Enjoy a worry-free life with life-long protection

Transcription

1 Life Insurance BOC Group Life Assurance Company Limited Hundred Life Insurance Plan / Hundred Life Critical Illness Insurance Plan Enjoy a worry-free life with life-long protection

2 To prepare for a better future, you always need to have the best protection for yourself and your beloved ones. BOC Group Life Assurance Company Limited ( BOC Life ) presents you the Hundred Life Insurance Plan ( the Plan ). The Plan provides you with life protection coverage till the age of 100, bringing you and your beloved ones a worry-free future. You are provided with 3 choices of policy currencies, including Hong Kong Dollar, United States Dollar and Renminbi, to match your needs. Comprehensive Life Protection till Aged 100 The Plan provides life protection coverage till the Insured reaches the age of 100. In the event of the Insured s death 2 during the period the policy is in force, the beneficiary can receive the death benefit equivalent to the Sum Insured at the time of making a claim, plus additional death benefit 1 (if applicable), plus any terminal dividend 3,4, plus any accumulated dividend and its interest 4 (if any), less all indebtedness (if any, included but not limited to any policy loan 5 amount Policy Owner has made and its interest (if any)) under the policy. Regular Premium and Various Premium Payment Periods 6 Once the premium is determined, it will not be changed over the term of your payment period 7, allowing you to have better financial planning. What s more, the Plan offers you various premium payment periods to give you more flexibility to plan for your future. You can select 5 years, 10 years or 20 years of fixed premium payment period. There are also options for premium payment period up to the age of 60 or 100. Terminal Dividend 3,4 Terminal dividend 3,4, if any, may be payable on or after the tenth policy anniversary upon surrender of the policy 8 or the death of the Insured 2 or payment of the major illness benefit 11 (applicable to the Critical Illness Plan only) or policy maturity. Terminal dividend 3,4, which could be changed from time to time, is not guaranteed. Annual Dividend 4 Annual dividend 4, if any, may be payable during the period the policy is in force. You can select to withdraw any annual dividend 4 or to accumulate it into your policy for interest accumulation. Annual dividend 4 and the interest rate of dividend accumulation, which could be changed from time to time, are not guaranteed. Additional Death Benefit 1 In the event of the Insured s death at the age of 4 or above and under the age of 61 during the period the policy is in force, the Plan will pay an additional death benefit 1 which is equal to 20% of the Sum Insured at the time of making a claim. Supplementary Riders 9 for Comprehensive Planning To ensure further protection to you and your family, you may choose various types of rider to meet your needs. For details of each supplementary rider, you are welcome to enquire at any branch of the major insurance agent banks. 24-Hour Worldwide Emergency Assistance Services 10 An easy access to 24-hour Worldwide Emergency Assistance Services, covering emergency medical assistance and referral services, and other assistance services, enables you enjoying round-the-clock protection. Hundred Life Critical Illness Insurance Plan (applicable to HKD and USD policies only) Hundred Life Critical Illness Insurance Plan ( the Critical Illness Plan ) may provide you with adequate cash flow to prepare for the extra medical expense in case of critical illness. 2 Features of the Critical Illness Plan: Major illness benefit 11 coverage till the insured reaches the age of 100. Minor illness benefit 12 coverage till the Insured reaches the age of 75. Coverage of 6 types of critical illness including 40 major illnesses and designated minor illnesses. In the event the insured is diagnosed with a covered major illness, you can receive a lump sum of major illness benefit 11 which equals to 100% of the Sum Insured at the time of making a claim plus additional major illness benefit 13 (if applicable) which equals to 20% of the Sum Insured at the time of making a claim; plus any terminal dividend 3,4 ; plus any accumulated dividend and its interest 4 (if any), less all indebtedness (if any, included but not limited to any policy loan 5 amount Policy Owner has made and its interest (if any)) under the policy. In the event the Insured is diagnosed with a covered minor illness, the Critical Illness Plan will advance the minor illness benefit 12 amount which equals to 20% of the Sum Insured. Second Medical Opinion Services 14 is provided to you for professional advice.

3 6 Types of Critical Illness 1: Cancer 1.1 Cancer 2: Heart Related Illnesses 2.1 Cardiomyopathy 2.2 Coronary Artery Disease Surgery 2.3 Heart Attack 2.4 Heart Valve Surgery 2.5 Primary Pulmonary Arterial Hypertension 2.6 Surgery to Aorta 3: Nervous System Related Illnesses 3.1 Alzheimer s Disease 3.2 Apallic Syndrome 3.3 Bacterial Meningitis 3.4 Benign Brain Tumour 3.5 Coma 3.6 Encephalitis 3.7 Major Head Trauma 3.8 Motor Neurone Disease 3.9 Multiple Sclerosis 3.10 Muscular Dystrophy 3.11 Necrotising Fasciitis 3.12 Paralysis 3.13 Parkinson s Disease 3.14 Poliomyelitis 3.15 Stroke 4: Major Organs Related Illnesses 4.1 Chronic Liver Disease 4.2 End Stage Lung Disease 4.3 Fulminant Hepatitis 4.4 Kidney Failure 4.5 Major Organ Transplantation 4.6 Medullary Cystic Disease 5: Disability Related Illnesses 5.1 Blindness 5.2 Loss of Hearing 5.3 Loss of Independent Existence 5.4 Loss of Limbs 5.5 Loss of Speech 5.6 Total and Permanent Disability 6: Other Major Illnesses 6.1 Aplastic Anaemia 6.2 HIV due to Blood Transfusion 6.3 Major Burns 6.4 Occupationally Acquired HIV 6.5 Severe Rheumatoid Arthritis 6.6 Terminal Illness Minor Illnesses Minor Interventions for Coronary Artery Disease Carcinoma-in-situ (of Breast, Cervix Uteri, Uterus, Fallopian Tube, Vagina and Testes) Early Stage Cancer (Ovary and Prostate) 3

4 Basic Eligibility Requirements of the Plan Policy Currency HKD / USD RMB Issue Age Aged 0 (15 days after birth) to aged 70 Aged 0 (15 days after birth) to aged 55 Aged 18 aged 70 Premium Payment Period 6 5 Years 10 Years / 20 Years / to aged 100 To aged Years Minimum Sum Insured HKD120,000 / USD15,000 HKD160,000 / USD20,000 RMB500,000 Coverage Period Till aged 100 Premium Payment Mode and Minimum Premium Monthly Quarterly Semi-annual Annual Annual HKD160 / USD20 HKD480 / USD60 HKD960 / USD120 HKD1,920 / USD240 Not applicable Basic Eligibility Requirements of the Critical Illness Plan (Not applicable to RMB policy) Policy Currency HKD / USD Issue Age Aged 18 to aged 60 Aged 18 to aged 55 Premium Payment Period 6 5 Years 10 Years / 20 Years / to aged 100 To aged 60 Minimum Sum Insured HKD120,000 / USD15,000 HKD160,000 / USD20,000 Coverage Period Till aged 100 Premium Payment Monthly Quarterly Semi-annual Annual Mode and Minimum Premium HKD160 / USD20 HKD480 / USD60 HKD960 / USD120 HKD1,920 / USD240 Grasp this opportunity. Act Now! For enquiry, please visit any branch of the following major insurance agent banks. Bank of China (Hong Kong) Limited (852) Chiyu Banking Corporation Limited (852)

5 Notes: The Policy Owner is subject to the credit risk of BOC Life. If the Policy Owner discontinues and / or surrenders the insurance plan in the early policy years, the amount of the benefit he / she will get back may be considerably less than the amount of the premium he / she has paid. Past, current, projected and / or potential benefits and / or returns (e.g. bonuses, dividends, interests) presented herein are not guaranteed and are for illustrative purposes only. The actual future amounts of benefits and / or returns may be lower than or higher than the currently quoted benefits and / or returns. Investment Strategy, Philosophy in Deciding Dividends and Fulfillment Ratio of Dividends: Under normal circumstances, the assets supporting the policies under the Plan mainly consist of the following: Fixed income instrument or interest-bearing securities 70%-90% Growth asset (including but not limited to equity investment, mutual funds, properties investment, etc) Mix 10%-30% With the aim of achieving our long term investment target, BOC Life, at our sole discretion, reserves the right to adjust the aforementioned asset allocation when there are material changes in market outlook and condition, or engage in other financial arrangements including but not limited to reinsurance arrangement. When appropriate, BOC Life may use derivatives to manage our risk exposure such as currency risk. Philosophy in Deciding Dividends: Participating insurance plans provide Policy Owners an opportunity to receive a share of profits attributable to the participating life insurance business of BOC Life by means of dividends, with the potential prospect of long-term rates of return. To accomplish the purpose, we invest in a wide range of asset portfolios that are prudently chosen by BOC Life to balance the risk. In general, the asset portfolios mainly consist of fixed income securities and equity investments. The actual amount of dividends is determined by the stipulated surplus sharing approach in BOC Life s policy, which is based on the past experience of BOC Life and the long-term expectation of the participating life insurance business in the future. Dividends amount mainly depends on the overall performance of the participating life insurance business of BOC Life, taking into account factors including investment returns, claim experience, persistency and operating expense. The actual amount of dividends payable is recommended by our Appointed Actuary according to the aforementioned company s policy and approved by the Board of Directors of BOC Life. Annual dividends paid can be left with BOC Life and accumulate with interest. The interest rate (Dividends Accumulation Rate) is determined based on market conditions and expected investment return of BOC Life. In light of the above factors, dividends and Dividend Accumulation Rate are not guaranteed and may be higher or lower than the values illustrated in the benefit illustration provided at point of sale. You may browse the following website, to understand BOC Life s philosophy in deciding dividends as well as dividend history for reference purposes. Please note that past performance of dividend is not an indicator for its future performance. Risk Disclosure of RMB and USD Insurance: RMB and USD policies are subject to exchange rate risk. The exchange rate between RMB and HKD or USD and HKD may rise as well as fall. Therefore, if calculated in HKD, premiums, fees and charges (where applicable), account value / surrender value and other benefits payable under RMB or USD policy will vary with the exchange rate. The exchange rate between RMB and HKD or USD and HKD will be the market-based prevailing exchange rate determined by BOC Life from time to time, which may not be the same as the spot rate of banks. The fluctuation in exchange rate may result in losses if a customer chooses to pay premiums in HKD, or requests the insurer to pay the account value / surrender value or other benefits payable in HKD, for RMB or USD policy. RMB Conversion Limitation Risk RMB Insurance are subject to exchange rate fluctuations which may provide both opportunities and risks. The fluctuation in the exchange rate of RMB may result in losses in the event that the customer converts RMB into HKD or other foreign currencies. (Only applicable to Individual Customers) RMB is currently not fully freely convertible. Individual customers can be offered CNH rate to conduct conversion of RMB through bank accounts and may occasionally not be able to do so fully or immediately, for which it is subject to the RMB position of the banks and their commercial decisions at that moment. Customers should consider and understand the possible impact on their liquidity of RMB funds in advance. (Only applicable to Corporate Customers) RMB is currently not fully freely convertible. Corporate customers that intend to conduct conversion of RMB through banks may occasionally not be able to do so fully or immediately, for which it is subject to the RMB position of the banks and their commercial decisions at that moment. Customers should consider and understand the possible impact on their liquidity of RMB funds in advance. Other Key Risks: Exclusions to the Critical Illness Plan are as follows: (a) Neither Minor Illness Benefit nor Major Illness Benefit is payable under this Policy for any Minor Illness or Major Illness resulting (directly or indirectly) from, or related to, or caused by or contributed by (in whole or in part), any of the following: (i) Any Pre-existing Condition; (ii) Congenital deformities or anomalies, infertility, sterilization; (iii) Drug-taking other than under the direction of a Physician, abuse of alcohol or the taking of poison; (iv) Disease of or infection with any Human Immunodeficiency Virus (HIV) and / or any HIV-related illness including AIDS and / or any mutations, derivations or variations thereof, except HIV due to Blood Transfusion or Occupationally Acquired HIV as defined under Clause 1 of Payment of Benefit Provisions; (v) Nuclear fission, nuclear fusion, ionizing radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuels or nuclear weapons material; (vi) War or hostilities (whether war be declared or not), civil commotion, rebellion, revolution, riot, strikes, terrorist or warlike activities; (vii) Participation in any armed force or peace keeping activities; (viii) An act of any person acting on their own or on behalf of or in connection with any group or organisation to influence by force any group, corporation or government by terrorism, kidnapping or attempted kidnapping, attack, assault, or any other violent means; (ix) An intentional self-inflicted act; (x) Violation or attempted violation of the law or resistance to arrest or participation in any brawl or affray; or (xi) Professional sports, racing of any kind, underwater activities involving the use of breathing apparatus, aerial flights (including bungee-jumping, hang-gliding, ballooning, parachuting and sky-diving) other than as a crew member or as a fare-paying passenger on a licensed carrying commercial aircraft operating in a regular scheduled route or any hazardous activities or sports unless agreed by special endorsement. (b) Neither Major Illness Benefit nor Minor Illness Benefit is payable under this Policy for any Major Illness or Minor Illness, the symptoms or conditions of which or the diagnosis of which first appeared or occurred within ninety (90) days immediately following the Policy Issue Date or the date of endorsement or the effective date of last reinstatement, whichever is later. This clause 6(b) shall not apply for any Major Illness or Minor Illness directly caused by an accident. For the purpose of this clause 6(b), accident means an unforeseen and unexpected event of violent, accidental, external and visible nature which occurs while this Policy is in force and which shall independently of any other cause be the sole and direct cause of bodily injury. The premium payable of the Plan and / or the Rider (if any) at the time of application and renewal is calculated based on the following factors (if applicable), including but not limited to the Sum Insured, gender, issue age, attained age, smoking habit, premium payment term, level of benefits, underwriting class, risk class and residency, and is not guaranteed. BOC Life reserves the right to review and adjust the premium payable at any time. Factors leading to such adjustment include but not limited to emergence of difference between actual experience and current expectation. (Applicable to the Critical Illness Plan only) The Policy Owner should pay premium on time during the premium payment term. It may result in lapse or termination of the policy if the required amount (such as premium) is not made before expiry of the grace period (if applicable) as prescribed by BOC Life. Nevertheless, it is subject to the automatic premium loan (if applicable) (BOC Life will advance the premium due from the non-forfeiture value as an automatic premium loan) and non-forfeiture provisions (if applicable). If the policy is terminated or lapsed due to non-payment of premium, the surrender value received by the Policy Owner may be less than the total premiums paid and the Policy Owner will lose the insurance protection provided by the policy. BOC Life may terminate the policy before the maturity date if any one of the following events occurs: (i) the death of the Insured; or (ii) BOC Life approves the Policy Owner s written request for surrender; or (iii) the policy lapses after the end of the grace period; or (iv) the non-forfeiture value is less than zero (if applicable); or (v) the aggregate amount paid or payable by BOC Life has reached the maximum benefit amount of all coverage of the policy (if applicable). The actual rate of inflation may be higher than expected, therefore the amount you receive may be less in real terms. 5

6 6 Remarks: The following terms and conditions are applicable to the Plan and the Critical Illness Plan: 1. Additional death benefit is applicable to the Insured who dies at the age of 4 or above and under the age of If the Insured passes away at the age before 180 days, the benefit amount payable in respect of the Death Benefit shall be paid as set out in the following table less indebtedness (if any) and outstanding premiums (if any): (Applicable to the Plan only) Age at Death Benefit Amount Below 180 days 20% of the Sum Insured or total premiums paid (whichever is higher) 180 days or above 100% of the Sum Insured 3. Terminal dividend 4, if any, may be payable on or after the tenth policy anniversary upon surrender 8 of the policy or the death of the Insured or the payment of the major illness benefit 2,11 (applicable to the Critical Illness Plan only) or the policy maturity. 4. The Plan and the Critical Illness Plan are participating policies. Nevertheless, annual dividends, terminal dividend 3 and interest rate of dividend accumulation, which could be changed from time to time, are neither guaranteed nor estimated values for future years. The actual amount received may be higher or lower than the estimated amount. Policy Owner may choose to withdraw any annual dividend and / or interest accumulated throughout the policy term. The annual dividend and / or interest amount withdrawn will no longer be accumulated as part of policy value and death benefit. BOC Life reserves the right to change them from time to time. 5. Whilst the policy is in force, Policy Owner can apply a policy loan against the cash value of the policy subject to policy loan provision. Policy loan amount and their interest (if any) will be deducted from the policy value upon policy termination. For details, please refer to policy provisions issued by BOC Life. 6. Eligible premium payment period varies by issue age and policy currency. Policy Owner should continue to pay the premium of the Plan throughout the premium payment period. Otherwise, policy will be terminated after the end of grace period subject to automatic premium loan or non-forfeiture provisions. For details, please refer to policy provisions issued by BOC Life. 7. The fixed premium is only applicable to the Plan. The premium rate for the Critical Illness Plan is not guaranteed and BOC Life reserves the right to change it during the payment period. 8. Upon early surrender of the policy, the policy cash value payable may be less than the premium paid. 9. Supplementary riders are subject to corresponding issue age of the Insured. Premiums of such may be changed from time to time. For details, please contact the branch staff of the major insurance agent banks. 10. The relevant services are provided by Inter Partner Assistance Hong Kong Limited in accordance with the Conditions for Services pursuant to Life Insurance Supplementary Emergency Assistance Services and Benefits. These services are not guaranteed for renewal and BOC Life reserves the right to withhold or amend the said services at its sole discretion. The following terms and conditions apply to the Critical Illness Plan only: 11. The policy will be terminated upon approval of a claim for major illness benefit. The policy will only pay either death benefit or major illness benefit. 12. Minor illness benefit will be paid once only and applicable to those Insureds who are under the age of 76 when diagnosed with covered minor illness. The minor illness benefit is equal to 20% of the Sum Insured subject to the maximum amount of HKD160,000 or USD20,000 (which is subject to deduction of all benefit amounts in respect of any covered minor illness paid or payable under any policies issued by BOC Life on the life of the Insured), less all indebtedness (if any, included but not limited to any policy loan 5 amount Policy Owner has made and its interest (if any)) under the policy. Upon the payment of the minor illness benefit, the Sum Insured of the policy will be reduced by the claims amount. Death benefit, additional death benefit 1, major illness benefit 11, additional major illness benefit 13, guaranteed cash value and the premium payable thereafter will be adjusted according to the decrease in the Sum Insured. 13. Additional major illness benefit is applicable to those Insureds who are under the age of 61 when diagnosed with the covered major illness. 14. The relevant services are provided by Inter Partner Assistance Hong Kong Limited in accordance with the Conditions for Services pursuant to Second Medical Opinion Services Endorsement. These services are not guaranteed for renewal and BOC Life reserves the right to withhold or amend the said services at its sole discretion. Important Notes: The Plan, the Critical Illness Plan and the supplementary rider(s) (if any) are underwritten by BOC Life. Bank of China (Hong Kong) Limited ( BOCHK ) and Chiyu Banking Corporation Limited are the major insurance agent banks appointed by BOC Life. BOC Life is authorised and regulated by Office of the Commissioner of Insurance to carry on long term business in the Hong Kong Special Administrative Region of the People s Republic of China. BOC Life reserves the right to decide at its sole discretion to accept or decline any application for the Plan, the Critical Illness Plan and the supplementary rider(s) (if any) according to the information provided by the proposed Insured and the applicant at the time of application. The Plan, the Critical Illness Plan and the supplementary rider(s) (if any) are subject to the formal policy documents and provisions issued by BOC Life. Please refer to the relevant policy documents and provisions for details of the insured items and coverage, provisions and exclusions. BOCHK and Chiyu Banking Corporation Limited are the appointed agents of BOC Life for distribution of life insurance products. The life insurance product is a product of BOC Life but not BOCHK and Chiyu Banking Corporation Limited. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between BOCHK or Chiyu Banking Corporation Limited and the customer out of the selling process or processing of the related transaction, BOCHK or Chiyu Banking Corporation Limited is required to enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over the contractual terms of the insurance product should be resolved between directly BOC Life and the customer. Should there be any discrepancy between the Chinese and English versions of this promotion material, the English version shall prevail. This promotion material is for reference only and is intended to be distributed in Hong Kong only. It shall not be construed as an offer to sell or a solicitation of an offer or recommendation to purchase or sale or provision of any products of BOC Life outside Hong Kong. Please refer to the policy documents and provisions issued by BOC Life for details (including detailed terms, conditions, exclusions, policy costs and fees) of the Plan, the Critical Illness Plan and the supplementary rider(s) (if any). For enquiry, please contact the branch staff of the major insurance agent banks. This promotion material is published by BOC Life. Printed in December 2016 HL/L/V18/1216