January 24, 2025

YF Life Insurance International Ltd. (“YF Life”) announces the launch of its newly upgraded "YF Deferred Annuity 3". On top of the expanded options for payment, accumulation, and annuity periods, as well as Monthly Annuity Payments, this enhanced plan also includes lifetime annuity payouts options, providing customers with greater flexibility in retirement planning. The plan is certified by the Insurance Authority1 as a "Qualifying Deferred Annuity Policy (QDAP) 2", and eligible deferred annuity premiums paid are tax-deductible.

Ms. Jasmine Hui, Chief Proposition Officer at YF Life, said: "Retirement is an important stage of life, and early planning is more conductive to realizing the vision of an autonomous future. Therefore, we are launching the newly upgraded 'YF Deferred Annuity 3'. This plan inherits the advantage of its predecessor, providing Guaranteed and Non-guaranteed Monthly Annuity Payments. New lifetime annuity payout options have been added to the annuity period, creating a self-made long-term income stream, allowing customers to enjoy a stable monthly income and have a better budgeted retirement life. This product not only embodies our long-term commitment to our customers but also demonstrates our unremitting efforts in new product development and continuous improvement of customer satisfaction, striving to help customers autonomously plan a wonderful new chapter in retirement."

The "YF Deferred Annuity 3" is an annuity insurance plan that encourages citizens to make voluntary savings for retirement. With a short 5-year or 10-year premium payment terms, this plan provides a stable source of income with Monthly Annuity Payments. It provides a range of options, including a choice of accumulation period of 10, 20, or 30 years, choice of Annuity Period - fixed annuity periods of 10 or 20 years, or the lifetime of the insured, and choice of Monthly Annuity Payment Options. During the annuity period, customers can opt to receive both Guaranteed and Non-guaranteed Monthly Annuity Payments. Alternatively, they can opt to accumulate the Monthly Annuity Payments within the Policy at a non-guaranteed interest rate for future optional withdrawals, promoting continued wealth growth. While it requires no medical examination during application process, allowing a quick and convenient flow, customers are still provided with the "Accident Waiver of Premium Benefit" under the "YF Deferred Annuity 3".

Hong Kong taxpayers can apply for a tax deduction of up to HKD 60,000 per year for eligible deferred annuity premiums, reducing their tax burden. For more details, please visit the Inland Revenue Department's website at https://www.ird.gov.hk.

Remarks:

1. YF Deferred Annuity 3 has been certified by IA does not mean that the premiums paid for policies under the Plan are eligible for tax deductions. Certification by IA is only an indication that the product complies with the criteria set out by IA. The IA certification is not a recommendation or endorsement of the Plan or does it guarantee the commercial merits of the Plan or its performance. It does not mean the Plan is suitable for all Policy Owners nor is it an endorsement of its suitability for any particular Policy Owner or class of Policy Owners. The Plan has been certified by the IA but such certification does not imply official recommendation. The IA does not take any responsibility for the contents of the product brochure of the Plan, makes no representation as to its accuracy or completeness, expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of the product brochure of the Plan.
2. Please note that the Qualifying Deferred Annuity Policy (“QDAP”) status of YF Deferred Annuity 3 does not necessarily mean you are eligible for the tax deduction available for QDAP premiums paid. This product’s QDAP status is based on the features of the product as well as certification by the Insurance Authority (“IA”) and not the facts of your own situation. You must also meet all the eligibility requirements set out under the Inland Revenue Ordinance and any guidance issued by the Inland Revenue Department (IRD) of HKSAR before you can claim these tax deductions. The actual tax benefits of this policy would depend on your personal tax position and there might not be tax deductions benefits if you are not subject of salaries tax and personal assessment in the relevant year of assessment. Any general tax information provided is for your reference only, and you should not make any tax-related decisions based on such information alone. You should always consult with a professional tax advisor if you have any doubts. Please note that tax law, regulations or interpretations are subject to change and may affect related tax benefits including the eligibility criteria for tax deduction. We do not take any responsibility to inform you about any changes in the laws, regulations or interpretations, and how they may affect you. Further information may be found in IA’s website at www.ia.org.hk. For details of tax deduction, please refer to the website of the Inland Revenue Department: https://www.ird.gov.hk.
3. The information contained in this press release is intended as a general summary of information for reference only. For more details, please refer to relevant product brochures, promotion leaflets, and policy documents. The terms and conditions of the policy shall prevail. The product information in this press release does not contain the complete terms of the product, which are set out in the policy documents. Please refer to the main product brochure and policy terms and conditions, as well as the explanatory documents provided by your licensed insurance intermediary, to fully understand the details and complete terms and conditions regarding the mentioned definitions, fees, product features, exclusions, and compensation payment conditions related to the plan. For inquiries, please contact our customer service hotline: (852) 2533 5555.
4. This press release is intended for distribution in Hong Kong only and should not be construed as an offer or solicitation to sell or promote any YF Life products outside Hong Kong. YF Life shall not offer you any products nor promotions stated in the above if you are not in Hong Kong.
5. The information contained in this press release is not sufficient to serve as the basis for deciding to purchase any insurance product. Before purchasing any insurance product or making any insurance-related decisions, you should carefully consider your individual needs and seek advice and assistance from a licensed insurance intermediary to conduct a financial needs analysis and/or suitability assessment.

YF Life Insurance International Ltd. (“YF Life”) announces the launch of its newly upgraded "YF Deferred Annuity 3". On top of the expanded options for payment, accumulation, and annuity periods, as well as Monthly Annuity Payments, this enhanced plan also includes lifetime annuity payouts options, providing customers with greater flexibility in retirement planning. The plan is certified by the Insurance Authority as a "Qualifying Deferred Annuity Policy (QDAP) ", and eligible deferred annuity premiums pa