We all want the best future and protection for our loved ones and ourselves. “Taiping EliteLife Protection Plan” (“the Plan”) provides you with whole life protection as well as saving elements, allowing you and your family to enjoy a good life with peace of mind.

Peace of mind with whole life protection

The Plan provides whole life protection with stable returns. If the Insured dies while the Plan is in force, the Beneficiary will receive a Death Benefit* which is equivalent to:

(i) Sum Assured;
(ii) Plus Accumulated Cash Dividend and Interest (non-guaranteed; if any);
(iii) Plus Face value of Special Bonus (non-guaranteed; if any);
(iv) Plus Prepaid Premium (if any);
(v) Plus accumulated interest on Prepaid Premium (if not yet withdrawn; if any);
(vi) Less any outstanding indebtedness due from you to us under the Plan.

Flexible choices to meet your needs

Premium can be paid annually, semi-annually, quarterly, and monthly. Besides, you may choose to prepay premium at policy application subject to the “PREPAID PREMIUM” Provision. Prepaid Premium for the remaining premium years will enjoy a non-guaranteed Prepayment Interest Rate1, enabling you to achieve your saving goals more easily.

Accumulate wealth for a lifetime of prosperity

The Plan provides you with both Guaranteed Cash Value and non-guaranteed Cash Dividends, enabling you to accumulate fortune and plan the prosperous future for yourself and your family easily. 

You will earn Guaranteed Cash Value while the Plan is in force. Also, Cash Dividends2 (if any) shall be credited to your Policy on each Policy Anniversary Date. You may choose to withdraw the Cash Dividends, or use the Cash Dividends to offset any premium due. Any balance of Cash Dividends remaining after the payment of premiums will be accumulated at an interest rate3 as may be declared by us from time to time and applied to offset future premiums when due.

We will also provide a one-off non-guaranteed Special Bonus4 upon occurrence of the following event:
(i) payment of Death Benefit; or
(ii) surrender of the Policy.

Flexible premium payment terms
The plan offers various premium payment terms. You can choose to pay for 5 years, 10 years and 20 years according to your personal financial needs.


* TPLHK shall upon receipt and approval of due proof of death in the form specified by us, pay the Death Benefit to the Beneficiary. If the Sum Assured is reduced by any reason, the Death Benefit payment will be based on that reduced coverage amount.

1. The Prepayment Interest Rate is not guaranteed.
2. The payment of Cash Dividends is not guaranteed.
3. Interest rates are not guaranteed and may fluctuate during the policy term.
4. Special Bonus are determined and calculated based on TPLHK’s experiences and current projections of surrender values and bonus scales in relation to a number of factors including, but not limited to claims, persistency and investment experience and/or assumptions. These values are not guaranteed and are subject to review and adjustment at our absolute discretion from time to time.

Premium Payment Period / Issue Age Premium Payment Period Issue Age
5 years 15 days to age 70
10 years 15 days to age 65
20 years 15 days to age 55
Coverage Period Whole Life
Policy Currency USD/HKD
Minimum Sum Assured USD30,000/HKD240,000
Premium Payment Mode Annual / Semi-annual / Quarterly /Monthly(or to choose Annual and Prepayment Premium for the remaining policy years)




Bonus concept 
Our participating policies share the bonus from the Company's profits from the relevant group of products (as determined by the Company) by distributing different forms of bonuses, as follows:

Bonus come from the share of divisible surplus (if any) determined by the Company every year. There is a fixed shareholder ratio between the Insured and the shareholders. Once declared by the Company, the amount of bonus declared for the year in question is not subject to change. Bonus left with the Company will accumulate interest at a non-guaranteed rate as may be determined by the Company from time to time.

Since the stated policy bonus is distributed based on the divisible surplus of the Company and the divisible surplus is unpredictable, the corresponding bonus is not guaranteed.
The premiums paid by policyholders will be used to pay all guaranteed benefits for the product and expenses of the Company. Part of it will be invested in assets selected by the Company which suit the features of the product. Based on various long-term assumptions pertaining to that product group (including but not limited to investment yields, expenses, claims and surrender experience), the Company will project a set of bonuses in the proposal which is provided to each prospective policyholder before they apply for a life insurance policy. These bonuses are calculated with the prevailing bonus scale of the Company. When setting the long-term assumptions, the Company will take into account the past experience of similar policies and consider the likely future development. Thus the bonuses projected in the proposal reflect the Company's reasonable estimate at the time of application and are not guaranteed.

At least one time each year (or more frequently upon change in economic and other related factors, if applicable), the Company will review the actual experience of the products of the relevant product group (including but not limited to investment yields, expenses, claims and surrender) against the long-term assumptions it made when projecting the bonus scale. If the recent actual experience turns out to be different from the long-term assumptions, the Company will decide whether any bonuses payable need to be adjusted. The adjustment will also depend on the accumulated divisible surplus from previous years on the policies of the relevant product group.


Due to the different benefit and premium structure of different products, the change in bonus scale will vary for different products. Even where the product is the same, the change in bonus scale will vary among policies denominated in different currencies and policies of different policy classes (e.g. based on age, gender, underwriting class, in-force duration etc.).

The final determination of the bonus scale of the participating policy account will first be recommended by the appointed actuary and subsequently approved and implemented by the professional committee of the board of directors of the Company.

You may browse our website (http://tplhk.cntaiping.com/) to understand the company’s bonus history, profit sharing ratio and bonus fulfillment ratio for reference purposes. Bonus history is not an indicator of future performance of the participating products.


Investment Philosophy and Strategy

Our investment philosophy is to achieve sustainable and stable returns on investments whilst maintaining moderate investment risk levels in the long term. We strive to reward our policyholders with investment returns and protect their interests and reasonable expectations.


Through active portfolio management, we will invest in multiple asset classes to diversify investment risks and secure potential and stable returns under different economic conditions. In general, it is expected that we will, through this product, invest in a variety of asset classes, including but not limited to stocks, real estates, government bonds, corporate bonds, funds, alternative investments and cash. If needed, we may also utilize derivatives to manage our risk exposures, such as currency risk exposures.


In terms of our geographic allocation of investments, we are inclined towards allocating our assets in various geographic regions and our major investment areas are Asia, North America and Pan-European regions currently. Our present currency exposures are mainly in USD and HKD and if we invest in assets in other currencies, we will hedge the foreign exchange risk with the use of FX derivatives.


The asset allocation under our long-term investment strategy for this product is as follows:

Asset Category Long-Term Target Allocation (%)
Fixed Income and Alternatives 60% to 100%
Equity and Fund 0% to 40%


Our investment strategy will be constantly adjusted according to changes in the investment market and economic conditions. We will review our long-term investment targets on a regular basis to ensure that they are in line with our business and financial goals. If there is material change in our investment strategy, we will inform the policyholder of the details of the change, the reasons for the change as well as the impact it may have on the relevant policy.

Taiping EliteLife Protection Plan is issued and underwritten by China Taiping Life Insurance (Hong Kong) Company Limited (“TPLHK”). 

Please note the following Key Product Risks.

1. Exchange Rate Risk
The application of this insurance product with the policy currency denominated in a foreign currency is subject to that foreign currency’s exchange rate and currency risk. The foreign currency may be subject to the relevant regulatory bodies’ control (for example, exchange restrictions). If your home currency is different from the policy currency, please note that any exchange rate fluctuation between your home currency and the policy currency of this insurance product will have a direct impact on the amount of premium required and the value of the benefit(s) to be received. For instance, if the policy currency of the insurance product depreciates substantially against your home currency, the potential loss arising from such exchange rate movement may have a negative impact on your benefits to be received from the product and your burden of the premium payment. You may browse our official website (http://tplhk.cntaiping.com/) to find out the latest prevailing exchange rate for reference.
2. Early Surrender Risk
The Policy is designed for persons looking for life protection as their goal. If you terminate the Policy prior to claims, this may result in loss of all premium paid.  
While the Policy is in force, the policyholder may terminate the Policy by sending a written termination request. If the Policy is terminated or surrendered before claims of the Policy, the Surrender Benefit received by the policyholder may be less than the total Premiums paid.
3. Premium Term Risk
The minimum premium term of this policy is the Premium Term shown on the first page of this proposal. Non-payment of premium within the Premium Term may result in loss of coverage and financial loss. 
4. Prepaid Premium Clawback Charge
Prepaid Premium clawback is permitted for the Prepaid Premium, subject to a clawback charge of USD 260, or 3.5% of claw back amount, whichever is higher. No interest would be accrued to the policyholder if the Prepaid Premium is clawed back. Partial clawback is not permitted. We reserves the right to review and adjust the clawback charge and from time to time.
5. Termination Conditions
This Policy will terminate automatically upon the following whichever is the earliest:

a) upon the death of the Insured; or
b) upon surrender of the Policy; or
c) if any Premium remains unpaid at the end of the Grace Period (subject to “AUTOMATIC PREMIUM LOAN” provision and “REDUCED PAID-UP INSURANCE” provision); or
d) if the amount of the outstanding indebtedness under this Policy exceeds the sum of the Guaranteed Cash Value, Cash Dividend and interest and Special Bonus.

Termination of your Policy under the circumstances stated above will not affect any claim or benefit arising prior to such termination unless otherwise stated.

6. Automatic Premium Loan Risk
The premium of the Policy should be paid in full for the whole payment term. If you fail to pay the Premium due at the end of the Grace Period, the Automatic Premium Loan Option will be automatically exercised. Any Premium remaining unpaid at the end of the Grace Period will be paid by way of an automatic premium loan (“Automatic Premium Loan”) provided that the total sum of the Guaranteed Cash Value, Cash Dividend and interest and Special Bonus is then equal to or greater than the amount of that unpaid Premium. If the total sum of the Guaranteed Cash Value, Cash Dividend and interest and Special Bonus is insufficient to the cover the full amount of the premium in default plus any money due by you to us, no Automatic Premium Loan will be extended and the Policy will lapse, and we will refund to you the Surrender Benefit. You may browse our official website (http://tplhk.cntaiping.com/) to find out the relevant Automatic Premium Loan Rate for reference.
7. Sum Assured Adjustment Risk
If you fail to pay the premium within the Grace Period after this Policy has acquired a Guaranteed Cash Value, the Reduced Paid-Up Option may be exercised upon written request from you and the Guaranteed Cash Value of the Policy would be used to pay for the present value of the future benefit of the Policy. The Sum Assured would then be reduced to certain portion of the original Sum Assured (assuming there is no other indebtedness under the Policy). This figure is to reflect the Guaranteed Cash Value as at the Reduced Paid-Up date, which is significantly less than the total premium paid. The Reduced Paid-Up Option is subject to the Company’s minimum Sum Assured requirements. In the event that the Sum Assured after the exercise of the Reduced Paid-Up option is less than the minimum Sum Assured requirements, the Company will not accept the exercise of this option.
Upon the Company accepting the exercise of the Reduced Paid-Up option, the Policy will continue to be in force but the Sum Assured will be reduced based on the application of the Guaranteed Cash Value less any indebtedness under the Policy. On conversion of the Basic Plan into Reduced Paid-up Insurance, all Supplementary Contracts (if any) will be automatically terminated.

8. Credit Risk of Issuer
The Policy is issued and underwritten by TPLHK. Your Policy is subject to the credit risk of TPLHK and in extreme and the worst scenarios, you are at risk of losing all the premium paid and benefit amount.
9. Inflation Risk
When reviewing the values shown in the illustrations, please note that the cost of living in the future is likely to be higher than it is today due to inflation. 
10. Key Exclusion
No Death Benefit shall be paid if the Insured commits suicide, whether sane or insane, within one (1) year after whichever is the later of (i) the Issue Date; (ii) the Effective Date as indicated in the relevant Endorsement or Supplementary Contract and (iii) the Reinstatement Date, TPLHK’s liability under the Policy will be limited to a refund of the Basic Plan Premiums paid, without interest and after deducting any indebtedness to TPLHK under the Plan. In the case of reinstatement, the refund of the Basic Plan Premiums will be calculated from the Reinstatement Date.
11. Further Assessment
Issuance of the policy, the proposed Sum Assured and risk class are subject to underwriting approval and are not guaranteed. The Company reserves the final right to make the offer subject to the risk as identified.

12. Investment Risk Relating to Equities and Bonds

The Policy involves investing in a basket of assets including exposure to global equities and bonds. The investment returns of the Policy will be affected by the investment performance of global equities and bonds. Interest rate fluctuations and equity fluctuations may adversely affect the non-guaranteed benefits, return and performance of the Policy. The non-guaranteed benefits, return and performance of the Policy are subject to the credit risk of the issuer(s) of the bonds (in which the plan invests) which is not guaranteed by the insurer, agents or distributors. Foreign exchange rates risk applies as most of the equity assets include exposure to the global equity markets and will be denominated in currency which is different from the currency of the Policy. Whilst foreign exchange rate risk is currently managed with currency hedge for bond, residual risk remains.


1. The Insured’s age is calculated based on the age of the previous birthday.
Any premium(s) paid to us but not yet due (“Prepaid Premium”) shall, subject to any maximum amount as determined by us from time to time, accumulate interest at the Prepayment Interest Rate for any Prepaid Premium. The Prepayment Interest Rate is not guaranteed.
Where the Premium for the remaining years are paid in full together with the Premium of the first year, interest will accumulate for the Prepaid Premium. The amount of the Prepaid Premium for the remaining years is equal to the amount of the Premium before special discount (if any) of the first year times the number of the remaining years. 
The Prepayment Interest Rate of this product is not applicable to any other products unless otherwise stated. You may withdraw the Prepaid Premium and / or any interest thereon in accordance with our procedures. Any interest earned but not withdrawn will be non-interest bearing for the remaining term of the Policy. The balance of any Prepaid Premium and /or interest thereon that is not withdrawn shall be automatically used to offset any premium due and payable which is not paid within the Grace Period.


Cancellation Right
A customer who has purchased the life insurance plans has a right to cancel the policy within the cooling-off period and obtain a refund of any premium(s) paid less any withdrawals. Provided that no claim has been made, the customer may cancel the policy by giving written notice to TPLHK within 21 days after: (1) the delivery of the policy or (2) notification (informing the availability of the policy and expiry date of the cooling-off period) to the customer/his/her representative, whichever is earlier. The premium will be refunded in the currency of premium payment at the time of application for this policy. If the currency of premium payment is not the same as the plan currency, the refundable premium amount in plan currency under this policy will be converted to the currency of premium payment at the prevailing currency exchange rate as determined by TPLHK in our absolute discretion from time to time upon payment. After the cooling-off period expires, if a customer cancels the policy before the end of benefit term, the actual cash value may be substantially less than the total amount of premiums paid.

Sales and insurance process must be done in Hong Kong in compliance with regulations.