Comparison

Important Information

1. Blissful Bloom Protection Linked Plan, Tactics Investment Insurance Plan, Harvest Joy Protection Plan, and Wisdom Investment Linked Insurance Plan (each a “Plan” and collectively, the “Plans”) are investment-linked assurance schemes (“ILAS policy”), which are insurance policies issued by BOC Group Life Assurance Company Limited (“BOC Life” or “the Company” or “we” or “us”)*, providing both insurance protection and investment element with reference to the investment choices you selected. You are therefore subject to the credit risks of BOC Life.
2. The Plan(s) is/are not a bank deposit or saving plan, or investment fund without any insurance element.
3. The premiums paid by you towards your ILAS policy will become part of the assets of the Company. You do not have any rights or ownership over any of those assets. Your recourse is against the Company only.
4. The premiums paid by you, after deduction of any fees and charges applicable to your ILAS policy, will be invested by BOC Life in the underlying funds corresponding to the investment choices you selected for BOC Life’s asset liability management. The unit(s) allocated to the account established and maintained under your ILAS policy is notional and solely for the purpose of determining the value and benefits under your ILAS policy. You are NOT investing directly in the underlying funds corresponding to the investment choices you selected. You do not have any rights or ownership over the underlying funds corresponding to the investment choices you selected.
5. The potential return on your ILAS policy is calculated and determined by the Company with reference to the performance of the underlying fund(s) corresponding to the investment choice(s) you selected and shall be subject to ongoing fees and charges which will continue to be deducted from your ILAS policy and may be lower than the return of the underlying funds corresponding to the investment choices you selected. 
6. (Applicable to Tactics Investment Insurance Plan, Harvest Joy Protection Plan, and Wisdom Investment Linked Insurance Plan) The return of some of the investment choice(s) is determined with reference to pools of assets internally managed by the Company on a discretionary basis not authorized by the Securities and Futures Commission under the Code on Unit Trusts and Mutual Funds.
7. The Plan(s) is/are designed to be held for a long-term period. Partial withdrawal, surrender, lapse, or termination of the ILAS policy in the early years or suspension of or reduction in premium may result in a significant loss of principal as well as bonuses awarded (if applicable). Poor performance of the underlying fund(s) may further magnify your investment losses, while all charges are still deductible.
8. (Applicable to Blissful Bloom Protection Linked Plan) This ILAS policy is subject to an early encashment charge of up to 7.5% of the partial withdrawal amount made from the Base Account (in the case of a partial withdrawal) or base account value (in the case of a surrender) for the first 5 policy years and a premium charge of 2.5% of each lump sum top-up premium paid (if any). It is only suitable for investors who are prepared to hold the investment for a long term period.
9. (Applicable to Blissful Bloom Protection Linked Plan) If you are not prepared to hold your policy for at least 10 years, this ILAS policy is not suitable for you and it may be cheaper to purchase an insurance policy and make separate fund investments. You should seek independent professional advice.
10. (Applicable to Blissful Bloom Protection Linked Plan) This ILAS policy will no longer provide high life protection when the insured dies on or after the policy anniversary on or immediately following the insured’s 65th birthday and the amount of death benefit payable may be significantly reduced. Please note that the high life protection is only available for the death benefit coverage attributable to the base account but not the top-up account.
11. Although your ILAS policy is a life insurance policy, because part of your death benefit is linked to the performance of the underlying funds corresponding to the investment choices you selected from time to time, your death benefit is subject to investment risks and market fluctuations. The death benefit payable may not be sufficient for your needs. The Cost of Insurance (“COI”) used to cover the insurance protection will be deducted from your ILAS policy. This charge may increase significantly when the insured gets older or your investments make a loss, etc.
12. The investment choice(s) available under the ILAS policy can have very different features and risk profiles. Some of them may even be of high risk, in particular for those underlying funds of any investment choices which could be derivative funds with a net derivative exposure exceeding 50% of their net asset value. You may incur significant losses by investing in such investment choices and are strongly advised to exercise caution in relation to such investment choices. You should not invest in any investment choice if you do not fully understand and are not willing to assume its associated risks. 
13. Investment involves risk. Past performance should not be taken as an indication of future performance. Each investment choice is subject to market fluctuations and risks inherent in all investments. The notional unit prices of investment choices and the income accrued from investing in such investment choices (if any) may go down as well as up. Investment returns are not guaranteed.
14. (Applicable to Harvest Joy Protection Plan, Wisdom Investment Linked Insurance Plan and Blissful Bloom Protection Linked Plan) Policyholders should be aware of the following regarding your death benefit and the COI:
    • Part of the fees and charges you pay that will be deducted from the value of the ILAS policy will be used to cover the COI for the life coverage and any additional coverage you may choose, where applicable.
    • The COI will reduce the amount that may be applied towards investment in the underlying fund(s) corresponding to the investment choices you selected.
    • The COI may increase significantly during the term of your ILAS policy due to factors such as age and investment losses, etc. This may result in significant or even total loss of your premiums paid.
    • If the value of your ILAS policy becomes insufficient to cover all the ongoing fees and charges, including the COI, the policy may be terminated early, whereupon you could lose all the premiums you paid and all benefits (including your death benefit coverage) under your ILAS policy.
    • You should consult your financial consultant or contact the Company for details of the COI such as how the COI may increase and impact your death benefit and the value of your ILAS policy.
15. (Applicable to Blissful Bloom Protection Linked Plan) The investment choice designated with “(Dis)” in its name (the “Investment Choice (Cash Distribution)”) may distribute regular cash dividends through the Plan. If you invest in the Investment Choice (Cash Distribution), we will pay you cash dividend once we receive cash dividend from the underlying fund(s) of Investment Choice(s) (Cash Distribution). Please note:
    • The distribution of cash dividends from underlying fund of the Investment Choice (Cash Distribution), dividend amounts and distribution frequency are not guaranteed and are subject to the discretion of the underlying fund corresponding to the Investment Choice (Cash Distribution) you invested. The cash dividend amounts we have paid are not an indication, forecast or projection of future cash dividends in any way.
    • An underlying fund of the Investment Choice (Cash Distribution) may pay cash dividends out of its investment income, capital gains or capital, according to its dividend policy. The underlying fund may at its discretion pay cash dividends out of the capital or out of gross income while charging or paying all or part of its fees and expenses to/out of the capital, resulting in an increase in distributable income for the payment of cash dividends by the underlying fund and therefore, the underlying fund may effectively pay dividend out of capital. 
    • Payment of dividends out of capital amounts to a return or withdrawal of part of your original investment or from any capital gains attributable to that original investment. Any distributions involving payment of cash dividends out of capital or effectively out of capital may result in an immediate reduction of the unit price of the underlying fund corresponding to the Investment Choice (Cash Distribution) you invested and is reflected in the unit price of the Investment Choice (Cash Distribution) accordingly, which may have a negative impact on the unit price of the Investment Choice (Cash Distribution).
    • The Investment Choice (Cash Distribution) that pays out cash dividends may lower the value of your ILAS policy when compared to an investment choice that does not distribute dividends. In this case, loyalty bonus, death benefit, surrender value and maturity benefit may be reduced accordingly; and COI may increase and has further negative impact on the value of your ILAS policy. If the value of your ILAS policy becomes insufficient to cover all the ongoing fees and charges, your ILAS policy may be terminated early, whereupon you could lose all the premiums you paid and all benefits (including your death benefit coverage) under your ILAS policy.
    • We reserve the right to vary the distribution policy of the Plan (including its investment choices) and related administration arrangement subject to relevant regulatory approval by giving at least one month’s prior written notice to you or any shorter period of notice in compliance with the relevant regulatory requirements. The dividend amount paid by the Investment Choice (Cash Distribution) and dividend composition information of the corresponding underlying fund for the last 12 months are available from BOC Life upon request. In addition, from the date of the launch of the Investment Choice(s) (Cash Distribution), such information is also available on our website.
    • You should fully understand the Investment Choice (Cash Distribution) and its associated risks before you select it.

Warning: Please note that a positive distribution yield does not imply a positive return. You should not make any investment decision solely based on information contained herein. You should read the offering documents of the corresponding underlying funds for further details including the risk factors. The documents are available from BOC Life upon request or downloadable from our website.

16. You should note that the underlying funds of the investment choices may have separate charges for management fees, performance fees, bid-offer spreads and/or switching fees. You do not pay these fees directly; the fees will be deducted from and reflected in the underlying fund unit price. For details, please refer to the investment choice brochure and the offering documents of the underlying funds, which are available from BOC Life upon request.

17. Please do not invest based on this material alone. You should read the offering documents of the Plan(s) (including the product brochure, investment choice brochure and product key facts statement) and the underlying fund(s) corresponding to each investment choice, and the notices issued by the Company from time to time for further details (including the risk factors, charges, investment objectives and policies, etc.).

18. You should not purchase the Plan(s) unless you fully understand the Plan(s) and your financial consultant has explained how suitable the Plan(s) could be for you. The final decision is yours.

*Please note that Tactics Investment Insurance Plan, Harvest Joy Protection Plan, and Wisdom Investment Linked Insurance Plan are no longer marketed to the public in Hong Kong and have been closed for new policy application.

This website is issued by BOC Group Life Assurance Company Limited.