Ever Shine Savings Insurance Plan

Striving to accelerate guaranteed / projected breakeven period², your choice for stable wealth accumulation

The guaranteed breakeven period of this Plan is as short as 7 years², and projected breakeven period even as short as 4 years². At the same time, this Plan allows regular withdrawals, just like creating your own pension or education fund, which suits those preparing for their retirement or planning for their children’s future. The term of the Policy is up to age 128 of the Insured, providing ultra long-term wealth growth opportunities. The plan also provides Guaranteed Cash Value, non-guaranteed annual dividends⁹ and non-guaranteed terminal dividends⁹, allowing your wealth to grow continuously.

Enjoy Guaranteed Cash Value upon Policy starts

The Plan provides Guaranteed Cash Value as high as 83%² of Total Premiums Paid¹⁰ upon Policy issuance. Apart from wealth growing potential, it gives you financial flexibility.

Policy Split Option¹ allows flexible assets planning

After the end of the 5^th Policy Year and while the Policy is in force, you may split the existing Policy into two, which means the Units of the basic plan under the existing Policy will be partially allocated to a separate Policy (the “Split Policy”). After the Policy Split Option¹ has been exercised, the basic plan of the existing Policy will remain in force and the Policy Effective Date will remain unchanged. Other policy information and instructions under the Split Policy will be the same as the basic plan of the existing Policy except the Unit, Total Premiums Paid¹⁰, Guaranteed Cash Value, accumulated annual dividends and interest⁹ (if any) and terminal dividend⁹ (if any).

After Split, you can change other policy options / instructions at anytime. You can exercise Policy Split Option¹ once per Policy Year. Policy Split Option¹ is also applicable to the Split Policy, maximizing the power of assets allocation. 

Dual Succession Scheme allows wealth to be passed on from generation to generation

• Unlimited changes of the Insured and protection of new Insured up to age 128³, to pass on wealth to your next generations infinitely

  After the 6^th Policy Monthly Anniversary, you may change the Insured³ for unlimited times. The coverage period will be adjusted to age 128 of the new Insured (“Changed New Insured”), allowing the Policy to have sufficient time for wealth accumulation and can be passed to the next generations.

• Policy Continuation Option (to the Beneficiary)⁴ allows the Policy to be passed on

  Apart from unlimited changes of the Insured³, the Plan also specially provides the “Policy Continuation Option”⁴. While the Insured is alive and the Policy is in force, the Owner can assign a Beneficiary. Upon the death of the Insured, the Beneficiary will become the new Owner (if applicable) and the new Insured (the “Continued New Insured”). Even if the Insured unexpectedly passes away, the Policy can still be passed on to the next generations. The coverage period will also be adjusted to age 128 of the Continued New Insured. 

Terminal Dividend Lock In Options⁵ turns “expectation” into “guarantee”

To protect your wealth against market volatility, you can choose to apply for one of the following Terminal Dividend Lock In Options⁵ to convert and accumulate your terminal dividend⁹ in the form of annual dividends⁹ or withdraw it in times of need as early as the 10^th Policy Anniversary. The converted terminal dividend⁹ will become guaranteed and bring you a stable return. Terminal dividend⁹ which has been converted and accumulated into annual dividends⁹ can also earn interest (if any).

1)   Automatic Lock In Option⁵

Starting from the 10^th Policy Anniversary or the Policy Anniversary immediately follows the Insured reaches the retirement age selected by you (must be 55 years old or above), whichever is later, we will automatically convert terminal dividend⁹ into annual dividend⁹ on each Policy Anniversary, which is equivalent to 8% of Total Premiums Paid¹⁰, until the balance of terminal dividends⁹ falls to 30% of Total Premiums Paid¹⁰ at certain Policy Year after conversion.

2)   Manual Lock In Option⁵

Starting from the 10^th Policy Anniversary, you can apply to convert part of the terminal dividend⁹ on your choice into annual dividend⁹ on your designated Policy Anniversary(ies). 10% or above of terminal dividend⁹ can be converted each time, up to a total of 60%, while a 3 years or above interval between each conversion is required.

Flexible settlement options for Death Benefit⁶ or Full Surrender⁷ for your peace of mind

1)   Death Benefit Settlement Options⁶

While the Insured is still alive and the Policy is in force, the Owner can choose from the following Death Benefit Settlement Options flexibly regarding payment of Death Benefit to different Beneficiary(ies) in the unfortunate event of the Insured’s death. It allows each Beneficiary to have the most appropriate arrangement:

i) A lump sum payment; or

ii) Regular installment payment⁶ – Monthly, semiannually or annually over 10, 20 or 30 years; or

iii) Increasing installment payments⁶ – The Beneficiary can receive a specified amount of first installment of Death Benefit monthly, semi-annually or annually. Such installments will be increased by 3% each year beginning from the 2^nd year until all Death Benefit and /or accumulated interest¹¹ (if any) are fully paid; or

iv) A lump sum payment for a specified percentage of the Death Benefit, such percentage must be equal to or more than 5% of the Death Benefit ,and the remaining will be paid by regular installment payments⁶.

For Death Benefit to be paid to the Beneficiary(ies) at regular installment / increasing installment payments, the remaining amount of Death Benefit (after deduction of a lump sum payment of a certain percentage of the Death Benefit, if applicable) must be at least USD 50,000. The amount of Death Benefit which is yet to be paid under the Death Benefit Settlement Option can also earn interest¹¹ (if any).

2)   Full Surrender Settlement Options⁷

Once the Policy has been in force for 5 years, and if the Owner fully surrenders⁷ the Policy. Other than a lump sum payment, the Owner can also choose one of the following options to receive the surrender payment if the surrender payment is at least USD 50,000:

i) Payments at regular⁷ – Monthly, semi-annually or annually over 10, 20 or 30 years; or

ii) Increasing payments⁷ – You can specify the first installment of surrender amount to be received monthly, semi-annually or annually. Such installment will be increased by 3% each year beginning from the 2^nd year until all surrender value and / or accumulated interest¹¹ (if any) are fully paid. The amount of the surrender payment which is yet to be paid can also enjoy an interest¹¹ (if any).

No medical underwriting – hassle-free application

The application process of the Plan is simple, and no medical check-up is required. This allows you to accumulate wealth with ease.

Free worldwide emergency assistance service¹²

Once enrolled in this Plan, you will have access to free 24-hour worldwide emergency assistance for immediate support wherever you may be. The maximum benefit (per incident) reaches up to USD 1,000,000, including services of emergency evacuation or repatriation and delivery of mortal remains.

Remarks:

1. While the Policy is in effect and from the end of the 5^th Policy Year, you may exercise Policy Split Option to create a separate Policy (the “Split Policy”), allocating a portion of Unit from the basic plan of the Policy to the Split Policy but subject to the following conditionswithout providing any evidence of insurability: (i) after the Policy Split Option has been exercised (the “Split”), the respective Unit of the basic plan of the Policy and Split Policy must not be less than the minimum Unit amount we permit at the time of your request; (ii) the Insured of the Split Policy must be the same as the Insured of the basic plan of the Policy; (iii) no claim is in progress under the basic plan of the Policy upon request exercising this option; (iv) your request for the Policy Split Option cannot be changed or withdrawn once it is submitted; (v) any Indebtedness under the basic plan of the Policy must be fully repaid before we approve your request ; and (vi) Policy Split Option can only be exercised once during a Policy Year. After the Split is approved, (i) the provisions of the Split Policy will be the same as the basic plan of the Policy unless otherwise specified; (ii) the Unit, Guaranteed Cash Value, accumulated annual dividends and interest (if any) and terminal dividends (if any) of the basic plan of the Policy will be reduced and transferred to the Split Policy according to the ratio of the Unit allocated to the basic plan of the Policy and the Split Policy. We will determine the existing and future amounts of Guaranteed Cash Value, annual dividend (if any) and terminal dividend (if any) respectively for both the basic plan of the Policy and the Split Policy according to your allocation of the Units; (iii) the Total Premiums Paid for both the basic plan of the Policy and Split Policy will be adjusted according to your allocation of Units and will be used to calculate Death Benefit; (iv) the Beneficiary(ies), Owner, Contingent Owner (if designated), Initial Insured, Insured, Policy Date, Policy Effective Date and Policy Years of the basic plan of the Policy will remain unchanged and the Split Policy will have the same Beneficiary(ies), Owner, Contingent Owner (if designated), Initial Insured, Insured, Policy Date, Policy Effective Date and Policy Years of the basic plan of the Policy; (v) previous instruction(s) made under the basic plan of the Policy including but not limited to Terminal Dividend Lock In Option, Death Benefit Settlement Option and Policy Continuation Option will also apply to the Split Policy unless otherwise specified. The Split Policy will be effective only after its Policy provisions and Policy specifications are issued. Please refers to the Policy Provision for more details of Policy Split Option. 
2. Guaranteed breakeven period as short as 7 years / projected breakeven period even as short as 4 years and Guaranteed Cash Value reaching 83% of Total Premiums Paid upon Policy issuance is applicable to all Policy(ies) that meet the minimum premium requirement of this product. The guaranteed breakeven period / projected breakeven period refers to the Policy Year which the Guaranteed Cash Value / Projected Total Cash Value is equal to or greater than the Total Premiums Paid for the first time by the end of such Policy Year.
3. Changing the Insured is subject to the prevailing administrative rules and designated requirements. The Unit, total amount of Cash Value (including guaranteed and non-guaranteed), Policy Date and Policy Year will remain unchanged on the Insured- Change Effective Date while the Plan End Date of the basic plan of the Policy will be adjusted to the date of Policy Anniversary on the 128^th birthday of the Changed New Insured or following the 128^th birthday of the Changed New Insured (whichever is applicable). The Changed New Insured must be aged 65 years of age (last birthday) or below and must not be older than the initial Insured by 10 years. The change of Insured must be endorsed by the Owner, proposed new Insured and Assignee (if any). Both the new Insured and the current Insured must be alive and the Policy is in force at the time the Insured is changed and provided with satisfactory proof of evidence of insurability for the proposed new Insured. We shall cease to provide any coverage for the initial Insured or the prior Insured on our record (when applicable and as the case may be) as from the Insured-Change Effective Date. Please refer to the Policy Provisions for details of Changing of Insured Option.
4. Upon the death of the Insured, if the Owner (still alive) and the Insured are different persons, the Beneficiary will become the Continued New Insured. Upon the death of the Insured, if the Owner died at the same time or the Owner and the Insured are the same person, the Beneficiary will become the new Owner and Continued New Insured of the Policy, subject to the prevailing administrative rules of the Company. After this option has been exercised, all Units, Total Premiums Paid, Guaranteed Cash Value, accumulated annual dividends and interest (if any), terminal dividend (if any), Policy Date and Policy Years will remain unchanged on the Policy Continuation Effective Date. Plan End Date of the basic plan of the Policy will be adjusted to the date of Policy Anniversary on the 128^th birthday of the Continued New Insured or following the 128^th birthday of the Continued New Insured (whichever is applicable). The surrender payment may be equal to or lower than Death Benefit before this option has been exercised. If the Death Benefit Settlement Option has already been selected, you shall cancel the Death Benefit Settlement Option arrangement before your submission of any written request for the Policy Continuation Option. Please refer to the Policy Provisions for details of Policy Continuation Option.
5. You can apply changes between Automatic Lock In Option / Manual Lock In Option for unlimited times before exercising the Terminal Dividend Lock In Options. Once the option has been exercised, no change can be made. The actual amount of converted terminal dividend through Manual Lock In Option will be determined after the application is approved. The amount may be lesser or higher than the amount shown at the time when you submit your application. After the conversion of terminal dividend, your future terminal dividend will be reduced accordingly. All terminal dividend not yet be converted can be higher or lower or reduced to zero. While the Automatic Lock In Option is in force, the option will be immediately suspended upon partial surrender, and you have to submit a request to resume Automatic Lock In Option. Please refer to the Policy Provisions for details of Terminal Dividend Lock In Options. 
6. If the Owner opts for by payment of a specified percentage of the Death Benefit in a lump sum and the remaining balance by regular installments, the lump sum amount should equal to or greater than 5% of the Death Benefit. However, interest on unpaid Death Benefit is not guaranteed, therefore interest may be less than expected and the actual payout period may be shorter than the selected period. Only lump sum Death Benefit is applicable if an assignment is made. If the Beneficiary(ies) die(s) while receiving the Death Benefit payments, the remaining amount will be paid to the Beneficiary(ies)’ estate. If no Beneficiary(ies) survives upon the death of the Insured yet the Owner is still alive, the Death Benefit will be paid to the Owner in accordance with the Death Benefit settlement option. Owner may also request to receive the Death Benefit in lump sum. If the Owner dies while receiving the Death Benefit payment, the remaining Death Benefit will be paid in a lump sum to the Owner’s estate. This benefit is not available for the Policy with Policy Continuation Option being exercised. Please refer to the Policy Provisions for details of Death Benefit Settlement Option.
7. Upon full surrender, the Owner may choose to receive surrender payment in a fixed amount on payments at regular intervals or by increasing payments. However, interest on unpaid surrender payment is not guaranteed, therefore interest may be less than expected and the actual payout period may be shorter than the selected or expected period. If the Owner dies while receiving the surrender payments and / or accumulated interest (if any), the remaining surrender payment and / or accumulated interest (if any) will be paid in lump sum to the Owner’s estate. Please refer to the Policy Provisions for details of Full Surrender.
8. Total Premiums Paid is defined as the total amount of premium(s) due and paid for the basic plan of the Policy or Split Policy (if created pursuant to Policy Split Option provision) up to the date of death of the Insured but before any other premium discount (if any); pro-rated by the ratio of remaining Units at the time of death of the Insured to the Units at Policy issuance.
9. Annual dividend, terminal dividend and interest from accumulated annual dividend are not guaranteed. However, once distributed, the amount of the annual dividend and the accumulated interest will become guaranteed. An annual dividend may be payable at the sole discretion of the Company on each Policy Anniversary after the Policy has been in force for a minimum number of Policy Years to be determined by the Company and provided that all premiums due have been paid up to each relevant Policy Anniversary. The amount of annual dividend will be determined by the Company at its sole discretion. The amount of terminal dividend in each declaration may be greater or less than the previous amount based on a number of factors, including but not limited to investment returns and general market volatility. We will pay out the annual dividend and terminal dividend after deduction of any Indebtedness owing under the Policy or the Split Policy.
10. Total Premiums Paid is defined as the total amount of premium(s) due and paid for the basic plan of the Policy or Split Policy  (if created pursuant to the Policy Split Option provision) but before any other premium discount (if any); pro-rated by the ratio of remaining Units after partial surrender to the Units at Policy issuance; if the Policy is partially surrendered, the Total Premiums Paid will be proportionately reduced. 
11. The current interest rate offered is 2% p.a., but it is not guaranteed. 
12. Free Worldwide Emergency Assistance Services are provided by the third party service provider. We reserve the right to change the terms and conditions of Free Worldwide Emergency Assistance Service and assumes no responsibility of the services provided by the third party service provider.
13. The minimum single premium does not include any other premium discount (if any).