Splendid Harvest Income Plan

Splendid Harvest Income Plan

Top 3 Advantages

Full Guarantee

Providing guaranteed cash payments, guaranteed return and guaranteed capital preservation upon maturity

Monthly Income

Offering a monthly guaranteed cash payment to facilitate liquidity

Inheritance

Policy can be in force up to age 130 of the Initial Insured, featuring an easy way to pass on your wealth

To live a prosperous and hassle-free life, you require a comprehensive financial plan to fulfil your financial goals to prepare for your enjoyable retirement and to leave a great legacy. Tahoe Life’s Splendid Harvest Income Plan (the “Plan”) meets your financial goals in different situations and brings you a fruitful life.

The Plan provides monthly guaranteed income from the first policy monthiversary date1. In addition, you have an option to receive the income in cash monthly or leave it in your policy for interest accumulation. In addition to the monthly guaranteed income, the Plan brings you 100% of total premium as maturity benefit. What’s more, you can pass your accumulated wealth to your next generations through change of insured!

 

 

Features

Provide monthly guaranteed income

To help fulfil your financial goals, the Plan provides you with a monthly guaranteed cash payment2 on each policy monthiversary date while the policy is in force. The guaranteed cash payment amount in a whole year is equivalent to 3.80%3 of guaranteed maturity benefit, with assumed benefit term of up to age 130 of the initial insured4. You may choose to leave the guaranteed cash payments in the policy to earn interest5 or to receive them in cash monthly.

 

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Capital preservation at maturity

In addition to the guaranteed cash payment, the Plan provides you with guaranteed cash value once the policy is in force. It helps you meet different needs in life or assist your family to face any sudden changes. At maturity, the guaranteed cash value equivalent to 100%6 of total premium and any accumulated guaranteed cash payment and interest (if any) will be payable as maturity benefit. You will receive monthly guaranteed income as well as realise capital preservation.

Accumulate prepaid premium at guaranteed interest rate of 5.15% p.a.7

You can choose to prepay your 2nd year premium at the time of policy application8. The prepaid premium will be accumulated at a guaranteed annual interest rate of 5.15% p.a.. Thus, you are only required to pay the net premium after deducting the guaranteed interest which helps you save money.

2 years short premium payment term

Premium payment term of the Plan is just 2 years. The premium is guaranteed to remain unchanged once it is determined, facilitating better financial planning for your future.

Change of life insured option

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Life protection

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Death benefit settlement option

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No medical underwriting

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More Support

Product Brochure
About Accumulation Interest Rates & Investment Policy
  1. Policy monthiversary date means the day of each month following and coinciding with the policy date. Where there is no such day in any month coinciding with the policy date, it shall mean the last calendar day of that month. Nevertheless, if the policy date falls on the last calendar day of the month, policy monthiversary date means the last calendar day of each month following the policy date.
  2. The guaranteed cash payment will be calculated based on the latest guaranteed maturity benefit. The guaranteed maturity benefit is used to calculate premium, guaranteed cash value and guaranteed cash payments. In case the guaranteed maturity benefit is reduced while the policy is in force, the premium and benefit amounts payable will be reduced accordingly. The guaranteed maturity benefit is not equal to the death benefit and will not be paid upon the death of the insured. For details of the death benefit, please refer to the policy contract of the Plan.
  3. The Plan offers guaranteed cash payments based on the below calculation:
    Remark Chart (Splendid Harvest) EN
    Example:
    Assume (i) benefit term of 30 years, premium payment term of 2 years and annual premium of USD 135,000 (i.e. the guaranteed maturity benefit of USD 270,000), (ii) the guaranteed maturity benefit remains the same, (iii) the policy is still in force at maturity and (iv) there is no policy loan:
    The monthly guaranteed cash payment is USD 270,000 x 0.2917% = USD 787.59.
  4. Initial insured means the insured whose life is insured at the start of the policy.
  5. The guaranteed cash payment will be accumulated at a non-guaranteed annual interest rate, which is subject to change and will be determined by Tahoe Life from time to time.
  6. Assume (i) the guaranteed maturity benefit remains the same, (ii) the policy is still in force at maturity and (iii) there is no policy loan.
  7. Prepaid renewal premium ("prepaid premium") and levy on prepaid premium will be kept in a designated account of the policy and accumulated at a guaranteed annual interest rate 5.15% p.a.. If the prepaid premium is insufficient to pay the renewal premium when due, the policyowner is required to pay the outstanding premium in order to keep the policy in force, otherwise the policy may lapse after the grace period has expired in accordance with the policy contract.
  8. The application of prepaid premium can only be valid when the prepaid premium and levy on prepaid premium is paid at the time of policy application together with the filled application form and signed illustration of prepayment option. The prepaid premium and levy on prepaid premium will only be used for the settlement of renewal premium and levy due. Prior to the settlement of renewal premium and levy, the prepaid premium and levy on prepaid premium will be kept in a designated account of the policy but will not form part of the paid premium until it is payable. 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.
  9. Change of insured is subject to policy contract and the prevailing administrative rules in execution. Change of new insured will not affect guaranteed maturity benefit, death benefit, accumulated guaranteed cash payment and interest (if any), guaranteed cash value, policy date, maturity of the policy and policy year. Tahoe Life reserves the right to reject the application of change of insured.
  10. Death benefit settlement option is only applicable to policies that the premium payment term has been completed. 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 Tahoe Life, the balance of death benefit and its accumulated interest (if any) will be paid to the estate of the beneficiary in a lump sum payment. The monthly instalment amount must not 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.