Star Legacy Private Wealth Whole Life Plan
Inheritance by loved ones with wealth appreciation
Specially provides simplified underwriting option1
Enjoy 6% guaranteed interest rate per annum on prepaid premiums2
Provides whole life insurance protection
Flexible payment arrangement
Lump sum prepayment or annuity payments options available for Death Benefit3
1. Star Legacy Private Wealth Whole Life Plan – Elite is only applicable for appliaction during the designated promotion period, and is subject to the relevant requirements in accordance with the prevailing underwriting rules and guidelines of BOC Life. For details, please contact the branch staff of the major insurance agency. Customers not fulfilling the relevant requirements for simplified underwriting may consider to apply for Star Legacy Private Wealth Whole Life Plan - Classic.
2. (i) Premium Deposit Account is only applicable to the policy with annual premium payment mode. The premium payable and Levy (if any) must be made in lump sum upon application whereas further pre-payment will not be accepted thereafter. (ii) If “Waiver Of Premium Rider” or “Payor’s Death Or Disability Rider” is attached to the policy, Premium Deposit Account is not applicable. (iii) Annual premiums and Levy (if any) will be deducted automatically from the Premium Deposit Account on each Policy Anniversary when due. The Premium Deposit Account balance (if any) should be sufficient to pay the entire amount of annual premiums and Levy (if any) of the policy, and cannot be used for partial settlement of annual premiums and/or Levy (if any). (iv) The Premium Deposit Account balance of Basic Plan (if any) is accumulated with BOC Life at a guaranteed accumulation interest rate. When the Premium Deposit Account balance (if any) is insufficient to pay the annual premium payable and/or Levy (if any), BOC Life will issue a payment notice and/or levy reminder to customer, and interest will not be accrued on the residual value. (v) If the Insured passes away, the Premium Deposit Account balance (if any) together with the Death Benefit will be payable to the Beneficiary. (vii) For details, please refer to the proposal and provisions issued by BOC Life.
3. The Policy Owner can only assign one (1) Beneficiary and the annuity payments period must be not less than two (2) years and not more than twenty (20) years. The Survivorship Option shall only be exercised subject to the conditions to be imposed by BOC Life and must be approved and endorsed by BOC Life in writing prior to the death of the Insured. The Beneficiary, at all times, does not have the right to change this Survivorship Option or any part thereof, including but not limited to the payment method once approved by BOC Life. For the avoidance of doubt, the claims for Death Benefit and Survivorship Option are mutually exclusive. If Survivorship Option has not been elected or exercised, BOC Life will pay the Death Benefit in a lump sum. For details, please refer to provisions issued by BOC Life.
*"First Year Premium" is based on the Initial Annual Premium as stated in the proposal. First Year Premium does not include levy, pre-paid premium(s) (if applicable) and extra premium loading imposed due to health condition (if applicable).
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).
