Wealth Grower Guaranteed Annuity Plan

The Wealth Grower Guaranteed Annuity Plan (“the Plan”) is not only a life insurance plan with savings element, it also offers guaranteed annuity payments until the Insured reaches the age of 100, helping you to realise your dreams with a stable income stream. In case a mishap occurs during the annuity payment period, the Beneficiary1 can still receive the remaining guaranteed annuity payments. This way, your financial arrangement will not be affected, ensuring your family has sufficient financial support.

Key Benefits:

Stable Income to Fund Your Future Plans

Short Payment Terms for Whole Life Coverage

Life Protection for Enhanced Legacy Planning

Simplified Underwriting Procedures

Stable Income to Fund Your Future Plans
The Plan offers you a guaranteed annuity payment equivalent to 100% of the Sum Assured on every Policy Anniversary before Policy maturity and at the Policy maturity. This way, even though you’ve already retired, you can still receive the amount until the Insured reaches the age of 100, securing a stable income to fund your future plans. The times of guaranteed annuity payment is 100 minus the issue age of the Insured.
The guaranteed annuity payment and/or non-guaranteed dividend is payable every year, you may either withdraw the amount immediately or keep it in the Policy to accumulate interest2 for a flexible financial arrangement.

Short Payment Terms for Whole Life Coverage
The Plan covers the Insured up to the age 100 and you only need to pay the Premium for 5 years. Alternatively, you can also prepay the Premiums3 to suit your financial plans.

Life Protection for Enhanced Legacy Planning
During the Premium payment term, if the Insured passes away, a death benefit equivalent to 101% of the Premium received (excluding the guaranteed annuity payments paid) or the guaranteed Cash Value at the date of death of the Insured, whichever is higher, will be payable to the Beneficiary. If there are any accumulated guaranteed annuity payments with interest, accumulated dividends with interest will also be paid in full, less all Indebtedness (if any). The Policy will be terminated thereafter. 
In the event the Insured passes away after the Premium payment term, all the accumulated guaranteed annuity payments, dividend (if any) and corresponding interests (if any) will be paid to the Beneficiary1 in a lump-sum, less all Indebtedness (if any). The remaining guaranteed annuity payments will continue to be paid to the Beneficiary, enabling you to meet your family's financial needs through your legacy. The guaranteed annuity payments that the Beneficiary is eligible to receive will be 100 less the issue age of the Insured and the number of instalments of guaranteed annuity payments paid until the death of the Beneficiary.  
The remaining guaranteed annuity payments will continue be paid to the Beneficiary during the annuity period as calculated above. In case the Beneficiary passes away, a lump sum of accumulated Premium received less the accumulated guaranteed annuity payments paid or the guaranteed Cash Value at the date of death of the Beneficiary (whichever is higher) plus accumulated dividends with interest (if any) and accumulated guaranteed annuity payments with interest (if any) less all Indebtedness (if any) will be paid to the inheritor of the beneficiary, and the Policy will be terminated thereafter.

Simplified Underwriting Procedures
Application is simple as medical underwriting is not required. 

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Product Brochure


Enrolment Terms

Issue Age From 15 days after birth to 65 years old
Policy Currency HKD or USD or MOP
Premium Payment Term 5 years
Benefit Term To age 100 of the Insured
Premium Payment Method Annual or Annual & Prepayment of Premium
Sum Assured (Guaranteed Annuity Payment)
HKD/MOP10,000 to HKD/MOP1,600,000 or
USD1,250 to USD200,000


Only one Beneficiary can be assigned in any time while the Policy is effective.
The dividends and interest are not guaranteed. The actual benefits and/or returns may be lower or higher than the estimates. China Life Insurance (Overseas) Company Limited (“China Life (Overseas)”) reserves the right to revise these from time to time. The Actual amount of dividends is subject to the overall performance of China Life (Overseas)’s participating businesses, including investment returns, operational expenses and claims, etc.
If customers opt for the Annual & Prepayment of Premium option, they can withdraw the unused prepaid Premium (including interest, if any) at one time and China Life (Overseas) will charge 2% of the withdrawal amount as withdrawal fee. The minimum fee will be HKD/MOP100 or USD12.5. Customers can withdraw the unused prepaid Premium once only. The interest rate of Prepayment of Premium is not guaranteed.

Important Information

This product brochure is for reference only. Please refer to the Policy documents for the complete definitions of the capitalised terms, as well as all the terms and conditions of this product. You are reminded to review all of the relevant product materials provided to you and to seek independent professional advice if necessary.


  1. The Policy is underwritten by China Life Insurance (Overseas) Company Limited (“China Life (Overseas)” or "us/we/our"). China Life (Overseas) is responsible for the features, underwriting and benefit payments under the Policy. You should fully understand all of the risks involved in this product and consider whether this product is affordable and suitable to you before making your application.


  1. China Life (Overseas) shall make the final decisions on the underwriting and claims. We shall rely on your submitted information to assess whether to accept or decline your application, and shall refund any Premium paid without interest for declined cases.


  1. Exclusions and Limitations - The information stated in this product brochure is for reference only. Please refer to the General Provisions for the exact terms and conditions and limitations such as incontestability, suicide and fraud etc. or all exclusions.


  1. Non-Payment of Premium / Automatic Premium Loan - You should pay Premium(s) on time according to the selected Premium payment schedule. If the due Premium remains unpaid upon the expiry of the Grace Period, an Automatic Premium Loan will be taken out against the Policy to settle the unpaid Premium automatically. All Policy Loans are interest-bearing and calculated at a rate (as stated on our corporate website www.chinalife.com.mo) to be declared byus from time to time. Interest accrued shall become a part of the Indebtedness. When the loan balance exceeds the guaranteed Cash Value of the basic plan of the Policy, the Policy will be lapsed and you will lose the related insurance coverage and suffer a financial loss. Under these circumstances, the Surrender Value of the Policy will be deducted to repay the outstanding loan balance (including interest), and the remaining value will be refunded to you.


  1. Dividend and/or Crediting Interest Philosophy - This is a participating and/or providing interest on accumulation insurance plan. Premiums received from the policies will be invested to a variety of assets according to China Life (Overseas)’s investment strategy. The surplus from the invested assets will be shared with Policyholder through declared dividends and/or interest rate on accumulation in accordance with the relevant clause in the benefit provision. China Life (Overseas) will ensure a fair sharing of profits among different groups of policyholders and also between policyholders and China Life (Overseas). China Life (Overseas) will review and determine the dividend and/or interest rate on accumulation at least once a year, the current projection on dividend and/or interest rate on accumulation are not guaranteed and subject to change with the entire performance of the relevant policies and the factor including but not limited to the investment returns, operating expense, claims experience, commission, persistency, past experience and future prospect. In addition, China Life (Overseas) will consider both past and future outlooks of all factors including but not limited to:

Claims – include the costs of providing death benefit as well as other benefits under the product(s).

Investment return – including the interest income, dividend income, outlook of interest rates and any changes in the market value of the product’s backing asset.

Expenses – including both direct expenses (e.g. commissions, underwriting, issue and premium collection expenses) and indirect expenses (e.g. general overhead expenses) related to the product.

Persistency – including policy lapse and partial surrender experience.


Note: The dividend or interest rate history is not an indicator of the future performance of this product.


  1. Investment Philosophy, Policy and Strategy - China Life (Overseas) aims to strive for minimizing volatility of the investment return and provides stable return as our investment philosophy. Assets are mainly invested in bonds and other fixed income instruments, such as government and corporate bonds and other fixed income instruments to support the guaranteed financial obligation. To enhance the performance of the investment portfolio, China Life (Overseas) invests in equity-type investments and other investment instruments such as mutual funds and direct / indirect investment in properties or commercial institutions.


The investment portfolio will be diversified across different geographic regions and /or industries. Investment strategy will be subject to change depending on the market conditions and the economic outlook. China Life (Overseas) will inform Policyholder the relevant changes in dividend and/or interest rate on accumulation and the impact to the policies when there is change in the investment strategy.


China Life (Overseas)’s current investment strategy on participating and/or providing interest on accumulation plans are as follow:

Asset Type

Target Asset Mix (%)

Bonds and other fixed income instruments

50% to 90%

Equity-type investment and other investments

10% to 50%



Please refer to China Life (Overseas) Company’s website www.chinalife.com.mo/en/Dividend-Philosophy-and-Investment-Strategy for dividend history, Dividend and/or Crediting Interest Philosophy, Investment Philosophy, Policy and Strategy, as well as the fulfillment ratio of China Life (Overseas).


  1. Cooling-off Right - You have the right to cancel the Policy within the Cooling-off Period and obtain a refund of any Premiums paid by giving written notice to us provided that you have not made any claims under the Policy. Such notice must be signed by you and submitted to China Life (Overseas) at Alameda Dr. Carlos D'Assumpcao No.263 22 Andar A,B,K-P,Edif. China Civil Plaza, Macau within 21 days after the delivery of the Policy or issue of a Notice to you or your representative informing you that the Policy is available, whichever is earlier.


What are the key product risks?

Credit risk:

This product is a life insurance Policy issued by China Life (Overseas). Any Premium paid will become part of our assets and our financial strength will affect our ability to meet our contractual obligations to you under the Policy. Therefore this product is subject to our credit risk.


Early surrender risk:

The savings component of the Plan is subject to risks and possible losses. Should you surrender the Policy early, you may receive an amount considerably less than the total amount of Premiums paid.


Exchange rate and Currency risks:

Any Policy with foreign currencies involves risks, such as potential changes in political or economic conditions that may substantially affect the price or liquidity of a currency. The fluctuations in exchange rates may also cause financial losses to you during currency conversions. You should consider the potential currency and exchange rate risks before deciding which Policy currency you should take.


Inflation risk:

The cost of living in the future may be higher than expected due to the effects of inflation. Therefore, your current planned benefits and/or returns maybeinsufficient to meet your future needs even if we fulfill all of our contractual terms and obligations.


Liquidity and Withdrawal risk:

You are obliged to hold the Policy and pay the Premium for the designated period of time. If you terminate the Policy prior to the Policy Maturity Date, you will suffer a financial loss. In case you make partial withdrawals from the Policy, your account value, death benefit and other Policy values will be reduced, and you may need to pay the relevant handling fee or charges (if any).


Non-guaranteed Benefit:

This Plan consists of non-guaranteed benefits and/or returns. The actual amounts of benefits and/or returns in the future may be different from the benefits and/or returns which project on the product materials.The product materials are for illustrative purposes only.


Policy Termination:

The Policy will be terminated if (a) the Policy lapses or is surrendered, (b) the Maturity benefit are fully paid, (c) the death benefit are paid, (d) you do not pay the Premium within 31 days of the due date and the Policy has no guaranteed Cash Value, or (e) the Indebtedness is equal to or exceeds the guaranteed Cash Value of the Policy.


This product brochure is for reference only andcontains descriptions of the key features of this product. For all the terms and conditions and exclusions of this product, please refer to the policy documents of this product. In the event of any ambiguity or inconsistency between the terms of this brochure and the policy documents, the Chinese version of the policy documents shall prevail.


This product brochure is for distribution in Macau only and shall not be construed as any provision of or offer to sell or solicitation to buy any insurance product outside Macau. China Life Insurance (Overseas) Company Limited ("China Life (Overseas)") does not provide or offer to sell any insurance product outside Macau. The above information is for reference only. The detailed terms, conditions and exclusions of the Plan are subject to the terms and conditions of the policy contract of the Plan. For a copy of the terms and conditions of the policy contract, please contact China Life (Overseas) for enquiry.


 China Life Insurance (Overseas) Company Limited (incorporated in the People's Republic of China with limited liability)