Promise Wealth Savings Protection Plan

The guaranteed cash payment, equivalent to 1.5% (applicable to 6-year premium payment term) or 2% (applicable to 9-year and 12-year premium payment terms) of the guaranteed maturity benefit³, will be payable on the first policy anniversary date and every policy anniversary date thereafter up to age 100 of the initial insured, the surrender of the policy or the death of the insured, whichever is earlier.

An additional one-off special booster of guaranteed cash payment, equivalent to 1.5% (applicable to 6-year premium payment term) or 2% (applicable to 9-year and 12-year premium payment terms) of the guaranteed maturity benefit, will be payable on the 15th policy anniversary date or on the policy anniversary date at or immediately following age 65 of the initial insured, whichever is later.

You may choose to accumulate the guaranteed cash payments in the policy to earn interest⁴, receive them in cash or apply them towards future premium payments.

An annual dividend will be payable on the policy anniversary date. You may choose to accumulate the annual dividends in the policy to earn interest⁴, receive them in cash or apply them towards future premium reduction.

If the policy has been effective for ten years, the Plan will also bring you additional returns by providing a one-off terminal dividend upon the surrender of the policy, the maturity of the policy or the death of the insured. Both the annual dividends and terminal dividend are not guaranteed.

The Plan offers terminal dividend lock-in option, allowing you to lock-in part of the terminal dividend and accumulate it as part of annual dividend for interest accumulations (“terminal dividend lock-in”), enabling you to raise the cash reserve and handle your financial needs in different life stages. On or after the 10th policy anniversary date, you may submit a written application to apply for terminal dividend lock-in according to your need. Each time you can lock-in a percentage of 10% of terminal dividend or above, and the total percentage of lock-in is capped at 60% of terminal dividend, while a three-year or above interval between each lock-in is required.

To fit your financial situation, the Plan offers three premium payment terms: 6 years, 9 years and 12 years. The premium is guaranteed to remain unchanged once it is determined and will not be increased with your age, facilitating better financial planning for your future.

The Plan provides life protection up to age 100 of the initial insured. After the first policy anniversary date and during the lifetime of the insured, you may change the insured according to your plan; so you, your beloved and future generation can also be protected. The policy will continue to be effective up to age 100 of the initial insured, making it a meaningful gift for your future generation.

You can nominate a contingent owner once the policy becomes effective. Should the policyowner unfortunately pass away, the nominated contingent owner will become the new owner of the policy and can continue to exercise the rights under the policy without waiting for the completion of the probate.

Moreover, you can also nominate a contingent insured after the first policy anniversary date. Should the insured unfortunately pass away, the contingent insured will become the new insured, the Plan will continue to be effective until age 100 of the initial insured, helping you transfer your wealth to your next generation.

The Plan provides savings returns as well as life insurance up to age 100 of the initial insured, offering comprehensive protection for you and your loved ones. In the unfortunate event of the death of the insured, the designated beneficiary will receive the death benefit which is equivalent to the guaranteed cash value at the date of death or total premium due and paid of the basic plan of the policy less all guaranteed cash payments paid to you (whether accumulated or withdrawn) at the date of death, whichever is higher; plus accumulated guaranteed cash payments and interest⁴ (if any), accumulated annual dividends and interest⁴ (if any) and terminal dividend (if any), less any indebtedness of the policy.

Instead of a lump-sum payment of death benefit, you may choose a monthly instalment with fixed amount⁹ for settling the death benefit to your designated beneficiary(ies). So you are in control of the future financial arrangement for the loved ones, and your legacy and love can live on.

If you choose to settle the death benefit by monthly instalment with fixed amount, premium payment term of the policy must be completed and the death benefit amount must be at least equal to USD125,000. The monthly instalment with fixed amount is determined by a percentage of the death benefit while the minimum total monthly amount is 1% of the death benefit¹⁰. The unpaid balance of the death benefit will be accumulated at an interest rate¹¹ to enhance the potential growth for your legacy.

The Plan provides an accidental death benefit for the initial insured. Its coverage is equivalent to 75% of the total basic plan premium due and paid of the basic plan of the policy, up to USD 50,000 (per initial insured), providing added protection to you and your loved ones.

Moreover, in order to keep your protection intact, the premiums of the basic plan of the policy payable during the continuance of the total disability will be waived if the initial insured suffers from total disability due to disease or bodily injury between age 16 and 60 for a continuous period of 180 days or above.

In case you or the insured is unemployed for at least 30 consecutive days or suffer from one of the critical illnesses including cancer, heart attack, kidney failure, stroke or undergoing a coronary artery bypass surgery, you can apply for extending the grace period of the Plan from 31 days to a maximum of 365 days, during which you will still enjoy the coverage of the Plan. You may pay the premium due without interest by the end of the extended grace period and the policy will still remain effective.

If you apply for the basic plan only, simple and hassle free application with no health declaration and medical underwriting are required.

According to your personal needs, you may choose to enhance the protection by adding various supplementary contracts, such as medical, critical illness, accidental and premium waiver supplementary contracts.