Life Insurance
Underwritten by: Hong Kong Life Insurance Limited
Appointed Licensed Insurance Agency: Chong Hing Bank Limited, CMB Wing Lung Bank Limited, OCBC Bank (Hong Kong) Limited and Shanghai Commercial Bank Limited

Affordable Premium for Whole Life Protection

A sufficient financial support for your family or loved ones is always important to cope with the misfortune resulted from sudden death of yourself who is the breadwinner of your family. Life-at-Ease Level Term Plan (The "Plan") provides you with a comprehensive life protection at a low premium rate to release your family or loved ones from any immediate financial burden and enjoy more peace of mind.

Flexible Choices on Benefit Term

The Plan provides 5 types of Benefit Term, i.e. 1-Year, 5-Year, 10-Year, 20-Year and 30-Year, to suit your needs. If the Life Insured dies while the Plan is in force, the Total Death Benefit which is equal to the Sum Assured will be paid to the Policy Beneficiary.

Affordable Premium with Comprehensive Protection

You can enjoy a comprehensive life protection at an affordable premium. The premium will remain unchanged throughout the Premium Payment Term1, allowing you to have a better plan for your future. Besides, premium discounts are available for Sum Assured of HKD2,000,000 / USD250,000 or above.

Guaranteed Renewability for Whole Life Protection

On the Expiry Date upon renewal of the Plan, 1-Year, 5-Year and 10-Year of the Plan are guaranteed renewable up to age 1002 of the Life Insured without evidence of insurability.

Convertibility to Suit Your Needs

Prior to the Policy Anniversary on or immediately following the Life Insured's 65th birthday and during the Benefit Term, you may convert all or part of the Sum Assured under the Plan to a new permanent life plan without evidence of insurability. The Sum Assured of the Plan shall be reduced by the amount converted to new permanent life plan and the premium of the Plan shall be proportionately reduced according to the reduced Sum Assured. The Plan shall terminate automatically when the Sum Assured for the Plan has been fully converted.

Free Terminal Illness Benefit3 to Provide Financial Assistance

If the Life Insured is diagnosed to have Terminal Illness4 before age 60, a lump sum cash payment which is equal to the Sum Assured of the Plan will be advanced to provide immediate financial assistance. The Plan shall terminate automatically when the Terminal Illness Benefit has been paid.

Flexible Choice of Supplementary Benefit5 to Meet Your Needs

You may enhance your coverage by attaching Waiver of Premium Benefit5 to the Policy to fit your personal needs.

Premium Payment Term1 1 Year 5 Years 10 Years 20 Years 30 Years
Guaranteed renewable up to age 100 of the Life Insured
Issue Age* Age 16 to 74 Age 16 to 70 Age 16 to 65 Age 16 to 55 Age 16 to 45
Policy Currency HKD / USD
Benefit Term 1 Year 5 Years 10 Years 20 Years 30 Years
Guaranteed renewable up to age 100 of the Life Insured
Minimum Sum Assured HKD240,000 / USD30,000
Premium Payment Mode Annual / Semi-annual / Quarterly / Monthly

*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. 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. The renewal premium is not guaranteed and will be calculated according to the Life Insured's attained age and the premium rates upon renewal.
  3. The Terminal Illness Benefit is only applicable to the Life Insured of age 16 to 55 at the time of Policy application.
  4. Death of the Life Insured is highly probable within 12 months as a result of an illness and must be confirmed by Hong Kong Life's appointed medical officer.
  5. Application for Supplementary Benefits must comply with the issue age requirement of the Supplementary Benefits and are subject to normal underwriting procedures. Supplementary Benefits can be applied together with the Plan or at each Policy Anniversary. Supplementary Benefits will be terminated simultaneously when the Plan is terminated. For details of Supplementary Benefits, please refer to the policy document issued by Hong Kong Life.

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

  1. 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. 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.

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.

Inflation Risk

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

Important Policy Provisions

Suicide

If the Life Insured commits suicide, while sane or insane, within one (1) year from the Issue Date or 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 any existing Indebtedness. In the case of reinstatement, such refund of premium shall be calculated from the date of reinstatement.

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 Life Insured for two (2) years from the Issue Date or date of any reinstatement, whichever is later. 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 expires; or
  3. if and when a premium remains unpaid at the end of the Grace Period as specified in the General Provisions; or
  4. if and when the Sum Assured for the Plan has been fully converted; or
  5. on the Policy Anniversary on or immediately following the Life Insured's one hundredth (100th) birthday (applicable to 1 Year, 5 Years and 10 Years Benefit Terms); or on the Policy Anniversary on or immediately following the Life Insured's seventy-fifth (75th) birthday (applicable to 20 Years and 30 Years Benefit Terms).

Others

Premium Adjustment

Hong Kong Life has the right to review and adjust the Plan's premium rates upon renewal. Hong Kong Life may adjust premium rates because of several factors, such as Hong Kong Life's claims and persistency experience and expenses directly related to and indirect expenses allocated to the Plan.

Insurance Costs

Part of the premium pays for the insurance and related costs (if any).

Policy Fee

Part of the premium of the Plan pays for the Policy Fee, the current annual Policy Fee is HKD240 / USD30.

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.

Dispute on Selling Process and Product

Chong Hing Bank Limited, CMB Wing Lung Bank Limited, OCBC Bank (Hong Kong) Limited and Shanghai Commercial Bank Limited (collectively "Appointed Licensed Insurance Agencies" and each individually "Appointed Licensed Insurance Agency") are the Appointed Licensed Insurance Agency of Hong Kong Life, and the life insurance product is a product of Hong Kong Life but not the Appointed Licensed Insurance Agency. 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
Terminal Illness Benefit (Free)

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

Important Policy Provisions

Automatic Termination

The Terminal Illness Benefit shall terminate automatically:

  1. if and when the Terminal Illness Benefit expires; or
  2. if and when the Basic Plan terminates; or
  3. if and when the Sum Assured under the Terminal Illness Benefit has been paid; or
  4. on the Policy Anniversary on or immediately following the Life Insured's sixtieth (60th) birthday.

The above information is for reference and is applicable within Hong Kong only. The above information does not contain the full terms of the policy document. For full terms and conditions, please refer to the policy document. If there is any conflict between the above information and the policy document, the latter shall prevail. The copy of the policy document is available upon request. Before applying for the insurance plan, you may refer to the contents and terms of the policy document. You may also seek independent and professional advice before making any decision.