Well Enjoy Deferred Annuity Plan Supreme 2

Looking for a fabulous retirement life? Well Enjoy Deferred Annuity Plan (Supreme) 2 ('the Plan') provides you with monthly annuities for 10 years or 20 years. With the Plan, early retirement is no longer a fantasy.

Online application Guide-7 steps to complete online application. Click to view.

Promotion
Customer can enjoy 15% First-year Premium Discount for successful application of Well Enjoy Deferred Annuity Plan (Supreme) 2 during promotion period.
Receive a regular annuity for 10 years or 20 years. The Plan provides you with choices of policy currency in Hong Kong Dollar, Renminbi and US Dollar.

You can choose between 5-year or 10-year premium payment term:

5-year premium payment term:

  • Issue age between 18 and 44 – Start to receive your monthly annuities when you reach age 50*.
  • Issue age between 45 and 70 – Start to receive your monthly annuities from the 6th policy year.

10-year premium payment term:

  • Issue age between 18 and 39 – Start to receive your monthly annuities when you reach age 50*.
  • Issue age between 40 and 65 – Start to receive your monthly annuities from the 11th policy year.

*First annuity payable on the policy anniversary immediately following the annuitant reaching age 50. 

You can choose between 5-year or 10-year premium payment term:

5-year premium payment term:

  • Issue age between 18 and 44 – Start to receive your monthly annuities when you reach age 50*.
  • Issue age between 45 and 70 – Start to receive your monthly annuities from the 6th policy year.

10-year premium payment term:

  • Issue age between 18 and 39 – Start to receive your monthly annuities when you reach age 50*.
  • Issue age between 40 and 65 – Start to receive your monthly annuities from the 11th policy year.

*First annuity payable on the policy anniversary immediately following the annuitant reaching age 50. 

Enjoy your retirement with a guaranteed Annuity

The Plan offers peace of mind by providing a guaranteed Annuity that will enable you to accurately plan ahead your retirement budget.

TYou may choose to receive the monthly annuities in cash; or leave them with us to accumulate at an interest rate as may be declared by the Company from time to time.

hAny indebtedness under the policy would be deducted from the benefit payment.

The Plan offers peace of mind by providing a guaranteed Annuity that will enable you to accurately plan ahead your retirement budget.

TYou may choose to receive the monthly annuities in cash; or leave them with us to accumulate at an interest rate as may be declared by the Company from time to time.

hAny indebtedness under the policy would be deducted from the benefit payment.

A death benefit to better protect your loved ones

This benefit covers life's uncertainties. If the Annuitant unfortunately passes away while the policy is in force, a death benefit of an amount not less than 105% of total premiums paid will be provided to support the beneficiary(ies). Please refer to Product Summary for details.

This benefit covers life's uncertainties. If the Annuitant unfortunately passes away while the policy is in force, a death benefit of an amount not less than 105% of total premiums paid will be provided to support the beneficiary(ies). Please refer to Product Summary for details.

Simple application process with no health information needed

The online application process for this Plan is simple. You do not need to provide any health information for online applications*.

*Only applicable if total premiums to be paid over the premium payment period are equal to or below HKD 2,000,000 / RMB 2,000,000 / USD250,000 for the same annuitant. If such limit is exceeded, Well Link Life may require your health information for underwriting purpose.

The online application process for this Plan is simple. You do not need to provide any health information for online applications*.

*Only applicable if total premiums to be paid over the premium payment period are equal to or below HKD 2,000,000 / RMB 2,000,000 / USD250,000 for the same annuitant. If such limit is exceeded, Well Link Life may require your health information for underwriting purpose.

Tax deduction for premium payments

You can apply for annual tax deductions under the salaries tax and personal assessment with Inland Revenue Department for your premiums paid with an allowance of up to HK$60,000 per taxpayer for each assessment year*.

*Any tax deduction under the salaries tax and personal assessment with Inland Revenue Department for premiums paid under the Well Enjoy Deferred Annuity Plan (Supreme) 2 shall be subject to your individual circumstances. Please note that the Plan may be sold to the person(s) aged 65 or above, who may have plan to retire or retired during the premium payment period of the Plan. In this case, you may wish to further visit your eligibility of tax deduction for your premiums paid during the premium payment period and seek your independent tax advice as appropriate. It is also at Inland Revenue Department’s discretion on tax deduction when your premiums are paid over the premium payment period. Please refer to the ‘Tax Implication of Qualifying Deferred Annuity Insurance Policy’ section for details regarding key risk factors. For more information, please contact the Inland Revenue Department www.ird.gov.hk or seek independent tax advice.

You can apply for annual tax deductions under the salaries tax and personal assessment with Inland Revenue Department for your premiums paid with an allowance of up to HK$60,000 per taxpayer for each assessment year*.

*Any tax deduction under the salaries tax and personal assessment with Inland Revenue Department for premiums paid under the Well Enjoy Deferred Annuity Plan (Supreme) 2 shall be subject to your individual circumstances. Please note that the Plan may be sold to the person(s) aged 65 or above, who may have plan to retire or retired during the premium payment period of the Plan. In this case, you may wish to further visit your eligibility of tax deduction for your premiums paid during the premium payment period and seek your independent tax advice as appropriate. It is also at Inland Revenue Department’s discretion on tax deduction when your premiums are paid over the premium payment period. Please refer to the ‘Tax Implication of Qualifying Deferred Annuity Insurance Policy’ section for details regarding key risk factors. For more information, please contact the Inland Revenue Department www.ird.gov.hk or seek independent tax advice.


Well Enjoy Deferred Annuity Plan Supreme 2 (Applicable for Online Application)

Product Type

Basic Plan

Issue Age

5-year premium payment: Age 18 to age 70

10-year premium payment: Age 18 to age 65

Premium Payment Mode

Annual / Monthly

Policy Currency

HKD / RMB / USD

Premium Payment Term

5 years / 10 years

Minimum Premium Amount

5-year premium payment

Annual: HKD38,000 / RMB38,000 / USD4,900 per year        

Monthly: HKD3,344 / RMB3,344 / USD432 per month

10-year premium payment

Annual: HKD20,000 / RMB20,000 / USD2,500 per year

Monthly: HKD1,760 / RMB1,760 / USD220 per month

Maximum Premium Amount (Online Application)^

Annual: HKD120,000 / RMB120,000 / USD15,000 per year  

Monthly: HKD10,560 / RMB10,560 / USD1,320 per month


If you would like to apply for higher premium amount, please contact our insurance consultants, or call our Customer Service Hotline at +852 2830 7500.

Accumulation Period

5-year premium payment:

Issue Age 18 to Age 44︰Till annuitant's age 50

Issue Age 45 to Age 70︰5 years

10-year premium payment:

Issue Age 18 to Age 39︰Till annuitant's age 50

Issue Age 40 to Age 65︰10 years

Annuity Period

10 years / 20 years

Annuity

Monthly annuity amount shall equal to the guaranteed annuity amount.

Annuity Options

Two options for selection:

  • Option 1: Paid in cash
  • Option 2: Leave with the Company to accumulate at a non-guaranteed interest rate as may be declared by the Company from time to time

If no option is elected, Option 1 will be applied automatically. You can change your annuity option without any charges.

Internal Rate of Return (IRR) Annuity period (20 Years)

IRR^ below is for illustration only:

Issue Age: Age 45

Premium payment term: 5 years

Accumulation period: 5 years

Annuity period: 20 years


Policy Currency

HKD    

Guaranteed IRR: 2.57% - 2.93% p.a.

Total IRR: 2.57% - 2.93% p.a.

RMB

Guaranteed IRR: 2.81% - 3.17% p.a.

Total IRR: 2.81% - 3.17% p.a.

USD    

Guaranteed IRR: 2.71% - 3.07% p.a.

Total IRR: 2.71% - 3.07% p.a.


Issue Age: Age 45

Premium payment term: 10 years

Accumulation period: 10 years

Annuity period: 20 years


Policy Currency

HKD   

Guaranteed IRR: 2.79% - 3.09% p.a.

Total IRR: 2.79% - 3.09% p.a.

RMB

Guaranteed IRR: 2.99% - 3.27% p.a.

Total IRR: 2.99% - 3.27% p.a.

USD   

Guaranteed IRR: 2.88% - 3.17% p.a.

Total IRR: 2.88% - 3.17% p.a.


Internal Rate of Return (IRR) Annuity period (10 Years)

IRR^ below is for illustration only:

Issue Age: Age 45

Premium payment term: 5 years

Accumulation period: 5 years

Annuity period: 10 years


Policy Currency

HKD   

Guaranteed IRR: 2.32% - 2.90% p.a.

Total IRR: 2.32% - 2.90% p.a.

RMB

Guaranteed IRR: 2.58% - 3.15% p.a.

Total IRR: 2.58% - 3.15% p.a.

USD   

Guaranteed IRR: 2.43% - 3.00% p.a.

Total IRR: 2.43% - 3.00% p.a.


Issue Age: Age 45

Premium payment term: 10 years

Accumulation period: 10 years

Annuity period: 10 years


Policy Currency

HKD    

Guaranteed IRR: 2.63% - 3.05% p.a.

Total IRR: 2.63% - 3.05% p.a.

RMB

Guaranteed IRR: 2.85% - 3.26% p.a.

Total IRR: 2.85% - 3.26% p.a.

USD    

Guaranteed IRR: 2.74% - 3.15% p.a.

Total IRR: 2.74% - 3.15% p.a.


Death Benefit

During accumulation period:

the higher of:

(a) 105% of the total premium paid at date of death of the annuitant; or

(b) guaranteed cash value

Any indebtedness will be deducted from death benefit payment.  


During annuity period:

(i) the higher of:

(a) 105% of the total premium paid at date of death of the annuitant less the total annuity distributed; or

(b) guaranteed cash value; plus

(ii) any annuity* left with the Company for accumulation as at the date of death of the annuitant

Any indebtedness will be deducted from death benefit payment.

Surrender Benefit

During accumulation period:

(i) guaranteed cash value; less

(ii) any indebtedness 


During annuity period:

(i) guaranteed cash value; plus

(ii) any Annuity* left with the Company for accumulation as at the effective date of surrender

Any indebtedness will be deducted from Surrender Benefit.

Maturity benefit

Shall equal to:

(i) any annuity* left with the Company for accumulation; less

(ii) any indebtedness

* With interest at a non-guaranteed interest rate as may be declared by the Company from time to time.

^ The internal rate of return (IRR) is subject to the Annuitant’s issue age, your chosen policy currency, premium payment term, annuity period premium and payment mode . The above shows the range for guaranteed internal rate of return and total internal rate of return for monthly and annual premium payment modes.

Promotion
Customer can enjoy 15% First-year Premium Discount for successful application of Well Enjoy Deferred Annuity Plan (Supreme) 2 during promotion period.

Note:

1. This plan is underwritten by Well Link Life Insurance Company Limited.

2. The above content contains general information for reference only and does not form part of the policy. Please refer to the policy document for benefit coverage and exact terms and conditions.