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System requirements
- Alteration
- Alternative Investment Strategies
- Beneficiary
- Benefit Establishment Period
- Bid/Offer Spread
- Cash Surrender Value
- Company
- Encashment
- Encashment Charge
- Establishment Charge
- Fund Management Charge
- Guaranteed Bonus
- Investment Content
- Lapsed
- Life Insured
- Matured
- Paid Up
- Partial Encashment
- Policy Administration Fee
- Policy Loan
- Policy Owner
- Premium Start Date
- Protection Charge
- Reconciliation Entry
- Risk Commencement Date
- Specific Fund Switching
- Switching Fee
- Target Portfolio Switching
- Transaction
- Unit
- Unit Deduction


The Adjustment made due to the changes of the policy.

Alternative Investment Strategies

Investment process that use different investment techniques (including derivatives, arbitrage, short selling, etc) in order to exploit market opportunities.


The person who is designated by Policy Owner, from time to time, as the recipient of benefits upon the life insured dies.

Benefit Establishment Period

The period that no investment will be made. All premium paid within this period will be retained by the Company. 

Bid/Offer Spread

The difference between the buying and selling price.

Cash Surrender Value

The amount of cash available to the Policy Owner upon surrender of the policy before the policy matures.


AXA Wealth Management (HK) Limited


Policy Owner can elect to encash the policy in full for a cash sum. The encashment value shall be the value of the relevant Clients Account at the current selling price of the underlying units.

Encashment Charge

A fee that will apply on cancellation of units before the payment of any Encashment Value. 

Establishment Charge

Establishment Charge will be deducted during the period where the Establishment charge remains due, then the balance of the Establishment Charge will be deducted from the client's account for the calculation of the Encashment Value. 

Fund Management Charge

A fee is paid for managing customer holding by the company. (rephrase to: A fee to be deducted by units in a fixed rate on a monthly basis)

Guaranteed Bonus

A bonus in the form of additional units will be paid at the end of the Initial Guaranteed Period.

Investment Content

The percentage of each premium allocated for investment. For Investment Content below 100%, the balance will be retained by the Company.


A default in premiums before a policy has a nonforfeiture value, or termination of a policy because of nonpayment of renewal premiums.  

Life Insured

Any life insured (including the Primary or Additional Life Insured) relating to any particular benefit. Such persons are named in the Policy Schedule in relation to each benefit that is under covered.


A policy becomes expired.

Paid Up

A policy/benefit is said to be paid up if the premium has been suspended whereas the benefit is still valid.

Partial Encashment

Policy Owner can elect to partially encash any benefit for a cash sum. Corresponding units calculated at the selling price will be cancelled in the Clients Account.

Policy Administration Fee

The current Policy Administration Fee is specified in the Policy Schedule. Only one policy administration fee shall apply to a policy, regardless of the number of benefits.

Policy Loan

Once the policy or any related policies had acquired an Encashment Value, the Policy Owner can apply a loan on the security of the policy and any related policies for an amount not exceeding 60% of the Encashment Value.

Policy Owner

The person who has ownership rights under the term of the policy, whether the person is the insured or other owner of the policy.

Premium Start Date

The date on which premiums commence to be paid.

Protection Charge

The amount deducted for insurance benefit. Such premium rates are determined regarding to mortality, mobidity and other relevent factors including smoker status, occupation, etc.

Reconciliation Entry

Transactions made due to reconciliation or adjustments during processing.

Risk Commencement Date

The date on which coverage of benefit commences.

Specific Fund Switching

Policy Owner can switch a particular fund and its percentage holding to an alternative fund with specified percentage holding.

Switching Fee

A fee that will be involved in the redemption and repurchase of fund units.

Target Portfolio Switching

Policy Owner specifies a target portfolio spilt with particular fund name & its percentage holding.


Including all the financial transactions that related to premiums collection, charges, buy/sell of units and benefit.


A notional and undivided share in an investment fund, including any fraction thereof.

Unit Deduction

The unit debited for outstanding charges.

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