Well Enjoy Deferred Annuity Plan (Enrich)

Product Type

Basic Plan

Issue Age

Age 18 to age 65

Policy Currency

HKD / USD

Premium Payment Term

5 years / 10 years

Annuity Period

10 years / 20 years

Accumulation Period

Issue Age 18 to Age 39︰Till annuitant's age 50

Issue Age 40 to Age 65︰10 years

Accumulation Period starts from policy effective date to the end date stated above. It refers to a period without annuity payment to allow for accumulation of premium paid.

Minimum Premium Amount

5-year premium payment term

Annual pay: HKD42,000 / USD5,400 per year        

Monthly pay: HKD3,696 / USD476 per month

10-year premium payment term

Annual pay: HKD21,000 / USD2,700 per year

Monthly pay: HKD1,848 / USD238 per month

Annuity

Monthly annuity amount equal to the sum of guaranteed annuity amount and non-guaranteed annuity amount (if any). Non-guaranteed annuity amount is not guaranteed and is determined by the Company in its absolute discretion from time to time.

Annuity Payment Start Time

• Issue age between 18 and 39 – Applicable for all available options of policy currency (HKD/USD), premium payment term (5/10 years), annuity period (10/20 years) and premium payment mode (annual/monthly) under the Plan. Start to receive your monthly annuities when you reach age 50^#.
• Issue age between 40 and 65 – Accumulation period is 10 years under all available options of policy currency (HKD/USD), premium payment term (5/10 years), annuity period (10/20 years) and premium payment mode (annual/monthly) under the Plan. Start to receive your monthly annuities from the 11^th policy year.

^{# First annuity payable on the policy anniversary immediately following the annuitant reaching age 50.}  

Annuity Options

Two options for selection:

• Option 1: Paid in cash (Default option)
• Option 2: Leave with the Company to accumulate at a non-guaranteed interest rate as may be declared by the Company from time to time

If no option is elected, Option 1 will be applied automatically. You can change your annuity option without any charges.

Internal Rate of Return (IRR) Annuity period (20 Years)

IRR^{^} below is for illustration only:

Issue Age: Age 45

Premium payment term: 5 years

Accumulation period: 10 years

Annuity period: 20 years

Policy Currency

HKD    

Guaranteed IRR: 1.32% - 1.60% p.a.

Total IRR: 3.16% - 3.40% p.a.

USD    

Guaranteed IRR: 1.52% - 1.80% p.a.

Total IRR: 3.36% - 3.60% p.a.

Issue Age: Age 45

Premium payment term: 10 years

Accumulation period: 10 years

Annuity period: 20 years

Policy Currency

HKD   

Guaranteed IRR: 1.33% - 1.65% p.a.

Total IRR: 3.17% - 3.45% p.a.

USD   

Guaranteed IRR: 1.53% - 1.85% p.a.

Total IRR: 3.37% - 3.65% p.a.

^{^ The internal rate of return (IRR) is subject to the Annuitant's issue age, your chosen policy currency, premium payment term, annuity period and premium payment mode. The above shows the range for guaranteed internal rate of return and total internal rate of return at maturity for monthly and annual premium payment modes.}

Internal Rate of Return (IRR) Annuity period (10 Years)

IRR^ below is for illustration only:

Issue Age: Age 45

Premium payment term: 5 years

Accumulation period: 10 years

Annuity period: 10 years

Policy Currency

HKD   

Guaranteed IRR: 1.00% - 1.40% p.a.

Total IRR: 2.87% - 3.20% p.a.

USD   

Guaranteed IRR: 1.22% - 1.60% p.a.

Total IRR: 3.07% - 3.40% p.a.

Issue Age: Age 45

Premium payment term: 10 years

Accumulation period: 10 years

Annuity period: 10 years

Policy Currency

HKD    

Guaranteed IRR: 0.96% - 1.45% p.a.

Total IRR: 2.81% - 3.22% p.a.

USD    

Guaranteed IRR: 1.18% - 1.65% p.a.

Total IRR: 3.03% - 3.43% p.a.

^{^ The internal rate of return (IRR) is subject to the Annuitant's issue age, your chosen policy currency, premium payment term, annuity period and premium payment mode. The above shows the range for guaranteed internal rate of return and total internal rate of return at maturity for monthly and annual premium payment modes.}

Death Benefit

During accumulation period:

the higher of:

(a) 105% of the total premium paid at date of death of the annuitant; or

(b) guaranteed cash value

Any indebtedness will be deducted from death benefit payment.  

During annuity period:

(i) the higher of:

(a) 105% of the total premium paid at date of death of the annuitant less total guaranteed annuity distributed; or

(b) guaranteed cash value; plus

(ii) any annuity* left with the Company for accumulation and interest (if any) as at the date of death of the annuitant

Any indebtedness will be deducted from death benefit payment.

^{* With interest at a non-guaranteed interest rate as may be declared by the Company from time to time.}

Surrender Benefit

During accumulation period:

(i) guaranteed cash value; less

(ii) any indebtedness 

During annuity period:

(i) guaranteed cash value; plus

(ii) any annuity* left with the Company for accumulation and interest (if any) as at the effective date of surrender

Any indebtedness will be deducted from Surrender Benefit.

^{* With interest at a non-guaranteed interest rate as may be declared by the Company from time to time.}

Maturity benefit

Shall equal to:

(i) any annuity* left with the Company for accumulation and interest (if any) ; less

(ii) any indebtedness

^{* With interest at a non-guaranteed interest rate as may be declared by the Company from time to time.}