BENCHMARK
Wealth Management Awards 2021
Outstanding Achiever – Retirement Product
Bloomberg Businessweek
Financial Institution Awards 2022
Annuity Plan: Excellence Performance
In an age of constant change, the ideal retirement solution would be one that provides you with a steady cash flow, plus the flexibility to make changes
MY Flexi Lifetime Annuity* offers a guaranteed annuity, and on top of that it gives you a range of options. With such flexibility, you can manage your future with confidence in spite of uncertainty.
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Frequently Asked Questions
What are the different types of Annuity Plan?
The main types of annuity plan include:
1. Time of receiving the annuity income:
- Immediate annuity: Immediate annuities are more suitable for retirees to invest in. The monthly annuity income will be paid shortly after the premium is paid in a lump sum.
- Deferred annuity: Premiums may be paid either in a single lump sum or by regular payments, and the annuity income will be paid out when the Insured reaches the specified age. Deferred annuity plan is a choice for those who are still at work because the funds continue to grow over time, and upon retirement, the accumulated Cash Value can be converted into stable annuity income.
2. The annuity income period:
- Lifetime Annuity: The plan guarantees lifelong annuity payments even if the Insured lives until 100 years old or even longer.
- Fixed-period Annuity: The annuity income will only be paid over a specified period.
What are the key benefits of “MY Flexi Lifetime Annuity”?
“MY Flexi Lifetime Annuity” is one of the rare "true annuities" available in the market, guaranteeing lifelong annuity payouts, even if you live to be 100 years old or beyond. In addition, the plan offers up to 8 policy currency options, a currency exchange option, policy splitting, and the "Mental Incapacity Advance Instruction Option" a benefit rarely in the market. It also provides 12 annuity options, including a Lifetime increasing-income annuity, joint annuitant, and double annuity for critical illnesses, making it a market unique annuity plan. The plan is highly flexible and can adapt to the diverse needs of customers.
What premium-payment-terms are available in the “MY Flexi Lifetime Annuity”?
The plan offers various premium-payment-term options, from 5 years up to 62 years. A single-premium payment option is also available. Please note that the sum of the issue age and the premium payment term must not exceed age 80.
When can policyholders of “MY Flexi Lifetime Annuity” exercise the Currency Exchange Option?
From the third policy anniversary onwards, policyholders may exercise the Currency Exchange Option to change the original policy currency to a new policy currency to seize global currency opportunities. Please note that the Currency Exchange Option may only be exercised once per policy year.
What kinds of annuity options does "MY Flexi Lifetime Annuity" offer?
"MY Flexi Lifetime Annuity" offers the most comprehensive annuity options in the market to suit your personal or family needs, with a total of 12 different annuity options. These include lifetime fixed-income annuity options, lifetime increasing-income annuity options, joint annuitant options, and a double annuity for illness option. The annuity option may only be exercised for in-force policies with the policy currency in US Dollar (US$), HK Dollar (HK$), Macau Pataca (MOP), or Renminbi (RMB).
