CCW Global is able to provide comprehensive Endowment Life Insurance plans in Hong Kong which will provide the payment of a death benefit at the end of a predetermined period of time, or term, or in the event of an earlier death.
These plans are considered to be a type of hybrid between Term Life Insurance and a Pure Endowment, meaning it is a combination of the two types of cover in equal amounts.
For Term Life clarification please see Hong Kong Term Life Insurance.
An Endowment is a contract which is only payable in the event that the life insured survives the term.
An endowment insurance plan will offer a settlement once the policy has been in force for a specific length of time or if the individual who is being insured dies. If the individual lives to see the end of the policy, or lives to a specific age, then the plan matures and provides the death settlement to the policyholder despite the fact that he has not died.
Because of the nature of an Endowment Life Insurance policy a claim is certain to happen under this plan, either by death (should the life insured die) or by maturity (should the life insured survive).
Because an Endowment Life Insurance plan must mature to allow the policyholder to survive the plan, the policy must state the total length of time it will take to reach maturity. In this sense an Endowment life insurance plan operates in much the same way as a term life insurance policy.
The term of an Endowment Life Insurance plan commonly last between 5 – 25 years.
The premiums of endowment life insurance are not low. This is due to the fact that a claim must happen under the policy and will eventually happen after a specified number of years (if not before). As such, premiums are typically level, being paid annually for consistent amounts over the course of the term. However, single premium endowment life insurance plans can also be found within the Hong Kong Insurance market.
Endowment life insurance can be obtained on a Participating or Non-Participating basis. This means that the policyholder can elect to share in the profits of the insurance provider and receive dividend payments.
If you would like to receive a free quote for Endowment Life Insurance in Hong Kong, simply complete the short form at the top of this page and select Life Insurance from the menu. You can read more about our quotation process by clicking Life Insurance Quotes in Hong Kong.
In the event that you have any questions about Endowment Insurance plans, or if you would like to explore additional life insurance options in Hong Kong, please Contact Us to speak with an advisor today!Print or Share