Summary

Guaranteed crediting
interest rate(%)
Total
Premium Paid* (US$HK$)
Account Value/
(US$HK$) Surrender Benefit (US$HK$)
Death Benefit (US$HK$)

*Any premium discount will not be shown here.

Crediting interest rate(%)

Crediting
interest rate(%)
Total
Premium Paid* (US$HK$)
Account Value/
(US$HK$) Surrender Benefit (US$HK$)
Death Benefit (US$HK$)

*Any premium discount will not be shown here.

Crediting
interest rate(%)
Total
Premium Paid* (US$HK$)
Account Value/
(US$HK$) Surrender Benefit (US$HK$)
Death Benefit (US$HK$)

*Any premium discount will not be shown here.

Crediting
interest rate(%)
Total
Premium Paid* (US$HK$)
Account Value/
(US$HK$) Surrender Benefit (US$HK$)
Death Benefit (US$HK$)

*Any premium discount will not be shown here.

Credit Risk

This Product is an insurance policy issued by FWD Life Insurance Company (Bermuda) Limited (“FWD”). The application of this insurance product and all benefits payable under your policy are subject to the credit risk of FWD. You will bear the default risk in the event that FWD is unable to satisfy its financial obligations under this insurance contract.


Liquidity Risk

This Product is a long term insurance policy. This policy of long term insurance will be made for certain determined term of years starting from the Commencement Date to the Expiry Date. The policy contains value and, if you surrender your policy/partially surrender from the account value in the early policy years or before the end of the benefit term, you will suffer a loss of future crediting interests and insurance coverage. Application of the Product may constitute the liquidity risk to your financial condition. You need to bear the liquidity risk associated with the Product.


Exchange Rate and Currency Risk

The application of this insurance product with the policy currency denominated in a foreign currency is subject to that foreign currency’s exchange rate and currency risk. The foreign currency may be subject to the relevant regulatory bodies’ control (for example, exchange restrictions). If your home currency is different from the policy currency, please note that any exchange rate fluctuation between your home currency and the policy currency of this insurance product will have a direct impact on the amount of premium required and the value of the benefit(s) to be received. For instance, if the policy currency of the insurance product depreciates substantially against your home currency, the potential loss arising from such exchange rate movement may have a negative impact on your benefits to be received from the product and your burden of the premium payment.


Inflation Risk

The cost of living in the future may be higher than now due to the effects of inflation. Therefore, the benefits under this policy may not be sufficient for the increasing protection needs in the future even if FWD fulfils all of the contractual obligations.


Early Surrender Risk

If you surrender your policy/partially surrender from the account value in the early policy years or before the end of the benefit term, or cease paying premiums early, you will suffer a loss of future crediting interests and insurance coverage.


Termination Conditions

The Basic Policy shall terminate on the earliest of the following: 1. The Death of Insured 2.The Expiry Date of the Policy 3. The date of policy surrender as determined in accordance with FWD’s applicable rules and regulations in relation to policy surrender 4. When the Account Value is less than zero.


Protection Rider

The Term Life Benefit/Accidental Death Benefit Riders shall terminate on the earliest of the following:

  1. The Death of Insured
  2. The Expiry Date of the Rider
  3. The date of policy surrender of the Basic Policy as determined in accordance with FWD’s applicable rules and regulations in relation to policy surrender
  4. The date the Basic Policy is otherwise terminated
  5. When the Account Value is less than zero.

The Cancer Benefit Rider shall terminate on the earliest of the following:

  1. The Death of Insured
  2. The payment of the Cancer Benefit
  3. The Expiry Date of the Rider.
  4. The date of policy surrender of the Basic Policy as determined in accordance with FWD’s applicable rules and regulations in relation to policy surrender
  5. The date the Basic Policy is otherwise terminated.
  6. When the Account Value is less than zero.

Non-guaranteed Benefits

Non-guaranteed benefits (including Crediting Interest Rate, excluding the first five policy years) are not guaranteed and are determined at FWD’s discretion based on its Crediting Interest Rate philosophy.


Premium Term and Non-payment of Premium (Applicable to Monthly Regular Contribution Plan only)

The premium payment term of the policy ends on the policy anniversary immediately preceding the Insured’s 100th birthday. FWD allows a Grace Period of 30 days after the premium due date for payment of each premium. If a premium is still unpaid at the expiration of the Grace Period, FWD will apply Premium Holiday to the policy. While the policy is on Premium Holiday, FWD will use the Account Value to pay the Basic Premium and relevant charges (if any) due under the Policy. Any relevant charges will continue to be deducted from the Account Value. When the Account Value is either insufficient to meet the Basic Premium and relevant charges (if any), or is less than zero, the Policy shall automatically be terminated. Please note that once the policy is terminated on this basis, you will lose all of your benefits.

If the death of the Insured is caused directly or indirectly by the wilful participation of the Insured, Policy Owner or Beneficiary in an illegal or unlawful act, Death Benefit will be limited to 100% of the Account Value and no Term Life Benefit will be paid.
No Cancer Benefit will be paid for the following:

  1. any loss or claim directly or indirectly caused by or resulting from Human Immunodeficiency Virus (HIV) related illness, including Acquired Immunization Deficiency Syndrome (AIDS) and/or any mutations, derivations or variations, which is derived from an HIV infection;
  2. any condition arising out of the consumption of poisoning drugs, psychiatric drugs, drug abuse, alcohol abuse, abuse of solvents, and other substances unless prescribed by a Medical Practitioner for treatment.

No Accidental Death Benefit shall be paid where the death of the Insured is caused directly or indirectly from any of the followings:

  1. Catastrophic events of any natural disaster, nuclear radiation, contamination, radioactive gas, war or any act of war (whether declared or not), any act of terrorism, rebellion, insurrection or hostilities.
  2. The wilful participation of the Insured, Policy Owner or Beneficiary in an illegal or unlawful act.

Accident – a sudden, unforeseen and unexpected event or series of events of violent, external and visible nature which causes external bodily injury directly resulting in the death of the Insured while this Policy is in force, and is not related, directly or indirectly, to the person’s state of mental or physical health before the event. For the purpose of this Rider, an Accident does not include:


  1. a disease or infection, unless that disease or infection occurs due to an accidental cut or wound; or
  2. Suicide or an intentional, self-inflicted act by the Insured, while sane or insane and while intoxicated or not.

Account Value - the value of the internal account set up and maintained by the Company for this Policy as described in Account Value Provisions.


Basic Policy - the Provie Insurance Plan to which this Rider is attached.


Cancer - any malignant tumour positively diagnosed with histological confirmation and characterised by the uncontrolled growth of malignant cells and invasion of tissue or any occurrence of histologically confirmed leukemia, lymphoma or sarcoma.


The following cancers or tumours are excluded:

  1. where the symptoms appear, the condition occurs or the diagnosis relating to the relevant Cancer occurs within the first ninety (90) days from the Policy Date;
  2. any loss or claim caused by or resulting from a Pre-Existing Condition;
  3. tumours showing the malignant changes of carcinoma in situ (including cervical dysplasia CIN-1, CIN-2 and CIN-3) or which are histologically described as pre-malignant;
  4. all skin cancers, unless there is evidence of metastases or the tumour is a malignant melanoma of greater than 1.5mm maximum thickness as determined by histological examination using the Breslow method;
  5. non life-threatening cancers, such as prostate cancers which are histologically described as TNM Classification T1 (a) or T1(b), or are of another equivalent or lesser classification;
  6. papillary micro-carcinoma of the thyroid;
  7. non-invasive papillary cancer of the bladder histologically described as TaN0M0 or of a lesser classification; and
  8. chronic lymphocytic leukaemia less than RAI Stage I or Binet Stage A-I.

Commencement Date - the date used for determining the Issue Age of the Insured, as specified in the Policy Schedule.


Company - FWD Life Insurance Company (Bermuda) Limited.


Endorsement - an additional document attached to this Policy outlining adjustments that the Company may make to the Sum Insured or the standard terms and conditions as a condition to providing this Policy.


Expiry Date - the Policy Anniversary immediately preceding the hundredth (100th) birthday of the Insured.


Family Member - in respect to a person, his/her spouse, children, parents, parents-in-law, brothers or sisters, grandparents, grandchildren, other relatives or legal guardian.


First Confirmed Diagnosis - the first time a diagnosis of Cancer is made by a Medical Practitioner and confirmed by histopathological test results. The date of diagnosis of Cancer suffered by the Insured will be the day when tissue specimen, culture, blood specimen or any othe laboratory investigation upon which the diagnosis is determined is first taken from the Insured. A diagnosis of Cancer based on histpry, physical and radiological findings only will not be sufficient to meet the standard of diagnosis under this Rider.


Guaranteed Crediting Interest Rate - the rate declared by the Company as set out in an Endorsement to this Policy for the crediting interest that is deposited into this Policy.


Hong Kong - the Hong Kong Special Administrative Region of the People’s Republic of China.


Independent Person - a person other than:

  1. the Policy Owner or the Insured;
  2. a Family Member of the Policy Owner or the Insured;
  3. a business partner of the Policy Owner or the Insured;
  4. the employer or employee of the Policy Owner or the Insured;
  5. an insurance agent of the Company;
  6. an insurance representative of the Policy Owner or the Insured;

unless approved in advance by the Company in writing.


Insured - the person specified as such in the Policy Schedule whose life is insured under this Policy.


Medical Practitioner - an Independent Person who is not the Insured and who is acceptable to the Company, who is licensed and registered under the Medical Registration Ordinance of Hong Kong or otherwise with equivalent qualifications and legally authorized to practice western medical and surgical services in accordance with the laws of the location in which the services are provided.


One-off Premium - the One-off premium paid by the Policy Owner into the Policy and referred to in the Policy Schedule as the Single Premium.


Partial Surrender - While the Policy is in force and the Insured is alive, the Policy Owner may partially surrender the Account Value at any time by sending a written request to the Company. Upon the Company’s approval of the duly completed request, the Partial Surrender amount will be deducted from the Account Value.


Pre-existing Condition - any condition or illness in respect of an Insured, which, prior to the Policy Date, existed or was existing; or where its direct cause existed or was existing; or where the Insured and/or the Policy Owner was aware or should reasonably have been aware of signs or symptoms of the condition or illness; or where any laboratory test or investigation showed the likely presence of the condition or illness.


Policy Anniversary - the same date in each subsequent year as the Commencement Date.


Policy - the terms and conditions of this Provie Insurance Plan.


Policy Date - the Policy issue date as shown in the Policy Schedule when coverage under this Policy becomes effective.


Policy Schedule - the document attached to this Policy as amended by way of endorsement issued by the Company from time to time, which contains the Policy number, the premium payable (One-off Premium or Regular Premium) and other particulars of the Policy.


Policy Year - each 12- month period from the Commencement Date of the Policy, shown in the Policy Schedule.


Premium Holiday - the period during which this Policy remains in force but the payment of Regular Premium is suspended.


Regular Premium - the regular premium specified as such in the Premiums Provisions. The amount and frequency of the Regular Premium is specified in the Policy Schedule.


Suicide - the act or instance of taking one’s own life voluntarily and intentionally.

Note:
You will be requested to visit our Customer Service Centres in the event you want to make the following changes: 1) Change of beneficiary; 2) Select offline payment of initial premium; 3) Partial surrender; 4) Full surrender; or 5) Collateral assignments.


  • Provie Insurance Plan (including One-off and Monthly Regular Contribution Plan) (the "Product") is only available to Hong Kong identity card holders.
  • In any event, each applicant can only hold at most ONE (1) INFORCE POLICY of the Product through any means of application.
  • The Product is a limited offer and is subject to availability. FWD reserves the right to decline applications for this Product with a full refund of any premium paid without interest.