Graceful Life Deferred Annuity Plan II
Enjoy up to 16% premium discount on the first year’s premium
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Insurance plan Premium payment mode Premium payment term First year annual premium
(excluding premium levy)
Premium discount on the first year’s premium
Graceful Life Deferred Annuity Plan II Annual 5 years HKD50,000 or above /
USD6,700 or above
5.0%
10 years HKD20,000 to below HKD50,000 /
USD2,700 to below USD6,700
8.5%
HKD50,000 to below HKD100,000 /
USD6,700 to below USD13,500
12.5%
HKD100,000 or above /
USD13,500 or above
16%

Terms and conditions:

  1. This customer promotion (the “Offer”) is valid from 1 July 2021 to 30 September 2021 (both dates inclusive) (the “Promotion Period”).
  2. The Offer is only applicable to the application submitted through the agency channel of China Life Insurance (Overseas) Company Limited (“China Life (Overseas)”).
  3. The Offer is only applicable to China Life (Overseas)’s “Graceful Life Deferred Annuity Plan II” (the “Plan”), and which fulfills the following requirements:
    • customers must submit complete application and initial premium during the Promotion Period;
    • the application signed date must be within the Promotion Period;
    • the first year annual premium must reach HKD50,000 or above/USD6,700 or above (excluding premium levy) (applicable to 5-year premium payment term), or HKD20,000 or above/USD2,700 or above (excluding premium levy) (applicable to 10-year premium payment term); and
    • the premium must be paid in annual mode.
  4. The Offer is calculated on a per policy basis regardless of the number of policies a policyholder has applied for.
  5. The Offer is NOT applicable to any premium levy and prepaid premiums.
  6. The premium discount will not be entitled to a tax deduction. For details on the tax deduction, please refer to the product brochure and information provided by Inland Revenue Department.
  7. The Plan is underwritten by China Life (Overseas) and is subject to all respective policy terms and conditions. For product information, please refer to the terms and conditions set out in the product brochures and provisions of the policy issued by China Life (Overseas). All details will be subject to the provisions of the policy.
  8. China Life (Overseas) reserves the right to amend all or part of the terms and conditions of the Offer or terminate or revoke the Offer without issuing further notice. In the event of any disputes, China Life (Overseas) shall have absolute discretion in making a final decision.
  9. Save and except China Life (Overseas) and policyholders, no other person or entity shall have any rights under the contracts (Rights of Third Parties) Ordinance to enforce any of these terms and conditions.
  10. By participating in the Offer, policyholders agree that they have read and agreed with the terms and conditions herein.
  11. The terms and conditions are governed by and must be construed in accordance with the laws of Hong Kong Special Administrative Region.
  12. This promotion material is for reference only and is intended to be distributed in Hong Kong only. It shall not be construed as any provision of or offer to sell or solicitation to buy any insurance product of China Life (Overseas) outside Hong Kong.