universal life insurance

Universal Life

Be assured of business continuity regardless of unexpected events

Universal Life

Be assured of business continuity regardless of unexpected events

At a Glance
Universal Life is a life insurance plan underwritten by Manulife (International) Limited (incorporated in Bermuda with limited liability) (“Manulife”). DBS Bank (Hong Kong) Limited (the “Bank“) is acting as a licensed insurance agency of Manulife.

Universal Life is a flexible life insurance plan that helps protect your company from the unexpected. Your business can benefit from financial assurance and continuity, regardless of unforeseen events. Benefits include:

Key person protection

Insure against the loss of key talent in your company with Key Man Insurance

Talent retention

Promote employee retention by enabling specific employees to save up for future needs, such as child education and retirement scheme

security

Risk management

Protect against business disruption through Credit Protection

business

Business Protection

Boost your Business Continuity plan

Product Features
business

Delivers cash value accumulation

smart-devices

Transparent Policy charges

shopping

Offers guaranteed crediting interest rate

users

Allows for change of life insured*

* Policy owner may request to change the life insured 1 year after the policy issue date. Acceptance of the new life insured is at Manulife’s absolute discretion and will depend on the insurability of this new life insured as well as other terms and conditions as Manulife shall determine from time to time. Upon approval of the change request, additional charges and applicable policy change as determined by Manulife in Manulife’s discretion shall apply. For more details, please refer to the change of life insured provision.
How to Apply

Please contact your Relationship Manager for more details.

Explore More
Universal Life Product Guide
FAQs
Should I buy life insurance? Who does it insure?

Life insurance is a way to protect your cash flow against the sudden loss of a key person which can alter the future of your business if a robust continuity plan is not in place. We can also use it as a form of an employee benefits, and to add an alternative asset class to your company’s portfolio.
How does policy value accumulate?

Any relevant policy charges* and crediting interest rate will impact the growth in your policy value. Notional Amount Charge and Cost of Insurance are deducted monthly from the policy value with Notional Amount Charge payable only in the first 15 policy years. The guaranteed crediting interest rate for the plan is 2.25% per annum.

*Please refer to the “Policy Charges” section of Universal Life Product Guide and the policy provisions for the detail charges.

Important Notes

  1. Universal Life is a life insurance plan underwritten by Manulife (International) Limited (Incorporated in Bermuda with limited liability) (“Manulife”). DBS Bank (Hong Kong) Limited (the “Bank”) is acting as a licensed insurance agency of Manulife.
  2. The below is provided to you in the Bank’s capacity as an authorized institution regulated by the Hong Kong Monetary Authority.
    • Universal Life (‘the product’) is a long-term life insurance plan with a savings element. Part of the premiums pays for the insurance and related costs. The savings element is reflected in the cash surrender value and may not be guaranteed. The product is aimed at customers who look for a long term life protection and have ability to fulfill the premium requirement. The product will be subject to a surrender charge for surrender in the first 15 policy years. You are advised to prepare enough financial resource for future premium, if applicable.
    • Credit Risk - Any premiums you paid would become part of Manulife’s assets and so you will be exposed to Manulife’s credit risk. Manulife’s financial strength may affect its ability to meet the ongoing obligations under the insurance policy.
    • Risk from cashing in (surrender) early - If you cash in the policy, the amount Manulife will pay is the Net Cash Surrender Value worked out at the time you cash in the policy. Net Cash Surrender Value equals to Account Value less Surrender Charge, any outstanding Monthly Deductions due and Policy Loan, and Surrender Charge is applicable for cashing in the policy (surrender) in the first 15 policy years. Depending on when you cash in your policy, this may be considerably less than the total premiums you have paid. You should refer to the proposal for the illustrations of the Net Cash Surrender Value Manulife projects.
  3. This webpage is only a reference. You should not base solely on this website to make decision on applying for the product. The risks disclosed above are not exhaustive and you should refer to the product leaflet, proposal and policy provision for the risk disclosures and exact terms and conditions and if in doubt, seek independent professional advice.
  4. This webpage is only for use in Hong Kong Special Administrative Region.