When paying the first year premium, the second year premium and levy (if any) may be deposited in advance into the Premium Deposit Account at the same time. No interest will be payable and no partial or full withdrawal is allowed for the amount in the Premium Deposit Account. For the avoidance of doubt, the Premium Deposit Account is not equivalent to the Bank's saving account. Any premium prepaid to Hong Kong Life pursuant to this promotion is not protected deposit and is not protected by the Deposit Protection Scheme under the Deposit Protection Scheme Ordinance (Cap 581) of Hong Kong.

The above example assumes no Policy Loan, no partial surrender, no withdrawal of Policy Value and all premiums have been paid when due during the benefit term. The above example is for reference only. Please refer to the Insurance Proposal of the Eligible Life Insurance Plan for actual premium and more details.

Please refer to relevant product page of the respective insurance plan for the Appointed Licensed Insurance Agency. Please refer to the policy document for the full terms and conditions of the Eligible Life Insurance Plan(s), and the product leaflet of Hong Kong Life's life insurance plans for product information and risk disclosure. Before applying for any life insurance plan, client should carefully read and understand the contents and terms of the policy document. Client should also seek independent and professional advice before making any decision.

Terms and Conditions of "Rewards with Ease 2025" Client Incentive (Extract and applicable to Wealth Up (Premier) Savings Insurance Plan Client Incentive)

General Terms and Conditions:

1. The "Rewards with Ease 2025" Client Incentive, provided by Hong Kong Life Insurance Limited ("Hong Kong Life"), consists of Wealth Up (Premier) Savings Insurance Plan Client Incentive "Incentive"). The promotion period of the Incentive is from 2 January to 31 March 2025 (both dates inclusive)("Promotion Period").
2. To be eligible for the Incentive, the application signing date and submission date of the application for any of the Eligible Life Insurance Plans must fall within the Promotion Period.
3. Unless otherwise stated, the Incentive is applicable to all clients.
4. Unless otherwise stated, the Incentive cannot be enjoyed in conjunction with any other incentive(s) offered by Hong Kong Life.
5. Hong Kong Life reserves the right to change or terminate the Incentive and amend any terms and conditions of the Incentive at any time without giving prior notice to clients or reason therefor. For the avoidance of doubt, the Incentive applicable to the eligible policy issued prior to such variation, suspension or termination of the Incentive will not be affected.
6. Clients should refer to the Product Section of Hong Kong Life website, the policy, proposal, product leaflet and any other relevant documents of Hong Kong Life's life insurance plans for relevant product information, contents, terms and conditions. This promotion describes the details of the Incentive only; it does not cover any coverage, exclusions, risk disclosure, contents, terms and conditions of the Eligible Life Insurance Plan(s). Clients should read, fully understand and accept the coverage, exclusions, risk disclosure, contents, terms and conditions of the policies and proposals before applying for any Eligible Life Insurance Plan(s) inclusive of the Incentive.
7. The Incentive and its relevant terms and conditions are applicable within the Hong Kong Special Administrative Region ("Hong Kong") only and governed by the laws of Hong Kong.
8. If there is any discrepancy or inconsistency between the English version and the Chinese version of this promotion, the English version shall prevail.
9. Hong Kong Life reserves the right of final decision in case of any dispute.
   
   Specific Terms and Conditions of First Year Premium Discount:
10. Subject to the General Terms and Conditions and the Specific Terms and Conditions herein, clients who fulfill all of the following requirements will be entitled to the corresponding First Year Premium Discount of Basic Plan ("First Year Premium Discount") as shown in the Incentive Table (I): (i) with successful applications submitted within the Promotion Period for the Eligible Life Insurance Plans; (ii) the First Year Premium of Basic Plan being not less than the respective amounts as set out in the Incentive Table (I) (as the case maybe); and (iii) the policy being successfully issued.
11. The First Year Premium Discount does not apply to any riders.
12. If the First Year Premium is not an integer, such figure will be rounded off to the nearest integer for the purpose of calculating the amount of First Year Premium Discount that clients can enjoy.
13. The amount of the First Year Premium Discount will be calculated in the currency under which the Eligible Life Insurance Plan is denominated.
14. Clients can pay the net premium (i.e. the premium after deducting the premium discount amount) when they submit the applications for the Eligible Life Insurance Plan.
15. In case of any changes made by clients in the first policy year, which results in the requirement for the First Year Premium Discount not being fulfilled, Hong Kong Life reserves the right to disqualify such client's entitlement to the First Year Premium Discount and such client agrees to reimburse Hong Kong Life for the amount of the First Year Premium Discount already granted to such client upon request.
16. The First Year Premium Discount is not applicable to policies withdrawn during the cooling-off period. In such case, clients would receive a refund of the premium(s) (not including the premium discount amount) and levy(ies) paid (both in the original payment currency) to Hong Kong Life, without any interest.
17. The First Year Premium Discount is non-transferable and cannot be redeemed for cash and is not applicable to the premium on renewal of existing policy.
    
    Specific Terms and Conditions of Premium Prepayment Discount:
18. Subject to the General Terms and Conditions and these Specific Terms and Conditions herein, clients who fulfill all of the following requirements will be entitled to the corresponding Premium Prepayment Discount of Basic Plan as shown in the Incentive Table (II) ("Premium Prepayment Discount") in the second policy year: (i) the application of the Eligible Life Insurance Plan is submitted successfully during the Promotion Period; (ii) the first year premium and the second year premium of the Eligible Life Insurance Plan being paid in full at the time of application; and (iii) the policy being successfully issued.
19. The second year premium must be paid together with the initial premium and levy (if any).
20. In case of any changes made by clients in any policy year, which results in the requirements for the Premium Prepayment Discount not being fulfilled, Hong Kong Life reserves the right to disqualify such client's entitlement to the Premium Prepayment Discount and such client agrees to reimburse Hong Kong Life for the amount of the Premium Prepayment Discount already granted to such client upon request.
21. To be eligible for the Premium Prepayment Discount, when paying the first year premium, the second year premium and levy (if any) must be deposited in advance into the Premium Deposit Account ("PDA") at the same time. No interest will be credited and no partial or full withdrawal is allowed for the amount in the PDA. If there are any changes on the amount of the levy which is collected by the Insurance Authority due to any legal or regulatory changes or any other reasons, Hong Kong Life will refund the excess amount of the prepaid levy or recover any outstanding amount from the policyowner as the case maybe.
22. The prepaid premium is subject to the PDA Operation Rules. Please refer to the Operation Rules stipulated in the PDA Application Form for further details.
23. For the avoidance of doubt, the PDA is not equivalent to the Bank's saving account. Any premium prepaid to Hong Kong Life pursuant to this promotion is not protected deposit and is not protected by the Deposit Protection Scheme under the Deposit Protection Scheme Ordinance (Cap 581) of Hong Kong.

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 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 Eligible Life Insurance 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 the cost of living in the future is likely to be higher than it is today due to inflation.

Non-Protected Deposit

The Eligible Life Insurance Plan is not equivalent to, nor should it be treated as a substitute for, time deposit. The Eligible Life Insurance 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, 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.

For enquiry about the Incentive, please call our Customer Services Hotline at 2290 2882.