【Savings Insurance: Celebrate Life’s Milestones】Rewards for getting married and having children, with a guaranteed cash flow until age 100.

Everyone has heard of the saying “thirty and established”, and many people begin settling down and starting a family at this age. Faced with one major life event after another, how should the younger generation plan for the future? Chubb Life’s Forever DiamondII not only provides basic savings protection, but is also specially designed for young people planning to start a family or pursue further studies, offering additional bonuses at important life milestones while guaranteeing an income every year to help make everyone’s life unique. 

Preparing to start a family is no easy task. From choosing a home and raising funds for a wedding to having and raising children, it requires considerable financial resources. Forever DiamondII offers the “Dream Achievement Reward”: when the insured experiences certain major life events, they will receive an additional bonus to invest more resources in pursuing different life goals.

Under the “Dream Achievement Reward”, from the eighth policy year onwards, when the insured experiences any of the following events: purchasing a residential property for their own use, getting married, the birth of a child, successfully gaining admission to university (a bachelor’s degree or higher degree programme), or reaching the age of 65 or above, they will receive a one-off bonus equivalent to 5% of the most recent nominal amount recorded by Chubb Life, celebrating the insured’s achievement in reaching an important milestone in life.

The policyholder may use the additional bonus from the “Dream Achievement Reward” to celebrate with their family. Alternatively, the policyholder may choose to leave the bonus in the policy to accumulate interest, providing more resources to prepare for future important moments in life, such as saving the first pot of money for their children’s further education, marriage or down payment on a property, or preparing for their own retirement.

Illustrative example^:

Some savings insurance products on the market require the policy to have been in force for a specified period from the policy date before cash can be withdrawn. Young people generally have limited savings: while they want to plan for the future by purchasing savings insurance products, they are also concerned that their available funds may be substantially reduced. Forever DiamondII provides policyholders with various ways to withdraw cash, giving young families greater flexibility to meet their financial needs at different stages.

From the first policy anniversary, policyholders can receive guaranteed cash¹ each year. From the 13th policy anniversary onwards, policyholders may receive non-guaranteed annual bonuses². Both the guaranteed cash and non-guaranteed annual bonuses can be retained in the policy to accumulate interest, further enhancing long-term savings returns. After the policy has been in force for 10 years, policyholders may also receive a non-guaranteed terminal bonus³, further enhancing their savings results.

The premium payment terms of Forever DiamondII are flexible  ，with payment periods of 2, 5, 8 or 12 years, catering to the different needs of policyholders and their families at every stage of life, helping them plan ahead.

Even in the face of unexpected accidents, the plan offers an optional cash withdrawal facility⁴ to provide financial support for policyholders and their families in times of need. For example, if they need to renovate their home to welcome a new family member, invest in a small business or cover a family member’s hospitalisation expenses, policyholders may apply to withdraw cash from the accumulated cash value available for withdrawal, accumulated annual dividends, and the “Dream Achievement Bonus” and its accumulated interest (if any). This provides flexibility to meet different financial needs  ，enhancing liquidity in the financial planning of policyholders and their families.

Many parents take out savings insurance products not only to plan for their own retirement, but also to prepare for their children’s future. Forever DiamondII offers various options for cash withdrawals and wealth succession, which can be used for children’s education funds, a deposit for purchasing a property and even wealth succession.

After the policy has been in force for 10 years, the policyholder may change the insured person once⁵, allowing the wealth accumulated under the policy to be passed on to the next generation. In addition, from the commencement of the policy, the policyholder may designate a person as the successor insured person⁶. Provided that the application meets the conditions stipulated in the policy terms, the successor insured person will become the new insured person under the policy upon the death of the insured person. None of the policy’s value will be affected by changing the insured person, allowing the plan to be transferred intact to the next generation and giving parents peace of mind when planning for their children’s future.

For product details and key product risks, please refer to the relevant product brochure, benefit illustration (if any) and policy provisions, or visit the Chubb Life Chubb Life website.

1. When your policy remains in force and the premiums payable for the basic plan up to maturity have been paid in full, we will pay you guaranteed cash withdrawals on each policy anniversary from the designated policy anniversary date until the maturity date, in accordance with the policy provisions. The payout period and amount of the guaranteed cash withdrawals will be determined based on your selected premium payment term and guaranteed cash withdrawal payment option.
2. When your policy remains in force and the premiums payable for the basic plan up to maturity have been paid in full, we will pay annual bonuses to your policy each year from the 13th policy anniversary onwards. The amount payable will be determined at our sole discretion.
3. After your policy has been in force for 10 years from the policy date, you will be entitled to a terminal bonus. The amount of the terminal bonus will be determined by us based on the nominal amount.
4. Depending on your selected premium payment term and guaranteed cash withdrawal payment option, you will receive the relevant guaranteed cash withdrawals during the specified period (the “Payout Period”). The guaranteed cash withdrawal payment option cannot be changed from the date of issue.
5. The policyholder may apply to change the insured once on or after the 10th policy anniversary while the policy remains in force, subject to certain conditions under the policy.
6. On or after the 10th policy anniversary while the policy remains in force and while the insured is alive, you may designate one person as the successor insured of your policy, subject to certain conditions under the policy.

^ Notes: 

1. The examples above are purely fictional and for illustrative purposes only. Any resemblance to any real person, organisation or event is purely coincidental. The examples in this product brochure should not be construed as any comment on, confirmation of or extension to the insurance coverage of any past, present or future case. In addition, the examples above should not be used as a basis for predicting the outcome of any real case, as every case must be assessed according to its specific facts and is subject to the actual details and provisions of the relevant policy. Every real case is unique and should be considered carefully.
2. All figures are based on current projections and rounded to the nearest whole number.
3. The examples above involve certain assumptions, including:
   1. all premiums due have been paid in full on time and exclude the premium levy;
   2. no policy loan has been applied for and no premium holiday has been exercised during the policy term;
   3. no successor policyholder has been designated;
   4. the nominal amount and premium payment mode of Forever DiamondII remain unchanged throughout the policy term;
   5. the policyholder applies to withdraw funds from the accumulated guaranteed cash withdrawals. If the accumulated guaranteed cash withdrawals are insufficient to cover the withdrawal amount, the interest on the accumulated guaranteed cash withdrawals will then be withdrawn to cover the withdrawal amount. If further funds are required, the accumulated annual bonuses and interest on the accumulated annual bonuses will be withdrawn to cover the withdrawal amount. In the examples above, the annual interest rate used to calculate the accumulated amounts is 4%. This interest rate is not guaranteed and may be adjusted by us from time to time; and
   6. the projected surrender value is the sum of the guaranteed cash value, accumulated cash withdrawals, accumulated annual bonuses, terminal bonus, “Dream Achiever Reward” and the interest accumulated thereon. The annual bonuses and terminal bonus included in the projected non-guaranteed benefits are calculated based on our current assumed bonus rates. These bonus rates are not guaranteed and are determined by us from time to time based on our experience and expectations regarding various factors, including but not limited to investment returns, claims, policy surrenders and expenses. The actual amount payable as the surrender value may change from time to time, and its value may be higher or lower than that shown.
4. The policyholder must have sufficient insurable interest in the proposed new insured and/or successor insured in accordance with our underwriting requirements applicable at the relevant time, and we may require an explanation or proof of the insurable interest. 
5. Any change of insured, designation of a successor insured and cash withdrawal must be made by written application and will only take effect once recorded and approved by us. Please refer to the policy provisions of this product for the exact terms and conditions. 

Note: This article was last updated on 20 December 2023.

This English version of this article has been generated by machine translation powered by AI. It is provided solely for reference purposes. In the event of any discrepancy or inconsistency between this translation and the original Chinese version, the Chinese version shall prevail.