There are certain milestones that are worth celebrating in life and may come with large expenses, such as marriage, children’s education, and retirement. Life, however, is all about changes especially in this ever-changing world. In order to respond to uncertainties comfortably and prepare for the planned events in different stages of life, you need your savings strategy to be well designed, flexible and comprehensive.
Let’s see how Flexi Power Saver works in different stages of your life.
Significant cash payment plus potential returnsThe graph below is for illustrative purpose only and is based on a premium payment term of 6 years and an accumulation period of 18 years.
- a guaranteed cash payment and a special cash payment at the end of the accumulation period
- a cash value which is payable upon policy surrender or at policy maturity
- a non-guaranteed terminal dividend³ which may be payable on the death of insured, upon policy surrender or at policy maturity after the policy has been in force for 3 years
Highlights of Flexi Account and Growth Account
- Capital protected
- Interest may be offered on the value of this account
- Enhance cash liquidity
- May earn even higher long-term potential return than the Flexi Account
- Growth account lock-in option⁴
Wealth accumulation for next generations
Flexi Power Saver goes the extra mile and gives you extra flexibility to accumulate your wealth across generations.
- The policy will last up to age 138⁵ of the latest insured
- The change of insured of the policy is up to a maximum of 3 times subject to the prevailing administrative rules of the change of insured option⁶
- The change of insured will not affect the values under the policy
Life protection to protect yourself and the loved ones
Should the worst ever happen to the insured, Flexi Power Saver provides death benefit to the designated beneficiary.
To allow greater flexibility, we can pay the death benefit in a lump sum or regular instalments at your own choice. If you choose the payment by instalments option, the death benefit will be paid at such regular intervals over a specified period of time to be agreed by the Company, with interest accrued on the balance of death benefit yet to be paid. The current interest rate is 2% p.a., which is non-guaranteed and may be changed by the Company from time to time at our sole discretion.
For Suicide exclusion, please refer to the Important Information section in the product brochure for Flexi Power Saver.
Note: Please refer to the product brochure for more details of Flexi Power Saver.
Accident Protector First 3 Years Free Supplement
If you successfully apply for Flexi Power Saver, you may have the option to apply for the Accident Protector First 3 Years Free Supplement which provides accident protection up to HKD500,000 with the first three years' premium waived*.
* Only applicable to Flexi Power Saver with premium payment term of 6 years or 12 years and terms and conditions apply
- The policy value is equal to the total surrender value before any deduction of indebtedness and / or outstanding premiums.
- The notional amount is used for the calculation of premium and relevant values under the policy of Flexi Power Saver; it is not equivalent to the death benefit of the insured and is only one of the factors in determining the death benefit payable. Notional amount will be adjusted on the first day of flexi saving period by multiplying the latest notional amount as at the end of the accumulcation period by the percentage of the policy value allocated to the Growth Account on the first day of the flexi saving period. For the avoidance of doubt, notional amount refers to the latest notional amount unless otherwise specified.
- Terminal dividend is not guaranteed and may be changed by AXA from time to time.
- An application for the Growth Account Lock-in Option must satisfy the following conditions: (1) the Lock-in Amount is not less than the minimum amount as may be determined by the Company from time to time; (2) the application for the Lock-in Amount will not result in the notional amount being less than the minimum amount specified by the Company from time to time if such application is approved and implemented; and (3) the application shall be in the form specified by us and in such manner satisfactory to us in accordance with the administrative rules of the Company. The amount you apply to transfer from the Growth Account to the Flexi Account will be used to settle any indebtedness and / or outstanding premiums at the discretion of the Company immediately before the proposed transfer.
- “Age 138” refers to the policy anniversary on or immediately following the latest insured’s 138th birthday, whichever the earlier.
- Written application should be made by you for the change of insured and such request is subject to the Company’s approval, administrative rules, underwriting, and any other requirements of the Company in effect from time to time. Unless otherwise specified, the change of insured will not affect the terms and conditions of Flexi Power Saver. The new insured must be the policy owner himself / herself, his / her spouse or child under age 18, or a juvenile member of a newer generation of the policy owner’s family under age 18 (e.g. grandchild or great-grandchild of the policy owner) subject to the juvenile trust policy arrangement acceptable by the Company. The new insured must be age 60 or below as at the effective date of the change of insured, and the date of birth of the new insured must not be more than 5 years earlier than the date of birth of the initial insured of the policy. Both the existing insured and the new insured must be alive on the effective date of change of insured. The change of insured must be endorsed in writing by the latest insured (i.e. existing insured) and the new insured. The change of insured option can only be exercised up to a maximum of 3 times. After the change of insured, all supplement(s) will be terminated on the effective date of change of insured and no supplement(s) can be attached thereafter. The Company reserves the right to seek satisfactory evidence of insurability from the new insured. Please refer to the policy contract for details.
Information on this webpage is for reference only, and not intended to be a complete description of the applicable terms and conditions. Please refer to the policy contract for detailed terms and conditions. You should not purchase a policy based on the information on this website alone.