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"Gorgeous" Universal Life Protection Plan
"Gorgeous" Universal Life Protection Plan provides comprehensive life protection along with annual interest returns, and all the flexibility you need to meet your financial needs. It is your first choice in life protection, wealth appreciation and inheritance.
Period
Whole life
Single premium or 6 years premium payment period: Age 18 to 75 years9 or 12 years premium payment period:Age 18 to 70 years
You can buy this from
Your Financial Consultant
- Self-determined sum insured
- Advanced Death Benefit1
- Annual interest returns, guaranteed crediting interest rate2,3 of no less than 2% p.a.
- Inject a lump sum of Top-up premium4
- Free-of-charge withdrawal arrangement5,6
Remarks
- Advanced Death Benefit is payable only when the insured provides proof that has been certified by 2 medical practitioners acknowledged by Chow Tai Fook Life Insurance Company Limited ("CTF Life" / "We") that the insured has no more than 12 months left to live from the date of such diagnosis. For details, please refer to the policy provisions.
- We determine and announce the crediting interest rates at our sole discretion. Therefore, the crediting interests are not guaranteed, and the account value can be lower or higher than expected. The minimum guaranteed crediting interest rate of no less than 2% p.a. is only applicable to the basic account. Please contact your financial consultant or visit our company website from time to time for the latest applicable rates.
- The full year crediting interest on the planned premium of the first policy year will be credited to the basic account in one lump sum upon the payment of the planned premium. Interests for the top-up account and the basic account (from the second policy year onwards) will be calculated on a daily accrual basis and credited to the relevant accounts on each policy anniversary until the insured reaches 120 years of age. Under exceptional circumstances, including but not limited to, any financial crisis or suspension of dealings on a major stock exchange, where we are not reasonably practicable to determine the crediting interest rate, we may defer the announcement of the crediting interest rate for a period not exceeding 6 months.
- You may request to pay top-up premium, subject to the terms and conditions in the policy provisions. We reserve the right to reject such requests and shall not be liable for any loss arising from such rejections. For single premium plan, the planned premium must be fully settled before a request to pay top-up premium in the first policy year can be made.
- The withdrawal sequence is first-in-first-out from the top-up account layers and then first-in-first-out from the basic account. Withdrawal from the basic account value may trigger a decrease of the sum insured, but withdrawal from the top-up account will not affect the sum insured. We have the right to postpone the payment of withdrawal or surrender value up to six months from the date of your request. We shall not be liable for any loss incurred as a result of such postponement. We reserve the right to change the terms and conditions for withdrawal sequence and decrement of the sum insured from time to time by giving you one month’s prior written notice.
- You may make withdrawal at any time, subject to the prevailing administrative requirements for minimum withdrawal amount at the time of each withdrawal. The immediate account value after the withdrawal should meet the minimum account balance requirement and the minimum sum insured should also be maintained.
- The length of a Premium Holiday of each application must be either 1 year or 2 years, and the maximum of the total length of Premium Holiday per policy must not exceed 2 years. The Premium Holiday shall take effect from the following policy anniversary after the approval of your request. During the Premium Holiday, you do not need to pay the premium of this plan and the sum insured will remain unchanged. We will continue to deduct the policy charges from and credit crediting interests to the account value. The premium end date and premium due date will be deferred according to the Premium Holiday period. After the Premium Holiday, you should resume paying the planned premium otherwise the policy may be terminated. Premium Holiday is only applicable to any policy with a premium payment term of 6, 9 or 12 years on condition that all planned premium of the first 3 years or above are fully paid. Premium Holiday is not applicable to any policy with a single premium payment or a policy loan. Please refer to the policy provisions for details about the Premium Holiday.
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The above product summary is for reference only. For more details on the product, please refer to the policy terms and benefits.
If you are interested in this product, please contact your insurance consultant.
