Protector Critical Illness Insurance Plan
An unexpected critical illness will catch you off guard and it may even develop into severe illnesses. “Protector Critical Illness Insurance Plan” (the “Plan”) provides you with critical illness protection, life protection and savings in one participating insurance plan. The Plan helps you release the burden of medical expenses.
The Plan covers up to 180 covered illnesses, including common disease conditions such as cancer, heart related diseases and stroke. It provides comprehensive protection for you and your loved ones if critical illness ever strikes. Also, the Plan provides coverage for mild diseases probably associated with common critical illnesses, thereby reducing the probability to evolve into critical illness in future.
Extensive cover for 180 diseases
The Plan safeguards your health with coverage for 180 covered illnesses, including 4 initial stage diseases, 88 special diseases as well as 88 critical illnesses. Meanwhile, 19 juvenile diseases are included.
A) Initial stage disease benefit 1,2
When it comes to critical illnesses, early treatment can be the key to a full recovery. This is especially true for mild diseases. “Protector Critical Illness Insurance Plan” provides financial support against 4 initial stage diseases. If the insured is diagnosed with any of the covered initial stage diseases before the policy anniversary when he/she reaches age 75, 6.25% of original sum assured will be paid in advance to the policyholder for treatment purpose, helping the insured stay ahead of potential illnesses before they happen.
“Initial stage disease benefit” is categorized into two groups. The maximum number of claim is one time for each group, subject to the total benefit amount of HKD100,000/USD12,500 per claim. For details of the maximum claim limit for “initial stage disease benefit”, please refer to maximum claim amount of “Benefit Schedule” and note 2.
We will reduce the current sum assured of the Plan in accordance with the total benefit payout under “initial stage disease benefit” of the Plan. We will also lower your premiums and guaranteed cash value according to the reduced current sum assured.
Current sum assured means sum assured at application or sum assured as amended by endorsement (whichever is later), less the amount of the claims paid for the “initial stage disease benefit” (if any) and “special disease benefit” (if any). Original sum assured means sum assured at application or sum assured as amended by endorsement (whichever is later).
B) Special disease benefit1,3 and extra special disease benefit for children3
If the insured is unfortunately diagnosed with any of the covered special diseases, we will pay out 20% of the original sum assured to the policyholder in advance as “special disease benefit” for each claim.
To safeguard children’s health and give better peace of mind to parents, before the policy anniversary when the insured reaches age 18, if the insured is unfortunately diagnosed as suffering from any one of the special diseases which is applicable to insured who is diagnosed before the policy anniversary which the insured reaches the age of 18 (13 special diseases in total), an extra amount of 20% of the original sum assured will be paid to the policyholder as “extra special disease benefit for children” to strengthen the support for children.
The maximum number of claims payable to each special disease under the “special disease benefit” and “extra special disease benefit for children”:
● Carcinoma-in-situ4 can be claimed up to 2 times
● The remaining special diseases can each be claimed once
The “special disease benefit” or “extra special disease benefit for children” is subject to a maximum amount for each special disease of HKD 400,000 / USD 50,000 for each insured. For details of the maximum claim limit for “special disease benefit” and “extra special disease benefit for children”, please refer to maximum claim amount of “Benefit Schedule” and note 3.
We will reduce the current sum assured of the Plan in accordance with the total benefit payout under “special disease benefit” of the Plan. We will also lower your premiums and guaranteed cash value according to the reduced current sum assured. On the other hand, the current sum assured, premiums, guaranteed cash value and terminal dividend (if any) of the Plan shall not be affected after “extra special disease benefit for children” is paid.
C) Critical illness benefit
The Plan provides protection for critical illnesses. If the insured is unfortunately diagnosed with any one of the covered critical illnesses –including cancer, heart attack and stroke which are common critical illnesses, we will pay “critical illness benefit” to the policyholder, which is equivalent to the sum of 100% of the original sum assured and the face value of terminal dividend5 (if any), less “initial stage disease benefit” and “special disease benefit” paid and indebtedness (if any).
The policy will be terminated after we pay the “critical illness benefit”.
For the details of the covered initial stage diseases, special diseases and critical illnesses, please refer to the “Covered Illnesses Table”.
Life protection provides peace of mind to your loved ones
A) Death benefit
In case the insured unfortunately passes away while the policy is in force, we will pay the beneficiary a “death benefit” which is equivalent to the sum of 100% of original sum assured and the face value of terminal dividend (if any), less “initial stage disease benefit” and “special disease benefit” paid and indebtedness (if any). The policy will be terminated after we pay the “death benefit”.
B) Accidental death benefit6
The Plan also provides “accidental death benefit”. Before the policy anniversary when the insured reaches age 66, if the insured suffers from accidental injury caused by an accident, and dies from the accidental injury within 180 days from the date of the occurrence of the accidental injury (both dates inclusive), the beneficiary will receive an extra 20% of the original sum assured or HKD500,000/USD62,500,whichever is lower, in addition to the “death benefit”. The policy shall then terminate.
C)Sudden death benefit6
The Plan also provides “sudden death benefit”. In the event the insured unfortunately passed away before the policy anniversary when he/she reaches age 66 and such death fulfilled the definition of sudden death7 under the Plan, the beneficiary will receive an extra 20% of the original sum assured or HKD500,000/USD62,500, whichever is lower, in addition to the “death benefit”. The policy shall then terminate.
For details of the maximum claim limit for “accidental death benefit” and “sudden death benefit”, please refer to maximum claim amount of “Benefit Schedule” and note 6.
Premium waiver benefit8
To ease the financial burden, the Plan provides “premium waiver for special disease benefit”. If the insured is unfortunately diagnosed as suffering from any one of the special diseases, and the Company has paid for the “extra special disease benefit for children” or “special disease benefit”, the Company will waive the premium of the Plan since the 1st policy monthiversary after the date of diagnosis of the insured until the occurrence of the certain events stated in policy provisions. For details of the maximum claim limit for “premium waiver for special disease benefit”, please refer to maximum claim amount of “Benefit Schedule” and note 8.
For the details of the benefits, please refer to the “Benefit Schedule”.
Savings elements offer potential returns
“Protector Critical Illness Insurance Plan” is a participating plan, offering you comprehensive critical illness coverage and death benefit, as well as potential returns with guaranteed cash value and non-guaranteed terminal dividend5 (if any), so that you can enjoy both protection and potential wealth accumulation.
Protector Critical Illness Insurance Plan
| Premium payment term and issue age |
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| Benefit term | Up to age 100 of the insured (except the benefits listed below. Please refer to “Benefit Schedule” for details.) Initial stage disease benefit: Up to age 75 of the insured Extra special disease benefit for children: Up to age 18 of the insured Accidental death benefit and sudden death benefit: Up to age 66 of the insured Premium waiver for special disease benefit: Till premium expiry date |
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| Premium Payment mode 10 | Annual, semi-annual, quarterly, monthly, annual and premium prepayment (applicable to 10 years’ premium payment term)11 | ||||||||
| Policy currency | HKD/ USD | ||||||||
| Minimum sum assured | HKD200,000 / USD25,000 |
Notes :
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Initial stage disease benefit and special disease benefit are advance payments. The current sum assured of this Plan shall be reduced by the amount of the claims paid by the Company for the initial stage disease benefit and special disease benefit, and the premiums and guaranteed cash value of this Plan shall also be reduced proportionally, but the non-guaranteed terminal dividend (if any) will not be affected. For subsequent claims for critical illness benefit or death benefit under this Plan, any initial stage disease benefit and/or special disease benefit paid shall be reduced from the benefit amount payable.
The maximum claim amount of advance payments payable under this Plan is 100% of original sum assured of this Plan. If the total amount of claims paid for advance payments has reached 100% of the original sum assured of this Plan, the Company will pay the face value of non-guaranteed terminal dividend (if any) at the same time. Under this situation, after the Company has paid the initial stage disease benefit (if any) or special disease benefit (if any) and the face value of terminal dividend (if any), the current sum assured, premiums and guaranteed cash value of this Plan shall be reduced to zero. The policy shall then terminate.
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Initial stage disease benefit is divided into 2 groups. The maximum number of claims payable is 1 time for each group of the initial stage disease and 2 times for the initial stage disease benefit under this Plan, but is subject to the limitations as specified in benefit provisions of this Plan. Each claim paid for the initial stage disease benefit is subject to a maximum amount of USD 12,500 (USD policy) / HKD 100,000(HKD policy) or amount equivalent in other currencies. For the avoidance of doubt, if the insured is covered under other policies issued by the Company, the total amount of payment by the Company for each initial stage disease under the initial stage disease benefit (whether under this Plan or otherwise) shall not exceed the aggregate claim limit as stated above in this paragraph.
Initial stage disease benefit is subject to a maximum amount of USD 25,000(USD policy) / HKD 200,000(HKD policy) or amount equivalent in other currencies for each insured. For the avoidance of doubt, if the insured is covered under other policies issued by the Company, the total amount of payment by the Company under the initial stage disease benefit (whether under this Plan or otherwise) shall not exceed the aggregate claim limit as stated above in this paragraph.
If the insured is diagnosed as suffering from any one of the special diseases listed under group 1 or group 2 and the Company has paid special disease benefit for such special disease, the Company will not pay for any initial stage diseases listed under group 1. The coverage of initial stage disease benefit shall then be limited to the initial stage diseases listed under group 2. If the insured is diagnosed as suffering from any one of the special diseases listed under group 3 and the Company has paid special disease benefit for such special disease, the Company will not pay for any initial stage diseases listed under group 2. The coverage of initial stage disease benefit shall then be limited to the initial stage diseases listed under group 1.
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The maximum number of claims payable to the same special disease is 1 time whether payment by the Company is made under the special disease benefit and extra special disease benefit for children, except that the maximum number of claims payable for carcinoma-in-situ is 2 times. The total number of claims payable under special disease benefit is not limited, whereas the maximum number of claims payable to extra special disease benefit for children is 1 time, but is subject to the maximum claim limitation as specified in benefit provisions of this Plan. The special disease benefit or extra special disease benefit for children is subject to a maximum amount for each special disease of USD 50,000(USD policy) / HKD400,000(HKD policy) or amount equivalent in other currencies for each insured. For the avoidance of doubt, if the insured is covered under other policies issued by the Company, the total amount of payment by the Company for the same special disease, whether paid under special disease benefit or extra special disease benefit for children and whether paid under this Plan or otherwise, shall not exceed the maximum claim limit as stated above in this paragraph.
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The maximum number of claims payable to carcinoma-in-situ is 2 times. A second claim is payable only if the carcinoma-in-situ is in an organ different from that organ where the first claim of carcinoma-in-situ has been paid. Since breasts, fallopian tubes, lungs, ovaries and testicles consist of both left and right parts, the carcinoma-in-situ in both left and right parts of the organs mentioned above will be considered as in a same organ.
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Terminal dividend is a one-off dividend and is non-guaranteed. Amount of terminal dividend shown in proposal illustration is just an indicative figure. Declared terminal dividend is not perpetually attached to the policy. It may be reduced or increased at subsequent declarations. Its actual amount will only be determined when it becomes payable. The actual amount may be lower or higher than the projected figure. Under some circumstances, actual amount of terminal dividend may be zero. The amount of terminal dividend is affected by various factors including but not limited to the performance of the underlying investments, so the amount is relatively volatile and will move up and down over time. China Life (Overseas) reserves the right to revise the terminal dividend from time to time. Past record is not necessarily indicative of future result. For more information, please refer to clause 7 and clause 8 of the product brochure under “Important Information” and “Non-guaranteed benefit” risk.
Starting from the 10th policy anniversary, terminal dividend (if any) shall be paid upon the occurrence of the earliest of the following conditions:
a.when the Company pays the death benefit;
b.when the total amount of claims paid by the Company for critical illness benefit, special disease benefit and/or initial stage disease benefit has reached 100% of the original sum assured of this Plan;
c.when the policy is surrendered; or
d.when the policy reaches the policy maturity date.
The amount of the cash value and face value of terminal dividend may be increased or decreased when it is declared in future, the amount of cash value of terminal dividend shall be equal to or less than the face value of terminal dividend. The face value of terminal dividend (if any) will be payable when the Company pays the death benefit or the total amount of claims paid by the Company for critical illness benefit, special disease benefit and/or initial stage disease benefit has reached 100% of the original sum assured of this Plan. The Company will pay the cash value of terminal dividend (if any) upon the policy is surrendered or the policy maturity date. Under certain circumstances, the terminal dividend may be zero. -
Total amount payable of accidental death benefit is subject to USD125,000(USD policy) / HKD1,000,000(HKD policy) or amount equivalent in other currencies for each insured. Total amount payable of sudden death benefit is subject to USD62,500(USD policy) / HKD500,000(HKD policy) or amount equivalent in other currencies for each insured. For the avoidance of doubt, if the insured is covered under other policies issued by the Company, the total amount of payment by the Company for the death of the insured due to accident or sudden death (whether under this Plan or otherwise) shall not exceed the aggregate claim limit as stated above in this paragraph.
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Sudden death means the sudden death of a person due to underlying disease, dysfunction, or other reasons; that is unexpected, unknown and undiagnosed at the time of death. For the determination of sudden death, a legal document from a judicial authority is required and shall prevail. Such legal document must identify and state the primary cause of death specifically as “sudden” in nature; and be free of any antecedent and/or contributing causes. In the event that the legal document does not state the cause of death as being “sudden” , for the purpose of this benefit, we will consider the death to have been sudden if the stated primary cause of death is exclusively any one of the following conditions: stroke following vascular rupture or cerebral thrombosis without a history of causation, a myocardial infarction with no causative antecedents, acute pancreatitis, infectious or toxic, non-alcoholic, with no causative antecedents, aortic dissection, pulmonary embolism, fulminant viral hepatitis, acute infectious peritonitis, acute infectious myocarditis, infectious encephalitis, i.e. an acute infectious disease that causes brain infection or infectious meningitis, i.e. an acute infectious disease that causes meningeal infection.
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While the policy is in force and before the premium expiry date of this Plan, if the insured is unfortunately diagnosed as suffering from any one of the special diseases, and the Company has paid for the extra special disease benefit for children or special disease benefit for such special disease, the Company will also pay the premium waiver for special disease benefit which means that, before the premium expiry date, the Company will waive the premium of this Plan since the 1st policy monthiversary after the date of diagnosis of the special disease of the insured (or the date of diagnosis if the date of diagnosis of the insured and the policy monthiversary falls on the same day) until the occurrence of the following event (whichever is earlier):
- the total amount of premium that has been waived by the Company under the premium waiver for special disease benefit of this Plan for the same special disease has reached a maximum amount of USD12,500 (USD policy) / HKD 100,000 (HKD policy) or amount equivalent in other currencies for each insured; or
- the remaining amount of the premium that may still be waived by the Company under the premium waiver for special disease benefit of this Plan for the same special disease (which is equal to the maximum claim limit as stated above minus the total amount of premium that has been waived by the Company) is not sufficient to pay the premium due.
For the avoidance of doubt, the premium waiver for special disease benefit is not applicable to the event that the premium due exceeds the maximum/total amount of premium that may be waived by the Company under premium waiver for special disease benefit.
If payment of the premium of this Plan needs to be resumed, the Company will issue a payment notice to the policyholder and payment of the premium will be executed according to “payment mode” of the policy information page or payment mode (i.e. monthly, quarterly, semi-annual or annual) as amended by endorsement from time to time.
Under the premium waiver for special disease benefit of each policy, the Company will only waive the premium of this Plan for 1 special disease. In the event that carcinoma-in-situ is claimed for two times for different organs, the Company will only waive the premium of the basic plan for carcinoma-in-situ of one organ. For the avoidance of doubt, if the insured is covered under other policies issued by the Company, the total amount of premium that may be waived by the Company under premium waiver for special disease benefit for the same special disease (whether under this Plan or otherwise) shall not exceed the maximum amount as stated above.
During the procedure of the application for the premium waiver for special disease benefit, the policyholder will still have to pay the premium due until the application for the premium waiver for special disease benefit is approved by the Company. All premiums due and paid (excluding any interest) during the period of waiving any premium under premium waiver for special disease benefit will be refunded to the policyholder after the application of premium waiver for special disease benefit is approved by the Company.
For the avoidance of doubt, the premium waiver for special disease benefit under this Plan will terminate upon the occurrence of any of the following events (whichever is the earliest):
- the total amount of premium that has been waived by the Company under the premium waiver for special disease benefit of this Plan for the same special disease has reached a maximum amount of USD12,500(USD policy) / HKD 100,000(HKD policy) or amount equivalent in other currencies;
- the premium expiry date of this Plan;
- the remaining amount of the premium that may still be waived by the Company under the “premium waiver for special disease benefit” of this plan for the same special disease (which is equal to the maximum limit as stated above minus the total amount of premium that has been waived by the Company) is not sufficient to pay the premium due; or
- the date of termination of the Plan for whatever reason.
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In addition to premiums, you have to pay policy fee of HKD200/USD25 (subject to policy currency) per year during the premium payment term.
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If the required renewal premium is paid by you within the grace period, the policy shall continue to be in force. For details, please refer to the policy provisions issued by China Life (Overseas). If the policy is lapsed or surrendered early, the policy cash value received by you may be considerably less than the total amount of the premiums paid.
- If you choose the annual and premium prepayment option, you can withdraw the unused prepaid premium (including interest, if any) at one time. China Life (Overseas) will charge 2% of the withdrawal amount, at a minimum amount of HKD100/USD12.5. You can withdraw the unused prepaid premium once only. The interest rate of prepaid premium is not guaranteed.
Important Information:
You have the right to purchase the medical insurance product as a standalone plan instead of bundling with other type(s) of insurance product.
Disclaimer
Important Information:
Please refer to the policy documents for the complete definitions of the capitalised terms, as well as all the terms and conditions of this product. You are reminded to review all of the relevant product materials provided to you and to seek independent professional advice if necessary.
- The policy is underwritten by China Life Insurance (Overseas) Company Limited (“China Life (Overseas)” or "us / we / our"). China Life (Overseas) is responsible for the features, underwriting and benefit payments under the policy. You should fully understand all of the risks involved in this product and consider whether this product is affordable and suitable to you before making your application.
- China Life (Overseas) shall make the final decisions on the underwriting and claims. We shall rely on your submitted information to assess whether to accept or decline your application, and shall refund any Premium paid without interest for declined cases.
- Exclusions - The accidental death benefit under this policy shall not cover any claims if the insured is involved in any of the following activities or the consequences directly or indirectly caused by any of the following events occur in respect of the insured: (a) war, act of hostility (whether war declared or not), civil war, revolution or any military actions; (b) rebellion, civil commotion, riot, strike or activities of terrorism; (c) contamination resulting from nuclear weapons, ionizing radiation, nuclear fuel or waste produced from the combustion of nuclear fuel (the said nuclear combustion shall include any self-sustaining process of nuclear fission); (d) during war, act of hostility (whether war declared or not), any military actions or repression of rebellion, the insured is engaging in or taking part in military services; (e) directly or indirectly caused by the insured engaging in aviation, except as a passenger on an aircraft of a commercial airline on a scheduled route; (f) self-inflicted injuries or suicide (whether sane or not) by or attempted by the insured (whether felony or not); (g) childbirth, pregnancy, miscarriage or abortion, even if it is accelerated or induced by an accident ; (h) surgery operated on the insured and induced by disease, infected disease or incident that is not caused by an accident ; (i) taking of poison or inhaling poisonous gas or poisonous mist (whether voluntary or not); except accidental inhaling by the insured in a fire ; (j) the insured as a professional athlete participating in sports or earning income or remuneration through the sports; (k) participating in hunting, mountaineering, motor racing, horse racing, ice-skiing, skiing, scuba-diving, parachuting, hang-gliding, boxing or any other competitions or performances; (l) while the Insured is on duty as a professional driver and is entering, driving, operating, servicing, riding in or departing from any land vehicle or conveyance outside the territorial limits of Hong Kong and Macau; (m) the insured is assaulted or murdered during rebellion, civil commotion, strikes or when making an arrest while the Insured is employed as a full-time or part-time police officer or cadet officer, or is an officer or a member of the Correctional Services Department; or (n) the Insured is assaulted or murdered during rebellion, civil commotion or strikes while the Insured is employed as a fireman, or is on duty as a fireman and is engaging in firefighting or activities for protecting people and property in a fire.
In addition, the information stated in this product brochure is for reference only. Please refer to the general provisions for the exact terms and conditions and limitations such as incontestability, suicide and fraud etc. or all exclusions. - Non-payment of premium / automatic premium loan - You should pay premium(s) on time according to the selected premium payment schedule. If the due premium remains unpaid upon the expiry of the grace period, an automatic premium loan will be taken out against the policy to settle the unpaid premium automatically. All policy loans are interest-bearing and calculated at a rate (as stated on our corporate website www.chinalife.com.hk) to be declared by us from time to time. Interest accrued shall become a part of the indebtedness. When the loan balance is equal to or exceeds the guaranteed cash value of the basic plan of the policy, the policy will be lapsed and you will lose the related insurance coverage and suffer a financial loss. Under these circumstances, the surrender value of the policy will be deducted to repay the outstanding loan balance (including interest), and the remaining value will be refunded to you.
- Dividend and / or Crediting Interest Philosophy - This is a participating and/or providing interest on accumulation insurance plan. Premiums received from the policies will be invested to a variety of assets according to China Life (Overseas)’s investment strategy. The surplus from the invested assets will be shared with policyholder through declared dividends and/or interest rate on accumulation in accordance with the relevant clause in the benefit provision. China Life (Overseas) will ensure a fair sharing of profits among different groups of Policyholders and also between Policyholders and China Life (Overseas). China Life (Overseas) will review and determine the dividend and / or interest rate on accumulation at least once a year, the current projection on dividend and/or interest rate on accumulation are not guaranteed and subject to change with the entire performance of the relevant policies and the factor including but not limited to the investment returns, claims experience, persistency, past experience and future prospect. In addition, China Life (Overseas) will consider both past and future outlooks of all factors including but not limited to:
Claims – including the costs of providing death benefit as well as other benefits under the product(s).
Investment return – including the interest income, dividend income, outlook of interest rates and any changes in the market value of the product’s backing asset.
Persistency – including Policy lapse and partial surrender experience.
Note: The dividend or interest rate history is not an indicator of the future performance of this product. - Investment philosophy, policy and strategy - China Life (Overseas) aims to strive for minimizing volatility of the investment return and provides stable return as our investment philosophy. Assets are invested in bonds and other fixed income instruments, such as government and corporate bonds and other fixed income instruments to support the guaranteed financial obligation. To enhance the performance of the investment portfolio, China Life (Overseas) invests in equity-type investments and other investment instruments such as mutual funds and direct / indirect investment in properties or commercial institutions.
The investment portfolio will be diversified across different geographic regions and / or industries. Investment strategy will be subject to change depending on the market conditions and the economic outlook. China Life (Overseas) will inform Policyholder the relevant changes in dividend and/or interest rate on accumulation and the impact to the policies when there is change in the investment strategy.
China Life (Overseas)’s current investment strategy on participating and / or providing interest on accumulation plans are as follow:
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Asset type |
Target asset mix (%) |
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Bonds and other fixed income instruments |
30% to 90% |
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Equity-type investment and other investments |
10% to 70% |
Please refer to China Life (Overseas)’s website www.chinalife.com.hk/products/dividendandinvestment for dividend history, dividend and / or crediting interest philosophy, investment philosophy, policy and strategy, as well as the fulfillment ratio of China Life (Overseas).
- Cooling-off right - You have the right to cancel the policy within the cooling-off period and obtain a refund of any premiums paid by giving written notice to us provided that you have not made any claims under the policy. Such notice must be signed by you and submitted to China Life (Overseas) at 22/F, CLI Building, 313 Hennessy Road, Wan Chai, Hong Kong within 21 days after the delivery of the policy or issue of a notice to you or your representative informing you that the policy is available, whichever is earlier.
What are the key product risks?
Credit risk:
This product is a life insurance policy issued by China Life (Overseas). Any premium paid will become part of our assets and our financial strength will affect our ability to meet our contractual obligations to you under the policy. Therefore this product is subject to our credit risk.:
The savings component of the Plan is subject to risks and possible losses. Should you surrender the policy early, you may receive an amount considerably less than the total amount of premiums paid.
Exchange rate and currency risks:
Any policy with foreign currencies involves risks, such as potential changes in political or economic conditions that may substantially affect the price or liquidity of a currency. The fluctuations in exchange rates may also cause financial losses to you during currency conversions. You should consider the potential currency and exchange rate risks before deciding which Policy currency you should take.
Inflation risk:
The cost of living in the future may be higher than expected due to the effects of inflation. Therefore, your current planned benefits and/or returns may be insufficient to meet your future needs even if we fulfill all of our contractual terms and obligations.
Liquidity and withdrawal risk:
You are obliged to hold the policy and pay the Premium for the designated period of time. If you terminate the policy prior to the policy maturity date, you will suffer a financial loss. In case you make partial withdrawals from the Policy, your account value, death benefit and other Policy values will be reduced, and you may need to pay the relevant handling fee or charges (if any).
Non-guaranteed benefit:
This Plan consists of non-guaranteed benefits and/or returns. The actual amounts of benefits and/or returns in the future may be different from the benefits and/or returns which project on the product materials. The product materials are for illustrative purposes only.
Policy Termination:
The policy will be terminated if (a) the policy is lapsed or surrendered; or (b) the company has paid the policy maturity benefit; (c) the company has paid the death benefit in full, (d) the due premium has not been paid within 31 days after the premium due date, and the policy has no remaining guaranteed cash value, or (e) the indebtedness of the policy is equal to or exceeds the guaranteed cash value of the policy.
Disclaimer:
The information and descriptions contained herein are not intended to be complete descriptions of all terms, exclusions and conditions applicable to the products and services, but are provided solely for general informational purposes. For complete details please refer to the actual policy or the relevant product or services agreement.
