YF Life Launches Limited-time Offer: “Tax-Deductible Combo”

Successful Applicant for VHIS and QDAP Can Enjoy Up to 6-Month Annualized Premium Discount

January 10, 2022

Medical and annuity products from YF Life Insurance International Ltd. (YF Life) have always received popular acclaim. To further motivate people to plan their financial future early and properly, as well as provide comprehensive medical insurance protections for themselves and their families, YF Life has announced the launch of “Tax-Deductible Combo”, a special limited-time offer for the tax season. From now until March 31, successful applicants for a Voluntary Health Insurance Scheme (VHIS) plan, including the “TaxVantage Plus Medical Plan” or the “TaxVantage Medical Plan”, can enjoy a three-month premium discount in the first year. If the same policyholder also successfully enrolls in a tax-deductible MY Deferred Annuity, the enrolled VHIS insured can enjoy an additional three-month premium discount for the following year, making a total of up to six-month annualized premium discount.

Mr. Peter Yip, Deputy Head of Innovation and Brand Marketing, at YF Life, said, “YF Life is dedicated to developing flexible insurance products to meet customers’ needs for risk- and wealth-management. With the launch of the ‘Tax-Deductible Combo’ during the tax season, we aim to encourage customers to plan a healthy future and flexible retirement early, as well as enjoy the corresponding tax concession this year.” 

TaxVantage Plus Medical Plan and TaxVantage Medical Plan offer extensive coverage, ranging from surgery and hospitalization fees to various medical benefit items, including non-surgical cancer treatments (e.g., targeted therapy and immunotherapy, etc.), outpatient care for pre-and post-confinement or day-case procedures, prescribed diagnostic imaging tests (e.g., CT, MRI and PET, etc.) and psychiatric treatment, etc., as well as a lump-sum benefit against medical negligence. To put customers at ease with comprehensive coverage at all times, the plans also cover unknown pre-existing conditions, subject to the  reimbursement arrangements of the policy year. A further highlight of the plans is guaranteed renewals up to the age of 100 with no lifetime benefit limit, even if customers experience changes to their health. Customers can also enjoy a free choice of healthcare services provides and ward class. In addition, the qualifying premiums paid for “TaxVantage Plus Medical Plan” and “TaxVantage Medical Plan” are tax deductible.

“MY Deferred Annuity” offers customers both guaranteed fixed financial rewards and higher potential returns, with its 10/20-year stable annuity payment stream. The plan starts with a short 5-year or 10-year premium payment term, with no requirement for a medical examination. It provides a range of flexible options, including a 10-, 20-, or 30-year accumulation period, along with 10 or 20 years of annuity period. During the annuity period customers receive a monthly guaranteed fixed annuity payment and a monthly non-guaranteed annuity payment in cash, or may accumulate the monthly annuity payment in the policy to gain additional interest income. “MY Deferred Annuity” also provides an accident waiver of premium benefit. The qualifying premiums are also tax deductible.

YF Life Insurance International Limited is a member of publicly listed Yunfeng Financial Group Limited, whose major shareholders include Yunfeng Financial Holdings Limited¹ and Massachusetts Mutual Life Insurance Company¹, one of the “Five Largest US Mutual Life Insurance Companies”². Leveraging our robust financial background and solid reliability, YF Life is committed to helping customers “own the future” by providing professional and technology-enhanced one-stop risk- and wealth-management consulting services, as well as MPF services.

Notes:

1.    Yunfeng Financial Holdings Limited and Massachusetts Mutual Life Insurance Company have an indirect shareholding in Yunfeng Financial Group Limited.
2.    The “Five Largest US Mutual Life Insurance Companies” is ranked according to the results of “Insurance: Life, Health (Mutual)” on total revenues for 2020, and based on the FORTUNE 500 as published on June 1, 2021.