WHOLE LIFEIssue age
AGED 15 DAYS - 70 YEARSYou can buy this from
YOUR FINANCIAL CONSULTANT
@MyLove Insurance Plan I provides lifelong insurance protection for people aged from 15 days to 70 years old, with coverage extending to age 100. By paying the appropriate premiums, you can build ample life insurance to enable you and your loved ones to enjoy life without worrying about the future.
For the first ten policy years, the plan offers an extra death benefit of 100% sum insured (representing a death benefit of 200% sum insured in aggregate) and an extra accidental death benefit of 100% sum insured on top if the death of the insured is caused by an accident2 (representing a death benefit of 300% sum insured in aggregate), letting you to focus on the more important matters during your prime working years.
You also have the privilege to use your extra death benefit to acquire a new whole life policy before you reach age 603 and no evidence of insurability is required.
@MyLove Insurance Plan I copes with your wealth management needs with great flexibility.
Flexible premium payment periods – the plan aims to suit your financial circumstances by offering multiple premium payment period options, including 10, 15 or 20 years, as well as making premium contributions to age 65 or age 100.
Premium prepayment options – we offer premium prepayment period options as short as one year or five years for 10-year payment term policy. You can earn interest by prepaying premiums4, helping you to complete your premium contributions early at an even lower cost.
Premium discount offer – buy a designated level of coverage to enjoy premium discounts throughout the policy period, making it even easier to manage your finances.
In addition to guaranteed cash value, @MyLove Insurance Plan I also pays out annual dividend1 that you can withdraw in cash or leave in your policy to earn interest1. The plan also pays terminal dividend1 upon policy surrender, maturity or the insured's death, adding to wealth accumulated while providing you with appropriate coverage.
- Annual dividend, terminal dividend and interest from annual dividend are not guaranteed. However, once declared, the declared amount of the annual dividend and the accumulated interest will be credited to the policy. An annual dividend may be payable at the sole discretion of the company on each policy anniversary after this policy has been in force for a minimum number of policy years and provided that all premiums due have been paid up to each relevant policy anniversary. The amount of terminal dividend in each declaration may be greater or lesser than the previous amount based on a number of factors, including but not limited to investment returns and general market volatility.
- If an accident occurring in Hong Kong directly results in the death of the insured within 180 days of the accident, we will provide an extra accidental death benefit to the beneficiaries.
- If the insured’s issue age is 57 or below, on or after the 2nd policy anniversary, the insured can use all or part of the extra death benefit to acquire a new whole life policy without further evidence of insurability at any time before the earlier of the 10th policy anniversary or the policy anniversary on or immediately following the insured’s 60th birthday. This option can be exercised once while the policy is in force, and is subject to the prevailing rules of the company. The amount of sum insured of the new whole life policy shall not exceed the amount of the Extra Death Benefit of the basic plan of the Policy on the date of the Company’s approval of your written request, and is subject to the discretion of the Company.
- Premium prepayment option is applicable to policies with 10-year premium payment period and annual premium payment mode only. Prepaid premium will be credited to your premium deposit account. The amount in premium deposit account will be accumulated at the interest rate offered at that time (the current interest rate offered is 2% per annum but it is not guaranteed). Early withdrawal and refund of prepaid premium is not allowed. Policyholder should pay for the outstanding amount in case the balance in premium deposit account is insufficient to settle the premium.
The above product summary is for reference only. Please refer to the policy provision for the terms and conditions.
If you are interested in this product, please contact your insurance consultant.