20-year Term Life Refundable Plan / 30-year Term Life Refundable Plan Product
Product Type : Life Insurance
Insurer : China Life Insurance (Overseas) Company Limited
China Life Insurance (Overseas) Company Limited (“China Life (Overseas)”) specially presents “20-year Term Life Refundable Plan/30-year Term Life Refundable Plan” (the “Plan”) that provides all-round protection, by a minimum of 10 years of premium payment, you can enjoy 20 years or 30 years of coverage. You will receive up to 100% paid premium refund at policy maturity, less all indebtedness (if any) including all unpaid due premiums (if any). Moreover, a lump-sum death benefit will be provided to your loved ones to relieve immediate financial burdens through difficult times when misfortune happens.
Note: Please refer to the product leaflet for the details of the Plan (including the coverage, key risks, major exclusions, etc.).
| Basic Eligibility Requirements | ||
|---|---|---|
| Plan Name | 20-year Term Life Refundable Plan | 30-year Term Life Refundable Plan |
| Issue Age | 15 days after birth to 65 years old | 15 days after birth to 55 years old |
| Premium Payment Term | 10 years /15 years | 10 years /15 years /20 years |
| Benefit term | 20 years | 30 years |
| Policy Currency | HKD | |
| Minimum Basic Amount | HK$600,000 | |
| Premium Payment Method | Annual /Monthly / Annual & Prepayment of Premium* | |
* Prepayment is only applicable to Premium Payment Term of 10 years and premium payable made in annual mode.
Before application, please read and understand the related Product Information, Policy Terms and all other relevant document and information carefully.
Important Notes:
- The Plan is underwritten by China Life (Overseas). China Life (Overseas) is responsible for the features, underwriting and benefit payments under the Policy. You should fully understand all of the risks involved in this product and consider whether this product is affordable and suitable to you before making your application.
- Bank of China (Hong Kong) Limited ("BOCHK") is an appointed insurance agency of China Life (Overseas) for distribution of life insurance products. The life insurance product is a product of China Life (Overseas) 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 directly between China Life (Overseas) and the customer.
- China Life (Overseas) is authorized and regulated by Insurance Authority to carry on long term insurance business in the Hong Kong Special Administrative Region of the People's Republic of China. BOCHK is granted insurance agency licence under the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong) by Insurance Authority (insurance agency licence no. of BOCHK is FA2855).
- China Life (Overseas) reserves the right to decide at its sole discretion whether to accept or decline any application for the Plan according to the information provided by the proposed Insured and/or the applicant at the time of application.
- The Plan is subject to the formal policy documents and provisions issued by China Life (Overseas). Please refer to the relevant policy documents and provisions for details of the insured items and coverage, provisions and exclusions.
- China Life (Overseas) reserves the right to revise, suspend or terminate the above Plan, or alter the relevant terms and conditions at any time without prior notice. In case of disputes, the decision of China Life (Overseas) shall be final.
- This product brochure is for reference only and is intended to be distributed in Hong Kong only and shall not be construed as an offer to sell or a solicitation of an offer or recommendation to buy or sale or provision of any insurance plans underwritten by China Life (Overseas) outside Hong Kong. Please refer to the Insurance Policy issued by China Life (Overseas) for the definitions of the capitalized terms, key exclusions & limitations, as well as all the terms and conditions of this product. Please refer to the Policy Document for the details. You are reminded to review all of the relevant product materials provided to you and to seek independent professional advice if necessary.
