The art of retirement living

Retirement is the golden years of your life giving you the freedom to do all the things you have always been dreaming of. FWD’s RetireFun Deferred Annuity Plan empowers you to live the retirement life you deserve by providing you with a steady stream of monthly guaranteed annuity payment and monthly non-guaranteed annuity payment as a potential extra boost to your retirement income. You can choose your own premium payment term and annuity period, giving you greater flexibility to secure your financial future while enjoying the tax deduction per assessment year from your premiums paid during the premium payment term.

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Disclaimer: The features above are indicative only. Please refer to the Product Brochure and Policy Provisions for details and key product risks. For a complete explanation of the terms and conditions, please call our 24-hour Service Hotline at +852 3123 3123..

By submitting this form, 
  • I have read and understood the Personal Information Collection Statement and agree to be bound by it. 
  • I understand that my personal data collected by FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability) will be used to provide further services in relation to this form.
  1. Age is based on the Insured’s age next birthday.
  2. The monthly annuity payment will be paid to you based on your selected method and preferred currency available and acceptable by us once a month on the specified date by FWD. Please note that the amount payable will be in your preferred currency available and acceptable by us equivalent of the USD based on a market-based currency exchange rate of USD to your preferred currency, as solely determined by FWD from time to time. Any fluctuations in exchange rate of USD to your preferred currency will have a direct impact on the value of the monthly annuity payment as calculated in your preferred currency.
  3. The monthly non-guaranteed annuity payment is not guaranteed and is based on the current dividend scales, which are not guaranteed, of FWD and are determined at least annually and may be adjusted more frequently than annually based on a series of factors including but not limited to market conditions, investment outlook, expenses, policy persistency, claims experience, and FWD’s investment return. The actual amount payable may change anytime, with the values being higher or lower than those illustrated. Under some circumstances, the non-guaranteed benefits may be zero. Please refer to the section of Dividend / Bonus Information & Investment Strategy in the Product Brochure for details.
  4. The Insurance Authority certification is not a recommendation or endorsement of the policy, nor does it guarantee the commercial merit of the policy or its performance. It does not mean that the policy is suitable for all policyholders, nor is it an endorsement of its suitability for any particular policyholder or class of policyholders. The policy has been certified by the Insurance Authority but this certification does not imply official recommendation. The Insurance Authority does not take any responsibility for the content of the product leaflet of the policy, makes no representation as to its accuracy or completeness, expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the content of the product leaflet of the policy.
  5. The tax deductible limit is an aggregate of qualifying deferred annuity premiums and MPF tax-deductible voluntary contributions paid. Tax deduction is subject to the latest rules and regulation of Inland Revenue Department of Hong Kong Special Administrative Region.
  6. Total premium paid is the total amount paid for premium under your policy as at the relevant date, which will be adjusted based on the reduction in monthly guaranteed annuity payment caused by partial surrender (if any).
  7. After holding the policy for 1 year from the later of the policy date or the policy restart date, you can apply for an extension of the grace period to a maximum of 365 days (inclusive of the original 30-day premium grace period) if you are made redundant or laid off during the premium payment term while the policy is in effect, subject to FWD’s applicable rules and procedures as determined in FWD’s sole discretion from time to time. A completed and signed prescribed form or other means acceptable by us together with the document proof should be submitted to FWD (i) within 30 days from the date you first receive a notice of redundancy or lay-off from your employer and (ii) before the end of the original 30-day grace period (if applicable). And during such period, this policy will continue to be in effect but the total cash value will remain at the level when the extended grace period starts. Notwithstanding any clauses under this policy document of this policy, you are not allowed to reduce the monthly guaranteed annuity payment or to apply for any policy loan during such period. If the aggregate sum of premiums that falls due during the extended grace period is fully paid before or at the end of the extended grace period, the total cash value shall be calculated as if extended grace period benefit has not been exercised. This benefit can only be exercised once under this policy. For details, please refer to Policy Provisions.
  8. Only qualifying deferred annuity policy premiums paid will be eligible for tax deduction. Any unpaid premium during the extended grace period or the original 30-day grace period will not be qualified for tax deduction. Please note that you may or may not enjoy the tax deduction on the premiums paid for any outstanding premiums during the grace period or policy reinstatement after the grace period. Please refer to the website of the Inland Revenue Department (“IRD”) of Hong Kong Special Administrative Region or to contact the IRD directly for any tax related enquiries. You should always consult with a professional tax advisor if you have any doubts.
  9. Policy owner can choose the death benefit settlement option for the payment of death benefit (in the form of a lump sum payment, regular installment (annually/monthly), or a mix of both) while the insured is alive and the policy is in effect, subject to FWD’s relevant policies and procedures as determined in FWD’s sole discretion from time to time. The default payment option is lump-sum payment. For settlement option other than lump sum payment, the unpaid amount of death benefit will be deposited with FWD to accumulate non-guaranteed interest until the full amount of death benefit is paid to the beneficiary. The interest (if any) on unpaid balance of the death benefit will be accumulated and paid to the beneficiary in the last installment in lump sum. Such balance does not participate in the participating fund or benefit from its profit. Selection of death benefit settlement option is subject to current applicable rule and procedures and may change from time to time.
  10. Interest rate is not guaranteed and may change from time to time. The interest rate is subject to the latest dividend / bonus declaration philosophy and investment strategy of FWD, please refer to the section of Dividend / Bonus Information & Investment Strategy in the Product Brochure for details.

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