Until the end of the Annuity PeriodIssue Age
Age 20 – Age 68You can buy this from
Your Financial Consultant
Prosperous Deferred Annuity Plan 2 can fit easily into your retirement plan with options for Premium Payment Period and Accumulation Period (please refer to At-a-Glance Table for details).
The Annuity Period begins immediately when the Accumulation Period is over. Annuitant can receive Guaranteed Monthly Annuity Payment1 and Non-guaranteed Monthly Annuity Payment1 (if any) until the end of the Annuity Period. Guaranteed Monthly Annuity Payment1 will not be affected by market volatility, allowing Annuitant to stretch out and find the potential retired life as planned.
In times of financial abundance, you can also choose to keep Monthly Annuity Payment1 in your policy to accumulate with interest1, the surrender value will be paid to you upon surrender of your policy. You can change your payment option anytime without any charges.
Prosperous Deferred Annuity Plan 2 is certified by the Insurance Authority as a Qualifying Deferred Annuity Policy (“QDAP”). Hong Kong tax payer can apply for tax deductions of up to HKD 60,0002 as a single tax payer or HKD 120,0002 as a taxpaying couple per year which helps you to plan ahead for retirement with more affordable premiums through tax deduction2.
|Per single tax payer||For taxpaying couple|
|Maximum tax deductible limit||HKD 60,000||HKD 120,000|
|Applicable Tax Rate||17%||17%|
|Maximum Tax Saving Amount||HKD 10,200||HKD 20,400|
*The above example assumes that the net taxable income reaches the highest rate (17%) of the progressive tax rates and a tax payer paying HKD 60,000 for qualifying annuity premiums with no MPF tax deductible voluntary contributions during the relevant year of assessment. A taxpaying couple can also claim a total deduction of HKD 120,000 provided that the deductions claimed by each taxpayer do not exceed the individual limit of HKD 60,000 per year.
In addition to the Guaranteed Cash Value, we will also provide a lump-sum payment of non-guaranteed Terminal Dividend3 (if any) upon policy termination (except maturity) and partial surrender to further boost your wealth.
The range of Internal Rate of Return6 (i.e. IRR) at maturity, assuming the Monthly Annuity Payments1 are received monthly by the Annuitant who is a 45 years old non-smoking male at application, is shown in the table below:
|Premium Payment Period||Accumulation Period||Annuity Period||Range of Guaranteed IRR at Maturity||Range of Total IRR6 at Maturity|
|5 years||10 years||20 years||0.95% - 1.36%||3.37% - 3.75%|
|5 years||20 years||20 years||1.40% - 1.66%||4.06% - 4.29%|
|5 years||30 years||20 years||2.21% - 2.39%||4.16% - 4.32%|
|9 years||10 years||20 years||0.60% - 1.08%||3.28% - 3.70%|
|9 years||20 years||20 years||1.17% - 1.45%||4.03% - 4.27%|
|9 years||30 years||20 years||2.08% - 2.28%||4.14% - 4.31%|
The calculation of guaranteed IRR at Maturity includes Guaranteed Monthly Annuity Payment1, while the calculation of total IRR6 at Maturity includes Guaranteed Monthly Annuity Payment1 and Non-guaranteed Monthly Annuity Payment1.
You can give yourself over to new challenges and adventures without worries. In case of death of the Annuitant resulting from an injury sustained overseas during the Annuity Period, in addition to the Death Benefit, we will pay a lump sum Travel Accidental Benefit4 to the Beneficiary which equals to 100% of total premiums paid7. What’s more, an extra lump-sum amount of Travel Accidental Benefit4 will be payable to the Policy Holder upon disability of the Annuitant resulting in oversea travels during the Annuity Period according to the items listed below:
|Benefit Item||Protection Amount4|
|1||Death||100% of total premiums paid7|
|2||Loss of two Limbs or Loss of Sight of both eyes|
|3||Loss of one Limb and Loss of Sight of one eye|
|4||Permanent total loss of Speech and Hearing|
|6||Loss of one Limb or Loss of Sight of one eye||50% of total premiums paid7|
|7||Permanent total Loss of Speech|
|8||Permanent total Loss of Hearing|
This benefit is subject to certain exclusions, please refer to the Disclosure of Important Information section and policy provisions for details of “Travel Accidental Benefit”.
During the Annuity Period, if the Annuitant is diagnosed with Terminal Illness5, a lump-sum Death Benefit will be paid in advance, and additional installment payments which equals to the last Monthly Annuity Payment1 (including both guaranteed and non-guaranteed portions) payable immediately preceding the date of diagnosis of Terminal Illness5 will be paid to the Policy Holder continually in the next 12 months or until the death of the Annuitant (whichever is earlier) to help mitigate the financial burden during such difficult time.
In the unfortunate event of the Annuitant’s death, Death Benefit equivalent to 105% of the total premiums paid7 will be paid in lump sum to your beloved one(s) which grants you a peace of mind. Please refer to the At-a-Glance Table for more details about Death Benefit.
Apart from lump sum Death Benefit, you can choose in advance to let your beloved one continue receiving the unpaid Monthly Annuity Payment1 from the Annuitant’s death (the death should occur during the Annuity Period) until the end of the Annuity Period. Please refer to the At-a-Glance Table for more details about Monthly Annuity Payment Continuity.
Prosperous Deferred Annuity Plan 2 requires no medical check-up which simplifies the application process for you to start your retirement planning at the earliest stage possible.
Once enrolled in Prosperous Deferred Annuity Plan 2, 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.
- Monthly Annuity Payment includes the Guaranteed Monthly Annuity Payment and Non-guaranteed Monthly Annuity Payment (if any). Monthly Annuity Payment will be payable upon completion of each policy month after the commencement of the Annuity Period until the end of the Annuity Period. You may choose to leave the Monthly Annuity Payment in the policy and accumulated at a non-guaranteed current interest rate. Non-guaranteed Monthly Annuity Payment can be adjusted on each Policy Monthly Anniversary and the actual amount during the Annuity Period may vary.
- HKD 60,000 is the maximum tax deductions per tax payer per year for qualifying annuity premiums and MPF tax deductible voluntary contributions. Whether tax deduction is allowable for all or any part of qualifying annuity premiums paid under QDAP shall be subject to your individual circumstances (as tax payer), the provisions of the Inland Revenue Ordinance (Cap. 112 of the Laws of the Hong Kong SAR) and the Inland Revenue Department's discretion. For details on tax deductions, please refer to the “Tax implication of certification” section under “Disclosure of Important Information”, visit Inland Revenue Department (IRD) of HKSAR website and consult your tax and accounting advisors for tax advice.
- Terminal Dividend is non-guaranteed and will be paid upon policy termination (except maturity) and partial surrender. During the Annuity Period, Terminal Dividend may change over time due to factors including but not limited to the payment of the Non-Guaranteed Monthly Annuity Payment. The distribution 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 Terminal Dividend.
- Travel Accidental Benefit only covers injury of the Annuitant occurred during the Annuity Period in oversea travels. Travel Accidental Benefit provides a lump-sum payment for death (payable to the Beneficiary) or disability (payable to the Policy Holder) of the Annuitant resulted from oversea accidents up to 100% of total premiums paid, and up to USD 200,000 per Annuitant and per policy. If the Annuitant’s place of residence is in Hong Kong, Macau Special Administrative Region or the People Republic of China, we will only pay for the injury resulting in place(s) other than Hong Kong, Macau Special Administrative Region or the People Republic of China that lead to Travel Accidental Benefit. Please refer to the policy provisions for details of Travel Accidental Benefit.
- Terminal Illness means the Unequivocal Diagnosis by a doctor of an illness that is expected to result in the death of the Annuitant within 12 months. The Terminal Illness Benefit will only be paid once. We will cease to pay any claim including the Death Benefit once we approve the Terminal Illness Benefit and the policy will be terminated after this benefit is paid.
- The total IRR illustrated is calculated on a best estimate basis which is based on the current dividend scale and is neither indicative of future performance nor guaranteed. Past performance or current performance of our business should not be interpreted as a guide for future performance. The actual Non-guaranteed Monthly Annuity Payment and non-guaranteed Terminal Dividend payable throughout the duration of the policy may vary at the sole discretion of the Company, which may be more or less favourable than those illustrated. The value illustrated assumes that no cash withdrawal or policy loans are taken throughout the term of the policy and that all premiums are paid in full when due.
- Total premiums paid refers to the total amount of premium(s) due and paid. For policy with premium prepayment, the prepaid premium in premium deposit account will not be calculated in the total premiums paid.
- Worldwide Emergency Assistance Services is provided by the third party service provider. We reserve the right to change the terms and conditions of Worldwide Emergency Assistance Services without prior notice and will not be liable for any services provided by the third party service provider.
- The above product information does not contain the full terms of the plan and the full terms can be found in the policy document.
- This plan may be purchased as a standalone plan without bundling with other type(s) of insurance product.
The above product summary is for reference only. For more details on the product, please refer to the policy terms and benefits.
If you are interested in this product, please contact your insurance consultant.