MyWealth Savings Insurance Plan 2 (Premier)

Wealth Booster Option³ to enhance the projected return of your policy

On the 10^th policy anniversary and any policy anniversary thereafter while the policy is in force, you can apply to exercise the first-in-market¹ “Wealth Booster Option”³ once at most to change the amount components under the policy (refer to Guaranteed Cash Value, face value and cash value of accumulated Reversionary Bonuses¹⁴ (if any), face value and cash value of Terminal Bonus¹⁵ (if any) and the accumulated value of Stable Asset Account⁷ (if any) of the basic plan) according to the long-term target asset allocation under this option in order to enhance the projected return of your policy.

After exercising this option, the “Wealth Accumulation Switching Option”² will be reset as “Advance” (the accumulated value of Stable Asset Account⁷ will be set to zero and its portfolio ratio will also be set to zero percent).

Currency Switching Option^4,5

On the 3^rd policy anniversary and any policy anniversary thereafter and while the policy is in force, you can apply to exercise “Currency Switching Option”^4,5, changing the policy currency of the basic plan of the policy to a different currency (“New Policy Currency”) on the policy anniversary without any evidence of insurability, which fully accommodates your global wealth management goal.

Currency switching is achieved by converting the basic plan of the policy to a designated new plan (“Designated Plan”) with a New Policy Currency (US dollar, Hong Kong dollar, Chinese yuan, British pound sterling, Euro, Singapore dollar, Australian dollar or Canadian dollar) that is available for your choice upon exercising this option. The Designated Plan will be determined by the Company from time to time and may be different from this Plan. Any rider(s) under the policy will also be changed to the new policy currency provided that such rider(s) is (are) also offered and is (are) available in the new policy currency, otherwise such rider(s) will be automatically terminated when this option takes effect. 

Policy Split Option ⁶ achieves independent asset planning with ease

While the policy is in force and the Insured is still alive, after the end of the 5^th Policy Year or the end of the premium payment period (whichever is later), you can split the existing policy into two, which means the Units of the basic plan under the existing policy will be partially allocated to a separate policy (the “Split Policy”). After exercising Policy Spilt Option, the basic plan of the existing policy will remain in force and the effective date shall remain unchanged. Other policy information and instructions under the Split Policy will be the same as the basic plan of the existing policy except Unit, total premiums paid¹⁶, Guaranteed Cash Value, face value and cash value of Reversionary Bonus¹⁴ and Terminal Bonus¹⁵ (if any), accumulated value of Stable Asset Account⁷ (if any) and future premium.

After split, you can change other policy options or instructions at any time. Moreover, you can exercise Policy Split Option⁶ once per Policy Year. Policy Split Option⁶ is also applicable to the Split Policy, maximizing the power of asset allocation.

Guaranteed Cash Value, non-guaranteed Reversionary Bonus¹⁴ and non-guaranteed Terminal Bonus¹⁵

In addition to the increases of Guaranteed Cash Value over the policy years, starting from the 1^st policy anniversary, the Plan declares non-guaranteed Reversionary Bonus¹⁴ annually and non-guaranteed Terminal Bonus¹⁵ at least annually, allowing you to earn potential long-term return (please refer to At-a-Glance Table for details of non-guaranteed Reversionary Bonus¹⁴ and non-guaranteed Terminal Bonus¹⁵).

In the event of death of the Insured and assumed that Policy Continuation Option⁹ has not been exercised, the face value of Reversionary Bonus¹⁴ (if any) and face value of Terminal Bonus¹⁵ (if any) will be paid along with the death benefit. We will pay the cash value of Reversionary Bonus¹⁴ (if any) and Terminal Bonus¹⁵ upon policy surrender (full or partially) or policy termination (other than death of the Insured). The cash value of Reversionary Bonus¹⁴ (if any), cash value of Terminal Bonus¹⁵ (if any) and value of Stable Asset Account⁷ (if any) will be adjusted when you exercise the ^“Wealth Accumulation Switching Option” ². The Guaranteed Cash Value, face value and cash value of accumulated Reversionary Bonuses¹⁴ (if any), face value and cash value of Terminal Bonus¹⁵ (if any) and accumulated value of Stable Asset Account⁷ (if any) will be adjusted when “Wealth Booster Option”³ is approved. These cash values and face values of the bonuses may not be equal.

Dual Succession for passing on legacy to next generations

• Unlimited changes of Insured⁸ and protection of new Insured up to age 128, pass on wealth to your next generations infinitely

  After the 6^th policy monthly anniversary, you may change the Insured for unlimited times⁸. The coverage period will be adjusted to age 128 of the new Insured (“Changed New Insured”), allowing the policy to have sufficient time for wealth accumulation and can be passed on to the next generations.

• Policy Continuation Option(for up to 2 designated beneficiary)⁹

  Apart from unlimited changes of Insured⁸, the Plan specially provides “Policy Continuation Option”⁹. While the Insured is alive and the policy is in force, the Policy Owner can assign 1) up to two beneficiaries; and 2) specify the proportion of the Death Proceeds to be paid for each beneficiary. Upon the unfortunate death of the Insured, the policy will be split according to the number of designated beneficiary(ies) assigned and the proportion of the Death Proceeds specified under the Policy Continuation Option (if applicable).  The designated beneficiary(ies) will become the new Policy Owner(s) (if applicable) and the new Insured(s) (“Continued New Insured”). The coverage period will also be adjusted to age 128 of the Continued New Insured, giving you the flexibility on inheritance and split the policy to different beneficiaries.

Settlement options for Death Benefit¹² or Full Surrender¹³

• Flexible Death Benefit Settlement Option¹² to meet your needs

  While the Insured is still alive and the policy is in force, the Policy Owner can choose from the following Death Benefit Settlement Options flexibly regarding payment of death benefit to different Beneficiary(ies) in different ways in the unfortunate event of the Insured’s death. It allows each Beneficiary to have the most appropriate arrangement.

  i) A lump sum payment; or

  ii) Regular installment payment¹² – Monthly, semi-annually or annually over 10, 20 or 30 years; or

  iii) Increasing installment payments¹² – The Beneficiary can receive a specified amount of first installment of death benefit monthly, semi-annually or annually. Such installments will be increased by 3% each year beginning from the 2^nd year until all death benefit and / or accumulated interest¹⁷ (if any) are fully paid; or

  iv) Customized payment – You can designate a specified year or a specified age of the beneficiary, to start paying (i) regular death benefit to the beneficiary monthly, semi-annually or annually; or (ii) a specified amount of first installment of the death benefit to the beneficiary monthly, semi-annually or annually, and such installments will be increased by 3% each year starting from the 2^nd year until all death benefit and / or accumulated interest¹⁷ (if any) are fully paid; or

  v)A lump sum payment for a specified percentage of the death benefit, such percentage must be equal to or more than 5% of the death benefit, and the remaining will be paid by regular installment payments¹².

  
  For death benefit to be paid to the Beneficiary(ies) at regular installment or increasing installment payments, the remaining amount of death benefit (after deduction of a lump sum payment of a certain percentage of the death benefit, if applicable) must be at least USD 50,000 / HKD 400,000 / CNY 350,000. The amount of death benefit which is yet to be paid under the Death Benefit Settlement Option can also earn an interest¹⁷ (if any).

• Full Surrender Settlement Options¹³

  Once the policy has been in force for 5 years, and if the Policy Owner fully surrenders¹³ the policy. Other than a lump sum payment, the Policy Owner can also choose one of the following options to receive the surrender payment if the surrender payment is at least USD 50,000 / HKD 400,000 / CNY 350,000:

  i) Payments at regular¹³ – Monthly, semi-annually or annually over 10, 20 or 30 years; or

  ii) Increasing payments¹³ – You can specify the first installment of surrender amount to be received monthly, semi-annually or annually. Such installment will be increased by 3% each year beginning from the 2^nd year until all surrender value and / or accumulated interest¹⁷ (if any) are fully paid. The amount of the surrender payment which is yet to be paid can also enjoy an interest¹⁷ (if any).

Premium Holiday¹⁰

The Plan offers Premium Holiday¹⁰ of up to 4 years to provide you with flexibility for your wealth management. You can apply for a Premium Holiday¹⁰ on or after the 2^nd policy anniversary as long as there is no prepaid premium²⁰ and indebtedness. The premium payment of the next policy anniversary will be suspended, and you do not need to worry about the immediate termination of Policy. During the Premium Holiday¹⁰, the face value of non-guaranteed Reversionary Bonus¹⁴ will not be declared, but the Units, Guaranteed Cash Value, the face value of accumulated Reversionary Bonus¹⁴ (if any) and accumulated value of Stable Asset Account⁷ (if any) will remain unchanged.

Premium Waiver¹¹

Accidents or diseases are unforeseeable. Under the following circumstances, we will pay the future premiums of the basic plan to give your beloved ones an extra peace of mind.

1) If the Insured is 18 years old or above¹¹ , and is the Policy Owner at the same time, being diagnosed with total permanent disability²¹ before the age of 75, he or she will entitle to the “Waiver of Premium Benefit”¹¹ . We will pay the future premium of the basic plan for you, up to USD 350,000 / HKD 2,800,000 / CNY 2,450,000 until premium end date that is set at the time of policy issuance. It ensures your wealth will not be affected. (Please refers to the At-a-Glance Table for details of the maximum total amount of premium waived.)

2) If the Insured is 17 years old or below¹¹ , and the Policy Owner (including Contingent Policy Owner²² ) dies or is diagnosed with total permanent disability²¹ before the age of 75, he or she will entitle to the “Payor Benefit” ¹¹ , and we will pay the future premiums of the basic plan for you, up to USD 350,000 / HKD 2,800,000 / CNY 2,450,000 until premium end date that is set at the time of policy issuance to safeguard your child’s future. (Please refers to the At-a-Glance Table for details of the maximum total amount of premium waived.)

Waiver of Premium Benefit¹¹ is subject to designated exclusions. Please refer to the “Key Exclusions Section” and Policy Provisions for more details.

Flexible plan for your financial needs

MyWealth Savings Insurance Plan 2 (Prestige) offers the options of premium payment periods of 5 and 10-year, you may choose to prepay the premium²⁰ by lump sum payment for the policy with 5 years premium payment period, thereby enjoying the benefit of paying up the Plan at a lower cost. Interest¹⁷ (if any) will also be earned on the prepaid premium²⁰.

No medical underwriting – hassle-free application

The application process of basic plan is simple, and no medical check-up is required, this allows you to accumulate wealth with ease.

Free Worldwide Emergency Assistance Service²³

Once enrolled in this Plan, the Insured will have access to free 24-hour worldwide emergency assistance²³ for immediate support wherever he/she may be. The maximum benefit (per incident) reaches up to USD 1,000,000, including services of emergency evacuation or repatriation and delivery of mortal remains. For details, please refer to related documents.

1.“Special-in-market” and “First-in-market” are the results of comparing similar major life insurance savings products of major life insurance companies in Hong Kong as of 26 September 2024.

2. Wealth Accumulation Switching Option and its portfolio ratio

“Stable Asset Account Allocation” = the value of “Stable Asset Account” ÷ (cash value of Reversionary Bonus (if any) + cash value of

Terminal Bonus (if any) + value of Stable Asset Account) x 100%

Within 30  days before or after the 10^th policy anniversary or every policy anniversary thereafter, you may, subject to the prevailing rules of the Company, exercise the Wealth Accumulation Switching Option to adjust the Switching Option of the basic plan of the policy to achieve Stable Asset Account Allocation at your desire, subject to the following conditions: (i) the Switching Option applied for must be different from the default Switching Option of the Basic Plan of the policy (for the first exercise of this option) or the latest Switching Option as shown in our record (if you have already exercised this option before); (ii) except the first time of exercise of this option, the switch date of each subsequent request must be separated by a period of not less than 1 year from the switch date of the preceding exercise of this option; and (iii) all indebtedness must be fully settled before exercising this option. Once the Wealth Accumulation Switching Option is exercised, we will correspondingly adjust the amount of any future cash values and face values of Reversionary Bonus and Terminal Bonus at a rate to be determined by us based on the change(s) of the cash values of Reversionary Bonus and Terminal Bonus. Once the Company approves the request of Wealth Accumulation Switching Option, we will determine the value of Stable Asset Account immediately following such exercise of Wealth Accumulation Switching Option (“Target Value”). The Target Value equals the product of Stable Asset Account Allocation of the elected Switching Option and the aggregate of (i) the accumulated value of Stable Asset Account (if any) immediately before such exercise (“Existing Value”); and (ii) the cash values of Reversionary Bonus and Terminal Bonus immediately before such exercise. We will then adjust the balance of Stable Asset Account from the Existing Value to the Target Value at the switch date, which in the case that the Existing Value is lower than the Target Value, the deficit will be resolved by transferring the latest cash value of Reversionary Bonus (if any) and cash value of Terminal Bonus (if any) to the Stable Asset Account; or in the case that the Existing Value is higher than the Target Value, the surplus from the Stable Asset Account will become the cash value of Reversionary Bonus and cash value of Terminal Bonus. In the event that both Wealth Booster Option and Wealth Accumulation Switching Option are elected on the same policy anniversary, the Wealth Booster Option will be exercised while the elected Wealth Accumulation Switching Option will be automatically withdrawn immediately.  Policy Owner may elect the Wealth Accumulation Switching Option again in the next policy anniversary. Please refer to the Policy Provisions for more details of the Wealth Accumulation Switching Option.

3. Within 30 days before or after the 10th policy anniversary or every policy anniversary thereafter , you may, subject to the prevailing rules of the Company, exercise the Wealth Booster Option to adjust the Guaranteed Cash Value, face value and cash value of accumulated Reversionary Bonuses (if any), face value and cash value of Terminal Bonus (if any), and the accumulated value of Stable Asset Account (if any) of the basic plan to other pre-set level(s) (to be determined by the Company and elaborated in an endorsement and new policy specifications) according to the new long-term target asset allocation, without providing any evidence of insurability while subject to the following conditions: (i) all premiums due and payable under the policy must be settled and any Indebtedness must be fully repaid; (ii) no Premium Holiday is in effect, no application for exercising Policy Split Option, Currency Switch Option, Wealth Accumulation Switching Option or Change of Insured Option is in progress, and no claim is in progress under the basic plan of the policy upon request exercising this Option; (iii) the request cannot be changed or withdrawn once it is submitted; and (iv) this Option can only be exercised once under the policy. After the Wealth Booster Option becomes effective, (i) the Guaranteed Cash Value, face value and cash value of Reversionary Bonus (if any), face value and cash value of Terminal Bonus (if any) and accumulated value of Stable Asset Account (if any) of the basic plan of the policy will be adjusted at the sole discretion of the Company while the Unit will remain unchanged. The future amounts of Guaranteed Cash Value, face value and cash value of Reversionary Bonus (if any), face value and cash value of Terminal Bonus (if any) will also be determined accordingly; (ii) the Wealth Accumulation Switching Option will be reset as “Advance” (i.e. the allocation and value in Stable Asset Account are both zero); (iii) all Complementary Policies (if any) and riders (if any) under the policy will remain in force after the change, subject to the then prevailing rules of the Company; (iv) the beneficiary(ies), policy owner, contingent policy owner (if designated), Initial Insured, Insured, policy currency, Policy Date, policy effective date and Policy Years of the basic plan of the policy will remain unchanged; and (v) previous instruction(s) made under the basic plan of the policy including but not limited to Death Benefit Settlement Option and Policy Continuation Option will remain unchanged unless otherwise specified. In the event that both Wealth Booster Option and Wealth Accumulation Switching Option are elected on the same policy anniversary, the Wealth Booster Option will be exercised while the elected Wealth Accumulation Switching Option will be automatically withdrawn immediately.  Policy owner may elect the Wealth Accumulation Switching Option again in the next policy anniversary. As the equity-like assets in the new long-term target asset allocation are relatively higher, the Guaranteed Cash Value may be subject to reduction and the risk may increase accordingly after the Wealth Booster Option has been exercised. If you have any questions, you can contact your financial consultant for more details or seek independent professional advice. For the long-term target asset allocation of the Wealth Booster Option, please refer to point 6 of “Investment Philosophy, Policy and Strategy” under “Disclosure of Important Information”. Please refer to the Policy Provisions for more details of the Wealth Booster Option.

4. On the 3rd policy anniversary or any policy anniversary thereafter and while the policy is in force, you may, subject to the prevailing rules of the Company, apply to change the policy currency of the basic plan of the policy to a different currency (“New Policy Currency”) through converting the existing basic plan of the policy to a designated new plan (“Designated Plan”) denominated in the New Policy Currency that is available and determined by us without providing any evidence of insurability, subject to the following conditions: (i) successfully submitted the application to change the policy currency to the New Policy Currency (“Currency Switch”) within 60 days immediately preceding any policy anniversary on which the Currency Switch Option is exercised; (ii) all premiums due and payable under the policy must be settled and any indebtedness must be fully repaid; (iii) the relevant Unit of the Designated Plan of the policy following the Currency Switch must not be less than the minimum Unit amount we permit at the time of your request; (iv) no Premium Holiday is in effect under the basic plan of the policy at the time of the Currency Switch; (v) no application for exercising Policy Split Option, Wealth Accumulation Switching Option, Wealth Booster Option or Change of Insured Option is in progress, and no claim is in progress under the basic plan of the policy upon request exercising this option; (vi) your request for exercising the Currency Switch Option cannot be changed or withdrawn once it is submitted; and (vii) Currency Switch Option can only be exercised once during a Policy Year under the policy. The Designated Plan may or may not be the same as the basic plan of the policy, and may have different benefits, plan features and policy terms comparing with those under the basic plan of the policy. Please refer to the Policy Provisions for more details of the Currency Switching Option.

5. Upon the effective date of Currency Change: (i) the basic plan of the policy will be converted to the Designated Plan denominated in the New Policy Currency. All benefits, plan features and policy terms will follow those as provided in the Designated Plan. Policy Effective Date and Policy Years of the policy will remain unchanged after the Currency Switch; (ii) the existing and future amounts of Unit, Guaranteed Cash Value, premium(s) due and payable (if any), total premiums paid, face value and cash value of Reversionary Bonus and Terminal Bonus (if any), accumulated value of Stable Asset Account (if any) of the basic plan of the policy will be determined and adjusted by the Company in our sole discretion based on factors including but not limited to (1) the prevailing market-based exchange rate determined by us from time to time; (2) other investment factors; and (3) other market factors; and (iii) any complementary policies and riders under the policy will remain in force and will be changed to the New Policy Currency, provided that such complementary policies and riders are also offered under the Designated Plan and are available in the New Policy Currency. If such complementary policies and riders are not offered under the Designated Plan or are not available in the New Policy Currency, they shall be automatically terminated from the effective date of Currency Switch.

6. While the policy is in force and the Insured is still alive, after the end of the 5th Policy Year or the end of the premium payment period (whichever is later), and subject to the prevailing rules of the Company, you may exercise Policy Split Option to create a separate policy (the “Split Policy”), allocating a portion of Unit from the basic plan of the policy to the Split Policy but subject to the following conditions without providing any evidence of insurability: (i) after the policy Split Option has been exercised (the “Split”), the respective Unit of the basic plan of the policy and Split Policy must not be less than the minimum Unit amount we permit at the time of your request; (ii) the insured of the Split Policy must be the same as the Insured of the basic plan of the policy; (iii) no claim is in progress under the basic plan of the policy upon request exercising this option; (iv) your request for the policy Split Option cannot be changed or withdrawn once it is submitted; (v) any indebtedness under the basic plan of the policy must be fully repaid before we approve your request ; and (vi) Policy Split Option can only be exercised once during a Policy Year. After the Split is approved, (i) the provisions of the Split Policy will be the same as the basic plan of the policy unless otherwise specified; (ii) the Unit, face value and cash value of Reversionary Bonus and Terminal Bonus (if any), accumulated value of Stable Asset Account (if any) will be reduced and transferred to the Split Policy according to the ratio of the Unit allocated to the basic plan of the policy and the Split Policy. We will determine the existing and future amounts of Guaranteed Cash Value, the face value and cash value of Reversionary Bonus and Terminal Bonus (if any); and future premium respectively for both the basic plan of the policy and the Split Policy according to your allocation of the Units; (iii) the total premiums paid for both the basic plan of the policy and the Split Policy will be adjusted according to your allocation of Units and will be used to calculate death benefit; (iv) subject to the rules of the Company, all riders (if any) under the policy will continue to be effective after the Split; (v) the beneficiary(ies), Policy Owner, Contingent Policy Owner (if designated), Initial Insured, Insured, Policy Currency, Policy Date, Policy Effective Date and Policy Years of the basic plan of this Policy will remain unchanged and the Split Policy will have the same beneficiary(ies), Policy Owner, Contingent Policy Owner (if designated), Initial Insured, Insured, Policy Currency, Policy Date, Policy Effective Date and Policy Years of the basic plan of this Policy; and (vi) previous instruction(s) made under the basic plan of the policy including but not limited to Wealth Accumulation Switching Option, Wealth Booster Option, Death Benefit Settlement Option and Policy Continuation Option will also apply to the Split Policy unless otherwise specified. The Split Policy will be effective only after its policy provisions and policy specifications are issued. Please refers to the Policy Provisions for more details of Policy Split Option.

7. Account determined in accordance with the Wealth Accumulation Switching Option provision in which its long-term target asset allocation is 100% in fixed income type securities. The value in the Stable Asset Account will be accumulated at such interest rate as may be declared by us from time to time. Interest rates on the Stable Asset Account are not guaranteed and may even be 0% in any year.

8. Changing the Insured is subject to the prevailing administrative rules and designated requirements. The Unit, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any) and the face value of Terminal Bonus (if any), any accumulated value of Stable Asset Account, Policy Date and Policy Years will remain the same on the Insured-Change Effective Date while the Plan End Date will be adjusted to the date of policy anniversary on the 128th birthday of the Changed New Insured or following the 128th birthday of the Changed New Insured (whichever is applicable). The Changed New Insured must be aged 64 (last birthday) or below. The change of Insured must be endorsed by the Policy Owner, proposed new Insured and Assignee (if any). Both the new Insured and the current Insured must be alive and the policy is in force at the time the Insured is changed and provided with satisfactory proof of evidence of insurability for the proposed new Insured. We shall cease to provide any coverage for the initial Insured or the prior Insured on our record (when applicable and as the case may be) as from the Insured-Change Effective Date. All riders (if any) will be terminated on the Insured-Change Effective Date. Please refer to the Policy Provisions for details of Changing of Insured Option.

9. Prior to the death of the Insured, the Policy Owner can assign one or two beneficiary(ies) for the Policy Continuation Option and specify the proportion of the Death Proceeds to be paid to each beneficiary for the Policy Continuation Option. Upon the death of the Insured, if the Policy Owner (still alive) and the Insured are different persons, the beneficiary will become the Continued New Insured; if the Policy Owner died at the same time or the Policy Owner and the Insured is the same person, subject to the prevailing administrative rules of the Company, the beneficiary will become the new Policy Owner and Continued New Insured of the policy in order to keep the policy in force after  the Insured dies. If Policy Continuation Option has been exercised, and (i) only one beneficiary is designated under the policy and such beneficiary has been elected for the Policy Continuation Option prior to the death of the Insured, after this option has been exercised, all Units, Total Premiums Paid, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any), the face value of Terminal Bonus (if any) and any accumulated value of Stable Asset Account (if any), Policy Date and Policy Years will remain unchanged on the Policy Continuation Effective Date, while the respective plan end date of the basic plan of the policy will be adjusted to the date of policy anniversary on the 128th birthday of the Continued New Insured or the immediately following policy anniversary (whenever is applicable); (ii) if there is more than one beneficiary designated under the policy and one or two beneficiary(ies) has/have been elected for the Policy Continuation Option prior to the death of the Insured, one or two basic plan(s) of the policy will be created upon the death of the Insured, and regarding each newly created basic plan, the respective unit, Total Premiums Paid, Guaranteed Cash Value, the respective face value of accumulated Reversionary Bonuses (if any) and the respective face value of Terminal Bonus (if any) and any respective accumulated values of the Stable Asset Account will be adjusted according to the proportion of the Death Proceeds specified by the Policy Owner for each beneficiary selected for the Policy Continuation Option. The respective Policy Date and Policy Years will remain unchanged on the Policy Continuation Effective Date, while the respective plan end date of the basic plan of the policy will be adjusted to the date of policy anniversary on the 128th birthday of the Continued New Insured or the immediately following policy anniversary (whenever is applicable). The surrender payment may be equal to or lower than death benefit before this option has been exercised. If the Death Benefit Settlement Option has already been selected for the beneficiary who has also been elected for the Policy Continuation Option, you shall cancel the Death Benefit Settlement Option arrangement for such beneficiary before your submission of any written request for the Policy Continuation Option. All riders (if any) will be terminated on the Policy Continuation Effective Date. For the beneficiary(ies) who has/have not been elected for the Policy Continuation Option(if any), the Death Benefit will be paid to each of these beneficiary(ies) in a lump sum or the respective option under the Death Benefit Settlement Option provision elected by the Policy Owner. If the Policy Owner has selected both Policy Continuation Option and Death Benefit Settlement Option, Policy Continuation Option will automatically be exercised (regardless of the order of selection). After Policy Continuation Option has been exercised, the Policy Continuation Option and Death Benefit Settlement Option previously selected by the Policy Owner will automatically become invalid Please refer to the Policy Provisions for details of Policy Continuation Option. 

10.  The length of a Premium Holiday for each application should be a multiple of 1 year until it reaches the maximum limit. Premium Holiday is only applicable to the basic plan and will be effective on the next policy anniversary, but all riders attached to the policy will be terminated at the same time. We will defer the premium end date and premium due date according to the Premium Holiday Period approved. Riders attached to the policy can be re-attached after Premium Holiday, however, the premium and approval should be subject to rider application at that time. During the Premium Holiday, you do not need to pay premiums for the basic plan, the Units, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any), accumulated value of Stable Asset Account and protection under the basic plan will remain unchanged during the period, provided that you have not partially surrendered during the Premium Holiday. The cash value of Reversionary Bonus and Terminal Bonus (if any) are non-guaranteed. During the Premium Holiday, we will not declare any face value of non-guaranteed Reversionary Bonus. Please refer to the Policy Provisions for details of Premium Holiday.

11. There are 2 types of premium waivers: (i) “Waiver of Premium Benefit” is applicable to the Insured whose age at policy issuance or the change of Insured is between 18 and 60 and is the Policy Owner at the same time, and is diagnosed with total permanent disability before the age of 75. (ii) “Payor Benefit” is applicable to the latest Insured whose age at policy issuance or the change of the Insured is at the age 17 or below; the latest Policy Owner (including contingent Policy Owner) whose age at policy issuance or the change of the Policy Owner (including Contingent Policy Owner) is at the age of 60 or below, and dies or is diagnosed with total permanent disability before the age of 75. After the waived premium of the basic plan reaches the maximum total amount of premium waived (per Insured) and/ or on the waiver of premium end date (until the premium end date that is set at the time of policy issuance), the Policy Owner should pay the remaining premium; otherwise, the automatic premium loan will be applied, or the policy will be terminated. In addition to the premiums stated above, if premiums falling due in the relevant Waiver of Premium Benefit Period are paid before we approve a claim of this benefit, such premiums will be fully refunded (with no interest). If the incident is resulted from accident, immediate protection will be given. If a person dies or is diagnosed with total permanent disability due to illness, a 2-year waiting period is required. Please refer to the Policy Provisions for details of “Waiver of Premium Benefit” and “Payor Benefit”.

12. If the Policy Owner opts for by payment of a specified percentage of the death benefit in a lump sum and the remaining balance by regular installments, the lump sum amount should equal to or greater than 5% of the death benefit. However, interest on unpaid death benefit is not guaranteed, therefore interest may be less than expected and the actual payout period may be shorter than the selected period. Only lump sum death benefit is applicable if an assignment is made. If the beneficiary(ies) die(s) while receiving the death benefit payments, the remaining amount will be paid to the beneficiary(ies)’ estate. If no beneficiary(ies) survives upon the death of the Insured yet the Policy Owner is still alive, the death benefit will be paid to the Policy Owner in accordance with the Death Benefit Settlement Option. Policy Owner may also request to receive the death benefit in lump sum. If the Policy Owner dies while receiving the death benefit payment, the remaining death benefit will be paid in a lump sum to the Policy Owner’s estate. If the Death Benefit and/or accrued interest (if any) remain after the last installment is paid, we will pay the remaining balance of the Death Benefit and accrued interest (if any) in a lump sum to the beneficiary. If the beneficiary has been selected as designated beneficiary for the Policy Continuation Option, you shall cancel of the Policy Continuation Option by written request before your submission of Death Benefit Settlement Option for the respective beneficiary(ies). For the beneficiary(ies) who has/have not been elected for the Policy Continuation Option, the Death Benefit will be paid in a lump sum or pursuant to the Death Benefit Settlement Option provision to each of these beneficiary(ies) depending on the respective option elected by the Policy Owner. If the Policy Owner has selected both Policy Continuation Option and Death Benefit Settlement Option, Policy Continuation Option will automatically be exercised (regardless of the order of selection). After Policy Continuation Option has been exercised, the Policy Continuation Option and Death Benefit Settlement Option previously selected by the Policy Owner will automatically become invalid. Please refer to the Policy Provisions for details of Death Benefit Settlement Option.

13. Upon full surrender, the Policy Owner may choose to receive surrender payment in a fixed amount on payments at regular intervals or by increasing payments. However, interest on unpaid surrender payment is not guaranteed, therefore interest may be less than expected and the actual payout period may be shorter than the selected or expected period. If the Policy Owner dies while receiving the surrender payments and/or accumulated interest (if any), the remaining surrender payment and/or accumulated interest (if any) will be paid in lump sum to the Policy Owner’s estate. Please refer to the Policy Provisions for details of Full Surrender.

14. The face value and cash value of Reversionary Bonus are non-guaranteed. However, once declared, the declared face value of

Reversionary Bonus will become guaranteed and forms a permanent addition to the policy. Non-guaranteed Reversionary Bonus may be declared at the sole discretion of the Company (i) from the 1st policy anniversary; provided that (ii) all premiums due have been paid up to each relevant Policy anniversary; and (iii) no Premium Holiday has ever been taken effect. We will pay the cash value of Reversionary Bonus (if any) upon surrender (full surrender or partial surrender), maturity, policy termination due to non-payment of premium; or transfer the cash value of Reversionary Bonus (if any) to the Stable Asset Account (if applicable) under the Wealth Accumulation Switching Option provision or Wealth Booster Option provision. You may withdraw cash value of the Reversionary Bonus (if any) (in full surrender or partial surrender) by written. After the withdrawal of cash value of Reversionary Bonus, the face value of Reversionary Bonus, and the face value and cash value of Reversionary Bonus of the policy in the future will be reduced. Please refer to the Policy Provisions for details of Reversionary Bonus.

15.A non-guaranteed Terminal Bonus may be declared for this Plan by the company starting from the 1st policy anniversary. Non-guaranteed Terminal Bonus and its amount may be paid at the sole discretion of the Company. The cash value of Terminal Bonus should be either equal to or less than the face value of Terminal Bonus. We will pay the cash value of Terminal Bonus (if any) upon surrender (full surrender or partial surrender), maturity, policy termination due to non-payment of premium; or transfer the cash value of Terminal Bonus (if any) to the Stable Asset Account (if applicable) under the Wealth Accumulation Switching Option provision or the Wealth Booster Option provision.

16. Total premiums paid referred as the total amount of premium(s) due and paid for the basic plan of the policy or Split Policy (if

established under the terms of policy split option), and (i) after Large Size Discount (if applicable) but before any other premium

discount (if any); (ii) pro-rated by the ratio of remaining Units after partial surrender to the Units at policy issuance; if the policy is partially surrendered, the total premiums paid will be proportionately reduced, and (iii) any amount in the Premium Deposit Account (if applicable) does not form part of the total premiums paid.

17. The current interest rate offered is 2% p.a., but it is not guaranteed.

18. Large Size Discount is only applicable to basic premium of this Plan. Premium of other riders (if applicable) will not be entitled to the Large Size Discount. The Large Size Discount is offered to each eligible Policy of this Plan. If customer has enrolled for more than one Policy of this Plan, all policies will be entitled to Large Size Discount. However, the eligible annual premium of these Policies will not be aggregated in calculating the rate of Large Size Discount. The Large Size Discount will be adjusted according to the reduced Units upon partial surrender.

19. Total premiums paid is defined as the total amount of premium(s) due and paid for the basic plan of the policy or Split Policy (if created pursuant to Policy Split Option provision) up to the date of death of the Insured and (i) after Large Size Discount (if applicable) but before any other premium discount (if any); (ii) pro-rated by the ratio of remaining Units at the time of death of the Insured to the Units at policy issuance; and(iii) any amount in the Premium Deposit Account (if applicable) does not form part of the total premiums paid.

20. The premium prepayment option is only applicable to annual premium payment mode. The prepaid premium will be credited to the premium deposit account and accumulate at the prevailing interest rate offered at that time (The current interest rate offered is 2% per annum, but it is not guaranteed). You can withdraw the full amount of the prepaid premiums from the premium deposit account. However, any interest credited will be forfeited. If the amount of the premium deposit account is not sufficient to pay the premium and premium levy due to a decrease in interest rate, the Policy Owner is required to make up the relevant premium difference (including premium levy). Otherwise, the policy will be terminated or subject to an automatic premium loan. If the Insured passes away, the premium deposit account balance (if any) will be payable to the Policy Owner without any charge.

21. Total permanent disability refers to any of the following that results from an illness or injury: i) the total and irrecoverable loss of sight of both eyes; or (ii) the complete and permanent paralysis of 2 limbs or actual severance at or above wrist or ankle of 2 limbs; or (iii) total and irrecoverable loss of the sight of 1 eye and either the complete and permanent paralysis of 1 limb or actual severance at or above wrist or ankle of 1 limb.

22. Contingent Policy Owner refers to the person who is appointed by the Policy Owner on our company’s application or on our designated form and is approved as Contingent Policy Owner by our company. Please refer to Policy Provisions for details about the Contingent Policy Owner.

23. Free Worldwide Emergency Assistance Services are provided by the third party service provider. We reserve the right to change the terms and conditions of Free Worldwide Emergency Assistance Service and assumes no responsibility of the services provided by the third party service provider.

24. The minimum premium is calculated before any other premium discount (if any).