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Protection and savings for your child’s future

Give your child the ultimate head start with a plan that combines life cover with savings for their education. Set your savings goal as the insured amount and we’ll help you stay on track. You can choose to let the plan mature when your child reaches 22footnote15, or withdraw cash early to cover things like school fees or private tuition. Withdrawals are subject to Surrender Charge in the first ten policy years. Please refer to “Surrender Charge” under “Details of Charges” for details

This is a long term universal life insurance plan underwritten by HSBC Life (International) Limited.

Key Features

  • Financial flexibility to adjust the sum insured if needs changefootnote16
  • Choose to boost your account value with unscheduled premiumsfootnote5
  • Earn daily interest – at least 2% p.a. on your account value for the first 8 years
  • Enjoy a loyalty bonusfootnote2 on your savings when the policy matures
  • Enjoy additional protection benefits on terminal illness and payor’s benefits at no extra charges
  • At policy maturity, your child can get new life cover without underwriting

Product Discount Offer

Enjoy up to 1.5% discount off first year premium upon successful application for Goal Access Universal Life Plan (Education).

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

How to apply

At an HSBC branch

Find your nearest branch



Need to make a claim?

Fax us with the completed claim form

Download claim form

  • Summary of cover Select to Expand Select to Collapse

    What’s included?

    Grow your savings

    With each premium, we deduct a sum to cover policy charges and the rest is put into your policy account as Account Value. This amount will earn interestfootnote3 – credited daily – at the prevailing general crediting interest ratefootnote4. This rate varies and can be 0%, but is guaranteed to be at least 2% p.a. for the first 8 years of your policy.

    Loyalty bonus

    To increase the value of your savings, we offer a loyalty bonus. This is credited to your account when the policy matures. The bonus amount is equivalent to a percentage of your average account value over the preceding 60 months before the policy maturity.

    Life cover for your childfootnote7

    This plan pays a lump sum if your child passes away or is diagnosed with a terminal illness during the policy term. You’ll be paid the higher of the following, less any outstanding charges:

    • Your account value; or
    • The sum insured, minus any money withdrawn from your account from 12 months preceding the death to the claim approval date

    The Account Value is determined on the date of the written notification of the life insured’s death being received by the Company. Positive Account Value is required to maintain your policy in force.

    Adaptable cover

    If needs change, you can adjust the amount insured. If you paid for your plan with a lump sum, you can change your child’s cover amount after the first policy anniversary. If you paid with regular premiums, you can adjust your cover once your premium payment period ends. Reducing cover means you may need to pay a surrender charge.

    Note:

    Increasing the sum insured is subject to (i) underwriting; and (ii) increase in the Policy Expense Charge and Insurance Charge. For details, please refer to “Policy Expense Charge” and “Insurance Charge” under the section “Details of Charges” in the product brochure.
    Reducing the sum insured may incur Surrender Charge. For details, please refer to “Surrender charge” under the section “Details of Charges” in the product brochure.

    Flexible premiums payment

    You can choose the premium payment option that works for you. Pay monthly or annually for 5 years, or choose to pay in a single lump sum. The total amount you need to pay is fixed at the beginning of the policy so there are no surprises.

    Boost your returns with unscheduled premiums

    When you have extra funds, you can choose to boost your account value by paying in unscheduled premiumsfootnote5. The Unscheduled Premium you pay will be allocated to the Account Value after deduction of Policy Premium Charge. Acceptance of unscheduled premiums is at HSBC’s discretion and minimum transaction amounts apply.

    Cash withdrawals

    You can cover unexpected expenses like school trips or music lessons by withdrawing money from your policy account. Withdrawals are subject to a Surrender Charge applicable in the first 8 policy years ranging from 1% to 55% depending on the policy year and premium payment period. Withdrawals also are subject to a minimum amount of USD625 per withdrawal and a minimum Account Value balance of USD2,500 after withdrawal. For details, please refer to “Surrender charge” under the section “Details of Charges” in the product brochure.
    Withdrawals will reduce the account value which may reduce the death benefit and increase the chance of policy lapses.

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

    See more about our policy crediting interest rates.

  • Eligibility Select to Expand Select to Collapse

    Am I eligible?

    Goal Access Universal Life Plan (Education) is generally available to anyone agedfootnote15 1-10.The plan is subject to the relevant requirements on nationality and/or addresses of the policyholder and/or 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 Select to Expand Select to Collapse

    More help when you need it

    When life surprises you, additional benefits included in this policy can offer you more support.

    Continued protectionfootnote9

    When the policy matures, you can buy new life cover for your child without underwriting. To qualify, you must apply for a whole life insurance plan or endowment insurance plan within 30 days after the maturity of your current policy.

    Payor’s benefitfootnote10

    If you as the policy payor die before age 65footnote15 or become disabled for 183 days, we will cover the policy’s future outstanding Planned Premiumsfootnote13 on your behalf until you fully recovered or the end of the policy premium payment period (whichever comes first).

    Terminal illness benefitfootnote12

    If your child is diagnosed with a terminal illnessfootnote8 and likely to die within a year from the date of notification, we will pay out the life cover benefit in advance to help you cope with your changing financial situation.

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

  • Product Brochure Select to Expand Select to Collapse

    All the information you need in one place


    Goal Access Universal Life Plan (Education) Product Brochure

    See more details of a Goal Access Universal Life Plan (Education) policy.

    View document

  • Policy Crediting Interest Rates Select to Expand Select to Collapse

    Policy Crediting Interest Rates (for Universal Life insurance products)

    Universal Life insurance products

    Universal Life insurance products are long term insurance plans offering a high level of protection with competitive features and flexibility for policyholders' multi-generational planning needs and other insurance needs. For details of the product features and key risks of Universal Life insurance products, please refer to the relevant product materials and policy provisions or contact your relationship manager or insurance consultant.

    The benefits provided by Universal Life insurance products are impacted by the crediting interest rates as well as applicable charges. The General Crediting Interest Rate is a floating rate determined by the Company, subject to a guaranteed minimum floor as stipulated on policy provisions.

    Philosophy in deciding the General Crediting Interest Rate

    The applicable General Crediting Interest Rates vary depending on the policy currency and product series. Such rates are regularly reviewed by the Company at its discretion. The Company will inform policyholders concerned for any subsequent change of the General Crediting Interest Rates for their policies.

    When determining the General Crediting Interest Rate, which applies to each Universal Life insurance policy, the Company considers the investment returns on the underlying assets supporting the policies, as well as other factors, including but not limited to: the outlook of the long term future investment returns, the claims and surrender experience, and the expenses. If the investment returns over the long term are better than expected, then the General Crediting Interest Rate would increase and if the investment returns are worse than expected, then the General Crediting Interest Rate would reduce.

    The investment returns on Universal Life underlying portfolios include interest earnings as well as losses or gains realized upon the disposal of assets or asset impairments. The claims include the cost of providing the death benefit and other insured benefits under Universal Life insurance policies. The surrenders include total and partial surrenders, and their corresponding impact on investments. The investment returns on Universal Life underlying portfolios are not guaranteed.

    In order to ensure that discretion exercised when defining the crediting interest rates is fair to all policyholders, and that any conflicting interests of policyholders with other policyholders and/or shareholders have been addressed having due regard to the fair treatment of policyholders, the Company established a dedicated committee providing independent advice on the management of the universal life business.

    Investment philosophy for Universal Life Underlying Portfolios

    The Company maintains a prudent approach to investing for the Universal Life underlying portfolios, with the primary goal being the delivery of long term value to policyholders.

    Each portfolio is invested in Corporate and Government bonds under pre-determined diversification and rating objectives. The current long term investment strategy is to invest in diversified long term investment grade bonds rated BBB- or above. Unrated bonds may also be considered if they fit the Company's risk appetite profile. However, the Universal Life underlying portfolios are conservatively positioned to limit the exposure to unrated bonds. The bonds are held by the Company to maturity in order to match its long term liabilities. Subject to our investment policy, derivatives may be utilized to manage the investment risk exposure, for matching between assets and liabilities and for efficient portfolio management.

    For the historical crediting interest rates of the Universal Life insurance products of the Company, that had new policies issued in the previous 5 years, please refer to this document.

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 policy account value 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(852) 31280122 who will assist you in preparing your relevant claim request(s).

Goal Access Universal Life Plan (Protection)

Build a reserve of savings and enjoy peace of mind with flexible life cover that can be adapted to fit your changing needs.

Note: Goal Access Universal Life Plan (Protection) is not equivalent or similar to any kind of deposit.

Income Goal Insurance Plan

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.

Goal Access Universal Life Plan (Education) is specially designed for customers who want to have an insurance plan to meet their needs for protection and education fund of their children with a high degree of flexibility. Not only it offers protection and great flexibility in growing and managing your savings, but also it allows you to adjust your sum insured to meet your changing needs over time.

In order to keep the policy in force, you must pay all Planned Premiumsfootnote 13 when due and the Account Value must be sufficient to support the policy charges. Your policy will lapse when the Account Value is not sufficient to cover policy charges for 45 consecutive days or when Planned Premium has been overdue for 65 consecutive days. To avoid policy lapses, you should pay all Planned Premiums when due and ensure that the Account Value is sufficient to cover the policy charges. Should you fulfil the criteria mentioned above, the policy will mature at the policy anniversary at which the insured's age next birthday is 22.

The plan consists of the following premium types: Planned Premiumfootnote 13 and Unscheduled Premiumfootnote 5.

Planned Premiumfootnote 13 - all Planned Premium must be paid in accordance with the premium payment period selected upon policy application.

The policy will lapse when the Planned Premium and any supplemental benefit premiums have been overdue for 65 consecutive days.

Planned Premium is determined according to the age and gender of the life insured, sum insured, payment term, policy currency and a variety of health and lifestyle factors.

Unscheduled Premiumfootnote5 - you can contribute Unscheduled Premium to the policy while the policy is in force. You can choose the amount of Unscheduled Premium to contribute, subject to a minimum amount of USD625 per transaction, which may be changed by the Company from time to time. The acceptance of the Unscheduled Premium is at the Company's discretion.

Both the Planned Premium and Unscheduled Premium will be allocated to Account Value after deduction of Policy Premium Charge.

If you need money to cope with any unexpected or planned life events, for a regular premium policy, you can withdraw from the policy account after the end of the premium payment period. For a single premium policy, you can withdraw from the policy account on or after the first policy anniversary. Withdrawals are subject to (i) a Surrender Charge applicable in the first 8 policy years ranging from 1% to 55% depending on the policy year and premium payment period; (ii) a minimum amount of USD625 per withdrawal; and (iii) a minimum Account Value balance of USD2,500 after withdrawal.

Withdrawals will reduce the Account Value which may reduce the Death Benefit and increase the chance of policy lapses. The policy will lapse when the Account Value is not sufficient to cover the policy charges for 45 consecutive days.

You may surrender (i.e. terminate) the policy at any time by submitting a written request in the form specified by the Company which is available at www.hsbc.com.hk.

Upon surrender, the policy will be terminated and you will receive the Account Value minus any applicable Surrender Charge in the first 8 policy years and any outstanding charges. Due to the deduction of policy charges and Surrender Charge, the amount you get back may be significantly less than what you have paid.

You will receive quarterly statements showing updated Account Values. You can also contact us on 2583 80002583 8000.

End Notes Select to Expand Select to Collapse

Endnotes

1 Goal Access Universal Life Plan (Education) is not equivalent or similar to any kind of deposit.

2 For details, please refer to “Loyalty Bonus” under the section “Product Summary” in the product brochure.

3 Interests according to the prevailing General Crediting Interest Rate are credited to the Account Value. The General Crediting Interest Rate, though it is not guaranteed and may vary while your Policy is in force, will not be less than the Guaranteed Minimum Crediting Interest Rate.

4 The general Crediting Interest Rate is not guaranteed and may vary while your policy is in force. After the 8th policy year, the guaranteed minimum crediting interest rate is 0% p.a.

5 The minimum amount of Unscheduled Premiums per transaction is USD625, which is subject to change by the Company from time to time. The acceptance of the Unscheduled Premium is at the Company’s discretion.

6 Withdrawals will reduce the account value which may reduce the death benefit and increase the chance of policy lapses.

7 Please refer to Summary of Plan at the Product Brochure.

8 Terminal illness benefit will terminate upon the payout of this benefit or the policy is terminated (whichever is the earliest). Please refer to the relevant supplemental benefits provisions for the detailed terms and conditions.

9 Subject to availability.

10 Payor’s Benefit is applicable to policyholder aged 19footnote15 to 60footnote15 who is the holder of the Hong Kong Identity Card or Macau Identity Card. This benefit will terminate upon the Policy Anniversary at which the policyholder’s agefootnote11 at next birthday is 65 or the life insured’s agefootnote11 at next birthday is 22 or the policy is terminated or paid up (whichever is the earliest). This benefit is not applicable for single premium policies. Please refer to the relevant supplemental benefits provisions for the detailed terms and conditions.

11 The Policy Anniversary at which you reach the specified age based on age at next birthday.

12 Terminal Illness Benefit will terminate upon the payout of this benefit or the policy is terminated (whichever is the earliest). Please refer to the relevant supplemental benefits provisions for the detailed terms and conditions.

13 The Planned Premium is determined according to the age and gender of the life insured, sum insured, payment term, policy currency and a variety of health and lifestyle factors. All Planned Premiums must be paid during the premium payment period selected upon policy application.

14 Surrender charge ranging from 1% to 55% applies during the first 8 policy years. For a policy being surrendered in early years, the surrender proceeds to be received under the policy may be significantly less than the premiums paid and you could lose all your premiums paid in the worst scenario.

15 Age means age at your child’s next birthday. If your child is 21 now, we consider to be 22.

16 Increasing the sum insured is subject to (i) underwriting; and (ii) increase the policy expense charge and insurance charge. Reducing the sum insured may induce surrender chargefootnote14.


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, interests) 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.

Goal Access Universal Life Plan (Education) is underwritten by HSBC Life (International) Limited ("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.

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