1. No. 1 in Italy refers to Generali Group’s 2022 ranking based on Written Premiums. Please refer to generali.com for more details
2. 10Life product comparison and 10Life insurance ratings are developed by 10life Financial Limited. Rating is from established mathematical calculations. The top insurance products in the market are rated as 5 Star. For the rating calculations and details, please refer to the 10Life website. (https://bit.ly/3W6qPCW).
3. Major Critical Illness Benefit will be payable upon diagnosis of Major Critical Illnesses listed above and until termination of the Policy. In respect of each Major Critical Illness, the Major Critical Illness Benefit shall be payable maximum once only, except Cancer, Stroke and Heart Attack. Loss of Independent Existence and Terminal Illness will cease after the 1st Major Critical Illness Benefit claim. For Major Critical Illness Benefit claims more than once, it is subject to waiting periods and terms and conditions. Please refer to the terms and conditions in the Policy Provisions for details.
4. Waiting period for Cancer, Stroke and Heart Attack are as follows:
· The waiting period of the subsequent claim on Cancer is at least 1 year from the diagnosis date of all the preceding Cancer(s), given that the first diagnosis of subsequent Cancer is a new Cancer and unrelated to all the preceding Cancer(s); and
· The waiting period of the subsequent claim on Cancer is at least 3 years from the diagnosis date of all the preceding Cancer(s), if the subsequent Cancer is a recurrence, metastasis or persistence of any preceding Cancer(s).
· The waiting period of the subsequent claim on Stroke is at least 1 year from the diagnosis date of the preceding claim(s), given that such subsequent Stroke is new and unrelated to all the preceding claim(s).
· The waiting period of the subsequent claim on Heart Attack is at least 1 year from the diagnosis date of the preceding claim(s), given that such subsequent Heart Attack is new and unrelated to all the preceding claim(s).
5. Extra Coverage Benefit will only be payable either on the 1st Major Critical Illness Benefit claim or Death Benefit claim before the 10th Policy Anniversary. This benefit can only be claimed once under the same Policy and it will cease after the claim.
6. Coverage of illnesses will not be applicable to mother (as the Insured before the birth of baby). During the pregnancy stage, Compassionate Refund of Premium Benefit will be payable upon miscarriage, stillbirth, pregnancy termination that is recommended by a registered specialist doctor or death of both mother and baby. The Policy will be terminated upon the claim of such benefit. If Compassionate Refund of Premium Benefit has not been claimed upon the birth of baby, the Policy will continue to be in force and the Compassionate Refund of Premium Benefit will cease. The Insured will be changed to the baby. Please note that birth certificate of the baby is required to be submitted by 14 days before the 1st Policy Anniversary. Otherwise, the Policy will terminate on the 1st Policy Anniversary.
7. After the 1st Policy Anniversary and during the lifetime of the Insured, but before age 70 of the Insured, the Policyholder may apply to convert the Policy to another life insurance product offered by the Company at the time of such request with the Sum Assured of new Policy same as or lower than that of the existing Policy without further evidence of insurability is required. This option is not applicable to any Policy with any paid or payable claims. Any Substandard Premium or any extra exclusion(s) applicable to the existing Policy will continue to be applied to the new Policy converted under this Guaranteed Conversion Option. Upon successful conversion, this Policy shall terminate and the Company will have no further liability under this Policy. The application for the new Policy is subject to the Company’s the then current administration rule, the selected product’s product rules (including but not limited to issue age requirement, minimum Sum Assured requirement), any other regulatory requirements and the approval by the Company.
8. HKD 60,000 is the maximum tax deductions per taxpayer per year for qualifying annuity premiums and MPF tax deductible voluntary contributions. For details on tax deductions, please visit Inland Revenue Department (IRD) of HKSAR website at www.ird.gov.hk and consult a professional tax advisors for tax advice.
9. Monthly Annuity Income comprises of Guaranteed Monthly Annuity Income and Non-guaranteed Monthly Annuity Income (if any) which will be paid on monthly basis during the Annuity Income Period. The Non-guaranteed Monthly Annuity Income can be adjusted on each Policy Monthiversary and the actual amount during the Annuity Income Period may vary. The amount of Non-guaranteed Monthly Annuity Income will be determined based on the Company’s dividend philosophy. You may choose to cash out the Monthly Annuity Income and/or keep the Monthly Annuity Income in the Policy for interest accumulation at an interest rate which is not guaranteed and shall be determined by the Company from time to time at its absolute discretion. If no option is elected, cash out option will be applied to the payment of Monthly Annuity Income.
Above plans are underwritten by Generali Life (Hong Kong) Limited or Assicurazioni Generali S.p.A
Remarks: Above product features do not contain the full provisions of the Plan and the full terms can be found in the Policy Provisions. For details of the definition of Major Critical Illnesses, Early Stage and Minor Illnesses, benefits, conditions for payment of claims, exclusions, risk disclosure and other items under the Plan, please refer to the Policy Provisions.
This Plan may serve as standalone plan(s) without bundling with other type(s) of insurance product. You are required to read the relevant product brochure, the Policy Provisions and the proposals presented by your Insurance Advisers or the Company’s Representatives in order to fully understand the details of the definitions, charges, product features, exclusions, and conditions of payment of claims, etc. plus complete terms and conditions.