Total Coverage for Extra Financial Protection
While it is true that your dear family thrives on your love and care, it is essential to financially prepare for the unexpected. A comprehensive insurance coverage is not only for your personal protection, but also safeguards your family.
ICBC (Asia) and Zurich Life proudly present the ICBC (Asia)Term Plan - "Term Plan". The Term Plan offers either a 5 or 10-year guaranteed renewable option*, or alternatively, a 15 or 20-year non-renewable choice. With these various alternatives for the period of insured and affordable premiums, Term Plan ensures that you and your family are always protected against the unexpected.
*The premium on renewal depends on the attained age of the Life Insured and prevailing premium rates at time of renewal.
Comprehensive Protection for Extra Peace of Mind
The Term Plan features the following comprehensive benefits:
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Basic Term Life Insurance
In the event of the death of the Life Insured caused by sickness or accident, the beneficiary will receive the death benefit in the amount equal to the Sum Insured. To provide you with easy financial planning, the Term Plan guarantees a fixed premium within the insured period.
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Waiver of Premium Benefit
Should the Policy Owner suffer from temporary total disablement and unable to work for a continuous period of 26 weeks or more during the policy term, we will refund all premiums paid during the said 26 weeks. In addition, any future premiums will be waived until the earlier of the Policy Owner's recovery or age 65 (age 60 if female). Entry age of the Policy Owner for this benefit is 19-50 age next birthday.
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Flexibility for Easy Financial Planning
The Term Plan also offers low premiums for different entry ages for the Life Insured. Upon the policy maturity date, you may renew the policy without having to provide any medical certification*. The policy can be renewed up to the age of 65 for a 5-year guaranteed renewable plan and up to age 60 for a 10-year guaranteed renewable plan. Please refer to the attached table for further details about this plan, as well as the premium table for your reference.
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*Only applicable to 5 and 10 year guaranteed renewable Term Plan.
Extra Flexibility
To enhance our customer service, the Term Plan offers you the following extra benefits:
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90-day Policy Reinstatement Period
Even if you have forgotten to pay the premium, no insurability evidence is required for applying policy reinstatement within 90 days from the last due date of the unpaid premium. As such, in the event of the Life Insured's death during the said period, the benefit will be paid if the policy has been reinstated and the outstanding premium has been fully paid.
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Cooling-off Period
To let you fully understand the details of the Term Plan, there is a Cooling-off Period. You may cancel and return the policy together with a written notice signed by you within 21 days after the date of application; or 14 days from the policy issue date as specified in the first schedule of the policy; or 14 days after the date of copying the Customer Protection Declaration to your existing insurer if your policy is a replacement; or 5 days after the issuance of the notification letter of the availability of the policy, whichever is later. Total paid premium will be refunded to the Policy Owner.
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Important notes:
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The leaflet is only a summary of the Term Plan and is not a contract of insurance. For more details, please refer to the policy document of Term Plan.
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Zurich Life Insurance Company Limited ("Zurich Life") is the insurance underwriter of Term Plan and is solely responsible for all coverage and compensation.
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ICBC (Asia) is not responsible for any liability under policies underwritten by Zurich Life.
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Zurich Life Insurance Company Limited is a company incorparated in Switzerland with limited liability.
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Details of Term Plan
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Guaranteed Renewable |
Non-renewable |
5 Year |
10 Year |
15 Year |
20 Year |
| Entry age for the Life Insured (Age next birhtday) |
19-60 |
19-55 |
19-55 |
19-50 |
| Plan Currency * |
HKD |
USD |
GBP |
AUD |
| Minimum Sum Insured |
Age 50 or below |
500,000 |
62,500 |
50,000 |
80,000 |
| Age over 50 |
250,000 |
31,250 |
25,000 |
40,000 |
| Minimum Premium |
Annual |
750 |
100 |
70 |
125 |
| Semi-Annual |
375 |
50 |
35 |
62.5 |
| Monthly |
62.5 |
8.33 |
5.83 |
10.42 |
| Waiver of Premium |
Optional |
| Payment Method |
Monthly Payment by Direct Debit
Semi-Annual Payment and Annual Payment by Direct Debit or Renewal Notice |
If you select currency other than HKD as Plan Currency, your monthly premium will be denominated in that Plan Currency and converted into HK Dollar for payment at the exchange rate prevailing at the time of payment.
Premium Rate Reference Table (For each HK$/US$100,000 Sum Insured)
Entry age for the Life Insured (Age Next Birthday) |
Female |
Male |
Annual Premium (HK$/US$) |
Annual Premium (HK$/US$) |
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Non-smoker |
Smoker |
Non-smoker |
Smoker |
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5 Year Guaranteed Renewable Term Plan |
25 |
105 |
108 |
105 |
114 |
35 |
115 |
146 |
128 |
181 |
45 |
193 |
330 |
251 |
446 |
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10 Year Guaranteed Renewable Term Plan |
25 |
105 |
110 |
105 |
114 |
35 |
146 |
160 |
198 |
255 |
45 |
400 |
500 |
560 |
700 |
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15 Year Non-renewable Term Plan |
25 |
118 |
125 |
118 |
128 |
35 |
155 |
198 |
198 |
280 |
45 |
454 |
628 |
610 |
850 |
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20 Year Non-renewable Term Plan |
25 |
120 |
136 |
123 |
155 |
35 |
240 |
252 |
255 |
322 |
45 |
531 |
679 |
700 |
912 |
Remark:
The above premium rates are for reference only and do not include the Policy Fee and Waiver of Premium Charge (optional).
How to find out more
The information contained in this webpage is designed to serve as an introduction only. For all relevant clauses and details, you should refer to the insurance contract.
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