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01 A major long-term savings and investment company operating around the globe

03 Fortuity

04 Definitions

06 Key Features of Fortuity 06 Choice of Currencies 06 Minimum Contribution and Additional Contribution 07 Contribution Allocation 07 Diversify Your Investment in Global Markets 08 Partial Withdrawal 09 Surrender 09 Death Benefit 10 Policy Termination 1 1 Policy Maturity 1 1 Monthly Bonus

12 Fees and Charges

19 General Information 19 Application 19 Plan Ownership 19 Currency and Place of Payment 19 Cancellation of Notional Units 19 Changed Circumstances 20 Borrowing Restrictions 20 Deduction of Debts 20 Exchange Rates 20 Incontestability 20 Switching of Investment Choices 20 Valuation of Investment Choices 21 Exceptional Circumstances 21 Closure of Investment Choice 21 Rounding 21 Cooling-off Period 22 Applicable Law and Jurisdiction 22 Geographical Limits 22 Taxation 22 U.S. Foreign Account Tax Compliance Act 23 Authorisation 23 Responsibility 23 Statement 23 Plan Underwriter

By partnering with independent financial advisers and other financial institutions, we provide long term savings and investment solutions to help customer accumulate wealth and reach their financial goals.

Fortuity 01

Established in 1825, Standard Life plc is a leading provider of long term savings and investments to around six million customers worldwide. Headquartered in Edinburgh, Standard Life has around 8,500 employees internationally. The Standard Life group of businesses include savings and investments businesses, which operate across the UK, Canada, Europe, Asia and the Middle East; workplace pensions and benefits businesses in the UK and Canada; Standard Life Investments, our global investment management company; and its Chinese and Indian joint venture businesses.

At Standard Life, we see Asia and the emerging markets as a key focus for our business growth, and we are committed to building a leading retail savings and investments business across the region. Our footprint in Asia and Emerging markets includes Hong Kong, Singapore and the Middle East.

Standard Life (Asia) Limited has had presence in Hong Kong since 1999 and is committed to Hong Kong and the North Asia region.

All figures at 30 September 2014

A major long-term savings and investment company operating around the globe

02 Fortuity Fortuity 03

Published Date: January 2015

“Fortuity” (hereafter, the “Plan” or “Policy”) is a Class C linked long-term insurance policy as defined in Part Two of the First Schedule to the Insurance Companies Ordinance. The Policy is an investment-linked assurance scheme issued by Standard Life (Asia) Limited (hereafter, “Standard Life” or “we” or “us” or “our” or “the Company”) as an authorised insurance company in Hong Kong in accordance with the Insurance Companies Ordinance.

This product brochure and the “Investment Choices Brochure” constitute the Principal Brochure of the Plan. The Principal Brochure together with the Product Key Facts Statement constitute as offering document for the Plan. These materials are issued by the Company and should be read in conjunction with each other. It is important that you should carefully read the Principal Brochure and the Product Key Facts Statement of the Plan, before making an investment decision. You may also refer to the sample policy provisions, which are made available by us upon request, free of charge, for the terms and conditions of the Plan. Please keep this product brochure with your other policy documents of the Plan. If you have any doubt about whether the Plan is suitable for you, please seek advice from an independent financial adviser.

You can have direct access to the Principal Brochure, customer notice, unit price of the investment choices, performance of the investment choices and the offering documents of the underlying funds available under the Plan through our secure website: www.standardlife.hk or contact our Customer Service Hotline. You will enjoy our professional customer service care that has made Standard Life internationally recognised.

For more information or any complaints and enquiries, or if you wish to inspect or obtain a copy of the constitutive documents of the Policy, please contact your financial adviser or contact:

The Customer Service ManagerStandard Life (Asia) Limited40/F, Tower 1, Times Square1 Matheson Street, Causeway BayHong KongTelephone: (852) 2169 0300Fax: (852) 2169 0220Email:[email protected]

from Monday to Friday, 9:00am to 5:30pm.

Investment in this product involves risks and may incur significant loss, as it does not provide a guarantee to your capital or return. Past performance is not indicative of future performance.

Fortuity


Definitions

Terms in this product brochure which are capitalised shall have the meanings set forth below. Any term, whether used in plural or singular form, shall have the same meaning.

Additional Contribution is a single top up contribution subsequent to your Initial Contribution and made at your choice.

Additional Contribution Account means a notional account set up for book-keeping purpose to record the allocation of the Additional Contribution to your investment choice(s).

Initial Contribution means the contribution you paid at the outset to start your Policy.

Initial Contribution Account means a notional account set up for book-keeping purpose to record the allocation of the Initial Contribution to your investment choice(s).

Policy Account is a notional account set up for book-keeping purpose to record the allocation of Initial Contribution and Additional Contributions (if applicable) to your investment choice(s).

Policy Account Value is the value of your Policy Account and will be determined according to the number of notional units of investment choice(s) held in the Policy Account multiplied by the respective bid price of the investment choice, net of applicable underlying fund charges and ongoing fees and charges (if any).

Policy Currency means the currency shown in the Policy Schedule, in which ‘HKD’ means HK Dollar, ‘USD’ means US Dollar, ‘GBP’ means Pound Sterling, ‘JPY’ means Japanese Yen and ‘EUR’ means Euro.

Policy Month means a recurring month which recurs in the pattern of every month while this Policy remains in force and which starts to recount from the same day of each following month as that of the policy start date. If the start date of any Policy Month falls on a non-Hong Kong business day, that start date will be deemed to fall on the next Hong Kong business day. This does not however affect the start date(s) of any other Policy Month unless the same situation arises.

Policy Schedule means the document which provides a summary of your insurance application and is attached to the Policy after its issuance. The Policy Schedule forms part of the Policy.

Underlying Fund Business Day means, in relation to an investment choice which invests in underlying fund, each day in which shares or units in that underlying fund are valued and may be issued or redeemed.

Valuation Day, in respect of an investment choice(s), means each day which is a Hong Kong business day and (if relevant) an Underlying Fund Business Day.


Key Features of Fortuity

The Plan is a single contribution, investment-linked insurance policy that provides a variety of investment choices with the performance linked to the underlying funds managed by investment managers.

Choice of Currencies The Plan offers five Policy Currencies for your selection: Hong Kong Dollars, United States Dollars, Euro, Pounds Sterling and Japanese Yen.

Please note that the investment returns of your Policy may be subject to foreign exchange risks as some of the investment choices you have selected and/ or the assets of their underlying funds may be denominated in a currency which is different from that of your Policy. If you are investing in non-local currency, you may be subject to the risk of exchange rate fluctuations.

Minimum Contribution and Additional ContributionYou can start your Policy at a minimum of HKD80,000 (or other Policy Currencies as set out in the table below) as Initial Contribution.

After you’ve started up the Policy, you can, before age 61 (as of the last birthday) of the youngest life insured and all policy owners, make Additional Contribution(s) at a minimum of HKD20,000 (or other Policy Currencies as set out in the table below) for each Additional Contribution(s).

The Initial Contribution made at the outset and any Additional Contributions made are subject to the minimum contribution requirement as outlined below:

Initial Contribution

Additional Contribution(s)

80,000

20,000

10,000

2,500

10,000

2,500

6,666

1,666

1,300,000

325,000

GBPEURUSDMinimum contribution requirement HKD JPY

Your Initial Contribution will be used to set up the Initial Contribution Account and any Additional Contribution(s) will be used to set up individual Additional Contribution Account(s). The relevant fees and charges will be applied on an individual account basis.

Contribution AllocationYour contributions, after deducting the relevant fees and charges (if applicable), will be used for the allocation of notional units of investment choices available under the Policy. We will use the offer price of the investment choices for allocation of notional units of investment choices to your Policy Account on the Valuation Day immediately following the later of the day upon which (1) the Company receives your contribution(s) in cleared funds or (2) our internal processing of your payment is completed (processing time may vary depending on different payment methods). For details of the offer price of the investment choices, please refer to “Valuation of Investment Choices” section.

You may determine the allocation of each of your contributions when you made the contribution, provided that your allocation:(1) specifies a whole number percentage

allocation for each investment choice in which you wish to invest; and

(2) allocates to each investment choice not less than 10% of your contributions; and

(3) the total allocation percentage must equal to 100%.

The allocation of units of investment choices to the Policy is notional and is solely for the purpose of determining the Policy Account Value. All contributions you pay towards the Policy, and any investments made by the Company in the underlying funds you selected, will become and remain the assets of the Company. You do not have any legal or beneficial rights or ownership over any of those assets. Your recourse is against the Company only.

Diversify Your Investment in Global MarketsThe Plan offers a range of investment choices.

We will be investing your contributions, after deducting the applicable fees and charges, into the underlying funds corresponding to the investment choices as selected by you for our asset liability management. You should be reminded that you are not investing in the underlying funds and you do not have any legal or beneficial rights or ownership over any of those assets. Your recourse is against the Company only. Therefore, you will be subject to the credit risks of the Company.

The return on investment of your investment choices is calculated or determined by us with reference to the performance of the underlying funds. Hence, we will rigorously select the appropriate investment managers and underlying funds in the platform and regularly refresh the investment choices. You may visit our website www.standardlife.hk for the latest investment choices available in the “Investment Choices Brochure” or speak to your financial adviser directly.

The investment choices available under the Plan can have very different features and risk profiles. Some may be of high risk. Please refer to the “Investment Choices Brochure” and the offering documents of the underlying funds, which are available from Standard Life upon request, for details of the underlying funds including, without limitation, their investment objectives and policies, risk factors and charges.

The return of investment under the Plan, subject to the fees and charges of the Plan, may be lower than the return of the underlying funds. For more information, please refer to the “Fees and Charges” section.

Partial WithdrawalYou have the option to partially withdraw money from your Policy Account (i) on an ad hoc basis or (ii) regularly on an annual, semi-annual, quarterly, or monthly basis.

Any ad hoc or regular withdrawals (on annual mode) are subject to the following minimum withdrawal amount:

In respect of non-annual mode withdrawal, the minimum withdrawal amount requirement is divided by 12, 4 and 2 for monthly, quarterly and semi-annual withdrawal respectively.

Partial withdrawal from Initial Contribution Account and each Additional Contribution Account (if any) will be subject to Exit Charge which is determined on an individual account basis if:(1) the partial withdrawal is made from the relevant account before the 60th month since the

effective date of that account; and(2) the value of the relevant account immediately after the partial withdrawal is less than 50% of

the original contribution amount made to that account.

Your Policy will be terminated and you will be deemed to have applied for the surrender of your Policy if the Policy Account Value immediately after a partial withdrawal is less than the minimum policy account value (the “Minimum Policy Account Value”) as specified below:

Exit Charge will be applied upon the surrender of your Policy before the 60th month since the effective date of the relevant Initial Contribution Account and each Additional Contribution Account (if any). Please refer to Exit Charge under “Fees and Charges” section for illustration examples and more information. Your Policy will not be terminated if the Policy Account Value subsequently drops below the Minimum Policy Account Value requirement due to market movements or deduction of fees and charges while the Policy Account Value remains above zero.

Please note that partial withdrawal(s) made from the Policy will not reduce the Establishment Fee as well as the Exit Charge for any subsequent partial withdrawal(s) and surrender of Policy as their calculations are based on the original contribution amount made to the relevant account(s).

We reserve the right to vary the requirement of the Minimum Policy Account Value with not less than one month’s prior written notice or such other period of notice in compliance with the relevant regulatory requirements.

When you submit a partial withdrawal request, you have to specify the percentage or amount of each Investment Choice to be redeemed or deducted and from which account(s) for each withdrawal request.

The effective date of withdrawal application will be the Valuation Day immediately following the date on which we receive your valid request for such withdrawal. The Company will pay the amount of any withdrawal less applicable Exit Charge in the Policy Currency within 15 Hong Kong business days after the Valuation Day (according to the latest Valuation Day of the investment choices under the relevant account) immediately following the effective date of such withdrawal. No interest is payable in respect of the period between the effective date of withdrawal and the date of payment.

You should be reminded that the Policy is a long term insurance contract. It may not be suitable for those investors who are seeking short term financial gains. Any withdrawal may be subject to Exit Charge and may result in a significant loss of your principal. Poor performance of the underlying funds may further magnify your investment losses while all charges are still deductible.


HKD USD EUR GBP JPY

2,000 250 250 166 32,500

Death BenefitThe Plan offers life coverage on a single life or joint life basis to provide your family with more assurance, comfort as well as more long term protection. If the Policy has named two lives insured and one of the lives insured dies, the life protection will still continue for the last surviving life insured.

The death benefit will be 105% of the Policy Account Value at the death of the last surviving life insured.

Although your Policy is a life insurance policy, because your death benefit is linked to the performance of the underlying funds corresponding to the investment choice(s) you selected from time to time, your death benefit is subject to investment risks and market fluctuations. The death benefit payable may be significantly less than your contribution paid and may not be sufficient for your individual needs.

¬Suicide ClauseIf the last surviving life insured commits suicide, whether sane or insane and the relevant payment(s) of Initial Contribution/ any Additional Contribution is(are) made for less than 12 months prior to the date of death of the last surviving life insured, our liability under the Policy with respect to that relevant payment(s) of Initial Contribution/ any Additional Contribution will be limited to the original contribution amount made to the relevant Initial Contribution Account and Additional Contribution Account (if any) less any withdrawals from that account and a market value adjustment charge to cover any investment loss resulting from realising the value of any assets acquired through our investment of that contribution paid at that time.

SurrenderYou may request to surrender your Policy while it remains in force by completing a prescribed form which can be obtained from the Company, and send it to the Company. The surrender value of the Policy is your Policy Account Value less the applicable Exit Charge of up to 4.91667% of the original contribution made to that account. Please note that partial withdrawal(s) made from the Policy will not reduce the Exit Charge for surrender of Policy as the calculation is based on the original contribution amount made to the relevant account. Details of Exit Charge are outlined in the “Fees and Charges” section.

If the Policy Account Value immediately after a partial withdrawal is less than the Minimum Policy Account Value, your Policy will be terminated and you will be deemed to have applied for the surrender of your Policy. Exit Charge will be applied upon the surrender of your Policy before the 60th month since the effective date of the relevant Initial Contribution Account and Additional Contribution Account (if any). Your Policy will not be terminated if the Policy Account Value subsequently drops below the Minimum Policy Account Value due to market movements or deduction of fees and charges while the Policy Account Value remains above zero.

The effective date of surrender will be the Valuation Day immediately following the date on which the Company receives your valid written request for such surrender. Your Policy will automatically terminate on the effective date of surrender. The Company will pay out the surrender value of your Policy within 15 Hong Kong business days after the Valuation Day (according to the latest Valuation Day of the investment choices under the Policy Account) immediately following the effective date of such surrender. No interest is payable in respect of the period between the effective date of surrender and the date of payment.

The Policy is a long term insurance contract. It may not be suitable for those investors who are seeking short term financial gains. Any early surrender may be subject to Exit Charge and may result in a significant loss of your principal. Poor performance of the underlying funds may further magnify your investment losses while all charges are still deductible.

HKD USD EUR GBP JPY

20,000 2,500 2,500 1,666 325,000

Fortuity 11

Policy TerminationThis Policy will automatically terminate on the earliest of the following:(1) the policy anniversary on or immediately

before the 100th birthday of life insured (or the younger (by age) life insured for joint life policy) (i.e. maturity of the Policy); or

(2) the proceeds of death benefit is paid; or(3) the Policy Account Value, immediately

after a partial withdrawal is less than the Minimum Policy Account Value in effect at the time (for the avoidance of doubt, the Policy will not be terminated if the Policy Account Value subsequently drops below the Minimum Policy Account Value due to market movements or deduction of fees and charges while the Policy Account Value remains above zero); or

(4) the Policy Account Value becomes zero; or(5) the effective date of surrender (under

situation (3) in this section, you will be deemed to have applied for the surrender of your Policy).

The situations (3) and (5) above will be subject to applicable Exit Charge.

Monthly BonusWhile your Policy remains in force, Monthly Bonus is awarded on a monthly basis if your Policy Account Value at the due date of Administration Charge is of at least HKD960,000 (or other Policy Currencies equivalent as set out in the table below). The amount of Monthly Bonus is determined by applying the applicable Monthly Bonus rate on the Policy Account Value. The applicable Monthly Bonus rate depends on the Policy Account Value as set out in the table below.

At the due date of Administration Charge, Monthly Bonus (if any) will be applied as a reduction to the Administration Charge on a monthly basis. Administration Charge after the reduction of relevant Monthly Bonus (if any) will be deducted on a monthly basis from the Initial Contribution Account and each Additional Contribution Account (if applicable) by redeeming the appropriate number of notional units of each investment choice at the beginning of each Policy Month in proportion to the value of that investment choice in the Initial Contribution Account and each Additional Contribution Account (if applicable). For details on Administration Charge, please refer to the “Fees and Charges” section.

The Monthly Bonus will not be clawed back once offered at the due date of the Administration Charge.

Please note that the rate of Monthly Bonus does not represent the rate of return or performance of your investment.

120,000 – less than 240,000

240,000 – less than 360,000

360,000 – less than 480,000

480,000 or above

960,000 – less than 1,920,000

1,920,000 – less than 2,880,000

2,880,000 – less than 3,840,000

3,840,000 or above

0.05% per annum (0.00417% per month)



0.20% per annum(0.01667 per month)

Policy Account Value Monthly Bonus rate per annum

120,000 – less than 240,000

240,000 – less than 360,000

360,000 – less than 480,000

480,000 or above

80,000 – less than 160,000

160,000 – less than 240,000

240,000 – less than 320,000

320,000 or above

15,600,000 – less than 31,200,000

31,200,000 – less than 46,800,000

46,800,000 – less than 62,400,000

62,400,000 or above

JPYGBPEURUSDHKD

Policy MaturityWhile the Policy remains in force, it will become mature at the policy anniversary on or immediately before the 100th birthday of the life insured or the younger life insured for joint life policy (“Policy Maturity Date”). The Company will determine your Policy Account Value at the Policy Maturity Date and pay you the Policy Account Value in the Policy Currency within 15 Hong Kong business days after the Valuation Day (according to the latest Valuation Day of the investment choices under the Policy Account) immediately after the Policy Maturity Date. No interest is payable in respect of the period between the Policy Maturity Date and the date of payment.

¬Death Benefit PaymentWhile the Policy remains in force at the time of the last surviving life insured’s death and the Company have received satisfactory proof of the last surviving life insured’s death, the Company pay out the proceeds of death benefit in the Policy Currency to the nominated beneficiary within 15 Hong Kong business days after the Valuation Day (according to the latest Valuation Day of your investment choices under the Policy Account) immediately following the date on which the Company receive all relevant documentation completed to our satisfaction. Such payment will discharge all our obligations under the Policy.

If there is no nominated beneficiary or any information given on the nominated beneficiary is incomplete, the death benefit shall be payable to the policy owner(s). The Valuation Day for the notional units of investment choices standing to the credit of your Policy will be the next Valuation Day immediately following the Company’s receipt of the claim form. No interest is payable in respect of the period between the effective date of claim and the date of payment.

To the extent permissible by applicable laws, we may terminate this Policy at any time if, in our opinion acting fairly, in good faith and a commercially reasonable manner, your ownership of this Policy is likely to impose any regulatory or tax obligation on us that we would not otherwise subject to. Exit Charge will be waived under such situation.

10 Fortuity

Fees and Charges


Establishment Fee• Subject to the original contribution amount made to Initial Contribution Account and each

Additional Contribution Account(s) (if applicable), the fee for each account will be determined separately and ranged from 1.1% to 1.7% per annum (i.e. 0.09166% to 0.14166% per month) of the original contribution amount made to the relevant account as at the effective date of that account. The higher the contribution made, the lower the percentage will be.

• The fee for each account will be applied during the first 60 months since the effective date of that account and determine according to the original contribution amount made to the relevant account as set out in the table below regardless of any partial withdrawal(s).

• This fee will be deducted on a monthly basis from the Initial Contribution Account and each Additional Contribution Account (if applicable) by redeeming the appropriate number of notional units of each investment choice at the beginning of each Policy Month in proportion to the value of that investment choice in the Initial Contribution Account and each Additional Contribution Account (if applicable).

• Partial withdrawal(s) made from the Policy will not reduce this fee as the calculation is based on the original contribution amount made to relevant account under the Policy.

• This fee is payable to the Company.

Administration Charge• This charge is 1.2% per annum (i.e. 0.1% per month) on your Policy Account Value.• This charge, after reduction of the relevant Monthly Bonus (if any), will be deducted on a

monthly basis from the Initial Contribution Account and each Additional Contribution Account (if applicable) by redeeming the appropriate number of notional units of each investment choice at the beginning of each Policy Month in proportion to the value of that investment choice in the Initial Contribution Account and each Additional Contribution Account (if applicable).

• For details on Monthly Bonus, please refer to the “Monthly Bonus” section.• This charge is payable to the Company.

2,500 – less than 15,000

15,000 – less than 37,500

37,500 –less than 60,000

60,000 or above

20,000 – less than 120,000

120,000 – less than 300,000

300,000 –less than 480,000

480,000 or above

1.7% p.a.(0.14166% per month)

1.5% p.a.(0.12500% per month)

1.3% p.a.(0.10833% per month)

1.1% p.a.(0.09166% per month)

JPYGBPEUR

Contribution Amount

USDHKD

Establishment Fee per annum(Percentage of original contribution amount made)

2,500 – less than 15,000

15,000 –less than 37,500

37,500 –less than 60,000

60,000 or above

1,666 – less than 10,000

10,000 – less than 25,000

25,000 –less than 40,000

40,000 or above

325,000 –less than 1,950,000

1,950,000 –less than 4,875,000

4,875,000 –less than 7,800,000

7,800,000or above

We reserve the right to vary the policy charges or impose new charges with not less than 1-month’s prior written notice or such other period of notice in compliance with the relevant regulatory requirements.

I. Policy Level (Payable to the Company)

X

Exit Charge• In case of surrender of Policy, this charge will be applied to the Initial Contribution Account

and/or the relevant Additional Contribution Account (if applicable) if the surrender of Policy is made before the 60th month since the effective date of the relevant account.

• The Exit Charge of each account for the surrender of Policy will be calculated as follows:

• In case of partial withdrawal from Initial Contribution Account and each Additional Contribution Account (if any), this charge will be applied on an individual account basis if:(i) the partial withdrawal is made from the relevant account before the 60th month since

the effective date of that account; and(ii) the value of the relevant account immediately after the partial withdrawal is less than

50% of the original contribution amount made to that account.• The Exit Charge of each account for partial withdrawal will be applied by multiplying the

below Adjustment Factor to the above mentioned Exit Charge for surrender of Policy:

* If the value of the relevant account immediately after partial withdrawal remains higher than 50% of the original contribution amount made to the relevant account, no Exit Charge will be required.

• The Exit Charge is calculated separately of each Initial Contribution Account and Additional Contribution Account (if any).

• Partial withdrawal(s) made from the Policy and the corresponding Exit Charge deducted will not reduce the Exit Charge for any subsequent partial withdrawal(s) and surrender of Policy as the calculation is based on the original contribution amount made to the relevant account.

• The Exit Charge, if applicable, will be deducted from the amount paid out of the partial withdrawal or surrender of Policy (as appropriate) on the date when such amount is paid.

• Please note if there is a significant drop in the Policy Account Value, the Exit Charge may be more than the amount paid out of the partial withdrawal or surrender of Policy. In such circumstances, you will not get any amount from the respective partial withdrawal or surrender of Policy.

Applicable Exit Charge percentage (as shown in the table below)

50% of original contribution amount made to relevant account

Original contribution amount made to relevant account

50% of original contribution amount made

to relevant accountAdjustment Factor

Value of relevant account immediately after the partial

withdrawal–

=

HKD85,000 – HKD10,000= HKD75,000

N/A*

N/A*

N/A*

• The applicable Exit Charge percentage is as set out in the table below:


Applicable Exit Charge percentage

Month since the effective date of relevant account

Applicable Exit Charge percentage

Month since the effective date of relevant account

4.91667%4.83333%4.75000%4.66667%4.58333%4.50000%4.41667%4.33333%4.25000%4.16667%4.08333%4.00000%3.91667%3.83333%3.75000%3.66667%3.58333%3.50000%3.41667%3.33333%3.25000%3.16667%3.08333%3.00000%2.91667%2.83333%2.75000%2.66667%2.58333%2.50000%

123456789101112131415161718192021222324252627282930

313233343536373839404142434445464748495051525354555657585960 & onward

2.41667%2.33333%2.25000%2.16667%2.08333%2.00000%1.91667%1.83333%1.75000%1.66667%1.58333%1.50000%1.41667%1.33333%1.25000%1.16667%1.08333%1.00000%0.91667%0.83333%0.75000%0.66667%0.58333%0.50000%0.41667%0.33333%0.25000%0.16667%0.08333%0.00000%

• Please be reminded that you have to designate the account(s) for any withdrawal.• This fee is payable to the Company.

Exit Charge Illustration 1 – Surrender of Policy Assumptions and working:• Policy is set up with only the Initial Contribution Account.• The original contribution amount made to the said Initial Contribution Account is HKD80,000.• Surrender of the Policy is made in the 1st month since the effective date of Initial Contribution Account.

Exit Charge= Original contribution amount made to Initial Contribution Account x Applicable Exit Charge percentage in the 1st month since the effective date of Initial Contribution Account= HKD80,000 X 4.91667% = HKD3,933.34

Please note that the illustrations below are hypothetical and based on assumptions made solely for the purpose of illustrating the calculation of Exit Charge. It should not be taken as an indication to the performance of your Policy.

Exit Charge Illustration 2 – Partial withdrawal from Policy with more than one accountAssumptions and working:• Policy is set up with only the Initial Contribution Account.• The original contribution amount made to the said Initial Contribution Account is HKD80,000.• An Additional Contribution Account in the 6th month since the effective date of the Policy.• A partial withdrawal (please refer to the table below for partial withdrawal amount) is made

in the 8th month since effective date of the Initial Contribution Account.• Client has designated to withdraw from the Initial Contribution Account only.

(1) Original contribution amount made to the Initial Contribution Account

(2) Applicable Exit Charge percentage in the 8th month since the effective date of Initial Contribution Account

(3) 50% of original contribution amount made to the Initial Contribution Account

(4) Value of Initial Contribution Account immediately prior to partial withdrawal being made

(5) Partial withdrawal amount

(6) Value of the Initial Contribution Account immediately after partial withdrawal

i.e. (4) – (5)

(7) Exit Charge before applying Adjustment Factor

i.e. (1) x (2)

(8) Adjustment factor i.e.[(3) – (6)]/ (3)

(9) Exit Charge i.e. (7) x (8)

HKD80,000

4.33333%

HKD40,000

HKD85,000

* No Exit Charge is required since the value of the Initial Contribution Account immediately after partial withdrawal (i.e. HKD75,000) remains higher than 50% of original contribution amount made to that account (i.e. HKD40,000).

Scenario 2Withdrawal with Exit Charge

Scenario 1Withdrawal without Exit Charge

HKD10,000

HKD85,000 – HKD55,000= HKD30,000

HKD80,000 x 4.33333%= HKD3,466.67

[HKD40,000 – HKD30,000]/ HKD40,000 = 0.25

HKD3,466.67 x 0.25= HKD866.67

HKD55,000


Exit Charge Illustration 4 – Partial withdrawal where value of relevant account immediately after partial withdrawal falls below the Minimum Policy Account Value Assumptions and working:• Policy is set up with only the Initial Contribution Account.• The original contribution amount made to the said Initial Contribution Account is HKD80,000.• A partial withdrawal of HKD75,000 is made in the 30th month of the Policy. • Value of the said Initial Contribution Account immediately prior to partial withdrawal being

made is HKD85,000.• The Minimum Policy Account Value is HKD20,000.

(1) Original contribution amount made to the Initial Contribution Account

(2) Applicable Exit Charge percentage in the 30th month since the effective date of the Policy

(3) 50% of original contribution amount made to the Initial Contribution Account

(4) Value of the Initial Contribution Account immediately prior to partial withdrawal being made

(5) Partial withdrawal amount

(6) Value of the Initial Contribution Account immediately after partial withdrawal

i.e. (4) – (5)

(7) Exit Charge i.e. (1) x (2) In this case, Policy will be terminated and

deemed to have applied for a surrender of Policy as the Policy Account Value immediately after partial withdrawal has fallen below the Minimum Policy Account Value (i.e. HKD20,000).

HKD80,000

2.50000%

HKD40,000

HKD85,000

HKD75,000

HKD85,000 – HKD75,000= HKD10,000

HKD80,000 x 2.50000%= HKD2,000

Scenario 4

Switching Fee• Currently nil for all switching between investment choices.

II. Policy Level (Payable to your appointed third party financial adviser)

III. Underlying Fund Level (Payable to the fund managers of the underlying funds)You should note that the underlying funds of the investment choices may have separate charges on management fee, performance fee, bid-offer spread and/ or switching fee. You do not pay these fees directly. The fees will be deducted and such reduction will be reflected in the unit price of the underlying funds. For details, please refer to the “Investment Choices Brochure” and the offering documents of the underlying funds, which are made available from the Company upon request.

Advisory Fee (Optional)• This fee ranges from 0% to 2% per annum (i.e. 0% to 0.16666% per month) on the Policy

Account Value.• If applicable, it will be deducted on a monthly basis from the Initial Contribution Account and

each Additional Contribution Account (if applicable) by redeeming the appropriate number of notional units of each investment choice at the beginning of each Policy Month in proportion to the value of that investment choice in the Initial Contribution Account and each Additional Contribution Account (if applicable).

• The applicability of this fee and its rate both depends on your agreement with your appointed third party financial adviser (if any).

• This fee is payable to your appointed third party financial adviser.

Exit Charge Illustration 3 – Partial withdrawal made from two different accountsAssumptions and working:• Policy is set up with only the Initial Contribution Account.• The original contribution amount made to the said Initial Contribution Account is HKD80,000.• An Additional Contribution Account has been set up in the 50th month since the effective date

of the Policy.• The contribution amount made to the Additional Contribution Account is HKD40,000.• A partial withdrawal is made in the 80th month since the effective date of the Policy. (i.e. in the 80th month since the effective date of Initial Contribution Account and 30th month

since the effective date of the Additional Contribution Account).• The client has requested a partial withdrawal of HKD105,000 in total. He has designated to

withdraw HKD70,000 from the Initial Contribution Account and HKD35,000 from the Additional Contribution Account.

(1) Original contribution amount made to the respective account

(2) Applicable Exit Charge percentage in the 80th month since the effective date of the Policy

(3) 50% of original contribution amount made to the respective account

(4) Value of respective account immediately prior to partial withdrawal being made

(5) Partial withdrawal amount made from respective account

(6) Value of respective account immediately after partial withdrawal

i.e. (4) – (5)

(7) Exit Charge before applying Adjustment Factor

i.e. (1) x (2)

(8) Adjustment Factor i.e. [(3) – (6)/ (3)]

(9) Exit Charge i.e. (7) x (8)

* No Exit Charge is required since the Initial Contribution Account has been effective for 60 months and above.

Additional Contribution AccountInitial Contribution Account

HKD80,000(made at the start of Policy)

0.00%(80th month since effective date of Initial Contribution Account) HKD40,000

HKD100,000

HKD70,000

HKD100,000 – HKD70,000= HKD30,000

N/A*

N/A*

N/A*

HKD40,000(made in the 50th month since effective date of Policy)

2.50%(30th month since effective date of Additional Contribution Account)

HKD20,000

HKD45,000

HKD35,000

HKD45,000 – HKD35,000= HKD10,000

HKD40,000 x 2.50%= HKD1,000

[HKD20,000 – HKD10,000]/ HKD20,000 = 0.5

HKD1,000 x 0.5= HKD500

Scenario 3


General Information

ApplicationTo apply for the Plan, you need to complete the application form and return it to us with the required contribution. It is available on a single life and joint life basis with an issue age of the youngest life insured from age 18 to age 60 (last birthday).

Investment involves risks. You should not purchase the Plan unless you understand it and it has been explained to you how it is suitable for you. The final decision is yours.

Plan OwnershipThe Plan allows sole or joint ownership with all policy owners with an issue age from age 18 to age 60 (last birthday). All policy owners should have insurable interest with the life insured. For the Policy with joint ownership, the Company requires application with signatures from all policy owners before the Company process any transactions related to the Policy. The policy owner(s) may assign the Plan to a third party by sending us a written notice of assignment.

Currency and Place of PaymentThe Company uses a pre-fixed amount for each Policy Currency for the purposes of determining the amount of relevant (1) Minimum Policy Account Value, (2) minimum contribution and (3) minimum withdrawal requirements and; for the purposes of determining the applicable rate of (1) Establishment Fee and (2) Monthly Bonus.

All payments to be made by or to the Company under the Policy will be paid in the Policy Currency specified at the time of application at the Company’s registered office in Hong Kong or at any other place designated by the Company.

Please contact the Company or your financial adviser for the available method of payment as determined by the Company from time to time.

The Company may accept payment in currency other than the Policy Currency specified at the time of application at the Company’s discretion. Such payment will be converted to the Policy Currency at the exchange rate (based on the exchange rates provided by our major banker(s) on the transaction date and

subject to the spread of the foreign exchange rate reasonably applied by us in good faith and commercially reasonably manner with reference to the prevailing market exchange rates from time to time) on the date of the payment to be processed by the Company. The daily exchange rates are available to you at our website www.standardlife.hk or you can call our Customer Service Hotline on 2169 0300 from Monday to Friday, 9:00am to 5:30pm.

Please note that the investment returns of your Policy may be subject to foreign exchange risks as some of the investment choices you selected and/ or the assets of their underlying funds may be denominated in a currency which is different from that of your Policy. If you are investing in the policy in foreign currency, you may be subject to the risk of exchange rate fluctuations.

Cancellation of Notional UnitsOn the payment date of any policy charges, or the effective date of any withdrawal, surrender, policy maturity, switching of investment choice and death benefit payout, the Company will cancel the notional unit(s) of the investment choice(s) from your Policy at the bid price of the investment choice(s).

Changed CircumstancesWith not less than 1-month’s prior written notice or such other period of notice in compliance with the relevant regulatory requirements, the Company can alter or modify the policy provisions of the Policy while the Policy remains in force if:(1) it becomes impossible or impracticable

to carry out any of the policy provisions as a result of changes in the law or other circumstances beyond our control; or

(2) tax rules are changed; or(3) The Company has to pay a government levy.

The Company reserves the right to change the minimum and maximum values and levels referred to in the policy provisions from time to time by a reasonable amount to reflect any changes to the administration, specification and costs of providing the Policy. Such alteration or modification will be determined fairly and reasonably by an actuary or other person of professional standing.

Borrowing RestrictionsThe Policy has no borrowing powers. For details of the borrowing powers of the underlying funds, please refer to the offering documents of each underlying fund.

Deduction of DebtsThe Company will deduct all outstanding charges you owe the Company from the amount the company pay out under the Policy.

Exchange RatesThe return on investment of your investment choices is calculated or determined by the Company with reference to the performance of the underlying funds which are managed by reputable investment managers.

The denominating currency of the investment choices may be different from that of the corresponding underlying funds. Changes in foreign currency exchange rate may therefore affect the performance of the investment choices. Please refer to the “Investment Choices Brochure” for details.

IncontestabilityYour or the life insured’s failure to disclose a material fact or making of an incorrect statement about a material fact will not, in the absence of fraud, render your policy voidable by the Company after it has been in force during the life insured’s lifetime for two years from the policy start date. A material fact is a fact which would have been likely to influence the Company’s decision to offer the policy or affect coverage provided or the Initial Contribution and Additional Contributions which the Company would charge for your policy. This provision will apply to any schedules attached to your policy unless stated otherwise.

Switching of Investment ChoicesAs your personal investment objectives change, the Policy currently allows you to switch between investment choices at no switching fee. However, the minimum switch-out amount of each switching instruction to another investment choice cannot be less than 1% of the value of the relevant investment choice.

Standard Life reserves the right to impose switching fee with not less than 1-month’s prior written notice or such other period of notice in compliance with the relevant regulatory requirements.

Valuation of Investment ChoicesThe bid and offer price of each investment choice is determined on each Valuation Day according to the following:¬ Bid price of an investment choice is equal to

the bid price of its corresponding underlying fund on the same Valuation Day.

¬ Offer price of an investment choice is equal to the offer price of its corresponding underlying fund on the same Valuation Day.

In general, there is no bid-offer spread of the unit price of the underlying funds and therefore, there is no bid-offer spread of the unit price of the corresponding investment choices. In this case the bid price of the investment choice is equal to its offer price. You should refer to the offering documents of the underlying funds for more information.

There is no bid-offer spread on the unit price of investment choices other than bid-offer spread applied by the underlying funds.

The Company may suspend the determination of the unit price of the investment choices if the valuation of the corresponding underlying fund of the investment choices is impracticable. For details of the valuation of assets of the investment choices and suspension of determination of the unit price of the investment choices, please refer to the relevant policy provisions which is made available to you by the company, free of charge.

The bid and offer price of each investment choice is available to you at the Company’s website www.standardlife.hk or you can call the Company’s Customer Service Hotline on 2169 0300 from Monday to Friday, 9:00am to 5:30pm.


Exceptional CircumstancesIn exceptional circumstances, the Company may not allow you to make an investment contribution, switching, withdrawal, regular withdrawal or surrender in order to maintain fairness and equity between the policy owners holding and those policy holders cancelling the notional units of an investment choice. Such exceptional circumstances may include, but are not limited to the suspension, gating or deferral of subscriptions to or redemption from any investment choice in which your Policy is invested.

The Company can only prevent you from making an investment contribution, switching, withdrawal, regular withdrawal or surrender for a continuous period of no more than 30 Hong Kong business days under such circumstances unless the event which triggers the exceptional circumstance is still outstanding and in such case you may be prevented from making an investment contribution, switching, withdrawal, regular withdrawal or surrender until the events have ceased or been eliminated. When you do make the investment contribution, switching, withdrawal, regular withdrawal or surrender, the Company will use the unit prices of investment choices that apply at that time. The Company will give you a written notice as soon as reasonably practicable if any exceptional circumstances exist which would prevent you from making an investment contribution, switching, withdrawal, regular withdrawal or surrender or the Company have suspended the valuation of the units relating to an investment choice.

Closure of Investment ChoiceThe Company will give you with not less than 1-month’s prior written notice or such other period of notice in compliance with the relevant regulatory requirements before we close any investment choice currently available under the Plan.

RoundingWe will round (1) the notional unit of investment choices allocated and cancelled to the nearest 5 decimal places, (2) any value for the Policy and Exit Charge amount to the nearest 2 decimal places and (3) monthly rate of fees and charges to the nearest 5 decimal places (except for Establishment Fee and Advisory Fee are truncated to 5 decimal places). Any bid price or offer price of investment choices will not be rounded.

Please note that we reserve the right to adjust the number of decimal places and rounding method for each calculation with not less than one month’s prior written notice or such other period of notice in compliance with the relevant regulatory requirements.

Cooling-off Period(1) You may cancel the Policy within 21 days

from the earlier of (a) the date of delivery of the Policy or (b) the date of issue of a notice informing you or your representative about the availability of the Policy and the expiry date of the cancellation rights described in the Policy Provisions.

(2) If you want to cancel the Policy within the time period referred above, your request to cancel must be in writing, signed by you and received directly by the Company at 40/F, Tower 1, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong within 21 days after the delivery of the Policy or issue of the aforementioned notice to you or your representative, whichever is earlier. When the Company receives your written request, the Company will refund all Initial Contribution and Additional Contribution(s) (if any) paid without interest, from which the Company may deduct a market value adjustment charge to cover any investment loss resulting from realising the value of any assets acquired through the Company’s investment of any premium paid at that time. No refund of Initial Contribution and Additional Contribution(s) (if any) will be paid if payment in respect of a claim has been made.

Applicable Law and JurisdictionThis Policy is governed by and shall be construed in accordance with the laws of Hong Kong Special Administrative Region. The courts in the Hong Kong Special Administrative Region shall have non-exclusive jurisdiction to settle any disputes and claims that arises out or in connection with this Policy.

Geographical LimitsThe Policy is not available to United States and Canadian residents due to taxation issue.

TaxationTax benefits that can be derived from this Plan depend on the tax law applicable to your particular situation. The Company advises you to seek your own independent professional advice regarding your particular tax circumstances.

U.S. Foreign Account Tax Compliance ActUnder the U.S. Foreign Account Tax Compliance Act (“FATCA”), a foreign financial institution (“FFI”) is required to report to the U.S. Internal Revenue Service (“IRS”) certain information on U.S. persons that hold accounts with that FFI outside the U.S. and to obtain their consent to the FFI passing that information to the IRS. An FFI which does not sign or agree to comply with the requirements of an agreement with the IRS (“FFI Agreement”) in respect of FATCA and/or who is not otherwise exempt from doing so (referred to as a “nonparticipating FFI”) will face a 30% withholding tax (“FATCA Withholding Tax”) on all “withholdable payments” (as defined under FATCA) derived from US sources (initially including dividends, interest and certain derivative payments).

The intergovernmental agreement (“IGA”) signed on 13 November 2014 between Hong Kong and the U.S. is to facilitate compliance by FFIs in Hong Kong with FATCA and which

creates a framework for Hong Kong FFIs to rely on streamlined due diligence procedures to (i) identify U.S. indicia, (ii) seek consent for disclosure from its U.S. policy owners and (iii) report relevant tax information of those policy owners to the IRS.

FATCA applies to Standard Life and this Policy. We are a participating FFI. Standard Life is committed to complying with FATCA. To do so, we require you to:(i) provide to us certain information including,

as applicable, your U.S. identification details (e.g. name, address, the U.S. federal taxpayer identifying numbers, etc); and

(ii) consent to our reporting this information and your account information (such as account balances, interest and dividend income and withdrawals) to the IRS.

If you fail to comply with these obligations (being a “Non-Compliant Accountholder”), we are required to report “aggregate information” of account balances, payment amounts and number of non-consenting U.S. accounts to IRS.

Standard Life could, in certain circumstances, be required to impose FATCA Withholding Tax on payments made to, or which it makes from, your Policy. Currently the only circumstances in which we may be required to do so are:(i) if the Inland Revenue Department of Hong

Kong fails to exchange information with the IRS under IGA (and the relevant tax information exchange agreement between Hong Kong and the U.S.), in which case we may be required to deduct and withhold FATCA Withholding Tax on withholdable payments made to your Policy and remit this to the IRS; and

(ii) if you are (or any other account holder is) a nonparticipating FFI, in which case we may be required to deduct and withhold FATCA Withholding Tax on withholdable payments made to your Policy and remit this to the IRS.

You should seek independent professional advice on the impact FATCA may have on you or your Policy.


AuthorisationThe Plan and the Principal Brochure of the Plan have been authorised by the Securities and Futures Commission (“SFC”) pursuant to sections 104(1) and 105(1) of the Securities and Futures Ordinance. SFC authorisation is not a recommendation or endorsement of a scheme nor does it guarantee the commercial merits of a scheme or its performance. It does not mean the scheme is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. SFC does not take any responsibility for the contents of the Principal Brochure, make no representation as to its accuracy or completeness and 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 Principal Brochure.

ResponsibilityStandard Life (Asia) Limited accepts full responsibility for the accuracy of the information contained in the Principal Brochure and confirm, having made all reasonable enquiries, that to our best knowledge and belief that there are no other facts the omission of which would make any statement therein misleading.

StatementYou will receive a statement each year stating the balance of your Policy. Upon your request, a similar statement will be provided to you at dates other than the anniversary of your Policy without cost.

Plan UnderwriterStandard Life (Asia) Limited is an authorised insurer in Hong Kong to write class A, class C and class I of long-term business, and is a subsidiary of Standard Life plc.

40/F, Tower 1, Times Square, 1 Matheson Street, Causeway Bay, Hong KongTelephone: +852 2169 0700Fax: +852 2169 0220Web: www.standardlife.hk

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