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A family building blocks; image used for HSBC Income Goal Insurance Plan II.

Income Goal Insurance Plan II1

A key way to live life to the fullest

Business to fund? School fees to pay? Perhaps you are simply looking forward to a comfortable retirement. Turn your ambitions into reality with our Income Goal Insurance Plan II, designed to accumulate your savings, provide life protection and a steady stream of income for the future.

This is an annuity insurance plan underwritten by HSBC Life (International) Limited. It is a long-term participating life insurance product with a savings element and is not equivalent or similar to any kind of deposit.

Key features

  • Receive steady annuity payments in the form of a Monthly Guaranteed Annuity Payment2 for 10 years. A Special Bonus3 may be declared at the end of the policy term.

  • Enjoy the flexibility of tailoring your retirement income by creating a monthly stream of payments or accumulating as a lump-sum retirement amount.

  • Option to lock-in a portion of your policy value with the Policy Value Management Option4.

  • 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)

Additional benefits

Enjoy extra protection with the following supplementary benefits5 (also known as “rider”), subject to eligibility, with no additional premiums.

  1. Additional accidental death cover6
  2. Unemployment benefit7
  3. Payor’s Benefit8 (not applicable to single premium policies)

You may also be eligible for the following optional supplementary benefit5 during the policy term, with additional premium required:

Critical Illness Select Benefit (Additional Payment)9 (not applicable to single premium policies)

Please refer to the respective Policy Provisions of the Supplementary Benefits5 for their detailed terms and conditions and relevant exclusions.

Complimentary special benefits for COVID-19. See details >

Speak with us

HSBC One and other HSBC customers

Book an appointment online or via (852) 2233 3130*.

HSBC Jade and Premier customers

Contact your Relationship Manager

*(Monday to Friday from 11:00am to 7:30pm except public  holidays)

Limited time offers:

  • 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 30 June 2021. T&C apply.

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

    Offer ends 30 June 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 June 2021. T&Cs apply.

How does it work

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T&Cs apply.

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Explore our qualifying deferred annuity plans that can provide you with a steady income stream after you retire, and enable you to claim tax deduction in Hong Kong.

T&Cs apply.

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Explore the list of plans to help you on saving and prepare for a promising future.

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

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, coverage, premium due dates and much more at your fingertips.

 

You can also request for a dividends and/or bonus withdrawal from your policy (if applicable) and submit other service requests on our Personal Internet Banking webpage.

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).

Disclaimer

  • Income Goal Insurance Plan II 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. This product is a product of the Company but not HSBC and it is intended only for sale in the Hong Kong SAR.
  • 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.

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

2 Under the payment at monthly intervals option, only Monthly Guaranteed Annuity Payments are paid out. Under the rollover option, Monthly Guaranteed Annuity Payments are accumulated with interest (if any) which is non-guaranteed and determined at our discretion from time to time.

3 The amount of Special Bonus, if any, is not guaranteed and is subject to our absolute discretion.

4 You may apply to exercise the Policy Value Management Option to allocate a portion of the Net Cash Value and Special Bonus3 as of the date of such a request is processed, to the Policy Value Management Balance12 provided that:

  • This Policy has been in force for 10 Policy Years or more;
  • All premiums are paid up when due; and
  • There is no Indebtedness13 under the Policy.

The exercise of the Policy Value Management Option is subject to the minimum amount requirements on (i) the Net Cash Value and Special Bonus3 to be allocated per transaction; and (ii) the Monthly Guaranteed Annuity Payment2 after the exercise of this option. Such minimum amount requirements are determined by the Company from time to time without prior notice to Policyholders.

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

6 The Additional Accidental Death Benefit will terminate when the Life Insured attains the age11 of 80 or payout of the relevant benefits or the Policy is terminated (whichever is earlier). The Policy will terminate upon the payment of the Additional Accidental Death Benefit.

7 Unemployment Benefit is applicable to Policyholder’s Insurance Age11 between 19  and 64 who is the holder of  a Hong Kong Identity Card. The benefit will terminate when the Policyholder attains the age11 of 65 or all due premiums have been paid or the Policy is terminated (whichever is earlier). Such benefit is not applicable to for single premium policies.

8 The eligibility of Payor’s Benefit is applicable to the Life Insured who is 15 days old after birth to the Insurance Age11 of 18 and Policyholder’s who are at Insurance Age11 of between 19 to and  60. The benefit will terminate when the Policyholder attains the age11 of 65 or the Life Insured attains the age11 of 25 or the Policyholder recovers or all premiums have been paid or the Policy is terminated, whichever is earlier. Such benefits are is not applicable for single premium policies.

9 Critical Illness Select (Additional Payment) is applicable to the Life Insured’s Insurance Age11 between 15 days and 60 who is the holder of a Hong Kong Identity Card or Macau Identity Card. The benefit will terminate if the Policy terminates, expires, lapses, or is surrendered (whichever is applicable) or when the Life Insured attains the age11 of  65 or the Policy is terminated (whichever is earlier). Such benefit is not applicable to single premium policy.

10 For 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 Insurance Plan, Income Goal Insurance Plan II and HSBC Income Goal Deferred Annuity Plan are:

  • more than the “guaranteed approval” limit of HKD2,500,000/USD312,500 for a Life Insured who is 15 days after birth to Insurance Age11 of 18 and HKD40,000,000/USD5,000,000 for a Life Insured who is at the Insurance Age11 of 19 to 65, the Life Insured is required to complete a number of simple health questions; or
  • more than the simplified underwriting limit of HKD70,000,000/USD8,750,000, the application will be further reviewed by the Company, and the acceptance of the application will be subject to the Company's discretion.

11 Insurance Age means the age of the Life Insured or Policyholder where applicable at his or her next birthday.

12 Policy Value Management Balance means the amount of the accumulated proceeds from the exercise of the Policy Value Management Option4 which is allocated to the Policy to accumulate at such non-guaranteed interest rate(s) as are determined at the Company’s discretion from time to time, and less any previously withdrawn amounts.

13 Indebtedness means the sum of all outstanding Policy Loans, any interest accrued on such Policy Loans, and any outstanding premiums under this Policy.

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