Rainbow Age Whole Life Plan

A comprehensive financial plan should not only enable you to enjoy reasonable returns for retirement life, chil-dren education funds or other financial objectives, but also provide a lifelong insurance protection. China Life In-surance (Overseas) Company Limited ("China Life (Overseas)") specially introduces Rainbow Age Whole Life Plan (“the Plan”) that may be a desirable choice for you.

Key Benefits:

Flexible payment term to fit your needs

Guaranteed cash coupons to accumulate your wealth

Annual dividends give you flexibility

Maturity Benefit

Life Protection for Your Peace of Mind

Free Accidental Death Benefit

Flexible payment term to fit your needs
Four Premium payment terms are available for you. You can select the Premium payment terms of 5 years, 10 years, 15 years or 20 years according to your own financial status so as to achieve your financial goals easily1.

Guaranteed cash coupons to accumulate your wealth
The Plan provides you with guaranteed cash coupons at the 5th, 10th, 15th and 20th Policy Anniversaries and the total amount payable throughout the whole Policy term is equivalent to 100% of the Sum Assured. You may withdraw the guaranteed cash coupons or leave them in your Policy account to earn interest. The prevailing accumulation interest rate is 4.5% p.a. (non-guaranteed)2,3.

Premium Payment Term


Cash Coupon Amount (based on the Sum Assured) / Policy Anniversary

5th Year 10th Year 15th Year 20th Year
5 50% 50% N/A N/A
10 35% 65% N/A N/A
15 25% 25% 50% N/A
20 15% 15% 15% 55%


Annual dividends give you flexibility
In addition to the guaranteed cash coupons and life protection, you can also receive the annual dividends3 (non-guaranteed) which are distributed by China Life (Overseas) on each Policy Anniversary whilst the Policy is in force. You can choose to receive the annual dividends3 (non-guaranteed) in cash or accumulate in your Policy account to earn interest until Policy Maturity. The prevailing accumulation interest rate is 4.5% p.a. (non-guaranteed)2,3.

Maturity Benefit
The Plan offers protection till age 100 of the Insured. You can receive a maturity benefit equivalent to Sum Assured, accumulated cash coupons with interest (if any) and accumulated dividends with interest (if any), less all Policy Indebtedness (if any) upon Policy Maturity.

Life Protection for Your Peace of Mind
In the unfortunate event of the death of the Insured while the Policy is in force, death benefit payable to Beneficiary will be equivalent to:
Sum Assured or the guaranteed Cash Value at the date of death of the Insured or accumulated Premium due and received less cash coupons paid (whichever is higher) + accumulated cash coupons with interest (if any) + accumulated dividends with interest (if any) - Indebtedness (if any).

Free Accidental Death Benefit
Within the Premium payment period, the Plan provides free accidental death benefit equivalent to the Sum Assured (with a maximum amount of up to HKD 2,000,000 / MOP 2,000,000 / USD 250,000). The accidental death benefit is only applicable to the Insured with issue age from 6 to 60 and the Insured is required to fulfill the designated occupation class and the relevant conditions. For exclusions of this benefit, please refer to the Policy Provisions.

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Product Brochure

Enrolment Terms

Issue Age From 15 days after birth to 70 years old
Policy Currency HKD, MOP or USD
Policy Term Up to age 100 of the Insured
Premium Payment Term 5 years, 10 years, 15 years or 20 years
Premium Payment Method Annually, semi-annually, quarterly, monthly
Minimum Sum Assured HKD 80,000, MOP 80,000 or USD 10,000
Maximum Sum Assured HKD 10,000,000, MOP 10,000,000 or USD 1,250,000



  1. If the reauired renewal Premium is paid by the Policyholder within the Grace Period, this policy shall continue to be in force. For details of the provisions, please refer to the Policy provisions issued by China Life (Overseas). If the Policy is lapsed or surrendered, the Policy Cash Value received by the Policyholder may be considerably less than the total amount of the Premium paid.
  2. If the Policyholder chooses to withdraw any guaranteed cash coupons or annual dividends (non-guaranteed), the guaranteed cash coupons and annual dividends withdrawn will no longer be accumulated as part of the Policy Cash Value nor death benefit.
  3. Annual dividends and interest are not guaranteed. The actual benefits and / or returns may be lower or higher than the estimates. China Life (Overseas) reserves the right to revise the annual dividends and rate of interest from time to time. The actual amount of annual dividends is subject to the overall performance of China Life (Overseas)’s participating business, including investment returns, operating expenses and claims, etc.
  4. The surrender value and death benefit are inclusive of the guaranteed and non-guaranteed amount.
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 Premiums 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 by us 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 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 provided that no claim has been made under it.The Company has the right to deduct the underwriting fees from the refund of any premiums paid.You must submit a written notice signed by you with the official copy of policy contract 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 calendar days after the delivery of the Policy or Notice of Policy Issuance (telling period) to you or your representative, 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 maybe insufficient 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 Insured passes away, (b) you do not pay the Premium within 31 days of the due date and the Policy has no Cash Value, or (c) the outstanding loan amount is equal to or exceeds the guaranteed Cash Value of the Policy.



This product brochure is for reference only and contains 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


Address: Alameda Dr. Carlos D’Assumpcao No. 263, 22 Andar A, B, K – P, Edif. China Civil Plaza, Macau

Email: pos_mo@chinalife.com.hk

Customer Service Hotline: 285 95519

Website: www.chinalife.com.mo


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