Service introduction

Your policy value goes beyond future protection – it also supports retirement living needs. Through this service, the policy values of designated individual insurance products can be paid directly to the eligible senior care service communities / organizations, reducing fund transfers and administrative procedures. This streamlined arrangement provides greater peace of mind for your family and you, while ensuring focus can remain on a quality retirement lifestyle.

Eligible senior care service communities / organizations

國壽 ● 悠享家健康護老中心。
國壽 ● 康欣社區頤康之家
國壽 ● 福保社區頤康之家

More senior care service communities / organizations will be added for selection, and will be updated here from time to time.

Diversified options．Thoughtful arrangements for your loved ones

A well-planned protection, comprehensive care
You can choose to arrange this service for yourself, the insured, or the most important elders and relatives in your life – including your spouse, grandparents, parents, siblings, and even your spouse’s parents. Each policy may designate one resident, with the policy values directly paying to our eligible senior care service communities / organizations for the service fees. This seamless connection between financial planning and caregiving reflects thorough, attentive, and well-considered arrangements.
Multiple policies · Boundless care · Peace of Mind
When you hold multiple eligible policies, you can extend protection to several loved elders or relatives without compromise. No longer a choice between responsibility and resources; instead, every policy becomes an opportunity to provide thoughtful arrangements and lasting care. For example, with three eligible policies, you can arrange the “Direct Pay Senior Care Service” separately for your father, mother and in-law. Each policy serves as a dedicated promise of care, ensuring that every loved one receives attentive, dependable support tailored to their needs.
Flexibility in payment, match your lifestyle
You can choose regular payments to manage service expenses with consistency and ease, or select a one-time payment to take care of special or occasional costs. Either way, your financial planning can be foreseen and under control with ease.
Flexible arrangements for every stage of life, caring never stops
If the elderly resident moves to another eligible senior care service community / organization, you may end the original payment arrangement and submit new application of “Direct Pay Senior Care Service” for new payment arrangement. This ensures the care always fits evolving needs, with support that continues without interruption.

Eligible customers

Policyholders, Insured, or beloved elders and relatives of policyholders who
have signed the service contract with one of the eligible senior care service communities / organizations and already moved into it; and
“Direct Pay Senior Care Service”
（Regular payment）
Policyholders with individual policy^ of designated individual insurance products, which is an in-force policy with cash values exceeding HKD 50,000 or equivalent.		 “Direct Pay Senior Care Service”
（One-time payment）
Policyholders with individual policy^ of designated individual insurance products, which is an in-force policy with policy value available for cash value withdrawal, surrender, or policy maturity benefit withdrawal.

^Not applicable to Investment-Linked Assurance Schemes (ILAS) & Universal Life Insurance Plans (UL).

Direct pay mode and application requirements

A. Regular payment for senior care service

  • 1.Policyholder with individual policy of designated individual insurance products#, which is an in-force policy with cash values exceeding HKD 50,000 or equivalent at the time when applied for “Direct Pay Senior Care Service” ; and
  • 2.Provide a copy of the signed service contract with the senior care service community / organization; and
  • 3.The true copy of the signed “Authorization Letter for Payment of Senior Care Service Fees”；and
  • 4.The true copy of the signed “Direct Pay Senior Care Service Application Form”

B. One-time payment for senior care service

  • 1.Policyholders with individual policy of designated individual insurance product, which is an in-force policy with policy value available for cash value withdrawal, surrender, or withdrawal the policy maturity benefit；and
  • 2.Provide a copy of the signed service contract with the senior care service community / organization; and
  • 3.The true copy of the signed “Authorization Letter for Payment of Senior Care Service Fees”；and
  • 4.The true copy of the signed “Direct Pay Senior Care Service Application Form”; and
  • 5.A copy of the Invoice（Payment Notice）issued by the senior care service community / organization（required if the direct payment amount is RMB 400,000 or above）

＃List of products eligible for “Regular payment for senior care service”

#Product CodeProduct Name
1C500Forest Insurance Plan (USD) (2)Hot-selling!
2C501Forest Insurance Plan (USD) (2)Hot-selling!
3C502Forest Insurance Plan (USD) (5)Hot-selling!
4C503Forest Insurance Plan (HKD) (5) Hot-selling!
5C464Pleasure Life Savings Insurance Plan (USD)
6C465Pleasure Life Savings Insurance Plan (HKD)
7C504EverTogether Savings Plan (USD)
8C505EverTogether Savings Plan (HKD)
9C506Regal Elite Wealth Planner(USD) (2)
10C507Regal Elite Wealth Planner(HKD) (2)

The list of the eligible products will be updated here from time to time.

Retirement in Mainland China and customer journey on “Direct Pay Senior Care Service”

Just three simple steps to enjoy a worry-free retirement through “Direct Pay Senior Care Service”!

Reference case

Mr. Chan, aged 51, is the policyholder. His mother, Ms. Lee, aged 74, is the resident at the senior care service community / organization. Below are two scenarios that illustrate the “Direct Pay Senior Care Service” – one with regular payment and one with one-time payment.

Scenario 1: “Direct Pay Senior Care Service” (Regular payment)

Mr. Chan applies for our service “Direct Pay Senior Care Service” (regular payment), so that starting from the third month of Ms. Lee’s stay, RMB 10,000 in policy values of his policy is automatically withdrawn each month and paid directly to the designated senior care service community / organization as the monthly service fees.

(1) Initial admission fees (must be paid on the same day when signs service contract with the senior care service community / organization )： (RMB)
Deposit & medical reserve 15,000
Standard senior care service fee (minimum 1 month) 10,000/month
Initial bedding fee 1,000
Miscellaneous fees (utilities, air-conditioning, internet, recreational activities, etc.) Waived
(2) Monthly fees： (RMB)
Standard senior care service fee (minimum 1 month) 9,000/month
Personalized service fees 1,000/month
Age #Stayed month Charged fees Policy values withdrawn Remarks
741¥26,000-Mr. Chan paid for his mother Ms. Lee (Initial month)
742¥10,000-Mr. Chan paid for his mother Ms. Lee (2nd month)
743¥10,000¥10,000Withdrawn policy values from Mr. Chan’s designated policy through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (3rd month)
744¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (4th month)
745¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (5th month)
746¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (6th month)
747¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (7th month)
748¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (8th month)
749¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (9th month)
Scenario 2: “Direct Pay Senior Care Service” (One-time payment)

In the 10th month of Ms. Lee’s stay, she required medical services provided by the senior care service community / organization. As a result, the monthly service fees increased by an additional amount of RMB 50,000. To cover the extra fees, Mr. Chan applied for “Direct Pay Senior Care Service” (one-time payment), withdrawn RMB 50,000 in policy values from his designated policy to directly pay the senior care service community / organization for the month’s extra medical expenses.

(1) Initial admission fees (must be paid on the same day when signs service contract with the senior care service community / organization ): (RMB)
Deposit & medical reserve 15,000
Standard senior care service fee (minimum 1 month) 10,000/month
Initial bedding fee 1,000
Miscellaneous fees (utilities, air-conditioning, internet, recreational activities, etc.) Waived
(2) Monthly fees： (RMB)
Standard senior care service fee (minimum 1 month) 9,000/month
Personalized service fees 1,000/month
Extra medical expenses 50,000
Age #Stayed month Charged fees Policy values withdrawn Remarks
741¥26,000-Mr. Chan paid for his mother Ms. Lee (Initial month)
742¥10,000-Mr. Chan paid for his mother Ms. Lee (2nd month)
743¥10,000¥10,000Withdrawn policy values from Mr. Chan’s designated policy through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (3rd month)
744¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (4th month)
745¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (5th month)
746¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (6th month)
747¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (7th month)
748¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (8th month)
749¥10,000¥10,000Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (9th month)
74 10 60,000 ¥10,000 Through the “Direct Pay Senior Care Service“ (regular payment) to pay for Ms. Lee’s monthly fees (10th month) +
¥50,000 Withdrawn policy values from Mr. Chan’s same designated policy through the “Direct Pay Senior Care Service“ (one-time payment) to pay for Ms. Lee’s extra medical fees

Exchange rates for “Direct Pay Senior Care Service”

Click here for the exchange rates applicable for “Direct Pay Senior Care Service”.
Terms and Disclaimers

1.The “Direct Pay Senior Care Service” applies when the policyholder authorizes China Life Insurance (Overseas) Company Limited (incorporated in the People’s Republic of China) (“the Company”) to use the policy values of a designated individual policy to pay for the senior care services of designed resident (limited to one person; may be the policyholder, the insured, or an elder / relative designated by the policyholder) at the Company’s eligible senior care service communities / organizations. By completing the relevant application forms, the policyholder irrevocably agrees and authorizes the Company to: (a) provide the necessary information in the application forms to the relevant senior care service communities / organizations; and (b) withdraw policy values from the designated policy as instructed in the application forms, and directly pay the senior care service community / organization for the services under the senior care service contract.

2.Applications for the “Direct Pay Senior Care Service” must comply with all applicable local and domestic laws, regulations, supervisory requirements, policy terms, admission terms of the senior care service community / organization, and administrative requirements set by the Company from time to time. The Company reserves the right to request additional information or documents for review and compliance purposes.

3.The Company will periodically review market conditions and may add, remove, or adjust the designated individual insurance products for regular withdrawals under the “Direct Pay Senior Care Service” (Regular payment), in line with market trends and company strategies. Customers can refer to the Company’s official website for the release of the latest list. The eligible insurance products listed above are the eligible insurance products currently available and are provided for reference only.

4.The Company will periodically review market conditions and may add, remove, or adjust the designated senior care service communities / organizations under the “Direct Pay Senior Care Service”, in line with market trends and company strategies. Customers can refer to the Company’s official website for the release of the latest list.

5.When applying for the “Direct Pay Senior Care Service” and proceeding to policy value withdrawal, the policy must not involve any of the following: policy with effective outstanding and unpaid policy loans or automatic policy loans; with effective ongoing or pending regular policy value withdrawals; or with pending surrender or policy maturity application; or with policy assignement.

6.Any withdrawal of policy values will reduce the subsequent protection / benefits of the policy. Withdrawn policy values cannot be reinstated into the policy.

7.If the withdrawn policy values are ultimately not used to pay for the senior care services, the Company will refund the amount to the policyholder. Relevant bank charges (if applicable) or foreign exchange losses (if applicable) will be borne by the policyholder and deducted from the refund.

8.The Company reserves the right to amend the terms and conditions of the “Direct Pay Senior Care Service”, or suspend or cancel all or part of the service at any time without prior notice. In case of dispute, the Company’s decision shall be final.

9.Except for the Company and the policyholder, no other person or entity shall have the right to enforce any provision of these terms under the Contracts (Rights of Third Parties) Ordinance, nor enjoy any benefit under these terms.

10.Senior care services are provided by third-party suppliers. The Company is not the provider or operator of such services, and therefore does not make any express or implied warranties, nor assume responsibility for any consequences arising from such services. All services are subject to the terms and conditions outlined by the suppliers.

11.The Company cannot guarantee the availability of services from senior care service communities / organizations. Service availability depends on the conditions determined by the suppliers. Any disputes regarding services must be resolved directly between the customer and the supplier.

12.This website and its content do not constitute an offer to sell or solicit the purchase of services from any senior care service community / organization. The Company is not an agent or distributor of such services and does not collect any fees or payments from the senior care service community / organization and/or customers for the use of such services. If customers ultimately use the services, they will enter into a contract directly with the supplier and pay service fees according to the agreed payment method.

13.By applying for the “Direct Pay Senior Care Service”, you acknowledge that you have read and accepted our Personal Information Collection Statement, which is available for download on the Company’s official website www.chinalife.com.hk or upon request.

14.This webpage is for reference only and is published solely in Hong Kong. It should not be interpreted as offering, selling, or soliciting the purchase of any products of the Company outside Hong Kong.

15.In the event of any ambiguity or inconsistency between the English and Chinese versions of these terms and disclaimers, the Chinese (Traditional) version shall prevail.

Disclaimer

This link will redirect to a third-party website. The content, services, and security thereof are solely the responsibility of the third party, and our Company assumes no relevant legal liability. You are advised to exercise due diligence and independently assess any associated risks before clicking this link to access the third-party website.