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. The life protection 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.

Key features

  • An opportunity for long-term capital growth
  • Life protection coverage up to Age1 99 with Supplementary Benefits
  • A choice of premium payment terms denominated in US dollars
  • A Policy Value Management Option2,3 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.

Product Discount Offer

Enjoy up to 10% discount off first year premium upon successful application for HSBC Wealth Goal Insurance Plan.

Promotional terms and conditions apply. Please visit branch for details.

Need to make a claim?

Fax us with the completed claim form.

Wealth Goal Insurance Plan II
It’s never too early to start planning for your future, whether you’re focused on saving for a comfortable retirement or simply want to grow your wealth.

Summary of cover

What’s included?

 

Life cover9

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.

 

Please refer to Product Summary in Product Brochure and Policy Provisions for details. 

 

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 Option2,3

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 Options2,3, 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-in2,3. 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 Option2,3may 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 Option2,3, 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.

Eligibility

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.

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

Additional benefits

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.

Product brochure

All the information you need in one place

HSBC Wealth Goal Insurance Plan Product Brochure

See more details of HSBC Wealth Goal Insurance Plan.

Policy dividend

Policy dividend for Participating Products

View More about participating policy [PDF,193KB]

Manage your policy

Manage your policy online

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

 

If you’ve turned 35 and are thinking about retirement, make sure you receive a regular income later by making a smart move now.

 

Note: EarlyIncome Annuity Plan 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.

1 The Policy Anniversary at which the Policyholder or the Life Insured is of the specified age based on age at next birthday.

2 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.

3 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.

5 The amount of Special Bonus is not guaranteed and the payment is subject to the Company’s 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.

8 Upon full surrender, the Company’s liability under this Policy shall be fully discharged.

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.

15 If you choose to pay premiums in monthly payments mode for a Policy Year, the total premiums payable for that Policy Year will be greater than that in annual payment mode.

 

Disclaimers

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.