Whether you are raising a family and are far from retirement, or if you are middle aged and looking to invest your savings with more certainty, HSBC Income Goal Deferred Annuity Plan ("Deferred Income Goal") and Income Goal Insurance Plan ("Income Goal") offer a deft combination of payment and annuity options that empower you to enjoy your senior years on your terms.

It’s a matter of good timing – enrolling now with Deferred Income Goal or Income Goal is superb, but being able to benefit tomorrow with this same plan is even better.

Key features

You can receive below benefits until the end of the policy term:

  • Stability - Receive steady annuity payments* in the form of a Monthly Annuity Payment2 for 10 years to suit your evolving needs and achieve your personal aspirations. A Special Bonus4 may be declared at the commencement of annuity period and accumulated with interest (if any) in your policy.
  • Satisfaction - Enjoy the flexibility of tailoring your retirement income by creating a monthly stream of payments or accumulate as a lump-sum retirement amount that suits your desired lifestyle.
  • Security - Protect against life’s uncertainties to help you fulfil your promise to your loved ones with a Death Benefit in the unfortunate event of your passing.

* Annuity payments include both a guaranteed annuity payment and a non-guaranteed annuity payment (if any). Please refer to the “Example” and “Product Summary” sections in Product Brochure for details.

More about Deferred Income Goal

Deferred Income Goal is a deferred annuity insurance policy offering features certified by the Insurance Authority ("IA") to be compliant with its Guideline on Qualifying Deferred Annuity Policy3.

  • Savings - If you are a taxpayer in Hong Kong, you can apply for tax deduction under salaries tax and personal assessment with Inland Revenue Department from your premiums paid with an allowance of up to HKD60,000 for a particular fiscal year3. For details, please refer to the "Important information for Qualifying Deferred Annuity Policy" section.
A couple is celebrating in a party; image used for Deferred Income Goal page.

Enjoy tax deduction benefit while you save for your retirement. Learn more

Deferred Income Goal / Income Goal are both long-term participating life insurance products with a savings element and is not equivalent or similar to any kind of deposit. Deferred Income Goal is a deferred annuity insurance policy offering features certified by the IA to be compliant with its Guideline on Qualifying Deferred Annuity Policy.

Product Discount Offer

Enjoy up to 7% discount off first year premium upon successful application for HSBC Income Goal Deferred Annuity Plan / Income Goal Insurance Plan.

This offer is valid until 30 June 2019. Promotional terms and conditions apply. Please visit branch for details.

Need to make a claim?

Fax us with the completed claim form.

Summary of cover

What’s included?

Below shows the key difference in features between the two plans including the range of Premium payment period, accumulation and annuity period / annuity payment option available in Deferred Income Goal and Income Goal to suit your varied needs and situation:
  HSBC Income Goal Deferred Annuity Plan
(Qualifying Deferred Annuity Policy Certified by the Insurance Authority)
Income Goal Insurance Plan
Eligibility5 Life Insured from age6 41 to 65 can apply

Life Insured from15 days after birth to Insurance age6 of 65 can apply

Life Insured
Life Insured and Policyholder is the same person Life Insured and Policyholder can be the same person or different persons
Premium payment period
5 or 10 years 3 or 5 or 10 years or in single premium
Minimum Monthly Guaranteed Annuity Payment HKD1,630/USD215
HKD800/USD100
Accumulation period 10 years 10 years
Annuity period
10 years 10 years
Annual dividend payment method
  • Accumulate in your policy 
  • Take out as cash after premium payment period,before which all dividends declared (if any) will be accumulated in your policy with interest (if any)
  • Accumulate in your policy
  • Take out as cash at any time during the policy term  

 

Below shows the key difference in features between the two plans including the range of Premium payment period, accumulation and annuity period / annuity payment option available in Deferred Income Goal and Income Goal to suit your varied needs and situation:
  Eligibility5
HSBC Income Goal Deferred Annuity Plan
(Qualifying Deferred Annuity Policy Certified by the Insurance Authority)
Life Insured from age6 41 to 65 can apply
Income Goal Insurance Plan

Life Insured from15 days after birth to Insurance age6 of 65 can apply

  Life Insured
HSBC Income Goal Deferred Annuity Plan
(Qualifying Deferred Annuity Policy Certified by the Insurance Authority)
Life Insured and Policyholder is the same person
Income Goal Insurance Plan Life Insured and Policyholder can be the same person or different persons
  Premium payment period
HSBC Income Goal Deferred Annuity Plan
(Qualifying Deferred Annuity Policy Certified by the Insurance Authority)
5 or 10 years
Income Goal Insurance Plan 3 or 5 or 10 years or in single premium
  Minimum Monthly Guaranteed Annuity Payment
HSBC Income Goal Deferred Annuity Plan
(Qualifying Deferred Annuity Policy Certified by the Insurance Authority)
HKD1,630/USD215
Income Goal Insurance Plan HKD800/USD100
  Accumulation period
HSBC Income Goal Deferred Annuity Plan
(Qualifying Deferred Annuity Policy Certified by the Insurance Authority)
10 years
Income Goal Insurance Plan 10 years
  Annuity period
HSBC Income Goal Deferred Annuity Plan
(Qualifying Deferred Annuity Policy Certified by the Insurance Authority)
10 years
Income Goal Insurance Plan 10 years
  Annual dividend payment method
HSBC Income Goal Deferred Annuity Plan
(Qualifying Deferred Annuity Policy Certified by the Insurance Authority)
  • Accumulate in your policy 
  • Take out as cash after premium payment period,before which all dividends declared (if any) will be accumulated in your policy with interest (if any)
Income Goal Insurance Plan
  • Accumulate in your policy
  • Take out as cash at any time during the policy term  

 

Your savings is made up of:

  • Guaranteed cash value in your policy that builds up gradually throughout the accumulation period
  • Non-guaranteed annual dividends and interest rate (earned on any accumulated dividends and interest and any accumulated Monthly Annuity Payment2)

The dividend scale for distributing any dividends is determined by HSBC Life (International) Limited ("the Company") and may vary from time to time at the Company’s absolute discretion. If you withdraw any accumulated dividends and interest under your policy or if any adjustment affecting the dividends occurs during the policy term, the amount of future Monthly Non-guaranteed Annuity Payment may be adjusted accordingly. Non-guaranteed special bonus4 to be declared at the commencement of the annuity payment period, i.e. on month 121 of taking out the policy.

See more about our policy dividends.


Annuity payment option:

Payment at monthly interval - Receive Monthly Annuity Payment2 on each Monthiversary during the annuity period; or

Rollover - Accumulate all paid Monthly Annuity Payment2 to earn interests (if any, the interest rate which will be determined by our discretion from time to time) until the end of the annuity period.

Note: You can opt to switch between these two annuity payment options anytime during policy term at your choice.


Life cover:

Ensure your loved ones are looked after with a Death Benefit in case the unexpected happens. You can choose how the death benefit will be paid while the Life Insured is still alive. Your beneficiary(ies) will receive

  • Option 1: The death benefit in one lump sum payment, or;
  • Option 2: Accumulated Monthly Annuity Payment2 (if any) before your death in one lump sum; plus the unpaid Monthly Annuity Payment2 until the end of the Annuity Period (Note: This option is only applicable if it is elected when the Life Insured is alive and the Life Insured’s death occurs during the Annuity Period)

Please refer to the respective Product Brochures of Deferred Income Goal and Income Goal for detailed product features and risks.

Additional benefits

More benefits from Deferred Income Goal and Income Goal

Whatever your desired retirement style, these plans provide you the following supplementary benefits7 (also known as "rider") during the policy term, subject to eligibility, with no additional premiums. These benefits protect you against unexpected events along your life journey.

  1. Additional accidental death cover8
  2. Terminal illness benefit8
  3. Unemployment benefit9
  4. Payor’s Benefit10 (applicable to Income Goal only and not applicable to single premium policies)

You may also be eligible for the following optional supplementary benefits7 during the policy term, with additional premium required:

Critical Illness Select Benefit (additional payment)11 (applicable to Income Goal only and not applicable to single premium policies)

Please refer to the respective Policy Provisions of the Supplementary Benefits7 for their detailed terms and conditions and relevant exclusions.

Product brochure

All the information you need in one place

 

HSBC Income Goal Deferred Annuity Plan Product Brochure
(Qualifying Deferred Annuity Policy Certified by the Insurance Authority)

View Product Brochure [PDF]

 

Income Goal Insurance Plan Product Brochure

View Product Brochure [PDF]

Policy dividend

Policy dividend for Participating Products

View More about participating policy [PDF]

Manage your policy

Manage your policy

At HSBC, we understand life never stands still. Which is why you can make changes to your policy online anytime.

 

It's easy to:

- check or review your policy details

- change premium payment instructions, including your premium payment account, payment method or payment frequency

- request for withdrawal from dividends or cash bonus of selected life policies and select your preferred settlement option

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).

Have you considered

 

Saving up for your retirement whilst apply for tax deduction on premium paid for the plan under salaries tax and personal assessment with Inland Revenue Department.


Note: Tax deduction is at Inland Revenue Department’s discretion. HSBC EarlyIncome Deferred Annuity Plan is a long-term participating life insurance product with a savings element and is not equivalent or similar to any kind of deposit.

 

Business to fund? School fees to pay? Perhaps you are simply looking forward to a comfortable retirement.

 

Note: Income Goal Insurance Plan is not equivalent or similar to any kind of deposit.

Important information for Qualifying Deferred Annuity Policy:

  • Tax implication of Qualifying Deferred Annuity Insurance Policy - The Qualifying Deferred Annuity Policy (“QDAP”) status of Deferred Income Goal does not guarantee that you will be eligible for a tax deduction for QDAP premiums you have paid. Deferred Income Goal’s QDAP status is based on the features of the product as well as its certification by the Insurance Authority (“IA”); not necessarily matters regarding your personal situation. Before claiming any tax deductions, you must meet all eligibility requirements set out under the Inland Revenue Ordinance, while following the guidance issued by the Inland Revenue Department of the Hong Kong SAR. Any general tax information provided is for your reference only, and you should not make any tax-related decisions based on such information alone. Please note that the actual tax benefits of this policy would depend on your personal tax position and there might not be tax deductions benefits if you are not subject to salaries tax and personal assessment in the relevant year of assessment. You should always consult with a professional tax advisor if you have any questions or doubts. Please note that the tax law, regulations and / or interpretations are subject to change and may affect any related tax benefits including the eligibility criteria for a tax deduction. The Company is not responsible for informing you about any changes in laws, regulations or interpretations, and how they may affect you. Further information regarding tax concessions applicable to QDAP may be found at the webpage of the IA: www.ia.org.hk.
  • Certification of QDAP – Please note that IA’s certification is not a recommendation or endorsement of the policy nor does it guarantee the commercial merits of the policy or its performance.  It does not mean the policy is suitable for all policyholders nor is it an endorsement of its suitability for any particular policyholder or class of policyholders.  The policy has been certified by the IA but such certification does not imply official recommendation.  The IA does not take any responsibility for the contents of the product brochure of the policy, makes no representation as to its accuracy or completeness, expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of the product brochure of the policy.
  1. Application for Income Goal and Deferred Income Goal is subject to our relevant requirements on your nationality and/or addresses and/or residency as determined by us from time to time.
  2. Monthly Annuity Payment means Monthly Guaranteed Annuity Payment 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.
  3. Tax deduction under salaries tax and personal assessment with Inland Revenue Department from premiums paid under Deferred Income Goal shall be subject to your individual circumstances. It is also at Inland Revenue Department’s discretion when your premiums are paid over the premium payment period. Please refer to the "Key Risks - Tax implication of Qualifying Deferred Annuity Insurance Policy" section in respective Product Brochure for details regarding key risk factors.
  4. The amount of Special Bonus, if any, is not guaranteed and subjected to our absolute discretion.
  5. 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, EarlyIncome Annuity Plan, HSBC EarlyIncome Deferred Annuity Plan, Income Goal Insurance Plan and HSBC Income Goal Deferred Annuity Plan are:
    1. more than the "guaranteed approval" limit of HKD2,500,000/USD312,500 for Life Insured who are 15 days after birth to Insurance Age6 of 18 and HKD40,000,000/USD5,000,000 for     Life Insured's Insurance Age6 of 19 to 65, the Life Insured is required to complete a number of simple health questions; or
    2. 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.
  6. We 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.
  7. An amendment to an insurance policy that becomes a part of the insurance contract which expands or limits the benefits payable.
  8. Additional Accidental Death Benefit and Terminal Illness Benefit will terminate when the Life Insured attains the age6 of 80 or 65 respectively or payout of the relevant benefits or the Policy is terminated (whichever is earlier). Your policy will terminate once we pay this benefit.
  9. Unemployment Benefit is applicable to policyholder aged between 196 and 646 who is the holder of the Hong Kong Identity Card. The benefit will terminate on the policy anniversary at which the policyholder attains the age6 of 65 or all due premiums have been paid or your policy is terminated (whichever is the earliest).
  10. The eligibility of Payor’s Benefit is applicable to the Life Insured who is 15 days after birth to age6 18 and Policyholder’s age6 between 19 and 60. The benefit will terminate when the Policyholder attains the age6 of 65 or the Life Insured attains the age6 of 25 or the Policyholder recovers or all premiums have been paid or the Policy is terminated, whichever is earlier. Such benefit is not applicable for single premium policy.
  11. Critical Illness Select (Additional Payment) is applicable to the Life Insured’s age6 between 15 days and 60 who is the holder of the Hong Kong Identity Card or Macau Identity Card. The benefit will terminate if the Policy terminates, expires, lapses, or is surrendered (whichever applicable) or when the Life Insured attains the age6 of 65 or the Policy is terminated (whichever is earlier). Such benefit is not applicable to single premium policy.

 

Disclaimers

The policyholder is subject to the credit risk of HSBC Life (International) Limited.

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.

Income Goal Insurance Plan/HSBC Income Goal Deferred Annuity Plan are both underwritten by 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. Your 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.

Please refer to the respective product brochure for detailed features and the policy provisions for the detailed terms and conditions.

In the event of any inconsistency between the English version and the Chinese version, the English version shall prevail.

HSBC Life (International) Limited is incorporated in Bermuda with limited liability, and is one of the HSBC Group's insurance underwriting subsidiaries.