HONG KONG SAR - Media OutReach - 5 July 2022 - Hong Kong Life continues to provide innovative insurance products and services that cater the evolving needs of its diversified customers. The Company announces the launch of "Wealth Accelerator III", with enhanced benefits to the insured including the Extended Life Protection with Multiple Premium Payment Terms¹, the Flexible Withdrawal of Policy Value^2,3, and the special Wealth Succession Bonus⁴, to provide extra flexibility in legacy planning. With the first-in-market⁵Flexible Change of Life Insured⁶up to Two New Life Insureds, the life insurance plan allows customers to plan for long-term financial arrangements to spread the wealth across generations. In addition, application is simple and easy as no medical examination is required⁷. Customer Promotion Offers⁸：Up to 25% First Year Premium Discount & Multiple Member Jetso⁹ On top of the enhanced features of the insurance plan, from now till 31 December 2022, an instant 15% First Year Premium Discount is guaranteed with successful applications for the Wealth Accelerator Whole Life Protection Plan III, specified customers may even enjoy up to 25% First Year Premium Discount of Basic Plan¹⁰. Hong Kong Life also provides a wide array of promotional offers to its discerning customers. Customers can log on to the Client Corner(https://www.hklife.com.hk/en/clientcorner) to discover various exclusive Member Jetso⁹ to elevate their overall health and wellness, including a free weight and health assessment from MSL Nutritional Diet Centre, discount offers on pain relief treatments from BeHealth Painless Centre, health services from Zanolife and many more. Key Features of Wealth Accelerator Whole Life Protection Plan III：

• Extended Life Protection with Multiple Premium Payment Term¹ for selection
  The Plan provides 3 choices of Premium Payment Term¹, for example three years¹, six years¹ and twelve years¹, with extended life protection until age 130 of the Initial Life Insured. An enhanced feature is if the Policyowner chooses for a change of Life Insured², life protection will be extended to age 130 of the New Life Insured.
  

• Additional Return
  The Plan not only provides Guaranteed Cash Value, Annual Dividend (non-guaranteed)² may also be distributed annually in terms of cash starting from the second Policy Anniversary. You can choose cash withdrawal or leaving it with the Policy for interest accumulation² to meet your personal needs. In addition, Terminal Dividend (non-guaranteed)² may be payable on or after the end of fourth Policy Year when the Policy is fully surrendered by the Policyowner, upon the death of the Life Insured (provided that there is no named and surviving Contingent Life Insured who will become the new Life Insured) or upon Policy Maturity, whichever is earlier.
  
  When the Policy is partially surrendered by the Policyowner, Terminal Dividend (non-guaranteed)² may be payable on or after the end of fourth Policy Year. The payable amount is equal to the Terminal Dividend (non-guaranteed)³ attributable to the reduced portion of Principal Amount¹¹. Terminal Dividend (non-guaranteed)³ will not accumulate in the Policy.
  

• Flexible Change of Life Insured6 to Spread the Wealth across Generations
  While the Plan is in force and the Life Insured is alive, the Policyowner may change the Life Insured⁶ for unlimited times starting from the first Policy Anniversary as follows. This not only enables sufficient time for wealth accumulation but also adds flexibility to your financial arrangement to spread the wealth across generations.
  • Change of one Life Insured⁶
    The Guaranteed Cash Value, plus Accumulated Dividends and Interest (non-guaranteed)^2,3 (if any) will remain unchanged and continue to accumulate in the Policy till age 130 of the New Life Insured.
  • Change to two Life Insured⁶
    The Principal Amount¹¹ of the Policy will be converted into two new policies of the same Basic Plan in accordance with the portion as specified by the Policyowner. The Guaranteed Cash Value, plus Accumulated Dividends and Interest (non-guaranteed)^2,3 (if any) will be proportionally converted into the two new policies in accordance with the same portion as specified and continue to accumulate in the Policy till age 130 of the New Life Insured.
    

• Wealth Succession Bonus⁴ to Enjoy the Joy of Passing on Your Wealth
  To encourage you to outline your wealth succession planning, the Plan offers the Wealth Succession Bonus⁴. In the event of change of Life Insured be accepted and approved by Hong Kong Life while the Plan is in force, Policyowner will receive a one-off Wealth Succession Bonus⁴ which the amount equals to 1% of the Total Premiums Paid (subject to the maximum amount of HKD10,000/ USD1,250). The special bonus provides extra reward to policy owners for passing on their wealth.
  
• Contingent Life Insured¹² and Contingent Policyowner¹³ Arrangement for Policy Continuum
  During the...