Promise Family Protector

Promise Family Protector

Product Summary

In view of your concern, Promise Family Protector (the “Plan”) provides life protection for which your family can receive financial support when in need, and also allows you to choose the settlement option of the benefits, helping you to safeguard their financial future. If the insured’s parent or spouse passes away as the policyholder or the beneficiary, we will waive the future premiums of the Plan to keep the protection in force for you and your family. In addition, the Plana offers various premium payment terms and different policy currencies, so that you can fulfill your promises to your loved ones with ease.

Enjoy up to 15% premium discount on the first year’s premium upon successful enrollment! Click here for details.

Product Icons

Death benefit


Accidental death benefit


Premium waiver


Optional riders

Product Features

 Life protection providing peace of mind to your loved ones


Death benefit

If the insured unfortunately passes away while the policy is in force, we will pay the beneficiary a death benefit which is equal to 100% of the sum assured, plus non-guaranteed terminal dividend1 (if any), and less all the indebtedness (if any).

The policy will be terminated after we pay the death benefit.


Accidental death benefit

While the policy is in force, and prior to the policy anniversary that the insured reaches age 66 and within the first 10 policy years from the policy effective date, if the insured suffers an injury caused by an accident, and dies from such injury within 180 days (both dates inclusive) from the date of such occurrence, the Plan will pay the beneficiary an extra accidental death benefit which is equal to the lower of:

1)100% of the accumulated premium due and paid; or

2) HKD500,000 / USD62,500.

The total amount of accidental death benefit payable under all policies underwritten by the Company shall not exceed HKD1,000,000 / USD125,000, or equivalent amount in other currencies for the same insured.


Death benefit and accidental death benefit settlement option

While the insured is alive, you can choose how the death benefit and accidental death benefit (if any) are to be paid, as long as the settlement options of both benefits are the same. You can choose to settle the benefits in a lump sum or by instalments with a fixed amount annually over a fixed payment term of 10 or 20 years, helping you to safeguard your family’s financial future.

For the instalment option, the remaining balance of death benefit and accidental death benefit (if any) will be deposited in the policy to accumulate interest until the end of the payment term. The interest will be calculated on an annual basis and it is non-guaranteed which will be determined by us from time to time. The accumulated interest (if any) will be paid together with the last instalment of death benefit and accidental death benefit (if any). If the beneficiary dies during the settlement period of the death benefit and accidental death benefit (if any), we will pay the remaining balance of the death benefit and accidental death benefit (if any) with interest (if any) in a lump sum payment to the estate of the deceased beneficiary.

If the amount of death benefit at the date of the insured’s death is less than HKD400,000 / USD50,000, or the policyholder does not specify any settlement option, we will pay out the benefit amount to the beneficiary in a lump sum.


 Premium waiver for continuous protection

If the parent of an insured below age 18 or the spouse of an adult insured have been the policyholder or beneficiary of the Plan for 2 consecutive years, and unfortunately passes away during the premium payment term, we will waive the undue premiums of the Plan, continue to care for your family members, so that they can continue to enjoy protection. Eligibility for the “parental premium waiver benefit”2 or “spousal premium waiver benefit” 2 will only be effective if the insured’s parent or spouse is below age 50 on the policy effective date.

In case there is a change in your family status, you can reassign the insured’s parent or spouse who is below age 50 as the policyholder or beneficiary, “parental premium waiver benefit” or “spousal premium waiver benefit” will become effective again after 2 years from the effective date of the change.


 Combine savings elements to offering potential returns

“Promise Family Protector” is a participating plan, offering you comprehensive coverage and maturity benefit upon policy maturity, which is equivalent to guaranteed cash value and non-guaranteed terminal dividend1 (if any), less all indebtedness (if any), so that you can also enjoy potential wealth accumulation.


 Multiple premium payment options

You can choose a premium payment term of 5 years, 10 years, 15 years or 20 years3, or even annual and premium prepayment4, as well as a policy currency in HKD or USD, giving you financial flexibility. Moreover, the premium remains fixed throughout the premium payment term, easing your financial planning.


 24-hour worldwide emergency assistance service

If the insured is diagnosed with an illness or is injured in an accident outside the country of residence, he/she will access comprehensive coverage under the free 24-hour worldwide emergency assistance service5.


 Optional riders to meet your needs

InIn addition, you can choose to attach riders to the Plan, including medical, critical illness and accident, etc to further enhance the protection for your family and yourself.

Product Details

Enrollment Terms

Premium payment term and issue age

Premium payment term

Issue age

5 years 15 days to age 65
10 years 15 days to age 60
15 years 15 days to age 55
20 years 15 days to age 50

Benefit term

To age 100 of the insured

Premium payment mode

Annual, semi-annual, quarterly, monthly3, or annual and premium prepayment4

Policy currency


Minimum sum assured

HKD80,000 / USD10,000

Maximum sum assured

HKD50,000,000 / USD6,250,000


  1. Terminal dividend is non-guaranteed and is a one-time dividend. It is not perpetually attached to the policy. The amount of the terminal dividend will be subject to adjustment when it is declared.
    Terminal dividend may become zero in some circumstances. For more information, please refer to clause 5 and clause 6 under “Important information” and “Non-guaranteed benefit” risk.
    Starting from the 5th policy anniversary, the terminal dividend shall be paid upon the occurrence of the earliest of the following conditions:
      (i)when the death benefit is paid;
      (ii)when the policy is surrendered; or
      (iii)when the policy reaches the policy maturity date.
  2. “Parental premium waiver benefit” refers to “premium waiver benefit for death of parents” under the Plan’s policy document while “spousal premium waiver benefit” refers to “premium waiver benefit for death of spouse” under the Plan’s policy document. The total amount of premium waived under “parental premium waiver benefit” and “spousal premium waiver benefit” of all policies underwritten by China Life (Overseas) shall not exceed HKD2,500,000 / USD312,500, or equivalent amount in other currencies for the same insured.
  3. 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.
  4. 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 1% p.a. and the interest rate is not guaranteed.
  5. 24-hour worldwide emergency assistance service is provided by third party service provider. We shall not be liable for any matter in connection with the services. China Life (Overseas) reserves the right to amend the terms and conditions thereof from time to time without prior notice.

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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