You can choose from these available Death Benefit Settlement Options:
A lump sum payment
Regular installment payment
Increasing installment payment
Lump sum + installment payment
Age 35 / Teacher / Non-smoking
Married with a son (Age 3)
Age 45 / Accountant / Non-smoking
Single and supporting her parents (Age around 70)
Premium payment period
Need to exercise Policy Reverse Mortgage Function to receive annuity?
Premium Refund Flyer
a. “First-in-market” item is concluded based on the same type of product (life insurance plan with calculation of Death Benefit according to sum insured) of major life insurance companies in Hong Kong as of 10 September 2020.
b. Severe Dementia means the Insured is diagnosed by a doctor as suffering from an illness caused by Alzheimer's Disease or other Dementia, and has fulfilled the prescribed conditions. The Plan will be terminated once the Severe Dementia Benefit is paid.
c. “On Your Mind” will provide Extra Death Benefit equals to the designated percentage of the sum insured. The designated percentage of the sum insured is 50% in the first 11 policy years, and such percentage will be decreased by 5% at each subsequent policy year (i.e. from the 12th to the 21st policy year).
d. It is concluded based on the interest rate of policy loan and Policy Reverse Mortgage Loan of FTLife as of 10 September 2020. This rate is not guaranteed and will be determined by the Company from time to time.
e. The Company is currently referencing the prevailing Prime Rate published by the Hongkong and Shanghai Banking Corporation Limited and such designated bank may be changed from time to time by the Company without any notice to the Owner.
f. The aggregate amount of the Policy Reverse Mortgage Loan includes accumulated Annuity Payment received, Policy Reverse Mortgage Loan Interest, annual mortgage charges, loan charges and all interest receivable under these charges less repayment (if any).
g. This rate is determined according to various factors including but not limited to the ratio of total amount of Annuity Payment over total premiums paid (exclude extra premium loading (if any)), the Insured’s attained age when the first Annuity Payment is paid, annuity period etc). This is the current rate which is for reference only and is not guaranteed. Actual rate will be determined, fixed and guaranteed at the time the Policy Reverse Mortgage Loan is obtained. If the Insured dies or is diagnosed with Severe Dementia / Terminal Illness during the Annual Mortgage Charge Period, we will refund 50% of the aggregate amount of annual mortgage charges paid to the Owner.
h. The above product features are subject to the product terms and conditions, please refer to the product brochure and policy provision of “On Your Mind” for more details.
The above information is for reference only and shall not be constituted as an offer, invitation to sell and a recommendation of whatsoever kind to any person or groups as the basis for any insurance contracts (or investment or other decision). For terms and conditions of “On Your Mind, please refer to the policy provision for details, and obtain professional advice before making a decision.
The above summary, result of calculation and information is intended to be issued in Hong Kong only and shall not be construed as an offer to sell, or solicitation to buy or provision of any product of FTLife Insurance Company Limited outside Hong Kong to any person. FTLife Insurance Company Limited hereby declares that it has no intention to offer to sell, to solicit to buy or to provide any of its product in any jurisdiction other than Hong Kong in which such offer to sell or solicitation to buy or provision of any product of FTLife Insurance Company Limited is illegal under the laws of that jurisdiction. In case of any disputes, FTLife Insurance Company Limited reserves the rights to make the final and conclusive decision.