February 2016

Future assured for your family

When taking the first plunge into the working world, marriage or parenthood, you definitely must have plans for the future. A life insurance policy is surely one of the most important components in your financial plan to give you and your loved ones peace of mind. To get insured, you can start with a “term life insurance” that offers life protection at an affordable premium. 

Case study

John, 30 years old, has just purchased his first home, valued at HKD 3,000,000. Though he is happy to have such a cosy home to live in with his wife, he began to worry that the mortgage could become a burden for his wife in case of an unexpected eventuality. He hopes to get affordable protection offering at least HKD 2,000,000 life coverage to ensure his wife is financially secured if he is not around anymore.

Simple protection, competitive rate

To get coverage of HKD 2,000,000, John may consider buying a term life insurance policy such as FWD’s Elite Term Plan at a monthly premium of approximately HKD 3201. The premium payment will stay the same for the first 20 years, and the plan is convertible to a permanent life insurance plan to meet John’s need in the future. 

In contrast to a permanent life insurance, which comes with both protection and savings elements, the premiums paid for a term life insurance go towards protection only and therefore can be at a more competitive rate. Except for home buyers, this type of policy is suitable for people who are breadwinners for their family and want to provide a safety net for their loved ones within a limited budget. 

Get a quote for the Elite Term Plan and apply online now. You may also contact your financial advisor for more information2

Remarks:

  1. Assume John to be a non-smoker and his health condition meets the standard level. The premium is calculated on standard rates and is for reference only. The actual premium to be paid will be determined by FWD Life Insurance Company (Bermuda) Limited once your application has been approved.
  2. The product is subject to terms and conditions. FWD Life Insurance Company (Bermuda) Limited has the right to approve or reject any application.

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