Frequently Asked Questions

A1: Why bother with insurance?

Insurance goes hand in hand with risk. Everything you do in life involves some sort of risk. Every day you take risks crossing the road, walking past construction sites and breathing polluted air.

The possibilities for risk are endless, so it's wise to have some kind of medical or life insurance. If you have a family, it is in your interest to protect them.

There are insurance policies that cover just about every risk you can think of, both physical and financial. Considering the benefits available, with proper planning and arrangement the costs you pay can be very reasonable.

The best way to start is to plan what you require by taking into account all the risks involved in your life.

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A2: How do I identify risk?

The things you need to protect or to be protected against in life can be divided into three basic categories:
1. Personal protection. This means protection for yourself and your family. You may need insurance for:

• Death and disability
• Medical and health
• Personal and family income

2. Property and assets. You need to protect the things you own, such as:

• Your home
• Household contents
• Personal belongings
• Money and valuables

3. Liability. If by chance you are held responsible for a negligent act, you may be legally liable to pay damages. So you may need to be covered for:

• Your employees (including domestic helpers)
• Your tenants, if you're a landlord
• Your rented flat, if you're a tenant
• Personal and general risks

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A3: How do I protect my assets?

Your assets are your most valuable possessions. They would cost money to replace if they were lost, damaged or stolen. The insurance plans available to protect your assets include:

Property insurance. This protects you against losses arising from damage to your home caused by such things as typhoons, earthquakes, landslides and gas-leak explosions. If you have a mortgage on your home, this type of insurance is compulsory.

Home insurance. This refers to your household belongings, such as furniture, appliances, cameras, computers, jewellery, ornaments, paintings and even the food in your freezer. Most policies also cover your belongings even when they're not in the home, for example, when you take your camera on holiday or wear your jewellery to a party. Some policies also cover personal accident and loss or damage during the decoration or refurbishment of your home.

Travel insurance. This covers you for most of the risks inherent in traveling abroad. Most policies cover personal accident and liability, and loss and theft of your belongings, money and credit cards. Some policies even cover the delay in the arrival of your baggage and extra expenses if your flight is cancelled or delayed. Medical expenses and emergency evacuation are also covered.

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A4: What is liability insurance?

You may be legally liable for any harm, loss or damage you cause to other people or their property. Insurance against these risks is divided into two categories:

• Statutory liability. If you have domestic helpers, you should compensate them for accidents or loss arising out of and in the course of their employment with you, even if the accident is caused by carelessness. An employees' compensation policy may cover medical expenses, loss of wages, permanent disablement, death and repatriation expenses. If you have a motor vehicle or a pleasure craft, you should also insure yourself against causing damage or injury to others or their property.
• Third-party liability. If you're a landlord, it is wise to insure yourself against any injury or loss to your tenant or third party while he/she is in your property. If you're a tenant, you can cover yourself for any damage, loss or injury to a third party in relation to the home you're renting, resulting from your negligence. Personal liability insurance will cover you for all non-statutory, third-party risks resulting from negligence, such as property damage or bodily injury you may cause when playing sports.

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A5: What types of life insurance are there?

No one likes to think about the possibility of a serious accident or death, so people often avoid thinking about life insurance. While life insurance protects your family should the worst happen, some policies can also provide an excellent way of saving for your future or your retirement. Depending on the type of insurance plan you have, you may get back what you put into a life insurance scheme with interest when the policy matures.

Some life insurance plans carry a savings element. Part of your premium is invested, often with a choice between a guaranteed return on your money or an investment linked to the performance of the financial market. Whole-life and endowment policies are policies that build up a cash value.

A whole-life policy will stay in force until you die, even if you live up to the age of 100, if you do not wish to cash it in earlier. An endowment policy, on the other hand, matures after a set term of, say, 20 or 30 years.

Both types of policy can accumulate substantial savings. Obviously, the earlier you start, the more you will earn from the policy by the time you retire.

A disablement cover is often attached to whole-life and endowment policies. A term life insurance policy is taken out for a fixed duration or term and will pay a lump sum if the policyholder dies during the term of the policy. The premiums are reasonable for this type of policy, but there is no savings element to it, so the policy will simply cease at the end of the term, with no payable cash value. A term life policy can be linked to a mortgage, whereby the benefits will decrease as the mortgage is paid off.

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A6: What kinds of insurance cover hospital care?

Anyone who has sought private medical care will know the high cost of treatment. Even if you're fit and healthy, it pays to protect yourself and your family. Even a broken finger can be costly to treat.

Health insurance. This will cover you if you need an operation or other hospital care. It will pay in full or in part for the room, medical services and medicines, surgeon's and anesthetist's fees, consultation and outpatient benefits.

Travel insurance. There's nothing worse than falling ill while you're on holiday, especially if you're on a remote island or in a country where you don't speak the local language. Travel insurance will pay for your medical and hospital expenses abroad, and with some policies you will be flown back to your home country for treatment.

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A7: How do I buy a policy?

Today's insurance companies are flexible and accommodating, and buying insurance is a simple procedure once you know what protection you need. Just tell your insurance company what risks you would like covered and the company will usually offer a plan to meet your needs.

When you have chosen a policy or policies, you will be asked to complete a proposal form. The details you give must be truthful and accurate because the premiums and the terms of the policy will be based on the information you provide. Inaccurate information could render the policy invalid and you would not be able to make a claim.

Once the insurance company has accepted your proposal form, an offer will be made to you. Upon acceptance, you will usually be covered within a very short time.

For each policy you have, you must be satisfied that you and your family are fully covered for all the risks you want to cover. Read the policy carefully to see if it meets your requirements. Check the list of exclusions to see what you are not covered for. If you find anything in it that is not what you expected, or that seems questionable, point it out to the insurer and ask for amendments. Some policies have a short review period. If you are not happy with the cover provided, you may return your policy within the review period for a full refund.

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A8: What do I need to do to manage my policy?

Make sure the sum insured is sufficient to cover your needs. Review the policy annually, before renewal, to ensure it keeps up with inflation.

Update your insurance cover regularly to reflect any material changes, such as:

• Additional purchases
• Change of occupation, address, etc
• Major changes in your health

Don't keep your insurance arrangements to yourself. Tell your spouse or best friend about your policies in case you are incapacitated when you want to make a claim.

An insurance policy is a legal document, so you must keep it in a safe place. And remember where you put it!

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A9: How much should my coverage be?

The value of your policy depends on what kind of policy it is. If you're insuring assets, then you must make sure you are covered for the replacement value of your possessions. For example, if your TV set is stolen, your insurance should cover the cost of buying a new one of exactly the same model.

If you're buying life or disability insurance, the amount you insure for depends largely on your needs and how much in premiums you are willing to spend after allowing for your lifestyle and other financial commitments.

Many companies offer packages with various levels of coverage. Simply weigh the insurance amount against the level of premium and then make your choice.

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A10: What should I do in the case of loss, damage or injury?

Take whatever steps are necessary to prevent further loss, damage or injury. Report to the police if your policy stipulates that you should. The police will complete a report with a reference number, which you may need when making a claim. Call your insurance company's hotline as soon as possible.

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A11: How do I make a claim?

You should contact your insurance company's claims department as soon as possible. You will then be asked to fill in a claim form and submit documentary evidence to support your claim:

• Invoices, receipts and/or estimates for property damage, loss or theft.
• Full medical evidence and receipts for medical treatment in the case of medical claims.
• Birth and death certificates for personal accident/life insurance policies where a death benefit is payable.

In liability cases, it is actually the third party who makes the claim so, to a large extent, the claim is out of the policyholder's hands. If the third party is efficient in providing information and evidence, the insurer is in a better position to offer payment to the third party

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Yes, non-HKID holders can apply for TravelSurance as long as the trip starts from, and returns to, the Hong Kong SAR. Please call (852) 2233-3130 or visit any HSBC branch in Hong Kong for application.

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A2: If I am going to study abroad, can I buy TravelSurance?

TravelSurance is specially designed for individuals who are travelling on a journey for leisure or business purpose. The journey should originate from the Hong Kong SAR and the period of travel is not longer than 180 days.

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A3: How can I extend the covered period when I am out of town? Can I do it over the phone?

Yes. Please call (852) 2583 8000 (during office hours) or the HSBC 24-Hour Worldwide Assistance Service Hotline (852) 2528 9333 before the covered period ends.

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TravelSurance covers various kinds of sports and activities provided you don't engage in such activities as a professional or in return for remuneration. For example, you are covered for dune driving, sand boarding, safari adventures, whale tours, hot springs, horse riding, cable cars, iceberg climbing, watching auto racing, water sports, skiing, ice-skating, biking, thrill rides at amusement parks etc. TravelSurance also covers hazardous sports activities such as bungee jumping, hang-gliding, parachuting, rafting, speed-boating, jet-skiing, trekking, scuba-diving (not beyond depth of 40 metres), mountaineering, rock-climbing etc.

The following sports and activities are excluded from TravelSurance: racing other than on foot, deep water diving (beyond depth of 40 metres), motor rallies and competitions, professional sports or sports in return for remuneration, aviation other than as a fare-paying passenger in a licensed aircraft operated by a recognised airline.

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A5: In case of emergency, how can I contact HSBC for assistance?

You can call the HSBC 24-Hour Worldwide Assistance Service Hotline free of charge from anywhere in the world on (852) 2528 9333 (in English, Cantonese or Mandarin) for emergency medical and evacuation assistance, travel information, baggage assistance, medical referrals, legal referrals and emergency ticketing.

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A6: Do I need to bear any policy excess?

You have to bear:

• the first HK$300 for any claim under "Baggage and Personal Effects";
• the first HK$200 for any claim under "Personal Money and Travel Documents", "Loss of Deposit or Cancellation" and "Curtailment of Journey";
• the first HK$200 for third party property claim for "Personal Liability".

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A7: Do I need to renew my MultiTrip TravelSurance before expiry?

Unless we have received any written notice of policy termination before the renewal date, the MultiTrip TravelSurance policy will be automatically renewed for one year provided that we have successfully debited the renewal premium from your HSBC account as specified in the application form / policy schedule.

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A8: Can I purchase a China Medical Card for my family members?

Yes. For internet applications, if any of the Insured Persons under Self & Spouse, Self & Children and Family plans are to be covered by the China Medical Card, all Insured Persons under that policy must apply for an individual card. If not all the Insured Persons require China Medical Card, please call (852) 2583 8000 or visit our branches for arrangement

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These two policies are different. HomeSurance protects household contents inside the house, such as furniture, electrical appliances, improved fixtures and fittings, etc, and personal belongings that you take when you're out of home.

Fire insurance covers the building structure such as walls, windows, ceiling, floor, pipes and the property's original fixtures and fittings. Fire insurance claims can be made for damage caused by fire and other named perils such as typhoon and landslide, explosion, etc.

Therefore, the covers are complementary. For comprehensive protection you should consider buying both insurance policies.

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In the event of a burst pipe, HomeSurance will cover:

• loss or damage of your household contents;
• cost of reasonable temporary accommodation whilst your home is uninhabitable due to damage of your household contents;
• cost of temporary storage of furniture.

If the pipe is your own improvement to the original fixture and its bursting is caused by accidental damage not specifically excluded under the policy, the relevant repair cost will also be covered.

If the water from the burst pipe damages another property, your personal liability for such damage will also be covered if you are held legally liable for the situation.

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A3: Will the interior decoration of my house be covered?

Scenario 1: Interior decoration is provided by developer

• as a landlord - cannot be covered under HomeSurance, it should be covered under your Fire Insurance.
• as a tenant - can be covered under HomeSurance if it is specified under the tenancy agreement that you are responsible for it.

Scenario 2: Interior decoration has been improved by you

• as a landlord or tenant - can be covered under HomeSurance as it is your own improvement.

Scenario 3: Interior decoration is bought from developer at additional cost as a package

Provided that the claimant can furnish evidence to prove such interior decoration was bought from the developer at extra costs:

• as a landlord - can be covered under HomeSurance. We will regard the decoration, fixture and fitting and furniture paid by additional money as part of your own improvement.
• as a tenant - can be covered under HomeSurance if it is specified under the tenancy agreement that you are responsible for it.

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A4: Most of my electrical appliances are fairly old. Will they be covered?

HomeSurance provides cover for accidental loss of or damage to household contents regardless of whether the insured items are new or old. Regarding the indemnity of the loss, they are covered on a "New For Old" basis, without any deduction for depreciation. If the appliances are stolen or beyond repair, they will be replaced by a new article of the same kind which is of similar but not better quality.

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A5: In the event of falling window frame, does HomeSurance cover me?

If someone is injured or their property is damaged by a window frame falling from your home, HomeSurance will indemnify you against your personal liability if you are held legally liable for the situation not being excluded under the policy. The personal liability benefit covers you against liability up to HK$10,000,000 in the event that the negligence of yourself, your family or your domestic helper results in accidental injury to a third party or damage to third party property.

For the damage of the window frame:

• if it is your own improvement and the falling is proved to be an accident not being excluded under the policy, such loss will be covered under HomeSurance;
• if the window is an original fixture, you can make a claim under Fire Insurance provided that the falling is caused by the named perils.

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A6: What isn't covered under this policy? Are there any excesses for claims?

General policy exclusions:

• Theft or malicious damage if your home is unoccupied for more than 30 consecutive days;
• Theft in your home if any part is let;
• Loss of or damage to spectacles, contact lenses, portable/mobile phones, pagers, records, recording tapes, laser discs, sports equipment while in use, etc;
• Theft from any unattended, convertible or open vehicle;
• Belongings in or on verandas, balconies, patios, terraces and forecourts which are generally in the open;
• Fixtures and fittings except tenants/leasehold/landlord improvements;
• Loss or damage due to wear and tear, moths, woodworm, beetle or other insects and vermin;
• Loss or damage due to fungus, rot, damp, rust, corrosion or any other atmospheric or climatic condition;
• Loss or damage due to misuse or use contrary to manufacturer's instructions;
• Loss or damage due to scratching of glass faces on watches or clocks;
• Loss or damage due to any process of cleaning, dyeing, alteration, repairing, maintaining, renovation or restoring.

Excess where applicable:

1. Household Contents and Worldwide 'All Risks' Benefits:

• Water damage claim: the first HK$1,000 of each claim (apart from Additional Covers "Alternative Accommodation", "Storage of Furniture" and "Removal of Debris").
• Non-water damage claim: Plan A - the first HK$300 of each claim; Plan B and Plan C - the first HK$500 of each claim (apart from Additional Covers "Alternative Accommodation", "Storage of Furniture" and "Removal of Debris").

2. Golfer Insurance: the first HK$500 of each claim (not applicable to "Hole in One" benefit).

3. Loss of Rent Insurance: the first two weeks' rent.

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A7: How do you determine the value of my possessions when I submit the claim?

The claim payment for loss of contents follows the "New For Old" basis under which any property which is stolen or damaged beyond repair will be replaced with a new article of the same kind which is of similar but not better quality. The cost of repairing any damaged property is also covered. It will be easier to determine the value if you can provide us the purchase invoices, receipts or the repair quotations of the possessions.

If an article which is part of a pair or set is lost or damaged, the measure of loss shall be a reasonable and fair proportion of the total value of the pair or set, giving consideration to the importance of the article.

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A1: How do you classify an incident as an Accident?

An accident is an unexpected, unforeseeable and external event, such as a fall or a car crash, which causes physical injury like a broken limb or torn muscle. A disease or an illness is not classified as an accident.

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If you sustain an accidental injury, such as a broken arm, this insurance plan will cover you for any necessary and reasonable expenses incurred for in-hospital and outpatient medical, surgical or nursing treatment, including the costs of medical supplies, ambulance hire or professional home-nursing fees. However, the cost of dental care and treatment is not covered unless such treatment is an emergency and is caused by accidental injury to sound natural teeth.

As sickness is not classified as an accident, the medical expenses incurred cannot be covered under this plan.

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A3: My son is planning to study abroad for a few years. Can he be covered under the policy?

The insured person must be resident in Hong Kong at the time of their application. If they subsequently live abroad for a continued period or study overseas, they will still be covered under AccidentSurance.

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Yes, supporting staff of the Hong Kong Police Force are covered under the plan during working hours provided that they are carrying out clerical duties. However, if you take up an operational role, you will no longer be covered for any accident incurred at the time of carrying out duties.

You are not required to inform us of any change of occupation. However we advise you to review whether your new job is classified as one of the excluded occupations under the policy exclusion.

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A5: Is any proof required when I submit a claim?

You are required to fill in a claim form and submit documentary evidence (at your expense) to support the claim:

• For claims of accidental death or injury benefits, the claimant has to submit reports such as medical reports, attending physician's report, police reports, death certificate, the coroner's report and other related documents;
• For claims of medical expenses or Chinese bonesetter expenses, the claimant has to submit full medical evidence, original receipts and other related documents of medical treatment.

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No, we will only be liable for the excess of the amount recoverable from another source. However, the cash benefit for accidental death and disability will not be affected by other insurance covers.

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No, AccidentSurance excludes accidental injury or accidental death directly or indirectly caused by or resulting from motorcycling and other listed hazardous activities.

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A8: Does AccidentSurance cover acupuncture, Chinese herbal treatment and dental treatment costs?

The insurance plan provides cover for Chinese bonesetter expenses and emergency dental treatment caused by accidental injury to sound natural teeth only, but does not cover the cost of acupuncture and Chinese herbal treatment.

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Pre-existing conditions are commonly excluded in medical and hospitalisation policies because it is not the insurer's intention to cover the cost of an existing condition. Therefore, it is usual to exclude injuries or sicknesses which occur, exist, commence or present signs or symptoms before the commencement of the policy coverage. The definition of pre-existing condition is defined in the policy document. Please refer to the policy for details.

The sickness listed as exclusions are mostly common chronic illnesses which normally require a development period ranging from six months to one year. Some diseases require a longer range of development cycle to develop symptoms than others. In general, those illnesses excluded during the first year are believed to have a longer development period (e.g. Tumours of internal organs).

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A2: What is the waiting period?

Medical insurance normally has a term "waiting period" which means no coverage on any illnesses will be offered during that period. To provide you with instant protection, our HospitalSurance does not have waiting period. However, for illnesses that are identified as exclusion at the inception of policy will not be covered at any time within the policy period.

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A3: Why is hospitalisation covered only if there is treatment involved?

The plan aims to cover those who are hospitalised due to sickness or injuries and therefore treatment must be involved.

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If your surgical expenses have been fully reimbursed by a third party, you will not receive further reimbursement from HospitalSurance under surgical benefit. However, you are still entitled to daily hospital cash benefit if you are hospitalised due to a covered medical condition.

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A5: Is medical examination required?

Applying for HospitalSurance is simple and easy. You are not required to have medical check-up which means you are free from any additional medical check-up fee.

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A6: How do I get my 30% no claim bonus?

If you have not made a claim for five consecutive years, you will receive a cash refund of 30% of the premiums you have paid. This refund will be credited automatically to the account which you have used to pay your premiums.

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A7: Does the coverage include hospitals outside Hong Kong?

If you are away from Hong Kong for less than 90 days at the time of your hospitalisation, you will be covered at any hospital anywhere in the world as long as the hospital is legally constituted and registered.

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A8: Is hospitalisation in relation to pregnancy covered under the policy?

No. Any claims in respect of pregnancy, childbirth (including diagnostic tests for pregnancy and surgical delivery), miscarriage, abortion and pre-natal or postnatal care are excluded

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Q1:Can the same Insured Person apply for more than one Refundable HospitalSurance policy?

Each Insured Person can only apply for ONE Refundable HospitalSurance or HospitalSurance policy.

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Q2: Can I apply for a family plan?

Family plan is not available under Refundable HospitalSurance. However, as applicant, you can apply for your spouse or children with each insured person covered under an individual Refundable HospitalSurance policy.

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Q3:Is there any waiting period before the Insured can enjoy the protection?

There is no waiting period. Application is instantly approved and the Insured can enjoy immediate protection. However, the policy contains provision on pre-existing medical conditions, please refer to the policy for details.

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Q4:How does the premium waiver work?

If an Insured Person unfortunately suffers total permanent disability and remains disabled for over 183 days, he/she can continue to enjoy the protection for the remaining policy period with premium waived. If the Insured Person is a child, premium waiver will apply if the policyholder suffers total permanent disability.

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Q5:Will the refund amount be affected if the Insured has made claims?

The premium refund will not be affected whether the Insured has made any claims or not. Upon policy termination/maturity, the calculation of refund amount will be based on the policy in-force period and the relevant refund % as stated in the policy.

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Q6: If the policy is surrendered at times during a policy year, e.g. 6 years and 2 months, how will the premium refund be calculated?

The premium refund is calculated as a % of total premium paid according to the premium refund schedule. If an Insured Person terminates the policy any time during the policy year, the % will be determined by the latest policy year that the policy has completed before termination. In this case, the cash refund will be 35% (completed 6th year) of the total premium paid.

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Q7:Is the renewal guaranteed?

Renewal is not guaranteed. Renewal notice will be sent to applicant before policy expiry. The renewal decision will be subject to the Insurance Company's underwriting decision.

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Q8: If I would like to replace my existing HospitalSurance with Refundable HospitalSurance, do I need to undergo any underwriting?

Please note that underwriting will be required for application of the Refundable HospitalSurance even as replacement for the existing HospitalSurance and any pre-existing conditions upon application will be excluded.

An Insured Person can only be insured under either HospitalSurance or Refundable HospitalSurance. You are suggested to review your own protection needs and the condition of no claims refund of HospitalSurance before making any policy replacement. For customers who replace their existing HospitalSurance with Refundable HospitalSurance, there will be no pro-rata payment of the no claims refund under HospitalSurance.

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A1: Will my claim history affect the renewability of my policy? Will the premium remain the same regardless of my age?

Renewal is guaranteed for life, except where there has been abuse of cover, overdue payments or shortfall arising from a claim or deceptive claims. However, the premium rates and age groups are not guaranteed. The premium payable upon renewal and the terms of any renewal may not be the same as the expiring policy and will be determined by HSBC Insurance (Asia) Limited.

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A2: Why are pre-existing conditions not covered?

Pre-existing conditions are commonly excluded in medical and hospitalisation policies because it is not the insurer's intention to cover the cost of an existing condition. So it is common to exclude injuries or sicknesses which occur, exist, commence or present signs or symptoms before the commencement of policy coverage. The definition of a pre-existing condition is defined in the policy document. Please refer to the policy for details.

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A3: Does overseas in-patient coverage only apply to emergencies? What if I immigrate to another country?

Overseas treatment is covered under hospital & surgical benefit, except in the case of the optional Supplementary Major Medical benefit where it will only cover accident or emergency situations. The cover is intended for occasional overseas visits, as different countries have different treatment costs. If you immigrate to another country you may need to see if the coverage is adequate for you, and this is likely to depend on the country in which you have chosen to live.

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A4: Do I need to make advance payment before admitted to a hospital?

For hospitalisation in Hong Kong private hospitals, we advise you to contact us first. If you enrolled in Basic, Essential or Privilege Plan, we will provide a letter of credit facility so that you will not need to make any payment in advance to the hospital. This credit facility service is available to Basic, Essential and Privilege Plans. If you have selected the Supplementary Major Medical Benefit option under the Privilege Plan, you can simply present your medical card on hospital admission. No prior authorization is required, and we will settle the hospital bill for you. If you receive treatment in another country or are not able to obtain the letter of credit facility, then you will have to settle the bill first and claim reimbursement from us later.

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The policy does not cover medical expenses arising from hospitalisation primarily for investigation or physiotherapy. For it to be a legitimate claim, you must receive therapeutic treatment during the hospitalisation in addition to the investigation.

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A renewal notice will be sent to you around one and a half month before expiry. If you decide not to renew the policy, you will need to inform us one month before expiry, or the policy will be renewed automatically. For termination of coverage for any member under a policy after renewal, premium will be refunded on a pro-rata basis.

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A7: How long do I have to stay in a hospital to qualify for a claim?

It depends on the nature of the hospital treatment. For surgical cases, no minimum confinement is required; in other cases, you are required to register as an inpatient in the hospital for at least 12 consecutive hours.

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Unlike other investment savings plans, LifeInvest Protection Plus / RetireInvest Protection Plus combines investment opportunity with the benefits of valuable life covers. Part of the premium will be used to pay for the insurance cover.

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Risk-taking ability and attitude towards investment vary by individual. Our risk profiling questionnaire will help you identify how tolerant you are to investment risk and this will assist you in choosing appropriate investment funds. Each fund carries a different level of investment risk and potential return, please contact our Wealth Management Manager / Premier Relationship Manager for the risk rating of each fund.

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You will receive an annual statement showing full details of the plan and how your investment is progressing. You can calculate the value of your holdings with updated daily fund prices at www.hsbc.com.hk.

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No. But the minimum switching limit per fund is HK$400/US$50.

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LifeInvest Protection Plus / RetireInvest Protection Plus allows you to choose when you want to receive the proceeds of your investment. You can enjoy the benefits as a lump sum, a regular payout or a mixture of the two, up to a maximum of 90% of the cash value. Each withdrawal is subject to a minimum of HK$400/US$50(monthly) or HK$4,800/US$600(annually).

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As long as the remaining cash value is sufficient to cover the charges related to your policy, your policy will be kept in force without premium payment. If your policy holds a negative cash value balance for 45 consecutive days, and the guaranteed coverage privilege is no longer in effect, your policy will lapse automatically.

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If you surrender the policy before the end of the policy term, you will receive the surrender value. This is the market value of all the funds held under your policy (less any outstanding policy loan and interest). But remember, the plan is a medium to long-term investment. Investment involves risk and a full surrender made in early years may bring you a loss.

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Our Wealth Management Manager / Premier Relationship Manager will go through the following documents before you apply for the plan. It is important to read these documents and understand the product before making an application:

• A Principal Brochure (including Fund Insert) describing the key benefits and features of the plan
• A proposal illustration showing the projected total surrender values and the projected total death benefits of the plan
• A Financial Planning Report with the suggested plan and rationale for the recommendation
• The Terms and Conditions of the policy.

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Upon policy issuance and receipt of the full premium payment and after the deduction of the required charge, the transaction will be processed 2 days later based on the unit price in the following transaction day after policy issues.

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LifeInvest Protection Plus / RetireInvest Protection Plus funds are set up as internal funds managed by the insurance company. The premium received by the insurance company net of the required charges will be invested into the underlying investment funds. Both LifeInvest Protection Plus / RetireInvest Protection Plus funds and the underlying investment funds carry the same investment objectives, but the difference of the management fee and charge structure of these two types of funds produces different unit prices.

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As with all life insurance plans, you can review your policy and decide whether the plan is suitable for your needs within the cooling-off period (21 days from the date of the application, 14 days from the date of issue of the policy or five days from the date of delivery of the policy/a Notice informing you/your representative about the availability of the policy and the expiry date of the cooling-off period, whichever is later). If you decide not to take out the plan within the cooling-off period, we will refund all premiums you have paid subject to the market value adjustment i.e. the difference between the original premium paid and the value of the fund(s) realised before charges at the time your cancellation letter is received by us.

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Normally the policy will come into effect in no more than five working days upon receipt of all the necessary documents.

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Investment involves risk. For charges and details, please refer to the relevant prinicipal brochure(s).

No. Lifetime Protection Plus is a life insurance plan that gives you protection for the whole of your life. In addition, it has a savings element that provides you with a guaranteed cash return to help you achieve your target savings.

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The policy is paid up at maturity and you can access its cash value when the policy matures. However, you are allowed to withdraw any accumulated dividends whenever you want. In addition you can borrow from the plan before it reaches maturity, provided that the amount does not exceed 90% of the total value of the plan, less any previous unpaid borrowed amount. The interest rate will be advised at the time of the borrowing.

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You can get back the guaranteed cash value plus any dividends accrued (plus the balance of a single payment subject to a surrender charge for single payment policies). Please note that If you cash in or surrender your policy before the maturity date, the amount you get back may be less than the premiums you have paid.

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The insurance charge is determined according to your age, gender and whether you smoke or not.

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The dividend is declared by us annually, based on the insurance company's overall business performance and investment return. Therefore it is not guaranteed.

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Our Wealth Management Manager / Premier Relationship Manager will go through the following documents before you apply for the plan. It is important to read these documents and understand the product before making your purchase:

• A product brochure which describes the key benefits and features of the plan
• A proposal illustration which shows both the guaranteed and non-guaranteed cash value and the required premiums of the plan
• A Financial Planning Report with suggested plan and rationale for the recommendation
• The Terms and Conditions of the policy.

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As with all life insurance plans, you can review your policy and decide whether the plan is suitable for your needs within the cooling-off period. If you decide not to take out the plan within the cooling-off period, we will refund all premiums you have paid. In the case of a single payment policy, the refund will be adjusted by the amount by which the value of the investment for this single payment has fallen at the time your cancellation letter is received by us.

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The single payment option allows you to pay all the required premiums at a discounted value. The money will be locked into an investment to ensure the premiums paid together with the projected investment return will be sufficient for future payments. Therefore you cannot withdraw the balance of a single payment unless you surrender the policy, for which a surrender charge will be imposed before the refund. You are recommended to choose the payment term which best fits your financial arrangement.

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There is a 30-day grace period for missed premiums. If you cannot make the payment within the grace period, we will then treat the cash value of your policy as a policy loan to cover the payment. The interest rate will be advised at the time of borrowing. When the net cash value is not adequate to cover the outstanding premiums, then the policy will change to Extended Term Insurance and all riders will terminate. The policy will terminate at the end of the term.

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You will receive an annual statement showing updated policy values. You can also access the details of your policy online at www.hsbc.com.hk if you are an HSBC Internet Banking customer, or contact us on 2583 8000.

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Yes. You can change your payment frequency when the payment is due.

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No. Target Protection Plus is a life insurance plan. It provides you with a higher savings element and a guaranteed cash return to help you achieve your saving target over a certain period. The plan also provides you with life protection so you can save with peace of mind.

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The policy is paid up at maturity and you can access its cash value when the policy matures. However, you are allowed to withdraw any accumulated dividends whenever you want. In addition you can borrow from the plan before it reaches maturity, provided that the amount does not exceed 90% of the total value of the plan, less any previous unpaid borrowed amount. The interest rate will be advised at the time of the borrowing.

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You will get the guaranteed cash value plus any dividends accrued (plus the balance of the single payment subject to a surrender charge for single premium policies). Please note that If you cash in or surrender your policy before the maturity date, the amount you get back may be less than the premiums you have paid.

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The dividend is declared by us annually, based on the insurance company's overall business performance and investment return. Therefore it is not guaranteed.

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Our Wealth Management Manager / Premier Relationship Manager will go through the following documents before you apply for the plan. It is important to read these documents and understand the product before making an application:

• A product brochure which describes the key benefits and features of the plan
• A proposal illustration which shows both the guaranteed and non-guaranteed cash value and the required premiums of the plan
• A Financial Planning Report with suggested plan and rationale for the recommendation
• The Terms and Conditions of the policy.

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As with all life insurance plans, you can review your policy and decide whether the plan is suitable for your needs within the cooling-off period. If you decide not to take out the plan within the cooling-off period, we will refund all premiums you have paid. In case of a single payment policy, the refund will be adjusted by the amount by which the value of the investment for this single payment has fallen at the time when your cancellation letter is received by us.

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The single payment option allows you to pay all the required premiums at a discounted value. The money will be locked into an investment to ensure the premiums paid, together with the projected investment return, will be sufficient for future payments. Therefore you cannot withdraw the balance of a single payment unless you surrender the policy for which a surrender charge will be imposed before the refund. You are recommended to choose the payment term which best fits your financial arrangement.

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There is a 30-day grace period for missed premiums. If you cannot make the payment within the grace period, we will then treat the cash value of your policy as a policy loan to cover the payment. The interest rate will be advised at the time of borrowing. When the net cash value is not adequate to cover the outstanding premiums, then the policy will change to Extended Term Insurance and all riders will terminate. The policy will terminate at the end of the term.

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You will receive an annual statement showing updated policy values. You can also access the details of your policy online at www.hsbc.com.hk if you are an HSBC internet banking customer, or contact us on 2583 8000.

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No. Lifestyle series is a life insurance plan that gives you protection for the whole of your life, with higher savings element.

• Lifestyle Protection Plus provides a periodical payments of a guaranteed cash bonus that help to build up savings providing you with a guaranteed cash return to achieve your goals.
• Lifestyle Retirement Protection Plus pays a guaranteed cash bonus at the selected retirement age that helps you to build up savings to provide you with a guaranteed cash return to achieve your retirement plan.
• Lifestyle Education Protection Plus provides a periodical payments of a guaranteed cash bonus over four years when your child reaches 18 that provide the cash to pay for your child's education.

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Lifestyle series is a whole life plan with higher savings element. Guaranteed savings paid to you can be withdrawn at any time.

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The policy is paid up at maturity and you can access its cash value when the policy matures. However, you are allowed to withdraw any accumulated cash bonus and / or dividends whenever you want. In addition you can borrow from the plan before it reaches maturity provided that the amount does not exceed 90% of the total value of the plan, less any previous unpaid borrowed amount. The interest rate will be advised at the time of the borrowing.

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You can get back the guaranteed cash value plus any dividends accrued plus any guaranteed cash bonus (plus the balance of a single payment subject to a surrender charge for single payment policies). Please note that if you cash in or surrender your policy before the maturity date, the amount you get back may be less than the premiums you have paid.

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Cash bonuses are guaranteed according to the payment schedule. Dividends are not guaranteed and may change from time to time.

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The dividend is declared by us annually, based on the insurance company's overall business performance and investment return. Therefore it is not guaranteed.

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Our Wealth Management Manager / Premier Relationship Manager will go through the following documents before you apply for the plan. It is important to read these documents and understand the product before making your purchase:

• A product brochure which describes the key benefits and features of the plan
• A proposal illustration which shows both the guaranteed and non-guaranteed cash value and the required premiums of the plan
• A Financial Planning Report with suggested plan and rationale for the recommendation
• The Terms and Conditions of the policy.

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As with all life insurance plans, you can review your policy and decide whether the plan is suitable for your needs within the cooling-off period. If you decide not to take out the plan within the cooling-off period, we will refund all premiums you have paid. In the case of a single payment policy, the refund will be adjusted by the amount by which the value of the investment for this single payment has fallen at the time your cancellation letter is received by us.

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The single payment option allows you to pay all the required premiums at a discounted value. The money will be locked into an investment to ensure the premiums paid, together with the projected investment return, will be sufficient for future payments. Therefore you cannot withdraw the balance of a single payment unless you surrender the policy, for which a surrender charge will be imposed before the refund. You are recommended to choose the payment term which best fits your financial arrangement.

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There is a 30-day grace period for missed premiums. If you cannot make the payment within the grace period, we will then treat the cash value of your policy as a policy loan to cover the payment. The interest rate will be advised at the time of borrowing. When the net cash value is not adequate to cover the outstanding premiums, then the policy will change to Extended Term Insurance and all riders will terminate. The policy will terminate at the end of the term.

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You will receive an annual statement showing updated policy values. You can also access the details of your policy online at www.hsbc.com.hk if you are an HSBC Internet Banking customer, or contact us on 2583 8000.

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RetireEnrich Protection Plus is especially designed for people who want to provide effectively for their retirement. It differs from a pure savings plan in that it includes life insurance cover and during the accumulation period, in the event of death, death benefits payable will be at least the amount of the total premium paid.

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If you cancel the policy before the end of the policy term, you will receive the surrender value. This is the sum of the guaranteed cash value, any accumulated dividend, any accumulated guaranteed retirement bonus and any accumulated annuity payment (less any surrender charge). Please note that early surrender may result in you getting back less than what you have paid into the policy.

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No.

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The single payment option allows you to pay all the required premiums at a discounted value. The money will be locked into an investment to ensure the premiums paid together with the projected investment return will be sufficient for future payment. Therefore, you cannot withdraw the balance of a single payment unless you surrender the policy, for which a surrender charge will be imposed before the refund. You are recommended to choose the payment term which best fits your financial arrangement.

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There is a 30-day grace period for missed premiums. If you cannot make the payment within the grace period, we will then treat the cash value of your policy as a policy loan to cover the payment. The interest rate will be advised at the time of borrowing.

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The annuity payment is consisted of guaranteed and non-guaranteed payment. The non-guaranteed annuity payment is determined by the amount of dividends accumulated by the end of the accumulation period and any projected dividend payable during the annuity period.

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As the monthly non-guaranteed annuity payment is mainly derived from the accumulated dividends, if you withdraw any dividend, the projected monthly non-guaranteed annuity payment will be adjusted downwards accordingly.

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No.

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We will send you an annual statement with detailed information each year.

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LifeSave Protection Plan (Lifetime Medical) is an insurance plan combining medical and life cover with savings elements, designed for customers who want to plan for their medical protection during retirement. Different from the ordinary medical plans, LifeSave Protection Plan (Lifetime Medical) allows you to pay up the policy before the selected retirement age and pays out a cash benefit if any insured events happen, instead of on a reimbursement basis. Most importantly, your insurability and premium are guaranteed regardless of your health condition as you get older. The ability to top up your medical cover could fill the gap that the ordinary medical plans cannot meet.

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Once you have determined the sum insured at the time of application, a Medical Account with an amount equal to the sum insured will come into effect as your lifetime medical reserve. The benefit amount payable is in a percentage of the sum insured. Any amount you claim will be deducted from your Medical Account, with the balance of your account being equivalent to the sum insured minus the total of any claim payments made. You can enjoy the medical and life protection as long as your Medical Account carries a positive balance until the age of 99, regardless of your state of health. Even if the Medical Account balance is reduced to zero, the policy savings will continue to grow.

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The classification of surgery is listed in the Classification Schedule of Surgical Operations of the policy. We will send the Classification Schedule to you together with your policy document. We reserve the final decision on the classification of surgery and have the absolute discretion to classify surgeries which are not set out in the Classification Schedule. We may revise or amend the Classification Schedule as appropriate or necessary from time to time without prior notice. The following are the common surgeries and their classification (for reference only):

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Every 24 consecutive hours that a Life Insured person stays in a hospital will be regarded as one-day hospital confinement. If the confinement duration is not less than 18 hours and a daily charge for room and board by the hospital is incurred, it will be regarded as the first day of hospital confinement.

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"Hospital confinement" or "hospitalisation" refers to a period of continuous confinement in a hospital before discharge, where the confinement duration is not less than 18 hours and a charge for daily room and board by the hospital is incurred. No benefit will be payable if the surgery occurs in a clinic or the outpatient department in a hospital.

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Under normal circumstances, you should submit the claim application to us within 90 days after the diagnosis of the covered major illnesses, within 60 days after completion of surgery treatment or radiotherapy/chemotherapy or hospitalisation.

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If you cancel the policy before the end of the policy term, you will receive the surrender value. This is the sum of the guaranteed cash value (less any amount claimed), any accumulated dividends and guaranteed retirement bonus. Please note that early surrender may result in your getting back less than what you have paid into the policy.

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The single payment option allows you to pay all the required premiums at a discounted value. The money will be locked into an investment to ensure the premiums paid together with the projected investment return will be sufficient for future payment. Therefore, you cannot withdraw the balance of a single payment unless you surrender the policy. The surrender charge will be imposed before the refund. You are recommended to choose the payment term that best fits your financial arrangement.

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There is a 30-day grace period for missed premiums. If you cannot make the payment within the grace period, we will then treat the cash value of your policy as a policy loan to cover the payment.

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The policy dividends and the guaranteed retirement bonus are payable in addition to the medical benefits payable, so withdrawal of any dividends or the guaranteed retirement bonus will not affect your Medical Account.

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We will send you an annual statement with detailed information each year.

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Yes, the waiting period is 90 days from the policy date or the effective date of last reinstatement (whichever is later) for major illness benefit. Major illness benefit shall not be payable at any time under this policy if the major illness, the signs or symptoms of which or the diagnosis of which first occurred within the waiting period.

For unemployment benefit, the waiting period is 6 months from the policy date or issue date or the effective date of last reinstatement (whichever is later). The Life Insured is not eligible to claim this benefit if the unemployment commences within the waiting period.

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A lump sum will be paid to you if you survive for at least 30 days after the confirmed diagnosis of any covered major illness.

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Major illness medical expenses cover related medical expenses due to treatment of the major illness being claimed and which are provided by a Registered Medical Practitioner or Chinese Herbalist, which will be paid by reimbursement. The covered items include:

• Professional charges and treatment expenses of a Registered Medical Practitioner
• Professional charges and treatment expenses of a Chinese Herbalist
• Medical expenses charged by hospital
• Cost for medical check-up
• X-ray and/or other laboratory test
• Cost of medicine and drugs
• Fees for physiotherapy
• Charges for ambulance transportation
• Cost of dressing, braces, supports, splints, plaster casts and rental of any instrument for treatment

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If there are no claims, premium refund will become available for policy termination occurring after completion of the second policy year or upon policy maturity. The premium refund amount is calculated according to the "Premium Refund Percentage Table".

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If there are no claims and the policy is terminated after the second policy year due to non-payment of premiums within the grace period premium refund will become payable, please refer to the "Premium Refund Percentage Table".

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The beneficiary of the policy will be defaulted to the policyholder's estate when the policy is issued. If the Policyholder would like to designate a beneficiary, please complete and return the form "Request for Policy Change - Non Financial" for arrangement. An acknowledgement will be sent for confirmation