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Chubb: Your partner for financial flexibility, today and tomorrow.

Today’s flexibility is tomorrow’s certainty. As you are always thinking about what is the best for your loved ones, it is important to have options that allow you to customize your wealth plan to help secure their future.

That is why you need a thoughtful and comprehensive wealth management solution, one that has the versatility and flexibility to support your family’s and your changing goals as you continue your wonderful life journey.   

Chubb Supreme Life Insurance Plan II (Regular Premium) (“the Plan”) is a participating insurance plan which is designed to meet a wide range of wealth management needs, from life protection to wealth preservation, from business continuity to legacy planning possibilities. At the same time, we are proud to be among the first in the market to offer the Paid-up In Advance Option, giving you the flexibility to pay up your Policy early to suit your evolving needs.

With this Plan, you will be able to protect and provide for your loved ones, far into the future..

Plan Highlights

Safeguard your loved ones’ future, whatever the future brings
Ensuring there are adequate arrangements for your loved ones even when the unfortunate event happens is a fundamental building block of your peace of mind.
 
  • If the Insured passes away while the Policy is in force, we will pay a Death Benefit, including the Special Coverage Benefit (if applicable), to the Beneficiary(ies) to help them cope with the financial challenges ahead. For details of the Special Coverage Benefit, please refer to the “Basic Information - Special Coverage Benefit” section below
Protection that is in sync with your life stages
Your protection needs evolve across the different seasons of your life. That is why you need a solution that can match and adapt to your shifting priorities.
  • 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).
  • Since your financial responsibilities may decrease as the years go by, the Plan is designed to reflect your evolving needs, by automatically adjusting the proportions of its protection and savings elements for a stronger focus on wealth accumulation. Starting from the Glorious Anniversary, the guaranteed portion of the Death Benefit will be adjusted downward by 5% per annum within 8 consecutive Policy Years until it has decreased from 100% to 60% of the Sum Assured. Thereafter, it will remain at 60% of the Sum Assured until the end of the Policy. Under no circumstances will the guaranteed portion of the Death Benefit be lower than the guaranteed cash value.
Tailor your legacy to your needs
Planning your legacy is not only about allocating your wealth. You also need to arrange for each of your heirs to receive their inheritance in a way and at a time that will be most beneficial to them.
  • The Plan offers the Life Insurance Proceeds Settlement Option, which gives you control over the way you pass on your legacy to your family.
  • While the Insured is still alive and your Policy is in force, you can choose the payout arrangement that suits you best. A number of settlement options are available for your selection – your Beneficiaries can receive a lump sum payment, annual instalments, or monthly instalments over 10, 20, or 30 years. You can also opt for a combination of a lump sum plus instalment payments, and even specify a date for your payout instructions to be executed.
Paid-up In Advance Option for Premium payment flexibility
As your financial circumstances evolve, you may intend to finetune your wealth management decisions to reflect new objectives. The Plan gives you the flexibility to do just that.
  • You can apply for the Paid-up In Advance Option (applicable to Policies in annual Premium payment mode and with a 5-year or 10-year Premium payment term) after the 1st Policy Year and within the specific period while the Policy is in force. This will allow you to pay up the Policy ahead of schedule. After this option is exercised, your Policy will be paid up and the Cash Value will be adjusted upward until the end of the 5th Policy Year (for 5-year Premium payment term) or the end of the 10th Policy Year (for 10-year Premium payment term). Starting from the 5th Policy Anniversary (for 5-year Premium payment term) or the 10th Policy Anniversary (for 10-year Premium payment term), the original scale of the Cash Value will be applied.
Preserve, grow and pass on your legacy
A wise way to preserve your wealth is by continuously growing it. That is why the Plan is designed to help you achieve potential wealth growth over the long term.
  • The Plan is a participating insurance plan. In addition to providing lifelong protection, it offers long-term wealth growth potential to help you preserve your legacy and build a solid financial foundation for future generations.
  • The Plan helps you get the most out of your wealth by providing potential long-term return with a 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 or when the Policy reaches its Maturity Date. We may also pay the non-guaranteed Terminal Dividend (if any) when you surrender the Policy, claim the Death Benefit, or when the Policy reaches its Maturity Date.
Terminal Dividend Lock-in Option for securing your wealth
At a time when the economic outlook is becoming more uncertain, it is important to take steps to minimize the potential impact market instability will have on your wealth.
  • Starting from the 15th Policy Anniversary (for 5-year or 10-year Premium payment term) or the 25th Policy Anniversary (for 20-year Premium payment term), 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%, subject to the Company’s approval
  • You can choose one of the options: allocate the Lock-in Amount to the Settlement Deposit Account for accumulating non-guaranteed interest or cash it out fully
Preparing for the unexpected by appointing a Successor Owner
When it comes to arranging your succession, you don’t want to leave anything to chance. It is therefore crucial that you have the ability to plan ahead and cover contingencies.
  • While the Policy is in force, during the Insured’s and your lifetime, you can name a person as 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.
Greater flexibility to secure business continuity
You have worked hard to build your business. To ensure its long-term viability, you need to ensure that your most valuable employees are well protected.
  • Key employees are important assets to your business. As a corporate owner, you need a reliable solution to cope with various challenges.  The Plan’s Keyman Policy Conversion Option can be a viable solution for you when there are changes on the management plan. The loss of a key person can have a major impact on your business. In the unfortunate event of the death of a valuable employee, the Death Benefit offered under the Plan can help reduce the potential loss of profits and provide liquidity, so you can rest assured that the financial position of your business is well protected.

 

 

 

Policy Reverse Mortgage Programme

Chubb Supreme Life Insurance Plan II (Regular Premium) is an eligible life insurance plan under the Policy Reverse Mortgage Programme, offering a stable income stream to help you achieve a carefree retirement life.

 

 

Important notes for Policy Reverse Mortgage Programme (“PRMP”)



Please note that Chubb Supreme Life Insurance Plan II (Regular Premium) is an eligible life insurance plan under the 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. You and your life insurance policy are required to meet all 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. 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.  You are advised to visit The Hong Kong Mortgage Corporation Limited's website from time to time to obtain the latest and most updated information regarding PRMP.  The PRMP 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.


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.

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