Whether you are striving to achieve your financial goals or preparing for a better future, a flexible financial solution with coupon income can cater for your needs while enabling you to live your aspired lifestyle. BOC Group Life Assurance Company Limited ("BOC Life") offers the "Plenteous Life Coupon Plan" ("the Plan"), providing Guaranteed Cash Coupons with a total amount equivalent to 120% of the Sum Insured during the period while the policy is in force and 2 options of premium payment period. In addition to the life protection coverage until the age of 100, the Plan also provides various types of supplementary riders to better meet both your financial and protection needs.
The Plan offers 2 options of premium payment period of 4 years or 8 years, allowing you to have a better financial planning. Once the premium is determined, no change will be applied over the term of your payment period.
Guaranteed Cash Coupons will be paid on the 4th and the 8th policy anniversaries respectively under policies with premium payment period of 4 years (2 times in total) while for policies with premium payment period of 8 years, Guaranteed Cash Coupons will be paid on the 4th, the 8th and the 12th policy anniversaries respectively (3 times in total). This gradually helps you achieve your financial goals. You may choose to withdraw the Guaranteed Cash Coupons2 or accumulate them in your policy for interest3.
|Premium Payment Period||4 years||8 years|
|Guaranteed Cash Coupons
(% of Sum Insured)
|Total amount of Guaranteed Cash Coupons
(% of Sum Insured)
Annual Dividends (non-guaranteed)4,if any, will be payable starting from the first policy anniversary during the period while the policy is in force. You may choose to accumulate any Annual Dividends (non-guaranteed)4 in your policy for interest or withdraw them from your policy. Annual Dividends4and the annual interest rate for dividend accumulation are not guaranteed and may be changed from time to time by BOC Life. For details, please contact the staff of the major insurance agent banks.
The Plan provides comprehensive life protection until the Insured reaches the age of 100. The Death Benefit is equivalent to 100% of the Sum Insured or 105% of the Net Premiums Paid as at the time of the Insured's death (whichever is higher), plus any accumulated Guaranteed Cash Coupons and interest accrued thereon (if any), and any accumulated Annual Dividends(non-guaranteed)4 (if any) and interest accrued thereon (if any), less all indebtedness5 (if any). Net Premiums Paid equals the total Modal Premiums paid (excluding any extra premiums due to substandard underwriting classes or rider premiums) less all Guaranteed Cash Coupons received (excluding any interest accrued on them). The Plan also offers a simplified version which has different Death Benefit6. For details, please contact the staff of the major insurance agent banks.
To ensure further protection for you and your family, you may attach various types of supplementary riders to meet your needs. For details, please contact the staff of the major insurance agent banks.
Easy access to 24-hour Worldwide Emergency Assistance Services8, covering emergency medical assistance and referral services, and other relevant services.
|Issue Age||Age 0 (starting from 15 days after birth) to age 70|
|Policy Currency||RMB / HKD / USD|
|Coverage Period||Up to age 100|
|Premium Payment Period||4 years / 8 years|
|Minimum Sum Insured||RMB80,000 (RMB policy) /
HKD96,000 (HKD policy) /
USD12,000 (USD policy)
|Premium Payment Mode||Annual / Semi-annual / Quarterly / Monthly|
Notes：The Policy Owner is subject to the credit risk of BOC Life. If the Policy Owner discontinues and / or surrenders the insurance plan in the early policy years, the amount of the benefit he / she will get back may be considerably less than the amount of the premium he / she has paid. Past, current, projected and / or potential benefits and / or returns (e.g. bonuses, dividends, interests) presented herein are not guaranteed and are for illustrative purposes only. The actual future amounts of benefits and / or returns may be lower than or higher than the currently quoted benefits and / or returns.
Under normal circumstances, the major markets invested by BOC Life include, but not limited to, North America, Europe and Asia markets. The assets supporting the policies under the Plan mainly consist of the following:
|Fixed income instrument or interest-bearing securities
(including but not limited to government and corporate bonds, etc.)
|Growth asset (including but not limited to equity investment, mutual funds, properties investment, etc)||10%-30%|
With the aim of achieving our long term investment target, BOC Life, at our sole discretion, reserves the right to adjust the aforementioned asset allocation when there are material changes in market outlook and condition, or engage in other financial arrangements including but not limited to reinsurance arrangement. BOC Life aims at investing in assets denominated in policy's currency. If the currency of which the assets are denominated is not the same as policy currency, BOC Life may use derivatives to manage the impact of currency risk.
For the latest Investment Strategy, please refer to BOC Life website www.boclife.com.hk
Philosophy in Deciding Dividends:
Participating insurance plans provide policy owners an opportunity to receive a share of profits attributable to the participating life insurance business of BOC Life by means of dividends, with the potential prospect of long-term rates of return. To accomplish the purpose, we invest in a wide range of asset portfolios that are prudently chosen by BOC Life to balance the risk. In general, the asset portfolios mainly consist of fixed income securities and equity investments.
The actual amount of dividends is determined by the stipulated surplus sharing approach in BOC Life's policy, which is based on the past experience of BOC Life and the long-term expectation of the participating life insurance business in the future. Dividends amount mainly depends on the overall performance of the participating life insurance business of BOC Life, taking into account factors including investment returns, claim experience, persistency and operating expense. The actual amount of dividends payable is recommended by our Appointed Actuary according to the aforementioned company's policy and approved by the Board of Directors of BOC Life.
Annual dividends paid can be left with BOC Life and accumulate with interest. The interest rate (Dividends Accumulation Rate) is determined based on market conditions and expected investment return of BOC Life.
In light of the above factors, dividends and Dividend Accumulation Rate are not guaranteed and may be higher or lower than the values illustrated in the benefit illustration provided at point of sale.
You may browse the following website, http://www.boclife.com.hk/ps, to understand BOC Life's philosophy in deciding dividends as well as dividend history for reference purposes. Please note that past performance of dividend is not an indicator for its future performance.
Risk Disclosure of RMB and USD Insurance:
RMB and USD policies are subject to exchange rate risk. The exchange rate between RMB and HKD or USD and HKD may rise as well as fall. Therefore, if calculated in HKD, premiums, fees and charges (where applicable), account value / surrender value and other benefits payable under RMB or USD policy will vary with the exchange rate. The exchange rate between RMB and HKD or USD and HKD will be the market-based prevailing exchange rate determined by BOC Life from time to time, which may not be the same as the spot rate of banks. The fluctuation in exchange rate may result in losses if a customer chooses to pay premiums in HKD, or requests the insurer to pay the account value / surrender value or other benefits payable in HKD, for RMB or USD policy. RMB Conversion Limitation Risk - RMB Insurance are subject to exchange rate fluctuations which may provide both opportunities and risks. The fluctuation in the exchange rate of RMB may result in losses in the event that the customer converts RMB into HKD or other foreign currencies. (Only applicable to Individual Customers) RMB is currently not fully freely convertible. Individual customers can be offered CNH rate to conduct conversion of RMB through bank accounts and may occasionally not be able to do so fully or immediately, for which it is subject to the RMB position of the banks and their commercial decisions at that moment. Customers should consider and understand the possible impact on their liquidity of RMB funds in advance. (Only applicable to Corporate Customers) RMB is currently not fully freely convertible. Corporate customers that intend to conduct conversion of RMB through banks may occasionally not be able to do so fully or immediately, for which it is subject to the RMB position of the banks and their commercial decisions at that moment. Customers should consider and understand the possible impact on their liquidity of RMB funds in advance.
Other Key Risks:
Should there be any discrepancy between the Chinese and English versions of this promotion material, the English version shall prevail.
This promotion material is for reference only and is intended to be distributed in Hong Kong only. It shall not be construed as an offer to sell or a solicitation of an offer or recommendation to purchase or sale or provision of any products of BOC Life outside Hong Kong. Please refer to the policy documents and provisions issued by BOC Life for details (including detailed terms, conditions, exclusions, policy costs and fees) of the Plan and the supplementary rider(s) (if any). For enquiry, please contact the branch staff of the major insurance agent banks.