Savvy Life Lady Protection Plan

Savvy Life Lady Protection Plan

Product Summary

To live a life of confidence and health, you require sufficient financial backup and comprehensive medical cover.

Product Icons

Critical Illness Benefit


Female Disease Benefit


Combining Savings & Protection


Comprehensive Protection

Product Features

To live a life of confidence and health, you require sufficient financial backup and comprehensive medical cover. Savvy Life Lady Protection Plan (“the Plan”) provides cover for critical illnesses, female diseases and other benefits safeguards for your health, so that even with the unfortunate diagnosis of any covered illness, you will receive a lump-sum payment to bolster your finances, allowing you to focus on your recovery.

 Critical Illness Benefit1

The Plan covers 63 Critical Illnesses including cancer and stroke. In the event of diagnosed with any of the covered Critical Illnesses, an amount equal to 100% of the current Sum Assured (that is any reduction of the Sum Assured or any claim payment made to the Plan) will be provided and the Policy will be ended thereafter.

1 Accidental Head Injury resulting in Major Head Trauma
2 Acute Necrohemorrhagic Pancreatitis
3 AIDS/ HIV due to Blood Transfusion
4 Alzheimer's Disease
5 Amputation of Feet due to Complication from Diabetes
6 Amyotrophic Lateral Sclerosis
7 Angioplasty
8 Apallic Syndrome
9 Aplastic Anaemia
10 Bacterial Meningitis
11 Benign Brain Tumour
12 Blindness
13 Brain Damage
14 Cancer
15 Cardiomyopathy
16 Chronic Adrenal Insufficiency (Addison's Disease)
17 Chronic and Irreversible Kidney Failure
18 Chronic Liver Disease
19 Chronic Relapsing Pancreatitis
20 Coma
21 Coronary Artery Disease Requiring Surgery
22 Deafness (Loss of Hearing)
23 Dissecting Aortic Aneurysm
24 Eisenmenger's Syndrome
25 Elephantiasis
26 Encephalitis
27 End Stage Lung Disease
28 Fulminant Hepatitis
29 Heart Attack
30 Heart Valve Surgery
31 Loss of Independent Existence
32 Loss of Speech
33 Major Burns
34 Major Head Trauma
35 Major Organ Transplantation
36 Medullary Cystic Disease
37 Motor Neurone Disease
38 Multiple Sclerosis
39 Muscular Dystrophy
40 Necrotising Fasciitis
41 Occupationally Acquired AIDS/ HIV
42 Other Serious Coronary Artery Disease
43 Paralysis
44 Parkinson's Disease
45 Pheochromocytoma
46 Poliomyelitis
47 Primary Pulmonary Arterial Hypertension
48 Progressive Bulbar Palsy
49 Progressive Supranuclear Palsy
50 Severance of Limbs
51 Severe Creutzfeld-Jacob Disease (CJD)
52 Severe Crohn's Disease
53 Severe Infective Endocarditis
54 Severe Myasthenia Gravis
55 Severe Rheumatoid Arthritis
56 Severe Ulcerative Colitis
57 Spinal Muscular Atrophy
58 Stroke
59 Surgery to Aorta
60 Systemic Lupus Erythematosus (S.L.E.) with Lupus Nephritis
61 Systemic Scleroderma
62 Terminal Illness
63 Tuberculosis Meningitis


 Female Disease Benefit1

The Plan provides you different type of coverage to suit your needs at different life stages.

(1) Carcinoma-in-situ Protection covers areas including breast, uterus, cervix uteri, fallopian tube(s), ovary/ovaries and vagina.
(2) Lupus Nephritis Protection against Lupus Nephritis at kidney.
(3) Complications of Pregnancy (additional benefit) Additional protection against pregnancy complications including Ectopic Pregnancy, Hydatidiform Mole, Disseminated lntravascular Coagulation, or Postpartum Psychosis.
(4) Death of Fetus and Infant(additional benefit) Additional benefit if the new-born baby suffers unfortunate death before or after delivery.
(5) Congenital Anomalies of Infant(additional benefit) Additional protection against Congenital Anomalies, including Down's Syndrome, Spina Bifida (excluding Spina Bifida Occulta), Tetra logy of Fallot, Oesophageal Atresia & Oesophago Tracheal Fistula or Hydrocephalus.
Please refer to point 4 “Limitation” of “Important Information” section for the waiting period of the above benefits. The maximum amount payable under each claim is 20% of the current Sum Assured or HKD240,000/USD30,000, whichever is lower. Except for the first two items of protection, the Sum Assured remains unchanged after each claim is made. For first two items of protection, as the Sum Assured will reduce after payment of a claim, the Premiums and cash value of the Plan will be adjusted accordingly.

Female Disease Benefit will terminate once the accumulated benefit payout(s) reaches the maximum limit. Meanwhile, if the Insured is already covered by the same protection under other plans provided by China Life (Overseas), the total claim payment will also be subject to the maximum limit of HKD240,000/USD30,000.

 Long-term Savings and Protection in One Plan

On the 9th and 18th Policy Anniversary, you will receive guaranteed Cash Coupons equivalent to 10% of the Sum Assured to spend as you wish. In addition, you will receive a non-guaranteed Policy dividend2 each year. You can accumulate these in the Policy account2, withdraw or for Premium payment.

With just 18 years of Premium payment, you may enjoy life coverage until age 100. An amount equivalent to the current Sum Assured will be provided by then to celebrate the 100th birthday of the Insured. Any accumulated Cash Coupons with interest and accumulated dividends with interest will also be paid in full, less all Indebtedness (if any), and the Policy will be ended thereafter.

If the Insured passes away while the Policy is in force, an amount equal to the current Sum Assured will be provided as the death benefit. Any accumulated Cash Coupons with interest and accumulated dividends with interest will also be paid in full, less all Indebtedness (if any).

 Other Benefits


(1) Newborn Infant Bonus3 To celebrate the birth of your kids, the Plan will provide a Newborn Infant Bonus equal to 1.5% and 0.5% of the current Sum Assured on the respective birth of your first and second babies.
(2) Female Medical Check-ups Benefit4 Starting from the 3rd Policy Anniversary, the Insured will be entitled to a biennial Female Medical Check-up Benefit free of charge.
(3) Inflation Indexation Option For better protection against inflation, the Sum Assured may increase annually for up to 15 times before the Insured attains his/her 60th birthday at an annual indexation rate determined by China Life (Overseas) where evidence of insurab山ty is not required. Having said that, subsequent Premium, Cash Value and Cash Coupon(s) will be calculated with reference to the latest Sum Assured, and the cumulative addition to the Sum Assured cannot be greater than the initial Sum Assured. In addition, the benefit will be terminated if you do not elect this option for 2 consecutive years.
(4) Waiver of Premium Benefit Rider If the Insured is totally and permanently disabled5, that is unable to work for 180 days or more as a result of sickness or an accident event, the Premiums under the Plan will be waived while the Policy remains effective, until the Insured reaches age 60.
(5) International Emergency Assistance Service6 Even if the Insured is diagnosed with an illness or is injured in an accident outside Hong Kong, you don't need to worry too much as he/she may enjoy comprehensive coverage under the free 24-hour Worldwide Emergency Assistance Service.
(6) Additional Protection To boost your protection, you may enroll designated rider(s), such as accident, hospitalization and term insurance, to enhance your protection.


1 Please refer to the Policy documents for the definition of covered illnesses.

2 The dividends and interest are not guaranteed. The actual benefits and/or returns may be lower or higher than the estimates. China Life Insurance (Overseas) Company Limited (“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, operational expenses and claims, etc.

3 Each Insured will only be entitled to 2 Newborn Infant Bonus, and this benefit is only applicable to the infant of the Insured who born after 300 days from the Policy Effective Date or the last date of reinstatement of the Policy (whichever is later) while the Policy is in force. The Newborn Infant Bonus will be provided only after China Life (Overseas) has received the proof of birth of the newborn infant within 60 days from the date of birth of the infant.

4 The Female Medical Check-up Benefit is provided by designated service providers. China Life (Overseas) does not warrant or guarantee the quality and supply of said services, nor take responsibility for the liabilities incurred from the provision of services by designated providers. Under no circumstances would China Life (Overseas) assume any liability for the actions, misdeeds or services of the designated providers. China Life (Overseas) reserves the rights to change any service provider and to review, adjust or amend the details and terms and conditions of said services, and to terminate and/or suspend such services without prior notification. The services provided by designated providers and/or your acceptance of such services shall construe a contract between you and the provider, which will be independent of this insurance Plan.

5 Totally and Permanently Disabled or Total and Permanently Disability means the complete inability of the Insured to engage in or continue to work for reward in any occupation, business or employment for a continuous period of at least 180 days as a result of sickness or an external and obvious accident event provided it is certificated by a Registered Medical Practitioner recognized by the government. Please refer to relevant terms for the definition of "Total Disabled or Total Disability" in other special circumstances. Please refer to the "Waiver of Premium Benefit Rider" for the detailed terms and conditions of coverage and exclusions.

6 24-hour Worldwide Emergency Assistance Service is provided by Inter Partner Assistance Hong Kong Limited. The provision of services are subject to the terms and conditions of the Inter Partner Assistance Hong Kong Limited. China Life (Overseas) reserves the right to amend the terms and conditions thereof from time to time without prior notice.

7 Policy fee of HKD200/USD25 (depends on Policy currency) will be charged during the Premium payment term. The fee will be charged together with the Premium.

8 If customers opt for the Annual & Prepayment of Premium option, they can withdraw the unused prepaid Premium (including interest, if any) at one time and China Life (Overseas) will charge 2% of the withdrawal amount as withdrawal fee. The minimum fee will be HKD100 or USD12.5. Customers can withdraw the unused prepaid Premium once only. The interest rate of Prepayment of Premium is not guaranteed.

Product Details

Savvy Life Lady Protection Plan

Issue Age 16 to 60 years old
Policy Currency HKD or USD
Premium Payment Term7 18 Years
Benefit Term To age 100 of the Insured
Premium Payment Method Annual, Semi-annual, Quarterly, Monthly or Annual & Prepayment of Premium8
Minimum Sum Assured Below age 45: HKD120,000 or USD15,000
Age 45 or above: HKD80,000 or USD10,000

The information provided herein is for reference only. Please refer to the insurance contract for the details of the provisions, benefit terms and exclusions of the Plan.

Product Important

This product brochure is for reference only. Please refer to the Policy documents for the complete definitions of the capitalised terms, as well as all the terms and conditions of this product. You are reminded to review all of the relevant product materials provided to you and to seek independent professional advice if necessary.

  1. The Policy is underwritten by China Life Insurance (Overseas) Company Limited ("China Life (Overseas)" or "us/we/our"). 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.
  2. China Life (Overseas) shall make the final decisions on the underwriting and claim We shall rely on your submitted information to assess whether to accept or decline your application, and shall refund any Premium paid without interest for declined cases.
  3. Exclusions - any claims directly or indirectly caused by or resulting from the following conditions will not be covered: (1) any Illness suffered within 60 days from the Policy Effective Date or the last date of reinstatement of the Policy, whichever is later; (2) congenital or pre-existing conditions before applying for the Policy (except Muscular Dystrophy); (3) any illness caused by Human Immunodeficiency Virus (HIV), including Acquired Immunodeficiency Syndrome (AIDS) and/or any mutations, derivations or variations (except AIDS / HIV due to Blood Transfusion and Occupationally Acquired AIDS / HIV); (4)any illness or surgery caused by self-inflicted injuries or suicide, whether sane or not; and (5) war, act of hostility (declared or not), civil war, riots, civil commotion, strike or activities of terrorism.

    For the "Waiver of Premium Benefit Rider", any Totally and Permanently Disability directly or indirectly caused by or resulting from the following conditions will not be covered: (1) intentional self-injury or suicide (whether sane or not), intoxication by alcohol or insanity; (2) war, hostilities or warlike operations (whether war be declared of not), civil war, rebellion or riots; or (c) flying or other aerial activity except as a passenger in a routine flight on a licensed public air service.

    In addition, the information stated herein is for reference only. Please refer to the General Provisions for the exact terms and conditions and limitations such as incontestability, suicide and fraud etc. or all exclusions.
  4. Limitation - In the event of the Insured is diagnosed by a Registered Medical Practitioner as suffering from more than one of the covered Illnesses, the maximum claim amount payable to the Insured shall not exceed the Sum Assured of the Plan.

    Regarding the coverage on Carcinoma-In-Situ and Lupus Nephritis under Female Disease Benefit, the first symptom should appear on the Insured after 60 days from the Policy Effective Date or the last date of reinstatement of the Policy, whichever is later, otherwise the benefit(s) will not be paid. For Complications of Pregnancy, Death of Fetus and Infant and Congenital Anomalies of Infant, the conditions should occurs after 300 days from the Policy Effective Date or the last date of reinstatement of the Policy, otherwise the benefit(s) will not be paid. Death of Fetus and Infant means either the death of the Insured's fetus during the period after the 28th week of pregnancy and prior to delivery, or the death of the Insured's infant within 30 days after the date of delivery.
  5. Non-Payment of Premium / Automatic Premium Loan - You should pay Premium(s)on time according to the selected Premium payment schedule. If the due Premium remains unpaid upon the expiry of the Grace Period, an Automatic Premium Loan will be taken out against the Policy to settle the unpaid Premium automatically. All Policy Loans are interest-bearing and calculated at a rate (as stated on our corporate website to be declared by us from time to time. Interest accrued shall become a part of the Indebtedness. When the loan balance exceeds the guaranteed Cash Value of the basic plan of the Policy, the Policy will be lapsed and you will lose the related insurance coverage and suffer a financial loss. Under these circumstances, the Surrender Value of the Policy will be deducted to repay the outstanding loan balance (including interest), and the remaining value will be refunded to you.
  6. Dividend and/or Crediting Interest Philosophy - This is a participating and/or providing interest on accumulation insurance plan. Premiums received from the policies will be invested to a variety of assets according to China Life (Overseas)'s investment strategy. The surplus from the invested assets will be shared with Policyholder through declared dividends and/or interest rate on accumulation in accordance with the relevant clause in the benefit provision. China Life (Overseas) will ensure a fair sharing of profits among different groups of policyholders and also between policyholders and China Life (Overseas). China Life (Overseas) will review and determine the dividend and/or interest rate on accumulation at least once a year, the current projection on dividend and/or interest rate on accumulation are not guaranteed and subject to change with the entire performance of the relevant policies and the factor including but not limited to the investment returns, operating expense, claims experience, commission, persistency, past experience and future prospect. In addition, China Life (Overseas) will consider both past and future outlooks of all factors including but not limited to:

    Claims – include the costs of providing death benefit as well as other benefits under the product(s).

    Investment return – including the interest income, dividend income, outlook of interest rates and any changes in the market value of the product's backing asset.

    Expenses – including both direct expenses (e.g. commissions, underwriting, issue and premium collection expenses) and indirect expenses (e.g. general overhead expenses) related to the product.

    Persistency – including policy lapse and partial surrender experience.

    Note: The dividend or interest rate history is not an indicator of the future performance of this product.

  7. Investment Philosophy, Policy and Strategy - China Life (Overseas) aims to strive for minimizing volatility of the investment return and provides stable return as our investment philosophy. Assets are mainly invested in bonds and other fixed income instruments, such as government and corporate bonds and other fixed income instruments to support the guaranteed financial obligation. To enhance the performance of the investment portfolio, China Life (Overseas) invests in equity-type investments and other investment instruments such as mutual funds and direct / indirect investment in properties or commercial institutions.

    The investment portfolio will be diversified across different geographic regions and /or industries. Investment strategy will be subject to change depending on the market conditions and the economic outlook. China Life (Overseas) will inform Policyholder the relevant changes in dividend and/or interest rate on accumulation and the impact to the policies when there is change in the investment strategy.

    China Life (Overseas)'s current investment strategy on participating and/or providing interest on accumulation plans are as follow:
    Asset Type Target Asset Mix (%)
    Bonds and other fixed income instruments 50% to 90%
    Equity-type investment and other investments 10% to 50%
    Please refer to China Life (Overseas) Company's website for dividend history, Dividend and/or Crediting Interest Philosophy, Investment Philosophy, Policy and Strategy, as well as the fulfillment ratio of China Life (Overseas).
  8. Cooling-off Right - You have the right to cancel the Policy within the Cooling-off Period and obtain a refund of any Premiums paid by giving written notice to us provided that you have not made any claims under the Policy. Such notice must be signed by you and submitted to China Life (Overseas) at 22/F, CLI Building, 313 Hennessy Road, Wan Chai, Hong Kong within 21 days after the delivery of the Policy or issue of a Notice to you or your representative informing you that the Policy is available, whichever is earlier.


What are the key product risks?
Credit risk This product is a life insurance Policy issued by China Life (Overseas). Any Premium paid will become part of our assets and our financial strength will affect our ability to meet our contractual obligations to you under the Policy. Therefore this product is subject to our credit risk.
Early surrender risk The savings component of the Plan is subject to risks and possible losses. Should you surrender the Policy early, you may receive an amount considerably less than the total amount of Premiums paid.
Exchange rate and Currency risks Any Policy with foreign currencies involves risks, such as potential changes in political or economic conditions that may substantially affect the price or liquidity of a currency. The fluctuations in exchange rates may also cause financial losses to you during currency conversions. You should consider the potential currency and exchange rate risks before deciding which Policy currency you should take.
Inflation risk The cost of living in the future may be higher than expected due to the effects of inflation. Therefore, your current planned benefits and/or returns may be insufficient to meet your future needs even if we fulfill all of our contractual terms and obligations.
Liquidity and Withdrawal risk You are obliged to hold the Policy and pay the Premium for the designated period of time. If you terminate the Policy prior to the Policy Maturity Date, you will suffer a financial loss. In case you make partial withdrawals from the Policy, your account value, death benefit and other Policy values will be reduced, and you may need to pay the relevant handling fee or charges (if any).
Non-guaranteed Benefit This Plan consists of non-guaranteed benefits and/or returns. The actual amounts of benefits and/or returns in the future may be different from the benefits and/or returns which project on the product materials. The product materials are for illustrative purposes only.
Policy Termination The Policy will be terminated if (a) the Policy has lapsed or is surrendered; (b) the Policy maturity benefit is paid; (c) the death benefit is paid; (d) the Critical Illnesses Benefit is paid; (e) the due Premium has not been paid within 31 days after the Premium Due Date and the Policy has no remaining guaranteed Cash Value; or (f) the Indebtedness of this Policy is equal to or exceeds the guaranteed Cash Value of this Policy.

For the "Waiver of Premium Benefit Rider", it will be terminated (a) if the Plan matures, lapses, expires, is surrendered or converted to paid-up insurance; (b) on the Policy expiry date as stated on the Policy Information Page; (c) on the Insured 60th birthday; or (d) any Premium of the Plan remains unpaid on the expiry of the Grace Period.
Premium adjustment and renewal China Life (Overseas) has the absolute right and discretion to adjust the renewal premium payable under the Policy at the end of each Coverage Period (that is every year). Factors leading to premium adjustment may include but are not limited to the experience in claims, policy surrender, investment return, and expenses incurred by and/or in relation to this product.


The information and descriptions contained herein are not intended to be complete descriptions of all terms, exclusions and conditions applicable to the products and services, but are provided solely for general informational purposes. For complete details please refer to the actual policy or the relevant product or services agreement.


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