LionAchiever

Successfully apply for LionAchiever from 1 October to 31 December 2024 to enjoy a Preferential Premium Deposit Fund (“PDF”) interest rate of up to 4.8% p.a.^* on the prepaid premium during the Premium Prepayment Period, on top of any prevailing customer promotion(s). For details, please visit here.

* The preferential PDF interest rate is not guaranteed. Generali Life (Hong Kong) Limited (“Generali”) reserves the right to revise the rates from time to time.

We all harbour dreams and aspirations—some bold, others deeply meaningful. Achieving these dreams doesn’t necessarily require risking your hard-earned wealth in high-stakes investments or relying solely on luck.

LionAchiever (“the Plan”) , a long-term savings and participating life insurance plan underwritten by Generali, offers high potential returns with financial protection. The Plan also supports great flexibility in managing your wealth, legacy planning options to meet your specific financial needs as well as financial planning for unforeseen situations. No matter how many years lie ahead, the Plan will support you in achieving your dream at every stage of your journey. 

From now on, if you withdraw the cash value of LionAchiever and transfer to your overseas bank accounts via telegraphic transfer, we will waive the charge related to telegraphic transfer^@ of such remittance collected by the relevant bank or service provider once per Policy Year. 

Remarks:

1.     Terminal Dividend is not guaranteed and may be altered by Generali any time. Generali will update you the amount of Terminal Dividend (if any) at each Policy Anniversary on the respective anniversary statement since it becomes available, provided that the Policy is still in force. The actual amount of Terminal Dividend (if any) will only be determined at Generali’s absolute discretion when exercising Terminal Dividend Lock-in Option or when it is payable.

2.     For Regular Lock-in Option, you are required to apply and get Generali’s approval at least 2 months before the next Policy Anniversary. It will be effective upon Generali’s approval and the 1^st lock-in will take place on the Policy Anniversary immediately after the approval date. The aggregated lock-in percentage of both Regular Lock-in Option and Flexi Lock-in Option shall not exceed 60%. After exercising Terminal Dividend Lock-in Options, any future Terminal Dividend will be adjusted correspondingly at a rate to be determined by Generali based on the Terminal Dividends which have been locked-in. Upon approval of the request, no change or cancellation of the option is allowed. Please refer to the terms and conditions in the Policy Provisions for details of the Terminal Dividend Lock-in Options.

3.     Guaranteed Cash Value, Terminal Dividend, Total Premiums Paid and Total Premiums for calculation of relevant Benefits will be reduced proportionately upon partial surrender.

Subject to Generali’s approval and the prevailing administrative rules, you may exercise Regular Partial Surrender from the 3^rd Policy Anniversary. You may apply for Regular Partial Surrender by submitting written request to Generali on Generali’s prescribed form and get Generali’s approval with at least 2 months before the start of Regular Partial Surrender. Regular Partial Surrender will be effective upon Generali’s approval and the 1^st Regular Partial Surrender will take place on the Policy Anniversary immediately after the approval date. Subject to the requirement of minimum Notional Amount of the Policy as per Generali's prevailing administrative rule, and if the total surrender amount is not enough to pay the requested regular partial surrender amount, Regular Partial Surrender will cease automatically.

4.     The interest rate is not guaranteed. For the latest interest rate, please refer to the illustration.

5.     Subject to Generali’s approval and the prevailing administrative rules, you may apply for withdrawal from the Benefit Accumulation Account at any time by submitting a written request to Generali on Generali’s prescribed form.

6.     To apply for the Extended Grace Period Option, you are required to submit a written request to Generali in prescribed form at least 1 month before the start date of the specified Grace Period. Once exercised, the 1^st premium due on or immediately after the approval date of the request shall be paid on or before the last day of the Extended Grace Period. During the Extended Grace Period, the Policy will remain effective. However, premium will continue to accrue and any due and unpaid premiums during that 180-day period are required to be settled by the end of the Extended Grace Period. Please note, if you have prepaid the premium with sufficient amount to settle the premium due, this Option will not be applicable. On the date when no more premium payment is required under the Policy or when this Option has been exercised, whichever is earlier, Extended Grace Period Option shall automatically terminate.

7.     Premium Holiday Option is only applicable to Policy with Premium Payment Term of 5 years.

The start date of the Premium Holiday must be on the Policy Anniversary. To apply for the Premium Holiday Option, you are required to submit a written request to Generali on Generali’s prescribed form at least 1 month before the start of the Premium Holiday. Any Indebtedness must be repaid before the Premium Holiday is effective. Upon the start of the Premium Holiday, all supplementary benefit(s) (if any) attached to the Policy will be terminated. The Premium Holiday Option shall automatically terminate on the occurrence of the earliest of (i) the aggregate period of Premium Holiday taken is equal to 2 years; (ii) on the date the Basic Plan is paid up; and (iii) the Policy Anniversary at which the Insured attains age 70 or the new Insured under Legacy Planning Option attains age 70.

8.     Once the Surrender Benefit becomes payable under Contingent Recipient Option, the Policy shall automatically terminate.

9.     A person who is incapable, by reason of mental incapacity, of managing and administering their property and affairs. The diagnosis must be confirmed by a Registered Medical Practitioner who is a psychiatric specialist. Generali reserves the right to conduct an independent evaluation of the Insured whenever deemed necessary to ascertain the diagnosis.

10.  Accident Death Benefit shall automatically terminate on the occurrence of the earliest of (i) the 3^rd Policy Anniversary; and (ii) once the Accidental Death Benefit is payable.

11.  Total Premiums Paid refers to all premiums due and paid to Generali before the Expiry Date excluding substandard premiums (if any) and premiums of any supplementary benefits.

12.  Total Premiums refer to all premiums paid and payable to Generali before the Expiry Date excluding any substandard premiums and premiums of any supplementary benefits.

13.  You may exercise Change of Insured Option starting from the 1^st Policy Anniversary. The application of Change of Insured Option is subject to Generali’s prevailing administrative rules and the following requirements:

·       The new Insured must be alive at the time of the Legacy Planning Option is exercised;

·       The new Insured must have an insurable interest with the Policyholder; and

·       The new Insured must be younger than the existing Insured or below age 75.

The application of Policy Continuation Option is subject to Generali’s prevailing administrative rules and the following requirements:

·       There is only 1 beneficiary before the death of the existing Insured;

·       The new Insured must be alive at the time of the Legacy Planning Option is exercised; and

·       The new Insured must be younger than the existing Insured or below age 75.

If the existing Insured and the Policyholder is the same person, upon the death of the existing Insured, the new Insured will become the new Policyholder at the same time.

Please refer to the terms and conditions in the Policy Provisions for details of the Legacy Planning Option.

14.  Starting from (i) the 3^rd Policy Anniversary; or (ii) the end of the Premium Payment Term, whichever is later, you may exercise the Policy Split Option by applying in writing to Generali in Generali's prescribed form within 30 days after the Policy Anniversary. Upon the split, Generali will transfer the policy values of your Policy, which include Guaranteed Cash Value, Terminal Dividend (if any) and balance of the Benefit Accumulation Account (if any) to the Split Policy according to your specified split percentage. All rounding difference will accrue to Generali. All Options elected under the Preceding Policy will not be applicable to the Split Policy. All benefits, terms and conditions of the Split Policy will follow your Policy, unless stated otherwise. The Policy Date of the Split Policy will be the same as this Policy. After policy split, i) the Notional Amount, policy values and Total Premiums Paid for calculating relevant benefits of your Policy will be reduced by the split percentage; and ii) the Notional Amount of the Principal Policy, Preceding Policy and Split Policy must not be less than the respective minimum requirements as determined by Generali from time to time. The Policyholder, Insured and beneficiary of the Split Policy will be same as your Policy, but you can apply for changing the Policyholder, Insured and beneficiary of the Split Policy at the same time of applying for the Policy Split Option. To process the policy split request, your Policy should have no indebtedness and/or no claim in progress and all requests for withdrawal and locking in Terminal Dividend under your Policy must have been completed. Your application is subject to Generali’s approval and other prevailing administrative rules. After Generali approved your policy split request, no change or cancellation of the request will be allowed. Please refer to Policy Provisions for details.

15.  The default option for the Death Benefit Payment Option is Lump Sum Payment. You can apply to change this option before the death of the Insured, subject to Generali’s prevailing administrative rules. Please refer to Policy Provisions for details.

16.  The interest rate may change from time to time. Generali will determine the interest rate at its absolute discretion.

*The calculation for total breakeven and total IRR has included Guaranteed Cash Value and non-guaranteed Terminal Dividend. It is not guaranteed. It is based on the scenario of 2 Pay, at year 20th, annual premium payment mode with Total Premiums Paid of USD240,000. It has assumed that all premiums are paid in full when due without prepayment, policy loan, withdrawal and exercise of any policy option.

@ It is applicable to withdrawal through partial surrender or withdrawal from Benefit Accumulation Account. It is subject to our prevailing administrative rule which we may determine from time to time at our absolute discretion. We reserve the right to amend or terminate this waiver without advance notice. Overseas transfer is subject to applicable laws, regulations and guidelines from regulatory authorities of the relevant jurisdictions. We will not bear other fees (if any) charged by any correspondent banks / third-party service providers. If the currency of your overseas bank account is different from the policy currency, the remittance may be subject to an exchange rate determined by third-party banks and service providers and you will bear the relevant exchange rate risk. We are not responsible for any act, negligence or failure to act on the part of the relevant third-party banks / service providers. We will not be liable for any loss or damage, costs or other expenses whatsoever and howsoever, directly or indirectly, caused by, arising from or in connection with the relevant third-party banks and service providers. 

The Plan is underwritten by Generali Life (Hong Kong) Limited. 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.