Life Insurance

1. Based on the highest rate (17%) of the progressive tax rates and a tax payer paying HKD60,000 of qualifying deferred annuity policy or TVC, or a combination of both during the relevant year of assessment. A taxpaying couple can also claim a total deduction of HKD120,000 provided that the deductions claimed by each taxpayer do not exceed the individual limit.
2. 113% is calculated based on annually paid policies with USD100,000 or less notional amount and with 4.5% discount off on the first year’s premium.
3. 400% is a projected return after 30 years based on the assumption that the life insured is a 35-year-old male paying an annual premium of USD40,000 for 3 years.
4. The return of 4% p.a. is based on the assumption of a policy with policy period of 30 years and it is assumed that the life insured is 50 years of age or below and a non-smoker – and a 5-year premium term.
5. Based on a policy with a sum insured of HKD7,000,000 which covers the life of a non-smoking female who is 19 years old without adding any additional benefits. The annual premium for such a policy is currently HKD3990. Age refers to the age at the next birthday. The figure is subject to rounding adjustment. The actual amount of the premium is decided at the discretion of HSBC Life (International) Limited.
6. Additional benefits are subject to additional premium.
7. To learn more about the list of HSBC VHIS certified plans, please click here. For certification number of HSBC VHIS Standard Plan, please click here. For certification numbers of HSBC VHIS Flexi Plans, please click here.
   
8. The insured person should be the taxpayer or any specified relatives, which cover the taxpayer's spouse and children, and the taxpayer's or his/her spouse's grandparents, parents and siblings. Tax deduction eligibility is only applicable to policyholders or his/her spouse who are Hong Kong taxpayers. Tax deduction for the qualifying premiums paid under VHIS policy (not including levy) will be based on the premiums paid after deducting the premium discount (if any). The actual tax saving may be lower than the illustrated amount and is subject to review and agreement by the Inland Revenue Department on a case by case basis. For more information, please refer to www.ird.gov.hk or seek independent tax advice.
   
9. Pre-existing condition(s) shall mean, in respect of the insured person, any sickness, disease, injury, physical, mental or medical condition or physiological degradation, including congenital condition, that has existed prior to the policy issuance date or the policy effective date, whichever is the earlier. An ordinary prudent person shall be reasonably aware of a pre-existing condition, where - (a) it has been diagnosed; (b) it has manifested clear and distinct signs or symptoms; or (c) medical advice or treatment has been sought, recommended or received. The HSBC Life may impose case-based exclusion(s) to the pre-existing condition(s) notified to HSBC Life in the application for the plan and any subsequent information or document submitted to HSBC Life for the purpose of the application. Unknown pre-existing condition(s) refers to any pre-existing condition(s) that the policy holder and/or insured person was not aware and would not reasonably have been aware of at the time of application. Please refer to the policy provisions for the full terms and conditions.
   

The insurance products shown above are not equivalent to any bank deposit or savings. If you wish to learn more about any of the above insurance plans, please refer to the respective product brochure for detailed features and the Policy Provisions for the detailed terms and conditions on the insurance product webpages.

Life insurance products are underwritten by HSBC Life (International) Limited (“HSBC Life”). HSBC Life is incorporated in Bermuda with limited liability, and is one of the HSBC Group’s insurance underwriting subsidiaries. HSBC Life is authorised and regulated by the Insurance Authority of the Hong Kong SAR to carry on long-term insurance business in the Hong Kong SAR. Policyholders are subject to the credit risk of HSBC life and early surrender loss.

The above products are products of HSBC Life but not the Bank and they are intended only for sale in the Hong Kong SAR. HSBC Life will be responsible for providing your insurance coverage and handling claims under your policy. For monetary disputes arising between HSBC and you out of the selling process or processing of the related transaction, HSBC will enter into a Financial Dispute Resolution Scheme process with you; however, any dispute over the contractual terms of the product should be resolved between HSBC Life and you directly.