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Brighter Life Insurance Plan

Brighter Life Insurance Plan

Product Summary

Give your child a rainbow of colours to paint their future
The perfect way to express your enduring devotion to your child for a bright future as they grow into adulthood and beyond.

Product Icons
 

Cash Coupons

 

Triple Protection

 

Maturity Benefit

 

Life Protection

Product Features

 Education fund for your children

Turning 18 is an important milestone. That is why Brighter Life Insurance Plan (the “Plan”) provides a guaranteed cash coupon as lucky money on the policy anniversary immediately following the insured’s 18th birthday. The guaranteed cash coupon is equal to 8% of the current sum assured.

The Plan also provides a guaranteed cash coupon on each policy anniversary between age 18 and 21 of the insured. For example, for insured who enrolls the Plan at age 0 to 4, the guaranteed cash coupon payable each time is 14% of the current sum assured, and the total amount payable will be up to 56% of the current sum assured. You may refer to the guaranteed cash coupon table for the guaranteed cash coupon payable to insured of other issue ages.

You can choose to withdraw1 the guaranteed cash coupon or leave it in the policy to earn interest2 until policy maturity.

 
Issue age Guaranteed cash coupon (% of the current sum assured)
Payable on the policy anniversary immediately following the insured’s 18th birthday Payable on the policy anniversary immediately following the respective ages of the insured
Age 18 Age 19 Age 20 Age 21 Age 65
Age 0-4 8% 14% 14% 14% 14% 100%
Age 5-9 8% 12% 12% 12% 12% 100%
Age 10-11 8% 10% 10% 10% 10% 100%

 Accumulate wealth through dividends

You will receive a non-guaranteed dividend2 at every policy anniversary while the policy is in force. You can opt to leave the non-guaranteed dividends in the policy to earn interest2 until policy maturity. Alternatively, you may withdraw1 that to achieve financial goals or use that to pay future premiums.

 Triple protection when grown up

Your children will need additional coverage as they grow up. Therefore, on the policy anniversary immediately following the insured’s 21st birthday and after the guaranteed cash coupon is paid, the sum assured of the Plan will be automatically increased by 3 times without the need to pay additional premiums.

The insured will also enjoy life protection until age 100 with premium payment up to age 65 only, offering your children adequate protection at different life stages.

 Savings for a prosperous retirement

On the policy anniversary immediately following the 65th birthday of the insured, a guaranteed cash coupon equivalent to the current sum assured will be provided. This way, you can extend your care to your children until they reach old age.

On the policy anniversary immediately following the 100th birthday of the insured, a maturity benefit equal to the current sum assured, plus accumulated guaranteed cash coupons and interest2 (if any), and accumulated non-guaranteed dividends and interest2 (if any), and less all indebtedness (if any), will be paid .

 Life protection

In case the insured passes away while the policy is in force, a death benefit will be provided. If the insured passes away before the first policy anniversary after age 21, the death benefit will be equal to the initial sum assured, plus accumulated guaranteed cash coupons and interest2 (if any), and accumulated non-guaranteed dividends and interest2 (if any), and less all indebtedness (if any).

If the insured passes away on and after the first policy anniversary after age 21, the death benefit will be equal to 300% of the initial sum assured, plus accumulated guaranteed cash coupons and interest2 (if any), and accumulated non-guaranteed dividends and interest2 (if any), and less all indebtedness (if any).

The plan features above are based on assumption that you have not applied for adjustment of sum assured.

Product Details

Brighter Life Insurance Plan

Issue age 15 days to age 11
Benefit term To age 100 of the insured
Premium payment term3 To age 65 of the insured
Premium payment mode Annual, semi-annual, quarterly, monthly4, annual and premium prepayment5
Policy currency HKD or USD
Minimum sum assured HKD55,000 or USD7,000

Notes:

  1. You may withdraw the guaranteed cash coupons and/or non-guaranteed dividends at any time without any charge, however, the policy value and death benefit will be affected in case of withdrawal.
  2. The dividends and interest are not guaranteed. The actual benefits and/or returns may be lower or higher than the estimates. China Life (Overseas) reserves the right to revise these from time to time. The actual amount of dividends is subject to the overall performance of China Life (Overseas)’s participating businesses, including investment returns and claims, etc.
  3. In addition to premiums, you have to pay policy fee of HKD200/USD25 (subject to policy currency) per year during the premium payment term.
  4. If the required renewal premium is paid by you within the grace period, the policy shall continue to be in force. For details, please refer to the policy provisions issued by China Life (Overseas). If the policy is lapsed or surrendered early, the policy cash value received by you may be considerably less than the total amount of the premium paid.
  5. If you choose the annual and premium prepayment option, you can withdraw the unused prepaid premium (including interest, if any) at one time. China Life (Overseas) will charge 2% of the withdrawal amount, at a minimum amount of HKD100 / USD12.5. You can withdraw the unused prepaid premium once only. The interest rate of prepaid premium is not guaranteed.

Important Information

The above information is for reference only. The detailed terms, conditions and exclusions of the Plan are subject to the relevant policy contract.
 
 

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