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EarlyIncome Annuity Plan1

Optimise the future you deserve

Life is good. But your future could be great with your smart move today. Planning for a hassle-free life has never been easier, EarlyIncome Annuity Plan (“EarlyIncome”) offers right protection to help you expedite your life goals, be it funding for your children's education at the early stage of raising a family or a comfortable retirement when you are exploring new horizons in your senior years.

Key features

EarlyIncome is a long-term participating life insurance product with a savings element and is not equivalent or similar to any kind of bank deposit. It offers:

  • Flexibility to meet your needs at various stages by receiving monthly annuity payments up to age2 99^ after a short accumulation period. Or you can simply opt to accumulate substantial savings by deferring the receipt of annuity payments to address your own unique needs and circumstances in the future.

  • Future security options for your loved ones with life protection. In the unfortunate event of your passing, your beneficiary(ies) will receive – at your discretion – a Death Benefit in a lump sum or in the form of monthly annuity payments3 for the remaining annuity period.

  • A projected breakeven that can be achieved as the soon as the 8th policy year* for a worry-free return with life protection.

  • A choice to top up your plan with additional premium for additional protection against Severe Dementia4,+

  • HSBC Life, the No. 1 provider of new annuity business in Hong Kong* is well placed to attend to the broad spectrum of customers’ retirement needs.

*Source: Annual Statistics for Long-term Business 2019 issued by the Insurance Authority (Individual Insurers' Statistics:Total Individual Annuity New Business)

^ Only applicable to the life insured who is aged2 55 to 70.

* Breakeven means that the Net Cash Value5 which is contributed by both guaranteed and non-guaranteed benefits to total premium paid6 of basic plan at a particular policy year is 100%. For the details of non-guaranteed benefits, please refer to section “Key risks - Non-guaranteed benefits” in respective Product Brochures.

+ Severe Dementia means an unequivocal diagnosis by a Registered Medical Practitioner who is a specialist of Neurologist, Psychiatrist or Neuropsychiatrist of severe permanent cognitive impairment resulting in the permanent need for continuous supervision of the life insured, with a Mini Mental State Examination score of less than 10 out of 30-point questionnaire.

Speak with us

Book an appointment for face-to-face or video-enabled meeting here:

  • Or via (852) 2233 3130

    (Mon to Fri: 11:00am - 7:30pm, except public holidays)

HSBC Jade and Premier customers

  • Contact your Relationship Manager

Limited time offers:

  • Get up to 10% off your first-year premium

    Offer ends 30 September 2021. T&C apply.

  • Get an extra 2% off your first year premium

    HSBC Life Well+ customers can enjoy an extra 2% off on first year premium of selected life insurance plan.
    Offer ends 30 September 2021. T&Cs apply.

  • Earn up to an extra $3,000 RewardCash!

    Pay new policy’s premium to HSBC Life with HSBC Premier Mastercard® Credit Card* to enjoy the offer. Offer ends 31 December 2021. T&C apply.

Additional benefits

Enjoy extra protection with the following supplementary benefits7 , subject to eligibility, with no additional premiums.

  1. Additional accidental death benefit8
  2. Unemployment benefit9

Complimentary special benefits for COVID-19. See details >

You may also be eligible for the following optional supplementary benefit4,7, with additional premium required:

Dementia Protection

For an additional premium on top of your basic plan’s premium, you can cover yourself against financial worries if the life insured is diagnosed with severe dementia. At the same time, we offer a full suite of value-added services to take care of you every step of the way.

Dementia Protection is an optional supplementary benefit and is not applicable for aggregate premium policies and policies with 1-year accumulation period and can only be enrolled together with the application for the basic plan by any Life Insured aged2 between 55 and 70 years. Please refer to the respective concept flyers, rider factsheet, Policy provisions of the Supplementary Benefits4,7 for their detailed terms and conditions and relevant exclusions. 

How does it work

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The above plans are life insurance plan underwritten by HSBC Life (International) Limited. Policyholders are subject to the credit risk of HSBC Life and early surrender loss.

Manage your policy

Manage your policy online

Access your policy details anytime, anywhere on both your HSBC HK Mobile Banking app and our Personal Internet Banking webpage, so you can check your benefits and coverage, premium due dates, projected future values and much more at your fingertips.

Make a claim

Sometimes life doesn’t go according to plan and you’ll want to make an insurance claim as soon as possible.


Simply call our Tele-Consultants at (852) 31280122 who will assist you in preparing your relevant claim request(s). 


  • EarlyIncome Insurance Plan is underwritten by HSBC Life (International) Limited (referred to the Company) which is authorised and regulated by the Insurance Authority (IA). The Hongkong and Shanghai Banking Corporation Limited (referred to as "HSBC") is an insurance agent authorised by the Company.
  • Policyholder's  benefit is subject to the credit risk of the Company. Your premiums paid will form part of the Company's assets. You do not have any rights or ownership over any of those assets. Your recourse is against the Company only.
  • If the policyholder discontinues and / or surrenders the insurance plan in the early policy years, the amount of the benefit he / she will get back may be considerably less than the amount of the premium he / she has paid.
  • Past, current, projected and / or potential benefits and / or returns (e.g. bonuses, dividends and interest) presented herein are not guaranteed and are for illustrative purposes only. The actual future amounts of benefits and / or returns may be lower than or higher than the currently quoted benefits and / or returns.
  • 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 the Company and you directly.
  • Please refer to the respective product brochure for detailed features and the Policy Provisions for the detailed terms and conditions.

1Application for EarlyIncome is subject to our relevant requirements on your nationality and/or addresses and/or residency as determined by us from time to time.

2We consider your age to be how old you are on your next birthday. So, if you are 54 with a birthday in 6 months’ time, we consider you to be 55.

3Monthly Annuity Payment means Monthly Guaranteed Annuity Payment which consist of Monthly Guaranteed Base Annuity and Monthly Guaranteed Additional Annuity plus Monthly Non-guaranteed Annuity Payment (if any). Monthly Non-guaranteed Annuity Payment is not guaranteed and is determined by the Company from time to time.

4The Dementia Protection is an optional supplementary benefit requiring additional premiums. It is not applicable for aggregate premium11 policies and policies with 1-year accumulation period and can only be enrolled together with the application for the basic plan by any life insured aged2 between 55 and 70 years. 

The total premium paid6 for the Dementia Protection will be refunded to the policyholder if the life insured is diagnosed with Severe Dementia during the accumulation period, and the Dementia Protection will cease. The benefit amount for the Monthly Dementia Income is an additional 100% of Monthly Guaranteed Annuity Payment3 of the basic plan, subject to a maximum amount of USD3,750 or its equivalent per month per life insured across all Dementia Protection policies issued by us, if the life insured is diagnosed with Severe Dementia during the annuity period. The Monthly Dementia Income is payable until the earlier of the life insured’s age2 of 99 or life insured’s death. Please note that there is no surrender benefit for this optional supplementary benefit.

This benefit will automatically terminate from the earliest of the following dates: 

  • If whenever applicable, your basic plan terminates, expires, lapses, or is surrendered in accordance with the relevant provisions of your Policy;  or
  • The Benefit Cessation Date; or
  • Upon the refund of premiums paid for this benefit as the result of life insured’s diagnosis of Severe Dementia during accumulation period
  • Upon the first payment of the Monthly Dementia Income (Termination of this benefit shall not prejudice the ongoing payment of the Monthly Dementia Income by us); or   
  • If whenever applicable during the policy term, your premium payments for basic plan or this benefit is missed.

5Net Cash Value means before the commencement of the Annuity Period, an amount equal to the sum of Guaranteed Cash Value plus accumulated dividends and interest, less any outstanding policy loans, interest and premiums. On or after commencement of the Annuity Period, Net Cash Value means sum of the Guaranteed Cash Value and any accumulated Monthly Annuity Payment3, plus any accumulated dividends and interest, less any outstanding policy loans, interest and premiums.

6Total premiums paid refers to the total amount of premiums due for the basic plan (whether or not actually paid) as of the date of death of the life insured. For aggregate premium policy, the balance of aggregate premium will not be counted as the total premium paid until such part of premium is due. Please refer to the Policy Provisions for detailed terms and conditions.

7An amendment to an insurance policy that becomes a part of the insurance contract which expands or limits the benefits payable.

8Additional Accidental Death Benefit will terminate when the Life Insured attains the age2 of 80 or payout of the relevant benefits or the Policy is terminated (whichever is earlier). Your policy will terminate once we pay this benefit.

9Unemployment benefit is applicable to any policyholder aged between 462 and 642 years who is the holder of a Hong Kong Identity card. The benefit will terminate on the policy anniversary at which the policyholder attains the age of 652 or all due premiums have been paid or your policy is terminated (whichever is the earliest). Such benefit is not applicable for aggregate premium policy.

10For the same Life Insured, if the total premiums of all the pending Guaranteed Approval / Simplified Underwriting Applications and in-force policies of RetireEnrich Protection Plus, RetireIncome Annuity Plan, HSBC Wealth Goal Insurance Plan, HSBC Wealth Goal Insurance Plan II, EarlyIncome Annuity Plan, HSBC EarlyIncome Deferred Annuity Plan, Income Goal Income Goal Insurance Plan, Income Goal Insurance Plan II, HSBC Income Goal Deferred Annuity Plan and HSBC Income Goal Deferred Annuity Plan II are:

(1) more than the “guaranteed approval” limit of USD5,000,000 or its equivalent, the Life Insured is required to complete a number of simple health questions; or

(2) more than the simplified underwriting limit of USD8,750,000 or its equivalent, the application will be further reviewed by the Company, and the acceptance of the application will be subject to the company’s discretion. 

11The aggregate premium option allows you to pre-pay the required premiums. The balance of the aggregate premium after deducting the annual premium on the relevant premium due dates will be accumulated with interests at such interest rate which is not guaranteed and may change from time to time at our discretion. If the aggregate premium together with interests accumulated exceed the total premiums required under your policy, any balance amount will be refunded to you as soon as all premiums due under your policy have been settled. If the aggregate premium together with interests accumulated are not sufficient to cover the total premiums required under your policy, you will then be requested to settle the premium shortfall upon receiving our written notification for the premiums due. Any failure to pay for the premium shortfall may result in lapsation of your policy.  Please refer to section “Key risks - Risk from surrender” in the product brochure for the details of key risk factors for aggregate premium.

Please refer to the respective concept flyer, supplementary benefit factsheet and Policy Provisions for its features, detailed terms, conditions and exclusions. 

*To borrow or not to borrow? Borrow only if you can repay!