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Savings/ Retirement/ Education

SavourLife II Annuity Life Series

For a hassle-free retirement to enjoy life

The SavourLife II Annuity Life Insurance Plan and SavourLife II (RMB) Annuity Life Insurance Plan (collectively, "the Plans") of Hang Seng Insurance Company Limited ("Hang Seng Insurance"), specially designed for soon-to-be or current retirees, is tailored to meet your needs for retirement savings, protection and legacy planning.

Can choose to denominate in USD, HKD (applicable to SavourLife II Annuity Life Insurance Plan) or CNY (applicable to SavourLife II (RMB) Annuity Life Insurance Plan)
Single payment or 3-year payment for you to choose from
Choices of various Income Period(1) which begins after the 1st or 3rd policy year, and depending on your selected plan, you can choose an Income Period(1) for 20 years or up to Life Insured’s age 99(3) of the Life insured.
Receive regular Monthly Income(2) during the Income Period(1) or retain the entire amount in the policy to accumulate interest(4).
Comprehensive protection to pass on the legacy of your success to your family
No medical examination is required and acceptance is guaranteed irrespective of your health condition(5)
(1)
Income Period refers to the period during which Monthly Income(2) is paid.
(2)
Monthly Income includes Monthly Guaranteed Income and Monthly Non-guaranteed Income. The Monthly Non-guaranteed Income is not guaranteed and the actual amount paid can be higher or lower than the projected amount. During the Income Period(1), the Monthly Income is payable to the Policyholder on each monthiversary until the end of the Income Period(1).
(3)
Income Period(1) up to Life Insured’s age 99 is not applicable to SavourLife II (RMB) Annuity Life Insurance Plan.
(4)
Interest rates used for Monthly Income(2) accumulations are not guaranteed. Please refer to Illustration Summary of the insurance plan chosen for details.
(5)
The maximum Total Premium Amount for guaranteed acceptance (per Life Insured) may differ and is subject to the Insurance Age of the Life Insured. Total Premium Amount refers to the total premium amount of the Plan and other life insurance plans determined by "Hang Seng Insurance". For details of the underwriting procedure, please contact our Hang Seng Bank branch. These Plans are subject to the relevant requirements on nationality, and/or addresses of the Policyholder and/or Life Insured as determined by “Hang Seng Insurance” from time to time. “Hang Seng Insurance” reserves the right to accept or decline any applications for the Plans based on the information provided by the Life Insured and/or Policyholder during enrolment.
  Notes :
By choosing the plans denominated in currencies other than local currency, you are subject to exchange rate risks. Exchange rate fluctuates from time to time. Upon the currency conversion, you may suffer a loss of your benefit values and the subsequent premium payments (if any) may be higher than your initial premium payment as a result of the exchange rate fluctuations. Exchange controls imposed by the relevant authorities may also adversely affect the applicable exchange rate. CNY is currently not freely convertible and conversion of CNY may be subject to certain policy, regulatory requirements and/or restrictions (which are subject to changes from time to time without notice). The actual conversion arrangement will depend on the policy, regulatory requirements and/or restrictions prevailing at the relevant time.
SavourLife II Annuity Life Insurance Plan and SavourLife II (RMB) Annuity Life Insurance Plan are underwritten by "Hang Seng Insurance" which is authorized and regulated by the Commissioner of Insurance of the HKSAR. Hang Seng Bank Limited is an insurance agent authorised by "Hang Seng Insurance".

(a)
Hang Seng Bank Limited ("Hang Seng Bank") is an insurance agent authorized by Hang Seng Insurance Company Limited ("Hang Seng Insurance") and the product is a product of “Hang Seng Insurance” but not “Hang Seng Bank”; and


(b)
In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between “Hang Seng Bank” and you out of the selling process or processing of the related insurance product transaction, “Hang Seng Bank” will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance products should be resolved between “Hang Seng Insurance” and you directly.
The above information is intended as a general summary of information only. Please refer to the actual policy for exact terms, conditions and exclusions of the Plan. For details of the Plan and the policy terms, please contact any Hang Seng Bank Branch.


Please call 2198 7838 or visit any of our branches.
RewardYou Life Insurance Plan

Enjoy stable source of income by receiving regular Guaranteed Cash Bonuses

To add more certainty in your life planning, Hang Seng Insurance Company Limited ("Hang Seng Insurance") is proud to present you RewardYou Life Insurance Plan (the “Plan”) which offers regular Guaranteed Cash Bonus(1) every year starting from the 2nd Policy Anniversary until the Policy Anniversary before policy maturity. Your Guaranteed Cash Bonus(1) will be doubled every 10 years for some bigger wishes!
Regular Guaranteed Cash Bonuses(1)
Flexible Use of Guaranteed Cash Bonuses(1) and prospective Policy Dividends(2)
Guaranteed Maturity Bonus(3)
Embedded Accidental Death Benefit(4)
Embedded Unemployment Benefit(5)
Guaranteed Acceptance(6) and uni-rate for simple application
Optional Supplemental Benefits for comprehensive protection
(1)
While the Policy is still in force, a Guaranteed Cash Bonus after deducting the indebtedness (if any) will be payable every year starting from the 2nd Policy Anniversary to the Policy Anniversary before policy maturity. Double Guaranteed Cash Bonus will be payable on the 10th (applicable to 20-year and 30-year policy term) and 20th (applicable to 30-year policy term only) Policy Anniversary.
(2)
Policy Dividends and the interest rates used for Guaranteed Cash Bonuses and Policy Dividends accumulations are not guaranteed and independent. Please refer to Illustration Summary for details of the policy dividends and the interest rates for policy dividend accumulation and Guaranteed Cash Bonus(1) accumulation.
(3)
While the Policy is still in force upon policy maturity, a Guaranteed Maturity Bonus not less than the total premium paid will be payable after deducting the indebtedness (if any). Please refer to Illustration Summary for details of the projected total amount of cash value at policy maturity.
(4)
In the unfortunate event of accidental death of the Life Insured while the Policy is in force, the beneficiary(ies) will receive the Accidental Death Benefit, which is equal to 30% of the total premiums paid under the basic plan, in addition to the Death Benefit. Please refer to the Policy for exact terms, conditions and exclusions of this benefit.
(5)
If the Policyholder is unemployed for at least 30 consecutive days in the unfortunate event of dismissal by reason of redundancy, the Policyholder can apply for temporary suspension of payment of the premium due, and the grace period will be extended from 30 days to a maximum of 365 days from the first premium payment due date after unemployment. Please refer to the Policy for exact terms, conditions and exclusions of this benefit.
(6)
The maximum Total Premium Amount for guaranteed acceptance (per Life Insured) may differ and is subject to the Insurance Age of the Life Insured. Total Premium Amount refers to the total premium amount of the Plan and other life insurance plans determined by "Hang Seng Insurance". For details of the underwriting procedure, please contact our Hang Seng Bank branch. This Plan is subject to the relevant requirements on nationality, and/or addresses of the Policyholder and/or Life Insured as determined by “Hang Seng Insurance” from time to time. “Hang Seng Insurance” reserves the right to accept or decline any applications for the Plan based on the information provided by the Life Insured and/or Policyholder during enrolment.
  Notes :
RewardYou Life Insurance Plan is underwritten by "Hang Seng Insurance" which is authorized and regulated by the Commissioner of Insurance of the HKSAR. Hang Seng Bank Limited is an insurance agent authorised by "Hang Seng Insurance".

(a)
Hang Seng Bank Limited ("Hang Seng Bank") is an insurance agent authorized by Hang Seng Insurance Company Limited ("Hang Seng Insurance") and the product is a product of “Hang Seng Insurance” but not “Hang Seng Bank”; and


(b)
In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between “Hang Seng Bank” and you out of the selling process or processing of the related insurance product transaction, “Hang Seng Bank” will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance products should be resolved between “Hang Seng Insurance” and you directly.
The above information is intended as a general summary of information only. Please refer to the actual policy for exact terms, conditions and exclusions of the Plan. For details of the Plan and the policy terms, please contact any Hang Seng Bank Branch.


Please call 2198 7838 or visit any of our branches.
Target Income Life Insurance Plan

A Range of Premium Payment Terms for Greater Flexibility

Hang Seng Insurance Company Limited ("Hang Seng Insurance") has especially brought to you the Target Income Life Insurance Plan (the “Plan”). With a wide range of premium payment periods and income withdrawal options, it allows you to make the right choice that meets your needs with flexibility, turning what you aspire for tomorrow into reality.
Choices of Income Period(1) – including 8, 10, 15 or 20 years, providing you with more financial flexibility.
Choices of premium payment term(2) – make a single payment or spread premium payments across 3 years to 15 years.
Flexible income withdrawal options:
Immediate withdrawal - Withdraw the Total Cash Value(3) of the policy in lump sum upon commencement of Income Period(1).
Regular withdrawal – Receive the Monthly Income(4) during the Income Period(1).
Accumulation for future use - Retain the Monthly Income(4) received during Income Period(1) for interest accumulation(5).
Terminal Illness Benefit(6) for extra peace of mind.
Optional Waiver of Premium on Disability Benefit(7) or Payor’s Benefit(8) for comprehensive protection.
Guaranteed acceptance(9) and uni-rate for simple application.
(1)
Income Period refers to the period during which Monthly Income(4) is paid.
(2)
Available options of premium payment term depends on the period chosen during which Monthly Income(4) is received.
(3)
Before the commencement of the Income Period(1), Total Cash Value includes Guaranteed Cash Value and accumulated Policy Dividends(5) (if any). Upon the withdrawal of the entire amount of Total Cash Value of the policy, the policy will be terminated immediately.
(4)
Monthly Income includes Monthly Guaranteed Income and Monthly Non-guaranteed Income. The Monthly Non-guaranteed Income is not guaranteed and the actual amount paid could be higher or lower than the projected amount. During the Income Period(1), the Monthly Income is payable to the Policyholder on each monthiversary until the end of the Income Period(1). The Policyholder may choose to withdraw it in cash or accumulate it with interest(5).
(5)
Policy Dividends and interest rates used for Policy Dividends and Monthly Income(4) accumulations are not guaranteed. Please refer to Illustration Summary for details of the policy dividends and the interest rates.
(6)
Terminal Illness means a medical condition that the Life Insured is certified by Hang Seng Insurance’s appointed Registered Medical Practitioner to be reasonably expected to die within 6 months from the date of certification. Such medical condition and/or its signs or symptoms must first occur or commence more than 90 days following the Issue Date or effective date of last reinstatement of the policy (whichever is later). The Plan will be automatically terminated upon payout of this benefit or upon termination of the basic plan (whichever is earlier). Please refer to the Supplemental Benefit of Terminal Illness Benefit for full details and conditions.
(7)
Waiver of Premium on Disability Benefit is only applicable to the Life Insured with Insurance Age(10) not exceeding 60 at the time of application and relevant underwriting procedure is required. Premium of this benefit should be paid until the end of the premium payment term of the basic plan or the Life Insured reaches the Insurance Age (10) of 65 (whichever is earlier). The Life Insured must be a Hong Kong or Macau identity card holder to be eligible for this benefit. Please refer to the Supplemental Benefit of Waiver of Premium on Disability Benefit for full details and conditions.
(8)
Payor’s Benefit is only applicable to the Life Insured with Insurance Age(10) of 17 or below at the time of application, and the Payor with Insurance Age(10) of 18 to 60 at the time of application. Premium of this benefit shall be paid until the end of premium payment term of the basic plan, the Life Insured reaches the Insurance Age(10) of 25, or the Payor reaches the Insurance Age(10) of 65 (whichever is earlier). The Payor must be a Hong Kong or Macau identity card holder to be eligible for this benefit. Please refer to the Supplemental Benefit of Payor’s Benefit for full details and conditions.
(9)
The maximum Total Premium Amount for guaranteed acceptance (per Life Insured) may differ and is subject to the Insurance Age of the Life Insured. Total Premium Amount refers to the total premium amount of the Plan and other life insurance plans determined by "Hang Seng Insurance". For details of the underwriting procedure, please contact our Hang Seng Bank branch. This Plan is subject to the relevant requirements on nationality, and/or addresses of the Policyholder and/or Life Insured as determined by “Hang Seng Insurance” from time to time. “Hang Seng Insurance” reserves the right to accept or decline any applications for the Plan based on the information provided by the Life Insured and/or Policyholder during enrolment.
(10)
Insurance Age means, at any date, the age of the Life Insured or Policyholder (if applicable) on the most recent birthday prior to the Policy Date plus the number of completed Policy Years. If the Life Insured’s or Policyholder’s (if applicable) birthday is on the Policy Date, it will be calculated based on the age on such Policy Date.
  Notes :
Target Income Life Insurance Plan is underwritten by "Hang Seng Insurance" which is authorized and regulated by the Commissioner of Insurance of the HKSAR. Hang Seng Bank Limited is an insurance agent authorized by "Hang Seng Insurance".

(a)
Hang Seng Bank Limited ("Hang Seng Bank") is an insurance agent authorized by Hang Seng Insurance Company Limited ("Hang Seng Insurance") and the product is a product of “Hang Seng Insurance” but not “Hang Seng Bank”; and


(b)
In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between “Hang Seng Bank” and you out of the selling process or processing of the related insurance product transaction, “Hang Seng Bank” will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance products should be resolved between “Hang Seng Insurance” and you directly.
The above information is intended as a general summary of the information only. Please refer to the relevant policy for exact terms, conditions and exclusions of the Plan. For details of the Plan and the policy terms, please contact any Hang Seng Bank’s branch.


Please call 2198 7838 or visit any of our branches.
HarvestLife (RMB) Life Insurance Plan

A Saving Life Insurance Plan
Harvest for your Future by Capturing the Opportunity on Renminbi


Hang Seng Insurance Company Limited (“Hang Seng Insurance”) offers the HarvestLife (RMB) Life Insurance Plan (the “Plan”) as one of the options for a long term savings plan in Renminbi market, helping customers to capitalize on the market potential of RMB that they can enjoy both of life protection and Monthly Income(2) during Income Period(1).
A CNY policy that helps to seize market opportunity – The Plan is denominated in Renminbi(3) that helps customers to grasp this burgeoning opportunity. CNY bank account holders can pay premium with CNY directly.
Monthly Income – The Plan is a long-term insurance plan. Customers only have to pay premium for 3 years or 5 years and the policy cash value will be accumulated before commencement of the Income Period(1), together with policy dividend provided annually(4). During the Income, customers can enjoy Monthly Income(2) every month or select other income withdrawal options to suit their saving objectives.
Easy Application – As long as the maximum total premium amount does not exceed the specific limit of insured policy, and once the Life Insured and/ or Policyholder complies with the relevant application requirements of the Plan for enrollment, application is acceptance guaranteed(5) with neither medical examination nor answering underwriting procedure required for the Life Insured.
Optional Death Benefit Claim – The policyholder has the option of choosing the preferred death benefit payment method, of which, the designated beneficiary(ies) may continue to receive the remaining Monthly Income(2) until the end(6) of the Income Period(1).
Free Additional Supplemental Benefits
- Terminal Illness Benefit
- Accidental Death Benefit
  Remarks :
(1)
Income Period refers to the period during which Monthly Income(2) is paid. If the Plan is “HarvestLife (RMB) Life Insurance Plan”, Income Period refers to the period from the 9th Policy Year to the 16th Policy Year when the Plan matures. If the Plan is “10-year HarvestLife (RMB) Life Insurance Plan (5-Year Payment)”, Income Period refers the period from the 11th Policy Year to the 20th Policy Year when the Plan matures.
(2)
Monthly Income includes Monthly Guaranteed Income and Monthly Non-guaranteed Income. The Monthly Non-guaranteed Income is not guaranteed and the actual amount paid can be higher or lower than the projected amount. During the Income Period(1), the Policyholder will receive Monthly Income on each monthiversary until the end of Income Period(3).
(3)
The currency of the Plan is Renminbi (CNY) and hence the premiums and policy benefits are recorded in CNY. Conversion of CNY to HKD and vice versa are subject to the risk of exchange rate fluctuations. You should therefore consider the currency exchange risk before applying for this Plan.
(4)
Policy dividends are only distributed before the Income Period(1). Policy dividends and the interest rate used for policy dividends and Monthly Income(2) accumulations are not guaranteed. Please refer to the illustration summary for prevailing interest rate.
(5)
The maximum Total Premium Amount for guaranteed acceptance (per Life Insured) may differ and is subject to the Insurance Age of the Life Insured. Total Premium Amount refers to the total premium amount of the Plan and other selected life insurance plans determined by “Hang Seng Insurance”. For details of the underwriting procedure, please contact our Hang Seng Bank branch. “Hang Seng Insurance” reserves the right to ease accepting applications for the Plan without prior notice, or to accept or decline any applications for the Plan based on the information provided by the Life Insured and/or Policyholder during enrolment. The Plan is also subject to the relevant requirements on nationality, and/or addresses of the Policyholder and/or Life Insured as determined by “Hang Seng Insurance” from time to time. In the event of unsuccessful application, “Hang Seng Insurance” will refund the paid premium in full in the original currency (without any interest).
(6)
This arrangement is applicable only if the Policyholder elects to receive Monthly Income(2) by regular withdrawals, and a Death Benefit instruction in the form prescribed by the policy terms and conditions has been made during survival of the Life Insured for the beneficiary(ies) to receive the remaining Monthly Income(2). Provided that the beneficiary(ies) may not change the payment method of Death Benefit elected by the Policyholder at any time.
  Notes :
By choosing the plans denominated in currencies other than local currency, you are subject to exchange rate risks. Exchange rate fluctuates from time to time. Upon the currency conversion, you may suffer a loss of your benefit values and the subsequent premium payments (if any) may be higher than your initial premium payment as a result of the exchange rate fluctuations. Exchange controls imposed by the relevant authorities may also adversely affect the applicable exchange rate. CNY is currently not freely convertible and conversion of CNY may be subject to certain policy, regulatory requirements and/or restrictions (which are subject to changes from time to time without notice). The actual conversion arrangement will depend on the policy, regulatory requirements and/or restrictions prevailing at the relevant time.
HarvestLife (RMB) Life Insurance Plan is underwritten by “Hang Seng Insurance” which is authorised and regulated by the Commissioner of Insurance of the HKSAR. Hang Seng Bank Limited is an insurance agent authorised by “Hang Seng Insurance”.

(a)
Hang Seng Bank Limited ("Hang Seng Bank") is an insurance agent authorized by Hang Seng Insurance Company Limited ("Hang Seng Insurance") and the product is a product of “Hang Seng Insurance” but not “Hang Seng Bank”; and


(b)
In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between “Hang Seng Bank” and you out of the selling process or processing of the related insurance product transaction, “Hang Seng Bank” will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance products should be resolved between “Hang Seng Insurance” and you directly.
The above information is intended as a general summary of information only. Please refer to the actual policy for exact terms, conditions and exclusions of the Plan. For details of the Plan and the policy terms, please contact any Hang Seng Bank Branch.
Monthly Education Fund Insurance Plan

Pave the Way to Success for Your Kids      With a Lump Sum Education Fund Plus Monthly Pocket Money

Hang Seng Insurance Company Limited’s Monthly Education Fund Insurance Plan is an endowment insurance plan offering Guaranteed Education Fund(1) as well as Monthly Pocket Money(2) so that you have more financial flexibility in paving the academic road to success for your beloved child. Payor’s Benefit(3) is also available free of charge for extra peace of mind.
Guaranteed Education Fund(1) and Monthly Pocket Money(2)
Flexible Payout for the Education Fund
Free Payor’s Benefit(3) for Comprehensive Protection
Two Payment Term Options for Extra Flexibility
Life Protection(4) and Guaranteed Renewal(8)
Easy Application(5)
Monthly Education Fund Insurance Plan prepares for your child's future plus life protection (4)
  Remarks :
(1)
Guaranteed Education Fund will be paid to the policyholder at the Policy Anniversary of the Life Insured’s Insurance Age(6) of 18. The policyholder may select to receive the amount in cash or retain it to accumulate interest. Guaranteed Education Fund is a guaranteed amount equals to 50% of the Sum Insured.
(2)
Monthly Pocket Money includes Monthly Guaranteed Pocket Money and Monthly Non-guaranteed Pocket Money. Monthly Non-guaranteed Pocket Money is not guaranteed and the actual amount receivable may be higher or lower than the projected value. Monthly Pocket Money will be paid to the Policyholder on each monthiversary during the Policy Years of the Life Insured’s Insurance Age(6) 18 to 21. The Policyholder may select to receive the amount in cash or retain it to accumulate interest.(7)
(3)
Payor's Benefit is only offered to Payor whose Insurance Age(6) is not greater than 60 and is holding a HKID Card upon commencement of the Policy, provided that the Payor’s information and answers to the underwriting questions as stated in the application form are acceptable to Hang Seng Insurance Company Limited. This protection will expire at the Payor’s Insurance Age(6) of 65 or at the end of payment term of the policy, whichever is earlier. Please refer to the Supplemental Benefit of Payor’s Benefit for full details and conditions.
(4)
In the event of death of the Life Insured’s caused by accident or illness from the first Policy year to the period before the Policy Anniversary of the Life Insured's Insurance Age(6) 18, a death benefit equals to 110% of the premium paid and accumulated Policy Dividends(7) (if any) less any indebtedness will be paid to the beneficiary(ies). In the event of death of the Life Insured during the Policy Years of the Insurance Age(6) of 18 and 21, the death benefit equals to 101% of the Guaranteed Cash Value of the Policy plus other accumulated policy values (if any) less any indebtedness will be paid.
(5)
Hang Seng Insurance Company Limited reserves the right to accept or decline any applications for the Plan based on the information provided by the Life Insured and Policyholder during application.
(6)
Insurance Age means, at any date, the age of the Life Insured or Policyholder (as applicable) on the most recent birthday prior to the Policy Date plus the number of completed Policy Years. If the Life Insured’s or Policyholder’s (as applicable) birthday is on the Policy Date, it will be calculated based on the age on such Policy Date.
(7)
Policy Dividends and the interest rates used for Policy Dividends accumulations, Guaranteed Education Fund(1) accumulations as well as Monthly Pocket Money(2) accumulations are not guaranteed. Please refer to Illustration Summary for details of the policy dividends and interest rates.
(8)
The policy renewal is subject to the policy terms. Please refer to the policy for details.


Please call 2198 7838 or visit any of our branches.
  Notes :
The Monthly Education Fund Insurance Plan is underwritten by Hang Seng Insurance Company Limited which is authorized and regulated by the Commissioner of Insurance of the HKSAR. Hang Seng Bank Limited is an insurance agent authorized by Hang Seng Insurance Company Limited.
If the policyholder terminates the policy before the Policy Anniversary of the Life Insured’s insurance age of(6) 18, the surrender amount receivable may be less than the total premium paid. For details, please refer to the “Plan Illustration Summary”.

(a)
Hang Seng Bank Limited ("Hang Seng Bank") is an insurance agent authorized by Hang Seng Insurance Company Limited ("Hang Seng Insurance") and the product is a product of “Hang Seng Insurance” but not “Hang Seng Bank”; and


(b)
In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between “Hang Seng Bank” and you out of the selling process or processing of the related insurance product transaction, “Hang Seng Bank” will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance products should be resolved between “Hang Seng Insurance” and you directly.
The above is intended as a general summary of information only. Please refer to the actual policy for exact terms, conditions and exclusions of the Plan.
    

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