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Philosophy in Deciding Dividends

Participating insurance plans provide policy owners with an opportunity to receive a share of profits attributable to the participating life insurance business of our company 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 our company 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 our company’s policy, which is based on the past experience of our company 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 our company, taking into account of the 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 our company.

Annual dividends paid can be left with the company and accumulate with interest. The interest rate (Dividends Accumulation Rate) is determined based on market conditions and expected investment return of our company. 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. The fulfillment ratios of participating products are shown below.

 

Annual Dividend

The fulfillment ratio for annual dividends is calculated as the ratio of actual accumulated non-guaranteed annual dividends against the corresponding amounts illustrated in the proposal provided at the point of sale of the policy.

 

 Policy Year 1
(Policy effective
in 2017)
Policy Year 2
(Policy effective
in 2016)
Policy Year 3
(Policy effective
in 2015)
Policy Year 4
(Policy effective
in 2014)
Policy Year 5
(Policy effective
in 2013)
Policy Year 6
(Policy effective
in 2012)
Policy Year 7
(Policy effective
in 2011)
Policy Year 8
(Policy effective
in 2010)
TARGET 5 YEARS INSURANCE PLAN SERIES /
NCB ENRICHMENT 5-YEAR INS PLAN SERIES /
GOLD LABEL TARGET 5 YEARS INSURANCE PLAN
-100%100%100%100%---
LEISURE 5 YEARS INSURANCE PLAN SERIES /
NCB JOYFUL 5-YEAR INSURANCE PLAN SERIES
100%100%100%100%89%---
MULTI-PLUS SAVINGS INSURANCE PLAN (RMB)--100%100%100%101%101%101%
MULTI-PLUS SAVINGS INSURANCE PLAN (HKD/USD)--100%100%100%87%88%88%
JUVENILE 18 INSURANCE PLAN /
JUVENILE 21 INSURANCE PLAN /
KIDDIE SKY INSURANCE PLAN /
NCB EDUCATION SAVINGS INS PLAN (AGE 18) /
NCB EDUCATION SAVINGS INS PLAN (AGE 21)
--100%100%99%99%99%99%
HUNDRED LIFE INSURANCE PLAN /
NCB WHOLE LIFE INSURANCE PLAN
100%100%93%86%87%87%90%92%
HUNDRED LIFE CRITICAL ILLNESS INS PLAN /
NCB WHOLE LIFE CRITICAL ILLNESS INS PLAN
100%100%100%100%99%99%99%99%
GLORIOUS LIFE SAVINGS INSURANCE PLAN100%100%85%80%81%82%84%85%
PLENTEOUS LIFE COUPON PLAN /
PLENTEOUS LIFE COUPON PLAN (SIMPLIFIED)
100%100%100%100%100%---
FINANCIALGUARD WHOLE LIFE INSURANCE PLAN100%100%100%100%----
FINANCIALGUARD WHOLE LIFE COUPON PLAN100%100%100%100%----
FINANCIALGUARD CI INSURANCE PLAN-100%100%100%100%---
INCOMESHINE WHOLE LIFE COUPON PLAN100%100%100%-----
PROSPEROUS INCOME RISE INSURANCE PLAN /
NCB RETIREMENT INCOME INSURANCE PLAN
---100%100%99%98%97%
REAL LADY FEMALE INSURANCE PLAN---100%99%99%99%99%
BESTCARE CRITICAL ILLNESS PLAN-100%100%100%----
STEP UP WHOLE LIFE INSURANCE PLAN--100%-----

Terminal / Special Dividend

The fulfillment ratio for terminal dividends / special dividends is calculated as the ratio of actual payout amount of terminal dividends/special dividends against the corresponding amounts illustrated in the proposal provided at the point of sale of the policy.

Fulfillment ratios for terminal dividends for reporting year 2018

 Policy Year 1
(Policy effective
in 2017)
Policy Year 2
(Policy effective
in 2016)
Policy Year 3
(Policy effective
in 2015)
Policy Year 4
(Policy effective
in 2014)
Policy Year 5
(Policy effective
in 2013)
Policy Year 6
(Policy effective
in 2012)
Policy Year 7
(Policy effective
in 2011)
Policy Year 8
(Policy effective
in 2010)
STEP UP WHOLE LIFE INSURANCE PLAN--100%-----
MULTI-PLUS SAVINGS INSURANCE PLAN (HKD/USD)-------85%
MULTI-PLUS SAVINGS INSURANCE PLAN (RMB)-------100%

Fulfillment ratios for special dividends for reporting year 2018

 Policy Year 1
(Policy effective
in 2017)
Policy Year 2
(Policy effective
in 2016)
Policy Year 3
(Policy effective
in 2015)
Policy Year 4
(Policy effective
in 2014)
Policy Year 5
(Policy effective
in 2013)
Policy Year 6
(Policy effective
in 2012)
Policy Year 7
(Policy effective
in 2011)
Policy Year 8
(Policy effective
in 2010)
STEP UP WHOLE LIFE INSURANCE PLAN--------
MULTI-PLUS SAVINGS INSURANCE PLAN (HKD/USD)----85%---
MULTI-PLUS SAVINGS INSURANCE PLAN (RMB)----100%---

Crediting Interest Rate of Universal Life Policies

For universal life insurance business, the asset portfolio is constructed to support the crediting interest rate for the policy. It also allows policy owners to receive a share of profits attributable to the universal life insurance business of our company by means of crediting of interest. To accomplish the purpose, we invest in a wide range of asset portfolios that are prudently chosen by our company to balance the risk. In general, the asset portfolios mainly consist of fixed income investment securities and equity investments.

The actual crediting interest rate is determined by the stipulated approach in our company’s policy, which is based on a number of factors, including but not limited to, market conditions, actual investment return in the past and long-term expectation of investment return in the future. Future crediting interest rate may vary from time to time over the policy term, but will not be less than the minimum crediting interest rate as specified in the policy provisions, endorsements and/ or amendments. The actual crediting interest rate is recommended by our Appointed Actuary according to the aforementioned company’s policy and approved by the Board of Directors of our company.

In light of the above factors, crediting interest rate is not guaranteed and may be higher or lower than the values illustrated in the benefit illustration provided at point of sale.

The following are historical crediting interest rates of products series. In case multiple crediting interest rates were declared in a calendar year, a time-weighted average of crediting interest rate will be presented.
 

Application Date 2018 2017 2016 2015 2014 2013 2012 2011
From  To
13/7/2011 2/10/2012 3.58% 3.58% 3.58% 3.58% 3.58% 3.58% 3.58% 3.58%
3/10/2012 31/12/2012 3.58% 3.58% 3.58% 3.61% 4.00% 4.00% 4.00% -
2/1/2013 28/3/2013 3.58% 3.58% 3.58% 3.72% 4.00% 4.00% - -
2/4/2013 29/6/2013 3.58% 3.58% 3.58% 3.82% 4.00% 4.00% - -
2/7/2013 5/10/2013 3.58% 3.58% 3.58% 3.93% 4.00% 4.00% - -
7/10/2013 21/12/2013 3.58% 3.58% 3.58% 3.61% 4.00% 4.00% - -
23/12/2013 31/3/2014 3.58% 3.58% 3.58% 3.72% 4.00% 4.00% - -
1/4/2014 9/8/2014 3.58% 3.58% 3.58% 3.86% 4.00% - - -
11/11/2014 20/12/2014 3.58% 3.58% 3.61% 4.00% 4.00% - - -
22/12/2014 31/3/2015 3.50% 3.50% 3.82% 4.50% 4.50% - - -
22/12/2014 29/1/2015 3.50% 3.50% 3.58%* 4.50% 4.50% - - -
22/12/2014 27/2/2015 3.50% 3.50% 3.66%** 4.50% 4.50% - - -
1/4/2015 30/6/2015 3.50% 3.50% 4.07% 4.50% - - - -
2/7/2015 30/9/2015 3.50% 3.50% 4.33% 4.50% - - - -

 * Applicable to the policies successfully issued on or before 2015/01/29
** Applicable to the policies successfully issued from 2015/01/30 to 2015/02/27

Application date on or before 2015/02/08 :

Application Date 2018 2017 2016 2015 2014 2013 2012 2011
From To
4/1/2013 29/6/2013 3.15% 3.15% 3.15% 3.19% 3.25% 3.25% - -
2/7/2013 5/10/2013 3.15% 3.15% 3.15% 3.19% 3.25% 3.25% - -
7/10/2013 21/12/2013 3.15% 3.15% 3.16% 3.26% 3.40% 3.40% - -
23/12/2013 31/3/2014 3.15% 3.15% 3.18% 3.30% 3.40% 3.40% - -
1/4/2014 9/8/2014 3.15% 3.15% 3.22% 3.35% 3.40% - - -
11/11/2014 8/2/2015 3.15% 3.17% 3.27% 3.40% 3.40% - - -

Application date after 2015/02/08 :

Issue Date 2018 2017 2016 2015 2014 2013 2012 2011
From To
9/2/2015 27/2/2015 3.15% 3.15% 3.29% 4.00% - - - -
28/2/2015 31/3/2015 3.15% 3.15% 3.36% 4.00% - - - -
*2015/04/01 29/4/2015 3.15% 3.15% 3.43% 4.00% - - - -
**2015/04/01 30/4/2015 3.15% 3.15% 3.43% 4.00% - - - -
1/5/2015 29/5/2015 3.15% 3.15% 3.50% 4.00% - - - -
1/6/2015 30/6/2015 3.15% 3.15% 3.57% 4.00% - - - -
1/7/2015 29/7/2015 3.15% 3.15% 3.64% 4.00% - - - -
30/7/2015 31/8/2015 3.15% 3.15% 3.72% 4.00% - - - -
1/9/2015 30/9/2015 3.15% 3.15% 3.79% 4.00% - - - -
1/10/2015 30/10/2015 3.15% 3.15% 3.86% 4.00% - - - -
1/11/2015 30/11/2015 3.15% 3.15% 3.93% 4.00% - - - -
1/12/2015 31/12/2015 3.15% 3.15% 4.00% 4.00% - - - -

* Applicable to the policies applied from 2015/04/01 to 2015/04/29
** Applicable to the policies applied from 2015/02/09 to 2015/03/31 

Application date on or before 2015/02/08 :

Application Date 2018 2017 2016 2015 2014 2013 2012 2011
From To
4/1/2013 29/6/2013 3.40% 3.40% 3.40% 3.44% 3.50% 3.50% - -
2/7/2013 5/10/2013 3.40% 3.40% 3.40% 3.44% 3.50% 3.50% - -
7/10/2013 21/12/2013 3.40% 3.40% 3.41% 3.51% 3.65% 3.65% - -
23/12/2013 31/3/2014 3.40% 3.40% 3.43% 3.55% 3.65% 3.65% - -
1/4/2014 9/8/2014 3.40% 3.40% 3.47% 3.60% 3.65% - - -
11/11/2014 8/2/2015 3.40% 3.42% 3.52% 3.65% 3.65% - - -

 

Application date after 2015/02/08 :

Issue Date 2018 2017 2016 2015 2014 2013 2012 2011
From To
9/2/2015 27/2/2015 3.40% 3.40% 3.54% 4.25% - - - -
28/2/2015 31/3/2015 3.40% 3.40% 3.61% 4.25% - - - -
*2015/04/01 29/4/2015 3.40% 3.40% 3.68% 4.25% - - - -
**2015/04/01 30/4/2015 3.40% 3.40% 3.68% 4.25% - - - -
1/5/2015 29/5/2015 3.40% 3.40% 3.75% 4.25% - - - -
1/6/2015 30/6/2015 3.40% 3.40% 3.82% 4.25% - - - -
1/7/2015 29/7/2015 3.40% 3.40% 3.89% 4.25% - - - -
30/7/2015 31/8/2015 3.40% 3.40% 3.97% 4.25% - - - -
1/9/2015 30/9/2015 3.40% 3.40% 4.04% 4.25% - - - -
1/10/2015 30/10/2015 3.40% 3.40% 4.11% 4.25% - - - -
1/11/2015 30/11/2015 3.40% 3.40% 4.18% 4.25% - - - -
1/12/2015 31/12/2015 3.40% 3.40% 4.25% 4.25% - - - -

* Applicable to the policies applied from 2015/04/01 to 2015/04/29
** Applicable to the policies applied from 2015/02/09 to 2015/03/31

Application Date 2018 2017 2016 2015 2014 2013 2012 2011
From To
9/4/2013 29/6/2013 3.58% 3.58% 3.58% 3.82% 4.00% 4.00% - -
2/7/2013 5/10/2013 3.58% 3.58% 3.58% 3.93% 4.00% 4.00% - -
7/10/2013 31/12/2013 3.58% 3.58% 3.61% 4.00% 4.00% 4.00% - -
2/1/2014 31/3/2014 3.58% 3.58% 3.58% 3.72% 4.00% - - -
1/4/2014 10/8/2014 3.58% 3.58% 3.58% 3.86% 4.00% - - -
11/8/2014 4/1/2015 3.58% 3.58% 3.61% 4.00% 4.00% - - -
Application Date 2018 2017 2016 2015 2014 2013 2012 2011
From To
4/11/2013 31/3/2014 3.58% 3.58% 3.58% 3.72% 4.00% 4.00% - -
1/4/2014 10/8/2014 3.58% 3.58% 3.58% 3.86% 4.00% - - -
8/11/2014 4/1/2015 3.58% 3.58% 3.61% 3.40% 3.40% - - -
Application Date 2018 2017 2016 2015 2014 2013 2012 2011
From To
4/11/2013 31/3/2014 3.15% 3.15% 3.18% 3.30% 3.40% 3.40% - -
1/4/2014 10/8/2014 3.15% 3.15% 3.22% 3.35% 3.40% - - -
11/8/2014 4/1/2015 3.15% 3.16% 3.26% 3.40% 3.40% - - -
Application Date 2018 2017 2016 2015 2014 2013 2012 2011
From To
4/11/2013 31/3/2014 3.40% 3.40% 3.43% 3.55% 3.65% 3.65% - -
1/4/2014 10/8/2014 3.40% 3.40% 3.47% 3.60% 3.65% - - -
11/8/2014 4/1/2015 3.40% 3.41% 3.51% 3.65% 3.65% - - -
Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
1 4.50% 4.50% 4.50% 4.50% - - - -
2 3.50% 3.50% 3.50% - - - - -
3 3.50% 3.50% - - - - - -
Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
1 4.00% 4.00% 4.00% 4.00% - - - -
2 3.15% 3.15% 3.15% - - - - -
3 3.15% 3.15% - - - - - -

Crediting interest rates differ by different policy year under each calendar year. 

Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
1 4.25% 4.25% 4.25% 4.25 - - - -
2 3.40% 3.40% 3.40% - - - - -
3 3.40% 3.40% - - - - - -

Crediting interest rates differ by different policy year under each calendar year. 

Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
5/1/2015 6/12/2015 1 4.50% 4.50% 4.50% 4.50% - - - -
2 3.50% 3.50% 3.50% - - - - -
3 3.50% 3.50% - - - - - -
7/12/2015 - 1 4.50% 4.50% 4.50% 4.50% - - - -
2 3.50% 3.50% 3.50% - - - - -
3 3.50% 3.50% - - - - - -
Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
5/1/2015 6/12/2015 1 3.40% 3.40% 3.40% 3.40% - - - -
2 3.15% 3.15% 3.15% - - - - -
3 3.15% 3.15% - - - - - -
7/12/2015 - 1 4.00% 4.00% 4.00% 4.00% - - - -
2 3.15% 3.15% 3.15% - - - - -
3 3.15% 3.15% - - - - - -
Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
5/1/2015 6/12/2015 1 3.65% 3.65% 3.65% 3.65% - - - -
2 3.40% 3.40% 3.40% - - - - -
3 3.40% 3.40% - - - - - -
7/12/2015 - 1 4.25% 4.25% 4.25% 4.25% - - - -
2 3.40% 3.40% 3.40% - - - - -
3 3.40% 3.40% - - - - - -

Crediting interest rates differ by different policy year under each calendar year. 

Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
5/1/2015 6/12/2015 1 4.50% 4.50% 4.50% 4.50% - - - -
2 3.50% 3.50% 3.50% - - - - -
3 3.50% 3.50% - - - - - -
7/12/2015 - 1 4.50% 4.50% 4.50% 4.50% - - - -
2 3.50% 3.50% 3.50% - - - - -
3 3.50% 3.50% - - - - - -
Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
5/1/2015 6/12/2015 1 3.40% 3.40% 3.40% 3.40% - - - -
2 3.25% 3.25% 3.25% - - - - -
3 3.25%* 3.25%* - - - - - -
  3.15%** 3.15%** - - - - - -
7/12/2015 - 1 4.00% 4.00% 4.00% 4.00% - - - -
2 3.15% 3.15% 3.15% - - - - -
3 3.15% 3.15% - - - - - -

 * Applicable to the policies successfully issued from 2015/05/29
** Applicable to the policies successfully issued from 2015/05/30 to 2015/12/6

Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
5/1/2015 6/12/2015 1 3.65% 3.65% 3.65% 3.65% - - - -
2 3.50% 3.50% 3.50% - - - - -
3 3.50%* 3.50%* - - - - - -
  3.40%** 3.40%** - - - - - -
7/12/2015 - 1 4.25% 4.25% 4.25% 4.25% - - - -
2 3.40% 3.40% 3.40% - - - - -
3 3.40% 3.40% - - - - - -

* Applicable to the policies successfully issued from 2015/01/05 to 2015/05/29
** Applicable to the policies successfully issued from 2015/05/30 to 2015/12/6 

Crediting interest rates differ by different policy year under each calendar year.

Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
2/1/2016 4/10/2016 1 4.50% 4.50% 4.50% - - - - -
2 3.50% 3.50% 3.50% - - - - -
5/10/2016 1/1/2017 1 4.50% 4.50% 4.50% - - - - -
2 3.50% 3.50% 3.50% - - - - -
2/1/2017 18/3/2017 1 4.50% 4.50% - - - - - -
2 3.50% 3.50% - - - - - -
20/3/2017 14/6/2017 1 4.50% 4.50% - - - - - -
2 4.00% 4.00% - - - - - -
15/6/2017 30/11/2018 1 4.50% 4.50% - - - - - -
2 3.50% 3.50% - - - - - -
1/12/2018 - 1 4.50% - - - - - - -
Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
2/1/2016 4/10/2016 1 4.00% 4.00% 4.00% - - - - -
2 3.15% 3.15% 3.15% - - - - -
5/10/2016 1/1/2017 1 3.75% 3.75% 3.75% - - - - -
2 3.00% 3.00% 3.00% - - - - -
2/1/2017 30/11/2018 1 3.75% 3.75% - - - - - -
2 3.00% 3.00% - - - - - -
1/12/2018 - 1 3.50% - - - - - - -
Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
2/1/2016 4/10/2016 1 4.25% 4.25% 4.25% - - - - -
2 3.40% 3.40% 3.40% - - - - -
5/10/2016 1/1/2017 1 4.00% 4.00% 4.00% - - - - -
2 3.25% 3.25% 3.25% - - - - -
2/1/2017 30/11/2018 1 4.00% 4.00% - - - - - -
2 3.25% 3.25% - - - - - -
1/12/2018 - 1 4.00% - - - - - - -

Crediting interest rates differ by different policy year under each calendar year. 

Issue Date 2018 2017 2016 2015 2014 2013 2012 2011
In or before Feb 2015 4.00% 4.00% 4.00% 4.00% 4.00% - - -
Mar 2015 - 12 Apr 2017 4.20% 4.20% 4.20% 4.20% - - - -
In or after 13 Apr 2017 4.00% 4.00% - - - - - -
2018 2017 2016 2015 2014 2013 2012 2011
3.90% 3.90% 3.90% 3.90% - - - -
Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
22/6/2017 - 1 4.00% 4.00% - - - - - -
2 3.40% 3.40% - - - - - -
Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
22/6/2017 30/11/2018 1 3.75% 3.75% - - - - - -
2 3.15% 3.15% - - - - - -
1/12/2018 - 1 3.65% - - - - - - -
Application Date Policy Year 2018 2017 2016 2015 2014 2013 2012 2011
From To
22/6/2017 30/11/2018 1 4.00% 4.00% - - - - - -
2 3.40% 3.40% - - - - - -
1/12/2018 - 1 4.15% - - - - - - -

Note

1. Product series shown are those which have new policies issued in the previous 5 calendar years prior to the reporting year

2. Historical crediting interest rate represents record in the past and is not an indicator of future declaration of crediting interest rate of the products.