread Disease Benefit and Extra Protection Benefit shall cease after the change of Life Insured takes effect on the date of endorsement. At the time Hong Kong Life receive the written request, the proposed New Life Insured's Age must not be over 60 and must not be older than the Initial Life Insured. Also, evidence of insurability including the insurable interest for the proposed New Life Insured shall be submitted. In addition, the New Life Insured and the Initial Life Insured must be alive on the date of endorsement. All Supplementary Benefit(s) (if any) for the Initial Life Insured will be terminated automatically on the date of endorsement and no unearned premium shall be refunded. The relevant Supplementary Benefit(s) can be applied in respect of the New Life Insured subject to the underwriting rules and requirements as determined by Hong Kong Life from time to time. For detailed terms and conditions, please refer to the policy document issued by Hong Kong Life.
7. Death Benefit Settlement Options are only applicable in the event of the death of the Life Insured after the Premium Payment Term and all premiums due have been paid, and subject to the terms and conditions, and the then administrative rules as determined by Hong Kong Life from time to time. For detailed terms and conditions, please refer to the policy document issued by Hong Kong Life.
8. The Accidental Death Benefit is only applicable to the Life Insured who is Hong Kong resident. The indemnity of the Accidental Death Benefit should not exceed an aggregate maximum of HKD400,000/ USD50,000 in respect of all Hong Kong Life's policies covering the Life Insured for the Accidental Death Benefit.
9. Second Medical Opinion from Overseas Expert Service is provided by Inter Partner Assistance Hong Kong Limited. Such service is not part of the product features. The terms and conditions of the service will be issued together with the policy document. The availability of the service is not guaranteed. Hong Kong Life reserves the right to cancel or amend the said service at its sole discretion. In addition, Hong Kong Life will not be responsible for any services or opinions provided by Inter Partner Assistance Hong Kong Limited. Hong Kong Life reserves the right of final decision in case of any dispute.

1. The date of Diagnosis of any respective covered Dread Disease under Basic Dread Disease Benefit and Extra Dread Disease Benefit is prior to the Policy Anniversary on or immediately following the Life Insured's 80^th birthday. For the avoidance of doubt, the date of Diagnosis of a covered Dread Disease shall refer to the date on which the definitive diagnosis is made in the case of a covered illness or the date on which the surgery is performed in the case of a covered surgery.
2. The Life Insured has survived for no less than 14 days following the Diagnosis of any respective covered Dread Disease under Basic Dread Disease Benefit and Extra Dread Disease Benefit.
3. The dates of Diagnosis of any two (2) consecutive claims must be separated by at least one (1) year waiting period. That is, the date of Diagnosis of the current claim must be more than one (1) year following the date of Diagnosis of the preceding approved claim, and no claim under Basic Dread Disease Benefit or Extra Dread Disease Benefit is payable if the dates of Diagnosis fall within such one (1) year waiting period. For the avoidance of doubt, if there are Diagnosis of two (2) or more covered Dread Diseases at the same time, only one benefit is payable for any Dread Disease Group under Basic Dread Disease Benefit or Extra Dread Disease Benefit.
4. Any Indebtedness on the Policy shall be deducted from the Basic Dread Disease Benefit and Extra Dread Disease Benefit payable under the Policy.
5. The Basic Dread Disease Benefit and Extra Dread Disease Benefit shall terminate on the Policy Anniversary on or immediately following the Life Insured's 80^th birthday.
6. Upon full payment of the Basic Dread Disease Benefit and Extra Dread Disease Benefit, Hong Kong Life shall have no further liability under the Dread Disease Benefit.

Basic Dread Disease Benefit and Extra Dread Disease Benefit of the Plan shall not cover any claims caused directly, or indirectly, wholly or partly, by any one of the following occurrences:

1. Any Dread Disease resulted from Pre-existing Condition or the symptoms of a covered illness or the cause of a covered surgery under the Dread Disease first occurred prior to the Issue Date of the Plan, or within ninety (90) days following the Issue Date, date of endorsement or date of reinstatement of the Plan, whichever is later; or
2. Intoxication by drugs not prescribed by a Registered Medical Practitioner or abuse of alcohol; or
3. Presence of Human Immunodeficiency Virus (HIV) infection on or before the diagnosis date of Dread Diseases.

The Accidental Death Benefit shall not cover any claims caused directly or indirectly, wholly or partly, by any one of the following occurrences:

1. suicide or self-inflicted injuries while sane or insane;
2. war whether declared or undeclared or any act thereof, invasion, civil commotion, riots or any warlike operations;
3. service in the armed forces in time of declared or undeclared war or while under orders for warlike operations or restoration of public order;
4. violation or attempted violation of the law or resisting arrest or participation in any brawl or affray;
5. engaging in or taking part in (a) driving or riding in any kind of race; (b) professional sports; (c) underwater activities involving the use of breathing apparatus; (d) flying or other aerial activity except as a fare-paying passenger in a commercial aircraft;
6. accident occurring while or because the Life Insured is affected by alcohol or any drug;
7. poison, gas or fumes whether voluntarily or involuntarily taken;
8. disease or infection (except infection which occurs through an accidental cut or wound), including infection with any Human Immunodeficiency Virus (HIV) and/or any HIV-related illness including Acquired Immunodeficiency Syndrome (AIDS) and/or any mutations, derivations or variations thereof;
9. childbirth, pregnancy, miscarriage or abortion.

• Basic Plan

Risk

Exchange Rate Risk

You are subject to exchange rate risks for the Policy denominated in currencies other than the local currency. Exchange rates fluctuate from time to time. You may suffer a loss of your benefit values and the subsequent premium payments (if any) may be higher than your initial premium payment as a result of exchange rate fluctuations.

Liquidity Risk / Long Term Commitment

The Plan is designed to be held until the Maturity / Expiry Date. If you partially surrender or terminate the Policy prior to the Maturity / Expiry Date, a loss of the premium paid may be resulted.

The premium of the Plan should be paid in full for the whole payment term. If you discontinue the payment, the Policy may lapse and a loss of the premium paid may be resulted.

Credit Risk of Issuer

The life insurance product is issued and underwritten by Hong Kong Life. The premium to be paid by you would become part of the assets of Hong Kong Life and that you and your Policy are subject to the credit risk of Hong Kong Life. In the worst case, you may lose all the premium paid and benefit amount.

Market Risk

The amount of dividends (if any) of the Plan depends principally on the factors including investment returns, claim payments, policy persistency rates, operation expenses and tax. Hence the amount of dividends (if any) is not guaranteed and may be changed over time. The actual dividends payable may be higher or lower than the expected amount and value at the time when the Policy was issued.

Inflation Risk

When reviewing the values shown in the Insurance Proposal, please note that future medical costs/ cost of living in the future is likely to be higher than it is today due to inflation.

Important Policy Provisions

Non-guaranteed Premium

The premium is not guaranteed and Hong Kong Life reserves the right to adjust it on a risk class basis.

Suicide

If the Initial Life Insured commits suicide, while sane or insane, within one (1) year from the Issue Date or the date of any reinstatement, whichever is later, the liability of Hong Kong Life shall be limited to a refund of paid premiums to the Beneficiary without interest, less (i) any benefit which has been paid under the Policy and (ii) any existing Indebtedness. In the case of reinstatement, such refund of premium shall be calculated from the date of reinstatement.

Upon the change of the Life Insured, if the New Life Insured commits suicide, while sane or insane, within one (1) year from the date of endorsement or date of any reinstatement, whichever is later, the liability of Hong Kong Life shall be limited to (i)(a) a refund of the Total Premiums Paid for the Plan (without interest) or (i)(b) the Guaranteed Cash Value and Terminal Dividend (if any), whichever is greater, less (ii) any benefit which has been paid under the Policy and (iii) Indebtedness (if any).

Incontestability

The validity of the Policy shall not be contestable except for (i) the non-payment of premiums, (ii) fraud or (iii) misstatement of age and/or sex as specified in the Misstatement of Age and/or Sex provisions, after it has been in force during the lifetime of the Initial Life Insured for two (2) years from the Issue Date or the date of any reinstatement, whichever is later. Premiums paid will not be refunded should the Policy be voided by Hong Kong Life.

Upon the change of the Life Insured, Hong Kong Life shall not contest the validity of the Policy after the change has been in force during the lifetime of the New Life Insured for two (2) years from the date of endorsement or date of any reinstatement, whichever is later, except for (i) the non-payment of premiums, (ii) fraud or (iii) misstatement of Age and/or sex as specified in the Misstatement of Age and/or Sex provisions. Premiums paid will not be refunded should the Policy be voided by Hong Kong Life.

Automatic Termination

The Plan shall terminate automatically:

1. upon the death of the Life Insured; or
2. if and when the Plan matures or is fully surrendered; or
3. if and when a premium remains unpaid at the end of the Grace Period as specified in the General Provisions of the Policy unless Automatic Premium Loan applies; or
4. if and when the Indebtedness of the Policy equals to or exceeds the Guaranteed Cash Value; or
5. if and when the Guaranteed Cash Value less Indebtedness (if any) is less than the premium required to maintain the Policy up to the next premium due date as specified in the Automatic Premium Loan provisions.

Others

Premium Adjustment

Hong Kong Life has the right to review and adjust the Plan's premium rates for particular risk classes on Policy Anniversary, but not for any individual customer. Hong Kong Life may adjust premium rates because of several factors, such as Hong Kong Life's claims and persistency experience, historical performance and the future outlook of investment returns, and expenses directly related to and indirect expenses allocated to the Plan.

Insurance Costs

The Plan is an insurance plan with a savings element. Part of the premium pays for the insurance and related costs (if any).

Cooling-off Period

If you are not satisfied with your Policy, you have a right to cancel it within the cooling-off period and obtain a refund of any premium(s) and levy(ies) paid (in the original payment currency) to Hong Kong Life without any interest. A written notice signed by you should be received directly by Hong Kong Life Insurance Limited at 15/F Cosco Tower, 183 Queen's Road Central, Hong Kong within the cooling-off period (that is, the period of 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 the earlier)).After the expiration of the cooling-off period, if you cancel the Policy before the end of the term, the projected Total Surrender Value (if applicable) may be less than the Total Premiums Paid.

Cancellation

After the cooling-off period, the Policyowner can request cancellation of the Policy by giving thirty (30) days prior written notice to Hong Kong Life.

Dividends

Hong Kong Life determines the amount of divisible surplus that will be distributed in the form of Terminal Dividend. Terminal Dividend will be determined according to the Policy's terms and conditions and in compliance with the relevant legislative and regulatory requirements as well as relevant actuarial standards. Terminal Dividend is available at the termination of the policies.

The amount of divisible surplus depends principally on the factors including investment returns, claim payments, policy persistency rates, operation expenses and tax. Hence the amount of Terminal Dividend is not guaranteed and may be changed over time. The actual Terminal Dividend payable may be higher or lower than the expected amount at the time when the policies were issued.

Partial Surrender

In case of Partial Surrender, the Guaranteed Cash Value and Terminal Dividend of the Policy will be decreased accordingly. This will also decrease the Principal Amount, Total Surrender Value, Total Death Benefit and other benefits (if applicable).

Policy Loan

After the Plan has acquired a Guaranteed Cash Value and while the Policy is in force, the Policyowner may, upon the sole security and satisfactory assignment of the Policy to Hong Kong Life, apply for a Policy Loan from the Plan. Any loan on the Policy shall bear interest at a rate declared by Hong Kong Life from time to time. Interest on the loan shall accrue and compound daily from the date of loan. The Policy Loan Interest Rate is not guaranteed and will be changed from time to time. The loan and the interest accrued thereon shall constitute Indebtedness against the Policy. Interest shall be due on each Policy Anniversary subsequent to the date of loan. In the event that the Indebtedness of the Policy equals to or exceeds the Guaranteed Cash Value, the Policy will terminate. Any Policy Loan and accrued loan interest may reduce the Total Surrender Value and Total Death Benefit of the Policy.

Non-Protected Deposit

The Plan is not equivalent to, nor should it be treated as a substitute for, time deposit. The Plan is not a protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong.

Dispute on Selling Process and Product

Chong Hing Bank Limited, CMB Wing Lung Bank Limited, OCBC Wing Hang Bank Limited and Shanghai Commercial Bank Limited (collectively "Appointed Licensed Insurance Agencies" and each individually "Appointed Licensed Insurance Agency") are the Appointed Licensed Insurance Agencies of Hong Kong Life, and the life insurance product is a product of Hong Kong Life but not the Appointed Licensed Insurance Agencies. 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 Appointed Licensed Insurance Agency and the customer out of the selling process or processing of the related transaction, Appointed Licensed Insurance Agency is required to enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over the contractual terms of the life insurance product should be resolved between Hong Kong Life and the customer directly.

 

• Supplementary Benefit

Accidental Death Benefit (Free)

Exchange Rate Risk, Credit Risk of Issuer, Inflation Risk, Cooling-off Period, Cancellation and Dispute on Selling Process and Product in the above Basic Plan section and the below point(s) is/ are applicable to the Accidental Death Benefit:

Important Policy Provisions

Automatic Termination

The Accidental Death Benefit shall terminate automatically:

1. if and when the Accidental Death Benefit expires; or
2. if and when the Basic Plan terminates.

Others

Partial Surrender

In case of Partial Surrender, the indemnity of the Accidental Death Benefit (if applicable) will be decreased.

• Product Leaflet
• Premium Schedule
• Forms Download and Claims Procedures
• Second Medical Opinion from Overseas Expert Service - Service Guide