Fees and charges summary of Life Insurance Products

Life Insurance Products

For life insurance products, part of the premium pays for the insurance and related costs.

For the single payment of the below insurance plans, if you cancel the policy or partial surrender the policy during the policy term, the balance of single payment will be paid subject to a surrender charge at a rate determined by HSBC Life (International) Limited from time to time. The charge rates below are for reference only. The actual surrender charge rate may be different from the rate shown in the table below.

Lifestyle Wealth Protection Plus
Fees for Lifestyle Wealth Protection Plus

By end of policy year

1

2

3

4

5

6-10

5-year payment term

10%

8%

6%

4%

2%

 
Lifestyle Wealth Protection Plus
Fees for Lifestyle Wealth Protection Plus

By end of policy year

5-year payment term

1

10%

2

8%

3

6%

4

4%

5

2%

6-10

 
WholeLife Protection Plan
Fees for WholeLife Protection Plan

By end of policy year

1

2

3

4

5

6-9

10

5-year payment term

10%

8%

6%

4%

 
 
 

10-year payment term

20%

18%

16%

14%

12%

5%

 

Other payment term

20%

18%

16%

14%

12%

5%

5%

WholeLife Protection Plan
Fees for WholeLife Protection Plan

By end of policy year

5-year payment term

1

10%

2

8%

3

6%

4

4%

5

 

6-9

 

10

 

By end of policy year

10-year payment term

1

20%

2

18%

3

16%

4

14%

5

12%

6-9

5%

10

 

By end of policy year

Other payment term

1

20%

2

18%

3

16%

4

14%

5

12%

6-9

5%

10

5%

Target Protection Plus
Fees for Target Protection Plus

By end of policy year

1

2

3

4

5

6-10

5-year payment term

10%

8%

6%

4%

2%  
Target Protection Plus
Fees for Target Protection Plus

By end of policy year

5-year payment term

1

10%

2

8%

3

6%

4

4%

5

2%

6-10

 
EarlyIncome Annuity Plan
Fees for EarlyIncome Annuity Plan

By end of policy year

1

2

3 or after

3-year payment term

6%

4%

 
EarlyIncome Annuity Plan
Fees for EarlyIncome Annuity Plan

By end of policy year

3-year payment term

1

6%

2

4%

3 or after

 

For the below insurance plans, if you cancel the policy during the policy term, the account value can be reduced subject to a surrender charge at a fixed rate determined by HSBC Life (International) Limited.

Goal Access Universal Life Plan (Protection)
Fees for Goal Access Universal Life Plan (Protection)

During Policy Year

Surrender Charge rate for Single premium

Surrender Charge rate for 5-year premium payment

1

11%

45%

2

10%

20%

3

9%

13%

4

8%

10%

5

6%

6%

6

5%

5%

7

4%

4%

8

3%

3%

9

2%

2%

10

1%

1%

11 and thereafter

0%

0%

Goal Access Universal Life Plan (Protection)
Fees for Goal Access Universal Life Plan (Protection)

During Policy Year

1

Surrender Charge rate for Single premium

11%

Surrender Charge rate for 5-year premium payment

45%

During Policy Year

2

Surrender Charge rate for Single premium

10%

Surrender Charge rate for 5-year premium payment

20%

During Policy Year

3

Surrender Charge rate for Single premium

9%

Surrender Charge rate for 5-year premium payment

13%

During Policy Year

4

Surrender Charge rate for Single premium

8%

Surrender Charge rate for 5-year premium payment

10%

During Policy Year

5

Surrender Charge rate for Single premium

6%

Surrender Charge rate for 5-year premium payment

6%

During Policy Year

6

Surrender Charge rate for Single premium

5%

Surrender Charge rate for 5-year premium payment

5%

During Policy Year

7

Surrender Charge rate for Single premium

4%

Surrender Charge rate for 5-year premium payment

4%

During Policy Year

8

Surrender Charge rate for Single premium

3%

Surrender Charge rate for 5-year premium payment

3%

During Policy Year

9

Surrender Charge rate for Single premium

2%

Surrender Charge rate for 5-year premium payment

2%

During Policy Year

10

Surrender Charge rate for Single premium

1%

Surrender Charge rate for 5-year premium payment

1%

During Policy Year

11 and thereafter

Surrender Charge rate for Single premium

0%

Surrender Charge rate for 5-year premium payment

0%

Goal Access Universal Life Plan (Education)
Fees for Goal Access Universal Life Plan (Education)

During Policy Year

Surrender Charge rate for Single premium

Surrender Charge rate for 5-year premium payment

1

12%

55%

2

11%

22%

3

10%

15%

4

8%

10%

5

6%

6%

6

4%

4%

7

2%

2%

8

1%

1%

9 and thereafter

0%

0%

Goal Access Universal Life Plan (Education)
Fees for Goal Access Universal Life Plan (Education)

During Policy Year

1

Surrender Charge rate for Single premium

12%

Surrender Charge rate for 5-year premium payment

55%

During Policy Year

2

Surrender Charge rate for Single premium

11%

Surrender Charge rate for 5-year premium payment

22%

During Policy Year

3

Surrender Charge rate for Single premium

10%

Surrender Charge rate for 5-year premium payment

15%

During Policy Year

4

Surrender Charge rate for Single premium

8%

Surrender Charge rate for 5-year premium payment

10%

During Policy Year

5

Surrender Charge rate for Single premium

6%

Surrender Charge rate for 5-year premium payment

6%

During Policy Year

6

Surrender Charge rate for Single premium

4%

Surrender Charge rate for 5-year premium payment

4%

During Policy Year

7

Surrender Charge rate for Single premium

2%

Surrender Charge rate for 5-year premium payment

2%

During Policy Year

8

Surrender Charge rate for Single premium

1%

Surrender Charge rate for 5-year premium payment

1%

During Policy Year

9 and thereafter

Surrender Charge rate for Single premium

0%

Surrender Charge rate for 5-year premium payment

0%

Note: If you surrender your policy before the end of the policy term, the amount you get back may be less than what you have paid.

For detailed fees and charges information, please refer to the product brochure and policy provisions for respective products.

Fees and charges summary of General Insurance Products

Administration Charges
Administration Charges for General Insurance Products

Re-issuance of China Hospital Deposit Guarantee Card

Re-issuance of FirstCare / FirstCare Plus Medical Card

Re-issuance of Outpatient Care Card

Re-issuance of China Medical Card

Re-issuance of FirstCare / FirstCare Plus Body Check Redemption Letter1

Fire Insurance Valuation Service2

HKD 30

HKD 50

HKD 50

HKD 50

HKD 100

HKD 700

Administration Charges
Administration Charges for General Insurance Products

Re-issuance of China Hospital Deposit Guarantee Card

HKD 30

Re-issuance of FirstCare / FirstCare Plus Medical Card

HKD 50

Re-issuance of Outpatient Care Card

HKD 50

Re-issuance of China Medical Card

HKD 50

Re-issuance of FirstCare / FirstCare Plus Body Check Redemption Letter1

HKD 100

Fire Insurance Valuation Service2

HKD 700

1 This letter can be re-printed only after customer's declaration that no redemption was made with the lost letter.

2 This fee is charged on a yearly basis when the policy is renewed.

Fire Insurance - Short Period Rate

Upon cancellation of the Policy, the Insurer will charge a Short Period Rate ("Rate") or HKD400, whichever is higher. After deducting such charge, the insurer will then refund the remainder (if any) of premium paid to the policyholder the period during which the Policy has been in force ("Period"). The Rates chargeable for various periods are shown in below table as stated in terms of a percentage of the annual premium.

Fire Insurance - Short Period Rate

Period of the Policy has been in force exceeding

Period of the Policy has been in force not exceeding

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

 

5 days

2.5% of annual premium

5 days

15 days

5%

15 days

1 month

10%

1 month

45 days

15%

45 days

2 months

20%

2 months

3 months

30%

3 months

4 months

40%

4 months

5 months

50%

5 months

6 months

60%

6 months

7 months

70%

7 months

8 months

80%

8 months

9 months

85%

9 months

10 months

90%

10 months

11 months

95%

11 months

 

Full annual premium

Fire Insurance - Short Period Rate

Upon cancellation of the Policy, the Insurer will charge a Short Period Rate ("Rate") or HKD400, whichever is higher. After deducting such charge, the insurer will then refund the remainder (if any) of premium paid to the policyholder the period during which the Policy has been in force ("Period"). The Rates chargeable for various periods are shown in below table as stated in terms of a percentage of the annual premium.

Fire Insurance - Short Period Rate

Period of the Policy has been in force exceeding

 

Period of the Policy has been in force not exceeding

5 days

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

2.5% of annual premium

Period of the Policy has been in force exceeding

5 days

Period of the Policy has been in force not exceeding

15 days

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

5%

Period of the Policy has been in force exceeding

15 days

Period of the Policy has been in force not exceeding

1 month

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

10%

Period of the Policy has been in force exceeding

1 month

Period of the Policy has been in force not exceeding

45 days

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

15%

Period of the Policy has been in force exceeding

45 days

Period of the Policy has been in force not exceeding

2 months

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

20%

Period of the Policy has been in force exceeding

2 months

Period of the Policy has been in force not exceeding

3 months

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

30%

Period of the Policy has been in force exceeding

3 months

Period of the Policy has been in force not exceeding

4 months

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

40%

Period of the Policy has been in force exceeding

4 months

Period of the Policy has been in force not exceeding

5 months

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

50%

Period of the Policy has been in force exceeding

5 months

Period of the Policy has been in force not exceeding

6 months

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

60%

Period of the Policy has been in force exceeding

6 months

Period of the Policy has been in force not exceeding

7 months

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

70%

Period of the Policy has been in force exceeding

7 months

Period of the Policy has been in force not exceeding

8 months

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

80%

Period of the Policy has been in force exceeding

8 months

Period of the Policy has been in force not exceeding

9 months

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

85%

Period of the Policy has been in force exceeding

9 months

Period of the Policy has been in force not exceeding

10 months

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

90%

Period of the Policy has been in force exceeding

10 months

Period of the Policy has been in force not exceeding

11 months

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

95%

Period of the Policy has been in force exceeding

11 months

Period of the Policy has been in force not exceeding

 

Rate(shown in percentage of annual premium or min. HKD400, whichever is higher)

Full annual premium

Single Trip TravelSurance - minimum extension charge

The minimum additional premium for every period extension3 of each policy is HK$30.

 

For Single Trip TravelSurance, duration of the period should be no longer than 366 days.

 

The above charges may be revised from time to time.