ICICI Bank Limited, Hong Kong Branch (“ICICI Bank”), an insurance agent appointed and authorized by Prudential Hong Kong Limited (A member of Prudential plc group) (“Prudential”), distributes the following types of life insurance products.

Evergreen Growth Saver

Product Category: Life Insurance

A whole life insurance plan designed for long-term savings

Double Treasure Plan

Product Category: Life Insurance

Helps increasing insured savings for achieving insured financial goals at different life stages


Product Category: Life Insurance

To have the life protection you need when misfortune occur, in an easy and affordable way

Risk Disclosure:

Important notes
The above product is a life insurance plan and is not a bank deposit. It is underwritten by Prudential. ICICI Bank is an insurance agent of Prudential.


Credit risk
The guaranteed cash value (if applicable) and insurance benefit are subject to the credit risk of Prudential and not guaranteed by ICICI Bank or any of their subsidiaries or affiliates. The worst case such as insolvency of the insurer will result in total loss.


Surrender/early withdrawal/liquidity risk
The liquidity of an insurance policy is limited. You are strongly advised to hold the policy until the end of benefit term and reserve adequate liquid assets for emergency use. For any surrender/withdrawal especially at the early stage upon policy inception, you may suffer from significant losses or even lose the entire premium(s) paid to the policy.


Non-guaranteed benefits (if applicable)
The product consists of non-guaranteed benefits and/or returns and its values presented in the marketing materials are not guaranteed and for illustrative purposes only. The actual future amounts of benefits and/or returns may be lower than or higher than the currently illustrated benefits and/or returns.


Exchange rate and currency risk (if applicable)
Foreign currency (including Renminbi [“RMB”]) exchange rate may fall as well as rise. There can be a substantial exchange rate loss when converting the benefit value in plan currency back to another currency. In addition, you should note that the currency exchange arrangement that needs to be made for converting the benefits into other currencies is also subject to the relevant currency exchange restrictions applicable at the time when the benefits are paid. RMB is currently not freely convertible and conversion of RMB through banks in Hong Kong is subject to restrictions specified by the bank and regulatory requirements applicable from time to time. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time. Converting foreign currency (including RMB) denominated benefits to another currency is the customer’s sole decision and responsibility. Prudential takes no responsibility for such arrangement.

All benefit amounts will be made in plan currency. For RMB policy, this is subject to the applicable laws, regulations and guidelines issued by the relevant regulatory authorities from time to time, providing always that Prudential shall have the absolute discretion to make payment under this policy in HKD. If conversion between currencies is required, it shall be calculated at the prevailing currency exchange rate as determined by Prudential in its absolute discretion from time to time upon payment.


Change of premium rates (if applicable)
Prudential reserves the right to review and vary, at its sole discretion, the premium rates of the plan on each policy anniversary and adjust the premium rates accordingly across a particular risk class (including but not limited to gender and smoking status) but not to an individual customer.


Investment risk relating to equities and bonds (if applicable)
The plan involves investing in a basket of assets including exposure to global equities and bonds. The investment returns of the plan will be affected by the investment performance of global equities and bonds. Interest rate fluctuations and equity fluctuations may adversely affect the non-guaranteed benefits, return and performance of the plan. The non-guaranteed benefits, return and performance of the plan are subject to the credit risk of the issuer(s) of the bonds (in which the plan invests) which is not guaranteed by the insurer, agents or distributors. Foreign exchange rates risk applies as most of the equity assets include exposure to the global equity markets and will be denominated in currency which is different from the currency of the plan. Whilst foreign exchange rate risk is currently managed with currency hedge for bond, residual risk remains.


Investment risk relating to RMB-denominated assets (if applicable)
For RMB policy, the investment strategy of the With-Profits Fund associated with the plan includes investing in RMB-denominated assets. The investment yield experience of the With-Profits Fund associated with the plan will be affected by the investment performance of RMB-denominated assets. However, investment in RMB-denominated assets is subject to applicable laws, regulations and guidelines issued by relevant regulatory authorities from time to time. Any change of the applicable laws, regulations and guidelines may lead to an update to the investment strategy and the associated investment performance may be affected.


Limited offer period for RMB currency option (if applicable)
The RMB currency option of this plan is offered for a limited period only and is subject to a quota limit. Prudential reserves the right to withdraw this currency option from the market at any time at its sole discretion without prior notice, regardless of whether not your policy application has already been received. Prudential will, however, return the original premium already paid by you in the original amount and in the premium payment currency without interest, if it decided to withdraw the currency option after its receipt of your application.


Non-guaranteed bonuses (if applicable)
The face value of the reversionary bonus and special bonus will be paid when Prudential is payment the death benefit, but only the cash value of these bonuses will be paid when the policy is surrendered in whole or in part. The face value of reversionary bonus is guaranteed once declared while the cash value of the bonuses is not guaranteed. These values are illustrative only and are calculated based on the Prudential’s current projections of surrender values and bonus scales, both of which are not guaranteed and will be subject to change at the Prudential’s sole discretion. The actual values paid may change with the values being higher or lower than those illustrated.


Investment strategy (if applicable)
Prudential’s investment objective is to balance policyholders return with an acceptable level of risk, in a broad mix of suitable investments aimed at protecting the respective rights and reasonable expectations of all groups and generations of With-Profits policyholders.


The With-Profits Fund invests in various types of assets, such as equities, property, corporate bonds and cash, helping to diversify investment risk. This multi-asset approach seeks to ensure more stable returns over the longer term.


Prudential adopts an actively managed investment strategy and the asset mix will be adjusted in response to changing market conditions. In normal circumstances, Prudential’s risk management and investment experts allocate a lower proportion of higher risk assets, such as equities to insurance plan with higher guarantees, and vice versa. In doing so, we aim to match the level of risk profile of the products we manufacture.


The following paragraphs explain the current asset mix according to the current investment strategy. Should there be any material changes to the investment strategy, Prudential will inform policyholders on the changes made, the underlying reasons for the changes and the implications for policyholders.

  1. Security diversification Policies are supported by a wide range of assets, such as government bonds, corporate bonds and equities-type assets. The choice of assets is adjusted to cater for a number of factors including, but not limited to, differences in policy denomination and the availability of assets in various countries.


    The current target long-term equity-type exposure is set at 60% for USD-denominated and HKD-denominated policies, respectively, and 45% for RMB-denominated policies, with the actual exposure adjusted in response to changing market conditions. In addition, long-term targets are also reviewed regularly in line with our investment objective.

  2. Currency diversification Prudential’s current practice is to currency-matches its bond purchases with the underlying policy denomination. Where bonds are not denominated in the same currency as the underlying policies, currency hedges are purchased to offset any impact from currency fluctuations. In contrast, we give more flexibility to equity-type assets where those assets can be invested in other currencies in order to benefit from diversification.

Some life insurance plans may have a savings element, in which case, part of the premium will be used to pay for the insurance and related costs.


A customer who has bought the life assurance plans has a right to cancel the policy within the cooling-off period and obtain a refund of any premium(s) paid, less any withdrawals. Provided that no claim has been made, the customer may cancel the policy by giving written notice to Prudential within 21 days after: (a) the delivery of the policy or (b) the issuance of a notice (informing the availability of the policy and expiry date of the cooling off period) to the customer / his/her representative, whichever is earlier. After the cooling off period expires, if a customer cancels the policy before the end of its policy term, the projected cash value may be substantially less than the total amount of premiums paid.


As the issuer of the life assurance plans, Prudential will be responsible for all protection and claims issues. Prudential is not an associate or subsidiary company of ICICI Bank. This webpage is not a contract of insurance and is intended to be a general summary for reference purpose only. Please refer to the policy for full terms and conditions. ICICI Bank does not accept any responsibilities regarding any statements provided by Prudential or any discrepancies or omissions in the contract of insurance nor shall ICICI Bank be held liable in any manner whatsoever in relation to your contract of insurance.


This webpage is intended to be valid in Hong Kong only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Hong Kong. Prudential and ICICI Bank do not offer or sell any insurance product in any jurisdictions outside Hong Kong in which such offering or sale of the insurance product is illegal under the laws of such jurisdictions. This webpage does not constitute a contract of insurance or an offer, invitations or recommendation to any person to enter into any contract of insurance or any transaction described therein or any similar transaction.


Whether to apply for insurance coverage is your own individual decision. For Prudential’s life assurance plan policy provisions, details and risk disclosure please refer to relevant plan’s product leaflet/offering document and specimen policy.