FWD ALTITUDE KFS_10

Transcription

1 PRODUCT KEY FACTS Altitude II FWD Life Insurance Company (Bermuda) Limited January 2015 This statement provides you with key information about this product. This statement is a part of the offering document. You should not invest in this product based on this statement alone. For those terms which are capitalized, please refer to the "Glossary" section on page 9 of this statement for explanations. Quick facts Name of insurance company: Single or regular premium: Regular premium frequency: Minimum premium payment term: Policy currency: Minimum investment: FWD Life Insurance Company (Bermuda) Limited Regular Premium (with optional Booster Premium) Monthly, semi-annually or annually 5 years USD or HKD Regular Premium Annually: US$1,500 or HK$12,000 Semi-annually: US$750 or HK$6,000 Monthly: US$125 or HK$1,000 Each optional Booster Premium US$1,500 or HK$12,000 Maximum investment: Period with surrender charge: Death benefit: N/A, but subject to underwriting reguirements Premium Term (years) Surrender Charge Period 5 First 5 policy years 10 / 15 / 20 First 10 policy years 25 First 12 policy years The higher of a) 105% of the Total Account Value of the ILAS policy or b) total premium paid (less any partial withdrawal) Additionally, in the event of the death of the insured as a result of an Accident and the death occurs within 180 days from date of the Accident, total Regular Premiums payable for the ILAS policy within the first policy year from the policy inception date or US$12,500/ HK$100,000, whichever is lesser in amount, will be payable as an accidental death benefit (applicable for the first 10 policy years). For details, please refer to page 23 of the principal brochure of Altitude II. Governing Law of policy: The laws of the Hong Kong Special Administrative Region Page 1 (PMH061CB1501)

2 Altitude II Important o o This investment-linked assurance scheme ("ILAS policy") is a long-term investment-cum-life insurance product. It is only suitable for investors who: - understand that the principal will be at risk - are prepared to hold the investment for a long-term period - have both investment and estate planning objectives as it is a packaged product that includes both investment and insurance element with death benefits payable to third party beneficiaries. This ILAS policy is not suitable for investors with short- or medium-term liquidity needs. o Fees and charges Up to 8.3% of your premiums after taking into account all applicable bonuses will be paid to FWD Life Insurance Company (Bermuda) Limited (herein after called the "Company") to cover all the fees and charges at the ILAS policy level, of which the cost of life protection is 0.3%, and this will reduce the amount available for investment. Please note that the above figures are calculated based on the following assumptions: (a) the life insured is non-smoking 40 year-old male (b) the payment of regular premium of HKD100,000 per annum which is paid in full for the whole Premium Term of 20 years; (c) you hold your ILAS policy for 20 years; (d) an assumed rate of return of 3% per annum throughout 20 years; (e) any optional supplementary benefits are not included; and (f) there is no early withdrawal / termination of your ILAS policy. You must understand that these ILAS level charges are on top of, and in addition to, the underlying funds level charges. The above figures do not take into account any early surrender charge. The above percentages of your premiums for covering the total fees and charges are calculated based on the assumptions above for illustration purposes. The actual percentages may change depending on individual circumstances of each case, and will be significantly higher if the premium amount is lower and/or your selected underlying investments are making losses. o Long-term features Early surrender charge (Surrender charge): (a) There will be an early surrender charge of up to 85% of the Account Value of the Initial Contribution Account in case of surrender within the Surrender Charge Period. You may also lose your entitlement to the contribution bonus and loyalty bonus. Bonuses (b) Contribution bonus: While the ILAS policy is in force, a contribution bonus may be payable to you every 5 years from the policy inception date until the end of the Premium Term. You will be entitled to a contribution bonus of up to 9% of the average monthly Account Value of the Accumulation Contribution Account over the immediately preceding 60 months prior to the allocation of the contribution bonus. Prior to the allocation of the contribution bonus, any premium holiday taken, partial withdrawal or reduction in Regular Premium will result in adjustment to your contribution bonus. Page 2

3 Altitude II Important o o Long-term features (Cont.) (c) Loyalty bonus: While the ILAS policy is in force and for Premium Term of 10 years or longer a loyalty bonus may be payable to you at the end of the Premium Term. The loyalty bonus is payable once only and is equal to 100% of the total policy fee deducted throughout the whole Premium Term. Intermediaries remuneration Although you may pay nothing directly to the intermediary who sells/distributes this ILAS policy to you, your intermediary will receive remuneration which, in effect, will be borne out of the charges you pay. Your intermediary should disclose to you in writing at the point-of-sale information about intermediary remuneration. The amount of remuneration actually receivable by your intermediary may vary from year to year and may be higher in the early policy years. You should ask your intermediary before taking up your ILAS policy to know more about the remuneration that your intermediary will receive in respect of your ILAS policy. If you ask, your intermediary should disclose the requested information to you. What is this product and how does it work? o o o o o o o This product is an investment-linked assurance scheme. It is a life insurance policy issued by the Company. This is not a fund authorised by the SFC pursuant to the Code on Unit Trusts and Mutual Funds ( UT Code ). The premiums you pay, after deduction of any applicable fees and charges of your ILAS policy, will be invested by the Company in the underlying funds you selected (see below) and will accordingly go towards accretion of the value of your ILAS policy. Your ILAS policy value will be calculated by the Company based on the performance of your selected underlying funds from time to time and the ongoing fees and charges which will continue to be deducted from your ILAS policy value. Note, however, that all premiums you pay towards your ILAS policy, and any investments made by the Company in the underlying funds you selected, will become and remain the assets of the Company. You do not have any rights or ownership over any of those assets. Your recourse is against the Company only. Due to the various fees and charges levied by the Company on your ILAS policy, the return on your ILAS policy as a whole may be lower than the return of the underlying funds you selected. Please see pages 6 to 8 of this statement for details of the fees and charges payable by you. Underlying funds available for selection are the funds listed in the investment choices brochure. These may include funds authorised by the SFC pursuant to the UT Code, but may also include other portfolios internally managed by the Company on a discretionary basis not authorised by the SFC under the UT code. Although your ILAS policy is a life insurance policy, because your death benefit is linked to the performance of the underlying funds you selected from time to time, your death benefit is subject to investment risks and market fluctuations. The death benefit payable may be significantly less than your premiums paid and may not be sufficient for your individual needs. More importantly, you should be aware of the following regarding your death benefit and the cost of insurance ( insurance charges ): - Part of the fees and charges you pay that will be deducted from the value of your ILAS policy will be used to cover the insurance charges for the life coverage and any additional coverage you may choose. - The insurance charges will reduce the amount that may be applied towards investment in the underlying funds selected. - The insurance charges may increase significantly during the term of your ILAS policy due to factors such as age and investment losses, etc. This may result in significant or even total loss of your premiums paid. - If the value of your ILAS policy becomes insufficient to cover all the ongoing fees and charges, including the insurance charges, your ILAS policy may be terminated early and you could lose all your premiums paid and benefits. - You should consult your intermediary for details, such as how the charges may increase and could impact the value of your ILAS policy. Page 3

4 Altitude II What are the key risks? Investment involves risks. Please refer to the principal brochure for details including the risk factors. o Credit and insolvency risks - This product is an insurance policy issued by the Company. Your investments are subject to the credit risks of the Company. o o o The investment choices available under this product can have very different features and risk profiles. Some may be of high risk. Please read the principal brochure and the offering document of the underlying funds involved for details. Early surrender/withdrawal penalty - This ILAS policy is designed to be held for a long term period. Early surrender or withdrawal of the ILAS policy/suspension of or reduction in premium may result in a significant loss of principal and bonuses awarded. Poor performance of underlying funds/assets may further magnify your investment losses, while all charges are still deductible. Premium Holiday - With no premium contribution during premium holiday, the value of this ILAS policy may be significantly reduced due to fees and charges, which are still deductible during premium holiday, and your entitlement to bonuses may also be affected. If you take a premium holiday (i.e. the Regular Premium is not paid) for a continuous period of 3 years, we reserve the right to deem your ILAS policy surrendered. On surrender of your ILAS policy, the Account Value after deducting the outstanding fees and charges (if any) including surrender charge will be paid to you. Please see pages 6 to 8 of this statement for details of the fees and charges. o o o Market risks - Return of this ILAS policy is contingent upon the performance of the underlying funds and therefore there is a risk of capital loss. Foreign exchange risks - The investment returns of your ILAS policy may be subject to foreign exchange risks as some of the underlying funds may be denominated in a currency which is different from that of your ILAS policy. Early termination risks - FWD may effect termination of your ILAS Policy as a result of, or purporting to be in respect of U.S. Foreign Account Tax Compliance Act and/or other applicable laws and regulations relating to tax reporting and withholding. Is there any guarantee? o This product does not have any guarantee of repayment of principal. You may not get back the full amount of premium you paid and may suffer investment losses. Page 4

5 Altitude II Other features o Three distinctive bonuses o Instant bonus Upon policy inception, instant bonus may be payable in one lump sum or you can choose to receive your instant bonus in 12 equal monthly installments during the first policy year. o Contribution bonus and Loyalty bonus While the ILAS policy is in force, a contribution bonus and/or loyalty bonus may be payable to you. Please refer to the sub-section Long-term features for further details. o Bonus(es) will be allocated to your Initial Contribution Account by allocating notional units of the latest designated investment choices of the ILAS policy at the time of bonus allocation. o Please refer to the What Are My Bonuses? section in the product brochure of Altitude II for details. o Accidental death benefit o This ILAS policy provides an accidental death benefit due to Accident during the first 10 policy years, subject to the terms and conditions of the ILAS policy. Please refer to the "What Is My Life Coverage?" section in the product brochure of Altitude II for details. o Partial withdrawal o Partial withdrawals may be made from either the Initial Contribution Account or the Accumulation Contribution Account by redeeming notional units of investment choices from your ILAS policy, subject to the requirement for maintaining the Minimum Remaining Account Values. Currently, there are no charges applicable to partial withdrawals. The minimum partial withdrawal amount is US$250/HK$2,000. Please refer to the "How Can I Get Access To My Policy Values?" section in the product brochure of Altitude II for details. Page 5

6 Altitude II What are the fees and charges? The Company reserves the right to vary the policy charges or impose new charges with not less than 1 month s prior written notice or such shorter period of notice in compliance with the relevant regulatory requirements. Scheme Level Fees & charges Applicable rates Frequency and Deducted from Administrative charge (5.8 12)% of the Account Value of the Initial Contribution Account per month (i.e. 5.8% per annum) Deducted from: Initial Contribution Account Frequency: On the first policy charges due date after the policy inception date and thereafter on each Monthiversary until the end of the Surrender Charge Period How to deduct: By redeeming notional units according to your latest designated investment choices of the account under your ILAS policy Booster Premium charge (Only apply if Booster Premium is paid) The charge will depend on the amount of each Booster Premium as stated below: Booster Premuium Amount (US$) Booster Premuium Amount (HK$) Charge per Booster Premium Payment* <12,500 <100,000 5% 12,500 and 100,000 and 4% <62,500 <500,000 62, ,000 3% * The charge is expressed as a percentage of each Booster Premium. Deducted from: Booster Premium Frequency: Up-front when each Booster Premium is paid How to deduct: Deducted up-front from each Booster Premium payment. The net premium is then deposited into the Accumulation Contribution Account under your ILAS policy by allocating notional units in investment choices as designated by you Cost of insurance Cost of insurance per month = Cost of insurance rate for the policy year / 12 x net amount at risk on the policy charge due date The cost of insurance will be determined based on the net amount at risk (i.e. the death benefit amount less 100% of the Account Value of the ILAS policy). No cost of insurance will be charged if the net amount at risk is zero or lesser. The cost of insurance rate for the policy year depends on the attained age next birthday of the insured at the start of the policy year and gender of the insured. Please refer to the Cost of Insurance Table in Appendix I of the Product Brochure, for details. Deducted from: Initial Contribution Account during the Initial Contribution Period, and thereafter from Accumulation Contribution Account Frequency: On the first policy charges due date after the policy inception date and thereafter on each Monthiversary while the ILAS policy is still in force How to deduct: By redeeming notional units according to your latest designated investment choices of the respective account under your ILAS policy Page 6

7 Altitude II What are the fees and charges? (Cont.) Scheme Level (Cont.) Fees & charges Applicable rates Frequency and Deducted from Investment portfolio management charge Partial withdrawal charge Policy fee Surrender charge (Early surrender charge) Switching / Reallocation charge 0.125% of the Account Value per month (i.e. 1.50% per annum) before the end of the relevant Premium Term 0.08% of the Account Value per month (i.e. 0.96% per annum) after the end of the relevant Premium Term Nil US$7.5/HK$60 per month (i.e. US$90/HK$720 per annum) The surrender charge will be determined as a percentage of the (i) surrender amount of the Initial Contribution Account upon full surrender or (ii) redeemed amount of the Initial Contribution Account upon termination (except death of the insured), as the case may be, depending on the Premium Term and the number of policy years after the policy inception date. Please refer to the "Surrender Charge Table" in Appendix for details. The surrender charge will be applied to the Account Value of the Initial Contribution Account. For termination of your ILAS policy, which occurs before the end of a policy year, the surrender charge will be determined by interpolating the rates as at the beginning and the end of that policy year. Nil Deducted from: Each of the Initial Contribution Account and Accumulation Contribution Account Frequency: On the first policy charges due date after the policy inception date and thereafter on each Monthiversary while the ILAS policy is still in force How to deduct: By redeeming notional units according to your latest designated investment choices of the respective account under your ILAS policy N/A Deducted from: Initial Contribution Account during the Initial Contribution Period, and thereafter from Accumulation Contribution Account Frequency: On the first policy charges due date after the policy inception date and thereafter on each Monthiversary while the ILAS policy is still in force How to deduct: By redeeming notional units according to your latest designated investment choices of the respective account under your ILAS policy Deducted from: The surrender amount / redeemed amount from the Initial Contribution Account Frequency: At policy surrender or termination (except death of the insured) How to deduct: By redeeming notional units of your latest designated investment choices of the Initial Contribution Account under your ILAS policy N/A Please refer to the "Summary of Charges?" section (pages 33 to 35) in the product brochure of Altitude II for details of the fees and charges. Page 7

8 Altitude II What are the fees and charges? (Cont.) Underlying funds level You should note that the underlying funds of the investment choices may have separate charges on management fee, performance fee, bid-offer spread and/or switching fee. You do not pay these fees directly either (1) the fees will be deducted and such reduction will be reflected in the unit price of the underlying funds or (2) notional units will be redeemed from your investment choices to pay these fees. For details, please refer to the offering documents of the underlying funds and/or the principal brochure of Altitude II, which are available from the Company upon request. What if you change your mind? Cooling-off period o o o Cooling-off period is a period during which life insurance policyholders may cancel their policies and get back their original investments (subject to market value adjustment) within the earlier of 21 days after the delivery of the ILAS policy or issue of a notice to you or your representative. Such notice should inform you of the availability of the ILAS policy and expiry date of its cooling-off period. Please refer to the cooling off initiative issued by HKFI from time to time for reference. You have to tell the Company by giving a written notice. Such notice must be signed by you and received directly by the Company at 1/F Customer Service, FWD Financial Centre, 308 Des Voeux Road Central, Hong Kong. You may get back the amount you paid, or less if the value of the investment choices has gone down. Insurance company s information FWD Life Insurance Company (Bermuda) Limited Address: 28/F., FWD Financial Centre, 308 Des Voeux Road Central, Hong Kong Phone: Fax: cs.hk@fwd.com Website: Important The Company is subject to the prudential regulation of the Insurance Authority. However, the Insurance Authority does not give approval to individual insurance products, including the Company s ILAS plan referred to in this statement. If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. Page 8

9 Altitude II Glossary The following terms have the meanings set out below: Terms Accident Accumulation Contribution Account Account Value Booster Premium Initial Contribution Account Initial Contribution Period Monthiversary Minimum Remaining Account Value Policy Account Premium Term Regular Premium Surrender Charge Period Meanings An unforeseen and unexpected event or contiguous series of events of violent, accidental, external and visible nature which shall be the sole cause of a bodily injury while the ILAS policy is in force. An account set up for the policyholder and used to maintain the notional units allocated to the ILAS policy in respect of Regular Premium paid after the Initial Contribution Period and any Booster Premium(s). Account Value is the number of notional units multiplied by the unit price of the investment choices under your ILAS policy on the relevant Valuation Date, net of applicable underlying fund charges and ongoing fees and charges (if any). An optional lump sum payment specified and made by the policyholder into the Accumulation Contribution Account for the allocation of notional units of investment choices. An account set up for the policyholder and used to maintain the notional units allocated to the ILAS policy in respect of Regular Premium paid during the Initial Contribution Period and any bonus(es) received. The initial period commencing from the policy inception date. Initial Contribution Period ranges from 18 to 36 months depending on the Premium Term during which Regular Premium is used for the allocation of notional units to the Initial Contribution Account. The same date each month as the policy inception date. If the Monthiversary does not exist in a particular month, it will be the last day of the month. If the Monthiversary is not a business day, it will be postponed to the next business day. An amount required to be maintained in the Initial Contribution Account and Accumulation Contribution Account of the ILAS policy immediately after partial withdrawal. An account set up for the policyholder and used to maintain the total notional units of investment choices of the Initial Contribution Account and the Accumulation Contribution Account of the ILAS policy. The period equals to the number of years as shown in the policy schedule for which Regular Premium is payable. The premium regularly made into the Policy Account for the allocation of notional units as shown in the policy schedule or endorsement if changed subsequently. The period during which the surrender charge is payable upon surrender. The Surrender Charge Period in respect of each Premium Term is set out in the table below: Premium Term (years) Surrender Charge Period 5 First 5 policy years 10 / 15 / 20 First 10 policy years 25 First 12 policy years Total Account Value Valuation Date The aggregate of the Account Values of both the Initial Contribution Account and the Accumulation Contribution Account. The Valuation Date of an investment choice is the day on which the unit price is determined. The frequency of the Valuation Date shall be on each business day under normal circumstances. Where a particular day is not a business day, the Valuation Date is postponed to the next business day. Under circumstances which the Company may consider as beyond the Company s control, the date and frequency of the Valuation Date may be adjusted and determined at the absolute discretion of the Company. Page 9

10 Altitude II Appendix - Surrender Charge Table As at Start of Policy Year Premium Term (years) % 53% 64% 75% 85% 2 27% 51% 61% 73% 84% 3 23% 33% 41% 49% 58% 4 22% 32% 38% 39% 46% 5 21% 31% 37% 38% 45% 6 0% 30% 36% 37% 44% 7 0% 29% 35% 36% 43% 8 0% 28% 34% 35% 42% 9 0% 27% 33% 34% 41% 10 0% 26% 32% 33% 40% 11 0% 0% 0% 0% 39% 12 0% 0% 0% 0% 38% 13 and thereafter 0% 0% 0% 0% 0% Notes: The rate of the relevant surrender charge during the policy year will be determined by interpolating the rates as at the beginning and the end of that year. Page 10

11 II ( ) / 15 / (PMH061CB1501)

12 II o o o

13 II

14 II

15 II

16 II <12,500 <100,000 5% 12, ,000 4% <62,500 < 500,000 62, ,000 3%

17 II

18 II

19 II ( ) / 15 /

20 II % 53% 64% 75% 85% 2 27% 51% 61% 73% 84% 3 23% 33% 41% 49% 58% 4 22% 32% 38% 39% 46% 5 21% 31% 37% 38% 45% 6 0% 30% 36% 37% 44% 7 0% 29% 35% 36% 43% 8 0% 28% 34% 35% 42% 9 0% 27% 33% 34% 41% 10 0% 26% 32% 33% 40% 11 0% 0% 0% 0% 39% 12 0% 0% 0% 0% 38% 13 0% 0% 0% 0% 0%

21 Addendum I to principal brochure product brochure 主要銷售刊物附件 I 產品介紹 Issue date: 1 January 2016 刊發日期 : 2016 年 1 月 1 日 This addendum shall form part of and should be read in conjunction with the offering document of Altitude II ( the Policy ) which consists of the product brochure ( PB ), the product key facts statement and the investment choices brochure. Such documents are available from FWD Life Insurance Company (Bermuda) Limited upon request and on our website at The version numbers are as follows: 此附件屬於智非凡 II ( 保單 ) 主要銷售刊物之一部份 應與 保單 銷售文件一併細閱 保單 的銷售文件包括產品介紹, 產品資料概要及投資選擇刊物 銷售文件可向富衛人壽保險 ( 百慕達 ) 有限公司索取或可從本公司之網頁 下載 文件的版本編號如下 : Name of the Policy 保單名稱 Altitude II 智非凡 II Product brochure 產品介紹 / Product key facts statements 產品資料概要 PMH061AC1501 & PMH061AE1501 / PMH061CB1501 Investment choices brochure 投資選擇刊物 PMH061BB1501 as amended by the addendum to principal brochure investment choices brochure issued on 13 March 2015, 27 April 2015, 17 July 2015, 7 August 2015, 19 August 2015, 18 September 2015 and 30 November 2015 (PMH061DB1503, PMH061DB1504, PMH061DB1507, PMH061DB1508, PMH061DB1508a, PMH061DB1509 and PMH061DB1511) 經由 2015 年 3 月 13 日 2015 年 4 月 27 日 2015 年 7 月 17 日 2015 年 8 月 7 日 2015 年 8 月 19 日 2015 年 9 月 18 日及 2015 年 11 月 30 日刊發的主要銷售刊物附件 投資選擇刊物作修訂 (PMH061DB1503 PMH061DB1504 PMH061DB1507 PMH061DB1508 PMH061DB1508a PMH061DB1509 及 PMH061DB1511) Page 1 of 2 (PMH061EB1601)

22 With effect from 1 January 2016, a new sub-section Contracts (Rights of Third Parties) Ordinance is inserted in the PB (version number PMH061AE1501) immediately after the sub-section Foreign Account Tax Compliance Act on page 42 as follows:- 由 2016 年 1 月 1 日起, 產品介紹 ( 版本編號 PMH061AC1501) 第 41 頁 外國帳戶稅務合規法 部分之後, 新增 合約 ( 第三者權利 ) 條例 部分如下 : Contracts (Rights of Third Parties) Ordinance The policy is excluded from the application of the Contracts (Rights of Third Parties) Ordinance of Hong Kong. Other than FWD and the policyholder, a person who is not a party to the policy contract (e.g. a third party beneficiary) will have no right under the Ordinance to enforce any of its terms. 合約 ( 第三者權利 ) 條例 本港之合約 ( 第三者權利 ) 條例不適用於您的保單 除本公司及保單持有人外, 如非為保單合約一方 ( 例如第三者受益人 ), 將無權在該條例下執行保單合約之任何條款 Page 2 of 2

23 1 (PMH061AE1501) INSURANCE

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25 1 Product Brochure The principal brochure of Altitude II consists of this product brochure and the investment choices brochure. This product brochure should be issued and read in conjunction with the rest of the offering documents of Altitude II. The offering documents are comprised of: a) This product brochure; b) The product key facts statement; and c) The investment choices brochure (which sets out the list of investment choices currently available for selection under Altitude II). For definitions of the capitalised terms used in this product brochure, please refer to the Glossary section.

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27 3 Taking advantage of the benefits and features of your Altitude II policy Your Altitude II policy Altitude II is both a life insurance policy and a means of investment. Keep reading and you will find more details about how Altitude II can cater to your insurance and financial needs. Altitude II is a Regular Premium investment linked insurance policy under Class C linked long-term business as defined in Part 2 of Schedule 1 of the Insurance Companies Ordinance. Altitude II is offered by FWD Life Insurance Company (Bermuda) Limited (hereafter, FWD, the Company, we, us or our ) as an authorised insurer in Hong Kong under the Insurance Companies Ordinance. Your investments are therefore subject to the credit risks of FWD.

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29 5 Content How Does Altitude II Work?...6 What Are My Bonuses?...10 What Is My Life Coverage?...22 How Can I Manage My Investment Choices? How Can I Get Access To My Policy Values? Summary of Charges General Information Glossary...44 Appendix I...46 Appendix II...50

30 6 How does Altitude II Work?

31 7 Altitude II is a Regular Premium insurance policy. To meet your personal needs, you can choose from a Premium Term ranging from 5, 10, 15, 20 or 25 years for making your Regular Premium payments. You can also choose between US Dollars or Hong Kong Dollars for the policy currency. Once these options are chosen at policy inception, they cannot be changed afterwards. Upon your successful application of an Altitude II policy, a policy will be issued to you. From here onwards, the term Policy in this product brochure shall mean the Altitude II policy. Dual Account Structure (5/10/15/20/25years) (5/10/15/20/25years) (deducted during the Surrender Charge Period (5/10/12 years) depending on the Premium Term), Cost of Insurance and (1) Any premium holiday taken, partial withdrawal or reduction in Regular Premiums will result in adjustment to the contribution bonuses entitlement. (Please refer to the subsection Contribution bonus for details on adjustment to the contribution bonuses.) Notes: Bonuses are payable while the policy is still in force. Please refer to the What Are My Bonuses? section for details on the bonuses. Surrender charge may apply to the Initial Contribution Account in the event of surrender. Please refer to the Summary of Charges section for details on the fees and charges.

32 8 Altitude II has a dual account structure (Initial Contribution Account and Accumulation Contribution Account) to record all premiums paid over the Premium Term. As illustrated in the diagram above, Regular Premiums paid during the Initial Contribution Period will be recorded in the Initial Contribution Account, while Regular Premiums paid after the Initial Contribution Period will be recorded in the Accumulation Contribution Account. At any time, Altitude II allows you to top up with a Booster Premium into your Policy that will be recorded in the Accumulation Contribution Account after the respective booster premium charge. Your premiums will be credited to the Initial Contribution Account and/or the Accumulation Contribution Account of your Policy by allocating notional units according to your respective designated investment choices. Please refer to the investment choices brochure for details on the investment choices. Initial Contribution Period The Initial Contribution Period ranges from 18 months to 36 months depending on the Premium Term you selected for your Policy. Premium Term 5 years 10 years 15 years 20 & 25 years Initial Contribution Period 18 months 24 months 30 months 36 months During the Initial Contribution Period, if the Regular Premium is unpaid within a grace period of 30 days after the premium due date, your Policy will be terminated. After deducting the surrender charge from the surrender amount, the net surrender value, if any, will be paid to you. Please refer to the Summary of Charges section for details on the surrender charge. Regular Premiums To start your Altitude II policy, you can pay Regular Premiums monthly, semi-annually or annually from US$125/HK$1,000 per month. Premium Mode Monthly Semi-annually Annually Minimum Regular Premium Requirement US$125/HK$1,000 US$750/HK$6,000 US$1,500/HK$12,000 Booster Premiums As time goes by, you may want to top up your Policy at any time in response to the changing market environment. To provide you with this flexibility while the insured and policyholder are age 75 or younger, Altitude II allows you to pay Booster Premium at any time. The minimum Booster Premium you can pay on each occasion is US$1,500/HK$12,000. A booster premium charge will be applied to each Booster Premium payment. The Booster Premium after the booster premium charge will be credited to your Accumulation Contribution Account by allocating notional units in proportion to your designated investment choices. Please refer to the Summary of Charges section for details on the booster premium charge. Premium Adjustment Your personal financial situation may change from time to time. Altitude II anticipates this by allowing you to adjust the amount of your Regular Premium subject to terms and conditions as described below. To increase your Regular Premium to a level above the initial amount committed on the policy commencement date is not allowed. The entire Regular Premium payment will be credited to your Policy by allocating notional units in proportion to your latest designated investment choices at the time.

33 9 Decrease in Regular Premiums After the Initial Contribution Period, you may apply for reduction of your Regular Premium, subject to meeting the minimum Regular Premium requirement as set out in the table under subsection Regular Premiums. Currently, the minimum annualised Regular Premium amount per policy is US$1,500/HK$12,000. After reducing your Regular Premium, you may restore the Regular Premium to the initial amount subject to our approval. Any reduction in Regular Premiums may result in significant loss to the Total Account Value of your Policy and the contribution bonuses awarded. Please refer to the What Are My Bonuses? section for details. Poor performance of the underlying funds may further magnify the loss of the Total Account Value of your Policy, while all charges will remain deductible. Premium Holiday After the Initial Contribution Period, you may exercise the premium holiday option by temporarily suspending your Regular Premium. During premium holiday, all relevant fees and charges and premium of riders (if any) will continue to be deducted from your policy. If the Account Value of the Accumulation Contribution Account at any point in time is not sufficient for us to cover all the fees and charges and premium of riders (if any), you will have to resume paying your premiums as and when notified by us, failing which your Policy will be deemed surrendered when your Account Value of the Accumulation Contribution Account reaches zero. If the premium holiday is for a continuous period of three years, we reserve the right to deem your Policy surrendered. Upon the surrender of your Policy, the Account Value after deducting the outstanding fees and charges (if any) including surrender charge will be paid to you. Please refer to the Summary of Charges section for details on fees and charges. Altitude II is designed to be held for a long term period. Any premium holiday taken may result in significant loss to the Total Account Value of your Policy and the contribution bonuses awarded. Please refer to the What Are My Bonuses? section for details. Poor performance of the underlying funds may further magnify the loss of the Total Account Value of your Policy, while all charges will remain deductible. Please note: The respective maximum levels of the Regular Premium and Booster Premium amounts are subject to underwriting requirements. We reserve the right to vary the requirements of the minimum Regular Premium and Booster Premium amounts with not less than one month s prior written notice or such shorter period of notice in compliance with the relevant regulatory requirements. We will invest the premiums received, after any applicable fees and charges, into the underlying funds corresponding to the investment choices as selected by you for our asset liability management. Please refer to the Summary of Charges and How Can I Manage My Investment Choices? sections for details. Premiums paid towards the Policy will become and remain our assets. You are not investing in the underlying funds and do not have any rights or ownership over any of those assets. Your recourse is against us only.

34 10 What Are My Bonuses?

35 11 Are you looking for something extra from your life insurance policy? With Altitude II, you could be rewarded through three distinctive bonuses to help you grow your Account Value and potentially facilitate your savings targets. We offer three distinctive bonuses at different stages of your investment journey to provide you with enhanced benefits, which are: - Instant bonus; - Contribution bonus; and - Loyalty bonus. Bonuses will be allocated as additional notional units to your Initial Contribution Account according to your latest designated investment choices at the time of bonus allocation. Instant bonus You could have instant rewards as soon as your Policy starts with the instant bonus. The instant bonus is payable to you in one lump sum at policy inception date. Alternatively, if you are worried about the market volatility, you may choose to receive the instant bonus in 12 equal monthly installments during the first policy year. The first monthly installment will be payable to you on policy inception date and the remaining installments will be payable to you on each of the Monthiversaries during the first policy year. Once the mode by which you will receive the instant bonus has been determined, it cannot be changed.

36 12 The instant bonus rates are shown as follows: Premium Term Total Annualised Total Annualised 5 years 10 years 15 years 20 years 25 years Regular Premium (USD) Regular Premium (HKD) Instant Bonus Rate* 3,000 and < 6,000 24,000 and < 48, % 2.35% 2.00% 1.80% 1.80% 6,000 and < 9,000 48,000 and < 72, % 2.80% 2.40% 2.20% 2.20% 9,000 and < 15,000 72,000 and < 120, % 3.25% 2.80% 2.60% 2.60% 15,000 and < 18, ,000 and < 144, % 3.70% 3.20% 3.00% 3.00% 18,000 and < 24, ,000 and < 192, % 4.15% 3.60% 3.40% 3.40% 24,000 and < 36, ,000 and < 288, % 4.60% 4.00% 3.80% 3.80% 36, , % 5.50% 4.80% 4.40% 4.40% * The instant bonus rate is expressed as a percentage of the annualised Regular Premium and does not represent the rate of return or the performance of your investment choices. Instant bonus = Instant bonus rate (in %) Premium Term (in years) annualised Regular Premium The instant bonus rate is determined by the annualised Regular Premium amount, the Premium Term and the latest instant bonus rate table applicable at the time of bonus entitlement. Your eligible instant bonus in the Policy will be allocated as additional notional units to the Initial Contribution Account of your Policy according to your latest designated investment choices at the time of bonus allocation. Please refer to Illustrative example 1 for details. Illustrative example 1 Instant bonus Peter likes the idea of an investment linked insurance policy which is a long-term investment-cum-life insurance product. He successfully applied for an Altitude II policy, opting for a Premium Term of 25 years and Hong Kong Dollars as the policy currency, with Regular Premium of HK$10,000 payable monthly beginning on 1 Feb The annualised Regular Premium payable as at 1 Feb 2015 = HK$10,000 x 12 = HK$120,000 Based on Premium Term of 25 years and annualised Regular Premium of HK$120,000, the instant bonus rate is 3.00%.

37 13 Therefore, instant bonus as at 1 Feb 2015 = instant bonus rate x Premium Term x annualised Regular Premium = 3.00% x 25 x (HK$10,000 x 12) = HK$90,000 Alternatively, Peter could choose to receive the instant bonus in 12 equal monthly installments. i.e. HK$90,000/12 = HK$7,500, received each month during the first policy year. Contribution Bonus We appreciate your dedication to pay premiums regularly. While the Policy remains in force, a contribution bonus will be given to you every five years from the policy inception date until the end of the Premium Term. The contribution bonus is determined as a percentage of the average monthly Account Value of the Accumulation Contribution Account over the immediately preceding 60 months multiplied by the contribution bonus adjustment factor. Peter opts to receive the instant bonus in one lump sum (i.e. HK$90,000) on 1 Feb The bonus will be allocated as additional notional units to the Initial Contribution Account of the Policy according to Peter s latest designated investment choices at the time of bonus allocation. Contribution bonus = ( ) Contribution bonus rate (in %) x Sum of monthly Account Value of the Accumulation Contribution Account over the immediately preceding 60 months x Contribution bonus adjustment factor 60 The above example is hypothetical and for illustrative purposes only. The instant bonus is subject to the regular fees and charges of the Initial Contribution Account. Please refer to the Summary of Charges section for details. If you cancel the Policy within the cooling-off period, you may get back the premium you paid, or less if the value of the investment choices has gone down. You will not be entitled to any instant bonus. The contribution bonus rate is determined by the Premium Term of your Policy and number of the policy years from the policy inception date. The contribution bonus rates are shown in the contribution bonus rate table below: End of Premium Term Policy Year 5 years 10 years 15 years 20 years 25 years 5 6% 10 N/A 6% 15 N/A 9% 20 N/A 9% 25 N/A 9%

38 14 The contribution bonus will be allocated as additional notional units to your Initial Contribution Account according to your latest designated investment choices at the time of bonus allocation. The contribution bonus will be allocated no later than 30 days following every fifth policy year. The contribution bonus is subject to the regular fees and charges of the Initial Contribution Account. Please refer to the Summary of Charges section for details. Prior to determining the contribution bonus, any premium holiday taken, partial withdrawal or reduction in Regular Premiums will result in a downward adjustment to your contribution bonus through the application of a contribution bonus adjustment factor. Contribution bonus adjustment factor = ( ) ( ) total Regular Premium paid total partial withdrawal amount annualised Regular Premium on policy inception no. of policy years since policy inception Note: If the total partial withdrawal amount made from your Policy equals or exceeds the total Regular Premium paid, it will cause your contribution bonus adjustment factor to reduce to zero and therefore the contribution bonus amount will be zero. Illustrative example 2 Contribution bonus without adjustment Continuing with Peter s case in Illustrative example 1 1. Peter has an Altitude II policy with Premium Term of 25 years and Hong Kong Dollars as the policy currency. 2. The Policy was issued on 1 Feb 2015 with Regular Premium of HK$10,000 per month. 3. It is assumed all premiums have been paid in full and no partial withdrawal has been made. 4. Peter has made no premium reduction after 1 Feb Instant bonus for the Policy has been paid in lump sum on the policy inception date. The contribution bonus that Peter is entitled to receive on 1 Feb 2025, as determined based on his average monthly Account Values of the Accumulation Contribution Account over the immediately preceding 60 months and the relative contribution bonus rates are illustrated below: The Illustrative examples below are hypothetical and for illustrative purposes only and do not represent actual or anticipated returns.

39 15 Start of the policy month Policy Year Regular Premium (HKD) Accumulation Contribution Account Value as at the end of the policy month From the Regular Premium (HKD) 1-Feb-20 10, ,329 1-Mar-20 10, ,581 1-Apr-20 10, ,844 1-May-20 10, ,120 1-Jun-20 10, ,408 1-Jul-20 10, ,709 6th 1-Aug-20 10, ,022 1-Sep-20 10, ,348 1-Oct-20 10, ,686 1-Nov-20 10, ,036 1-Dec-20 10, ,399 1-Jan-21 10, ,774 1-Feb-21 10, ,161 1-Mar-21 10, ,561 1-Apr-21 10, ,973 1-May-21 10, ,398 1-Jun-21 10, ,835 1-Jul-21 10, ,284 7th 1-Aug-21 10, ,747 1-Sep-21 10, ,222 1-Oct-21 10, ,709 1-Nov-21 10, ,209 1-Dec-21 10, ,722 1-Jan-22 10, ,247

40 16 Start of the policy month Policy Year Regular Premium (HKD) Accumulation Contribution Account Value as at the end of the policy month From the Regular Premium (HKD) 1-Feb-22 10, ,784 1-Mar-22 10, ,334 1-Apr-22 10, ,897 1-May-22 10, ,472 1-Jun-22 10, ,060 1-Jul-22 10, ,660 8th 1-Aug-22 10, ,274 1-Sep-22 10, ,900 1-Oct-22 10, ,539 1-Nov-22 10, ,190 1-Dec-22 10, ,855 1-Jan-23 10, ,532 1-Feb-23 10, ,221 1-Mar-23 10, ,923 1-Apr-23 10, ,637 1-May-23 10, ,365 1-Jun-23 10, ,105 1-Jul-23 10, ,859 9th 1-Aug-23 10, ,625 1-Sep-23 10, ,404 1-Oct-23 10, ,196 1-Nov-23 10, ,001 1-Dec-23 10, ,819 1-Jan-24 10, ,650

41 17 Start of the policy month Policy Year Regular Premium (HKD) Accumulation Contribution Account Value as at the end of the policy month From the Regular Premium (HKD) 1-Feb-24 10, ,493 1-Mar-24 10, ,348 1-Apr-24 10, ,217 1-May-24 10, ,098 1-Jun-24 10, ,993 1-Jul-24 10, ,901 10th 1-Aug-24 10, ,822 1-Sep-24 10, ,756 1-Oct-24 10, ,703 1-Nov-24 10, ,663 1-Dec-24 10, ,636 1-Jan-25 10, ,622 Total (1-Feb-2020 to 31-Jan-2025): HK$33,711,876 Based on Premium Term of 25 years and it is at the end of the 10th policy year of the Policy, the contribution bonus rate for the contribution bonus of the Policy as at 1 Feb 2025 is 6%. As the Regular Premiums are paid in full and partial withdrawal has not been made, there is no adjustment to the contribution bonus and the contribution bonus adjustment factor equals to 1. Therefore, the contribution bonus that Peter is entitled to receive on 1 Feb 2025 is HK$33,712. The entitled contribution bonus will be allocated as additional notional units to the Initial Contribution Account of the Policy according to Peter s latest designated investment choices at the time of bonus allocation. Contribution bonus as at 1 Feb 2025 = Contribution bonus rate Sum of monthly Account Value of the Accumulation Contribution Account over the immediately preceding 60 months 60 Contribution bonus adjustment factor = 6% x (HK$33,711,876 60) x 1 = HK$33,712

42 18 Illustrative example 3 Contribution bonus with adjustment Following Illustrative example 1, 1. Peter has a Policy with Premium Term of 25 year and Hong Kong Dollars as the policy currency. 2. The Policy was issued on 1 Feb 2015 with Regular Premium of HK$10,000 per month. 3. It is assumed that Peter a) Took a premium holiday (i.e. skipped paying the Regular Premiums) for 2 months on 1 Jun 2020 and 1 Apr 2022; b) Reduced the Regular Premium to HK$8,000 per month from 1 Feb 2023; and c) Made a partial withdrawal of HK$20,000 on 1 Jan Based on the above, contribution bonus adjustment factors will apply to the calculation of the contribution bonuses. 4. Instant bonuses for the Policy have been paid in lump sum on the policy inception dates. The contribution bonus that Peter is entitled to receive on 1 Feb 2025, as determined based on the average monthly Account Values of the Accumulation Contribution Account over the immediately preceding 60 months are illustrated below: Start of the policy month Policy Year Regular Premium (HKD) Partial Withdrawal (HKD) Accumulation Contribution Account Value as at the end of the policy month From the Regular Premium (HKD) 1-Feb-20 10, ,329 1-Mar-20 10, ,581 1-Apr-20 10, ,844 1-May-20 10, ,120 1-Jun ,396 1-Jul-20 10, ,685 6th 1-Aug-20 10, ,986 1-Sep-20 10, ,300 1-Oct-20 10, ,625 1-Nov-20 10, ,964 1-Dec-20 10, ,314 1-Jan-21 10, ,678

43 19 Start of the policy month 1-Feb-21 Policy Year Regular Premium (HKD) Partial Withdrawal (HKD) Accumulation Contribution Account Value as at the end of the policy month From the Regular Premium (HKD) 10, ,053 1-Mar-21 10, ,440 1-Apr-21 10, ,840 1-May-21 10, ,252 1-Jun-21 10, ,677 1-Jul-21 10, ,115 7th 1-Aug-21 10, ,565 1-Sep-21 10, ,028 1-Oct-21 10, ,503 1-Nov-21 10, ,991 1-Dec-21 10, ,491 1-Jan-22 10, ,004 1-Feb-22 10, ,529 1-Mar-22 10, ,066 1-Apr ,605 1-May-22 10, ,155 1-Jun-22 10, ,719 1-Jul-22 10, ,295 8th 1-Aug-22 10, ,884 1-Sep-22 10, ,486 1-Oct-22 10, ,100 1-Nov-22 10, ,727 1-Dec-22 10, ,367 1-Jan-23 10, ,020

44 20 Start of the policy month 1-Feb-23 Policy Year Regular Premium (HKD) Partial Withdrawal (HKD) Accumulation Contribution Account Value as at the end of the policy month From the Regular Premium (HKD) 8, ,682 1-Mar-23 8, ,354 1-Apr-23 8, ,037 1-May-23 8, ,730 1-Jun-23 8, ,434 1-Jul-23 8, ,148 9th 1-Aug-23 8, ,872 1-Sep-23 8, ,607 1-Oct-23 8, ,353 1-Nov-23 8, ,109 1-Dec-23 8, ,876 1-Jan-24 8, ,653 1-Feb-24 8, ,439 1-Mar-24 8, ,236 1-Apr-24 8, ,043 1-May-24 8, ,861 1-Jun-24 8, ,689 1-Jul-24 8, ,529 10th 1-Aug-24 8, ,378 1-Sep-24 8, ,239 1-Oct-24 8, ,109 1-Nov-24 8, ,991 1-Dec-24 8, ,883 1-Jan-25 8,000-20, ,786 Total (1-Feb-2020 to 31-Jan-2025): HK$32,158,770 Based on Premium Term of 25 years and it is at the end of the 10th policy year of the Policy, the contribution bonus rate for the contribution bonus of the Policy as at 1 Feb 2025 is 6%.

45 21 Number of months with monthly Regular Premium of HK$10,000 paid as at 1 Feb 2025 from the policy inception date of 1 Feb 2015 to 31 Jan 2023 = 8 x 12 2 = 94 Number of months with monthly Regular Premium of HK$8,000 paid as at 1 Feb 2025 from 1 Feb 2023 to 31 Jan 2025 = 2 x 12 = 24 As the Regular Premiums are not paid in full and partial withdrawal has been made, contribution bonus adjustment factor applies to the contribution bonuses. Contribution bonus = A percentage of the average monthly Account Value of the Accumulation Contribution Account attributed by the Regular Premium over the immediately preceding 60 months x contribution bonus adjustment factor as at 1 Feb 2025 = Contribution bonus rate x (Sum of the Account Value of the Accumulation Contribution Account as at the end of each policy month over the immediately preceding 60 months 60) x 92.67% = 6% x (HK$32,158,770 60) x 92.67% = HK$29,802 Contribution bonus adjustment factor = total Regular Premium paid ( ) total partial withdrawal amount annualised Regular Premium on policy inception ( ) no of policy years since policy inception Therefore, the contribution bonus that Peter is entitled to receive on the Policy on 1 Feb 2025 is HK$29,802. The entitled contribution bonus will be allocated as additional notional units to the Initial Contribution Account of the Policy according to Peter s latest designated investment choices at the time of bonus allocation. Contribution bonus as at 1 Feb 2025 Contribution bonus adjustment factor as at 1 Feb 2025 = [HK$10,000 (94) + HK$8,000 (24) - HK$20,000 ] HK$10, = 92.67% Loyalty Bonus A loyalty bonus will be offered if the Premium Term of your Policy is 10 years or longer. While the Policy is in force, the loyalty bonus will be allocated as additional notional units to your Initial Contribution Account of the Policy according to your latest designated investment choices at the end of the Premium Term. The loyalty bonus will be allocated within 30 days following the end of the Premium Term. The loyalty bonus is equal to the total policy fees deducted throughout the whole Premium Term. The loyalty bonus is only paid once into your Policy and is subject to the regular fees and charges of the Initial Contribution Account. Please refer to the Summary of Charges section for details.

46 22 What Is My Life Coverage?

47 23 Insurance Protection for Your Loved Ones While the Policy is in force, the life coverage are equal to the higher of (a) 105% of the Total Account Value of your Policy or (b) total premium paid (less any partial withdrawal made). Please refer to Illustrative example 6 in Appendix I for details on how the death benefit amount will be determined. Additionally, while the Policy is in force and during the first 10 policy years of the Policy, in the event of the death of the insured as a result of an Accident and the death occurs within 180 days from the date of the Accident, an additional accidental death benefit will be paid to the beneficiary. The accidental death benefit is equal to the total Regular Premiums payable for the Policy within the first policy year from the policy inception date or US$12,500/ HK$100,000, whichever is lesser in amount. Please refer to the policy provisions, which are available at no charge from us upon request, for all exclusions under the accidental death benefit. If the insured commits suicide, whether sane or insane, the Company s liability shall be calculated as the sum of (i), (ii) and (iii) below, where: (i) If, as at the suicide date, the Regular Premium and/or each Booster Premium payment (if any) has been made for over 13 calendar months from the policy commencement date or from the booster deposit date, as the case may be, then the death benefit in respect of such premium(s) paid will be the higher of (a) the aggregate sum of the total relevant Regular Premium and Booster Premium(s) paid, less any partial withdrawal made from the Account Value attributable to the aforesaid premium(s) or (b) 105% of the Account Value attributable to the aforesaid premium(s). (ii) If, as at the suicide date, the Regular Premium has been made for no more than 13 calendar months from the policy commencement date, then the amount will be 100% of the Account Value attributable to the Regular Premium less any original amount of the instant bonuses paid. (iii) If, as at the suicide date, any Booster Premium payment has been made for no more than 13 calendar months from the booster deposit date, then the amount will be the sum of 100% of the Account Value attributable to such Booster Premium. After the Policy is reinstated, if applicable, the policy commencement date and booster deposit date (prior to the date of reinstatement) as stated in points (i), (ii) and (iii) above will be replaced by the date of reinstatement. The death benefit will be paid after deducting any unpaid premiums, fees and charges. Please refer to the policy provisions, which are available free of charge upon request, for details. Please refer to the General Information section for the administration details on claims. Your death benefits are linked to the performance of the underlying funds that you select from time to time and are subject to investment risks and market fluctuations.

48 24 Illustrative example 4 Life coverage in the event of suicide John has successfully applied for an Altitude II policy in year On 1 Feb 2015, an Altitude II policy was issued to John with Regular Premium of HK$100,000 payable annually. 2. On 1 Feb 2016, he deposited Booster Investment Premium of HK$50,000 to the Policy. 3. Unfortunately, he commits suicide and the claim is approved on 1 Aug FWD s liability for the Policy will be HK$267,400 is determined as below: Date 1 Feb 2015 (Policy inception date) Premium type Regular Premium Premium amount (HK$) $100,000 payable annually Account Value attributed to the relevant premium as of 1 Aug 2016 (HK$) $208,000 With the Regular Premium, the claim approval date is 18 months from the policy inception date (1 Feb 2015) to 1 Aug With the Booster Premium, the date of suicide and the claim approval date are 6 months from Booster Premium deposit date (1 Feb 2016) to 1 Aug Total Regular Premium paid from the policy inception date of 1 Feb 2015 to 1 Aug 2016 = HK$100,000 x 2 = HK$200,000 Death benefit attributable to the Regular Premium = The higher of (a) 105% of the Total Account Value or (b) total premium paid (less total Booster Premium paid and any partial withdrawal made) = The higher of (a) 105% x HK$208,000 or (b) (HK$200,000 + HK$50,000 - HK$50,000 HK$0) = HK$218,400 1 Feb 2016 (Premium deposit date) Booster Premium $50,000 $49,000

49 25 With the Booster Premium, the date of suicide and the claim approval date are 6 months from Booster Premium deposit date (1 Feb 2016) to 1 Aug FWD s liability attributable to the Booster Premium = 100% of the Account Value attributable to the Booster Premium = 100% x HK$49,000 = HK$49,000 Therefore, FWD s total liability for the Policy is HK$218,400 + HK$49,000 = HK$267,400 The above example is hypothetical and for illustrative purposes only and does not represent actual or anticipated returns. Optional Rider Benefits To enhance your protection benefits, a wide range of optional rider benefits is available to cater to your special needs. Additional rider premiums as well as other terms and conditions will be applicable to the optional rider benefits. Additional underwriting may be required if you apply for any optional rider benefits. Please contact your advisor for details on the optional rider benefits.

50 26 How Can I Manage My Investment Choices?

51 27 With Altitude II, you are in complete control of your investment decisions. Our investment choice platform offers you over a hundred investment choices linked to the underlying funds invested in different business sectors, geographical locations and asset classes. It is our philosophy to bring you investment choices that are carefully selected by our qualified investment professionals. Investment Choices Altitude II allows you to diversify your investment according to multiple business sectors, geographical locations and asset classes, as well as investment managers. You can construct your own investment portfolio by allocating premiums into your chosen investment choice(s), subject to a minimum allocation per investment choice of 10% of the premiums paid after deduction of premium charges, if any. The Company reserves the right to change the minimum allocation requirement with not less than one month s prior written notice or such shorter period of notice in compliance with the relevant regulatory requirements. The investment choices available under Altitude II can have very different features and risk profiles. Some may be of high-risk. Please refer to the investment choices brochure for details on the investment choices. The units allocated to your Policy are notional in nature and solely for the purpose of determining the Total Account Value of your Policy. You do not have any rights or ownership over the assets in the underlying funds. Unlimited Switching / Reallocation of Investment Choices Altitude II allows you to rebalance your investment portfolio at any time by switching between investment choices within the same account of the Policy (i.e. you cannot switch units from the Initial Contribution Account to the Accumulation Contribution Account, and vice versa). This may help you better manage your wealth and allow you to change your investment strategy to keep pace with your needs and changes in the market. Currently, the minimum switching amount is US$125/HK$1,000. We understand the importance of making swift responses to market changes. Allowing you to re-align your investment strategy at anytime from anywhere, you can request switching/reallocation of investment choices via our customer online service or by contacting us directly. Currently, there is no limit on how often you can switch or reallocate your investment choices, and no switching/reallocation charge will be imposed for doing so. However, we reserve the right to impose such charges with not less than one month s prior written notice or such shorter period of notice in compliance with the relevant regulatory requirements.

52 28 How Can I Get Access To My Policy Values?

53 29 We understand that over time there are many circumstances that could impact your financial well-being. In anticipation of this and in case of emergency, you can make a partial withdrawal or fully surrender your policy to accommodate your financial needs while the policy is in force. Partial Withdrawals You may make withdrawals from your Initial Contribution Account and/or Accumulation Contribution Account by redeeming notional units of the respective Policy Account, please refer to below for details. The minimum amount to be withdrawn is currently US$250/ HK$2,000 per policy. At present, there are no charges applicable to partial withdrawals but they are subject to maintaining the relevant Minimum Remaining Account Value on a per Policy basis. If the value of your Initial Contribution Account and/or Accumulation Contribution Account for which you made the withdrawal immediately after such withdrawal is less than the relevant Minimum Remaining Account Value, as specified below, your Policy shall be terminated and subjected to the applicable surrender charge. Any partial withdrawals made from your Policy will reduce the contribution bonuses. Please refer to the What Are My Bonuses? section for details. From Initial Contribution Account You may make partial withdrawals from the Initial Contribution Account after the Surrender Charge Period, as long as the Minimum Remaining Account Value of the Initial Contribution Account immediately after the partial withdrawal is positive. However, before end of the Surrender Charge Period, partial withdrawal could only be made from the Accumulation Contribution Account. From Accumulation Contribution Account Partial withdrawals may also be made from your Accumulation Contribution Account whenever you like, subject to of the Minimum Remaining Account Value of the Accumulation Contribution Account immediately after the partial withdrawal is US$2,500/HK$20,000 or greater. Surrender You may surrender the Policy if and when you so desire and fully withdraw the Total Account Value from the Policy. If the Policy has been on premium holiday for a continuous period of three years, we reserve the right to deem your Policy surrendered. On surrender of your Policy all notional units in your account will be redeemed. After deducting the outstanding fees and charges (if any) including surrender charges, the net amount will be paid to you. Please refer to the Summary of Charges section for details on fees and charges.

54 30 Illustrative example 5 Surrender An Altitude II policy has been issued to Mary in year On 1 Mar 2015, an Altitude II policy was issued to Mary. The Policy has a Premium Term of 10 years with an 24-month Initial Contribution Period, US Dollars as the policy currency and Regular Premium of US$25,000 payable annually. 2. Mary decides to surrender her Policy on 1 Jun 2018 (i.e. 3 years and 3 months from the inception date of the Policy). After deducting the surrender charges, the net surrender value will be paid to Mary. The actual payment to Mary will be US$103,220 as illustrated below. surrender charge 53% 51% 33% 32% 31% 30% 29% 28% 27% 26% 0% Referring to the Surrender Charge Table in the Appendix II, Rate of the surrender charge (as at start of the 4th policy year) = 32% Rate of the surrender charge (as at start of the 5th policy year) = 31% By interpolation, rate of the surrender charge as at 1 Jun 2018 ( ) 32% x No. of months outstanding to the beginning of next policy year +31% x No. of months elapsed since the end of last policy year = 12 (32% x % x 3) = 12 = 31.75%

55 31 Net surrender value as at 1 Jun 2018: Assumed Account Value on 1 Jun 2018 Rate of the Surrender Charge Net Surrender Value Initial Contribution Account US$56, % US$56,000 - US$56,000 x 31.75% = US$38,220 Accumulation Contribution Account US$65,000 N/A US$65,000 Total: US$103,220 The above example is hypothetical and for illustrative purposes only and does not represent actual or anticipated returns. Please note: Altitude II is designed to be held for a long term period. Any early surrender or partial withdrawal may result in significant loss to the Total Account Value of your policy and the contribution bonuses awarded. Please refer to the What Are My Bonuses? section for details. Poor performance of underlying funds may further magnify the loss of the Total Account Value of your Policy, while all charges will remain deductible.

56 32 Summary of Charges

57 33 We reserve the right to vary the policy charges or impose new charges with not less than one month s prior written notice or such shorter period of notice in compliance with the relevant regulatory requirements. Policy Level Fees & charges Applicable rates Frequency and Deducted from Administrative Charge (5.8 12)% of the Account Value of the Initial Contribution Account per month (i.e. 5.8% per annum) Deducted from: Initial Contribution Account Frequency: On the first policy charges due date after the policy inception date and thereafter on each Monthiversary until the end of the Surrender Charge Period Booster Premium Charge (Only apply if Booster Premium is paid) The charge will depend on the amount of each Booster Premium as stated below: Booster Premium Amount (US$) Booster Premium Amount (HK$) Charge per Booster Premium Payment* <12,500 <100,000 5% >12,500 and <62,500 >100,000 and <500,000 4% >62,500 >500,000 3% *The charge is expressed as a percentage of each Booster Premium. How to deduct: By redeeming notional units according to your latest designated investment choices of the account under your Policy Deducted from: Booster Premium Frequency: Up-front when each Booster Premium is paid How to deduct: Deducted up-front from each Booster Premium payment. The net premium is then deposited into the Accumulation Contribution Account under your Policy by allocating notional units in investment choices as designated by you

58 34 Fees & charges Applicable rates Frequency and Deducted from Cost of Insurance Cost of insurance per month Deducted from: = Cost of insurance rate for the policy year / 12 Initial Contribution Account during the Initial Contribution Period, and thereafter from x net amount at risk on the policy charge due date Accumulation Contribution Account The cost of insurance will be determined based on the Frequency: net amount at risk (i.e. the death benefit amount less On the first policy charges due date after the 100% of the Account Value of the Policy). No cost of policy inception date and thereafter on each insurance will be charged if the net amount at risk is Monthiversary while the Policy is still in force zero or lesser. Investment Portfolio Management Charge Partial Withdrawal Charge The cost of insurance rate for the policy year depends on the attained age next birthday of the insured at the start of the policy year and gender of the insured. Please refer to the Cost of Insurance Table and Illustrative example 6 in Appendix I, for details % of the Account Value per month (i.e. 1.50% per annum) before the end of the relevant Premium Term 0.08% of the Account Value per month (i.e. 0.96% of per annum) after the end of the relevant Premium Term Nil How to deduct: By redeeming notional units according to your latest designated investment choices of the respective account under your Policy Deducted from: Each of the Initial Contribution Account and Accumulation Contribution Account Frequency: On the first policy charges due date after the policy inception date and thereafter on each Monthiversary while the Policy is still in force How to deduct: By redeeming notional units according to your latest designated investment choices of the respective account under your Policy N/A Policy Fee US$7.5/HK$60 per month (i.e. US$90/HK$720 per annum) Deducted from: Initial Contribution Account during the Initial Contribution Period, and thereafter from Accumulation Contribution Account

59 35 Fees & charges Applicable rates Frequency and Deducted from Frequency: On the first policy charges due date after the policy inception date and thereafter on each Monthiversary while the Policy is still in force Surrender Charge The surrender charge will be determined as a percentage of the (i) surrender amount of the Initial Contribution Account upon full surrender or (ii) redeemed amount of the Initial Contribution Account upon termination (except death of the insured), as the case may be, depending on the Premium Term and the number of policy years after the policy inception date. Please refer to the Surrender Charge Table in Appendix II, for details. The surrender charge will be applied to the Account Value of the Initial Contribution Account. For termination of your Policy, which occurs before the end of a policy year, the surrender charge will be determined by interpolating the rates as at the beginning and the end of that policy year (please refer to Illustrative example 5). How to deduct: By redeeming notional units according to your latest designated investment choices of the respective account under your Policy Deducted from: The surrender amount / redeemed amount from the Initial Contribution Account Frequency: At policy surrender or termination (except death of the insured) How to deduct: By redeeming notional units of your latest designated investment choices of the Initial Contribution Account under your Policy Switching/ Reallocation Charge Nil N/A Underlying Fund Level You should note that the underlying funds of the investment choices may have separate charges on management fee, performance fee, bid-offer spread and/or switching fee. You do not pay these fees directly either (1) the fees will be deducted and such reduction will be reflected in the unit price of the underlying funds or (2) notional units will be redeemed from your investment choices to pay these fees. Please refer to the offering documents of the underlying funds and/or the principal brochure of Altitude II, which are available from the Company upon request, for details.

60 36 General Information

61 37 Account Value Checking To check your Account Value, simply log-in to your customer online service account on our website at You can also visit our website for up-to-date unit prices of the investment choices. Of course, you can always contact us directly to check your Account Value. On an annual basis, a statement will also be provided to you showing the Total Account Value of your Policy. Your Account Value is calculated by multiplying the number of notional units of investment choices in your account by the most up-to-date unit prices. The unit prices of the investment choices will be exactly the same as those of the respective underlying funds. The return on investment is calculated with reference to the fluctuation of the performance of the underlying funds. However, please note that such returns on investments under the Policy are subject to the charges of your Policy and may be lower than the returns from the underlying investments. Each underlying funds has its own investment objectives and associated risks. Please refer to the offering documents of the respective underlying fund, which are available on our website at or can be obtained from us upon request, for details. Please also note that the Total Account Value of your Policy will be adversely impacted by any investment loss. Allocation of Premiums For each investment choice selected, you must allocate at least 10% of your premiums paid after deduction of premium charges, if any. Except for a suspension of dealing of the underlying funds or other circumstances which are considered as beyond our control, the allocation of the notional units of the investment choices selected by you will be effective on the next Dealing Date after we receive the 1) cleared funds and 2) the duly completed forms by 4:00pm Hong Kong time on a business day. We reserve the right to defer the date of unit allocation if the information provided is insufficient or does not meet our requirements. Application Procedure To apply for Altitude II, simply return a completed policy application form and a signed illustration document together with the relevant payment to us. We reserve the right to decline any applications for Altitude II if the information provided by the proposed insured during application is insufficient or does not meet our requirements. Borrowing Power Altitude II has no borrowing powers. Please refer to the offering documents of the respective underlying funds, which are available on our website at or can be obtained from us upon request, for details on the borrowing powers and investment restrictions of the underlying funds. Claim To make a claim, a completed and signed prescribed form should be given to us as soon as possible. The prescribed form can be obtained from your advisor or us. While the Policy remains in force and the claim has been approved, the proceeds of the claimed benefit will be paid in the policy currency within 30 business days after the Dealing Date following the date when the satisfactory requirements of the claims application has been received by us.

62 38 Cooling-Off Period The cooling-off period is a period during which life insurance policyholders may cancel their policies and get back their premiums paid (subject to market value adjustment), without interest, within the 21 days after the delivery of the Policy or issue of a notice to you or your representative. Such notice should inform you of the availability of the Policy and the expiry date of its cooling-off period. Please refer to the cooling-off initiative issued by The Hong Kong Federation of Insurers from time to time for reference. If you decide to cancel your Policy, you must inform us by giving a written notice. Such notice must be signed by you and received directly by us at 1/F Customer Service, FWD Financial Centre, 308 Des Voeux Road Central, Hong Kong. You may get back the premium you paid, or less if the value of the investment choices has gone down. No refund will be given if a claim payment has been made. Eligible Age for Policy Application Altitude II is available when the respective ages next birthday of the insured and the policyholder, relative to the time of application, fall under the range indicated below:- Premium Term Age Next Birthday of the Insured Age Next Birthday of the Policyholder 5 years 1 to 60 years 19 to 60 years 10, 15 or 20 years 1 to 55 years 19 to 55 years 25 years 1 to 50 years 19 to 50 years The insured who attains the age of 1 upon next birthday must be at least 15-day-old at the time of policy application. Governing Law Your Policy is issued under and will be construed in accordance with the laws of the Hong Kong Special Administrative Region. Grace Period We allow a grace period of 30 days after the premium due date for payment of each Regular Premium. During the Initial Contribution Period, if the Regular Premium is unpaid after the expiration of the grace period, we reserve the right to terminate the Policy and redeem all units under the Policy Account on any Dealing Date not later than 60 days from the termination of the Policy. Investment Choice Changes An investment choice may be merged with other investment choices or terminated. Under this circumstance, we will give you with not less than one month s prior written notice or such shorter period of notice in compliance with the relevant regulatory requirements to switch your notional units in the affected investment choices and/or direct new premiums to other investment choices offered under Altitude II. If we do not receive your instructions for switching and/or changing allocation before the deadline stated in the written notice, we will switch the affected investment choices and/or direct your new premiums to the default investment choices as stated in the written notice. Investment Choice Switching/Reallocation Your Policy gives you the flexibility to change your investment choices an unlimited number of times (subject to a minimum switching amount of US$125/HK$1,000 each time) to suit your financial goals. Currently, there is no charge for switching/reallocation.

63 39 To request the switching/reallocation of investment choices, you need to complete and sign a prescribed form, which can be obtained from your advisor or from us. Alternatively, you may submit your request via an electronic form, as prescribed by us from time to time. Currently, you can request the switching/reallocation of investment choices via our customer service online platform on our website at com.hk. The switching-out instruction will normally be executed on the next Dealing Date after the receipt of your duly completed switching request by 4:00pm Hong Kong time on a business day. The switching-in instruction will normally be executed no more than four Dealing Dates after the completion of the switching out transaction, except in the case of suspension of dealing of the underlying funds or other circumstances which are beyond our control. We reserve the right to change the requirements and/or the relevant procedure with not less than one month s prior written notice or such shorter period of notice in compliance with the relevant regulatory requirements. Maturity Benefit While this Policy is in force and the insured is alive, maturity benefit will be payable to you upon the expiry date of the Policy, i.e., the policy anniversary immediately preceding the hundredth (100th) birthday of the insured. The maturity benefit will be the Total Account Value for the Policy after deducting any unpaid premiums, fees and charges. Other Administration FWD reserves the right to vary the minimum requirements on Regular Premium, Booster Premium, Minimum Remaining Account Values, partial withdrawal amount, allocation per investment choice on your premium or switching amount between investment choices from time to time. Not less than 1 month s prior written notice or such shorter period of notice in compliance with the relevant regulatory requirements will be given for any increase to such minimum requirements. Partial Withdrawal Procedure To make partial withdrawals, you need to complete and sign the prescribed form, which can be obtained from your advisor or from us. Except for a suspension of dealing of the underlying funds or other circumstances which are beyond our control, the redemption of notional units will be effected on the next Dealing Date after the receipt of the duly completed request for partial withdrawal by 4:00pm Hong Kong time on a business day. We reserve the right to change the requirements and/or the relevant procedure with not less than one month s prior written notice or such shorter period of notice in compliance with the relevant regulatory requirements. Please refer to the sub-section Partial Withdrawal for further details. Policy Currency Altitude II is available in both US Dollars and Hong Kong Dollars. Premiums can be made in the policy currency chosen by you on the policy inception date. Benefits will be paid in the same policy currency as the premiums are paid. The policy currency cannot be changed after the policy inception date. Any premiums paid in a different currency to the policy currency will be converted at the prevailing exchange rate determined by us from time to time with reference to market rates. Therefore, it may be subject to foreign

64 40 exchange risks in the process of currency conversion. The denominating currency of each investment choice may differ from the policy currency. Please refer to the investment choices brochure for details. When the denominating currency of your investment choice is different from the policy currency, any allocation, switching or redemption of the investment choice will be subject to foreign exchange risks in the process of currency conversion. Policy Termination This Policy shall terminate on the earliest of the following: The expiry date of the Policy, i.e., the policy anniversary immediately preceding the hundredth (100th) birthday of the insured; The date of policy surrender. Such date is determined in accordance with the Company s applicable rules and regulations in relation to policy surrender. If the Regular Premium is suspended for three consecutive years due to premium holiday, the Company may exercise its right to deem the Policy surrendered. Please refer to the sub-section Premium Holiday for details; Non-payment of Regular Premium during the Initial Contribution Period; The date of the Company s acceptance of the notification of the death of the insured; The Account Value of the Accumulation Contribution Account (after the Initial Contribution Period) is equal to or less than zero on any Valuation Date; The Total Account Value of the Policy (after the Surrender Charge Period) is equal to or less than zero on any Valuation Date; The Account Value of the Initial Contribution Account drops below the Minimum Remaining Account Value of the Initial Contribution Account (dollar zero) solely as a result of a partial withdrawal; and The Account Value of the Accumulation Contribution Account drops below the Minimum Remaining Account Value of the Accumulation Contribution Account (US$2,500/HK$20,000) solely as a result of a partial withdrawal. The Policy will not be terminated if the Account Values of the Initial Contribution Account and Accumulation Contribution Account falls below the respective Minimum Remaining Account Values due solely to market fluctuation. The Policy will be terminated if the Policy is insufficient to cover the relevant fees and charges. If your Policy is terminated, all notional units of the investment choices in your Policy will be redeemed. Except in the case of the death of the insured, if your Policy is terminated before the end of the Surrender Charge Period, the redeemed value will be subject to a surrender charge. Please refer to the Summary of Charges section for details on the surrender charge. Premium Adjustment Application To apply for an adjustment in Regular and/or Booster Premiums, simply return to us a completed and signed prescribed form, which can be obtained from your advisor or from us, together with the relevant payments. To increase your Regular Premium to a level above the initial amount committed on the policy commencement date is not allowed. You may apply for a Booster Premium at any time when the age on next birthday of the insured and the policyholder, relative to the time of application, is 75 or younger.

65 41 Usual administration rules apply to any adjustment in Regular and/or Booster Premiums. We reserve the right to decline the application if the information provided by the insured during application is insufficient or does not meet our requirements. Premium Mode Regular Premiums can be contributed monthly, semi-annually or annually. The premium mode may be changed as requested by you on or before the premium due date. Rounding of Units and Unit Prices The number of notional units of the investment choices redeemed or subscribed is currently rounded to the nearest five decimal places. The rounding method for determining the unit price is prescribed by the respective underlying fund manager. Please refer to the offering documents of the respective underlying fund, which are available on our website at or can be obtained from us upon request, for details. Surrender Procedure If you wish to surrender your Policy, simply return to us 1) a completed prescribed form, which can be obtained from your advisor or from us, as well as 2) your policy document. All the notional units of the investment choices in your account will be redeemed. This will normally be executed on the next Dealing Date after the receipt of the duly completed surrender request by 4:00pm Hong Kong time on a business day. Afterwards, your Policy will be terminated. The net surrender value will normally be payable within 30 days after the receipt of the duly completed surrender request. No interest is payable for the period between the date the notional units are cancelled from your account and the date of payment of the net surrender value. Suspension of Dealing Under circumstances which we consider as beyond our control, the date and frequency of the Valuation Date and Dealing Date are at our absolute discretion, and we will act in good faith when exercising such discretion. Please refer to the policy provisions, which are available at no charge from us upon request, for details. Taxation Interest, income and capital gains from the redemption and disposal of investment choices are exempt from taxation under the current Inland Revenue Ordinance of the Hong Kong Special Administrative Region. However, you are advised to seek professional guidance regarding your own particular tax circumstances.

66 42 Foreign Account Tax Compliance Act Under the U.S. Foreign Account Tax Compliance Act ( FATCA ), a foreign financial institution ( FFI ) is required to report to the U.S. Internal Revenue Service ( IRS ) certain information on U.S. persons that hold accounts with that FFI outside the U.S. and to obtain their consent to the FFI passing that information to the IRS. An FFI which does not sign or agree to comply with the requirements of an agreement with the IRS ( FFI Agreement ) in respect of FATCA and/or who is not otherwise exempt from doing so (referred to as a nonparticipating FFI ) will face a 30% withholding tax ( FATCA Withholding Tax ) on all withholdable payments (as defined under FATCA) derived from U.S. sources (initially including dividends, interest and certain derivative payments). The U.S. and Hong Kong reached an inter-governmental agreement ( IGA ) to facilitate compliance by FFIs in Hong Kong with FATCA and which creates a framework for Hong Kong FFIs to rely on streamlined due diligence procedures to (i) identify U.S. indicia, (ii) seek consent for disclosure from its U.S. policyholders and (iii) report relevant tax information of those policyholders to the IRS. FATCA applies to FWD and the Policy. FWD is a participating FFI. FWD is committed to complying with FATCA. To do so, FWD requires you to comply with the following obligations (the Information Obligations ): (i) provide to FWD certain information including, as applicable, your U.S. identification details (e.g. name, address, the US federal taxpayer identifying numbers, etc); and (ii) consent to FWD reporting such information and your account information (such as account balances, interest and dividend income and withdrawals) to the IRS. If you fail to comply with the Information Obligations (being a Non-Compliant Accountholder ), FWD is required to report aggregate information of account balances, payment amounts and number of non-consenting US accounts to IRS. In addition, FWD may determine to effect termination of your Policy as a result of, or purporting to be in respect of FATCA and/or other applicable laws and regulations relating to tax reporting and withholding, in which case, FWD will return to you the Account Value (less any indebtedness by you to FWD) as of the date on which FWD informs you of the termination. No surrender charge or any other form of penalty will be applied if the termination is effected solely for said purposes. Such right of termination is permitted by the applicable laws and regulations. When determining to exercise such right of termination, FWD will act fairly, in good faith and on reasonable grounds. FWD could, in certain circumstances, be required to impose FATCA Withholding Tax on payments made to, or which it makes from, your Policy. Currently the only circumstances in which FWD may be required to do so are: (i) if the Inland Revenue Department of Hong Kong fails to exchange information with the IRS under IGA (and the relevant tax information exchange agreement between Hong Kong and the U.S.), in which case FWD may be required to deduct and withhold FATCA Withholding Tax on withholdable payments made to your Policy and remit this to the IRS; and (ii) if you are (or any other account holder is) a nonparticipating FFI, in which case FWD may be required to deduct and withhold FATCA Withholding Tax on withholdable payments made to your Policy and remit this to the IRS. You should seek independent professional advice on the impact FATCA may have on you or your Policy.

67 43 Parties Involved Insurer FWD Life Insurance Company (Bermuda) Limited 28/F., FWD Financial Centre, 308 Des Voeux Road Central, Hong Kong. Investment Managers The investment managers vary according to the underlying funds. Please refer to the investment choices brochure for details. Your return on investment is calculated or determined by us with reference to the performance of the underlying funds. Investment involves risks. Past performance should not be taken as an indication of future performance. Each investment choice is subject to market fluctuations and to risks inherent in all investments. The prices of notional units of any investment choice as designated by you and the income accrued from investing in such investment choices may go down as well as up. SFC does not take any responsibility for the contents of the offering documents, makes no representation as to its accuracy or completeness, expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of the offering documents. The principal brochure is not a Policy. Please refer to the policy provisions, which are available at no charge from us upon request, for details on the terms, conditions, exclusions and charges. This product brochure is issued by FWD Life Insurance Company (Bermuda) Limited Jan 2015 (date of publication) For any enquiries or to make complaints in relation to this product or our services, please contact us by telephone (852) , fax (852) or at cs.hk@fwd.com. We accept full responsibility for the accuracy of the information contained in the offering documents. Please note that we have the discretion to waive the requirements and limits in this product brochure from time to time. We also confirm, having made all reasonable enquiries, that to the best of our knowledge and belief there are no other facts that if omitted would make any statement misleading. Altitude II is authorised by the Securities and Futures Commission (the SFC ). SFC authorisation is not a recommendation or endorsement of Altitude II nor does it guarantee the commercial merits of Altitude II or its performance. It does not mean Altitude II is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors.

68 44 Glossary

69 45 The following terms have the meanings set out below: Terms Meanings Terms Meanings Accident An unforeseen and unexpected event or contiguous series of events of violent, accidental, external and visible nature which shall be the sole cause of a bodily injury while the Policy is in force. An account set up for the policyholder and used to maintain the notional units allocated to the Policy in respect of Regular Premium paid after the Initial Contribution Period and any Booster Premium(s). Account Value is the number of notional units multiplied by the unit price of the investment choices under your Policy on the relevant Valuation Date, net of applicable underlying fund charges and ongoing fees and charges (if any). An optional lump sum payment specified and made by the policyholder into the Accumulation Contribution Account for the allocation of notional units of investment choices. The date on which the Company or the Company s delegate buys or sells the units of the respective investment choice on behalf of the policyholder. Dealings of an investment choice are only available on a Valuation Date. The cut off time in respect of each Dealing Date is 4:00pm Hong Kong time. Under circumstances, which the Company may consider as beyond the Company s control, the date and frequency of the Dealing Date are at the Company s absolute discretion. An account set up for the policyholder and used to maintain the notional units allocated to the Policy in respect of Regular Premium paid during the Initial Contribution Period and any bonus(es) received. The initial period commencing from the policy inception date. Initial Contribution Period ranges from 18 to 36 months depending on the Premium Term during which Regular Premium is used for the allocation of notional units to the Initial Contribution Account. The same date each month as the policy inception date. If the Monthiversary does not exist in a particular month, it will be the last day of the month. If the Monthiversary is not a business day, it will be postponed to the next business day. Minimum Remaining Account Value An amount required to be maintained in the Initial Contribution Account and Accumulation Contribution Account of the Policy immediately after partial withdrawal. An account set up for the policyholder and used to maintain the total notional units of investment choices of the Initial Contribution Account and the Accumulation Contribution Account of the Policy. The period equals to the number of years as shown in the policy schedule for which Regular Premium is payable. The premium regularly made into the Policy Account for the allocation of notional units as shown in the policy schedule or endorsement if changed subsequently. The period during which the surrender charge is payable upon surrender. The Surrender Charge Period in respect of each Premium Term is set out in the table below: Accumulation Contribution Account Policy Account Account Value Booster Premium Premium Term Regular Premium Surrender Charge Period Dealing Date Initial Contribution Account Initial Contribution Period Monthiversary Total Account Value Valuation Date Premium Term (years) Surrender Charge Period 5 First 5 policy years 10/15/20 First 10 policy years 25 First 12 policy years The aggregate of the Account Values of both the Initial Contribution Account and the Accumulation Contribution Account. The Valuation Date of an investment choice is the day on which the unit price is determined. The frequency of the Valuation Date shall be on each business day under normal circumstances. Where a particular day is not a business day, the Valuation Date is postponed to the next business day. Under circumstances which the Company may consider as beyond the Company s control, the date and frequency of the Valuation Date may be adjusted and determined at the absolute discretion of the Company.

70 46 Appendix i

71 47 Cost of Insurance Table Cost of insurance rate per US$1,000 / HK$1,000 net amount at risk Attained age next birthday of the insured at Attained age next birthday of the insured Male Female the start of the policy year at the start of the policy year Male Female to

72 48 Cost of insurance rate per US$1,000 / HK$1,000 net amount at risk Attained age next birthday of the insured at Attained age next birthday of the insured Male Female the start of the policy year at the start of the policy year Male Female

73 49 Illustrative example 6 Death benefit and Cost of insurance An Altitude II policy have been issued to Ann. 1. On 1 Feb 2015, an Altitude II policy was issued to Ann. The Policy has a Premium Term of 10 years with an 24-month Initial Contribution Period, Hong Kong Dollars as the policy currency and Regular Premium of HK$18,000 payable annually. 2. It is assumed that as at 1 Feb 2020, a. all premiums have been paid in full b. partial withdrawal of HK$10,000 has been made from the Policy on 1 Jan 2019 c. Total Account Value of the Policy is HK$120,000 On 1 Feb 2020, Ann attains age at next birthday is 30 years old. She is a female. For policy year starting from 1 Feb 2020 to 31 Jan 2021, the cost of insurance rate is HK$0.73 per HK$1,000 net amount at risk. 105% of the Total Account Value = 105% x HK$120,000 = HK$126,000 Total premium paid from the policy inception date of 1 Feb 2015 to 1 Feb 2020 (including the annual Regular Premium paid for the policy year starting 1 Feb 2020) = HK$18,000 x 6 = HK$108,000 Death benefit = The higher of (a) 105% of the Total Account Value or (b) total premium paid (less any partial withdrawal made) = The higher of (a) HK$126,000 or (b) (HK$108,000 HK$10,000) = HK$126,000 Cost of insurance per month = Cost of insurance rate 12 x net amount at risk = Cost of insurance rate 12 x (death benefit 100% of the Total Account Value) = HK$0.73 HK$1, x (HK$126, % x HK$120,000) = HK$0.365 Therefore, as at 1 Feb 2020, the death benefit of the Policy is HK$126,000 and the cost of insurance of HK$0.365 will be deducted from the Policy. The above example is hypothetical and for illustrative purposes only.

74 50 Appendix ii

75 51 Surrender Charge Table As at Start of Policy Year Premium Term (years) % 53% 64% 75% 85% 2 27% 51% 61% 73% 84% 3 23% 33% 41% 49% 58% 4 22% 32% 38% 39% 46% 5 21% 31% 37% 38% 45% 6 0% 30% 36% 37% 44% 7 0% 29% 35% 36% 43% 8 0% 28% 34% 35% 42% 9 0% 27% 33% 34% 41% 10 0% 26% 32% 33% 40% 11 0% 0% 0% 0% 39% 12 0% 0% 0% 0% 38% 13 and thereafter 0% 0% 0% 0% 0% Notes: The rate of the relevant surrender charge during the policy year will be determined by interpolating the rates as at the beginning and the end of that year.

76 52

77 53

78 54

79 Addendum I to principal brochure product brochure 主要銷售刊物附件 I 產品介紹 Issue date: 1 January 2016 刊發日期 : 2016 年 1 月 1 日 This addendum shall form part of and should be read in conjunction with the offering document of Altitude II ( the Policy ) which consists of the product brochure ( PB ), the product key facts statement and the investment choices brochure. Such documents are available from FWD Life Insurance Company (Bermuda) Limited upon request and on our website at The version numbers are as follows: 此附件屬於智非凡 II ( 保單 ) 主要銷售刊物之一部份 應與 保單 銷售文件一併細閱 保單 的銷售文件包括產品介紹, 產品資料概要及投資選擇刊物 銷售文件可向富衛人壽保險 ( 百慕達 ) 有限公司索取或可從本公司之網頁 下載 文件的版本編號如下 : Name of the Policy 保單名稱 Altitude II 智非凡 II Product brochure 產品介紹 / Product key facts statements 產品資料概要 PMH061AC1501 & PMH061AE1501 / PMH061CB1501 Investment choices brochure 投資選擇刊物 PMH061BB1501 as amended by the addendum to principal brochure investment choices brochure issued on 13 March 2015, 27 April 2015, 17 July 2015, 7 August 2015, 19 August 2015, 18 September 2015 and 30 November 2015 (PMH061DB1503, PMH061DB1504, PMH061DB1507, PMH061DB1508, PMH061DB1508a, PMH061DB1509 and PMH061DB1511) 經由 2015 年 3 月 13 日 2015 年 4 月 27 日 2015 年 7 月 17 日 2015 年 8 月 7 日 2015 年 8 月 19 日 2015 年 9 月 18 日及 2015 年 11 月 30 日刊發的主要銷售刊物附件 投資選擇刊物作修訂 (PMH061DB1503 PMH061DB1504 PMH061DB1507 PMH061DB1508 PMH061DB1508a PMH061DB1509 及 PMH061DB1511) Page 1 of 2 (PMH061EB1601)

80 With effect from 1 January 2016, a new sub-section Contracts (Rights of Third Parties) Ordinance is inserted in the PB (version number PMH061AE1501) immediately after the sub-section Foreign Account Tax Compliance Act on page 42 as follows:- 由 2016 年 1 月 1 日起, 產品介紹 ( 版本編號 PMH061AC1501) 第 41 頁 外國帳戶稅務合規法 部分之後, 新增 合約 ( 第三者權利 ) 條例 部分如下 : Contracts (Rights of Third Parties) Ordinance The policy is excluded from the application of the Contracts (Rights of Third Parties) Ordinance of Hong Kong. Other than FWD and the policyholder, a person who is not a party to the policy contract (e.g. a third party beneficiary) will have no right under the Ordinance to enforce any of its terms. 合約 ( 第三者權利 ) 條例 本港之合約 ( 第三者權利 ) 條例不適用於您的保單 除本公司及保單持有人外, 如非為保單合約一方 ( 例如第三者受益人 ), 將無權在該條例下執行保單合約之任何條款 Page 2 of 2

81 1 (PMH061AC1501)

82 2

83 1 產品介紹 智非凡 II 的主要銷售刊物包括本產品介紹及投資選擇刊物 本產品介紹與智非凡 II 其他銷售文件資料同時發出, 並應一併細閱 銷售文件包括 : a) 本產品介紹 ; b) 產品資料概要 ; 及 c) 投資選擇刊物 ( 當中載列智非凡 II 內現時提供之投資選擇系列 ) 有關本產品介紹所用詞彙的定義, 請參閱 詞彙表 部份

84 2

85 把握智非凡 II 保單 為您提供的非凡優勢和特色 3 您的智非凡 II 保單智非凡 II 集壽險和投資於一身, 可以為您同時看顧保險和理財的需要, 請繼續閱讀下文就智非凡 II 產品提供更詳盡的介紹 智非凡 II 是一項與投資有關的定期保費人壽保險計劃, 按照 保險公司條例 中附表一第二部之定義, 屬於 類別 C 相連長期業務 性質, 並由富衛人壽保險 ( 百慕達 ) 有限公司 ( 下稱 富衛 本公司 我們 或 我們的 ) 所提供, 富衛乃一家根據 保險公司條例 在香港獲授權的保險公司 閣下之投資因此需承受富衛之信貸風險

86 4

87 5 目錄 智非凡 II 如何運作?...6 我有哪些獎賞?...10 我的人壽保險覆蓋範圍是什麼?...24 如何管理我的投資選擇?...26 如何獲取我的保單價值?...28 收費總覽...32 一般資料...36 詞彙表...42 附錄 I...44 附錄 II...48

88 6 智非凡 II 如何運作?

89 智非凡 II 是一份定期保費投資壽險保單 您可按個人需要選擇 或 25 年的供款年期, 定期支付保費 您亦可選擇美元或港幣作為保單貨幣 於保單 生效日一經選定上述供款年期及保單貨幣選擇, 其後便不能更改 成功申購智非凡 II 保單後, 閣下將會獲發一份保單 本產品介紹所指 保單 為智非凡 II 保單 雙戶口結構 5/10/15/20/25 年 年 7 (1) ( 於退保費用年期內扣除 (5/10/12 年 ) 以供款年期而定 ) 及保險費用 (1) 行使供款假期 部分提款或調低定期保費, 將會導致享有的供款獎賞有所調整 ( 有關供款獎賞調整詳情, 請參閱 供款獎賞 部分 ) 附註 : 獎賞只會在保單仍生效時才會作出支付 有關獎賞的詳情, 請參閱 我有哪些獎賞? 部分 一旦退保, 最初供款戶口可能扣除退保費用 有關費用及收費詳情, 請參閱 收費總覽 部分 智非凡 II 擁有雙戶口結構 ( 最初供款戶口和累積供款戶口 ), 以記錄供款年期內所有已繳付的保費 如上圖所示, 於最初供款期內所繳付的定期保費存入最初供款戶口, 而於最初供款期後繳付的定期保費則存入累積供款戶口 智非凡 II 允許閣下隨時投入額外保費, 有關保費將於扣除額外保費費用後存入累積供款戶口 您的保費將按您所指定投資選擇, 以名義單位分配至您的保單的最初供款戶口及 / 或累積供款戶口內 有關投資選擇的詳情, 請參閱投資選擇刊物

90 8 最初供款期 最初供款期將根據您所選擇的保單供款年期而定, 介乎 18 至 36 個月 供款年期 5 年 10 年 15 年 20 及 25 年 最初供款期 18 個月 24 個月 30 個月 36 個月 在最初供款期內, 若定期保費於供款到期日後的 30 日寬限期內仍未繳付, 您的保單將會隨即被終止 您將獲退還已扣除退保費用後的退保淨值 ( 如 有 ) 有關退保費用的詳情, 請參閱 收費總覽 部分 定期保費 只須低至每月 125 美元 /1,000 港元的定期保費, 可選擇每月 每半年或每年的形式繳付, 即可啟動智非凡 II 投資壽險保單 額外保費 隨著時間過去, 基於市場的環境轉變, 您可能希望加大您的保單 為提供是項靈活彈性, 被保人及保單持有人 75 歲或以前, 智非凡 II 讓您隨時繳付額外保費, 至於每次的最低額外保費為 1,500 美元 /12,000 港元 每筆額外保費付款均須繳付額外保費費用 扣除額外保費費用後, 將悉數按照您所指定投資選擇的比例, 以名義單位分配至您的累積供款戶口內 有關額外保費費用的詳情, 請參閱 收費總覽 部分 保費調整 您的財務狀況可能不時轉變 有見及此, 智非凡 II 讓您調整定期保費, 惟須符合下列所示的定期保費要求 請注意, 增加定期保費至高於保單生效日所訂立之原有定期保費是不允許的 保費模式月供半年供年供 最低定期保費 125 美元 /1,000 港元 750 美元 /6,000 港元 1,500 美元 /12,000 港元 定期保費將悉數按照您最新指定投資選擇的比例, 以名義單位分配至您的保單內

91 調低定期保費 您可於最初供款期後申請調低定期保費, 惟須符合於 定期保費 部分表列之 最低定期保費 要求 現行每年最低定期保費為 1,500 美元 / 12,000 港元 於調低定期保費後, 您可將定期保費回調至最初供款金額, 惟定期保費回調的申請須經本公司批核 您若調低定期保費, 或會導致保單總戶口價值及供款獎賞蒙受重大損失 詳情請參閱 我有哪些獎賞? 部分 此外, 若相關基金的表現欠佳, 可能引致您的保單總戶口價值進一步虧損, 而所有收費仍將繼續被扣除 供款假期 您可於最初供款期結束後, 行使供款假期以暫停繳付定期保費 惟於供款假期期間, 本公司將繼續從您的保單中扣除所有相關費用及收費和附約保費 ( 如有 ) 若累積供款戶口內之戶口價值不足以支付所有費用及收費及附約保費 ( 如有 ), 您必須於收到本公司通知時恢復供款 否則, 您的保單將於累積供款戶口內之戶口價值為零時被視為退保 若閣下行使供款假期持續達三年, 本公司可行使其將您的保單視作退保保單的權利 保單退保時, 您將獲退還已扣除任何未清繳費用及收費後 ( 保括退保費用 ) 的戶口價值 有關費用及收費的詳情, 請參閱 收費總覽 部分 智非凡 II 專為長線持有而設 您若行使供款假期, 或會導致保單總戶口價值及供款獎賞蒙受重大損失 詳情請參閱 我有哪些獎賞? 部分 此外, 若相關基金的表現欠佳, 可能引致您的保單總戶口價值進一步虧損, 而所有收費仍將繼續被扣除 請注意 : 定期保費及額外保費的相關最高投資額將受核保要求所限 本公司保留權利, 藉事先給予不少於一個月的書面通知或符合相關監管規定的較短通知期, 更改最低定期保費和額外保費金額的要求 本公司自閣下收取的保費於扣除適用費用及收費後, 將按照您所指定投資選擇投資於相關基金, 以便本公司進行資產負債管理 詳情請參閱 收費總覽 及 如何管理我的投資選擇? 部分 就保單已支付的保費將會成為及一直屬於本公司的資產 閣下並非直接投資於相關基金, 就該等資產沒有任何權益或擁有權 如欲追討賠償, 閣下只可直接向本公司追索 9

92 10 我有哪些獎賞?

93 您是否期望從壽險保單內尋求一些額外的獎賞? 智非凡 II 為您提供三重獨 特獎賞, 助您提升戶口價值並有助達成您的儲蓄目標 智非凡 II 特設三重獨特獎賞, 務求讓您在投資旅程的各個階段獲享以下的 額外獎賞 : - 即時獎賞 ; - 供款獎賞 ; 及 - 長期獎賞 獎賞將按照分配獎賞時您最新指定投資選擇, 以額外名義單位分配至您的 最初供款戶口內 11 即時獎賞 保單一經生效, 您便可立刻獲得即時獎賞 即時獎賞於保單生效日一次性支付予閣下 另外, 如果您憂慮市況波動, 亦可選擇於首個保單年度內分十二期每月等額收取即時獎賞 首筆分期獎賞將於保單生效日支付予閣下, 餘下分期獎賞將於首個保單年度內於每個週月日支付 收取即時獎賞的模式一經確定, 其後便不能更改

94 即時獎賞百分比如下 : 每年定期保費總額 ( 美元 ) 每年定期保費總額 ( 港幣 ) 供款年期 5 年 10 年 15 年 20 年 25 年 * 即時獎賞百分比 3,000 至 < 6,000 24,000 至 < 48, % 2.35% 2.00% 1.80% 1.80% 6,000 至 < 9,000 48,000 至 < 72, % 2.80% 2.40% 2.20% 2.20% 9,000 至 < 15,000 72,000 至 < 120, % 3.25% 2.80% 2.60% 2.60% 15,000 至 < 18, ,000 至 < 144, % 3.70% 3.20% 3.00% 3.00% 12 18,000 至 < 24, ,000 至 < 192, % 4.15% 3.60% 3.40% 3.40% 24,000 至 < 36, ,000 至 < 288, % 4.60% 4.00% 3.80% 3.80% 36, , % 5.50% 4.80% 4.40% 4.40% * 即時獎賞百分比按每年定期保費的百分比列示, 並不代表您的投資選擇之投資回報或表現 即時獎賞 = 即時獎賞百分比 供款年期 每年定期保費 即時獎賞百分比根據每年定期保費 供款年期及於分派獎賞當時的即時獎賞百分比而釐定 您所享有的即時獎賞, 將按照分派獎賞當時您最新指定投資選擇, 以額外名義單位分配至保單的最初供款戶口內 詳情請參閱下列說明例子 1

95 說明例子 1 即時獎賞 Peter 喜歡投資相連計劃 ( 此乃長綫投資暨保險產品 ) 的概念 他成功申購智非凡 II 投資壽險保單, 選擇供款年期為 25 年並以港幣為保單貨幣 自 2015 年 2 月 1 日起每月繳付定期保費為 10,000 港元 於 2015 年 2 月 1 日起繳付的每年定期保費 = 10,000 港元 x 12 = 120,000 港元根據供款年期為 25 年及每年定期保費 120,000 港元, 即時獎賞百分比為 3.00% 13 因此, 於 2015 年 2 月 1 日的即時獎賞 = 即時獎賞百分比 x 供款年期 x 每年定期保費 = 3.00% x 25 x (10,000 港元 x 12) = 90,000 港元 另外,Peter 可選擇分 12 期的每月等額收取即時獎賞 即於首個保單年度內每月收取 90,000 港元 /12 = 7,500 港元 於 2015 年 2 月 1 日 Peter 選擇一次性收取即時獎賞 ( 亦即 90,000 港元 ) 即時獎賞將按照於分派獎賞當時 Peter 最新指定的投資選擇, 以額外名義單位分配至保單的最初供款戶口內 上述例子屬假設並只作舉例說明之用 即時獎賞須繳付最初供款戶口的定期費用及收費 詳情請參閱 收費總覽 部分 若您於冷靜期內取消保單, 您可取回已付保費, 但若您的投資選擇價值有所下跌, 則可取回的金額會較已付保費為少 您亦不會享有任何即時獎賞

96 供款獎賞 為感謝您定期支付保費, 在保單生效期間, 將於保單生效日後至供款年期完結前每五年向您派發供款獎賞 供款獎賞將按過去 60 個月內累積供款戶口平均每月戶口價值的相關百分比乘以供款獎賞調整因數計算 供款獎賞將按照於分派獎賞當時您最新指定投資選擇, 以額外名義單位分配至您的最初供款戶口內 供款獎賞將於每第五個保單年度後 30 日內派發 供款獎賞須繳付最初供款戶口的定期費用及收費 詳情請參閱 收費總覽 部分 供款獎賞 = 供款獎賞百分比 (%) x 過去 60 個月內累積供款戶口內之總每月戶口價值 x 供款獎賞調整因數 60 釐定供款獎賞時, 若閣下曾行使供款假期 部分提款或調低定期保費, 您的供款獎賞將按以下的供款獎賞調整因數而下調 14 供款獎賞百分比將按您的供款年期及由保單生效日起已生效的年期而釐定 供款獎賞百分比如下 : 供款獎賞調整因數 保單年度完結時 供款年期 5 年 10 年 15 年 20 年 25 年 5 6% 10 不適用 6% 15 不適用不適用 9% 20 不適用 9% = ( 已付定期保費總額 - 部份提款金額 ) 保單生效日時的每年定期保費 保單生效以來的保單年期 附註 : 若您從保單部分提款的總額等於或超過已付定期保費總額, 則您的供款獎賞調整因數將會下調為零, 以致供款獎賞亦下調至零 下述例子屬假設並只作舉例說明之用, 並不代表實際或預期回報 25 不適用 9%

97 說明例子 2 供款獎賞 ( 並無調整 ) 承接說明例子 1 所述 Peter 的案例, 1. Peter 擁有供款年期為 25 年並以港幣為保單貨幣的保單 2. 保單於 2015 年 2 月 1 日發出, 每月繳付定期保費為 10,000 港元 3. 假設所有保費已悉數繳付, 且並無作出部分提款 4. 於 2015 年 2 月 1 日之後,Peter 並無調減保費 5. 保單的即時獎賞已於保單生效日一次性支付 於 2025 年 2 月 1 日,Peter 將可享有供款獎賞, 金額將按過去 60 個月內累積供款戶口平均每月戶口價值及相關供款獎賞百分比釐定 : 15 保單月份開始日 保單年期 定期保費 ( 港幣 ) 於保單月結日的累積供款戶口價值 來自定期保費 ( 港幣 ) , , , , , , , , , , , ,709 第 6 個 , , , , , , , , , , , ,774

98 16 保單月份開始日 保單年期 定期保費 ( 港幣 ) 於保單月結日的累積供款戶口價值 來自定期保費 ( 港幣 ) 10, , , , , , , , , , , ,284 第 7 個 , , , , , , , , , , , , , , , , , , , , , , , ,660 第 8 個 , , , , , , , , , , , ,532

99 保單月份開始日 保單年期 定期保費 ( 港幣 ) 於保單月結日的累積供款戶口價值 來自定期保費 ( 港幣 ) 10, , , , , , , , , , , ,859 第 9 個 , , , , , , , , , , , , , , , , , , , , , , , ,901 第 10 個 , , , , , , , , , , , , 總額 (2020 年 2 月 1 日至 2025 年 1 月 31 日 ): 33,711,876 港元

100 根據供款年期為 25 年及保單處於第十個保單年度完結時, 保單於 2025 年 2 月 1 日的供款獎賞百分比為 6% 由於所有定期供款已悉數繳付, 且並無作出部分提款, 故供款獎賞並沒有作調整 因此供款獎賞調整因數是 1 18 於 2025 年 2 月 1 日的供款獎賞 = 供款獎供款獎賞百分比 x 過去 60 個月內累積供款戶口內之總每月戶口價值戶口內之總每月戶口價值 x 供款獎賞調整因數 60 x 供款獎賞調整因數 = 6% x (33,711,876 港元 60) x 1 = 33,712 港元 因此,Peter 於 2025 年 2 月 1 日享有的供款獎賞為 33,712 港元 供款獎賞將按照於分派獎賞當時 Peter 最新指定的投資選擇, 以額外名義單位分配至保單的最初供款戶口內

101 說明例子 3 按調整後之供款獎賞承接說明例子 1, 1. Peter 擁有一份供款年期為 25 年並以港幣為保單貨幣的保單 2. 保單於 2015 年 2 月 1 日發出, 每月繳付定期保費為 10,000 港元 3. 假設 Peter a) 於 2020 年 6 月 1 日及 2022 年 4 月 1 日行使供款假期 ( 即沒有繳付定期保費 ), 共兩個月 b) 由 2023 年 2 月 1 日起, 將定期保費調低至每月 8,000 港元 c) 於 2025 年 1 月 1 日, 從保單部分提款 20,000 港元基於以上情況, 供款獎賞將會採用供款獎賞調整因數計算 保單的即時獎賞已於保單生效日一次性支付 於 2025 年 2 月 1 日,Peter 可享有供款獎賞金額將按過去 60 個月內累積供款戶口平均每月戶口價值釐定 : 保單月份開始日 保單年期 定期保費 ( 港幣 ) 部分提款 ( 港幣 ) 於保單月結日的累積供款戶口價值 來自定期保費 ( 港幣 ) , , , , , , , , , , ,685 第 6 個 , , , , , , , , , , , ,678

102 20 保單月份開始日 保單年期 定期保費 ( 港幣 ) 部分提款 ( 港幣 ) 於保單月結日的累積供款戶口價值 來自定期保費 ( 港幣 ) 10, , , , , , , , , , , ,115 第 7 個 , , , , , , , , , , , , , , , , , , , , , , ,295 第 8 個 , , , , , , , , , , , , , , , , , , , , , , , ,148 第 9 個 , , , , , , , , , , , ,653

103 保單月份開始日 保單年期 定期保費 ( 港幣 ) 部分提款 ( 港幣 ) 於保單月結日的累積供款戶口價值 來自定期保費 ( 港幣 ) 8, , , , , , , , , , , ,529 第 10 個 , , , , , , , , , , ,000-20, , 總額 (2020 年 2 月 1 日至 2025 年 1 月 31 日 ): 32,158,770 港元

104 根據供款年期為 25 年及保單處於第十個保單年度完結時, 保單於 2025 年 2 月 1 日的供款獎賞百分比為 6% 自保單生效日 2015 年 2 月 1 日至 2023 年 1 月 31 日期內, 截至 2025 年 2 月 1 日止已付每月定期保費 10,000 港元的月數 = 8 x 12 2 = 94 供款獎賞 = 過去 60 個月內累積供款戶口平均每月戶口價值 ( 按定期保費計算 ) 的相關百分比 x 於 2025 年 2 月 1 日的供款獎賞調整因數 = 供款獎賞百分比 x ( 過去 60 個月內累積供款戶口截至各保單月結日戶口價值總和 60) x 92.67% = 6% x (32,158,770 港元 60) x 92.67% = 29,802 港元 22 自 2023 年 2 月 1 日至 2025 年 1 月 31 日期內, 截至 2025 年 2 月 1 日止已付每月定期保費 8,000 港元的月數 = 2 x 12 = 24 由於並無悉數繳付定期保費, 並曾作出部分提款, 因此供款獎賞將按供款獎賞調整因數調整 因此,Peter 於 2025 年 2 月 1 日享有的供款獎賞為 29,802 港元 供款獎賞將按照於分派獎賞當時 Peter 最新指定的投資選擇, 以額外名義單位分配至保單的最初供款戶口內 供款獎賞調整因數 = ( 已付定期保費總額 - 部份提款總額 ) 保單生效日時的每年定期保費 保單生效以來的保單年期 於 2025 年 2 月 1 日的供款獎賞 於 2025 年 2 月 1 日的供款獎賞調整因數 = [10,000 港元 x (94) + 8,000 港元 x (24) 20,000 港元 ] (10,000 港元 x 12 x 10) = 92.67%

105 長期獎賞 若您的保單供款年期為 10 年或以上, 您將可獲得長期獎賞 在保單生效期間, 長期獎賞將按照您於供款期滿當時最新指定投資選擇, 以額外名義單位分配至您的最初供款戶口內 長期獎賞將於供款期滿後 30 日內派發 長期獎賞相當於整個供款年期所扣除的保單費用總額 您所享有的長期獎賞僅一次性支付, 並須繳付最初供款戶口的定期費用及收費 詳情請參閱 收費總覽 部分 23

106 24 我的人壽保險覆蓋範圍是什麼?

107 為您的摯愛提供壽險保障 於保單生效期間, 人壽保障額相等於 (1) 您的保單總戶口價值的 105% 或 (2) 總繳付保費 ( 扣除部份提款 ( 如有 ))( 以較高者為準 ) 有關身故權益的計算方式, 請參閱附錄 I 內的說明例子 6 此外, 在保單的首十個保單週年內, 而保單仍然生效, 如果被保人因意外並於發生意外後 180 天內身故, 額外意外身故權益將發放予受益人 意外身故權益相等於保單由生效日起於第一個保單周年內所繳付的總定期保費或 12,500 美元 /100,000 港元 以較低者為準 ) 有關意外身故權益的所有不保事項, 請參閱保單條款, 有關資料可向本公司免費索取 如被保人在神志正常或精神失常的情況下自殺, 本公司之賠償責任將為下列 (i),(ii) 及 (iii) 之總和, 而其中 : (i) 如, 截至自殺當天, 定期保費及 / 或每筆額外保費 ( 如有 ) 已自保單生效日或相關額外保費存入日起繳付超過 13 個曆月, 於這情況下, 身故權益將會是以下較高者 (a) 已繳定期保費及額外保費之總和, 扣除任何於上述保費之戶口價值內作部分提款的款項 ( 如有 ) 或 (b) 上述保費之戶口價值的 105% (ii) 如, 截至自殺當天, 定期保費自保單生效日起繳付少於 13 個曆月, 身故權益將會是定期保費之戶口價值的 100%, 扣除即時獎賞分派時的原本金額 (iii) 如, 截至自殺當天, 任何額外保費自額外保費存入日起繳付少於 13 個曆月, 身故權益將會是該額外保費之戶口價值的 100% 於保單復效後 ( 如適用 ), 以上 (i),(ii) 及 (iii) 所提及的保單生效日及額外保費存入日 ( 於復效前存入 ) 將被取代為保單復效日 身故權益將於扣除任何未清繳保費 費用及收費後予以支付 詳情請參閱保單條款, 有關資料可向本公司免費索取 有關索償的詳情, 請參閱 一般資料 部分 由於身故權益與您所選相關基金不時的表現掛鈎, 因此身故權益會受到投資風險及市場波動所影響 說明例子 4 自殺身故的人壽保障 John 於 2015 年成功申購智非凡 II 投資壽險保單 1. 於 2015 年 2 月 1 日,J o h n 獲發出一份智非凡 II 投資壽險保單, 每年定期保費為 100,000 港元 2. 於 2016 年 2 月 1 日,John 繳付了額外投資保費 50,000 港元 3. 不幸地,John 自殺身亡, 賠償於 2016 年 8 月 1 日獲得批准 富衛的賠償責任為 267,400 港元, 詳情如下 : 截至 2016 年 8 月 1 日期供款類別供款金額 ( 港幣 ) 日的相關供款戶口價值 ( 港幣 ) 2015 年 2 月 1 日定期保費每年 100,000 港元 208,000 港元保單生效日 2016 年 2 月 1 日額外保費 50,000 港元 49,000 港元保費存入日就該筆定期保費而言, 保費存入日 (2015 年 2 月 1 日 ) 距賠償批准日 2016 年 8 月 1 日已有 18 個月 就該筆額外保費而言, 保費存入日 (2016 年 2 月 1 日 ) 距自殺日及賠償批准日 2016 年 8 月 1 日只有 6 個月 由保單生效日 2015 年 2 月 1 日至 2016 年 8 月 1 日的總繳付定期保費 = 100,000 港元 x 2 = 200,000 港元就該筆定期保費的身故權益 = 以下較高者 (a) 戶口價值的 105% 或 (b) 已繳總保費 ( 扣除所有已繳額外保費及任何部分提款的款項 ( 如有 )) = 以下較高者 (a)105% x 208,000 港元或 (b)(200,000 港元 + 50,000 港元 50,000 港元 0 港元 ) = 218,400 港元富衛就該筆額外保費的賠償責任為 = 該筆額外保費戶口價值的 100% = 100% x 49,000 港元 = 49,000 港元因此, 富衛就此保單的總賠償責任為 218,400 港元 + 49,000 港元 = 267,400 港元上述例子屬假設並只作舉例說明之用, 並不代表實際或預期回報 自選附約保障 為配合您的不同需要, 智非凡 II 設有廣泛系列的自選附約保障可供選擇, 讓您加強保障權益 自選附約保障須繳付額外附約保費, 同時遵守其他條款及細則 有關自選附約保障的申請, 可能需要經過額外批核 如欲進一步了解有關自選附約保障的詳情, 請聯絡您的理財顧問 25

108 26 如何管理我的投資選擇?

109 智非凡 II 讓您全面掌握您的投資決策 我們特設的投資選擇平台, 為您提供與投資於不同行業 地域和資產類別的相關基金相連的超過一百多項投資基金供您選擇 我們致力為您提供多元的投資選擇, 全數經由我們合資格的投資專才精心挑選 27 投資選擇 智非凡 II 讓您選擇透過不同行業 地域及資產類別, 以及不同的投資經理進行分散投資 您可將保費分配至不同的投資選擇, 以建構個人的投資組合, 惟每項投資選擇必須至少達扣除保費費用 ( 如有 ) 後的已付保費的 10% 本公司保留權利, 藉事先給予不少於一個月的書面通知或符合相關監管規定的較短通知期, 更改最低分配比例規定 智非凡 II 提供各項投資選擇的特點及風險狀況可能差異很大, 部分選擇可能涉及高風險 有關投資選擇的詳情, 請參閱投資選擇刊物 無限轉換 / 重新調配投資選擇 智非凡 II 讓您透過轉換保單同一戶口內的投資選擇 ( 即您不可將單位從最初供款戶口轉換至累積供款戶口, 反之亦然 ), 隨時調整您的投資組合 轉換投資選擇, 助您有效管理財富之餘, 亦可因應您的需要或市場轉變, 靈活調整您的投資策略 目前, 最低轉換金額為 125 美元 /1,000 港元 我們明白因應市場的轉變, 迅速作出回應的重要性 透過我們的網上客戶服務或直接聯絡我們, 要求轉換 / 重新調配投資選擇, 您可隨時隨地調整您的投資策略 您的保單單位分配屬於名義性質, 純粹用作釐定您的保單總戶口價值 對於相關基金的資產, 您沒有任何權益或擁有權 現時, 轉換或重新調配投資選擇的次數不限, 而且毋須支付任何轉換 / 重新調配費用 然而, 本公司保留權利, 藉事先給予不少於一個月的書面通知或符合相關監管規定的較短通知期, 收取相關費用

110 28 如何獲取我的保單價值?

111 我們明白人生變幻莫測, 您的未來經濟狀況可能出現變化 有見及此, 一旦 出現緊急情況, 您可以在保單生效期間作部分提款或完全退保, 以應付您的 財務所需 29 部分提款 您可以從您保單內的最初供款戶口及 / 或累積供款戶口贖回名義單位作部分提款, 詳請請參閱以下部分 而現行每份保單的最低提款金額為 250 美元 /2,000 港元 現時, 部分提款並不收取任何費用, 惟每份保單均須符合相關最低剩餘戶口價值要求 若您從最初供款戶口及 / 或累積供款戶口作部份提款後, 即時戶口價值低於相關最低剩餘戶口價值, 您的保單隨即終止並將被扣除有關退保費用 退保 有必要時, 您可選擇將您的保單退保, 以及悉數從保單提取總戶口價值 若保單連續三年均處於供款假期, 本公司可行使其將您的保單視作退保保單的權利 退保時, 您戶口內的所有名義單位將會隨您的保單退保而被贖回 您將獲退還扣除任何未清繳之費用及收費 ( 包括退保費用 ) 後的淨值 有關費用及收費的詳情, 請參閱 收費總覽 部分 自保單作出任何部分提款, 會導致供款獎賞下調 詳情請參閱 我有哪些獎賞? 部分 從最初供款戶口提款只要最初供款戶口的戶口價值於部分提款後即時價值大過或等於最低剩餘戶口價值 (0 美元 / 港元 ), 您便可於退保費用年期結束後從最初供款戶口作部分提款 然而, 在退保費用年期內, 您只可從累積供款戶口作部分提款 從累積供款戶口提款 您亦可以隨時從累積供款戶口作部分提款, 惟作部分提款後, 累積供款戶口的戶口價值於部分提款後即時價值大過或等於最低剩餘戶口價值 (2,500 美元 /20,000 港元 )

112 說明例子 5 退保 Mary 於 2015 年獲批一份智非凡 II 保單 1. Mary 於 2015 年 3 月 1 日獲批一份智非凡 II 保單 保單的供款年期為 10 年, 最初供款期為 24 個月, 以美元為保單貨幣, 須繳付定期保費為每年 25,000 美元 2. Mary 決定於 2018 年 6 月 1 日 ( 即自保單生效日起計的 3 年 3 個月後 ) 退保 經扣除退保費用後的退保淨值將支付予 Mary Mary 所得付款為 103,220 美元, 計算說明如下 三年三個月 個月 30 53% 51% 33% 32% 31% 30% 29% 28% 27% 26% 0% 2015 年 3 月 1 日 ( 保單生效日 ) 2018 年 3 月 1 日 ( 退保日 ) 2025 年 3 月 1 日 ( 供款年期完結 ) 請參閱附錄 II - 退保費用表, 退保費用百分比 ( 於第四個保單年度開始時 )= 32% 退保費用百分比 ( 於第五個保單年度開始時 )= 31% 根據期內介乎 31% 至 32% 的退保費用百分比按比例計算, 於 2018 年 6 月 1 日的退保費用百分比 32 % x 下一保單年度開始前尚餘月數 + 31 % x 上一保單年度開始後已過去月數 = 12 (32% x % X 3) = 12 = 31.75%

113 31 於 2018 年 6 月 1 日的退保淨值 : 2018 年 6 月 1 日的假定戶口價值退保費用百分比退保淨值 最初供款戶口 56,000 美元 31.75% 56,000 美元 56,000 美元 x 31.75% = 38,220 美元 累積供款戶口 65,000 美元 不適用 65,000 美元 總計 : 103,220 美元 上述例子屬假設並只作舉例說明之用, 並不代表實際或預期回報 請注意 : 智非凡 II 專為長期持有而設 您若提早退保或作部分提款, 或會導致保單總戶口價值及供款獎賞蒙受重大損失 詳情請參閱 我有哪些獎賞? 部分 此外, 若相關基金的表現欠佳, 可能引致您的保單總戶口價值進一步虧損, 至於所有收費仍將繼續被扣除

114 32 收費總覽

115 本公司保留權利, 藉事先給予不少於一個月的書面通知或符合相關監管規定的較短通知期, 更改保單收費或施加新收費 保險計劃方面 費用及收費收費率收取次數及從以下金額扣減 行政費用 每月最初供款戶口之戶口價值的 5.8% 除以 12( 亦即每年 5.8%) 扣除自 : 最初供款戶口 次數 : 於保單生效日後的首個保單收費到期日, 以及其後直至退保費用年期完結前的每個週月日 33 額外保費費用 ( 僅適用於已支付額外保費 ) 保險費用 收費根據下列額外保費金額而定 : 額外保費金額 ( 美元 ) 額外保費金額 ( 港幣 ) 每次額外保費 * 供款的費用 <12,500 <100,000 5% >12,500 及 >100,000 及 <62,500 <500,000 4% >62,500 >500,000 3% * 費用以每次額外保費的百分比來表示 每月保險費用 = 該年度的保險費用率 / 12 x 於費用扣除日的淨風險額 保險費用是按淨風險額 ( 即於身故權益扣除 100% 的戶口價值 ) 計算 的 如淨風險額等於或低於零, 保險費用將不會收取 該年度的保險費用率將根據在保單年度開始時, 被保人於下次生日之 已屆年齡及受保的性別而定 詳情請參閱說明例子 6 及附錄 I 保險費 用表 如何扣除 : 按照閣下保單就有關戶口最新指定投資選擇贖回名義單位 扣除自 : 額外保費 次數 : 先從每次額外供款中扣除 如何扣除 : 先從每次額外供款中扣除, 餘額將會按照閣下保單最新指定投資選擇, 分配名義單位至累積供款戶口內 扣除自 : 於最初供款期內, 費用將從最初供款戶口中扣除, 隨後則從累積供款戶口中扣除 次數 : 於保單生效日後的首個保單收費到期日, 以及保單生效期間的每個週月日 如何扣除 : 按照閣下保單就相關戶口最新指定的投資選擇贖回名義單位

116 費用及收費收費率收取次數及從以下金額扣減 投資組合管理費用 於相關供款年期完結前, 每月戶口價值的 0.125%( 亦即每年 1.50%) 於相關供款年期完結後, 每月戶口價值的 0.08%( 亦即每年 0.96%) 扣除自 : 每個最初供款戶口及累積供款戶口 次數 : 於保單生效日後的首個保單收費到期日, 以及保單生效期間的每個週月日 34 如何扣除 : 按照閣下保單就相關戶口最新指定的投資選擇贖回名義單位 部份提款費用 沒有 不適用 保單費用 每月 7.5 美元 /60 港元 ( 亦即每年 90 美元 /720 港元 ) 扣除自 : 在最初供款期內, 費用將從最初供款戶口中扣除, 隨後則從累積供款戶口中扣除 次數 : 於保單生效日後的首個保單收費到期日, 以及保單生效期間的每個週月日 如何扣除 : 按照閣下保單就相關戶口最新指定投資選擇贖回名義單 位

117 費用及收費收費率收取次數及從以下金額扣減 退保費用 退保費用將按供款年期及自保單生效日起計的保單年數根據 (i) 退保時最初供款戶口之退保金額或 (ii) 保單終止時 ( 被保人身故除外 ) 最初供款戶口之贖回金額的某個百分比計算 詳情請參閱附錄 I I 退保費用表 扣除自 : 最初供款戶口的退保金額 / 贖回金額 次數 : 保單退保或保單終止日 ( 被保人身故除外 ) 退保費用將適用於最初供款戶口的戶口價值 若閣下之保單於一個保單年度完結前終止, 退保費用將根據該保單年度開始及完結時之間的退保費用百分比按比例計算 ( 請參閱說明例子 5) 如何扣除 : 按照閣下就最初供款戶口最新指定投資選擇贖回名義單位 35 轉換 / 重新調配投資選擇費用 沒有 不適用 相關基金方面 請注意 : 提供投資選擇的不同基金就收取管理費 業績表現費 買賣差價及 / 或轉換費用可能不同 閣下毋須直接繳付該等費用, 由於 (1) 相關基金的收費會自動扣減, 並於基金單位價格作出反映, 或 (2) 自您的投資選擇贖回名義單位, 以繳付該等費用 詳情請參閱相關基金的銷售文件及 / 或智非凡 II 的主要銷售刊物 本公司會應要求提供上述文件及刊物

118 36 一般資料

119 查閱戶口價值 只需登入本公司網頁 的客戶網上服務戶口, 便可隨時查閱您的戶口價值 您亦可瀏覽本公司網址, 查詢投資選擇的最新單位價格 當然, 您亦可隨時直接聯絡我們, 查詢您的戶口價值 本公司每年會向您提供保單總戶口價值結單 您的戶口價值根據您的保單戶口投資選擇名義單位數目, 乘以最新單位價格計算 投資選擇的單位價格, 與相關基金的單位價格絕對相同 投資回報的計算, 根據相關基金的走勢而定 請注意 : 保單的投資回報須繳付保單費用, 因此投資回報可能低於相關投資的回報 各項基金的投資目標及相連風險均不同 詳情請參閱各項相關基金的銷售文件, 有關資料可於本公司網頁 下載或向本公司索取 請注意 : 您的保單總戶口價值可能因投資失利而蒙受損失 投保申請手續 申請智非凡 II 手續簡易, 只須填妥及交回投保申請書及簽署保單利益說明, 連同有關款項交回本公司即可 本公司保留因為建議被保人於申請時提交的資料不足或不符合要求, 否決任何智非凡 II 投保申請的權利 借貸權力 智非凡 II 並無借貸權力 有關借貸權力及相關基金投資限制的詳情, 請參閱各相關基金的銷售文件, 有關文件可於本公司網頁 下載或向本公司索取 37 供款分配 每項投資選擇必須至少達扣除保費費用 ( 如有 ) 後的已付保費的 10% 除相關基金暫停交易或超出本公司控制範圍的情況外, 您的投資選擇名義單位分配, 將在本公司於任何工作日下午四時 ( 香港時間 ) 前收到 1) 已清算之資金及 2) 已填妥的申請表後的下一個交易日進行 本公司保留因為資料不足或不符合要求而延遲單位分配日期的權利 索償 如欲提出索償, 請填妥及簽署指定表格並儘快交回本公司 您可向您的顧問或本公司索取指定表格 只要保單依然生效且索償申請已獲批准, 本公司將於接獲合乎要求的索償申請後下一個交易日起計 30 個工作日內以保單貨幣支付身故權益之款項

120 38 冷靜期 在冷靜期內, 保單持有人可以取消已購買保單, 取回已付保費 ( 須按市值調整, 不計息 ); 冷靜期為保單發出後 21 日內, 或向閣下或閣下的代表發出通知書後的 21 日內 通知書應說明保單已備妥, 並列明相關冷靜期的屆滿日期 請參閱香港保險業聯會就冷靜期權益發出的最新指引 閣下須以書面知會本公司有關取消保單的決定 該通知必須由閣下簽署及直接送達本公司的客戶服務部, 地址為香港中環德輔道中 308 號富衛金融中心 1 樓 閣下可取回已付保費, 但若閣下的投資選擇價值有所下跌, 可取回的金額將會減少 如已獲支付索償款項, 則保費不予退還 投保申請年齡 智非凡 II 可供於投保時下次生日年齡於下述範圍內之人士投保 : 供款年期 被保人下次生日年齡 保單持有人 下次生日年齡 5 年 1 至 60 歲 19 至 60 歲 10 / 15 / 20 年 1 至 55 歲 19 至 55 歲 25 年 1 至 50 歲 19 至 50 歲 於下次生日年齡為 1 歲的被保人, 於投保時必須已出生 15 天或以上 管制法例 本保單及其詮釋以香港特別行政區之法律為管制法例 寬限期 本公司就每次繳付定期保費的到期日提供 30 日寬限期 於最初供款期內, 若定期保費於寬限期滿仍未繳付, 本公司保留終止保單的權利及於終止保單日起計的 60 日內之任何交易日贖回保單戶口內所有單位 投資選擇變動 投資選擇可與其他投資選擇合併或終止 在此情況下, 本公司將藉事先給予不少於一個月的書面通知或符合相關監管規定的較短通知期, 將您於受影響之投資選擇的名義單位轉換至及 / 或將新繳保費分配至智非凡 II 所提供的其他投資選擇 如本公司於書面通知所載截止期限前未接獲您關於轉換及 / 或更改分配指示, 本公司會將相關投資選擇轉換至及 / 或將你的新繳保費分配至書面通知所載的指定投資選擇 轉換 / 重新調配投資選擇 為迎合您的財務目標, 保單讓您不限次數的靈活轉換投資選擇, 惟每次最低轉換金額為 125 美元 /1,000 港元 現時, 投資選擇轉換 / 重新調配均不收取任何收費 只需填寫並簽署指定表格, 便可提出投資選擇轉換 / 重新調配申請, 有關表格可向您的理財顧問或本公司索取 另外, 您亦可隨時以本公司指定的電子表格提交有關申請 現時, 您可透過本公司網頁 的客戶網上服務平台, 申請投資選擇轉換 / 重新調配 於每一個工作日下午四時 ( 香港時間 ) 前收妥的投資選擇轉換申請, 轉出指示一般會在下一個交易日執行 除相關基金交易暫停或超出本公司控制範圍的情況外, 轉入指示一般會在轉出指示完成後不多於四個交易日內執行 本公司保留權利, 藉事先給予不少於一個月的書面通知或符合相關監管規定的較短通知期, 更改上述規定及 / 或相關程序 期滿權益 於本保單有效期內及被保人在生時, 期滿權益將於終結日支付予保單權益人, 即被保人一百歲生日前之保單週年日 期滿權益為保單總戶口價值扣除所有到期未付之保費 費用及收費

121 其他行政安排 富衛保留權利不時更改定期保費 額外保費 最低剩餘戶口價值 提款金額 每項投資選擇的最低分配百分比或投資選擇的轉換金額之最低要求 每次提升此等最低要求將事先給予不少於一個月的書面通知或符合相關監管規定的較短通知期 部分提款程序 您只需填寫並簽署指定表格, 即可作出部分提款, 有關表格可向您的理財顧問或本公司索取 除相關基金暫停交易或超出本公司控制範圍的情況外, 於每一個工作日下午四時 ( 香港時間 ) 前收妥的部分提款申請, 會於下一個交易日贖回名義單位 本公司保留權利, 藉事先給予不少於一個月的書面通知或符合相關監管規定的較短通知期, 更改上述規定及 / 或相關程序 詳情請參閱 部分提款 部分 保單貨幣 智非凡 II 保單貨幣可選擇美元或港幣 您可於保單生效日選定繳付保費的保單貨幣 保障權益將以保單貨幣支付 於保單生效日後, 不能更改保單貨幣 以保單貨幣以外的貨幣繳付保費, 將按本公司參考市場匯率不時釐定的匯率兌換, 故兌換貨幣面對外匯風險 每項投資選擇的計值貨幣與保單貨幣或有所不同 詳情請參閱投資選擇刊物 如閣下之投資選擇的計值貨幣與保單貨幣不同, 則分配 轉換或贖回投資選擇將因貨幣兌換而面對外匯風險 終止保單 此保單將在下列其中一個日期終止, 以較前者為準.. 保單的終結日, 即被保人一百歲生日前之保單週年日 ; 依本公司相關規定所認定之退保日 若行使供款假期以致連續三年暫停繳付定期供款, 本公司可行使其將您的保單被視作退保保單的權利 詳情請參閱 供款假期 部分 ; 於最初供款期內未有繳付定期保費 ; 本公司接獲被保人身故的通知之日 ; 於最初供款期後, 當累積供款戶口內之戶口價值於任何一個估值日等於或低於零 ; 於退保費用年期後, 保單之總戶口價值在任何一個估值日等於或低於零 ; 最初供款戶口之戶口價值僅因部分提款而跌至低於最初供款戶口的最低剩餘戶口價值 (0 美元 /0 港元 ); 及 累積供款戶口之戶口價值僅因部分提款而跌至低於累積供款戶口的最低剩餘戶口價值 (2,500 美元 /20,000 港元 ) 如最初供款戶口及累積供款戶口的戶口價值僅因市場波動而跌至低於相關戶口的最低剩餘戶口價值, 保單將不會被終止 惟若保單價值不足已繳付相關費用及收費時, 保單將會被終止 若您的保單終止時, 保單內投資選擇的所有名義單位將會隨著保單終止而被贖回 除因被保人身故外, 若於退保費用年期內終止保單, 本公司將從被贖回金額中扣除退保費用 有關退保費用的詳情, 請參閱 收費總覽 部分 39

122 40 保費調整申請 只需填妥及簽署指定表格及連同所需款項並交回本公司, 即可申請調整定期保費及 / 或額外保費, 有關表格可向您的理財顧問或本公司索取 請注意, 增加定期保費至高於保單生效日所訂立之原有定期保費是不允許的 您亦可隨時於被保人及保單持有人下次生日年齡於 75 歲或之前申請額外保費 一般行政規則適用於任何定期保費的調整及 / 或額外保費 本公司保留因被保人於申請時提交的資料不足或不符合有關規定而拒絕有關申請的權利 退保安排 如欲申請退保, 只須向本公司提交 1) 填妥的指定表格 ( 有關表格可向您的理財顧問或本公司索取 ), 及 2) 您的保單文件 您的保單戶口內投資選擇所有名義單位將會被贖回 於每一個工作日下午四時 ( 香港時間 ) 前收妥的退保申請, 一般會在下一個交易日執行, 而保單亦隨即終止 在一般情況下, 本公司將由接獲您已填妥的退保申請起計 30 日內支付退保淨值 由註銷您的戶口內之名義單位日起至獲發放退保淨值期間, 不會獲發任何利息 保費模式 定期保費可以月供 半年供或年供繳付 您可於供款到期日或之前要求更改保費模式 暫停交易 若在超出本公司控制範圍的情況下, 本公司擁有決定估值日和交易日的日期與次數的絕對酌情權, 我們會本著誠信的原則行事 詳情請參閱保單條款, 有關資料可向本公司索取 單位數目及單位價格之調整 每項投資選擇之贖回及認購的名義單位數目將被調整至最接近的 5 個小數位 單位價格的小數位調整方法, 根據關基金的投資經理而定 詳情請參閱相關基金的銷售文件, 有關文件可於本公司網頁 下載或向本公司索取 稅項 根據現行香港特別行政區稅務條例, 自投資選擇贖回及賣出所獲得之利息 收入及盈利均豁免利得稅 然而, 您應就有關個人稅務情況諮詢專業意見

123 外國帳戶稅務合規法 根據美國外國帳戶稅務合規法 ( FATCA ), 海外金融機構 ( FFI ) 須向美國國家稅務局 ( 國稅局 ) 匯報有關美國境外透過 FFI 持有帳戶的美國人之若干資料, 並須取得他們的同意, 容許 FFI 將該等資料送交國稅局 未就 FATCA 簽署或同意遵守與國稅局之間的協議 ( FFI 協議 )( 或未獲另行豁免 ) 的 FFI( 指 非參與 FFI ), 將就所有源於美國的 可預扣付款 ( 定義見 FATCA)( 初步包括股息 利息及某些衍生工具付款 ), 面臨 30% 的預扣稅 ( F AT C A 預扣稅 ) 美國及香港已達成跨政府協議 ( IGA ), 旨在促使 FFI 在香港遵守 FATCA, 設定框架使香港 FFI 可依賴簡化的盡職審查程序, 以 (i) 識別美國人身份特徵 (ii) 徵求其美國保單持有人同意披露及 (iii) 向國稅局匯報該等保單持有人的相關稅務資料 FATCA 適用於富衛及該保單 富衛為參與 FFI 富衛致力遵守 FATCA 為達此目的, 富衛要求閣下遵守以下義務 ( 資料義務 ) : (i) 向富衛提供若干資料 ( 如適用 ), 包括閣下的美國身份資料 ( 如姓名 地址 美國聯邦納稅人識別編號等 ); 及 (ii) 同意富衛向國稅局匯報本資料及閣下的帳戶資料 ( 如帳戶結餘 利息及股息收入和提款 ) 如閣下未能遵守資料義務 ( 成為 不合規帳戶持有人 ), 富衛須向國稅局匯報未同意遵守規定的美國帳戶的帳戶結餘 付款金額及帳戶號碼的 綜合資訊 此外, 富衛可決定因或擬就 FATCA 及 / 或其他有關報稅及預扣稅的適用法規, 而終止閣下保單, 在此情況下, 富衛將於富衛通知閣下終止的日期, 向閣下退還戶口價值 ( 但保單內任何欠款將於支付予閣下之款項內扣除 ) 如僅按上述目的執行終止, 則退保收費或任何其他形式罰款均不適用 當決定行使此等終止權利時, 富衛將以公平 有誠信及合理的情況下進行 富衛在若干情況下, 可能須就閣下保單所付的款項或自當中產生的款項, 徵取 FATCA 預扣稅 目前, 富衛可能須如此行事的僅有情況是 : (i) 香港稅務局未能根據 IGA( 及香港與美國之間的有關稅務資訊交流協議 ) 與國稅局交流資訊, 在此情況下, 富衛可能須從注入閣下保單的可預扣付款中扣去及預扣 FATCA 預扣稅, 並將之匯至國稅局 ; 及 (ii) 閣下 ( 或任何其他帳戶持有人 ) 是非參與 FFI, 在此情況下, 富衛可能須從注入閣下保單的可預扣付款中扣去及預扣 FATCA 預扣稅, 並將之匯至國稅局 閣下應就 FATCA 可能對閣下或閣下保單構成的影響徵求獨立專業意見 參與機構 保險公司富衛人壽保險 ( 百慕達 ) 有限公司香港中環德輔道中 308 號富衛金融中心 28 樓投資經理投資經理因應不同相關基金而異, 詳細資料請參閱投資選擇刊物 閣下之投資回報, 根據本公司參照相關基金的表現計算或釐定 投資涉及風險 往績不應視作未來業績表現的指標 每項投資選擇均受市場價格波動及蒙受相關風險影響 您所指定的投資選擇名義單位價格或就該等投資選擇獲取的收益均可升可跌 本公司對銷售文件所載資料的準確性承擔所有責任 請注意 : 本公司擁有隨時豁免此產品介紹內的規定及限制的酌情權 本公司經作出一切合理查詢後, 確認就本公司所知及所信, 並無遺漏任何事實致使所載的內容產生誤導 智非凡 II 已獲證券及期貨事務監察委員會 ( 證監會 ) 認可, 惟獲得認可並不意味獲得官方推介或認許, 亦不是對智非凡 II 的商業價值或表現作出保證, 更不代表智非凡 II 適合所有投資者 或認許智非凡 II 適合任何個別投資者或任何類別的投資者 證監會對銷售文件的內容概不負責, 對其準確性或完整性亦不作出任何申述, 並且明確表示, 因銷售文件全部或部份內容而產生或因依賴這些內容而引致的損失, 證監會概不承擔任何法律責任 主要銷售刊物並非保單 有關詳細條款 細則 不保事項和收費, 請參閱保單條款, 有關資料可向本公司免費索取 本產品介紹由富衛人壽保險 ( 百慕達 ) 有限公司刊發 2015 年 1 月 ( 刊發日期 ) 如閣下對本產品及本公司的服務有任何查詢或投訴, 請致電 (852) 傳真至 (852) 或電郵至 cs.hk@fwd.com 與我們聯絡 41

124 42 詞彙表

125 下列詞彙具有以下涵義 : 詞彙 涵義 詞彙 涵義 意外 在保單生效期間所發生非預見及突如其來的一宗或 最低剩餘戶口價值 提取部分款項後, 保單的最初供款戶口和累積供款戶 連串猛烈 外在及可見事故, 且為導致受傷之單一 口必須即時維持之最低金額 因素 保單戶口 一個為保單持有人而設的戶口, 用於保存保單之最初 累積供款戶口 一個為保單持有人而設的戶口, 用於保存就於最初供 供款戶口及累積供款戶口內的投資選擇之名義 款期後支付之所有以定期保費, 及任何額外保費獲分 單位 配至保單的名義單位 供款年期 相等於保單資料頁內列明定期保費須繳付之年數 戶口價值額外保費 戶口價值等同於保單內的投資選擇名義單位數目乘以該投資選擇在有關估值日的單位價格, 並扣除適用之相關基金收費, 以及持續性費用及收費 ( 如有 ) 保單持有人指定存入累積供款戶口用作分配投資選擇之名義單位的整筆自選性供款 定期保費退保費用年期 列明於保單資料頁或其後批註所示的定期繳交保費金額, 並存入保單戶口內用作分配名義單位之用 於退保時應繳付退保費用的年期 各供款年期的相關退保費用年期如下 : 43 交易日本公司或其他指定人員 / 機構代表代保單持有人購入或賣出其有關投資選擇單位的日子 每一項投資選擇只可在該投資選擇的估值日作出交易 交易日的截止時間為下午四時 ( 香港時間 ) 在本公司考慮為本公司控制範圍之外的情況下, 本公司擁有絕對酌情權決定交易日的日期及次數 最初供款戶口一個為保單持有人而設的戶口, 用於保存就於最初供款期內支付之所有以定期保費及獲得的任何獎賞獲所分配至保單的名義單位 最初供款期指保單生效日後的最初期間 最初供款期為 18 至 36 個月不等, 視乎供款年期而定, 期內的定期保費將用作分配名義單位至最初供款戶口 總戶口價值 估值日 供款年期 ( 年 ) 退保費用年期 5 首 5 個保單週年 10 / 15 / 20 首 10 個保單週年 25 首 12 個保單週年最初供款戶口和累積供款戶口的戶口價值總額 投資選擇的估值日指計算該投資選擇的單位價格的日子 根據一般情況下, 每一項投資選擇於每個工作日估值一次 倘某一日並非工作日, 該估值日將順延至下一個工作日 在本公司考慮為本公司控制範圍之外的情況下, 本公司可行使其絕對酌情權, 調整及決定估值日的日期及次數 週月日 每月與保單生效日相同的日子 倘週月日不存在於某一個月份, 該週月日則為該月份的最後一日 若週月日並非工作日, 則順延至下一個工作日

126 44 附錄 I

127 保險費用表 被保人於保單年度開始時已達之下次生日年齡 保險費用率 每美元 1,000 / 港幣 1,000 的淨風險額 男性 女性 被保人於保單年度開始時已達之下次生日年齡 to 男性 女性 45

128 保險費用表 46 被保人於保單年度開始時已達之下次生日年齡 保險費用率 每美元 1,000 / 港幣 1,000 的淨風險額 男性 女性 被保人於保單年度開始時已達之下次生日年齡 男性 女性

129 說明例子 6 身故權益及保險費用 Ann 獲批一份智非凡 II 保單 1. Ann 於 2015 年 2 月 1 日獲批一份智非凡 II 保單 保單的供款年期為 10 年, 最初供款期為 24 個月, 以港幣為保單貨幣, 須繳付定期保費為每年 18,000 港元 2. 假設於 2020 年 2 月 1 日, a) 所有保費已繳付 b) 於 2019 年 1 月 1 日作出部分提款 10,000 港元 c) 總戶口價值為 120,000 港元 2020 年 2 月 1 日,Ann 的下次生日年齡為 30 歲 Ann 是一位女性 於 2020 年 2 月 1 日至 2021 年 1 月 31 日的保單年期間, 保險費用率是每 1,000 港元淨風險額為 0.73 港元 總戶口價值的 105% =105% x 120,000 港元 = 126,000 港元 47 由保單生效日 2015 年 2 月 1 日至 2020 年 2 月 1 日 ( 包括 2020 年 2 月 1 日的定期保費 ) 的總繳付保費 = 18,000 港元 x 6 = 108,000 港元 身故權益 = 以下較高者 (1) 總戶口價值的 105% 或 (2) 總繳付保費 ( 扣除任何部分提款 ( 如有 )) = 以下較高者 (1)126,000 港元或 (2)(108,000 港元 -10,000 港元 ) = 126,000 港元 每月保險費用 = 保險費用率 12 x 淨風險額 = 保險費用率 12 x ( 身故權益 - 總戶口價值的 100%) = 0.73 港元 1,000 港元 12 x (126,000 港元 100% x 120,000 港元 ) = 港元 因此, 於 2020 年 2 月 1 日, 保單的身故權益為 126,000 港元另 港元保險費用將從保單中扣除 上述例子屬假設並只作舉例說明之用

130 48 附錄 II

131 退保費用表 於保單年度開始時 供款年期 ( 年 ) % 53% 64% 75% 85% 2 27% 51% 61% 73% 84% 3 23% 33% 41% 49% 58% 4 22% 32% 38% 39% 46% 5 21% 31% 37% 38% 45% 6 0% 30% 36% 37% 44% 7 0% 29% 35% 36% 43% 8 0% 28% 34% 35% 42% 9 0% 27% 33% 34% 41% 10 0% 26% 32% 33% 40% 11 0% 0% 0% 0% 39% 12 0% 0% 0% 0% 38% 13 或以上 0% 0% 0% 0% 0% 49 附註 : 於保單年度內的相關退保費用將根據該保單年度開始及完結時之間的退保費用百分比按比例計算

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