Log on to HSBC Internet Banking

Log On

Find out more  |  Register


Life Insurance Products at a glance


WholeLife
Protection Plan
Lifestyle
Protection Plus
Target
Protection Plus
WealthInvest
Insurance Plan^
Refundable Protection Plan (Major Illness)
Term Life Insurance (Refundable Premium)
Term
Protection Plan
Life protection
Protection period
Whole life
Whole life

Limited term (from 10 to 30 years or up to age 18)

Whole life~
Up to age 60
Up to age 60
Up to age 80
Policy savings
Guaranteed savings
Guaranteed Cash Value

Guaranteed
Cash Value + Guaranteed Cash Bonus equivalent to 10% of Sum Insured payable once every 5 years


Guaranteed
Cash Value + Guaranteed Cash Bonus equivalent to 10% of Sum Insured payable at the end of the term

No^
No
No
No
Non-guaranteed savings
Annual Dividends
Annual Dividends
Annual Dividends
Balance of investment choices + Startup Bonus* + Special Bonus¤ + Loyalty Bonus+
No
No
No

~ Guaranteed Coverage Privilege is up to age 65 (based on next birthday).
* Startup Bonus is payable upon receipt of premium in the first policy year.
¤ Special Bonus is payable at 5th and 10th policy anniversaries (for 5-year Premium Payment Period option) /10th policy anniversary (for 10-year Premium Payment Period option)
+ Loyalty Bonus is payable at each anniversary from 11th policy anniversary.
*¤+ All 3 bonuses are subject to relevant terms and conditions. Reducing premium, taking a premium holiday or withdrawing may affect bonus entitlement.
^ WealthInvest Insurance Plan is an investment-linked insurance plan. It is authorised by the Securities and Futures Commission. Such authorisation does not imply official recommendation. Investment involves risk. For details including charges and risk factors, please refer to the relevant Principal Brochure.

Back to top


Product/Principal Brochures


Back to top




Retirement Insurance Products at a glance


RetireIncome
Annuity Plan
Lifestyle Retirement
Protection Plus
LifeSave Protection Plan (Lifetime Medical)+
Retirement fund
Lump sum payment
Guaranteed Retirement Bonus^ payable at the end of
the accumulation period
Guaranteed Cash Bonus equivalent to 50% of
Sum Insured payable
at selected retirement age
Guaranteed Retirement Bonus equivalent to 10% of the Sum Insured at the chosen retirement age
Regular payment
Monthly annuity payment for
10 years
N/A
N/A
Life protection
Protection period
Accumulation period of
8, 10 years or up to
age 55, + Annuity period of
10 years
Whole life
Whole life

^ Guaranteed Retirement Bonus is equivalent to the monthly guaranteed annuity payment multiplied by the number of years of the annuity period.
+ LifeSave Protection Plan (Lifetime Medical) also provides various medical benefits. For details, please refer to the relevant principal brochure.

Back to top




Policy dividend


HSBC Life (International) Limited ("HSBC Life") issues dividend-paying policies, which are life insurance contracts providing both guaranteed and non-guaranteed benefits. The guaranteed benefits include some or all of the following benefits: 1) guaranteed death benefits, 2) guaranteed cash values, 3) guaranteed annuity payment and 4) guaranteed maturity values. The non-guaranteed benefits comprise policy dividends, which may be paid or varied at the discretion of HSBC Life.

Policy dividends allow policyholders to participate in the financial performance of the life insurance operation. Whether dividends are paid and the size of the dividends which an insurer distributes or pays to its customers depends on how well it has performed with regard to investment returns on the assets supporting those policies, as well as its performance managing other financial matters such as claims, persistency and expenses. If the performance over the long term is better than expected, then dividends paid would increase and if performance is worse than expected then dividends paid would reduce.

HSBC Life operates a relatively conservative investment policy in order to secure the guaranteed benefit and to protect the dividend-paying policies from frequent adjustment of non-guaranteed benefit. The assets supporting the dividend-paying policies consist predominantly of fixed interest securities issued by government and corporate entities with good credit quality. Equity-type investments managed on a prudent basis are also utilized in order to enhance the investment performance in the long run. The exposure to equity-type assets is normally within the range of 0% to 20%.

HSBC Life adjusts the level of dividends payable to policyholders depending on both the actual performance and also management's expectation of the long term future performance in relation to the assets referred to in the previous paragraph. The company operates a smoothing philosophy in relation to the policyholder dividends payable, so the level of dividends will only be changed if the actual performance is significantly different from expected over a period of time or if management's expectation of the long term future performance changes. Policyholders can choose to accept their dividends either in cash or to leave them on deposit with HSBC Life and receive a credited interest at a rate decided by HSBC Life.

The main advantage of dividend-paying policies over other forms of insurance contract is that in addition to the guaranteed benefits receivable, policyholders will also benefit from additional dividend payments if the insurance company's performance is better than that required to support the underlying guarantees. The better the performance the greater the dividend payments, and conversely the worse the performance, the lower the dividend payments.

Certain dividend-paying policies sold on a tranche basis over a limited period are managed differently from the other dividend-paying policies mentioned above, which is in accordance with the specific dividend structure offered under those policies. The level of dividends payable will largely depend on the performance of the underlying investment portfolio as the contributions from other financial matters would usually be very small under this type of dividend-paying policies. Also, the majority of the policy dividends are payable as a lump sum at policy maturity date instead of payable annually at each policy anniversary date.

Back to top