Policy review
Existing-policy review
Surrender compare, replacement warnings, Mainland+HK overlap cleanup, plus FNA self-study. Fill tables before listening to “switch now.”
Keep / surrender / RPU / loan
| Option | What you keep | Typical cost | Must ask |
|---|---|---|---|
| Keep paying | Original cover + contract path | Premiums use liquidity | Does the purpose sentence still hold? |
| Surrender | Surrender-value cash | Often far below premiums early; cover ends | What is guaranteed cash value today? |
| Reduced paid-up | May keep a lower sum, no further premiums | Sum drops; confirm clause conditions | Sum and scope after reduction? |
| Policy loan | Contract may stay in force (per terms) | Interest and drag on long-term value | Rate, limit, unpaid consequences? |
Replacement warnings
| Warning | Why it hurts | Minimum ask |
|---|---|---|
| Same-day “surrender & replace” | Double loss + new waiting periods | Written old/new sheet + FNA |
| No guaranteed cash-value figure | Cannot quantify surrender cost | Pause; ask the insurer first |
| Comparing old vs new on total illustrated benefit | Treats non-guaranteed as promised | Compare guaranteed columns + purpose only |
Mainland + HK overlap
| Type | When Mainland + HK both exist | Cleanup action |
|---|---|---|
| Medical (reimbursement) | Usually no double full reimbursement of one bill | Map deductible / geography complementarity |
| CI (lump sum) | Lump sums can generally coexist | Is the sum oversized? Purpose overlap? |
| Term life | Can coexist; check duty horizon | Resize after aligning mortgage / dependants years |
Annual review triggers
- Marriage, divorce, birth, home purchase, job change, migrate/leave HK
- Serious illness, large income change, beneficiary death
- Currency, address or tax-residency change
Related tools
- FNA self-study (+ review tables)
Balance sheet, income gap, goals, currency, risk—printable
- Scenario: existing-policy concerns
Direct answer, priorities, meeting questions
- Interview prep
Replace-tactic red flags and eight must-asks
- Claims & dispute routing
Document list, common declines, complaints-bureau path
- Official sources directory
Official verification & disclosure index—not a co-sell list
Claims & review cluster
- Intermediary says old policy underperforms—surrender today?
- Do not decide same day. Demand guaranteed CV figures, written old/new sheet and FNA; comparing on total illustrated benefit is a red flag.
- Do Mainland and HK medical plans double-pay one bill?
- Reimbursement usually won’t fully double-pay one bill; deductible/geo can complement. CI/term lump sums can coexist—watch purpose overlap.