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LionHarvest Pro Deferred Annuity

LionHarvest Pro Deferred Annuity (the “Plan”) is a Qualifying Deferred Annuity Policy certified by the Insurance Authority1. The Plan assists you in retirement planning with stream of Monthly Annuity Income2 and various protection coverage. Extra financial flexibility can be attained through the options of Monthly Annuity Income2 payout, premium holiday3 and change in Annuity Income Period Start Age4.

5 Key Highlights:
Worry-free retirement

Stream of Monthly Annuity Income2 and Terminal Dividend5 will be provided under the Plan for you to enjoy your retirement with peace of mind.

Take control of your financial arrangement

The Plan provides wide-range of optional Annuity Income Period Start Ages (from age 50 to 80). Extra flexibility is added for changing Annuity Income Period Start Age anytime through FlexiStart Option4 based on your changing needs.

Flexible Monthly Annuity Income[2] payout options

You may choose to cash out the Monthly Annuity Income2 and/or keep the Monthly Annuity Income2 in the Policy for non-guaranteed interest accumulation. You may withdraw accumulated Monthly Annuity Income2 and/or accumulated interest (if any) at any time to satisfy your needs. You can change your payout option anytime without any charges.

Growth Potential on top of Guaranteed Return

The Plan provides guaranteed IRR of 1.50% - 2.50%7 and total projected IRR of 3.20% - 4.20%7,8.

Tax Incentive

If you are a Hong Kong taxpayer, you may claim a concessionary deduction under salaries tax or personal assessment of up to HKD 60,000 per taxpayer9 (or up to HKD 120,000 per Policy for a taxpaying couple) per year for the qualifying premiums paid for the Plan. For further details, please refer to the website of the Inland Revenue Department at www.ird.gov.hk. 

Remarks:
1. The Insurance Authority certification is not a recommendation or endorsement of the policy, nor does it guarantee the commercial merit of the policy or its performance. It does not mean that the policy is suitable for all Policyholders, nor is it an endorsement of its suitability for any particular Policyholder or class of Policyholders. The policy has been certified by the Insurance Authority but this certification does not imply official recommendation. The Insurance Authority does not take any responsibility for the content of the product brochure of the policy, 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 content of the product brochure of the policy.

2. 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.

3. Premium Holiday Option can be exercised from the 2nd Policy Anniversary and before the Insured has attained age 70. Policyholder is required to submit written request to the Company in the Company’s prescribed form at least 1 month before start date of the premium holiday, i.e. 1st day of the next Policy Year. 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 total Premium Holiday taken in aggregate cannot exceed 2 years. Please note, this option is not applicable to any policies that select premium prepayment.

4. The Policyholder may change the Annuity Income Period Start Age with a written request at least 1 month before the original Annuity Income Period Start Date or the new Annuity Income Period Start Date (whichever is earlier). The Annuity Income Period Start Age must be after the premium term and between age 50 and 80. In case of change in Annuity Income Period Start Age, Policy Values (including but not limited to Guaranteed Cash Value, Monthly Annuity Income and Maturity Bonus) will be adjusted accordingly.

5. Terminal Dividend (if any) is a non-guaranteed dividend and will be payable upon surrender or termination (e.g. death of the Insured or lapse of the policy) of the Policy. It will be declared (if any) at least once a year starting from the 2nd Policy Anniversary provided that it is available and the policy is still in force. The actual amount of Terminal Dividend (if any) will only be determined at the Company’s absolute discretion when it is payable. It may also be altered or withdrawn at any time by the Company.

6. Maturity Bonus comprises of Guaranteed Maturity Bonus and Non-guaranteed Maturity Bonus (if any) which will be paid at the end of Policy Term if the Policy is still in force on the Expiry Date and the Insured is still alive. The actual amount of non-guaranteed Maturity Bonus (if any) will only be determined at the Company’s absolute discretion when it is payable.

7. The above illustrated IRRs are based on a 45 year-old non-smoking male. These would be different for other issue ages. No levy, premium discount and tax deduction has been taken into account for IRR calculation. It is assumed that i) all premiums are paid in full when due; and ii) the Policy is held until expiration and entitled to the Guaranteed Maturity Bonus and Non-guaranteed Maturity Bonus (if any).

8. Total projected IRR includes guaranteed and non-guaranteed returns.

9. 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.
The Plan is offered by Generali Life (Hong Kong) Limited.

Remarks: All information on this webpage is for reference only. Terms and conditions apply. Please refer to the product brochure and Policy Provisions for details of terms and conditions, risk disclosures of the Plan.
Awards
Ming Pao Excellence Awards 2021

Excellence Award in Family and Individual Protection 

BENCHMARK Wealth Management Awards 2020

Outstanding Achiever in Retirement - LionPromise Pro

BENCHMARK Wealth Management Awards 2020

Outstanding Achiever in Qualifying Deferred Annuity Policy - LionHarvest


BENCHMARK Wealth Management Awards 2020

Outstanding Achiever in Client Support

2020 International Finance Awards

Most Innovative Life Insurance Product - LionGuardian

INSURANCE ASIA AWARDS 2020

Juvenile Health Insurance Initiative of the year - Hong Kong - LionGuardian

2020 International Finance Awards

Best Travel Insurance Product - Bravo Travel

BENCHMARK Wealth Management Awards 2019

Best-in-Class in Critical Illness - LionGuardian

BENCHMARK Wealth Management Awards 2018

Best-in-Class in Term Life - LionPainter

Enjoy premium discount at 8% of the 1st Policy Year’s premium until 30 September 2021