Comprehensive Insurance Solutions

Forward-Thinking Wealth Succession

Every family hopes to carry their love from one generation to the next. CCB (Asia) understands how much your children and grandchildren's future means to you, so we have partnered with a major insurance company to give you a variety of solutions for wealth succession. Regardless of your wealth, we can help you pass on the meaningful inheritance of love across generations for years to come.

How can life insurance effectively help you with Legacy Planning?

Life insurance is an effective Legacy Planning tool, offering not just the potential for asset value increase, but also encompassing the following advantages:

Six Advantages

Cost-Effective
Legacy Planning
Solution

Compared to traditional inheritance tools like trusts, life insurance eliminates the need to freeze assets, offering a simpler and more cost-effective solution

Wealth Transfer
Facilitation

The “Change of Insured” option^# allows the policy holders to extend their wealth to loved ones through life insurance

Minimizing the Lengthy Process of Inheriting an Estate

With clear policy provisions, the beneficiary or beneficiaries can receive the death benefit more quickly without the process of inheriting an estate

Allocation Based
on Personal
Wishes

Life insurance allows for clear establishment of asset planning, ensuring that assets can be successfully passed on to next-of-kin or other designated beneficiaries and the chance of family disputes over asset allocation is relatively lower

Flexible Asset
Allocation

By utilizing the split-policy option^# and designated beneficiary arrangement, life insurance can help to allocate wealth to the next generation effectively

Enhanced
Inheritance
Flexibility

The option for regular payment of benefit^# can prevent reckless spending

^#Only applicable to designated life insurance plans. For details, please contact our Bank staff.

Reference Steps for Legacy Planning Through Life Insurance

Define your legacy planning goals

Determine the goals you want to achieve in your wealth succession plan, such as providing education for your children, supporting charitable causes, or safeguarding family assets

Evaluate your insurance needs

Evaluate your family’s financial needs, considering factors such as subsidy for income, liability repayment, future expenses, etc.

Choose a suitable plan

Choose a life insurance plan that aligns with your legacy planning goals and budget

Consider other features

For greater financial flexibility, you can consider different policy feature options, such as currency conversion, flexible withdrawals, policy splitting, change of insured persons option, etc. to cater to different needs at various life stages

Case Study

Case Study 1

Case Study 2

One decision today, a legacy for three generations.
Insuring US$100,000 today could potentially enable future generations to inherit over US$21,000,000!

Policy holder/Insured

Vicky (50 years old¹)

Accounting Manager

Goal 1

Long-term potential returns

Goal 2

Unlimited change of insured, ensure continuous wealth inheritance

Single Premium Payment:
US$100,000

1^st End of Policy Year

First-generation insured
Vicky

Total Policy Value (Non-guaranteed):

US$396,100³
(Approximately 396%^* of the total premium paid)

25^th End of Policy Year

Vicky, 75 years old¹

Vicky transfers the policy insured and policy holder² to her son, Gordon (40 years old¹).

Second-generation insured:
Gordon

Total Policy Value (Non-guaranteed):

US$1,548,233³
(Approximately 1,548%^* of the total premium paid)

45^th End of Policy Year

Gordon, 60 years old¹

Gordon transfer the policy insured and policy holder² to his daughter, Daisy (30 years old¹).

Third-generation insured:
Daisy

Total Policy Value (Non-guaranteed):

US$21,069,651³

(Approximately 21,070% of the total premium paid)

Approximately equivalent to
211 times

of the total premium paid

80^th End of Policy Year

Daisy, 65 years old¹

Daisy has the option to withdraw cash from the policy, either for personal use or leave the policy value for her children.

Internal Rate of Return 6.917%^*

The above calculations are based on the age of his/ her next birthday of an individual
The policy beneficiary may exercise the option to change the insured person while the policy is still in effect and both the current insured and the new insured are alive
The numbers are rounded up to the nearest integer for illustrative purposes

This case is based on a policy holder of age 50 female (non-smoker). She applies for MaxFocus Vision Insurance Plan underwritten by FWD with US$100,000 by single premium payment. She does not withdraw any policy value. The figures are hypothetical and for illustrative purpose only.

Policy Year of Completion

Single Premium Payment:
US$100,000

First-generation insured
Vicky

25^th End of Policy Year

Total Policy Value (Non-guaranteed):

US$396,100³
(Approximately 396%^* of the total premium paid)

Vicky, 75 years old¹

Vicky transfers the policy insured and policy holder² to her son, Gordon (40 years old¹).

Second-generation insured:
Gordon

45^th End of Policy Year

Total Policy Value (Non-guaranteed):

US$1,548,233³
(Approximately 1,548%^* of the total premium paid)

Gordon, 60 years old¹

Gordon transfer the policy insured and policy holder² to his daughter, Daisy (30 years old¹).

Third-generation insured:
Daisy

80^th End of Policy Year

Total Policy Value (Non-guaranteed):

US$21,069,651³

(Approximately 21,070% of the total premium paid)

Approximately equivalent to
211 times

of the total premium paid

Daisy, 65 years old¹

Daisy has the option to withdraw cash from the policy, either for personal use or leave the policy value for her children.

Internal Rate of Return 6.917%^*

The above calculations are based on the age of his/ her next birthday of an individual
The policy beneficiary may exercise the option to change the insured person while the policy is still in effect and both the current insured and the new insured are alive
The numbers are rounded up to the nearest integer for illustrative purposes

Setting up a legacy plan early and executing it in phases to support the needs of both yourself and the next generations at different stages in order to maximize the benefits

Mr. Lee (aged 63)

A married businessman before retirement, with three generations living under one roof

Goal 1

Transfer assets in phases and distribute them to the next generations according to different life periods and needs

Goal 2

Retain sufficient funds for retirement

Mr. Lee’s Life Events

Wealth Transfer in Phases

As his children grow up and he enters the latter half of life with his business on track, Mr. Lee applies for a life insurance plan (including a savings component) that helps him accumulate his wealth early. He plans to transfer his assets in phases to help his children realize their goals in the future.

40 years old

Business expands and his children have grown up. His son, Max, 25, has been working for a period of time, while his daughter, Emily, 22, has graduated from university.

52 years old

Max (Mr. Lee’s son) has a steady girlfriend. With the use of insurance policy as early asset planning, Mr. Lee plans to withdraw part of the policy value and give it to Max as down payment on a flat to prepare for marriage.

Emily (Mr. Lee’s daughter) graduates from a university. Thanks to his father’s accumulated assets from the policy, she is able to pursue a Master’s degree in the USA.

Mr. Lee takes out part of the policy value and treats himself to a luxury cruise trip with his wife. It is his first long vacation after years of work.

Starts to plan for retirement with his wife. Max has his first child, Edan.

60 years old

Excited by the arrival of his grandchild, Mr. Lee flexibly re-allocates his assets again. He withdraws part of the policy value from the life insurance policy which he has applied for a long time ago as a gift to his grandchild.

Utilizing the funds provided by Mr. Lee, Max applies for an endowment plan for Edan to build wealth.

Steps back from business and moves to Thailand with his wife for a quality retirement life.

63 years old

Mr. Lee re-allocates his asset again by sparing part of the policy value for own use and splitting one policy into three life insurance policies. He appoints Max, Emily and Edan as insureds respectively. Besides, Max and Emily are policy holders.

With the above-mentioned policy value, he gets sufficient income to support his monthly expenses.

Max uses his inheritance to set up a company and Edan’s policy is kept on for wealth accumulation as Max leaves it for Edan to decide how to use this wealth in the future. Emily uses her part to buy a house in the USA and moves there with her husband to enjoy a happy life.

Mr. Lee’s Life Events

Wealth Transfer in Phases

40 years old

52 years old

Business expands and his children have grown up. His son, Max, 25, has been working for a period of time, while his daughter, Emily, 22, has graduated from university.

60 years old

Starts to plan for retirement with his wife. Max has his first child, Edan.

63 years old

Steps back from business and moves to Thailand with his wife for a quality retirement life.

Promotional Offers

Up to 15% Refund on First Year Premium at Policy Inception¹

Life Insurance Plan Cash Reward up to HK$10,000²

Learn more

Remarks:

Applicable to MaxFocus Vision Insurance Plan underwritten by FWD with the promotion period till September 30, 2024. Applicant must sign and submit the insurance application form together with payment of the net premium and insurance levy (levy is calculated on the premium after discount) in designated payment mode through the Bank and successfully applied dedicated insurance plan within the promotion period.
Promotion period till September 30, 2024.

Act Now!

Make an appointment and talk to our professional advisors to learn more!

Learn more about Life Insurance Product

^*Important notes:

The policyholder is subject to the credit risk of the insurance company.
If the policyholder discontinues and/or surrenders the policy in the early policy years, the amount of the benefits policyholder will get back may be considerably less than the amount of the premiums paid.
The projected and/or potential benefits and/or returns (e.g. bonuses, dividends, interests) and also the policy value abovementioned is/are not guaranteed and is/are for illustrative purposes only and the actual future amounts of benefits, returns and policy value may be lower than or higher than the currently quoted benefits, returns and policy value.

Enquiry Hotline : 2903 8343

Disclaimer
China Construction Bank (Asia) Corporation Limited (Insurance Intermediary License No: FA3132) (“the Bank”) is the appointed insurance agency of FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability) ("FWD Life"), to distribute life insurance products in the Hong Kong Special Administrative Region. Relevant life insurance products are the products of the insurance company(ies) but not the Bank. The above life insurance products are issued and underwritten by FWD Life. FWD Life is authorized and regulated by the Insurance Authority (“IA”) to carry on long-term insurance business in the Hong Kong Special Administrative Region. Please refer to the sales documents, including product brochure, benefit illustration and policy documents and provisions issued by FWD Life for details (including but not limited to insured items and coverage, detailed terms, key risks, conditions, exclusions, important notes, policy costs and fees) of the life insurance products. FWD Life reserves the right to decide at each of their sole discretion to accept or decline any application for life insurance product according to the information provided by the proposed Insured and the customer at the time of application. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Bank and the customer out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however, any dispute over the contractual terms of the life insurance product should be resolved between FWD Life and the customer directly. Information on this website is intended to be distributed in the Hong Kong Special Administrative Region (“Hong Kong”) for reference only, and shall not be construed as an offer to sell or a solicitation of an offer or recommendation to purchase or sale or provision of any insurance product in or outside Hong Kong.

Pursuant to the Insurance (Levy) Regulation (Cap. 41I) and the Insurance (Levy) Order (Cap. 41J) under the Insurance Ordinance (Cap. 41), the IA collects levies for insurance premiums from policyholders with effect from 1 January 2018. For further details, please visit the website of IA. For the latest information about the IA, please visit https://www.ia.org.hk. For the latest information about The Insurance Complaints Bureau, please visit https://www.icb.org.hk.

Risk Disclosure
Customers should read the sales documents, including product brochure, benefit illustration (if applicable) and policy documents and provisions issued by relevant insurance company to understand the details of the insurance plan (including but not limited to detailed terms, conditions, coverage, exclusions, fees and product risks) and consider whether the insurance product meets their personal needs before application. Policyholders are subject to the credit risk of relevant insurance company.

For life insurance product, an insurance plan may comprise a savings element. Part of the premium will be paid for the insurance and related costs. If a customer is not completely satisfied with his/her life insurance policy, the customer has a right to cancel it within the cooling off period and obtain a refund of relevant premium and levy paid. To exercise such right, a notice of cancellation signed by the customer must be received by relevant insurance company’s Hong Kong Main Office within the cooling off period (i.e. within 21 calendar days immediately following either the day of the delivery of the policy or delivery of a Cooling-off Notice (stating the availability of the policy and expiry date of the cooling off period) to the customer or the customer’s nominated representative, whichever is the earlier). After the cooling off period is expired, if a customer cancels the policy before maturity, the surrender value may be less than the total premium the customer has paid.