CPIC Life (HK) launches branded new increasing whole life insurance product "Ever-growing Whole Life Insurance Plan"

HONG KONG, Aug. 9, 2023 /PRNewswire/ -- China Pacific Life Insurance (H.K.) Company Limited ("CPIC Life (HK)" or "the Company") announced the launch of a new whole life insurance product, "Ever-growing Whole Life Insurance Plan" ("Ever-growing"), providing customers with a resilient financial solution. "Ever-growing" consists of both protection and savings functions, and the participating life insurance increases the growth potential of the wealth in the long run. The greatest feature of the new product is its incremental function: If the insured passes away after the premium payment period of the policy, the Death Benefit payable under "Ever-growing" will not be less than a percentage of the Notional Amount of the policy. The percentage for the 1st policy year is 100% and subsequently it will be increased by 2% each year and compounded annually until policy termination, thereby continuously increasing life protection and safeguarding your loved ones. Moreover, the plan comes with a range of flexible options, "Currency Conversion Option" allows customers to change the policy currency according to their needs. "Terminal Dividend Lock-in Option" and "Regular Withdrawal Instruction" support personal financial planning. "Unlimited change of life insured", "Policy Succession Option",  "Policy Split Option" etc. pass on the wealth from generation to generation.

Mr. Jin Zhaoxin, Co-Chief Executive Officer of CPIC Life (HK), said: "Increasing whole life insurance products have been very popular in  Mainland China in recent years. CPIC Life (HK) has also taken the opportunity to launch a similar plan, which combines the unique advantages of Hong Kong insurance products, providing local customers focusing on protection with one more choice; On the other hand, customers from the Mainland China may come to Hong Kong to purchase insurance due to asset allocation. The flexible options such as diversified policy currencies and policy continuation solutions of new products may be able to meet the needs of customers from Mainland China."

At the same time, CPIC Life (HK) launched a new insurance product offer. From now until September 30, 2023, customers who successfully apply for the "Ever-growing Whole Life Insurance Plan" can enjoy premium discounts. If customers choose to apply for a 5-year payment period US dollar insurance policy by prepayment, will enjoy a guaranteed interest rate of 5.2% per year for the prepaid premium. The above offers are subject to the terms and conditions.

The above information is for reference only. For details about "Ever-growing Whole Life Insurance Plan" and product discounts, please refer to the relevant product brochures and promotional leaflets. The policy is governed by the policy terms issued by CPIC Life (HK). For enquiries, please contact your licensed broker intermediary.

About China Pacific Life Insurance (H.K.) Company Limited

China Pacific Life Insurance (H.K.) Company Limited ("CPIC Life (HK)" or "the Company") is a wholly owned subsidiary of China Pacific Life Insurance Co., Ltd. CPIC Life Insurance is a subsidiary of China Pacific Insurance (Group) Co., Ltd. ("China Pacific Insurance", stock code: 2601.HK, 601601.SH, CPIC.LSE), and is one of the three major domestic life insurance companies (according to the original premium income). CPIC Life (HK) is committed to providing customers with comprehensive life insurance and wealth management products to meet the customers' needs at different stages of life. The goal is to become the Hong Kong life insurance company with the best customer experience.

SOURCE China Pacific Life Insurance (H.K.) Company Limited