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

Superior Level Term Rider (The "Level Term Rider") is a pure life protection plan. It offers life protection at an affordable premium. The premium will remain unchanged throughout the Premium Payment Term.

On the Benefit Expiry Date and any subsequent Benefit Expiry Date upon renewal of the Level Term Rider, the Level Term Rider is guaranteed renewable up to age 100 of the Life Insured without evidence of insurability (only applicable to 1-Year, 5-Year or 10-Year Plan).

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 Level Term Rider to a new permanent life plan without evidence of insurability. The Sum Assured of the Level Term Rider shall be reduced by the amount converted to new permanent life plan and the premium of the Level Term Rider shall be proportionately reduced according to the then reduced Sum Assured. The Level Term Rider shall terminate automatically when the Sum Assured for the Level Term Rider has been fully converted.

Plan Features
Benefit Summary
  • When the Life Insured dies, the Sum Assured will be paid.
  • The Level Term Rider is guaranteed renewable up to age 100 of the Life Insured. The renewal premium is not guaranteed and will be calculated according to the Life Insured's attained age and the premium rates upon renewal (only applicable to 1-Year, 5-Year or 10-Year Plan).
Terminal Illness Benefit1

If the Life Insured is diagnosed to have Terminal Illness2 before age 60, a lump sum cash payment which is equal to the Sum Assured of Superior Level Term Rider will be advanced. Superior Level Term Rider shall terminate automatically when the Terminal Illness Benefit has been paid.

Exclusion of Terminal Illness Benefit

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
Remarks
  1. The Terminal Illness Benefit is only applicable to the Life Insured of age 16 to 55 at the time of Policy application.
  2. 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.
Important Statements
  • Supplementary Benefit

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 Level Term Rider shall terminate automatically:

  1. if and when the Level Term Rider expires; or
  2. if and when the Basic Plan terminates; or
  3. if and when a premium remains unpaid at the end of Grace Period as specified in the General Provisions; or
  4. if and when the Sum Assured for the Level Term Rider has been fully converted; or
  5. on the Policy Anniversary on or immediately following the Life Insured's one hundredth (100th) birthday (only applicable to 1-Year, 5-Year or 10-Year Plan)/ on the Policy Anniversary on or immediately following the Life Insured's seventy-fifth (75th) birthday (only applicable to 20-Year or 30-Year Plan).

Others

Premium Adjustment(only applicable to 1-Year, 5-Year or 10-Year Plan)

Hong Kong Life has the right to review and adjust the Supplementary Benefit'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 Supplementary Benefit.

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 of 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.