China Life Harvest Income Plan (USD) Review

China Life Harvest Income Plan (USD) product details

• Life policy – Annuity
• USD Annuity Plan
  • Hedge against currency risks by taking up this USD denominated annuity plan
• Premium Payment Options & Income Payout – Pay a single premium or over 5 or 10 years for lifetime yearly income
  • Yearly cash payouts which you can spend as you wish or reinvest for higher returns
  • Single Premium (SP) – From the end of the 5th policy year, receive yearly income the sum of
    • Guaranteed yearly income at 1% of the  face value and
    • Non-guaranteed yearly income and
    • Loyalty bonus at the end of the 5th year and every 5 years thereafter
  • 5 or 10 years Premium Terms – From the end of the premium payment term, receive yearly income the sum of
    • Guaranteed yearly income at 1.0% of the sum assured and
    • Non-guaranteed yearly income and
    • Loyalty bonus at the end of your selected premium term and every 5 years thereafter
• Capital Guaranteed
  • Your capital is guaranteed at the end of the 5th year for the SP option
  • Capital is guaranteed at the end of the premium payment term for the 5 or 10-year premium option
• Death Coverage
  • Single Premium Option
    • Be covered 101% the single premium paid or the guaranteed cash value, all guaranteed and non-guaranteed income which has not yet been paid out, and a non-guaranteed terminal bonus
  • 5 or 10-year Premium Option
    • Be covered 108% the higher of all premiums paid or the guaranteed cash value, all guaranteed and non-guaranteed income which has not yet been paid out, and a non-guaranteed terminal bonus
• Ease of Application
  • No health checks are required to take up this annuity plan
    
    

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Features of China Life Harvest Income Plan (USD) at a glance

Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: Yes

Health and Insurance Coverage
Death: Yes
Total Permanent Disability: No
Terminal Illness: Yes
Critical Illness: No
Early Critical Illness: No

Health and Insurance Coverage Multiplier
Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No

Optional Add-on Riders
China Life Enhanced Payer Benefit Rider
China Life Payer Benefit Rider
China Life Premium Waiver Raider

Additional Features and Benefits
Yes.

For further information and details, refer to China Life website. Alternatively, fill up the form below and let us advise accordingly.

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China Life Harvest Income Plan (USD) may be suitable if you are looking for

China Life Harvest Income Plan (USD) may potentially be a good fit if the following matters to you:

• Regular cash payout from as early as the 5th policy year
• High non-guaranteed bonuses in an annuity policy
• Saving regularly over a short period of time
• A one-time premium commitment with no further cash commitment
• Insurance options without medical underwriting
• Do not need access to the funds until the stipulated payout period
• To potentially generate higher financial returns compared to bank accounts
• Future premium waiver in the event you become totally and permanently disabled
  
  

China Life Harvest Income Plan (USD) may not be suitable if you are looking for

China Life Harvest Income Plan (USD) may potentially be a bad fit if the following matters to you:

• Health and Protection coverage
• High insurance coverage for Death or Terminal Illness
• High insurance coverage for Early Critical Illness, Critical Illness or Total Permanent Disability
• Lump-sum payout upon maturity
• Potentially higher financial returns compared to a pure investment product.
• Insurance policy with a high surrender value in the early years of the policy.
  
  

Read about: Why should you choose a shorter premium term on your insurance policies

Further considerations on China Life Harvest Income Plan (USD)

• How is China Life or China Life Harvest Income Plan (USD) investment returns based on historical performance?
• How does China Life Harvest Income Plan (USD) compare with retirement plans and annuity policies from other insurance companies?
• Can China Life Harvest Income Plan (USD) fulfill my financial, insurance, health, and protection needs?
  
  

The above information may not fully highlight all the product details and features of China Life Harvest Income Plan (USD). Talk to us or seek advice from a financial adviser before making any decision about China Life Harvest Income Plan (USD).

Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering taking up.

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Is China Life Harvest Income Plan (USD) suitable for me?