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CoverU Whole Life Insurance Plan

legacy

Provides two different underwriting versions1 to suit for different customer needs

Easy application

Simplified underwriting1 with no medical examination

accumulation

Guaranteed amount of Death Benefit2 up to  300%3 of the Sum Insured at important stage of life

flexible

Whole life protection 

legacy

Return in long run for wealth accumulation

easy

Additional Accidental Death Benefit4

easy

Eligible to apply for policy reverse mortgage loans5 for retirement planning

Latest Promotion Offers 

1 Simplified underwriting is only applicable for CoverU Whole Life Insurance Plan (Delight Version), CoverU Whole Life Insurance Plan (Delight Version) is only sold through Bank of China (Hong Kong) Limited sales channel.

2 [Applicable to CoverU Whole Life Insurance Plan] Death Benefit is equivalent to the Sum Insured as at the date of the Insured’s death, plus Additional Death Benefit (if applicable), plus Accumulated Annual Dividends (non-guaranteed) (if any) and interest accrued thereon (non-guaranteed) (if any), plus Terminal Dividend (non-guaranteed) (if any), less all indebtedness and outstanding premiums (if any) under the policy. [Applicable to CoverU Whole Life Insurance Plan (Delight Version)] If the Insured dies within the first 3 Policy Years, Death Benefit is equivalent to the Total Premiums Paid as at the date of the Insured’s death, plus Accumulated Annual Dividends (non-guaranteed) (if any) and interest accrued thereon (non-guaranteed) (if any), plus Terminal Dividend (non-guaranteed) (if any), less all indebtedness and outstanding premiums (if any) under the policy. If the Insured dies after the first 3 Policy Years, Death Benefit is equivalent to the Sum Insured as at the date of the Insured’s death, plus Additional Death Benefit (if applicable), plus Accumulated Annual Dividends (non-guaranteed) (if any) and interest accrued thereon (non-guaranteed) (if any), plus Terminal Dividend (non-guaranteed) (if any), less all indebtedness and outstanding premiums (if any) under the policy.

3 The guaranteed amount of Death Benefit is up to 300% of the Sum Insured for CoverU Whole Life Insurance Plan with full underwriting. For CoverU Whole Life Insurance Plan (Delight Version) with simplified underwriting, provided that the Insured dies after the first 3 Policy Years, the guaranteed amount of Death Benefit can be up to 300% of the Sum Insured if the issue age of the Insured is before age 58. If the issue age of the Insured is at age 58, 59 or 60, the guaranteed amount of Death Benefit can be up to 287.5%, 275% or 262.5% of the Sum Insured respectively.

4 Additional Accidental Death Benefit is only applicable to the Insured whose issue age is between 18 and 60. The Accident should occur within the first 3 policy years, or on or before the policy anniversary on or immediately following the Insured’s 60th birthday (whichever is earlier) and should be the direct, independent and the sole cause of, and should result in the death of the Insured within 180 days after the Accident and before termination of coverage under the relevant policy. If the Insured is covered by more than one policy under CoverU Whole Life Insurance Plan and/or CoverU Whole Life Insurance Plan (Delight Version), the total maximum amount of the Additional Accidental Death Benefit of all policies under either CoverU Whole Life Insurance Plan or CoverU Whole Life Insurance Plan (Delight Version) shall be equal to RMB300,000 / HKD300,000 / USD37,500 (per life) (the total maximum amount of the Additional Accidental Death Benefit shall be calculated separately for these two underwriting versions of the Plan). BOC Life shall only pay the said total maximum amount once for all policies under either CoverU Whole Life Insurance Plan or CoverU Whole Life Insurance Plan (Delight Version) respectively. For details, please refer to policy documents and provisions issued by BOC Life.

5 This Plan is an eligible life insurance plan under PRMP, but it does not necessarily mean that your PRMP application will be approved. The eligibility of this product under the PRMP is based on the features of the product. Therefore, you and your life insurance policy are still required to meet all the eligibility requirements under PRMP before you apply for the policy reverse mortgage loan. The general information provided on PRMP is for reference only, and you should not make any decisions based on such information alone. BOC Life shall not be responsible for the policyowner’s suitability and eligibility to apply for policy reverse mortgage. You should always seek for advice from professional bodies if you have any doubts. Please note that the information provided is subject to change including the eligibility criteria for PRMP. We do not take any responsibility to inform you about any changes and how they may affect you. The Policy Reverse Mortgage Programme is operated by HKMC Insurance Limited, a wholly-owned subsidiary of The Hong Kong Mortgage Corporation Limited. For further information, please refer to The Hong Kong Mortgage Corporation Limited website: www.hkmc.com.hk.

The above material is for reference only and must be read in conjunction with the product brochure / coverage details 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. The above Plan and the supplementary riders (if any) are subject to the formal policy documents and provisions issued by BOC Life. Please refer to the policy documents and provisions issued by BOC Life for details (including but not limited to insured items and coverage, detailed terms, key risks, conditions, exclusions, policy costs and fees) of the Plan and the supplementary riders (if any).