Sunlife Ruby Endowment 3/8

Sunlife's Ruby Endowment 3/8
Guaranteed Returns,
Capital Guaranteed
Return is higher than Fixed Deposits!

 

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Apply for Sunlife's Ruby Endowment Plan
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This premium amount is payable for 3 years. You will be paying Sunlife directly.

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Premium can be paid in RMB or HKD. The exchange rate will be the spot rate as determined by Sunlife if the proceeds are paid in HKD.
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Policy 1
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We will contact you for details on your other existing insurance policies.
Declarations
I am a tax resident in Hong Kong and Hong Kong is the only jurisdiction for which I am resident for tax purposes.
I have not replaced in the past 12 months any or a substantial part of my existing life insurance policy(ies) with this application / proposal.
I do not intend to replace in the next 12 months any or a substantial part of my existing life insurance policy(ies) with this application / proposal.
My objective for buying this product is to save up for the future and I want a product with a savings (non-participating) product. I understand that Ruby Endowment 3/8 is not an investment-linked, participating or universal life product.
My target benefit period is 8 years and I am willing to pay the Annual Premium for 3 years.
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Key features for
Ruby Endowment 3/8

 (Ruby Endowment 3/8 is a RMB denominated tranche product and the tranche may be full at any time.) 

 

Guaranteed return more than fixed deposits

 

Guaranteed Return of up to 2.61%* p.a.. More than Fixed Deposits

Capital Guaranteed


Capital
Guaranteed

Potential RMB appreciation for capital gain


Potential RMB appreciation for capital gains

8 years policy term piggy bank


8-Year Policy Term

3 year premium term


3-Year Premium Term




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Why apply
Sunlife's Ruby Endowment 3/8?

 

The Ruby Endowment plan is a RMB plan that provides fully guaranteed returns and a capital guarantee on your premiums. On top of a higher yield, you will have the potential to enjoy appreciation of the RMB over time.

 

The guaranteed return of 2.61% p.a.* is more than the fixed deposit rates available for RMB which are around 0.6% p.a.**.

 

Note that this plan is not available for residents of Mainland China.

 

RMB to HKD Currency Appreciation

 

The RMB has appreciated significantly relative to the HKD over the longer term. Note that there is short-term volatility between the two currencies.

 

HKD CNY

Source: Bloomberg, as at 17 Jan 2020

 

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Policy illustration for Ruby Endowment

 

2.61% p.a. guaranteed return for premiums sizes of RMB97,945 or above

3. Basic Plan - Illustration Summary (Currency: Renminbi)

 

End of Policy Year Total Premiums
Paid
Surrender Value Death Benefit
Guaranteed Cash Value Guaranteed Value
1 100,000 0 101,000
2 200,000 30,629 202,000
3 300,000 91,888 303,000
4 300,000 205,217 303,000
5 300,000 300,168 303,170
6 300,000 306,294 309,357
7 300,000 336,923 340,292
8 300,000 359,283 362,876

 

 

2.3% p.a. guaranteed return for premiums sizes below RMB97,945.

3. Basic Plan - Illustration Summary (Currency: Renminbi)

 

End of Policy Year Total Premiums
Paid
Surrender Value Death Benefit
Guaranteed Cash Value Guaranteed Value
1 20,000 0 20,200
2 40,000 6,000 40,400
3 60,000 18,000 60,600
4 60,000 40,200 60,600
5 60,000 58,800 60,600
6 60,000 60,000 60,600
7 60,000 66,000 60,600
8 60,000 70,380 71,084

 

Note that an Insurance Levy paid in addition to the premium required under the Insurance Ordinance (Cap. 41), Insurance (Levy) Order and Insurance (Levy) Regulation will be charged. This rate is currently 0.06% up to a maximum of HK$60, 0.085% up to a maximum of HK$85 from 1 April 2020 to 31 March 2021 and 0.1% thereafter up to a maximum of HK$100.

 

Here are some common questions
about Sunlife's Ruby Endowment 3/8

1. Can I just pay all my premiums upfront instead of over 3 years?

 

Yes, you can choose to pre-pay your premiums the pre-paid premiums will earn a rate of 3.5% p.a. up to the time when the premiums are due to be paid. e.g one year's interest for the pre-payment of Year 2's premium.

 

 

2. What is the minimum and maximum premium size?

 

The minimum annual premium is RMB20,000, payable for 3 years and the maximum annual premium is RMB3,264,833.30.

 

 

3. Do I need to go for a medical examination if I apply for Ruby Endowment?

 

No medical underwriting is needed for Ruby Endowment.

 

 

4. Is there a surrender penalty if I surrender my policy?

 

There is a surrender penalty before Year 6. You will get back less then the total premiums. At the end of Year 6, the surrender value is equals to the total premiums paid.

 

 

 

* 2.61% returns apply to Annual Premiums of RMB 97,945 or above. The guaranteed rate is 2.3% for lower premiums.

** HSBC 12 month Time Deposits for RMB above RMB 500,000 as at 21 Jan 2020.

 

InsureDIY Limited is an insurance broker licenced by the Insurance Authority of Hong Kong and is authorised to distribute insurance in Hong Kong.

 

 

8-Year Policy Term