Bowtie Term Life

Name: Bowtie Term Life
Brand: Bowtie
Price: 18 HKD
Rating: 4.5 (151 reviews)

Monthly premium as low as $24 per every $1 million sum insured*

Quote Now

Summary Examples Features Comparison Benefit Product Information FAQ Questions?

Quote Now

Product Brochure

Premium Schedule

Limited Time Offer

For all life insurance applications submitted on or after September 13, 2024, the suicide exclusion period will be changed to 2 years. Want to understand the rationale behind this change? Read this article. Please ensure that the information of the Policyholder and the Insured Person is correct when submitting the application. If the submitted information is incorrect, you may need to resubmit the application. At the time, please pay attention to the latest changes to the terms and conditions. All policy terms of the policy issued shall prevail.

We started accepting change of residency requests without policy termination to all Bowtie individual insurance plans in any countries/ regions except for those subject to sanction restrictions. Please refer to the following blog post for more details. If there are any enquiries, please contact our customer service team at 3008-8123.

What is Bowtie Term Life?

Bowtie Term Life is a term life insurance. As long as you pay your monthly premiums, you will receive the life insurance coverage. In the event that the insured person dies while the plan is in force, we will pay the sum insured as the death benefit to the beneficiary.

*Please note that Bowtie Term Life insurance plan includes a suicide exclusion clause. Click here for a detailed explanation of exclusions.

Do you need Bowtie Term Life Insurance?

Provide financial support for your spouse, children and parents

Example 1

Family of 4 with 2 children

Home mortgage loan- $4.5 million
Spouses and children’s living expenses (3 persons) - $1.8 million
Education fund - $400,000
Funeral cost - $50,000

Insured amount

$6.75 million

Example 2

Family of 2 (no children)

Rent - $700,000
Spouses and parents’ living expenses (3 persons) - $1.8 million
Funeral cost - $50,000
‍

Insured amount

$2.55 million

Example 3

Single

Parents living expenses (2 persons) - $1.2 million
Car loan- $150,000
Funeral cost - $50,000
‍

Insured amount

$1.4 million

專家教你如何決定保額 →

Higher coverage with same amount of premium

Bowtie Term Life provides pure life protection without a savings element. Bowtie offers a 40x coverage amount under the same amount of premium compared to general savings life insurance products in the market.

Affordable premium, simple cost structure

Monthly premium as low as $24 per every $1 million sum insured
The insurance coverage is automatically renewed every year and the premium is determined according to the actual underlying risk at the attained age, 100% fair pricing
Bowtie saves you 28% on premium under the same amount of coverage, 100% fair pricing.

Product comparison

Regular term life insurance

134

Average monthly premium

Pure Protection

Policy Term

Generally 5 years, 10 years, 20 years

Automatic renewal after the end of each policy period

Premium payment period

The premium for the policy term remains unchanged and premium will be adjusted at the time of renewal

Monthly/annual payment form

Termination consequences

There is no monetary loss. If the premium for the month or year has been already paid, the policy will still be effective until the next premium due date

Application method

Insurance can be purchased online or through an insurance intermediary

A medical examination may be needed

Bowtie Term Life Insurance

Average monthly premium

Pure Protection

Policy Term

1 year

Automatic yearly renewal (to 100 years old)

Premium payment period

The insurance coverage is automatically renewed every year and the premium is determined according to the actual underlying risk at the attained age

Monthly payment

Termination consequences

There is no monetary loss. If the premium for the month has been paid, the policy will still be in effect until the next month

Application method

Direct online application

3 Simple underwriting questions, no medical examination required

Pure guarantee

Regular Savings life insurance

1,615

Average monthly premium

Pure Protection

With savings component

Average guaranteed return in 30 years is approximately 0.78%

Policy Term

Whole Life (up to 100 years old)

Premium payment period

Limited-pay i.e. all premiums must be paid within a certain period

(For example within 10 years, 15 years or 20 years)

Termination consequences

The policy cash value upon termination may be less than the total premium paid

Application method

Typically applied through an insurance intermediary

May need a physical examination

Benefit items

After underwriting and medical examination, the maximum coverage amount can reach $20 million*

100AGE

Renewable until age 100

Benefit coverage

Death benefit coverage
(100% of sum insured)

Claim method

If the insured person dies, Bowtie will pay the death benefit to the beneficiary in a lump sum

Minimum Sum insured

HK$200,000

Maximum Sum insured

HK$20,000,000（Existing Customer*）
HK$8,000,000（18-45 years old）
HK$4,000,000（46-55 years old）
HK$3,500,000 (56-60 years old)
HK$1,000,000（61-65 years old）

* Existing customers who have undergone underwriting and a medical examination can have their total sum assured limit increased to a maximum of HK$20,000,000. Please click here to learn more.

Product Documents

Applicable to Bowtie Term Life policy application submitted on or before 12 September 2024

Terms and Conditions

Key Risks and Policy Exclusions

Standard Premium Schedule

Applicable to Bowtie Term Life policy application submitted on or after 13 September 2024.

Terms and Conditions

Key Risks and Policy Exclusions

Standard Premium Schedule

Important Product Information

Product Category

Term Life Insurance Plan – we will pay in lump sum to the Beneficiary in the event of death of the Insured Person

Issue Age

age 18 – age 65

Period of Cover

1 year – Guaranteed annual renewal up to age 100

Waiting Period

N/A

Renewal

Upon renewal, there shall be no re-underwriting. No additional rate of premium loading or case-based exclusions shall be imposed by reason of any change in the Insured Person's health conditions.
Upon renewal, we reserve the right to revise Policy Terms and Conditions, including the prevailing standard premium schedule.

Cooling-off Period

21 days

Within the cooling-off period, you may cancel the Plan and receive a full refund of premium

Policy Cancellation

You may request cancellation of the Plan by giving at least 30 days prior notice.

Tax Deduction

N/A

FAQ

Have questions about Bowtie's products? Our Product Specialists can assist you!

Providing you with personalized product consultations and commission-free!

Service Hours: 9:30 am to 6:30 pm, Monday to Friday 
Closed on Saturdays, Sundays, and Public Holidays

By scheduling a consultation or WhatsApp inquiry, you acknowledge that you have read Bowtie's Personal Information Collection Statement and agree to the use of your personal data for contact.

Schedule Consultation WhatsApp

For inquiries regarding existing policies, please contact our Customer Service Department:
Hotline: 3008 8123 | Email: cs@bowtie.com.hk | Click “Live Chat” at the bottom right corner

Remarks:
‍
Bowtie life Insurance Co. Ltd (“The Company”,”Bowtie”) is a limited liability company incorporated in Hong Kong. Bowtie Term Life is underwritten by our company and only intended for sale in Hong Kong. The above information is for reference only. For detailed terms and conditions of the product, please refer to the policy.

Part of the insurance statistics quoted above is obtained from public information and is processed by Bowtie using mathematical calculations, which is for general education and reference purposes only.
‍
*Calculated based on the standard premium for 18 year old non-smoker female
^ The data is the average value of the internal rate of return on the guaranteed cash value of 8 savings life insurance products (20 year premium payment period) on the market on July 1, 2020.
1. Calculated based on the standard premium of a 35-year-old non-smoking female insured with a sum assured of $1 million; term life insurance: data is the standard premium of term life insurance (20-year coverage) on the market on July 1, 2020(Includes term life insurance that can be applied online and 8 other term life insurance products); saving life insurance: data is the standard premium of 8 saving life insurance products (20-year premium payment period) on the market on July 1, 2020.
2. The total premium of Bowtie Term Life Insurance in 20 years is 28% lower than the average total premium of term life insurance (20-year coverage) in the market.
3. Calculated based on the standard premium of a 35-year-old non-smoking female insured with a sum assured of $1 million; the data is the average of the standard premiums of term life insurance (20-year coverage) in the market on July 1, 2020 (including the term insurance that can be purchased online) Life insurance and 8 other term life insurance).
4. According to the "Worldwide Cost of Living 2020" published by the Economist Intelligence Unit, the cost of purchasing non-urban units in Hong Kong is $157,967 per square meter. This example assumes that the policyholder’s residence area is 40 square meters, that is, the purchase price of the unit is $6.319 million.The mortgage balance is assumed to be 70% of the property price, or $4.423 million (approximately $4.5 million).
5. According to the "Household Expenditure Survey" conducted by the Census and Statistics Department in 2014/15, the average monthly expenditure per capita in Hong Kong is $9,253. This example assumes 60 months of living expenses, that is, each dependent needs $555,000 (about $600,000).
6. According to the JUPAS website, the annual tuition fee for the bachelor's program of the eight universities in Hong Kong is $42,100. Based on the 4-year academic system, the university tuition fee for each student is $168,400. This example assumes that the policyholder has 2 children, and the total required university tuition fee is $336,800 (approximately $400,000).
7. According to Topick's report, the average funeral costs in the market is used as a reference, and the above data is determined according to the actual situation in the market.
8. According to the "Worldwide Cost of Living 2020" published by The Economist Intelligence Unit, the cost of renting a non-urban unit (1 bedroom) in Hong Kong is $12,308. This example assumes 60-month rent, which is $738,000 (approximately $700,000).
9. Assume the cost of buying a car is $250,000, and the loan balance is 60% of the car price, which is $150,000.
* Terms and Conditions apply