Important Information

Fulfillment Ratios of Dividends/Bonuses

The following are Fulfillment Ratios of non-guaranteed Annual Dividends, Reversionary Bonuses, Terminal Dividends, Terminal Bonuses and policy value for products which have new policies issued in the previous five calendar years of reporting year 2022. The ratios are calculated up to the respective policy anniversary in the current reporting year.

The fulfillment ratio for annual dividends is calculated as the ratio of aggregate actual accumulated non-guaranteed annual dividends at their respective policy anniversary in year 2022 against the respective illustration amounts at the point of sale for all relevant policies that were in-force as of the end of year 2022.

The fulfillment ratio for reversionary bonuses is calculated as the ratio of aggregate actual accumulated non-guaranteed reversionary bonuses at their respective policy anniversary in relevant year against the respective illustrated amounts at the point of sale for all relevant policies that were in-force as of the end of year 2022 and for all relevant policies actually terminated in 2022. For avoidance of doubt, cash value of reversionary bonuses is used in the calculation.

The fulfillment ratio for terminal dividends/bonuses is calculated as the ratio of aggregate payout of terminal dividends/bonuses against the illustrated amounts at the point of sale for all relevant policies actually terminated in 2022. Similarly, cash value of terminal bonuses is used in the calculation.

The fulfillment ratio for policy value is calculated as the ratio of aggregate payout of policy value against the illustrated amounts at the point of sale for all relevant policies actually terminated in 2022.

For the purpose of calculation of Fulfillment Ratios, it is assumed that:

• All annual dividends and reversionary bonuses (if any) declared are left with the company for interest accumulation since policy issuance based on the relevant actual interest rates.
• All guaranteed monthly incomes (if any) and non-guaranteed monthly incomes (if any) paid are left with the Company for interest accumulation since policy issuance based on the relevant actual interest rates.
• There is no change in Sum Insured / Unit of the policy since policy issuance.

1. No relevant policy is in-force with the respective policy year as of current reporting year.
2. The amount of accumulated annual dividends/reversionary bonuses and interest illustrated at the point of sale up to the respective policy year as of current reporting year is zero for the relevant policies.
3. No terminal dividend/bonuses or policy value was paid in reporting year:
   
   
   • No terminal dividends/bonuses or policy value was entitled by the policy upon the termination of the policy in the respective policy year; and/or
   • No relevant policy was actually terminated in the respective policy year.