Smart 1 Single Premium Savings Insurance Plan
Smart 1 Single Premium Savings Insurance Plan (The “Plan”) is a life insurance plan with savings elements. The plan is underwritten by Hong Kong Life Insurance Limited (“Hong Kong Life”).
“Power Pro Rewards 2024” Client Promotion Incentive - Savings Insurance Plan (Exclusive for Online Application):
- From now till 30 April 2024, successful applications of the Plan may enjoy 2.45% single premium discount for HKD policy.
- For HKD Policy, with the single premium discount, the Maturity Benefit is 104.56% of the total discounted premiums paid, which is equivalent to a guaranteed return rate of 4.56% p.a. upon the Policy Maturity.
- Terms and conditions applies.
- HKD Policy Currency
- Single premium for 1-year life protection
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Maturity Benefit:
For HKD Policy: 104.56% of the total discounted premium paid, which is equivalent to a guaranteed return rate of 4.56% p.a.
- Accidental Death Benefit#
- The calculation of Maturity Benefit is assuming with the 2.45% single premium discount (applicable to HKD policy)
- Simple online application and no medical examination is required
(Applicable to online application)
- Proposed Policyowner and Life insured must be the same person
- Issue age from 18 to 64 (Age means age of the Life Insured at the last birthday)
- Holds a valid permanent HKID card
- Hong Kong tax resident only
- Birth place is outside USA
| Premium Payment Term | Single Premium |
| Issue Age | Age 18 to 64 (Age means age of the Life Insured at the last birthday) |
| Policy Currency | HKD |
| Benefit Term | 1 Year |
| Minimum Principal Amount* | HKD50,000 |
| Maximum Principal Amount* | HKD100,000 (Determined by the aggregate Principal Amount of all Smart 1 Single Premium Savings Insurance Plan covering per Life Insured in Hong Kong Life insured through online application) HKD10,000,000 (Determined by the aggregate Principal Amount of all Wealthy Achiever Single Premium Protection Plan, Wealthy Achiever II Single Premium Protection Plan, Smart 3 Savings Insurance Plan, Fortune Plus Savings Insurance Plan, Fortune Plus II Savings Insurance Plan and Smart 1 Single Premium Savings Insurance Plan policies covering per Life Insured) |
| Premium Payment Mode | Single Premium |
| Other Requirement | Proposed Policyowner and Life Insured must be the same person Holds a valid HKID card Hong Kong tax resident only |
Remarks:
#The Accidental Death Benefit is only applicable to the Life Insured who is Hong Kong resident. The indemnity of the Accidental Death Benefit equals to 10% of the Total Premiums Paid of the Plan. In no event shall such indemnity under the Accidental Death Benefit exceed an aggregate maximum of HKD100,000 in respect of all accidental death benefit coverage on the Life Insured, counting all policies issued by Hong Kong Life.
*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.
