Applying FWD Cash-up Insurance Plan (“the Product”) via Octopus O! ePay by downloading Octopus App
Applying FWD Cash-up Insurance Plan (“the Product”) via Octopus O! ePay1 by downloading Octopus App, giving you the convenience to build up savings, helping you to get closer to your dreams. Earning has never been so handy!
Octopus O!ePay service is only for making payment for approved service(s) offered by FWD and / or accepting to add value to O!ePay account by FWD. Octopus Cards Limited is not an insurance intermediary of FWD.
Account value is the first premium, plus subsequent premiums (if any), plus crediting interest (if any), less partial surrender(s) (if any). FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability) (“FWD”) will accrue the crediting interest daily starting from the following day of the premium paid which has been applied to the policy account. FWD will credit interest to the policy account on:
each policy anniversary;
the death claim receipt date; and
the surrender date after FWD approves your surrender request.
Starting from the 4th policy year, crediting interest rate is not guaranteed and is subject to change during the term of the policy and the guaranteed minimum crediting interest rate for the Product is 0% per annum. The current interest rate declared by FWD or crediting interest rate history shall in no way be interpreted as a projection or estimation of future return. For crediting interest rate history, investment strategy and philosophy in deciding crediting interest rate, please refer to Crediting Interest Rate & Investment Strategy section that could be found in the product brochure.
The amount of partial surrender is subject to the minimum and maximum partial surrender amount (if any) prescribed by FWD at its sole discretion from time to time. No partial surrender request will be allowed if, once the partial surrender request is effected, the account value will reduce to a level below the minimum account value prescribed by FWD at its sole discretion from time to time. FWD may defer payment of partial surrender benefits or surrender benefits for a period of up to 6 months from the date of FWD’s receipt of the duly completed request. FWD shall not be liable for any loss incurred as a result of this deferral, including but not limited to interest.
The Product has no fees and charges but service fees may apply for additional services.
Partial surrender(s) may reduce the account value and policy benefits including death benefit and accidental death benefit.