Prestige Achiever Insurance Plan

Prestige Achiever Insurance Plan , Prestige Achiever Insurance Plan (Plan A), Prestige Achiever Insurance Plan (Plan B), Prestige Achiever Insurance Plan (Plan C) are long-term participating life insurance products with a savings element, supplemented with an option for advance realization of the terminal bonus in case of designated illnesses, and are provided and underwritten by Manulife. The above provides only general information on this product for your reference only. Please download the product brochure now or ask your Insurance/Financial Advisor for a copy which will give you more details about this product including the ‘Other product disclosures’ showing the product risks.

1. This is an administrative arrangement and is not part of the product features. Such application is subject to our prevailing administrative rules and conditions which shall be determined and modified by us from time to time without prior notice.
2. The terminal bonus is not guaranteed. We will review and adjust the terminal bonus at least once a month, but we may do so more often. Please see the section titled ‘The main risks affecting the non-guaranteed terminal bonus, non-guaranteed income and the accumulation interest rate of non-guaranteed income / realized terminal bonus’ under ‘Other product disclosures’ in the product brochure.
3. There may be a delay in making payment when you cash in your policy or exercise the realization option or Body and Mind Advance Benefit, especially during periods when the market is experiencing significant rises and falls in value. The actual amount of the terminal bonus that you can get will only be determined after your request has been processed. Under certain circumstances, for example, if the request is not received by us before our prevailing cut-off time or is not in our prescribed format, such amount can be lower or higher than the amount of the terminal bonus tentatively indicated to you at the time you submit the request. Please check with Manulife for the prevailing operational rules and the latest amount of the terminal bonus under your policy before exercising the realization option or Body and Mind Advance Benefit. The accumulation interest rate for building up the realized terminal bonus left with us is not guaranteed and we may change it from time to time. Please see the section titled ‘The main risks affecting the non-guaranteed terminal bonus, non-guaranteed income and the accumulation interest rate of non-guaranteed income / realized terminal bonus’ under ‘Other product disclosures’ in the product brochure.
4. To set up Easy Choice, you must submit a written application in a prescribed format required by us to select an Income Start Anniversary, income payment option and income payment mode upon policy application or after the 1st policy anniversary. The non-guaranteed income is determined from time to time by us at our sole discretion. Exercising this payment option will reduce any future terminal bonus. The Income Start Anniversary, income payment option or income payment mode is allowed to be changed after the 1st policy anniversary. The change will be made effective at the subsequent policy anniversary upon the Company’s approval.
   Once submitted, the application for the setup or change cannot be withdrawn or reversed. The non-guaranteed income will be adjusted based on the new selection. Please see the policy provisions for more details and rules on the setup and change of Easy Choice.
5. You can exercise the realization option within 31 days from the Realization Anniversary (that is, the 10th policy anniversary or every anniversary thereafter) as long as the aggregate realization percentage under the policy over any 25 consecutive policy years does not exceed 50%. To exercise the realization option, you must submit a written application in a prescribed format required by us. Once submitted, the application for exercising such option cannot be withdrawn and no realized terminal bonus will be allowed to be reversed. Exercising the realization option will reduce any future terminal bonus.
6. The Body and Mind Advance Benefit can be exercised 1 year after the later of the issue date or the policy year date. Exercising the Body and Mind Advance Benefit may significantly reduce any future terminal bonus and non-guaranteed income (if any). For the avoidance of doubt, the realized percentage of the terminal bonus under the Body and Mind Advance Benefit will not count into the aggregate realization percentage under the realization option. Please see the ‘Body and Mind Advance Benefit Provision’ for the definition of the designated illnesses, and the terms and conditions for the Body and Mind Advance Benefit.  Please see the section titled ‘Elimination period’ under ‘Other product disclosures’ in the product brochure.