Plan for your retirement and wealth distribution - Superior Harvest Income Plan - Tahoe Life

Superior Harvest Income Plan

Savings Product

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Throughout the life journey, people are working hard for their dreams and hope to build a comprehensive plan for a flourishing future for themselves and their beloved. Tahoe Life’s Superior Harvest Income Plan (the “Plan”) provides you with extended income period and change of insured option. You can distribute your wealth to yourself, your beloved and your future generation according to your wishes.

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Features

Guaranteed Cash Payment Every Year up to Age 130 of the Initial Insured and Additional One-off Special Booster at a Designated Time

The guaranteed cash payment1,2, 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 benefit2,4, will be payable on the 1st policy anniversary date and every policy anniversary date thereafter until age 130 of the initial insured3, the surrender of the policy or the death of the insured, whichever is earlier.

 

An additional one-off special booster1,2 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 benefit2,4, will be payable on the 15th policy anniversary date or at age 65 of the initial insured, whichever is later.

 

You may choose to leave the guaranteed cash payments in the policy to earn interest5, receive them in cash or apply them towards future premium payments.

Extended Income Period

You may exercise the income option2 starting from the 10th (applicable to 6-year premium payment term) or 15th (applicable to 9-year and 12-year premium payment terms) policy anniversary date. According to your needs, you may choose to receive income payments for a period of 10 years, 20 years or up to age 130 of the initial insured.

 

During the period of income option is exercised6, you will receive income payment on a yearly basis. The balance of the income benefit will be accumulated at an interest rate7 to further provide you with potential growth for your wealth.

 

While choosing the income period, you may also choose the death benefit option if the insured unfortunately passes away during the income period:

 i. pay the balance of income benefit to the beneficiary in a lump sum payment; or

 ii. continue to pay the income payment(s) to the beneficiary until the end of the chosen income period.

Extended Protection Period and Change of Insured Option

The Plan provides extended life protection up to age 130 of the initial insured. Upon completion of premium payment term of the Plan and during the lifetime of the insured, regardless of whether the income option is exercised, you may change the insured8 according to your plan; so your beloved and future generation can also be protected. The Plan will continue to be effective until age 130 of the initial insured, making it a meaningful gift for your future generation.

Three Premium Payment Terms at Choice and Premium Prepayment Option

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.

 

For 6-year premium payment term, you can choose to prepay all the future premiums at the time of policy application9. The prepaid premium will be accumulated at an interest rate10 and this will be used to settle the renewal premium when due.

Annual Dividends and Terminal Dividend

An annual dividend2,5 will be payable on the policy anniversary date. You may choose to leave the annual dividends in the policy to earn interest, receive them in cash or apply them towards future premium payments.

 

If the policy has been effective for 10 years, it will also bring you additional returns by providing a one-off terminal dividend2,5 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.

Savings and Life Insurance in One

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No Medical Underwriting

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Accidental Death Benefit and Disability Benefit

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Optional Supplementary Contracts (Not Available for Premium Prepayment Option)

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Call (852) 3767 9188 or

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Plan for your retirement and wealth distribution - Superior Harvest Income Plan - Tahoe Life

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Brochure
About Policy Dividends & Investment Policy
  1. The guaranteed cash payment will be calculated based on the latest guaranteed maturity benefit, and payable when the income option is not exercised.
  2. The income option can be exercised for one time only during the term of the policy and subject to any prevailing rules determined in the sole discretion of Tahoe Life from time to time. Upon the income option is exercised, maturity benefit, surrender benefit and guaranteed cash value are no longer applicable to the policy. Tahoe Life will no longer pay any annual dividend, terminal dividend or guaranteed cash payment.
  3. Initial insured means the insured whose life is insured by the policy at the commencement of the policy.
  4. The guaranteed maturity benefit is used to calculate premium, guaranteed cash value, guaranteed cash payments, annual dividends and terminal dividend. In case the guaranteed maturity benefit is reduced while the policy is effective, the premium and benefit amounts payable will be reduced accordingly. The guaranteed maturity benefit is not equal to the death benefit and will not be paid upon the death of the insured. For details of the death benefit, please refer to the policy contract of the Plan.
  5. The Plan is a participating policy. Annual dividends and terminal dividend are not guaranteed, subject to change and will be determined by Tahoe Life from time to time. Annual dividends will only be payable when the policy is effective and there are no overdue premiums. The interest rates for annual dividends and guaranteed cash payments accumulation are not guaranteed, subject to change and will be determined by Tahoe Life from time to time. For details of the policy dividends, please refer to the below section on “About Policy Dividends” or visit Tahoe Life’s website, https://www.tahoelife.com.hk/tl/doc/pd_en.pdf.
  6. Upon the income option is exercised, the surrender benefit will be converted into an income benefit, under which an income payment will be paid to policyowner on a yearly basis during the chosen income period. The income payment shall be projected based on the income benefit and a non-guaranteed interest rate. The balance of the income benefit after deducting the income payment(s), will be accumulated at such non-guaranteed interest rate. Policyowner may apply to Tahoe Life in writing in the form that is required by Tahoe Life to terminate the income option during the income period in exchange for the balance of the income benefit. The policy will terminate after Tahoe Life pays you the balance. For details of income option, please refer to the policy contract of the Plan. For the projected annual income payment, please refer to the proposal .
  7. Accumulation interest rate for the balance of the income benefit is not guaranteed, subject to change and will be determined by Tahoe Life from time to time.
  8. Change of insured is subject to the prevailing administrative rules, please refer to the relevant policy contract. Change of new insured will not affect guaranteed maturity benefit, death benefit, accumulated annual dividends and interest (if any), accumulated guaranteed cash payment and interest (if any), terminal dividend (if any), guaranteed cash value, the balance of the income benefit (if any), policy date, maturity of the policy and policy year. Tahoe Life reserves the right to reject the application of change of insured.
  9. The premium must be paid by annual payment. The application of prepayment of renewal premium ("prepaid premium") can only be valid when the prepaid premium is fully paid at the time of policy application together with the filled application form and signed illustration of prepayment option. The prepaid premium will only be used for the settlement of renewal premium due. Prior to the settlement of renewal premium due, the prepaid premium will be kept in a designated account of the policy but will not form part of the paid premium until it is payable. The prepaid premium will not form part of the guaranteed cash value or any benefit under the policy and will not be attributed to the calculation of death benefit. If the insured passes away before the end of the premium payment term, the remaining balance of prepaid premium shall be returned to the policyowner or his/her estate. Upon policy surrender or full withdrawal of the balance of the prepaid premium before the end of the premium payment term, the surrender benefit or amount being withdrawn shall be returned to the policyowner, and any interest on the balance of the prepaid premium of that policy year will be forfeited.
  10. Accumulation interest rate for prepaid premium is not guaranteed, subject to change and will be determined by Tahoe Life from time to time.
  11. The accidental death benefit shall be automatically terminated on the 10th policy anniversary date, the policy anniversary date on or immediately following the 70th birthday of the initial insured or the effective date of the new insured, whichever is earlier. This accidental death benefit is only applicable to the initial insured who is aged 65 or below on the policy date. The maximum benefit payable under the accidental death benefit to each initial insured in Tahoe Life shall be USD 25,000, irrespective of the number of policies (excluding investment linked policy) issued by Tahoe Life for the same initial insured.
  12. Disability benefit is only applicable to the initial insured who is aged 55 or below on the policy date and will be automatically terminated on the policy anniversary date on or immediately following the 60th birthday of the initial insured.
  13. Full underwriting  is required for adding supplementary contract. Please refer to the respective policy contract for the details of each supplementary contract. In the event of change of insured, all supplementary contracts will be terminated on the effective date of new insured and no supplementary contract can be attached to the policy thereafter.