Many a mickle makes a muckle. With HSBC Wealth Goal Insurance Plan II, your wealth can be built gradually and support your long-term savings goal. Moreover, its life protection element can also give you a peace of mind for further adventures with your loved ones.
The HSBC Wealth Goal Insurance Plan II (the "Plan" or the "Policy") is a whole life insurance plan underwritten by HSBC Life (International) Limited that has been designed specifically for people with long-term wealth savings objectives.
An opportunity for long-term capital growth, projected cash value can reach 400% of total premium payment1
Life protection coverage up to Age2 99 with Supplementary Benefits
A choice of premium payment terms denominated in US dollars
A Policy Value Management Option3 to lock-in a portion of your policy value when you need more financial certainty
A chance to extend a gift by transferring the coverage of your Policy4 to your loved ones
HSBC Wealth Goal Insurance Plan II is a long-term participating life insurance product with a savings element. It is not equivalent or similar to any kind of deposit.
Speak with us
HSBC Jade and Premier customers
Contact your Relationship Manager
*(Monday to Friday from 11:00am to 7:30pm except public holidays)
Limited time offers:
Get up to 10% off your first-year premium.
Offer ends 30 June 2021. T&C apply
How does it work
Summary of cover
In addition to offering the opportunities for long-term capital growth, HSBC Wealth Goal Insurance Plan II provides life protection during the term of the Policy. In the unfortunate event of your death as the Life Insured, your family or your chosen Beneficiary(ies) will receive a Death Benefit amount equal to:
- The Total Basic Plan Premium Paid10 plus an amount of US$2,500 or the Guaranteed Cash Value (whichever is higher);
- Plus any non-guaranteed Special Bonus5;
- Plus any Policy Value Management Balance6;
- Less any Indebtedness11.
Multiple Premium Payment Terms
Denominated in US dollars, the HSBC Wealth Goal Insurance Plan offers multiple payment options. You can choose to pay your regular premiums in 3, 5, 10, 15 or 20 year instalments or you can make a single premium payment. Please refer to Product Summary in Product Brochure for details.
Policy Value Management Option3
Having reached a certain stage in life, and especially as you approach retirement, you may want more certainty and protection over your policy value.
That’s why HSBC Wealth Goal Insurance Plan II includes a Policy Value Management Options3, which allows you to lock-in a portion of the Plan’s Net Cash Value. You have control over whether to exercise this option (which is subject to the three conditions mentioned below) as well as the amount under the Policy that you want to lock-in3. Upon exercising this option, a portion of the Net Cash Value will be allocated to the Policy Value Management Balance6. The "lock-in" amount is guaranteed and will be accumulated at an interest rate6 that is non-guaranteed and is determined by the Company from time to time.
This Policy Value Management Option3may be exercised when all of the following three conditions are met:
(i) This Policy has been in force for 20 Policy Years or longer;
(ii) All premiums have been paid when due; and
(iii) There is no Indebtedness11 (including Policy Loans, interests and unpaid premium due) under this Policy.
Upon exercising the Policy Value Management Option3, the Policy Amount7 and Total Basic Plan Premium Paid10 under the Policy will be adjusted and reduced proportionally. Consequential adjustments will be made in the calculations of Guaranteed Cash Value, Special Bonus4 (if any) and Death Benefit in accordance with the terms of the Policy.
Am I eligible?
HSBC Wealth Goal Insurance Plan II is generally available to anyone who is between Age115 days after birth and Age170, depending on the premium payment terms selected. The Plan is subject to the relevant requirements on nationality and/or addresses of the Policyholder and/or the Life Insured as determined by the Company from time to time.
More help when you need it
The following Supplementary Benefits are embedded in this Policy, subject to eligibility, with no additional premiums required.
Unemployment Benefit12 (Not applicable to single premium policy)
If you are unemployed for at least 30 consecutive days before reaching the Age1 of 65, the Grace Period for payment of any subsequent premiums will be extended up to 365 days, during which you will still have the Policy’s full protection.
Additional Accidental Death Benefit13
In the unfortunate event that the death of the Life Insured is the result of an accident before the end of the policy term or prior to Age1 80 (whichever is earlier), the Beneficiary(ies) will receive an additional 30% of the Total Basic Premium Paid10 on top of the Death Benefit payable under the Policy.
For detailed terms and exceptions of these Supplementary Benefits, please refer to the respective Supplementary Benefits Provisions.
Complimentary special benefits for COVID-19. See details >
You may also be interested in
HSBC Health Goal Insurance Plan
Protection against 3 major critical illnesses while enjoying potential wealth appreciation. Critical illness claims will not affect savings and potential return.
HSBC Family Goal Insurance Plan
3-in-1 solution with enhanced protection for the first 20 years , offering life protection, untapped savings appreciation, cancer benefit covering your children*.
*The cancer benefit is applicable to the first 20 policy years. Only one claim can be made by either the life insured or his or her child aged below 18 under this coverage.
Deferred annuity plans
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.
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.
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).
1"Cash value" is calculated using the current assumed investment returns. It includes projected guaranteed cash value and projected special bonus which is non-guaranteed. The rate of return as shown above is therefore not guaranteed and is shown for illustration only. In this example, it is assumed that the life insured is a 35-year-old male paying an annual premium of USD40,000 for 3 years - and his return after 30 years. In conclusion, the actual cash value under the policy at a future point in time may be higher or lower than the amount quoted in this example.
3 You may apply to exercise this Policy Value Management Option to allocate a portion of the Net Cash Value as of the date of such request is processed, to the Policy Value Management Balance6 provided that:
- This Policy has been in force for 20 Policy Years or more;
- All premiums are paid up when due; and
- There is no Indebtedness11 under the Policy.
The exercise of the Policy Value Management Option is subject to the minimum amount requirements on (i) the Net Cash Value to be allocated per transaction; and (ii) the Policy Amount after the exercise of this option. Such minimum amount requirements are determined by the Company from time to time without prior notice to Policyholder.
4 Each Policyholder is entitled to the change of Life Insured of Policy for one time only after the third policy year or after the end of the premium payment period provided all premiums are paid when due, whichever is later. Change of life insured is subject to evidence of insurability and approval by the Company which is based on the underwriting conditions of the Life Insured. Any such request will be assessed on case-by-case basis and is at our discretion, with consideration of multiple factors, including but not limited to the change in underlying claim risk, change in policy term, latest economic outlook; and is at our discretion.
6 Policy Value Management Balance means the amount of the accumulation of the proceeds from exercising the Policy Value Management Option2,3 which is allocated to the Policy to accumulate at such non-guaranteed interest rate(s) that are determined at the Company’s discretion from time to time, and less any previously withdrawn amounts.
7 Policy Amount is an amount used to determine the premiums payable under the Policy and your cash values and Special Bonuses5 to be received under the basic plan of this Policy. It does not represent the amount of death benefit payable or cash value of your policy.
9 If the Life Insured commits suicide, within one year of the Issued Date or from the effective date of reinstatement, whichever is later, whether sane or insane, the Company’s liability will be limited to the amount of premiums paid to us less any amount paid by us to you since the Policy Date. Please refer to the Policy Provisions of the Basic Plan for detailed terms and conditions.
10 Total Basic Plan Premium Paid refers to the total amount of premium due of the Basic Plan (whether or not actually paid) as of the date of death of the Life Insured. Please refer to the Policy Provisions for detailed terms and conditions.
11 Indebtedness is the sum of all outstanding Policy Loans or Automatic Premium Loans advanced in accordance with the Policy plus the accrued interest on such loans as well as any outstanding premiums or payments.
12 Unemployment Benefit is applicable to Policyholder’s Age1 between 19 and 64 who is a holder of a Hong Kong Identity Card. This benefit will terminate when the Policyholder attains the Age1 of 65 or all due premiums have been paid or the Policy is terminated (whichever is earlier). Such benefit is not applicable to single premium policy. Please refer to the Policy Provisions of the Supplementary Benefits for detailed terms and conditions of coverage and exceptions.
13 Additional Accidental Death Benefit will terminate when the Life Insured reaches the Age1 of 80 or when the payment of this Supplementary Benefit has been paid out or the Policy is terminated (whichever is earlier). Please refer to the Policy Provisions of the Supplementary Benefits for detailed terms and conditions of coverage and exceptions.
14 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 II, EarlyIncome Annuity Plan, HSBC EarlyIncome Deferred Annuity Plan, Income Goal Insurance Plan and HSBC Income Goal Deferred Annuity Plan are:
- 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
- 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.
“Projected cash value” is non-guaranteed. The actual return may be higher or lower than the amount quoted. 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
HSBC Life (International) Limited ("the Company") is incorporated in Bermuda with limited liability, and is one of the HSBC Group’s Insurance underwriting subsidiaries.
HSBC Wealth Goal Insurance Plan II is underwritten by HSBC Life (International) Limited ("the Company') which is authorised and regulated by the Insurance Authority (IA) to carry on long-term insurance business in the Hong Kong SAR. The Hongkong and Shanghai Banking Corporation Limited (referred to as "HSBC") is an insurance agent of the Company. This product is a product underwritten by the Company and it is intended only for sale through HSBC in the Hong Kong SAR.
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.