The cash value of a life policy at a given time.
A contract between you and the insurance company in which you invest a single premium (a lump sum payment) or series of premiums in return for regular payouts in the future. Through an annuity, you can continue to receive a steady stream of income during retirement. Find out more about retirement income.
The person nominated to receive the insurance proceeds in the event a claim is made under the policy.
Compensation paid by the insurance company under the terms of the insurance policy. For example, for a life insurance policy, the (death) benefit is the sum paid to a named beneficiary when the insured passes away. See also death benefit.
The scope of protection included under an insurance policy. For example: life insurance cover will include living and death benefits; health insurance will include reimbursements for various medical costs depending on the policy.
Protect your loved ones with our range of critical illness protection.
The payment made to a named beneficiary from an annuity or life policy when the insured passes away.
The amount of an expense that a policy holder must pay before an insurance company will cover any remaining costs.
An additional payout made by an insurance company to participating policy holders from time to time. A dividend is not guaranteed and, if given, the amount is determined by the insurance company.
Items or conditions that are not included under an insurance policy. These will be stated in your policy contract. Consult your financial advisor regarding any exceptions before accepting a policy.
Guaranteed cash value
The minimum amount that a policy is worth on a given date, as stipulated in the policy contract, which the policy holder may receive upon surrendering the policy.
An amount defined under the terms of the policy, to be paid to the policy holder at regular intervals.
ILAS (Investment-linked Assurance Scheme)
Immediate family member
A parent, child or the spouse of the insured.
Individual insurance policy
The first payment made by a policy holder under a new insurance policy.
The person or persons covered by an insurance policy.
See sum insured.
Termination of an insurance policy due to nonpayment of premiums by the policy holder.
A premium that remains the same for the length of the premium term.
Life insurance policy
An insurance policy that pays out an agreed sum to a named beneficiary or beneficiaries upon the death of the person insured.
See critical illness.
The date on which the policy term ends. The policy is no longer effective after the maturity date.
See our range of professionally managed mutual funds.
The person or business who holds an insurance policy. Also referred to as the policy owner.
See policy holder.
A written contract or certificate of insurance (including all clauses, riders, terms and conditions) agreed by an insurance company and the policy owner.
A physical or mental condition diagnosed before an insurance policy comes into effect. In most cases insurance policies will not cover losses/costs that occur as a result of pre-existing conditions.
The payment made by a policy holder in exchange for insurance against a specified risk, as agreed in the insurance policy.
For example, it may be possible to supplement a life insurance policy with critical illness cover, expanding the scope of the policy holder's coverage. This additional critical illness cover is known as a rider on the life insurance policy.
If the primary beneficiary dies before the insured, proceeds from the insurance policy will pass to the secondary beneficiary upon the insured's death.
The maximum amount payable to the beneficiary by the insurer under the terms of a given policy.
Term life insurance
Professionals within an insurance company that determine and evaluate the degree of risk represented by a proposed insured.
The practice of determining and evaluating the degree of risk represented by a proposed insured.
"This policy is an insurance product underwritten by Manulife (International) Limited" means that any rightful claims made under this policy by the policy holder will be covered by Manulife (International) Limited.
Waiver (of premiums)
Find out more about Premium Waiver Benefit and how it can add extra security to your life policy.
Whole life insurance
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To all our Macau customers, please note the relevant content and contact information applicable to you for any enquiries.
Manulife (International) Limited
Avenida De Almeida Ribeiro No. 61,
Circle Square, 14 andar A,
Hotline: (853) 8398 0383
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