Refundable Term Plan

Be protected and get back your premiums when the plan ends

Why you will love this
Who can apply

Why you will love this

Guaranteed renewable up to age 75 of the Life Insured

Premiums will remain unchanged throughout the premium payment term¹

Receive a full refund of premiums upon Plan expiry if no claims are made

Who can apply

Issue Age*: Age 16 to 65

Visit a branch

Features and benefits

Short premium payment term

Choose between a 5-year or 10-year premium payment term — giving you the flexibility to match your financial goals.

Guaranteed renewable

You can renew your coverage all the way up to age 75 of the Life Insured, with no medical information required.

Fixed premiums for easier planning

Enjoy certainty and control with premium that stay the same throughout your premium payment term.

Convertible coverage

Prior to the Policy Anniversary on or Immediately following the Life Insured’s 65th birthday and during the benefit term , you can convert all or part of your plan into a new permanent life plan — without evidence of insurability.

Refundable Premium

Starting from the 2nd policy year (for 5-year benefit term) or 3rd year (for 10-year benefit term), a portion of your paid premiums will be refunded upon policy termination.

Download Product Brochure

BEFORE YOU APPLY

Eligibility requirements

Age 16 to 65*

Remarks

*Age means age of the Life Insured at the last birthday

¹The Policy will be terminated if the Policyowner cannot settle the premium payment before the end of the Grace Period during the Premium Payment Term. For detailed terms and conditions, please refer to the policy document issued by Hong Kong Life. If the Policy is terminated before the Policy Maturity, the Guaranteed Surrender Value (if applicable) received by the Policyowner may be less than the Total Premiums Paid.

Important notes

Refundable Term Plan is the product underwritten by Hong Kong Life Insurance Limited (“Insurer”) but not by OCBC Bank (Hong Kong) Limited (“Bank”). The Bank is registered in accordance with the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong) as an insurance agency and is the authorised insurance agency of the Insurer for distribution of the insurance plan in Hong Kong Special Administrative Region(“HKSAR”). The insurance plan is authorised and regulated by the Insurance Authority of HKSAR. The Insurer will be responsible for providing your insurance coverage and handling claims under the insurance plan.

The information, examples and materials contained in this webpage are provided for reference only and do not provide any suggestion or recommendation of any insurance product nor constitute any part of the related insurance policy. You should not rely solely on this webpage to make decisions on applying for the insurance product. Before applying for any insurance plan, you should read carefully and fully understand the leaflet, proposal and policy provisions of the relevant plan (including but not limited to terms and conditions, coverage, exclusions and risk disclosures), and when necessary, you should also seek independent and professional advice before making any decision.

WAYS TO APPLY

Apply for Refundable Term Plan