BOC Life Deferred Annuity (Fixed Term) (Apply via mobile banking)

Product Type : Life Insurance

Insurer : BOC Group Life Assurance Company Limited

From now until 30 September 2020, you can enjoy up to 6% first year premium discount upon successful application for this Plan!


  • Eligible for tax deduction1

  • 5 years’ premium payment for 100% guaranteed annuity income2 every month in 10 years

  • Annualized Guaranteed Internal Rate of Return upon policy maturity: 2.20% - 3.05%3

  • Monthly premium from HKD3,500 only

  • Multiple options of policy currency : HKD | RMB | USD

  • Apply via mobile, quick and easy


Please refer to the product leaflet and policy provisions for the details of the Plan.

Limited Offer

Promotion Period:  From now until 30 September 2020

You can enjoy up to 6% first year premium discount upon successful application for this Plan! 

Details  First Year Premium Discount %#
All policy application 3%

Basic Plan that achieves the First Year Premium requirement below

Annual: USD15,000 or
HKD/RMB100,000 or above

Monthly: USD1,250 or


Extra 3%
(i.e. 6% in total)

# The premium amount deducted from First Year Premium Discount will not be considered as premium paid and is not eligible for tax deduction.


Note: First year premium discount offer is subject to terms and conditions. Please refer to product leaflet for details.


Product Video (Chinese version only)

The Annualized Guaranteed Internal Rate of Return Upon Policy Maturity3

Policy Term 15 Years 20 Years
Premium Payment Mode Annual Payment Monthly Payment Annual Payment Monthly Payment
Policy Currency  USD 2.84% 2.42% 3.05% 2.80%
HKD 2.68% 2.25% 2.92% 2.68%
RMB 2.63% 2.20% 2.80% 2.54%

Note: The above annualized guaranteed internal rates of return upon policy maturity are rounded to 2 decimal places and are for illustrative purposes only. Please refer to the illustration summaries of the proposal during the application process for details. 


Basic Eligibility Requirement

Policy Term 15 Years 20 Years
Issue Age Age 45 to 64 Age 40 to 64
Premium Payment Period 5 Years
Annuity Income Commencement Age Age 50 to 69 Age 50 to 74
Annuity Income Period

10 years starting from the 1st Monthiversary after the 5th Policy Anniversary

10 years starting from the 1st Monthiversary after the 10th Policy Anniversary
Income Payout Option Cash out2
Policy Currency HKD / RMB / USD
Premium Payment Mode Annual /  Monthly
(Direct payment from BOCHK e-Banking account)

Note: The Plan is only available to the holders of BOCHK e-Banking (mobile banking) account for application in Hong Kong. Applicants must be holders of Hong Kong Permanent Identity Card and aged between 40 and 64.


Enrol Now

Login BOCHK Mobile Banking





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.



  1. Please note that the Qualifying Deferred Annuity Policy (“QDAP”) status of this product does not necessarily mean you are eligible for tax deduction available for QDAP premiums paid. This product’s QDAP status is based on the features of the product as well as certification by the IA and not the facts of your own situation. You must also meet all the eligibility requirements set out under the Inland Revenue Ordinance and any guidance issued by the Inland Revenue Department of HKSAR before you can claim these tax deductions. Any general tax information provided is for your reference only, and you should not make any tax-related decisions based on such information alone. You should always consult with a professional tax advisor if you have any doubts. Please note that the tax law, regulations or interpretations are subject to change and may affect related tax benefits including the eligibility criteria for tax deduction. BOC Life does not take any responsibility to inform you about any changes in the laws and regulations or interpretations, and how they may affect you. Further information on tax concessions applicable to QDAP may be found at the website of IA
  2. If you wish to accumulate the relevant annuity income in BOC Life, you may submit the relevant application to BOC Life after policy issuance. The accumulated Guaranteed Monthly Annuity Income and /or interest accrued thereon (if any) withdrawn under any circumstances will no longer be accumulated as part of the total cash value, surrender value and the total Death Benefit of the policy. For details, please refer to the benefit illustration summary of the policy and contact BOC Life for enquiry.

  3. The annualized guaranteed internal rate of return at policy maturity is calculated based on the Guaranteed Monthly Annuity Income payable and assuming that (i) you choose to cash out all the Guaranteed Monthly Annuity Income monthly on time when they are payable at each Monthiversary during the Annuity Income Period, (ii) levy and premium discount (if any) are not included, and (iii) all premiums are paid in full when due. If you cancel the policy before the end of the policy term, the actual annualized guaranteed internal rate of return will be lower than expected, and the sum of the surrender value and the Guaranteed Monthly Annuity Income withdrawn may be less than the total premiums you have paid. These percentages are rounded to 2 decimal places, and depend on your chosen policy term, policy currency and premium payment mode.


Important Notes:

  • BOC Life Deferred Annuity (Fixed Term) (“the Plan”) is underwritten by BOC Group Life Assurance Company Limited (“BOC Life”). It is not a bank deposit scheme or bank savings plan. Bank of China (Hong Kong) Limited ("BOCHK") is the major insurance agency appointed by BOC Life.
  • BOC Life is authorised and regulated by Insurance Authority to carry on long term business in the Hong Kong Special Administrative Region of the People’s Republic of China (“Hong Kong”).
  • BOCHK is granted an insurance agency licence under the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong) by Insurance Authority in Hong Kong. (insurance agency licence no. FA2855)
  • BOC Life reserves the right to decide at its sole discretion to accept or decline any application for the Plan according to the information provided by the proposed Insured and the applicant at the time of application.
  • The Plan is subject to the formal policy documents and provisions issued by BOC Life. Detailed terms and conditions are subject to the official policy document issued by BOC Life. Please refer to the relevant policy documents and provisions for details of the insured items and coverage, premium adjustment, termination conditions, inflation risk, provisions and exclusions.
  • BOCHK is the appointed insurance agency of BOC Life for distribution of life insurance products. The life insurance product is a product of BOC Life but not BOCHK.
  • 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 and the customer out of the selling process or processing of the related transaction, BOCHK 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.
  • BOC Life reserves the right to amend, suspend or terminate the Plan at any time and to amend the relevant terms and conditions. In case of dispute(s), the decision of BOC Life shall be final.
  • Customers are responsible for the data charges imposed by their service providers for using BOCHK Mobile App or Mobile Banking.


This promotion material is for reference on the key product features of this Plan and is intended to be distributed in Hong Kong only. You are advised to read in conjunction with the product leaflet of this Plan. Please refer to the product leaflet, policy documents and provisions issued by BOC Life for details (including but not limited to insured items and coverage, detailed terms, key risks, conditions, exclusions, important notes, policy costs and fees) of the Plan.