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| • Another Option |
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| Start Guaranteed Annuity Plan (the "Plan") |
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To enjoy a worry-free and quality retirement life, one has to plan ahead. In view of the low return on savings, fluctuating economic environment, high standard of living and unpredictable expenses, a flexible retirement plan reserve works best for you. |
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Start Guaranteed Annuity Plan offers guaranteed income and you may instantly withdraw the annuity income. The Plan allows you to achieve your retirement dream and enjoy a better life.
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| Enrolment Terms |
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| Entry Age |
From 15 days after Birth to 75 Years Old |
| Currency |
HKD or USD |
| Premium Payment Term |
2 years |
| Premium Payment Method |
Annual or Annual & Prepay Future Premium |
| Minimum Sum Assured |
HKD100,000 or USD12,500 |
| Insurance Period |
15 years |
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| Features of the Plan |
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| Short premium payment period |
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This Plan requires you to contribute only for 2 years with protection for 15 years. In addition, a discount will be offered if your premium payment is prepaid, which helps to maximize your return. |
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| Instant annuity |
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Smart offers instant annuity option, which is a new feature in the marketplace. You may withdraw the annuity income immediately after the cooling-off period. The annuity income thereafter will be paid out at the beginning of each anniversary. Upon maturity of the policy, you are guaranteed to receive the remaining policy value, in other words, you will be entitled to 16 times of guaranteed annuity income in total. |
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| Guaranteed Annuity Income |
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An annuity income will be payable on each year, the amount is equivalent to $7,770 per HK$100,000 sum assured. The annuity income, together with the policy value at maturity, equals up 126.27% of the sum assured. |
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| Fund Accumulated |
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You may withdraw or accumulate the annuity income in your policy account, to earn a maximum interest rate of 5.5% p.a. (non-guaranteed). If you choose to accumulate all annuity income in your policy account, the return is 191.46% of the sum assured (according to the number of policy years after the pre-payment of premium) |
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| Life Protection |
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The Plan provides death benefit equal to (i) 101% of the premium paid, less any annuity income, (ii) 10% of the sum assured or (iii) cash value, whichever is higher. The death benefit ensures that there will not be any loss of to the premium paid, in case of the death of the insured during the policy years. |
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| Example |
Age: from 15 days after birth to 75 years old
Sum Assured: HK$1,000,000
Annual Premium: HK$500,000 to be paid by 2 years |
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(HK Dollar) |
Annual Premium |
Beginning of
each policy year
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Accumulated premium |
Accumulated Annuity with interest* |
Guaranteed cash value |
Withdrawal value## |
1 |
500,000 |
77,700 |
0 |
77,700 |
2 |
1,000,000 |
159,674 |
206,140 |
365,814 |
3 |
1,000,000 |
246,156 |
512,610 |
758,766 |
4 |
1,000,000 |
337,394 |
602,650 |
940,044 |
5 |
1,000,000 |
433,651 |
585,160 |
1,018,811 |
6 |
1,000,000 |
535,202 |
559,440 |
1,094,642 |
10 |
1,000,000 |
1,000,415 |
391,608 |
1,392,023 |
15 |
1,000,000 |
1,741,153 |
74,832 |
1,815,985 |
Maturity |
1,000,000 |
183,692 |
77,700 |
1,914,617 |
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| Note: |
If you choose to pay by annual and prepay future premium, the premium is HK$984,543. Withdrawal value is inclusive of guaranteed cash value, accumulated annuity and interest. The existing interest rate of 5.5% p.a. is not guaranteed. China Life Insurance (Overseas) Company Limited reserves the right to revise the rate. Please refer to the customer insurance Policy Proposal for further details. |
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An annuity income is payable at the beginning of every policy year. |
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The above accumulated annuity and cash value is based on:
1. The annuity income and guaranteed cash value is deposited into the policy account
2. The existing interest rate of 5.5% p.a. is not guaranteed. |
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| Company Profile of China Life Insurance (Overseas) Company Limited |
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China Life Insurance (Overseas) Company Limited (abbreviated as "China Life Overseas Company") is the first and largest state-owned life insurance corporation that operates in Hong Kong and Macau and is also the only professional life insurance company with "China" as its brand name. China Life Overseas Company is a wholly-owned subsidiary of China Life Insurance (Group) Company. Being a large state-owned financial insurance corporation, China Life Insurance (Group) Company is the largest commercial insurance group in China. For 8 consecutive years, it is a Fortune Global 500 company and ranks 118 in 2010. It is also awarded "The World's 500 Most Influential Brands" and "Top 10 Most Valuable Chinese Brands", with brand value of RMB99.51 billion.
China Life Overseas Company has been operating in Hong Kong for 26 years. Since inception, we commit to our corporate spirit of being "Prudent, Trustworthy, Efficient and Innovative". Through continuous pursuit of prudent financial management and investment strategy, as well as a customer-first service philosophy, we established a strong foothold in Hong Kong and Macau. We grow our business progressively and diligently into new areas with an array of valuable products and services for the changing market. At present, our asset value is nearly HKD30 billion. Our business covers 3 main categories, including insurance, investment as well as provident fund service. They are all dedicated to serve different groups and individuals of the community.
China Life Overseas Company not only has the strong backing of state-owned capital, under due regulation of the federal and local government with strong and stable financial position for claims, it is also renowned for its reasonable premium, comprehensive coverage, sound reputation and prudent management, thus well-liked and trusted by customers.
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| Act Now! |
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You can simply call our Fubon
Insurance Hotline at 2566 8181 (Press 2 > 3
> 0) during office hours* or visit
any Fubon
Bank branch to enroll at your convenience!
* Monday to Friday: 9am - 7pm; Saturday: 9am - 1pm (except Public Holidays). |
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| Disclaimers: |
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The above information is for reference only. Please refer to the actual insurance contract of 'Start Guaranteed Annuity Plan' (the "Plan") for the terms and conditions applicable to the Plan. |
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The Plan is an insurance plan with a savings element. Part of the premium pays for the insurance and related costs. If you are not satisfied with the relevant policy, you have a right to cancel it within the cooling off period and obtain a refund of any premiums paid provided that you have not made any claim under the relevant policy. A written notice signed by you together with the relevant policy must be received by China Life Insurance (Overseas) Company Limited within the cooling off period (that is, 21 days after the delivery of the relevant policy or issue of a Notice to you or your representative, whichever is the earlier). After the expiration of the cooling off period, if you cancel the relevant policy before the end of the term of policy as set out in the relevant policy document, the projected total cash value payable (if any) may be less than the total premiums you have paid. |
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China Life Insurance (Overseas) Company Limited is the insurer of the Plan and is solely responsible for all features, policy approval, coverage and benefit payment under the Plan. |
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The registered address of China Life Insurance (Overseas) Company Limited is 22/F, CLI Building, 313 Hennessey Road, Wan Chai, Hong Kong. |
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The Plan is distributed by Fubon Bank. |
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In case of any discrepancy between the English and Chinese versions, the Chinese version shall prevail. |
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