HSBC Hui Tian Fu Whole Life Insurance (Universal)

Transcription

1 The proposed plan is of Universal Life Insurance, the crediting interest rates above minimum guaranteed crediting interest rate are not guaranteed. The proposed plan provides payment modes of single premium, regular premium and topup premium payment. If Owner (hereinafter referred to as 'You') stops paying premium and the value of your policy account is insufficient to deduct the Cost of Insurance (shorted COI ), the policy contract may lapse. HSBC Hui Tian Fu Whole Life Insurance (Universal) UVA1601

2 Wealth Creation is not that easy, which requires zealously planning on the Wealth Protection and Wealth Transferring. Did you consider how you could transfer the wealth which you struggle lifelong for to your children safely? Did you consider how you could realize the stable wealth growth when facing the market risk of continuous interest rate drop down? To protect wealth safety, to realize wealth transferring, you shall make a plan in advance. The Legacy Planning is about Strength, Way and Art. The Strength to take advantage of market growth by considering stable investment return The way to stroll confidently on wealth transferring by paying attention to longterm asset allocation The art of following rational plans by seeking better advice from professional institution HSBC Hui Tian Fu Whole Life Insurance (Universal) provides you whole of life protection and helps you to realize the wealth transferring as well as gaining the stable investment return.

3 Benefits at a glance To set a universal policy account with stable investment The product sets up a policy account for each policy holder. While the policy is in forced, the fund in policy account will be used to invest by the company. The company will determine the crediting interest rates per month based on actual investment performance (no less than the agreed minimum guaranteed crediting interest rate of 2.25%) and credit the interest monthly into your policy account to increase your policy account value. To provide whole of life death benefit, considering high protection and legacy planning The policy term is whole of life. If the insured dies while the is in force, we will pay the surviving death beneficiary the Death Benefit and the will be terminated. This Death Benefit amount will be the higher one of the following two items: 1 The basic sum insured while the insured died, net of any amount partially withdrawn during 12 months to the day of the insured died (before deducting any Surrender Charge) 2 The value of while the insured died To provide policy Loyalty Bonus then add on policy account value If the is still in force at the end of 15th and 25th policy year, we will provide the Loyalty Bonus to increase the value of policy account. The amount of Loyalty Bonus equals to 2% of the average value of policy account in latest 60 calendar months before the end of 15th and 25th policy year, respectively. To provide transparent policy account management and information disclosure mechanism The actual crediting rates of universal account will be disclosed on company official website on monthly base and the policy account status report will be provided to each policy holder on yearly base. The policy account status report will clearly list the information of policy account change situation and fee charge in corresponding policy year. You could also dial in the company customer service hotline or contact your relationship manager to have a clear knowledge about your policy account information and change. To provide various policy service options for flexible account management The product also provides policy holder with following policy service options which could help holder to manage protection amount, policy account and cash flow more flexibly: 1 Change of sum insured 2 3 Partial withdrawal policy account value 4 loan Top up premium Notes: The applications on above policy service shall follow related company rule.

4 Simple application process Simple application process Step 1 To decide the Sum Insured amount you required based on the results of your financial needs analysis Step 2 To choose the premium payment mode (either single payment or annual payment) and the premium payment period that best suits you Step 3 you could apply to top up premium while policy is in forced (after coolingoff period). The application shall follow the related company rule. Application rule: 1. Insurable age: from age 18 to age 80 Term payment period Corresponding Insurable age range Whole of life Single 5 years 10 years age 18 age 80 age 18 age 60 age 18 age payment mode: Single payment or annual payment, flexible top up premium 3. The application limitation on Sum Insured amount: see the company operation rule

5 Charge Details Charge Details Initial Charge 3% of the premiums We will charge it oneoff for each premiums payment from you COI = Risk Sum Insured /1000 COI rate for the month Cost of Insurance (shorted in COI ) Charge Surrender Charge Partial Withdrawal Charge In above formula, Risk Sum Insured = Max (Death Benefit, 0); and COI rate for the month could be found in COI rate table which is attached in provision. We will charge COI at each COI charging date on monthly base. 0 Within the 1st / 2nd / 3rd / 4th / 5th policy year, we charge 5%/ 4%/ 3%/ 2%/ 1% of the policy account value, respectively Since from the 6th policy year: 0% Within the 1st / 2nd / 3rd / 4th / 5th policy year, we charge 5%/ 4%/ 3%/ 2%/ 1% of the partial withdrawal amount, respectively Since from the 6th policy year: 0% Reminding: We charge the initial charge, COI, Surrender charge and partial withdrawal charge as listed above, surrender or partial withdrawal might cause some degree lost to the account value. Kindly please consider carefully before making such decision.

6 Example Case Example Case Mr. Feng, aged 45, works as a private entrepreneur. He is fully aware of the risk of enterprise operation and keen to make a plan of wealth transferring in advance to separate company capital and private asset, then he could pass the private asset safely to his child. Also, considering he is the main income resource to afford the whole family, he would like to make a protection plan for his wife and child. After understanding and analyzing the requirements from Mr. Feng, the HSBC Hui Tian Fu Whole Life Insurance (Universal) policy was chosen, with a premium payment period of 5 years, a basic sum insured of RMB 5 million, an annual premium of RMB and a policy term of whole of life. Assuming no policy change happening, policy benefit illustrations are listed in below table: Notes: 1. The figures above are illustrated at a low, medium and high level of crediting interest rates assumption, which are 2.25% (minimum guaranteed crediting interest rate), 3.2% and 5.5% respectively. The illustration is based on the company's actuarial and other assumptions, and does not represent the company's historical operating performance nor forecast the future company operating performance. The investment return above minimum guaranteed crediting interest rate are not guaranteed, the actual return may be lower than the medium or high level of crediting interest rates as illustrated; 2. The Topup refers to the assumed additional paid premium in the corresponding policy year apart from the single premium and regular premium. 3. The amount placed into equals the net value that sum of premiums paid in the year (including single premium or regular premium as well as topup premium) first deducts the corresponding premium charge and then plus Loyalty Bonus (if applicable); 4. The Insurance Benefits, s and Cash s are the figures calculated at the end of the policy year; 5. If the is insufficient to deduct the Admin Fee and COI, the will be shown as 0 at the end of the corresponding policy year and beyond. During above period, Admin Fee and COI will not be deducted.

7 The detailed benefit illustration are listed under the three levels of crediting rate assumptions (corresponding to low, middle and high level of investment return) Year Age Topup for the year Accumulat ed Single or Regular Initial Charge Investment Return (Mid) Investment Return (High) Investment Return (Low) Loyalty Bonus The Amount Placed into COI Admin Fee Cash Death Benefit Loyalty Bonus The Amount Placed into COI Admin Fee Cash Death Benefit Loyalty Bonus The Amount Placed into COI Admin Fee Cash Death Benefit ,000 1,243,500 1,658,000 47,432 53,825 47,432 53,825 11,093 10,873 10,618 10,196 9,653 13,090 21,052 23,136 34,363 56,167 61,009 94, , , , ,988 1,227,554 1,655,966 2,094,565 2,279,533 2,457,012 2,537,376 2,648,575 2,715,714 2,770,102 2,691,411 2,262, , , ,628 1,190,728 1,622,846 2,073,620 2,279,533 2,457,012 2,537,376 2,648,575 2,715,714 2,770,102 2,691,411 2,262, ,700 52,635 68,051 52,635 68,051 11,088 10,854 10,571 10,103 9,491 12,286 18,400 19,745 26,551 35,693 35,835 40,351 34, , ,458 1,250,890 1,695,572 2,155,106 2,462,453 2,798,966 2,922,764 3,213,027 3,588,522 3,737,123 4,073,013 4,558,068 5,260,477 6,157,772 7,208,122 8,176, , ,639 1,213,363 1,661,661 2,133,555 2,462,453 2,798,966 2,922,764 3,213,027 3,588,522 3,737,123 4,073,013 4,558,068 5,260,477 6,157,772 7,208,122 8,176,000 5,260,477 6,157,772 7,208,122 8,176,000 67, ,564 67, ,564 11,078 10,808 10,454 9,871 9,084 10,119 10,639 9,661 1, , ,526 1,308,609 1,794,597 2,308,125 2,960,328 3,808,618 4,079,301 5,028,028 6,571,431 7,054,780 8,739,636 11,422,354 14,928,560 19,511,031 25,500,137 31,590, , ,585 1,269,351 1,758,705 2,285,043 2,960,328 3,808,618 4,079,301 5,028,028 6,571,431 7,054,780 8,739,636 11,422,354 14,928,560 19,511,031 25,500,137 31,590,199 5,028,028 6,571,431 7,054,780 8,739,636 11,422,354 14,928,560 19,511,031 25,500,137 31,590,199

8 Insuring Your Emotion When you buy insurance, whether as an individual or as a business, you re really buying a peace of mind. Whether you seek to protect physical assets or ensure business continuity, insurance allows you to take control of the uncertainties of life and make your money work harder for you. HSBC Life is committed to providing you with the peace of mind through comprehensive financial protection solutions. Our caring services help you protect what matters most. Our abundant global resources and deep understanding of local customers allow us to work with our customers to truly meet their need for highquality insurance products and services. Whether you wish to build up your wealth or to circumvent potential risks, to protect life and health, to plan for your children s education, or simply to enjoy retirement, HSBC Life is always by your side.

9 HSBC Life Insurance Company Limited offers comprehensive and professional protection solutions and service to both individual and corporate customers. HSBC Life Insurance is a customersfocused company, dedicated to developing and providing innovative and unique products based on our understanding of the market and the needs of our customers. We recognise that insurance is as much about your feelings as finances and possessions. Notes 1. If for any reason you are not happy with the plan, you can cancel your policy within the coolingoff period (15 days from the date of signing receipt of the policy). Upon cancellation, you will receive a full refund of all paid premiums. 2. This product introduction is for reference only. For detailed clauses, please refer to the policy contract which shall prevail in case of discrepancy. 3. In the event of differences arising between the Chinese version and the English version of this product introduction, the Chinese version shall prevail. HSBC Life Insurance Company Limited is committed to environmental protection HSBC Life Insurance Company Limited Contact address: 18/F HSBC Building, Shanghai ifc, 8 Century Avenue, Pudong, Shanghai, , China Tel: (86 21) Fax: (86 21) Website: Dedicated insurance hotline: HSBC Life Insurance Company Limited Beijing Branch Contact address: Unit 1102, 11/F, Tower A of Beijing IFC, No.8 Jianguomenwai Avenue, Chaoyang District, Beijing, , China Tel: (86 10) Fax: (86 10) HSBC Life Insurance Company Limited Guangdong Branch Contact address Unit 07, 24/F, Teem Tower, No.208, Tianhe Road, Tianhe District, Guangzhou, , China Tel ( Fax: (86 20) Issued by HSBC Life Insurance Company Limited S/N: INSHCMKTG150922