Policy Loan Interest Rate on Universal Life
Policy Loan Interest Rate on Universal Life
| Policy Loan Interest Rate | HKD Policy1 | USD Policy1,2 |
|---|---|---|
| Interbank Offered Rate Option | 3-month HIBOR3 +/- Fixed Rate5 | Not Applicable |
| Prime Rate Option | HKD Prime Rate4 +/- Fixed Rate5 | USD Prime Rate4 +/- Fixed Rate5 |
For details on Policy Loan and the latest Policy Loan Interest Rate, please refer to the branch staff of the major insurance agent banks and the Application for Policy Loan on Universal Life.
1. Applicable to MaxiWealth ULife Insurance Plan and MaxiGrowth ULife Insurance Plan.
2. Applicable to Forever Glorious ULife Plan Series and Luminous Prime ULife Plan.
3. 3-month HIBOR is published by the Hong Kong Association of Banks6. For further details, please visit the website of Hong Kong Association of Banks.
4. HKD Prime Rate / USD Prime Rate is quoted by Bank of China (Hong Kong) Limited.
5. Fixed Rate is determined by the Company at the beginning of each Loan Tenor and remains unchanged during that Loan Tenor. Once this Policy Loan Interest Rate option is selected, it cannot be switched during the Loan Tenor.
6. The Hong Kong Association of Banks is the source and owner of the HKD Interest Settlement Rates, the HKD Interest Settlement Rates are commonly known as Hong Kong Interbank Offered Rates or HIBOR.