MyWealth Beyond Savings Insurance Plan

Wealth Accumulation Switching Option²

To cater your various financial needs and investment preferences at different life stages, this Plan features the “Wealth Accumulation Switching Option”², which included 3 Switching Options - “Advance”^{^}, “Balanced” and “Conservative”. Each option is equipped with different ratio of “Stable Asset Account”⁶ value to the cash value of Reversionary Bonus¹⁴ (if any) and cash value of Terminal Bonus¹⁵ (if any), allowing you to make flexible switching.

On the 10^th policy anniversary and every policy anniversary thereafter, and while the policy is in force, you can apply to exercise this option to allocate the portfolio ratio of (i) the value of “Stable Asset Account”⁶ (if any) and (ii) the cash value of non-guaranteed Reversionary Bonus¹⁴ and the cash value of non-guaranteed Terminal Bonus¹⁵ (if any). The value in “Stable Asset Account”⁶ will accumulate with interest at the non-guaranteed interest rate determined by the Company from time to time (the current annual interest rate is 4.25%)^⁶,#. You can also withdraw the accumulated value from your account at any time.

^ The Switching Option is pre-set as “Advance” upon policy issuance until the first-time exercise of “Wealth Accumulation Switching Option”².

# As of 27 April 2026, the accumulation interest rate of the Company’s participating USD policies has remained consistently at 4.25% since 2013.

Currency Switching Option^3,4

On the 3^rd policy anniversary and any policy anniversary thereafter and while the policy is in force, you can apply to exercise “Currency Switching Option”^3,4, changing the policy currency of the basic plan of the policy to a different currency (“New Policy Currency”) on the policy anniversary without any evidence of insurability, which fully accommodates your global wealth management goal.

Currency switching is achieved by converting the basic plan of the policy to a designated new plan (“Designated Plan”) that is denominated in a new policy currency (like US Dollar, Hong Kong Dollar, Chinese Yuan, Australian Dollar, Canadian Dollar, Euro, British Pound Sterling or Singapore Dollar) that is available for your choice upon exercising this option. The Designated Plan will be determined by the Company from time to time and may be different from this Plan. Any rider(s) under the policy (except the Payor Benefit or Waiver of Premium rider attached to the basic plan) will remain in force under the original policy. If any complementary policies and riders are not accepted to retain under the original policy, such complementary policies and riders shall be automatically terminated upon the effective date of the Currency Switch. 

Policy Split Option⁵ allows multiple separate policies to be split in one go

While the policy is in force and the Insured is still alive, after the end of the 3^rd Policy Year or the end of the premium payment period (whichever is later), you may split the original policy by allocating part of the Units of the basic plan to one or more separate policy(ies)  (the “Split Policy(ies)”). After exercising Policy Spilt Option, the basic plan of the original policy will remain in force and the effective date shall remain unchanged. Other policy information and instructions under the Split Policy(ies) will be the same as the basic plan of the original policy except Unit, Total Premiums Paid¹⁶, Guaranteed Cash Value, face value and cash value of Reversionary Bonus¹⁴ and Terminal Bonus¹⁵ (if any), accumulated value of Stable Asset Account⁶ (if any) and future premium.

After split, you can change other policy options or instructions at any time. Moreover, you can exercise Policy Split Option⁵ once per Policy Year. Policy Split Option⁵ is also applicable to the Split Policy(ies), maximising the power of asset allocation.

Guaranteed Cash Value, non-guaranteed Reversionary Bonus¹⁴ and non-guaranteed Terminal Bonus¹⁵

In addition to the increases of Guaranteed Cash Value over the Policy Years, starting from the 1^st policy anniversary, the Plan declares non-guaranteed Reversionary Bonus¹⁴ annually and non-guaranteed Terminal Bonus¹⁵ at least once annually, allowing you to earn potential long-term return.

In the event of death of the Insured and assumed that Policy Continuation Option⁸ has not been exercised, the face value of Reversionary Bonus¹⁴ (if any) and face value of Terminal Bonus¹⁵ (if any) will be paid along with the death benefit. We will pay the cash value of Reversionary Bonus¹⁴ (if any) and Terminal Bonus¹⁵ upon policy surrender (full or partially) or policy termination (other than death of the Insured). The cash value of Reversionary Bonus¹⁴ (if any), cash value of Terminal Bonus¹⁵ (if any) and value of Stable Asset Account⁶ (if any) will be adjusted when you exercise the “Wealth Accumulation Switching Option” ². These cash values and face values of the bonuses may not be equal.

Diverse Policy Succession Solutions for passing on legacy to next generations seamlessly

• Unlimited changes of Insured⁷ and protection of new Insured up to age 128, pass on wealth to your next generations infinitely

  After the 6^th policy monthly anniversary, you may change the Insured for unlimited times⁷. 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 on to the next generations.

• Policy Continuation Option (for up to 2 designated beneficiaries)⁸

  Apart from unlimited changes of Insured⁷, the Plan specially provides “Policy Continuation Option”⁸. While the Insured is alive and the policy is in force, the Policy Owner can assign (i) up to two beneficiaries; and (ii) specify the proportion of the Death Proceeds to be paid for each beneficiary. Upon the unfortunate death of the Insured, the policy will be split according to the number of designated beneficiary(ies) assigned and the proportion of the Death Proceeds specified under the Policy Continuation Option (if applicable).  The designated beneficiary(ies) will become the new Policy Owner(s) (if applicable) and the new Insured(s) (“Continued New Insured”). The coverage period will also be adjusted to age 128 of the Continued New Insured, giving you the flexibility on inheritance and split the policy to different beneficiaries. 

• Policy Custody Value-added Service⁸
  To ensure greater peace of mind in passing on your policy to your beloved family after your passing, you can pre-assign a trusted family member to become a Contingent Owner with Restricted Rights. After your death, the designated Contingent Owner with Restricted Rights may help manage the policy and withdraw a designated percentage of policy value until the Successive Policy Owner attains the specified age for taking full ownership of the policy. This arrangement allows the protection to continue, ensuring your care and intentions are fully preserved.

• Designate Contingent Policy Owner and Contingent Beneficiary Service⁸

  You may choose to directly designate a Contingent Policy Owner⁸ who will become the new Policy Owner upon your passing once the Insured reaches the age of ¹⁸ or above. In addition, the Policy Owner can name up to ten Primary Beneficiaries and one Contingent Beneficiary⁸. If, at the time of the Insured's death, all Primary Beneficiaries have also passed away, the surviving Contingent Beneficiary will receive the death benefit, or the Policy Continuation Option⁸ will be exercised (if applicable). 

Settlement options for Death Benefit¹¹ and Multiple Policy Value Withdrawal Methods

• Flexible Death Benefit Settlement Option¹¹ to accommodate the diverse needs of different beneficiaries

  While the Insured is still alive and the policy is in force, the Policy Owner can choose from the following Death Benefit Settlemen Options flexibly regarding payment of death benefit to different beneficiary(ies)¹¹ in different ways 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 payment¹¹ – Monthly, semi-annually or annually over 10, 20 or 30 years; or

  iii) Increasing installment payments¹¹ – 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 starting from the 2^nd year until all death benefit and / or accumulated interest¹⁷(if any) are fully paid; or

  iv) Customised payment – You can designate a specified year or a specified age of the beneficiary, to start paying (i) regular death benefit to the beneficiary monthly, semi-annually or annually; or (ii) a specified amount of first installment of the death benefit to the beneficiary monthly, semi-annually or annually, and such installments will be increased by 3% each year starting from the 2^nd year until all death benefit and / or accumulated interest¹⁷ (if any) are fully paid; or

  v)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 amount will be paid by regular installment payments¹¹.

  
  For death benefit to be paid to the beneficiary(ies) at regular installment, increasing installment or customised 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 an interest¹⁷ (if any).

• “Life Event Option” ¹¹

  The Death Benefit Settlement Option includes the “Life Event Option” ¹¹, which can be combined with applicable Death Benefit Settlement Options (including options ii – v shown in the table above). This option allows you to predefine lump-sum payments for your Primary Beneficiary(ies) at meaningful life milestones (such as reaching designated ages, marriage, diagnosis of a major critical illness, or other life events). The lump-sum payout(s) under this option will be calculated based on the designated percentage multiplied by the remaining balance of each individual beneficiary’s share of the death benefit and its accumulated interest (if any). More than one Life Event Options can be assigned for each Primary Beneficiary. In addition to the preset choices, our first-in-market “Customised Life Event” ¹¹ lets you freely define the significant events tailored to your Primary Beneficiary(ies)’s life journey, making your protection a thoughtful extension of your wishes.

• Full Surrender Settlement Options¹²

  Once the policy has been in force for 5 years, and if the Policy Owner fully surrenders¹² the policy. Other than a lump sum payment, the Policy 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 regular¹² – Monthly, semi-annually or annually over 10, 20 or 30 years; or

  ii) Increasing payments¹² –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 interest¹⁷ (if any) are fully paid. The amount of the surrender payment which is yet to be paid can also enjoy an interest¹⁷ (if any).

• Flexible Cash Withdrawal for Greater Control Over Your Funds

  While the policy is in force, the Policy Owner may choose to withdraw policy value from various methods, enabling flexible use of funds. The withdrawal arrangements are as follows:

  1. Withdrawal of cash value of accumulated Reversionary Bonus¹⁴

  The Policy Owner may choose to withdraw the cash value of accumulated Reversionary Bonus¹⁴ (if any) in cash. After withdrawal, the face value of the accumulated Reversionary Bonus¹⁴ (if any) and the face value and cash value of future non‑guaranteed Reversionary Bonus¹⁴ (if any) will be reduced accordingly, without affecting the Units of the policy.

  2. Withdrawal of accumulated value of the Stable Asset Account⁶

  The Policy Owner may withdraw the accumulated value of the Stable Asset Account⁶ (if any) at any time, without affecting the Units of the policy.

  3. Partial surrender

  In the event of a partial surrender, the Policy Owner may withdraw, part of the Guaranteed Cash Value, the cash value of accumulated Reversionary Bonus¹⁴ (if any), and the cash value of non‑guaranteed Terminal Bonus¹⁵ (if any) in cash. After a partial surrender, the Units, Guaranteed Cash Value, the face value of Reversionary Bonus¹⁴ (if any), and the face value of non‑guaranteed Terminal Bonus¹⁵ (if any) will be reduced. The remaining Units after withdrawal must meet the minimum Unit requirement. Once partial surrender request is approved, the reduced Unit(s) is no longer in force and is not eligible for reinstatement.

• Regular Withdrawal of Policy Value ⁹ with Direct Payment to Designated Payee(s)

  In addition to one‑time policy value withdrawals, the Policy Owner may also set up standing instructions for regular withdrawals⁹. Subject to the Company’s prevailing rules, payments may be made annually, semi‑annually, or monthly, and directly credited to designated payee(s) — such as family members, hospitals,  residential care homes for the elderly, or charitable institutions, without providing the proof of relationship, further enhancing the flexibility and convenience of withdrawal arrangements.

• Default Mentally Incapable Option Policy Service ¹¹

  Even in the face of unforeseen health challenges that result in a diagnosis of mental incapacity, a simple pre-arrangement can ensure your policy and protection remain unaffected, continuing to safeguard you and your family.

Premium Holiday¹⁰

The Plan offers a flexible Premium Holiday¹⁰ arrangement. You can apply for a Premium Holiday¹⁰ on or after the 2^nd policy anniversary as long as there is no prepaid premium¹⁸ and indebtedness, allowing you to temporarily suspend premium payments from the next policy anniversary. Even in the event of unforeseen circumstances or short‑term financial needs, you can still enjoy peace of mind without worrying about the immediate termination of policy.

If the Policy Owner is unfortunately diagnosed with a specified Covered Illness (including Cancer, Severe Heart Attack or Stroke), the Premium Holiday¹⁰ period may be extended free of charge, regardless of whether there has been any change of Policy Owner throughout the premium payment period¹⁰. This provides you with greater financial flexibility when facing major health challenges:

During the Premium Holiday¹⁰, the face value of non-guaranteed Reversionary Bonus¹⁴ will not be declared, but the Units, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses¹⁴ (if any) and accumulated value of Stable Asset Account⁶ (if any) will remain unchanged.

Premium Waiver¹³

Accidents or diseases are unforeseeable. Under the following circumstances, we will pay the future premiums of the basic plan to give your beloved ones an extra peace of mind.

1)      If the Insured is 18 years old or above¹³, and is the Policy Owner at the same time, being diagnosed with total permanent disability¹⁹ before the age of 75, he or she will entitle to the “Waiver of Premium Benefit”¹³. We will pay the future premium of the basic plan for you, up to USD 350,000 or until premium end date that is set at the time of policy issuance. It ensures your wealth will not be affected.

2)      If the Insured is 17 years old or below¹³, and the Policy Owner (including Contingent Policy Owner8) dies or is diagnosed with total permanent disability¹⁹ before the age of 75, he or she will entitle to the“Payor Benefit”¹³, and we will pay the future premiums of the basic plan for you, up to USD 350,000 or until premium end date that is set at the time of policy issuance to safeguard your child’s future.

Premium waiver benefit¹³ is subject to designated exclusions. Please refer to the “Key Exclusions” section and Policy Provisions for more details.

Flexible plan for your financial needs

MyWealth Beyond Savings Insurance Plan offers multiple options of premium payment periods as single-premium,  5-year and 12-year,  while you may choose to prepay the premium¹⁸ by lump sum payment if 5-year premium payment period is chosen, thereby enjoying the benefit of paying up the Plan at a lower cost. Interest¹⁸ (if any) will also be earned on the prepaid premium¹⁸.

No medical underwriting – hassle-free application

The application process of basic plan is simple, and no medical check-up is required, this allows you to accumulate wealth with ease.

Medical Value-added Service^

To address your medical needs besides protection, this service renders you with one-stop medical services which includes:

-        Second Medical Opinion Service

-        China Accompany & VIP Channel Service

-        Home Nursing Referral Service

The plan is only applicable to the designated plan number and service period. For details and terms and condition of Medical Support Service, please refer to CTF Life website > "Value Added Service" or contact your financial consultant.

^ The above Value-added Service is provided by the third party service provider and does not constitute part of the relevant plans. Chow Tai Fook Life Insurance Company Limited reserves the right to change the details, terms and conditions of the above Value-added Service without prior notice and assumes no responsibility of the services provided by the third-party service provider. These services do not require additional premium. The above service introduction is only a summary of the information. For details, terms and conditions of the above Value-added Service, please refer to the "Value Added Service" page on the CTF Life website or contact your financial consultant.

Free Worldwide Emergency Assistance Service²¹

Once enrolled in this Plan, the Insured will have access to free 24-hour worldwide emergency assistance²¹ for immediate support wherever he/she 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. 

1. “Special-in-market” is the result of comparing similar major life insurance savings products of major life insurance companies in Hong Kong as of 27 April 2026.

2. Wealth Accumulation Switching Options and its portfolio ratio

“Stable Asset Account Allocation” = the value of “Stable Asset Account” ÷ (cash value of Reversionary Bonus (if any) + cash value of

Terminal Bonus (if any) + value of Stable Asset Account) x 100%

Within 30  days before or after the 10^th policy anniversary or every policy anniversary thereafter, you may, subject to the prevailing rules of the Company, exercise the Wealth Accumulation Switching Option to adjust the Switching Option of the basic plan of the policy to achieve Stable Asset Account Allocation at your desire, subject to the following conditions: (i) the Switching Option applied for must be different from the default Switching Option of the basic plan of the policy (for the first exercise of this option) or the latest Switching Option as shown in our record (if you have already exercised this option before); (ii) except the first time of exercise of this option, the switch date of each subsequent request must be separated by a period of not less than 1 year from the switch date of the preceding exercise of this option; and (iii) all indebtedness must be fully settled before exercising this option. Once the Wealth Accumulation Switching Option is exercised, we will correspondingly adjust the amount of any future cash values and face values of Reversionary Bonus and Terminal Bonus at a rate to be determined by us based on the change(s) of the cash values of Reversionary Bonus and Terminal Bonus. Once the Company approves the request of Wealth Accumulation Switching Option, we will determine the value of Stable Asset Account immediately following such exercise of Wealth Accumulation Switching Option (“Target Value”). The Target Value equals the product of Stable Asset Account Allocation of the elected Switching Option and the aggregate of (i) the accumulated value of Stable Asset Account (if any) immediately before such exercise (“Existing Value”); and (ii) the cash values of Reversionary Bonus and Terminal Bonus immediately before such exercise. We will then adjust the balance of Stable Asset Account from the Existing Value to the Target Value at the switch date, which in the case that the Existing Value is lower than the Target Value, the deficit will be resolved by transferring the latest cash value of Reversionary Bonus (if any) and cash value of Terminal Bonus (if any) to the Stable Asset Account; or in the case that the Existing Value is higher than the Target Value, the surplus from the Stable Asset Account will become the cash value of Reversionary Bonus and cash value of Terminal Bonus. Please refer to the Policy Provisions for more details of the Wealth Accumulation Switching Option.

3. On the 3^rd policy anniversary or any policy anniversary thereafter and while the policy is in force, you may, subject to the prevailing rules of the Company, apply to change the policy currency of the basic plan of the policy to a different currency (“New Policy Currency”) through converting the existing basic plan of the policy to a designated new plan (“Designated Plan”) denominated in the New Policy Currency that is available and determined by us without providing any evidence of insurability, subject to the following conditions: (i) successfully submitted the application to change the policy currency to the New Policy Currency (“Currency Switch”) within 60 days immediately preceding any policy anniversary on which the Currency Switch Option is exercised; (ii) all premiums due and payable under the policy must be settled and any indebtedness must be fully repaid; (iii) the relevant Unit of the Designated Plan of the policy following the Currency Switch must not be less than the minimum Unit amount we permit at the time of your request; (iv) no Premium Holiday is in effect under the basic plan of the policy at the time of the Currency Switch; (v) no application for exercising Policy Split Option, Wealth Accumulation Switching Option, or Change of Insured Option is in progress, and no claim is in progress under the basic plan of the policy upon request exercising this option; (vi) your request for exercising the Currency Switch Option cannot be changed or withdrawn once it is submitted; and (vii) Currency Switch Option can only be exercised once during a Policy Year under the policy. The Designated Plan may or may not be the same as the basic plan of the policy, and may have different benefits, plan features and policy terms comparing with those under the basic plan of the policy. Please refer to the Policy Provisions for more details of the Currency Switching Option.

4. Upon the effective date of Currency Change: (i) the basic plan of the policy will be converted to the Designated Plan denominated in the New Policy Currency. All benefits, plan features and policy terms will follow those as provided in the Designated Plan. Policy Effective Date and Policy Years of the policy will remain unchanged after the Currency Switch; (ii) the existing and future amounts of Unit, Guaranteed Cash Value, premium(s) due and payable (if any), total premiums paid, face value and cash value of Reversionary Bonus and Terminal Bonus (if any), accumulated value of Stable Asset Account (if any) of the basic plan of the policy will be determined and adjusted by the Company in our sole discretion based on factors including but not limited to (1) the prevailing market-based exchange rate determined by us from time to time; (2) other investment factors; and (3) other market factors; and (iii) any complementary policies and riders under the policy (except the Payor Benefit or Waiver of Premium rider attached to the basic plan) will remain in force under the original policy after the Currency Switch. Please understand that if the current basic plan of this policy has any Payor Benefit or Waiver of Premium rider with claim in progress, the relevant benefit shall be automatically terminated from the effective date of Currency Switch Option. If any complementary policies and riders are not accepted to retain under the original policy, such complementary policies and riders shall be automatically terminated from the effective date of Currency Switch.

5. While the policy is in force and the Insured is still alive, after the end of the 3^rd Policy Year or the end of the premium payment period (whichever is later), and subject to the prevailing rules of the Company, you may exercise Policy Split Option to create one or more separate policy(ies) (the “Split Policy(ies)”), allocating a portion of Unit from the basic plan of the policy to the Split Policy(ies) but subject to the following conditions without 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(ies) must not be less than the minimum Unit amount we permit at the time of your request; (ii) the insured of the Split Policy(ies) 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(ies) will be the same as the basic plan of the policy unless otherwise specified; (ii) the Unit, face value and cash value of Reversionary Bonus and Terminal Bonus (if any), accumulated value of Stable Asset Account (if any) will be reduced and transferred to the Split Policy(ies) according to the ratio of the Unit allocated to the basic plan of the policy and the Split Policy(ies). We will determine the existing and future amounts of Guaranteed Cash Value, the face value and cash value of Reversionary Bonus and Terminal Bonus (if any); and future premium respectively for both the basic plan of the policy and the Split Policy(ies) according to your allocation of the Units; (iii) the total premiums paid for both the basic plan of the policy and the Split Policy(ies) will be adjusted according to your allocation of Units and will be used to calculate death benefit; (iv) subject to the rules of the Company, all riders (if any) under the policy will continue to be effective after the Split; (v) the beneficiary(ies), Policy Owner, Contingent Policy Owner (if designated), Initial Insured, Insured, Policy Currency, Policy Date, Policy Effective Date and Policy Years of the basic plan of this Policy will remain unchanged and the Split Policy(ies) will have the same beneficiary(ies), Policy Owner, Contingent Policy Owner (if designated), Initial Insured, Insured, Policy Currency, Policy Date, Policy Effective Date and Policy Years of the basic plan of this policy; and (vi) previous instruction(s) made under the basic plan of the policy including but not limited to Wealth Accumulation Switching Option, Death Benefit Settlement Option and Policy Continuation Option will also apply to the Split Policy(ies) unless otherwise specified. The Split Policy(ies) will be effective only after its Policy Provisions and policy specifications are issued. Please refers to the Policy Provisions for more details of Policy Split Option.

6. Account determined in accordance with the Wealth Accumulation Switching Option provision in which its long-term target asset allocation is 100% in fixed income type securities. The value in the Stable Asset Account will be accumulated at such interest rate as may be declared by us from time to time. The current annual interest rate of the Stable Asset Account is 4.25%. (As of 27 April 2026, the accumulation interest rate of the Company’s participating USD policies has remained consistently at 4.25% since 2013.) However, interest rates on the Stable Asset Account are not guaranteed and may even be 0% in any year.

7. Changing the Insured is subject to the prevailing administrative rules and designated requirements. The Unit, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any) and the face value of Terminal Bonus (if any), any accumulated value of Stable Asset Account, Policy Date and Policy Years will remain the same on the Insured-Change Effective Date while the Plan End Date 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 64 (last birthday) or below. The change of Insured must be endorsed by the Policy 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. All riders (if any) will be terminated on the Insured-Change Effective Date. Please refer to the Policy Provisions for details of Changing of Insured Option. 

8. Prior to the death of the Insured, the Policy Owner can assign one or two beneficiary(ies) for the Policy Continuation Option and specify the proportion of the Death Proceeds to be paid to each beneficiary for the Policy Continuation Option. Upon the death of the Insured, if the Policy Owner (still alive) and the Insured are different persons, the beneficiary will become the Continued New Insured; if the Policy Owner died at the same time or the Policy Owner and the Insured is the same person, subject to the prevailing administrative rules of the Company, the beneficiary will become the new Policy Owner and Continued New Insured of the policy in order to keep the policy in force after  the Insured dies. If Policy Continuation Option has been exercised, and (i) only one beneficiary is designated under the policy and such beneficiary has been elected for the Policy Continuation Option prior to the death of the Insured, after this option has been exercised, all Units, total premiums paid, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any), the face value of Terminal Bonus (if any) and any accumulated value of Stable Asset Account (if any), Policy Date and Policy Years will remain unchanged on the Policy Continuation Effective Date, while the respective plan end date of the basic plan of the policy will be adjusted to the date of policy anniversary on the 128th birthday of the Continued New Insured or the immediately following policy anniversary (whenever is applicable); (ii) if there is more than one beneficiary designated under the policy and one or two beneficiary(ies) has/have been elected for the Policy Continuation Option prior to the death of the Insured, one or two basic plan(s) of the policy will be created upon the death of the Insured, and regarding each newly created basic plan, the respective unit, total premiums paid, Guaranteed Cash Value, the respective face value of accumulated Reversionary Bonuses (if any) and the respective face value of Terminal Bonus (if any) and any respective accumulated values of the Stable Asset Account will be adjusted according to the proportion of the Death Proceeds specified by the Policy Owner for each beneficiary selected for the Policy Continuation Option. The respective Policy Date and Policy Years will remain unchanged on the Policy Continuation Effective Date, while the respective 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 the immediately following policy anniversary (whenever 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 for the beneficiary who has also been elected for the Policy Continuation Option, you shall cancel the Death Benefit Settlement Option arrangement for such beneficiary before your submission of any written request for the Policy Continuation Option. All riders (if any) will be terminated on the Policy Continuation Effective Date. For the beneficiary(ies) who has/have not been elected for the Policy Continuation Option (if any), the Death Benefit will be paid to each of these beneficiary(ies) in a lump sum or the respective option under the Death Benefit Settlement Option provision elected by the Policy Owner. If the Policy Owner has selected both Policy Continuation Option and Death Benefit Settlement Option, Policy Continuation Option will automatically be exercised (regardless of the order of selection). After Policy Continuation Option has been exercised, the Policy Continuation Option and Death Benefit Settlement Option previously selected by the Policy Owner will automatically become invalid Please refer to the Policy Provisions for details of Policy Continuation Option. 

Please note that (i) Policy Custody Value-added Service, (ii) Designation of Contingent Policy Owner and (iii) Designation of Contingent Beneficiary belong to other policy services. For the relevant terms and conditions, please refer to the respective service application forms and the “Notification of Policy Service Confirmation.” CTF Life has the sole and absolute discretion to approve or reject applications for such service. All applications are subject to the relevant terms and conditions, which may be determined and amended by us from time to time without prior notice.

9.  Policy value withdrawal is subject to the Company’s minimum Unit requirement and the relevant terms and conditions. For regular withdrawals to designated payee(s), the relationship of eligible designated payee(s) must meet the Company’s requirements. The Company reserves the right , at its discretion, to request proof of relationship and to amend the relevant terms and conditions from time to time as necessary. Policy value withdrawal belongs to other policy services. For details, please refer to the relevant service application form and the “Notification of Policy Service Confirmation.”

10. Premium Holiday is not applicable to the policy with single premium as the premium payment period.  Regardless of whether there has been any change of Policy Owner throughout the premium payment period, if the Policy Owner is diagnosed with Cancer, Severe Heart Attack, or Stroke (the “Covered Illness”), the Premium Holiday Period may be extended after we have received the prescribed form submitted by the Policy Owner together with the medical certificate completed by the attending doctor of the Policy Owner, in accordance with the applicable premium payment period, as follows: (i) If the premium payment period is 5 years, 2 year extended Premium Holiday Period may be offered, and the aggregated Premium Holiday Period will be extended to 4 years; or (ii) If the premium payment period is 12 years, 4 years extended Premium Holiday Period may be offered, and the aggregate Premium Holiday Period will be extended to 8 years. Notwithstanding that the Policy Owner may be diagnosed with more than one Covered Illness, extension of Premium Holiday Period will be limited to one time for each policy. Premium Holiday Period for each application should be a multiple of 1 year until it reaches the maximum limit. Premium Holiday is only applicable to the basic plan. The Policy Owner may submit an application at the earliest within 60 days immediately before the 2nd policy anniversary, and it will be effective on the next policy anniversary, but all riders attached to the policy will be terminated at the same time. We will defer the premium end date and premium due date according to the Premium Holiday Period approved. Riders attached to the policy can be re-attached after Premium Holiday, however, the premium and approval should be subject to rider application at that time. During the Premium Holiday, you do not need to pay premiums for the basic plan, the Units, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any), accumulated value of Stable Asset Account and protection under the basic plan will remain unchanged during the period, provided that you have not partially surrendered during the Premium Holiday. The cash value of Reversionary Bonus and Terminal Bonus (if any) are non-guaranteed. During the Premium Holiday, we will not declare any face value of non-guaranteed Reversionary Bonus. Please refer to the Policy Provisions for details of Premium Holiday and Covered Illness.

11. If the Policy Owner opts for payment of a specified percentage of the death benefit in a lump sum and the remaining balance by  installments, the lump sum amount should be 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 or expected period. If the Death Benefit and/or accrued interest (if any) remain after the last installment is paid, we will pay the remaining balance of the Death Benefit and accrued interest (if any) in a lump sum to the beneficiary. If the beneficiary has been selected as designated beneficiary for the Policy Continuation Option, you should cancel the arrangement under the Policy Continuation Option by written request before your submission of an application for the Death Benefit Settlement Option for the respective beneficiary(ies). For the beneficiary(ies) who has/have not been elected for the Policy Continuation Option, the Death Benefit will be paid in a lump sum or pursuant to the Death Benefit Settlement Option in accordance with the option elected by the Policy Owner to each of these beneficiary(ies) depending on the respective option elected by the Policy Owner. If the Policy Owner has selected both Policy Continuation Option and Death Benefit Settlement Option, Policy Continuation Option will automatically be exercised (regardless of the order of selection). After Policy Continuation Option has been exercised, the Policy Continuation Option and Death Benefit Settlement Option previously selected by the Policy Owner will automatically become invalid. Please refer to the Policy Provisions for details of Death Benefit Settlement Option.

For the “Customised Life Event”, only one customised life event can be designated for each Primary Beneficiary, and which must be able to provide sufficient, available and satisfactory evidence. “First-in-market” service feature is the result of comparing similar major insurance policy services of major life insurance companies in Hong Kong as of 4 Dec 2025. Please note that the Death Benefit Settlement Option (including “Life Event Option”) and Default Mentally Incapable Option Policy Service belong to other policy services. For the relevant terms and conditions, please refer to the respective service application forms and “Notification of Policy Service Confirmation”. CTF Life has the sole and absolute discretion to approve or reject applications for such service. All applications are subject to the relevant terms and conditions, which may be determined and amended by us from time to time without prior notice.

12. Upon full surrender, the Policy 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 Policy 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 Policy Owner’s estate. Please refer to the Policy Provisions for details of Full Surrender.

13. There are 2 types of premium waivers: (i) “Waiver of Premium Benefit” is applicable to the Insured whose age at policy issuance or the change of Insured is between 18 and 60 and is the Policy Owner at the same time, and is diagnosed with total permanent disability before the age of 75. (ii) “Payor Benefit” is applicable to the latest Insured whose age at policy issuance or the change of the Insured is at the age 17 or below; the latest Policy Owner (including contingent Policy Owner) whose age at policy issuance or the change of the Policy Owner (including Contingent Policy Owner) is at the age of 60 or below, and dies or is diagnosed with total permanent disability before the age of 75. After the waived premium of the basic plan reaches the maximum total amount of premium waived (per Insured) and/ or on the waiver of premium end date (until the premium end date that is set at the time of policy issuance), the Policy Owner should pay the remaining premium; otherwise, the automatic premium loan will be applied, or the policy will be terminated. In addition to the premiums stated above, if premiums falling due in the relevant Waiver of Premium Benefit Period are paid before we approve a claim of this benefit, such premiums will be fully refunded (with no interest). If the incident is resulted from accident, immediate protection will be given. If a person dies or is diagnosed with total permanent disability due to illness, a 2-year waiting period is required. Please refer to the Policy Provisions for details of “Waiver of Premium Benefit” and “Payor Benefit”.

14.The face value and cash value of Reversionary Bonus are non-guaranteed. However, once declared, the declared face value of

Reversionary Bonus will become guaranteed and forms a permanent addition to the policy. Non-guaranteed Reversionary Bonus may be declared at the sole discretion of the Company (i) from the 1st policy anniversary; provided that (ii) all premiums due have been paid up to each relevant policy anniversary; and (iii) no Premium Holiday has ever been taken effect. We will pay the cash value of Reversionary Bonus (if any) upon surrender (full surrender or partial surrender), maturity, policy termination due to non-payment of premium; or transfer the cash value of Reversionary Bonus (if any) to the Stable Asset Account (if applicable) under the Wealth Accumulation Switching Option provision. You may withdraw cash value of the Reversionary Bonus (if any) (in full surrender or partial surrender) by written. After the withdrawal of cash value of Reversionary Bonus, the face value of Reversionary Bonus, and the face value and cash value of Reversionary Bonus of the policy in the future will be reduced. Please refer to the Policy Provisions for details of Reversionary Bonus.

15. A non-guaranteed Terminal Bonus may be declared for this Plan by the company starting from the 1st policy anniversary. Non-guaranteed Terminal Bonus and its amount may be paid at the sole discretion of the Company. The cash value of Terminal Bonus should be either equal to or less than the face value of Terminal Bonus. We will pay the cash value of Terminal Bonus (if any) upon surrender (full surrender or partial surrender), maturity, policy termination due to non-payment of premium; or transfer the cash value of Terminal Bonus (if any) to the Stable Asset Account (if applicable) under the Wealth Accumulation Switching Option provision.

16. Total premiums paid referred as the total amount of premium(s) due and paid for the basic plan of the policy or Split Policy(ies) (if established under the terms of Policy Split Option), and (i) before any other premium discount (if any); (ii) 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, and (iii) any amount in the Premium Deposit Account (if applicable) does not form part of the total premiums paid.

17. The current interest rate offered is 2% p.a. but it is not guaranteed.

18. The premium prepayment option is only applicable to annual premium payment mode. The prepaid premium will be credited to the premium deposit account and accumulate at the prevailing interest rate offered at that time (the current interest rate offered is 2% p.a.), but it is not guaranteed. You can withdraw the full amount of the prepaid premiums from the premium deposit account. However, any interest credited will be forfeited. If the amount of the premium deposit account is not sufficient to pay the premium and premium levy due to a decrease in interest rate, the Policy Owner is required to make up the relevant premium difference (including premium levy). Otherwise, the policy will be terminated or subject to an automatic premium loan. If the Insured passes away, the premium deposit account balance (if any) will be payable to the Policy Owner without any charge.

19. Total permanent disability refers to any of the following that results from an illness or injury: (i) the total and irrecoverable loss of sight of both eyes; or (ii) the complete and permanent paralysis of 2 limbs or actual severance at or above wrist or ankle of 2 limbs; or (iii) total and irrecoverable loss of the sight of 1 eye and either the complete and permanent paralysis of 1 limb or actual severance at or above wrist or ankle of 1 limb.

20. 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(ies) (if created pursuant to Policy Split Option provision) up to the date of death of the Insured and (i) before any other premium discount (if any); (ii) pro-rated by the ratio of remaining Units at the time of death of the Insured to the Units at policy issuance; and(iii) any amount in the Premium Deposit Account (if applicable) does not form part of the total premiums paid.

21. 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.

22. The minimum premium is calculated before any other premium discount (if any).