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HK Guaranteed Growth MVA Free Options

When does a market value adjuster not apply?

Even where we have announced that an MVA applies, it is important to remember that a deduction is not made in the following circumstances:


  • If you leave your money invested in the GGF, an MVA will not apply. However, an MVA may apply to future withdrawals and switches.
  • If you are already taking a regular withdrawal from the GGF that was pre-specified at the outset of the plan, then an MVA will not apply to those regular withdrawals.*
  • If you have given five years notice that you want to start taking a regular withdrawal from GGF2 (regular premiums only), GGF 2001 (single premiums only) or GGF7 (regular and single premiums) from a specified date, then an MVA will not apply to those regular withdrawals.*
  • The amount of MVA being applied depends on when the investment into the GGF was made.
  • An MVA will not apply if money is being paid out in the event of death.
  • An MVA will not apply at the end of the plan term (Wealthmaster plan), or the specified fund investment term (Premier Account) or a life care plus claim (Lifetime and Wealthmaster).
  • An MVA will not apply for GGF investments in the Flexible Savings Plan, if the GGF investment is held until maturity and the term to maturity is not less than ten years.

*MVA-free regular withdrawals do have limits per policy year. You should check that these limits are valid when pre-specifying regular withdrawals.