Blissful Life Insurance Plan

Blissful Life Insurance Plan

- 188% of protection

- Multiple protections

- With death benefit settlement option  

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Perhaps there is nothing more important in life than your loved ones. You work hard so your family can live a blissful life. In the face of an unpredictable future, a proper and early planning is a significant commitment you make to your family. Tahoe Life's Blissful Life Insurance Plan (the “Plan”) can help you save for the future and provides comprehensive coverage at an affordable premium, allowing you to set your mind at ease and focus on achieving your life goals. The Plan also provides financial support for your loved ones at critical moments, so that they can maintain a stable and worry-free life even in stormy times.

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Features

188% of protection with just one policy

Being the primary breadwinner in your family, you are committed to protecting your family and offering them the best that you can. The Plan brings you an additional death benefit, ensuring your beloved family have sufficient financial support during hard times. If the insured unfortunately passes away within the first 24 policy years while the policy is in force, in addition to the death benefit equivalent to 100% of the sum assured, the Plan will pay an additional death benefit to the designated beneficiary. The additional death benefit for the first 15 policy years is equal to 88% of the sum assured. Hence, you can get a life protection as high as 188% of the sum assured by just paying premium for a policy with 100% of the sum assured. The total amount of guaranteed death benefit will be gradually reduced starting from the 16th policy year as shown in the following table: 

Schedule of total amount of guaranteed death benefit

Policy year

Percentage of sum assured

First 15 policy years

188%

The 16th policy year

183%

The 17th policy year

178%

The 18th policy year

168%

The 19th policy year

158%

The 20th policy year

148%

The 21st policy year

138%

The 22nd policy year

128%

The 23rd policy year

118%

The 24th policy year

108%

The 25th policy year and thereafter

100%

Multiple protections for extra peace of mind

Accidents can strike at any time and often catch people unprepared. It can bring along unpredictable financial burden and greatly affect the living standard of your family. Therefore, the Plan provides multiple protections for both the insured and the policyowner, putting a safety net for you and your loved ones in the event of any mishap.

 

Accidental death benefit1 – If the insured passes away due to an accident, the Plan will pay an accidental death benefit equivalent to 100% of the total premiums due and paid of the basic plan, up to USD125,000 or HKD1,000,000 (per insured).

 

Waiver of premium benefit2 – If the insured suffers from total disability caused by disease or bodily injury before age 60 for a continuous period of 180 days or above, the premiums payable under the basic plan of the policy during the continuance of the total disability of the insured will be waived. You can rest assured that you and your family can continue to benefit from a comprehensive protection.

 

Owner accidental death benefit  – If the policyowner passes away due to an accident, the premiums payable under the basic plan of the policy following the date of death of the policyowner will be waived, so that the protection can be kept in place and your love for your family can linger on.

Plan wealth succession early with death benefit settlement option3

Instead of a lump-sum payment of death benefit, you can choose a monthly instalment with fixed amount for settling the death benefit to your designated beneficiary, so you are in control of the future financial arrangement for your loved ones and family.

Prepare for uncertainty with contingent owner nomination4 

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Guaranteed insurability option5 to cater to your evolving needs 

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Dividends6 and guaranteed cash value to help you build wealth

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Various payment options to suit your financial preference

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Choices of additional coverage8 for greater protection  

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Call (852) 3767 9188 or

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Blissful Life Insurance Plan

More Support

Product Brochure
About Policy Dividends & Investment Policy
  1. Accidental death benefit is only applicable if i) the insured passes away as a result of an accident while the policy is in force; ii) the accidental death benefit is not terminated; and iii) the insured is at or below age 65 on the policy date. This accidental death benefit shall automatically terminate on the premium paid up date, the policy anniversary date on or immediately following the 70th birthday of the insured, or when the basic plan converts into extended term insurance or reduced paid-up insurance (whichever is earlier). The upper limit of the accidental death benefit per insured is USD125,000 / HKD1,000,000, irrespective of the number of Blissful Life Insurance Plan policies issued by Tahoe Life on the life of the insured.
  2. The waiver of premium benefit is applicable to insured who is at or below age 55 on the policy date and shall terminate on the policy anniversary date on or immediately following the 60th birthday of the insured. Regardless of the original basic plan’s modal premium, Tahoe Life shall pay the waiver of premium benefit as if the basic plan were on a monthly premium mode.
  3. The death benefit settlement option is only available after the 5th policy anniversary date. If the death benefit amount is greater than or equal to USD125,000 or HKD1,000,000, you can choose to settle death benefit by monthly instalment with fixed amount to the designated beneficiary. The monthly instalment amount is determined by a percentage of the death benefit while the minimum total monthly amount is 1% of the death benefit. If the beneficiary passes away during the monthly instalment period, Tahoe Life shall, upon receipt and approval of due proof of death in the form specified by us, pay the balance of the death benefit and its accumulated interest (if any) to the estate of the beneficiary in a lump sum payment. The monthly instalment amount must not be less than the minimum amount, which is determined in the sole discretion of Tahoe Life from time to time without prior notice. If there is more than one beneficiary, you must choose the same death benefit settlement option for all beneficiaries, failing of which, we will pay the death benefit in lump sum to all beneficiaries. The unpaid balance of the death benefit will be accumulated at a non-guaranteed interest rate, which is subject to change and will be determined by Tahoe Life from time to time. Please refer to the relevant policy contract for the details of the policy terms including the death benefit settlement option.
  4. Any application for the nomination of a contingent owner must fulfil the relevant rules and procedures as determined by Tahoe Life from time to time. Upon the death of the policyowner, the transfer of the ownership shall be approved and become effective after Tahoe Life's receipt of satisfactory proof of the policyowner's death and any documents as requested in accordance with the following requirements: i) if a contingent owner of the policy is nominated, the contingent owner will become the new owner of the policy provided that the contingent owner and the insured are alive during the approval of the contingent owner as the new owner of the policy; or ii) if there is no contingent owner nominated or the contingent owner is unable or unwilling to take the ownership of the policy for whatever reason, the policy shall form part of the policyowner's estate. Tahoe Life reserves the right not to accept any application of nomination of contingent owner and not to approve the contingent owner as the new owner of the policy. 
  5. After the policy has been in effect for one year from the issue date or the reinstatement date (whichever is later), and before the policy anniversary date on or immediately following the 65th birthday of the insured, you may exercise the guaranteed insurability option to purchase one of Tahoe Life's then available whole life insurance plan for the insured without any proof of insurability upon insured's i) graduation from university (bachelor degree or above); ii) first wedding anniversary; iii) child is born; or iv) spouse or parent passes away in an accident. The application of the new whole life insurance plan and all necessary documents required by Tahoe Life must be submitted and received by Tahoe Life within 90 days after one of the above life events happens. The guaranteed insurability option is only applicable to policy with standard class of risk and with no extra exclusions. It is, however, not applicable to policy of the basic plan which is converted from any term plan policy or purchased under any guaranteed insurability options. The maximum sum assured of the new whole life policy is 50% of the latest sum assured of the basic plan of the original policy, and USD500,000 or HKD4,000,000, whichever is lower. This option can be exercised once per policy of the basic plan only. When exercising this option to purchase Tahoe Life's whole life plan, the policy must fulfill any prevailing business requirements of the new whole life insurance plan, including but not limited to the issue age and sum assured, at the time Tahoe Life receives the application. Tahoe Life has to right to determine any prevailing rules at its sole discretion from time to time. 
  6. The Plan is a participating policy. Annual dividends and terminal dividend are not guaranteed, subject to change and will be determined by Tahoe Life from time to time. For details of the non-guaranteed benefits, please refer to the below section on “Non-guaranteed benefits”. Annual dividends will only be payable when the policy is effective and there are no overdue premiums. The accumulation interest rate for annual dividends accumulation is not guaranteed, subject to change and will be determined by Tahoe Life from time to time. For details of the policy dividends, please refer to the below section on “About Policy Dividends” or visit Tahoe Life’s website, https://www.tahoelife.com.hk/tl/doc/pd_en.pdf
  7. The premium must be paid by annual payment. The application of prepayment of renewal premium ("prepaid premium") can only be valid when the prepaid premium and levy on prepaid premium are fully paid at the time of policy application together with the filled application form and signed illustration of premium prepayment option. The prepaid premium and levy on prepaid premium will only be used for the settlement of renewal premium and levy on renewal premium due. Prior to the settlement of renewal premium due, the prepaid premium will be kept in a designated account of the policy but will not form part of the paid premium until renewal premium is payable. The accumulation interest rate for prepaid premium and levy on prepaid premium is not guaranteed, subject to change and will be determined by Tahoe Life from time to time. The prepaid premium and levy on prepaid premium will not form part of the guaranteed cash value or any benefit under the policy and will not be attributed to the calculation of death benefit. If the insured passed away before the end of the premium payment term, the remaining balance of prepaid premium and levy on prepaid premium shall be returned to the policyowner or his / her estate. Upon policy surrender or full withdrawal of the balance of the prepaid premium and levy on prepaid premium before the end of the premium payment term, the surrender benefit or amount being withdrawn shall be returned to the policyowner, and any interest on the balance of the prepaid premium and levy on prepaid premium of that policy year will be forfeited. Only full withdrawal of the balance of the prepaid premium and levy on prepaid premium will be accepted by Tahoe Life. 
  8. Please refer to the respective policy contract for the details of each supplementary contract.