Life Insurance

SAVINGS
FTLife offers “IncomePro” Annuity Plan that takes good care of your needs with great flexibility. It provides Monthly Income and life insurance, giving you an extra peace of mind. The plan also gives you a wide array of options for Premium Payment Period, Accumulation Period and Income Period with comprehensive protection, so that you can live your life to the fullest after retirement!

Period

Until the end of the Income Period

Issue Age

15 days to age 70

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Your Financial Consultant

Retirement Product – Outstanding Achiever

“Benchmark” Wealth Management Awards 2019
Retirement Product – Outstanding Achiever

Various Options of Premium Payment Period, Accumulation Period and Income Period

"IncomePro" Annuity Plan can fit easily into your retirement plan with its many options of Premium Payment Period (5, 9 and 12 years), Accumulation Period and Income Period. The Income Period begins immediately when the Accumulation Period is over. You can receive Guaranteed Monthly Income1 and Non-guaranteed Monthly Income1 (if any) up to age 100, or until the end of an Income Period of your own choice. Guaranteed Monthly Income1 will not be affected by market volatility, allowing you to stretch out and find your potential in the retired life as planned. In times of financial abundance, you may keep Monthly Income1 in your policy to accumulate interest1.

Flexibility to Change Your Accumulation Period and/or Income Period2

You might want to change your retirement planning at different stages of life. "IncomePro" Annuity Plan allows you to plan your retired life with high flexibility. Starting from the 3rd Policy Anniversary, you may choose to advance or delay the payment of annuity2, or to prolong or shorten the Income Period2 according to your needs. This flexibility lets you have 100% control of your retirement life.

Guaranteed Cash Value, Annual Dividend3, Special Bonus3 and Terminal Dividend3

In addition to the Guaranteed Cash Value, "IncomePro" Annuity Plan offers Annual Dividend3, Special Bonus3 and Terminal Dividend3. Annual Dividend3 will be distributed annually from the 1st Policy Anniversary until the end of the Accumulation Period. Special Bonus3 (if any), up to 6 months of Monthly Income1, will be paid upon the end of the Accumulation Period. We will also provide a lump-sum of Terminal Dividend3 (if any) upon policy termination or policy maturity to further boost your wealth.

Inflation Protector Option4

The future living expenses is difficult to anticipate. With the Inflation Protector Option4 offered specially during the Premium Payment Period, the premium of the basic plan will be automatically increased by 5% of the initial premium at each Policy Anniversary during the Premium Payment Period without evidence of insurability. This option guards you against inflation by increasing your Monthly Income1, which serves as a retirement safety net.

Premium Holiday5

This plan offers Premium Holiday5 up to 2 years to provide you with the flexibility to deal with unexpected events or short-term needs. You can apply for a Premium Holiday5 starting from the 3rd Policy Anniversary. The premium payment of the next Policy Anniversary will be suspended, and you do not need to worry about the immediate termination of the policy.

Premium Payment Special Arrangement6

We understand that you may face different challenges in different stages of life. The Premium Payment Special Arrangement6 allows you to reduce future premiums of the basic plan during the Premium Payment Period6 and leave the partial surrender value in the policy to accumulate with interests6 . This option gives you more financial agility in times of needs.

Death Benefit

In the unfortunate event of the Insured’s death, Death Benefit up to 110% of the Total Premiums Paid plus accumulated Annual Dividends and interest3 (if any) and Special Bonus3 (if any) will be paid which grants you a peace of mind. Please refer to the At-a-Glance Table for more details about Death Benefit.

Policy Continuation Option7

“IncomePro” Annuity Plan specially provides Policy Continuation Option7 . During the lifetime of the Insured, the Policyowner can assign a Beneficiary. Upon the death of the Insured, the Beneficiary will become the new Policyowner and/ or new Insured and continue to enjoy the protection and steady stream of the annuity from the plan.

Travel Medical and Accidental Benefit8

You can give yourself over to new challenges and adventures without worries. During the Income Period, this plan provides the Insured with travel medical benefit8 up to 10% of Total Premiums Paid per policy year and an additional accidental benefit8 up to 100% of Total Premiums Paid in lump sum.

Advance Critical Illness Benefit9

During the Income Period, if the Insured is diagnosed with new Cancer, Stroke or Heart Attack, 50% of the remaining future Monthly Income1 amount (including both guaranteed and non-guaranteed portions) will be paid in advance as Advance Critical Illness Benefit9 for your appropriate medical treatment and care.

Terminal Illness Benefit10

During the Income Period, if the Insured is diagnosed with Terminal Illness10 a lump-sum Death Benefit will be paid in advance, and additional Monthly Income1 (including both guaranteed and non-guaranteed portions) will be paid continually in the next 12 months to help mitigate the financial burden during such difficult time.

Loss of Beloved Benefit11

During the Income Period, upon the death of the Insured’s spouse or any of the children, an extra lump-sum benefit of 20% of Total Premiums Paid of loss of Beloved Benefit11 will be provided.

Simple Underwriting for Easy Application

“IncomePro” Annuity Plan requires no medical check-up which simplifies the application process for you to start your retirement planning at the earliest stage possible.

 Free Worldwide Emergency Assistance Service12

Once enrolled in “IncomePro” Annuity Plan, you will have access to free 24-hour worldwide emergency assistance for immediate support wherever you may be. The maximum benefit (per incident) reaches up to USD 1,000,000, including services of emergency evacuation or repatriation and delivery of mortal remains. For details, please refer to related documents.

Remarks
  1. Monthly Income includes the Guaranteed Monthly Income and Non-guaranteed Monthly Income (if any). Monthly Income will be payable upon completion of each policy month after the commencement of the Income Period until the end of the Income Period. You may choose to leave the Monthly Income in the Policy and accumulated with current interest rate of 4.25% (non-guaranteed). Non-guaranteed Monthly Income can be adjusted on each Policy Monthly Anniversary and the actual amount during the Income Period might vary. The amount of Non-guaranteed Monthly Income will be determined based on the actual experiences and forecasts under the basic plan of the policy (including but not limited to investment returns, claims and policy renewal experience).
  2. The period being changed should match any of the pre-set options of the plan, and no application of such change will be accepted after the commencement of Income Period. Application to change the Accumulation Period and/or Income period is subject to the prevailing administrative rules of the Company.
  3. Annual Dividend, Special Bonus, Terminal Dividend and interest earned from the accumulated Annual Dividends and Special Bonus are all non-guaranteed. Terminal Dividend will be declared starting from the 1st Policy Anniversary and will be paid upon policy termination or maturity (whichever is earlier). Annual Dividend will be distributed after this policy has been in force for a minimum of 1 policy year and provided that all premiums due have been paid up to each relevant policy anniversary until the end of the Accumulation Period. Special Bonus will be paid at the end of the Accumulation Period. The amount of Special Bonus will be equal to 3 times of Monthly Income (for Accumulation Period from 10-19 years) or 6 times of Monthly Income (for Accumulation Period of 20 years or above). During the Income Period, Terminal Dividend and Cash Account may decrease over time after the commencement of Income Period as the Non-guaranteed Monthly Income will be withdrawn from Terminal Dividend and Cash Account. The distribution and the amount of the Annual Dividend, Special Bonus and the actual amount are all at the sole discretion of the Company. 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. Please refer to the policy provisions for details of dividends.
  4. Inflation Protector Option is not applicable to policies with premium prepayment. After each premium increment, the Guaranteed Cash Value, Monthly Income, Terminal Dividend and future Annual Dividend and Special Bonus to be distributed will then be adjusted accordingly. You can request to cancel this option or choose not to pay the additional premium due to indexation. If you do not fully pay the additional premium due to indexation, the policy will still be inforce, but the Inflation Protector Option of that policy year will be terminated.
  5. Premium Holiday is not applicable to policies with premium prepayment, or policy loan or automatic premium loan. The length of Premium Holiday for each application should be in annual unit until it reaches up to 2 years. Premium Holiday is only applicable to the basic plan and will be effective from the next Policy Anniversary, however, any rider(s) attached to this basic plan will be terminated at the same time. Rider(s) attached to this baisc plan can be re-attached after Premium Holiday. However, it may subject to our approval and the premium rate at the time of such request. During the Premium Holiday, you are not required to pay the basic plan premium, and the Guaranteed Monthly Income and Guaranteed Cash Value will remain unchanged, but Terminal Dividend and Special Bonus are non-guaranteed. During the Premium Holiday, we will not pay any Annual Dividend, however, the accumulated Annual Dividend and interest (if any) will be accumulated for interest. The Special Bonus will also be adjusted accordingly. Monthly Income Payment Commencement Date, Plan End Date, premium due date and Premium End Date will be deferred by the length of the Premium Holiday. Please refer to the policy provisions for details of Premium Holiday.
  6. Premium Payment Special Arrangement is only applicable to policy with a 9-year or 12-year Premium Payment Period. You may apply to reduce future premium payment during the premium payment term and provided that at least 5 years of premium of basic plan have already been paid. This will be considered as partial surrender and you may choose to leave the partial surrender value in the Policy and accumulated with current interest rate of 4.25% (non-guaranteed). Guaranteed Cash Value, future Monthly Income, Annual Dividend, Special Bonus and Terminal Dividend will be adjusted or recalculated after this option has been exercised. Such application is subject to the prevailing administrative rules of the Company.
  7. Upon the death of Insured, if the Policyowner (still alive) and the Insured is different person, the Beneficiary will become the new Insured. If the Policyowner and the Insured is the same person or the Policyowner died, upon the death of Insured, the Beneficiary will become the new Policyowner and new Insured of the policy, subject to the prevailing administrative rules of the Company. After this option has been exercised, all policy values and policy year will remain unchanged. However, any rider(s) attached to this basic plan will be terminated at the same time. Rider(s) attached to this basic plan can be re-attached after Policy Continuation Option has been exercised. However, it may subject to our approval and the premium rate at the time of such request. Please refer to the policy provisions for details of Policy Continuation Option.
  8. Travel Medical and Accidental Benefit only covers injury or illness of the Insured in overseas travels. The benefit reimburses oversea medical expenses up to 10% of Total Premiums Paid per policy year. Maximum up to USD 10,000 per Insured per policy. The Additional Accidental Benefit provides a lump-sum payment for death or disability of the Insured resulted from oversea accidents up to 100% of Total Premiums Paid. Maximum up to USD 200,000 per Insured per policy. If the Insured’s place of residence is in Hong Kong, Macau Special Administrative Region or the People Republic of China, we will only pay for (i) the necessary expenses; or (ii) the injury resulting in place(s) outside Hong Kong, Macau Special Administrative Region or People Republic of China that lead to travel medical benefit. Please refer to the policy provisions for details of Travel Medical and Accidental Benefit.
  9. Advance Critical Illness Benefit will only be paid once. After the claim payment, Guaranteed Cash Value, Terminal Dividend, balance of Cash Account (refers to the amount converted from the accumulated Annual Dividends and interests and Special Bonus (if any) after deducting any indebtedness (if any) at the end of the Accumulation Period) and interest (if any) and the future Monthly Incomes will be reduced accordingly. For the definitions of Cancer, Heart Attack and Stroke, please refer to the policy provisions.
  10. Terminal Illness means the Unequivocal Diagnosis by a doctor of an illness that is expected to result in the death of the Insured within 12 months. The Terminal Illness Benefit will only be paid once. The policy will be terminated after this benefit is paid.
  11. The Loss of Beloved Benefit equals to 20% of Total Premiums Paid and is subject to the maximum of USD 10,000 (per insured). This benefit will only be paid once. Immediate coverage for death resulted from an accident, but a 2-year waiting period will be applied to death resulted from illness. The child(ren) must be born or legally adopted by the Insured. The application of benefit claim is subject to the prevailing administrative rules of the Company.
  12. Worldwide Emergency Assistance Services is provided by International SOS Assistance (HK) Limited. FTLife reserves the right to change the terms and conditions of Worldwide Emergency Assistance Services without prior notice and assumes no responsibility of the services provided by third-party service providers.
  13. The above product information does not contain the full terms of the plan and the full terms can be found in the policy document.
  14. This plan may be purchased as a standalone plan without bundling with other type(s) of insurance product.

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