Regent Elite Insurance Plan II (Premier)

All-rounded tool for passing on legacy to next generations

While the Insured is alive and the Policy is in force, the first-in-market^* "Dual Succession" allows the Policy Owner to i) change the Insured unlimitedly² and ii) assign a new Insured in advance through Policy Continuation Option³, even in the event of an accident which leads to failure in changing the Insured on time, this option can prevent the Policy from termination due to the death of the Insured. It provides you the most secure way to pass on your wealth!

^*The "First-in-market" items are the result comparing similar major life insurance savings products of major life insurance companies in Hong Kong, as of 27 September 2021.

Unlimited changes of Insured and protection of new Insured up to age 128²

After the 1^st Policy Anniversary, you may change the Insured for unlimited times². The coverage period will be adjusted to the 128^th birthday of the new Insured. Policy value would have sufficient time for wealth accumulation and can be passed on to the next generations infinitely.

Policy Continuation Option (to the Beneficiary)³

Apart from unlimited changes of Insured², the Plan specially provides "Policy Continuation Option"³. While the Insured is alive and the Policy is in force, the Policy Owner can assign a Beneficiary and upon the death of the Insured, the Beneficiary will become the new Policy Owner (if applicable) and the new Insured. Even if the Insured accidentally passes away, the Policy can still be passed on to the next generations. The coverage period will also be adjusted to age 128 of the new Insured.

Guaranteed breakeven period as short as 15 years^#

The guaranteed breakeven period of Regent Elite Insurance Plan II (Premier) is as short as 15 years^#. Even if the Policy value is withdrawn in early years, you can still enjoy the potential returns. The term of the Policy is up to age 128 of the Insured, which provides ultra long-term wealth growth opportunities and extends your wealth to next generations. The Plan provides guaranteed cash value, non-guaranteed reversionary bonus⁴ and non-guaranteed terminal bonus⁴, allowing your wealth to grow continuously.

^#Guaranteed breakeven period refers to the Policy Year that the guaranteed cash value is equal to or greater than the total premiums paid⁹ by the end of that year for the first time. The 15-year guaranteed breakeven period is only applicable to Policy with net annual premium (after Large Size Discount (if applicable) and before any other premium discount (if any)) of USD 50,000 or above with 2 years premium payment period and annual premium payment mode.

Bonus Lock-in Options⁵

To protect your wealth against market volatility, you can choose to apply for one of the following Bonus Lock-in Options⁵ to transfer and accumulate the latest cash value of reversionary bonus⁴ and terminal bonus⁴ in the Bonus Lock-in Account or withdraw it in times of need. The cash value of reversionary bonus⁴ and terminal bonus⁴ which has been transferred to Bonus Lock-in Account will become guaranteed. This brings you a stable return and also allows you to earn interest¹³.

1. Automatic Lock-in Option⁵
   
   Starting from the 15^th policy anniversary or the policy anniversary immediately follows the insured reaches the retirement age selected by you (must be 55 years old or above) (whichever is later), we will automatically transfer the latest cash value of reversionary bonus⁴ and terminal bonus⁴ which is equivalent to 8% of total premiums paid⁹ to the Bonus Lock-in Account after deduction of any Indebtedness on each policy anniversary, until the remaining cash value of reversionary bonus⁴ and terminal bonus⁴ falls which is equivalent to 30% of total premiums paid⁹ at certain policy anniversary.
2. Manual Lock-in Option⁵
   
   Starting from the 15^th policy anniversary, you can apply to transfer the latest cash value of reversionary bonus⁴ and terminal bonus⁴ on your choice to the Bonus Lock-in Account after deduction of any Indebtedness on your designated policy anniversary(ies). 10% or above of the latest cash value of reversionary bonus⁴ and terminal bonus⁴ can be transferred each time, up to a total of 80%, while a 3-year or above interval between each transfer is required.

Flexible withdrawal of Policy value

At different stages of life, you can withdraw the Policy value flexibly according to your financial needs. You can withdraw cash in lump sum or by installments to implement your plans.

The cash amount from withdrawal of non-guaranteed reversionary bonus⁴ (if any), partial surrender is non-guaranteed. And this will result in a reduction in the units and guaranteed cash value (applicable to partial surrender), the face value and cash value of non-guaranteed reversionary bonuses⁴ and non-guaranteed terminal bonus⁴ (if any) that has been declared or may be paid in the future. The amount used in the calculation of death benefit will also be decreased accordingly. The Policy shall be terminated upon full surrender. Please refer to At-a-Glance Table for details of withdrawal arrangement.

Guaranteed cash value, non-guaranteed reversionary bonus⁴ and non-guaranteed terminal bonus⁴

In addition to the increases of guaranteed cash value over the years, Regent Elite Insurance Plan II (Premier) declares non-guaranteed reversionary bonus⁴ and non-guaranteed terminal bonus⁴ annually starting from the 1^st Policy Anniversary. The Plan allows your wealth to grow continuously so as to earn a higher long-term return (please refer to At-a-Glance Table for details of non-guaranteed reversionary bonus⁴ and non-guaranteed terminal bonus⁴)

Upon the death of the Insured, the face value of accumulated reversionary bonuses⁴ (if any) and the face value of non-guaranteed terminal bonus⁴ (if any) under the Policy will be used to calculate the amount of death benefit. Otherwise, upon partial surrender / full surrender, maturity, policy termination or exercising the Bonus Lock-in Options, we will pay the cash value of accumulated reversionary bonuses⁴ (if any) and the cash value of non-guaranteed terminal bonus⁴ (if any) under the Policy. These cash values are not guaranteed.

Premium holiday⁶

The Plan offers premium holiday⁶ of up to 2 years to provide you with flexibility for your wealth management. You can apply for a premium holiday⁶ on or after the 3^rd Policy Anniversary as long as there is no prepaid premium¹⁰ 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 holiday⁶, the non-guaranteed reversionary bonuses⁴ will not be declared, but the units, guaranteed cash value and the face value of accumulated reversionary bonuses⁴ (if any) will remain unchanged.

Premium waiver⁷

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 above⁷, and is the Policy Owner at the same time, and diagnosed with total permanent disability¹¹ before the age of 75, he or she will entitle to the "Waiver of Premium Benefit" ⁷. We will pay the future premium of the basic plan for you, up to USD 500,000 until premium end date that is set at the time of Policy issuance. It ensures your wealth accumulation will not be affected.
2. If the Insured is 17 years old or below⁷, and the Policy Owner (including contingent Policy Owner¹²) dies or is diagnosed with total permanent disability¹¹ before the age of 75, he or she will entitle to the "Payor Benefit" ⁷ , and we will pay the future premiums of the basic plan for you, up to USD 500,000 until premium end date that is set at the time of Policy issuance to safeguard your child’s future.

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

Flexible Death Benefit Settlement Option⁸ for each Beneficiar

In the unfortunate event of the death of the Insured, we will pay a death benefit of up to 110% of total premiums paid⁹ for your peace of mind (please refer to At-a-Glance Table for details of death benefit).

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 protection.

1. A lump sum payment; or
2. Installment payment; or
   1. Regular installment payment⁸
      Monthly, semi-annually or annually over 10, 20 or 30 years; or
   2. Increasing installment payment⁸
      The Beneficiary will receive a designated amount of first installment by monthly, semi-annually or annually. Such installments will be increased by 3% each year starting from the 2^nd year until all death benefit and accrued interest¹³ (if any) stated above are fully paid.
3. Lump sum + installment payment
   A designated percentage of death benefit will be paid in lump sum and the balance by regular installments⁸. Such percentage must be equal to or more than 5% of the above stated benefit.

If you choose the above (2) - (3) options to pay the death benefit to the Beneficiary(ies), the remaining amount in installment payment of death benefit (after deduction of a lump sum payment of a certain percentage of death benefit, if applicable) must be at least USD 50,000 (per Beneficiary). The remaining amount of death benefit which is yet to be paid can also earn interest¹³ (if any).

Full Surrender Settlement Options¹⁴

Once the Policy has been in force for 5 years, and if the Policy Owner fully surrenders the Policy, other than a lump-sum payment, the Policy Owner can also choose from the following options to receive the surrender payment if the surrender payment is at least USD 50,000:

(1) Payment at regular intervals¹⁴
Monthly, semi-annually or annually over 10, 20 or 30 years. The amount of the surrender payment which is yet to be paid can also enjoy an interest¹³ (if any); or

(2) Payment by increasing payments¹⁴
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 second year until all surrender value and accumulated interest¹³ (if any) are fully paid. The amount of the surrender payment which is yet to be paid can also enjoy an interest¹³ (if any).

Flexible plan for your financial needs

Regent Elite Insurance Plan II (Premier) offers the options of premium payment periods of 2 and 5 years, you may choose to prepay the premium¹⁰ by lump sum payment, thereby enjoying the benefit of paying up the Plan at a lower cost. Interest¹³ (if any) will also be earned on the prepaid premium¹⁰.

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 service¹⁵

Once enrolled in Regent Elite Insurance Plan II (Premier), you will have access to free 24-hour worldwide emergency assistance for immediate support wherever you 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. Large Size Discount is only applicable to the basic premium (before any other premium discount (if any)) of Regent Elite Insurance Plan II (Premier) (“eligible Policy”), premium of other riders (if applicable) will not be entitled to Large Size Discount. Large Size Discount is offered per unit of each Policy of Regent Elite Insurance Plan II (Premier). If you have enrolled in more than one Policy of Regent Elite Insurance Plan II (Premier), all policies will be entitled to Large Size Discount within the relevant premium payment period. However, the annual premium of these policies will not be aggregated in calculating the Large Size Discount rate. After partial surrender, the Large Size Discount rate will be adjusted according to the reduced units.
2. Changing the Insured is subject to the prevailing administrative rules and shall not affect the units, guaranteed cash value, the face value of accumulated reversionary bonuses (if any), the face value of terminal bonus (if any) and any accumulated values of the Bonus Lock-in Account (if any), Policy Date and Policy Year. The Plan End Date will be changed to the date of Policy Anniversary on the 128^th birthday of the new Insured or the immediately following Policy Anniversary (whenever is applicable). The new Insured must be aged 65 years of age (last birthday) or below and must not be elder than the initial Insured by 10 years. 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 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 complementary Policy (if any) and riders (if any) will be terminated on the Insured-Change Effective Date. Please refer to the Policy Provisions for details of changing the Insured.
3. Upon the death of the Insured, if the Policy Owner (still alive) and the Insured is different person, the Beneficiary will become the new Insured. Upon the death of the Insured, if the Policy Owner died at the same time or the Policy Owner and the Insured is the same person, the Beneficiary will become the new Policy Owner and new Insured of the Policy, subject to the prevailing administrative rules of the Company. After this option has been exercised, all units, guaranteed cash value, the face value of accumulated reversionary bonuses (if any), the face value of terminal bonus (if any) and any accumulated values of the Bonus Lock-in Account (if any), Policy Date and Policy Year will remain unchanged. Plan End Date of the basic plan of this Policy will be adjusted to the date of Policy Anniversary on the 128^th birthday of the 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, you shall cancel the Death Benefit Settlement Option arrangement before your submission of any written request for this Policy Continuation Option. All complementary Policy (if any) and riders (if any) will be terminated on the Policy Continuation Effective Date. Please refer to the Policy Provisions for details of Policy Continuation Option.
4. The face value and cash value of reversionary bonus and terminal bonus are not 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 / non-guaranteed terminal 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. Each declaration of non-guaranteed reversionary bonus and non-guaranteed terminal bonus will be based on a number of factors, including but not limited to investment returns and general market volatility, which may be greater or lesser than the previous amount. Please refer to the Policy Provisions for details of non-guaranteed reversionary bonus and non-guaranteed terminal bonus.
5. You can apply changes between Bonus Lock-In Options for unlimited times before exercising it. Once the option has been exercised, you can only cancel the elected option and no change between options is allowed. The actual amount of the cash value of reversionary bonus and terminal bonus through “Manual Lock-in Option” will be determined and transfer to the Bonus Lock-in Account after the application is approved. The amount may be lesser or higher than the cash value of reversionary bonus and terminal bonus shown at the time when you submit your application. After transferring the value to the Bonus Lock-in Account, future face value and cash value of reversionary bonus and terminal bonus will be reduced accordingly. Any cash value of reversionary bonus and terminal bonus that has not yet been transferred can be higher or lower or reduced to zero. While the “Automatic Lock-in Option” is in force, the option will be immediately suspended upon partial surrender, and you have to submit a request to resume “Automatic Lock-in Option”. The value transferred to Bonus Lock-in Account will be accumulated at an interest rate of 4.25 p.a. (The interest rate is not guaranteed and may be declared by us from time to time).
6. 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. Riders attached to this 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) 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. Premium holiday is not applicable to the policy of premium payment period of 2-year. Please refer to the Policy Provisions for details of premium holiday.
7. 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”.
8. If the Policy Owner opts for the Beneficiary to receive “a lump sum payment for a specified percentage of the death benefit and the remaining balance by installments”, the lump sum amount should equal to or greater than 5% of the death benefit. Please note that the 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 regular death benefit payments, the remaining amount will be paid to the Beneficiary(ies)’ estate. If no Beneficiary(ies) survives the Insured and 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 regular death benefit payment, the remaining death benefit will be paid in a lump sum to the Policy Owner’s estate. This option is not available for the Policy with Policy Continuation Option being selected. Please refer to the Policy Provisions for details of death benefit settlement option.
9. Total premiums paid refers to the total amount of premium(s) due and paid for the basic plan (After Large Size Discount (if applicable) and before any other premium discount (if any)). For Policy with premium prepayment, the premium prepayment in premium deposit account will not be calculated in the total premiums paid. If you have partially surrendered, total premiums paid will be reduced proportionally.
10. The premium prepayment option is only applicable to annual premium payment mode. The prepaid premium will be credited to your 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 due to a decrease in interest rate, the Policy Owner is required to make up the relevant premium difference. 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.
11. 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 two limbs or actual severance at or above wrist or ankle of two limbs; or iii) the total and irrecoverable loss of the sight of one eye and either the complete and permanent paralysis of one limb or actual severance at or above wrist or ankle of one limb.
12. 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.
13. The current interest rate offered is 2% p.a., but it is not guaranteed.
14. Upon full surrender, the Policy Owner may choose to receive surrender payment at regular intervals or by increasing payments. Please note that the interest on unpaid surrender payment is not guaranteed, therefore interest may be less than expected and the actual or expected payout period may be shorter than the selected period. If the Policy Owner dies while receiving the regular death benefit payments, the remaining surrender payment will be paid in lump sum to the Policy Owner’s estate.
15. 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.
16. The total premiums paid of minimum annual premium is after large size discount (if applicable) but before any other premium discount (if any).