Build a secure financial future and unlock endless possibilities for your loved ones
You have diligently worked over the years to build wealth, establish a solid financial foundation for your loved ones and achieve your desired lifestyle.
Chubb Supreme Life Insurance Plan II (Regular Premium) (“the Plan”) is a participating insurance plan that offers lifelong protection and more opportunities to achieve your financial goals. The Plan preserves your wealth through guaranteed cash value and offer potential growth in your wealth through non-guaranteed Terminal Dividend. What’s more, after the designated Policy Anniversary, you have the option to exercise the Terminal Dividend Lock-In Option to realize potential returns, enabling your loved ones to embrace unlimited possibilities in the future. Moreover, it allows you to designate a specific date to reward future generations while achieving your own long-term financial goals.
Plan Highlights
- If the Insured passes away while the Policy is in force, we will pay a Death Benefit including Special Coverage Benefit, if applicable, to the Beneficiary(ies) to help you protect your loved ones. For details of the Special Coverage Benefit, please refer to the “Basic Information - Special Coverage Benefit” section below.
- If the Insured passes away before the Glorious Anniversary (i.e. the 15th Policy Anniversary or the Policy Anniversary immediately following the Insured’s Age of 64, whichever is later) while the Policy is in force, we will pay up to 120% of the Sum Assured as the guaranteed portion of the Death Benefit including the Special Coverage Benefit, if applicable.
- Your financial burden may decrease as the years go by, the Plan automatically adjusts its protection and savings elements to match the need for protection, moving the focus to growing wealth. Starting from the Glorious Anniversary, the guaranteed portion of the Death Benefit will decrease by 5% per annum from 100% to 60% of the Sum Assured within 8 consecutive years and will remain at 60% of the Sum Assured until the end of your Policy. Under no circumstances, the guaranteed portion of the Death Benefit will be lower than the guaranteed cash value.
- The Plan offers Life Insurance Proceeds Settlement Option, which gives you control over the way you pass on your legacy to your family.
- You can choose the payout arrangement that suits you best while the Insured is still alive and your Policy is in force – this includes options such as receiving a lump sum payment, annual instalments, or monthly instalments over a duration of 10, 20, or 30 years. You can also opt for a combination of both lump sum and instalment payments, and have the choice to designate a specific date for the payout arrangement.
- When you have sufficient budget on hand, you can apply for paying up the Policy in advance by exercising the Paid-up In Advance Option (applicable to 5-Year or 10-Year Premium payment term with annual Premium payment mode) after the 1st Policy Year and within the specific period while the Policy is in force. After exercising this option, your Policy will be paid up and the Cash Value will be adjusted upwards until the end of the 5th Policy Year (for Premium payment term of 5 years) or the end of the 10th Policy Year (for Premium payment term of 10 years). Starting from the 5th Policy Anniversary (for Premium payment term of 5 years) or the 10th Policy Anniversary (for Premium payment term of 10 years), the original scale of the Cash Value shall be applied.
- The Plan is a participating insurance plan. On top of providing lifelong protection, it helps to preserve and offer potential growth in your wealth, forming a solid financial foundation for your future generations.
- The Plan helps you get the most out of your wealth with potential long-term return with guaranteed cash value and non-guaranteed Terminal Dividend. While the Policy is in force, we will pay the guaranteed cash value when you surrender the Policy. We may also pay the non-guaranteed Terminal Dividend (if any) when you surrender the Policy or claim for the Death Benefit, or when the Policy reaches the Maturity Date.
- Subject to the Company’s approval, while the Policy is in force, starting from the 15th Policy Anniversary (for Premium payment term of 5 years or 10 years) or the 25th Policy Anniversary (for Premium payment term of 20 years), you may, within 30 days from every Policy Anniversary, apply to exercise the Terminal Dividend Lock-in Option to lock in at least 10% of the Terminal Dividend (if any) and up to a maximum total Lock-in Percentage of 50%.
- You may choose one of the options: you may allocate the Lock-in Amount to the Settlement Deposit Account for accumulating non-guaranteed interest or cash it out fully.
- While the Policy is in force, during the lifetime of you and the Insured, you can name a person as the Successor Owner. If the Owner passes away or is diagnosed with Alzheimer’s Disease, Coma, Loss of Independent Existence or Parkinson’s Disease, the Successor Owner will become the new Owner of the policy.
- To successfully plan for the future of your business, it is important for corporate owners to insure your human capital. Loss of a key person(s) in your business can lead to huge impact on your business. The Plan’s Keyman Policy Conversion Option can be a solution for corporate owners in the event of change in key employee. In the unfortunate event of the death of your valuable employee, the Death Benefit offered under the Plan may reduce the potential loss of profits and provide liquidity, so that you can rest assured that your business’ financial position is protected.
Regulatory Disclosure
This webpage is for general reference only and should not be regarded as professional advice, recommendation and it is not part of the policy. It provides an overview of the key features of the product and should be read along with other materials which cover additional information about the product. Such materials include, but not limited to, product brochure that contains key product risks, policy provisions that contain exact terms and conditions, benefit illustrations (if any) and other policy documents and other relevant marketing materials, which are all available upon request. You might also consider seeking independent professional advice if needed.
The above information shall not be construed as an offer to sell, solicitation or persuasion to buy or provision of any of our products outside Hong Kong. For further information, please contact your Chubb Life Hong Kong Insurance Consultant or call our Customer Service Center Hotline at (852) 2894 9833.
The “Chubb Life Hong Kong”, “Company”, “we”, or “our” herein refers to Chubb Life Insurance Hong Kong Limited.
