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Compare GlobalFlexi vs Rich Harvest: Match timing constraints before return paths
This compare GlobalFlexi vs Rich Harvest page uses official product pages, brochures, and regulatory documents across payment cadence, lock-in timing, conversion rules, liquidity tools, and regulatory boundaries. Core conclusion: execution first, return path second.
1-minute takeaways
- Budget first: Rich Harvest supports 2/5/10-year terms, while GlobalFlexi is single/5-year.
- Lock-in timing: Rich Harvest is “year 10 or premium expiry, whichever later”, while GlobalFlexi is after year 15.
- Conversion timing: Rich Harvest can switch from anniversary year 1 (once per policy year), while GlobalFlexi starts after year 2 with a 30-day post-year-end window.
- Split boundary: Rich Harvest split starts from anniversary year 1; GlobalFlexi requires both post-year-1 and post-premium-term conditions; split should be treated as low-reversibility for both.
- Return conclusion: Public evidence is asymmetric; normalized dual proposals are required.
- Promotion handling: Run promotion-stripped IRR comparison first, then model refunds/rewards as separate scenarios.
Six questions to answer before deciding
This step avoids the common pitfall of selecting first and rationalizing later.
Why it matters: Premium structure determines execution feasibility before IRR or breakeven can even be compared.
Check first: GlobalFlexi discloses one-time or 5-pay, while Rich Harvest discloses 2/5/10-pay. Filter by cash-flow capacity first.
Why it matters: If your target year is 10-14, lock-in start timing materially changes execution.
Check first: Rich Harvest lock-in starts from policy anniversary 10 or premium-expiry date (later one), while GlobalFlexi starts after policy year 15.
Why it matters: Currency-switch start affects education, migration, and multi-currency cashflow planning.
Check first: Rich Harvest starts from policy anniversary 1 and is once per policy year; GlobalFlexi starts after policy year 2 with a 30-day post-year-end window.
Why it matters: Rich Harvest offers premium holiday with feature constraints; no equivalent public premium-holiday mechanism is shown for GlobalFlexi.
Check first: Rich Harvest can be applied from policy year 2; up to 2 years (5-pay) or 4 years (10-pay), with no conversion/split/new loans during holiday.
Why it matters: GlobalFlexi has public illustration samples, but Rich Harvest lacks a normalized public IRR matrix. The asymmetry increases misjudgment risk.
Check first: Before signing, require dual proposals under matched assumptions with base and downside scenarios.
Why it matters: With financing, comparison becomes product terms plus loan cost plus collateral constraints.
Check first: HKMA requires financing to be presented separately from policy sales and highlights losses under higher rates and lower non-guaranteed returns.
Stage1b gap audit
Expose high-risk decision gaps first, then define concrete reinforcements.
| Gap | Observed issue | Reinforcement |
|---|---|---|
| Hero summary conflicted with evidence tables | The hero block previously stated Rich Harvest as single/3/5/10 and year-3 conversion/split, conflicting with brochures and downstream tables. | Hero summary now aligns to 2/5/10 payment, year-1 conversion/split, and the lock-in condition “year 10 or premium expiry, whichever later”. |
| AIA loan cap was previously marked as unknown | The prior version treated GlobalFlexi loan boundary as undocumented, while the brochure already discloses an up-to-90% cap with denominator definition. | Updated to denominator-specific caps: Rich Harvest up to 90% of guaranteed cash value; GlobalFlexi up to 90% of guaranteed cash value plus reversionary-bonus cash value (if any). |
| Operational-threshold density was insufficient | The old version mentioned lock/unlock availability but lacked execution thresholds (ratio bands and minimum transfer amounts). | Added lock/unlock ratio bands, minimum-amount thresholds, and premium-holiday applicability boundaries (not available for 2-pay). |
| Recent premium-financing supervisory findings were under-integrated | Previous content covered consumer guidance and the 2025 circular but missed 2024 IA-HKMA findings like loan-detail-first solicitation and IFS-PF execution defects. | Integrated 2024 joint-inspection findings into regulatory and risk sections, and added FNA/IFS-PF sequencing checks to the pre-sign checklist. |
Mid-step: get normalized dual proposals before comparing return claims
Before signing, lock currency, age, premium term, and budget cap, then request both proposals under the same assumptions with base/downside scenarios.
Key conclusions: conclusion-evidence-action chain
Each conclusion is source-linked with an explicit next action.
Evidence: GlobalFlexi is one-time/5-pay; Rich Harvest is 2/5/10-pay.
Implication: If you cannot accept 10-year payment, that Rich Harvest flexibility has no practical decision value.
Action: Lock affordable payment term first, then compare IRR and breakeven.
Evidence: Rich Harvest can lock in from year 10 or premium expiry (later one), while GlobalFlexi starts after year 15.
Implication: For users needing lock-in within years 10-14, Rich Harvest is often more time-executable.
Action: Document earliest lock-in year by payment term in proposal-level scenarios.
Evidence: Rich Harvest starts from year 1 once per policy year; GlobalFlexi starts after year 2 with a 30-day post-year-end window.
Implication: If your switch plan is in years 1-2, timing windows can determine feasibility.
Action: Put both windows in calendar workflows and prepare documents ahead of deadlines.
Evidence: Rich Harvest premium holiday applies only to 5-pay/10-pay (not 2-pay), and blocks conversion/split/new loans while reversionary-bonus face value is not declared.
Implication: You gain payment relief but may lose key execution options temporarily.
Action: Model post-holiday-trigger scenarios before signing to test if restrictions are acceptable.
Evidence: AIA public sample states up to 6.5% IRR by year 30 and breakeven as short as year 7 (5-pay), while Rich Harvest has no normalized public matrix.
Implication: Public pages can form hypotheses, not sign-off conclusions.
Action: Close the gap with normalized dual proposals and versioned documentation.
Evidence: GL30/GL29, illustration caps, IA-HKMA 2024 findings, and the 2025 HKMA circular all require separated PF disclosure and suitability-first assessment.
Implication: High-ticket cases should satisfy compliance, cashflow, and execution windows before return ranking.
Action: Complete this page’s due-diligence checklist before signing.
Evidence Table 1: core terms and features (16 dimensions)
Only first-source traceable points are included; version conflicts are explicitly marked.
| Dimension | YF Life Rich Harvest | AIA GlobalFlexi | Source |
|---|---|---|---|
| Product positioning | YF Prosperous Infinity Saver (Rich Harvest / Beyond Infinity) | AIA GlobalFlexi Savings Insurance Plan | S1, S4, S5 |
| Premium payment term | 2-pay / 5-pay / 10-pay | One-time / 5-pay | S2, S5 |
| Issue age (public disclosure) | 2-pay: 0-80; 5-pay: 0-75; 10-pay: 0-70 | One-time: 15 days-80; 5-pay: 15 days-75 | S2, S5 |
| Currency breadth | 10 currencies (USD/HKD/MOP/RMB/GBP/SGD/AUD/CAD/CHF/EUR) | 9 currencies (RMB/GBP/USD/AUD/CAD/HKD/MOP/EUR/SGD) | S2, S5 |
| Currency exchange start | From policy anniversary 1; up to once per policy year | After policy year 2; once per policy year (30-day post-year-end window) | S2, S5 |
| Bonus lock-in start | Policy year 10 or premium expiry date, whichever later | After policy year 15 (once per policy year) | S2, S5 |
| Bonus lock-in ratio band | Each lock-in is 5%-60% of latest bonus cash value, with minimum lock-in amount of USD1,250 (or equivalent) | Each lock-in is 10%-70% of latest bonus cash value | S2, S5 |
| Bonus unlock | Unlock available 1 year after lock-in; each unlock is 10%-100% with minimum amount USD1,250 (or equivalent) | Unlock available 1 year after lock-in; each unlock is 5%-100% | S2, S5 |
| Policy split start | From policy anniversary 1; up to once per policy year | Available after both conditions are met: post-year-1 and post-premium-term (later one) | S2, S5 |
| Change of insured | Available while policy is in force; publicly disclosed as repeatable | Available after policy year 1; repeatable subject to approval | S2, S5 |
| Premium holiday / payment buffer | Available from year 2; only for 5-pay/10-pay (not 2-pay); up to 2 years (5-pay) or 4 years (10-pay) | No equivalent publicly disclosed premium-holiday clause under the same naming | S2, S5 |
| Restrictions during premium holiday | No conversion/split/new loans; reversionary bonus face value not declared | Not applicable (no equivalent public premium-holiday clause) | S5 |
| Publicly disclosed policy-loan cap | Up to 90% of guaranteed cash value | Up to 90% of (guaranteed cash value + reversionary-bonus cash value, if any) | S2, S5 |
| Long-term target asset mix | Bonds and fixed-income 25%-100%; equity-like assets 0%-75% | Bonds and fixed-income 20%-100%; growth assets 0%-80% | S2, S5, S14 |
| Cooling-off | 21 days from policy/notice delivery (earlier one) | 21 days from policy/notice delivery (earlier one) | S2, S5, S8 |
| Public return disclosure | No normalized public IRR/breakeven matrix found | Press release sample: up to 6.5% IRR by year 30 and breakeven as short as year 7 (5-pay) | S3, S5 |
Evidence Table 2: execution constraints (high-risk points)
Feature availability does not guarantee executability; this table is for pre-sign risk elimination.
| Constraint | Rich Harvest | GlobalFlexi | Impact | Source |
|---|---|---|---|---|
| Direction of conversion window | From policy anniversary 1 (or after cooling-off, whichever later); once per policy year, generally within 30 days after each anniversary | Application must be filed within 30 days after policy-year end | Different window rules mean one reminder workflow cannot fit both plans. | S2, S5 |
| Lock-in / unlock ratio thresholds | Lock-in 5%-60%; unlock 10%-100%; minimum lock/unlock amount both at USD1,250 (or equivalent) | Lock-in 10%-70%; unlock 5%-100%; no fixed public minimum lock/unlock amount found | If planned transfer/unlock ratio or amount breaches thresholds, execution can fail and be delayed by a full policy year. | S2, S5 |
| Lock-in timing dependency on premium term | Year 10 “or premium expiry, whichever later” | Fixed at post-year-15 | In 10-pay mode, Rich Harvest lock-in can be deferred to premium completion. | S2, S5 |
| Premium-holiday applicability scope | Only available for 5-pay and 10-pay; not available for 2-pay | No equivalent publicly named premium-holiday mechanism | If you choose 2-pay, premium holiday cannot be used as a cashflow contingency tool. | S5 |
| Premium-holiday side effects | Feature freeze (conversion/split/new loan) plus paused bonus-face declaration | No equivalent named mechanism publicly disclosed | Cashflow relief may trade off key execution flexibility. | S5 |
| Cooling-off after policy split | No extra cooling-off arrangement is publicly shown for split policy | Split Policy cancellation right is not available under brochure wording | Split is a high-friction, low-reversibility action and needs pre-run checks. | S2, S5 |
| Loan-boundary transparency | Loan cap uses guaranteed cash value as denominator (up to 90%) | Loan cap uses guaranteed cash value plus reversionary-bonus cash value (if any) as denominator (up to 90%) | Both mention “90%” but with different denominators; direct substitution can misstate effective leverage. | S2, S5 |
| Illustration comparability | No normalized public IRR matrix; proposal evidence required | Public sample exists but is assumption-specific | Direct web-only comparison creates one-sided sample bias. | S3, S5, S9, S10 |
Evidence Table 3: key timeline map
A single map of when each action is executable to avoid timing mismatches.
| Time stage | Rich Harvest | GlobalFlexi | Decision hint | Source |
|---|---|---|---|---|
| Policy year 1 | Currency exchange and split become available, and Flexi Withdrawal instruction can be set (subject to terms) | Change-of-insured can be applied; split still waits for premium-term completion | If you need early-year currency or split actions, Rich Harvest generally opens execution windows earlier. | S2, S5 |
| Policy year 2 | Premium holiday can be applied for 5-pay/10-pay; not applicable to 2-pay | Currency-switch window starts (30 days after policy year-end) | If cashflow stress overlaps with FX needs, verify whether premium-holiday restrictions block the intended action. | S2, S5 |
| Policy year 5 | 5-pay completes here, but lock-in still waits until year 10 | 5-pay completes and Flexi Withdrawal can start (subject to terms) | Post-year-5 liquidity tooling differs significantly across the two plans. | S2, S5 |
| Policy year 10 | 2-pay/5-pay can enter lock-in window; 10-pay must satisfy the “whichever later” condition | Still not yet in bonus lock-in window | Users targeting year-10 lock-in must verify Rich Harvest premium-term condition first. | S2, S5 |
| Policy year 15 | Lock/unlock strategy can continue if previously activated | First entry into bonus lock-in window | In long-hold scenarios, GlobalFlexi starts lock-in management only from year 15. | S2, S5 |
| Policy year 30 (illustration window) | No normalized public IRR disclosure found | Press-release sample discloses up to 6.5% total IRR (non-guaranteed) | Year-30 comparison must rely on dual proposals, not one-sided public samples. | S3, S5 |
Evidence Table 4: return-disclosure boundaries
This table defines which return claims are supportable and which are not.
| Metric | Rich Harvest public data | GlobalFlexi public data | Boundary | Source |
|---|---|---|---|---|
| Public IRR sample | No normalized public IRR matrix found | Up to 6.5% total IRR by year 30 (illustrative, non-guaranteed) | Use as a sample signal only, not as a deterministic winner indicator. | S3, S5 |
| Breakeven illustration | No standardized public breakeven matrix found | 5-pay sample breakeven as short as year 7; one-time sample as short as year 5 | Sample outcomes are assumption-sensitive and require matched-parameter verification. | S3 |
| Downside / guaranteed boundary | No AIA-style guaranteed IRR disclosure found publicly | Press release indicates worst-case reference at guaranteed IRR 3.48% (30-year sample) | Comparisons should use aligned base-plus-downside assumptions, not optimistic values only. | S3 |
| Fulfillment-ratio methodology | Publicly discloses fulfillment-ratio / total-cash-value-ratio formulas and target asset mix; product-level values require item-by-item filtering | Publishes fulfillment-ratio assumptions (e.g., full premium payment, no withdrawals/loans) and notes that aggregate ratios may not represent individual policies | Fulfillment ratio is a historical execution signal, not an individual return guarantee; cases with withdrawals or policy loans are not directly comparable. | S13, S14 |
| Regulatory cap on illustrated rates | Point-of-sale illustrations are capped at 6.0% HKD / 6.5% non-HKD from 2025-07-01 | Subject to the same illustration-cap framework | Caps apply to sales illustrations, not actual policy return ceilings. | S9, S10 |
| Levy cost layer | Long-term policy levy is 0.1%, capped at HKD100 per policy year | The same IA levy framework applies | Levy is not dominant but should be included in all-in cost and breakeven modeling. | S6 |
| Financing net-return boundary | IA-HKMA findings and HKMA circular both warn that higher rates plus lower non-guaranteed returns can create negative carry and surrender loss | Equally exposed to repricing, assignment constraints, and tenor-repayment alignment requirements | In financed cases, run “loan rate +2% plus bonus downside” stress tests and confirm facility terms before product comparison. | S11, S12, S15 |
Evidence Table 5: current evidence gaps and closure path
Explicit uncertainty labeling prevents assumptions from becoming pseudo-facts.
| Gap topic | Current evidence | Why it matters | Next action | Status |
|---|---|---|---|---|
| Rich Harvest normalized IRR matrix | No public matrix under matched currency/age/payment assumptions | Without it, fair apples-to-apples comparison with GlobalFlexi samples is impossible. | Obtain dual proposals with version IDs and generation timestamps. | To be verified |
| GlobalFlexi lock/unlock minimum amount threshold | Lock/unlock ratio bands are disclosed, but no fixed public minimum lock/unlock amount is shown | For frequent small-size reallocation plans, missing minimum thresholds can break execution planning. | Request proposal-level confirmation for minimum lock/unlock transaction amount and increment unit. | To be verified |
| Rich Harvest year-by-year fulfillment ratio extractability | Public pages provide formulas and selectors, but automated extraction does not reliably export full yearly series | Without full yearly series, historical realization volatility cannot be mapped reliably into case-level stress tests. | Request advisor or customer service to export the full fulfillment-ratio table for the selected product and archive it in due-diligence package. | To be verified (no reliable public bulk dataset yet) |
| Rider continuity after currency exchange | Both indicate conversion may move into a new plan with feature adjustments | Rider changes can affect medical or income-protection setup. | Confirm retain/terminate/re-underwrite list in writing before conversion. | Written confirmation needed |
| Approval thresholds for split/change-of-insured | Public materials disclose timing starts but not full approval requirements | If approval fails, legacy execution may break at critical years. | Prepare a pre-clearance pack and obtain insurer confirmation before execution. | Pre-clearance required |
| Financing cost-change clause | HKMA discloses risks/standards, but facility-level terms vary materially | Rate or term changes can quickly alter net return and collateral-call risk. | Run dual stress tests (+2% rate + bonus downside) and predefine exit triggers before signing. | Mandatory before sign-off |
Evidence Table 6: regulatory guardrails (GL29/30 + Practice Note + IA-HKMA)
These are hard execution constraints, not optional background notes.
| Rule | Requirement | Impact | Action | Source date |
|---|---|---|---|---|
| GL30 Financial Needs Analysis (FNA) | FNA is mandatory for every new life-policy application and valid for 12 months from signing | Expired or inconsistent FNA breaks both comparability and compliance. | Verify FNA date, signatures, and parameter consistency with proposals first. | S7 |
| GL29 Cooling-off rule | Cooling-off is 21 days from delivery of policy or cooling-off notice, whichever earlier | Incorrect delivery records can invalidate cancellation-window planning. | Keep timestamped delivery proof and back-plan the deadline. | S8 |
| IA illustration-rate caps (Practice Note) | From 2025-07-01, point-of-sale illustrated IRR is capped at 6.0% (HKD) and 6.5% (non-HKD) | Legacy high-rate illustrations cannot be directly used for new-sales comparison. | Request point-of-sale proposal versions generated under the new regime. | S9 |
| IA clarification article (2025-03-30) | Illustration caps constrain point-of-sale projections, not actual policy returns | Client communication must show both illustration constraints and non-guaranteed volatility risk. | State explicitly that illustrated values are not actual outcomes. | S10 |
| HKMA premium-financing consumer guidance | Must disclose rate risk, non-guaranteed shortfall risk, and rights-assignment constraints | After financing, the risk profile becomes product-plus-lending, not product only. | Request IFS-PF and facility-term disclosure before deciding on leverage. | S11 |
| IA-HKMA joint-inspection findings (2024-06-27) | Joint findings reiterate: no PF solicitation before loan details are ascertained; IFS-PF should be completed before policy issuance; over-leverage risk must be assessed | If workflow is reversed (product first, loan/FNA later), compliance risk increases and proposal comparability degrades. | Enforce the sequence: confirm lending terms → complete FNA/IFS-PF → issue recommendation. | S15 |
| HKMA circular (2025-11-19) | Premium financing must be presented separately from policy arrangement and not as a return-enhancement tool; standards apply to new facilities from 2026-01-01 | Financing cases require standalone review of tenor, repayment profile, and customer affordability. | Keep financing assessment and product recommendation records separately, and log whether loan tenor matches policy objectives. | S12 |
| IA premium levy | Long-term policies pay 0.1% levy on premium, capped at HKD100 per policy year | Small but should still be included in all-in cost and breakeven analysis. | Include a levy line in quotation and cashflow sheets. | S6 |
Method and applicability boundaries
Clarifies what can be used directly and what needs proposal-level confirmation.
Data window: through 2026-03, using only first-party official sources (insurer pages, brochures, regulator documents/articles).
Comparison order: execution constraints first (payment/lock-in/conversion), return assumptions second (IRR/breakeven/realization).
Expression rule: all insufficient-public-evidence items are marked “to be verified”.
Use when you need a structured trade-off between GlobalFlexi and Rich Harvest.
Not for deterministic “which one will definitely return the most” answers.
Minimum supplement: dual proposals + stress tests + version verification.
Evidence Table 7: risk matrix
Risk only has value when translated into executable mitigation steps.
| Risk | Trigger | Impact | Mitigation |
|---|---|---|---|
| Lock-in year mismatch | Treating both plans as lock-in-ready at year 10 | For years 10-14 goals, GlobalFlexi may not execute the intended lock-in strategy. | Confirm earliest lock-in year case by case by payment term. |
| Incorrect conversion timing judgment | Ignoring different conversion start points and application windows | Missing windows can delay financial plans by one policy year. | Build separate calendar tracks for Rich Harvest and GlobalFlexi. |
| Premium-holiday feature freeze underestimated | Treating premium holiday as simple payment deferral | During holiday, conversion/split/new-loan are blocked, affecting legacy and liquidity planning. | Stress-test key actions under a premium-holiday state before signing. |
| Incorrectly assuming premium holiday for 2-pay | Applying 5-pay/10-pay premium-holiday rules to 2-pay cases | Cashflow contingency is overstated, increasing forced-surrender risk under volatility. | For 2-pay plans, build stress scenarios with non-holiday tools first (withdrawal/reallocation/external cash buffer). |
| Negative carry under financing | Higher loan rates or lower non-guaranteed returns | Net return deteriorates and may trigger top-up or forced exit. | Run dual stress tests (+2% rate + lower bonus) with predefined exit triggers. |
| Incomplete evidence chain | Using public pages only without dual proposals | IRR/breakeven comparison becomes non-reproducible and decision quality drops. | Include proposal version ID, generation date, and scenario parameters in the minimum evidence package. |
| Loan-boundary misinterpretation | Ignoring denominator differences behind the “90% cap” (GCV vs GCV plus reversionary-bonus cash value) | Financing models become inaccurate due to wrong base assumptions. | In normalized proposals, align and compare borrowing denominator, rate terms, and termination triggers together. |
| Incorrect sequencing in PF process | Product recommendation is made before loan details or IFS-PF/FNA completion | Raises regulatory/complaint risk and distorts comparison parameters. | Enforce and document the sequence: loan terms → FNA → IFS-PF → recommendation. |
Action guidance by scenario
Do not ask “which is best” first; ask “which fits my constraints best”.
First step: Run normalized dual proposals for GlobalFlexi (one-time/5-pay) and Rich Harvest (2/5-pay) first.
Why: Both can complete funding within five years, but lock-in and conversion tempo differ afterwards.
Watchouts:
- Do not start with IRR; start with execution capability in years 10-15.
- Confirm conversion windows against your cross-border funding timeline.
First step: Validate Rich Harvest lock-in start under your payment term first, then test GlobalFlexi as alternative path.
Why: GlobalFlexi lock-in opens only after year 15, creating a naturally longer timeline.
Watchouts:
- For 10-pay Rich Harvest, the “whichever later” condition prevents automatic year-10 lock-in.
- Lock-in credited rates are non-guaranteed and require downside modeling.
First step: Assess Rich Harvest premium-holiday sufficiency first, then validate whether restrictions are acceptable.
Why: Payment buffering is not only deferment; it also affects critical policy operations.
Watchouts:
- Planned conversion and split actions may become unavailable during holiday period.
- If you choose 2-pay, premium holiday is unavailable and you need alternative buffers (withdrawal/external liquidity).
First step: Finish financing affordability and stress testing before product-term optimization.
Why: With financing, key variables become net return and collateral-call risk.
Watchouts:
- Obtain loan-to-own-resources disclosure and rate-reset clauses.
- Enforce the sequence “loan terms → FNA → IFS-PF → recommendation” to avoid workflow inversion.
Minimum executable pre-sign checklist (copy to advisor)
- Lock comparison assumptions: same currency, issue age, and payment term.
- Obtain dual proposals for GlobalFlexi and Rich Harvest with version IDs.
- Run at least base and downside return scenarios.
- Verify Rich Harvest lock-in timing by payment term, including the “whichever later” condition.
- Confirm GlobalFlexi post-year-15 lock-in window and application timing.
- Set separate conversion reminders for Rich Harvest and GlobalFlexi.
- If using Rich Harvest premium holiday, model execution paths under feature freeze first.
- Confirm premium-holiday applicability: not for 2-pay, only for 5-pay/10-pay.
- Validate denominator definitions behind each “90% loan cap” (GCV vs GCV plus reversionary-bonus cash value).
- Verify lock/unlock ratio bands and minimum-amount requirements to avoid failed operations.
- Run pre-split parameter dry checks and confirm post-split no-cooling-off handling.
- GL30 documentation must be in validity and aligned with proposal parameters.
- Record policy/notice delivery and back-plan the 21-day cooling-off deadline.
- Include IA levy (0.1% / HKD100 cap) in cashflow sheets.
- For financing cases, confirm lending terms first, then complete FNA and IFS-PF before recommendation.
- Financing cases must run dual stress tests (+2% loan rate + lower bonus assumptions).
- Set evidence deadlines for every “to be verified” item.
- Sign only after blocker/high items are cleared.
Frequently asked questions (14)
Focused on real decision questions, not glossary filler.
Sources and update policy
All key conclusions are traceable and time-sensitive items include dates.
- S1 | AIA GlobalFlexi product page
Used for: Product positioning, feature index, and official document entry
Date: retrieved 2026-03-04
- S2 | AIA GlobalFlexi official brochure (EN)
Used for: Payment terms, conversion window, lock/unlock, split, change-of-insured, and risk clauses
Date: retrieved 2026-03-04 (document code PTA001386.0725)
- S3 | AIA press release (2025-07-08)
Used for: GlobalFlexi public sample on breakeven and year-30 IRR
Date: published 2025-07-08, retrieved 2026-03-04
- S4 | YF Life Prosperous Infinity Saver product page
Used for: Product positioning and public-document entry points
Date: retrieved 2026-03-04
- S5 | YF Life BIS-SC official brochure
Used for: Payment terms, currency exchange, lock/unlock, premium holiday, split, change-of-insured, loan, cooling-off
Date: retrieved 2026-03-04
- S6 | IA levy page
Used for: Levy rate and cap for long-term policies (0.1% / HKD100)
Date: retrieved 2026-03-04
- S7 | IA GL30 (FNA)
Used for: Mandatory FNA requirement and 12-month validity period
Date: retrieved 2026-03-04
- S8 | IA GL29 (cooling-off)
Used for: 21-day cooling-off trigger logic
Date: retrieved 2026-03-04
- S9 | IA Practice Note (2025-02-28)
Used for: Illustration-rate caps and effective date
Date: issued 2025-02-28, effective 2025-07-01
- S10 | IA article (2025-03-30)
Used for: Official clarification that illustration caps are not actual return caps
Date: published 2025-03-30, retrieved 2026-03-04
- S11 | HKMA premium-financing guidance page
Used for: Rate risk, non-guaranteed return risk, assigned-right constraints, and leverage ratio disclosure expectations
Date: last revised 2024-01-24
- S12 | HKMA circular (2025-11-19)
Used for: Conduct boundary for premium-financing sales and 2026-01-01 applicability
Date: issued 2025-11-19, effective for new facilities from 2026-01-01
Fallback: Fallback entry: HKMA premium-financing guidance page
If the BRDR direct PDF link is unreachable in some networks, search HKMA BRDR with reference 20251117-1-EN.
- S13 | AIA participating fulfillment-ratio page
Used for: Fulfillment-ratio assumptions, aggregate-level boundary notes, and reporting-year-2024 note
Date: retrieved 2026-03-04 (reporting year note: 2024)
- S14 | YF Life investment strategy / fulfillment-ratio information page
Used for: Fulfillment-ratio and total-cash-value-ratio formulas, target asset-mix ranges, and disclosure boundaries
Date: retrieved 2026-03-04
- S15 | IA-HKMA joint-inspection circular (2024-06-27)
Used for: Joint PF inspection findings, IFS-PF execution expectations, over-leverage definition, and sequencing requirements
Date: issued 2024-06-27, retrieved 2026-03-04
Methodology & Sources
E-E-A-T notes: methodology, sources, and author details.
Methodology
We normalize by currency, payment term, and sample age using official brochures/proposals. IRR and returns are illustrative (non-guaranteed) and used for relative comparison only.
Authoritative Sources
- Insurance Authority (HK) Annual Report
- Insurance Authority (HK) Statistics
- AIA Hong Kong
- Manulife Hong Kong
- Prudential Hong Kong
- FWD Hong Kong
- Sun Life Hong Kong
For other insurers, please refer to their official sites and latest product materials.
Author
Author: Su Jiang (GXBIBI research team). Content is based on public materials and policy terms.
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Calibration note: first-party official sources are prioritized; unsupported items are marked as “to be verified”.