China Life SaveForward Endowment Plan

Transcription

1 China Life SaveForward Endowment Plan Lifelong Promise. Lifelong Partner

2 About Us Established in 2015, China Life Insurance (Singapore) Pte. Ltd. is a licensed life insurer which is regulated by the Monetary Authority of Singapore. As part of China Life Insurance (Group) Company ( China Life ) which is the largest financial insurance corporation in China, we are backed by its financial strength and established heritage. China Life is a Fortune Global 500 company for 16 consecutive years and was ranked 42 nd in It is an influential global brand with a brand value of over USD48.16 billion*. Our parent company, China Life Insurance (Overseas) Company Limited ( China Life (Overseas) ) is a wholly-owned subsidiary of China Life, and is a leading life insurance company in both Hong Kong and Macau with an asset value of more than USD38.22 billion (December 2017). China Life (Overseas) has been providing financial services in Hong Kong and Macau since 1984 and 1989 respectively. In 2017, its premium income exceeded USD8.92 billion. Its financial rating by Moody s was A1 (insurance financial strength rating in September 2017) and by Standard & Poor s was A (long-term local currency issuer credit rating and insurer financial strength rating in January 2018). We are a socially responsible company committed to offering value-added financial solutions to customers to fulfill their protection, savings, retirement and legacy planning needs. We also believe in giving back to society through our corporate social responsibility activities to make a positive impact on the community and our customers. This resonates with the Belt and Road Initiative to increasingly engage our socio-business influence here. *Source: Top 500 Most Valuable Chinese Brands 2018 by World Brand Lab 35 TH 42 ND 8 8 The Fortune Global 500 ranking was accorded to our strong ultimate parent company, China Life Insurance (Group) Company. The Forbes Global 2000 ranking and the credit ratings were accorded to China Life Insurance Company Limited, which is a core member of the China Life Insurance (Group) Company. China Life Insurance (Singapore) Pte. Ltd. (Reg No N) 1 Raffles Place #46-00 One Raffles Place Tower 1 Singapore Tel : Website :

3 Your savings goal, whether it s for your child s education, a property purchase or even a coveted exotic holiday with your loved ones, can come true. With China Life SaveForward Endowment Plan, you can choose when you want to receive a lump sum maturity payout with our wide range of policy terms - from 8 to 20 years - to suit your lifestyle or financial needs. You can also choose to pay premiums for as short as 5 years or up to 15 years. So, move closer to your savings goals with us today. Key Benefits: Rewarding Lump Sum Maturity Payout You can look forward to receiving a lump sum payout 1, which consists of a guaranteed amount and potential bonuses 2, when your plan matures. 100% Capital Guaranteed upon Maturity Be assured that you will get back all the premiums that you have paid upon maturity 3. Choice of Policy (8 to 20 years) and Premium Payment (5 to 15 years) Terms You can choose the policy and premium payment terms 4 that best fit your financial situation and goal: - Policy terms from 8 to 20 years - Premium payment terms from 5 to 15 years Affordable Yearly Premium You can start this plan with a minimum yearly premium of $3,000. No Medical Check-Up Needed No medical questionnaire or medical check-up is needed to sign up for our plan. Get Protected while You Save You will be covered against death 5 should the unforeseen happen during the policy term.

4 Example: Mr Sim, age 40, would like to take a long vacation with his loved ones and a sabbatical from work in 8 years time. To achieve his goals, he signs up for an 8-year China Life SaveForward endowment plan with a 5-year premium term and a yearly premium of $10,000: Guaranteed Maturity Payout: $53,025 Non-guaranteed Bonus: $7,724 * Total Illustrated Maturity Payout: $60,749 * Total Premiums Paid in 5 Years: $10,000 x 5 Years = $50,000 Illustrated Yield at Maturity: 3.28% p.a. * Age He stops paying premiums but continues to enjoy life cover till age 48. * Figures include non-guaranteed values. The non-guaranteed values are derived from the participating fund earning the illustrated investment rate of return of 4.75% p.a. in the future. Therefore, the actual amount payable may vary according to the future performance of the participating fund.

5 If the illustrated investment rate of return is 3.25% p.a.: Guaranteed Maturity Payout $53,025 Non-guaranteed Bonus Total Illustrated Maturity Payout Illustrated Yield at Maturity $3,374^ $56,399^ 2.02% p.a.^ ^ Figures include non-guaranteed values. The non-guaranteed values are derived from the participating fund earning the illustrated investment rate of return of 3.25% p.a. in the future. Therefore, the actual amount payable may vary according to the future performance of the participating fund. Find out more today: (Mon Fri, 9am 5.30pm) CustomerCare@chinalife.com.sg

6 Footnote: 1. Upon maturity, we will pay the sum of the sum insured, 100% of accumulated reversionary bonuses (if any) and a non-guaranteed terminal bonus (if any), less amounts owing to us (if any). 2. There are 2 types of bonuses reversionary and terminal. The bonuses are not guaranteed, and the actual amount payable may vary depending on the future performance of the participating fund. Reversionary bonuses may be declared and added to the policy starting from the end of the second policy year. Terminal bonus may be payable upon the death of the life insured, surrender or maturity (where applicable), whichever is the earliest. 3. The capital guarantee is derived based on yearly premium mode; and if all yearly premiums due on the policy have been paid before the end of the grace period. 4. The policy term must be at least 3 years longer than the selected premium payment term. 5. In the event of death of the life insured while the plan is in force, we will pay the sum of 108% of the total yearly premiums due to-date, 100% of accumulated reversionary bonuses (if any) and a non-guaranteed terminal bonus (if any), less amounts owing (if any), outstanding premium (if any) and future instalment premiums which are required to make up the full year s premiums (if any). Note: Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be zero or less than the total premiums paid. This advertisement is for general circulation and does not take into account the specific investment objectives, financial situation or particular needs of any specific person. You should seek advice from a financial adviser to determine if the product is suitable for you before deciding to purchase. This advertisement is not a contract of insurance. Please refer to the policy contract for the exact terms and conditions. This policy is protected under the Policy Owners Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits covered under the scheme and the limits of coverage, please contact us or visit the Life Insurance Association Singapore or SDIC websites ( or In case of discrepancy between the English and Chinese versions of this advertisement, the English version shall prevail. This advertisement has not been reviewed by the Monetary Authority of Singapore. Information is correct as at July 2018.