Elite†, Executive Savings Plan†, Flexible Growth Plan†, International Investment Account†, International Pension Plan†, International Savings Plan†, Premier†, Premier II†, Premier Investment Plan†, Premier Ultra†, Summit†, Summit II† and Zenith† (collectively, the ‘Schemes’) are investment-linked assurance schemes under Class C linked long-term business as defined in the Insurance Companies Ordinance. They are life insurance policies issued by Friends Provident International Limited (‘Friends Provident International’). They are not funds authorised by the Hong Kong Securities and Futures Commission (‘SFC’) pursuant to the Code on Unit Trusts and Mutual Funds. † These schemes are not available to new investors and are no longer marketed to the public in Hong Kong. All information about these schemes is only for existing policyholders.
The premiums you pay, after the deduction of any applicable fees and charges of your policy, will be invested by Friends Provident International in the ‘underlying funds’ corresponding to the investment-linked funds you selected and will accordingly go towards accretion of the value of your policy. Your policy value will be calculated by Friends Provident International based on the performance of the underlying funds corresponding to the investment-linked funds you selected from time to time and the ongoing fees and charges which will continue to be deducted from your policy value.
Note, however, that all premiums you pay towards your policy, and any investments made by Friends Provident International in the underlying funds corresponding to the investment-linked funds you selected, will become and remain the assets of Friends Provident International. You do not have any rights or ownership over any of those assets. Your recourse is against Friends Provident International only.
Due to the various fees and charges levied by Friends Provident International on your policy, the return on your policy as a whole may be lower than the return of the underlying funds corresponding to the investment-linked funds you selected.
The investment-linked funds available under the Schemes can have very different features and risk profiles. Some may be of high risk.
The Schemes are designed to be held for a long-term period. Early surrender or withdrawal of your policy may result in a significant loss of principal and bonuses awarded. Poor performance of underlying funds may further magnify your investment losses, while all charges are still deductible.
Credit and insolvency risks – The Schemes are insurance policies issued by Friends Provident International. Your investments are subject to the credit risks of Friends Provident International.
Foreign exchange risks – The investment returns of your policy may be subject to foreign exchange risks as some of the investment-linked funds may be denominated in a currency which is different from that of your policy.
Investment involves risks and the value of investments may go up as well as down. Investment returns are not guaranteed. Past performance should not be viewed as an indication of future performance.
You should not purchase any one of the Schemes unless you understand it and it has been explained to you how it is suitable for you. The final decision is yours. Friends Provident International strongly advises you to speak to your financial adviser before making any investment decisions.
Please do not rely on the information in this website alone. For details of the features, including risk factors, fees and charges, of the Schemes, please refer to their respective offering documents.