MyTreasure Insurance Plan

MyTreasure Insurance Plan

Product Summary

MyTreasure Insurance Plan (the “Plan”) is a savings and life protection plan for you to save for your future while giving you protection. By paying Premium for 5 years only, you can enjoy the annual distribution of guaranteed cash coupons during the first 25 Policy Years and also a couple of other benefits to achieve wealth accumulation.

Product Icons

Guaranteed Cash Coupons


Annual Dividends


Terminal Dividend


Short Payment Terms


Maturity Benefit

Product Features

?Provides you with Guaranteed Cash Coupons during the First 25 Policy Years

To provide you with stable return as early as possible, the guaranteed Cash Coupons of the Plan will be distributed at the beginning of each Policy Year. That means you will start to enjoy the distribution of guaranteed Cash Coupons right after your first premium payment. The amount is equivalent to 3.0% of the Basic Amount which will be distributed until the beginning of the 25th Policy Years. You may withdraw the Cash Coupons immediately or keep it in the Policy account to accumulate interest, depending on your financial needs.

“Basic Amount” means the amount shown on the Policy Information Page or endorsement as the “Basic Amount”. The “Basic Amount” is used to calculate Premium, guaranteed Cash Value, Accidental Death Benefit (if any), Cash Coupons, Dividends and Terminal Dividend, but it is not applicable to the calculation of the Death Benefit. If the Basic Amount has been amended while this Policy is in force, the said Premium, guaranteed Cash Value, Accidental Death Benefit, Cash Coupons, Dividends and Terminal Dividend will be adjusted accordingly.

?Dividends Payable Starting from the 25th Policy Year

Dividends (if any) will be payable every year from the 25th Policy Anniversary onwards, ensuring you to receive excess cash flow and accumulate wealth. You may leave the dividends in the Policy account to accumulate interest1; or withdraw, or use it to offset against future Premiums.

?Terminal Dividend

The Plan also provides Terminal Dividend2 (if any) which is a one-off entitlement payable on or after the 10th policy anniversary upon policy surrender, or upon policy maturity or the death of the insured (whichever is the earliest).

?Maturity Benefit to Celebrate Your Birthday

Your Policy matures when you reach age 108. By that time, you will receive a lump sum amount equivalent to the accumulated guaranteed monthly income with interest (if any), accumulated dividend with interest (if any), and maturity dividend (if any), less any Indebtedness (if any) to celebrate your birthday, and the Policy will be terminated thereafter.

?Premium Payment Period as Short as 5 Years

In case the Insured passes away, the Beneficiary will receive the death benefits:You only need to pay the Premium for 5 years to enjoy coverage until the age of 138 of the Insured. Furthermore, the Premium remains unchanged once it has been determined, helping you to plan ahead for the future.

?Life Protection for Better Peace of Mind

If the Insured passes away, we will pay the Death Benefit which is equivalent to: 101% of the Accumulated Premium Due and Received after deducting Cash Coupons, or the guaranteed Cash Value at the date of death of the Insured, whichever is higher; plus any accumulated Cash Coupons with interest (if any),accumulated Dividend with interest (if any) and Terminal Dividend (if any), less any Indebtedness (if any).

?Accidental Death Benefit

The Plan provides free accidental death benefit to the beneficiary. In the event the Insured unfortunately dies from the Accident injury, the beneficiary will receive an additional coverage. While the Policy is in force, prior to the Insured reaches age 66 and within first 10 Policy Years from the Policy Effective Date, if the Insured suffers from Accidental injury caused by an Accident, and dies from the Accidental injury within 180 days (both dates inclusive) from the date of the occurrence of the Accidental injury, the Company will pay to the Beneficiary 100% of the Basic Amount or USD62,500/HKD500,000, whichever is lower in addition to the death benefit. This Policy shall then terminate. Accidental Death Benefit payable per Insured under all policies of the Plan is subject to a maximum aggregate claim amount of USD125,000/HKD1,000,000 for each Insured.

?Simplified Underwriting

To enable you to achieve your goal with ease, application of the Plan is easy. Simplified underwriting procedures are available and no medical examination is required

Product Details

MyTreasure Insurance Plan

Issue Age From 15 days to the age of 80
Premium Payment Term3 5 Years

Benefit Term

To age 138 of the Insured

Policy currency

HK Dollar or US Dollar

Premium Payment Method

Annual; or Annual and prepayment of Premium4

Minimum Basic Amount

HKD80,000 or USD10,000

Maximum Basic Amount

HKD40,000,000 or USD5,000,000

1 Dividends and interest of the Plan are not guaranteed. The actual benefits and/or returns may be lower or higher than estimates. China Life (Overseas) reserves the right to revise these from time to time.

2 The Terminal Dividend is non-guaranteed. The actual amount can change and may be higher or lower than estimates, and such amount may become zero in some circumstances.

3 Policy fee of HKD200 / USD25 (depending on Policy currency) per year will be charged during the Premium payment term. The fee will be charged together with the Premium.

4 If you opt for the Annual & Prepay Premium option, you can withdraw the unused prepaid Premium (including interest, if any) at one time and China Life Insurance (Overseas) Company Limited (“China Life (Overseas)”) will charge 3% of the withdrawal amount as a withdrawal fee. The minimum fee will be HKD200 / USD25. You can withdraw the unused prepaid Premium once only.

Product Important

Important Information:

The information above is for reference only. Please refer to the Policy documents for the complete definitions of the capitalised terms, as well as all the terms and conditions of this product. You are reminded to review all of the relevant product materials provided to you and to seek independent professional advice if necessary.

  1. The Policy is underwritten by China Life Insurance (Overseas) Company Limited (“China Life (Overseas)” or "us / we / our"). China Life (Overseas) is responsible for the features, underwriting and benefit payments under the Policy. You should fully understand all of the risks involved in this product and consider whether this product is affordable and suitable to you before making your application.
  2. China Life (Overseas) shall make the final decisions on the underwriting and claims. We shall rely on your submitted information to assess whether to accept or decline your application, and shall refund any Premium paid without interest for declined cases.
  3. Exclusions - The Accidental Death Benefit under this Policy shall not cover any claims if the Insured is involved in any of the following activities or the consequences directly or indirectly caused by any of the following events occur in respect of the Insured: (a) war, act of hostility (whether war declared or not), civil war, revolution or any military actions; (b) rebellion, civil commotion, strike or activities of terrorism; (c) contamination resulting from nuclear weapons, ionizing radiation, nuclear fuel or waste produced from the combustion of nuclear fuel (the said nuclear combustion shall include any self-sustaining process of nuclear fission); (d) during war, act of hostility (whether war declared or not), any military actions or repression of rebellion, the Insured is engaging in or taking part in military services; (e) directly or indirectly caused by the Insured engaging in aviation, except as a passenger on an aircraft of a commercial airline on a scheduled route; (f) self-inflicted injuries or suicide (whether sane or not) by or attempted by the Insured (whether felony or not); (g) childbirth, pregnancy, miscarriage or abortion, even if it is accelerated or induced by an Accident ; (h) surgery operated on the Insured and induced by disease, infected disease or incident that is not caused by an Accident ; (i) taking of poison or inhaling poisonous gas or poisonous mist (whether voluntary or not); except Accidental inhaling by the Insured in a fire ; (j) the Insured as a professional athlete participating in sports or earning income or remuneration through the sports; (k) participating in hunting, mountaineering, motor racing, horse racing, ice-skiing, skiing, scuba-diving, parachuting, hang-gliding, boxing or any other competitions or performances; (l) while the Insured is on duty as a professional driver and is entering, driving, operating, servicing, riding in or departing from any land vehicle or conveyance outside the territorial limits of Hong Kong and Macau; (m) the Insured is assaulted or murdered during rebellion, civil commotion, strikes or when making an arrest while the Insured is employed as a full-time or part-time police officer or cadet officer, or is an officer or a member of the Correctional Services Department; or (n) the Insured is assaulted or murdered during rebellion, civil commotion or strikes while the Insured is employed as a fireman, or is on duty as a fireman and is engaging in firefighting or activities for protecting people and property in a fire.

    In addition, the information stated in this product brochure is for reference only. Please refer to the General Provisions for the exact terms and conditions and limitations such as incontestability, suicide and fraud etc. or all exclusions.
  4. Non-Payment of Premium / Automatic Premium Loan - You should pay Premium(s) on time according to the selected Premium payment schedule. If the due Premium remains unpaid upon the expiry of the Grace Period, an Automatic Premium Loan will be taken out against the Policy to settle the unpaid Premium automatically. All Policy Loans are interest-bearing and calculated at a rate (as stated on our corporate website to be declared by us from time to time. Interest accrued shall become a part of the Indebtedness. When the loan balance is equal to or exceeds the guaranteed Cash Value of the basic plan of the Policy, the Policy will be lapsed and you will lose the related insurance coverage and suffer a financial loss. Under these circumstances, the Surrender Value of the Policy will be deducted to repay the outstanding loan balance (including interest), and the remaining value will be refunded to you.
  5. Dividend and/or Crediting Interest Philosophy - This is a participating and/or providing interest on accumulation insurance plan. Premiums received from the policies will be invested to a variety of assets according to China Life (Overseas)’s investment strategy. The surplus from the invested assets will be shared with Policyholder through declared dividends and/or interest rate on accumulation in accordance with the relevant clause in the benefit provision. China Life (Overseas) will ensure a fair sharing of profits among different groups of policyholders and also between policyholders and China Life (Overseas). China Life (Overseas) will review and determine the dividend and/or interest rate on accumulation at least once a year, the current projection on dividend and/or interest rate on accumulation are not guaranteed and subject to change with the entire performance of the relevant policies and the factor including but not limited to the investment returns, operating expense, claims experience, commission, persistency, past experience and future prospect. In addition, China Life (Overseas) will consider both past and future outlooks of all factors including but not limited to:

    Claims – including the costs of providing death benefit as well as other benefits under the product(s).

    Investment return – including the interest income, dividend income, outlook of interest rates and any changes in the market value of the product’s backing asset.

    Expenses – including both direct expenses (e.g. commissions, underwriting, issue and premium collection expenses) and indirect expenses (e.g. general overhead expenses) related to the product.

    Persistency – including policy lapse and partial surrender experience.

    ? Note: The dividend or interest rate history is not an indicator of the future performance of this product.?

  6. Investment Philosophy, Policy and Strategy - China Life (Overseas) aims to strive for minimizing volatility of the investment return and provides stable return as our investment philosophy. Assets are mainly invested in bonds and other fixed income instruments, such as government and corporate bonds and other fixed income instruments to support the guaranteed financial obligation. To enhance the performance of the investment portfolio, China Life (Overseas) invests in equity-type investments and other investment instruments such as mutual funds and direct / indirect investment in properties or commercial institutions.

    The investment portfolio will be diversified across different geographic regions and /or industries. Investment strategy will be subject to change depending on the market conditions and the economic outlook. China Life (Overseas) will inform Policyholder the relevant changes in dividend and/or interest rate on accumulation and the impact to the policies when there is change in the investment strategy.

    China Life (Overseas)’s current investment strategy on participating and/or providing interest on accumulation plans are as follow:
    Asset type Target Asset Mix (%)
    Bonds and other fixed income instruments 50% to 90%
    Equity-type investment and other investments 10% to 50%
    Please refer to China Life (Overseas) Company’s website for dividend history, Dividend and/or Crediting Interest Philosophy, Investment Philosophy, Policy and Strategy, as well as the fulfillment ratio of China Life (Overseas).
  7. Cooling-off Right - You have the right to cancel the Policy within the Cooling-off Period and obtain a refund of any Premiums paid by giving written notice to us provided that you have not made any claims under the Policy. Such notice must be signed by you and submitted to China Life (Overseas) at 22/F, CLI Building, 313 Hennessy Road, Wan Chai, Hong Kong within 21 days after the delivery of the Policy or issue of a Notice to you or your representative informing you that the Policy is available, whichever is earlier.
What are the key product risks?
Credit risk: This product is a life insurance Policy issued by China Life (Overseas). Any Premium paid will become part of our assets and our financial strength will affect our ability to meet our contractual obligations to you under the Policy. Therefore this product is subject to our credit risk.
Early surrender risk: The savings component of the Plan is subject to risks and possible losses. Should you surrender the Policy early, you may receive an amount considerably less than the total amount of Premiums paid.
Exchange rate and Currency risks: Any Policy with foreign currencies involves risks, such as potential changes in political or economic conditions that may substantially affect the price or liquidity of a currency. The fluctuations in exchange rates may also cause financial losses to you during currency conversions. You should consider the potential currency and exchange rate risks before deciding which Policy currency you should take.
Inflation risk: The cost of living in the future may be higher than expected due to the effects of inflation. Therefore, your current planned benefits and/or returns may be insufficient to meet your future needs even if we fulfill all of our contractual terms and obligations.
Liquidity and Withdrawal risk: You are obliged to hold the Policy and pay the Premium for the designated period of time. If you terminate the Policy prior to the Policy Maturity Date, you will suffer a financial loss. In case you make partial withdrawals from the Policy, your account value, death benefit and other Policy values will be reduced, and you may need to pay the relevant handling fee or charges (if any).
Non-guaranteed Benefit: This Plan consists of non-guaranteed benefits and/or returns. The actual amounts of benefits and/or returns in the future may be different from the benefits and/or returns which project on the product materials. The product materials are for illustrative purposes only.
Policy Termination: The Policy will be terminated if (a) the Policy is lapsed or surrendered; or (b) the Company has paid the Policy Maturity Benefit; (c) the Company has paid the death benefit, (d) the due Premium has not been paid within 31 days after the Premium Due Date, and the Policy has no remaining guaranteed Cash Value, or (e) the Indebtedness of the Policy is equal to or exceeds the guaranteed Cash Value of the Policy.


The information and descriptions contained herein are not intended to be complete descriptions of all terms, exclusions and conditions applicable to the products and services, but are provided solely for general informational purposes. For complete details please refer to the actual policy or the relevant product or services agreement.


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