Savings/ Retirement/ Education

SavourLife II Annuity Life Insurance Plan

You can take time to enjoy life now

The SavourLife II Annuity Life Insurance Plan ("the Plan") 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.

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 for a period of 20 years or up to age 99 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(3).
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(4)
(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)
Interest rates used for Monthly Income(2) accumulations are not guaranteed. Please refer to Illustration Summary of the insurance plan chosen for details.
(4)
Guaranteed acceptance is applicable to the Life Insured whose Insurance Age and nationality accord with the requirements of the Plan, and the Total Premium Amount (including Income-Select Life Insurance Plan and/or Income Step-up Life Insurance Plan and/or Smart Income Life Insurance Plan and/or Step-up Income Life Insurance Plan and/or Target Income Life Insurance Plan and/or RewardYou Life Insurance Plan and/or SavourLife Annuity Life Insurance Plan and/or SavourLife II Annuity Life Insurance Plan) per Life Insured not exceeding HK$30,000,000 / US$3,750,000.
  Notes :
SavourLife II Annuity 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".
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)
Guaranteed acceptance is applicable per Life Insured for Life Insurance Plans (including Income-Select Life Insurance Plan and/or Income Step-up Life Insurance Plan and/or Smart Income Life Insurance Plan and/or Step-up Income Life Insurance Plan and/or Target Income Life Insurance Plan and/or RewardYou Life Insurance Plan and/or SavourLife Annuity Life Insurance Plan and/or SavourLife II Annuity Life Insurance Plan) with Total Premium Amount below HK$30,000,000 (US$3,750,000); If the Life Insured is under the insurance age of 18, Total Premium Amount per Life Insured for Life Insurance Plans should be below HK$12,000,000 (US$1,500,000).
  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".
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)
Guaranteed acceptance is applicable per Life Insured for Life Insurance Plans (including Income-Select Life Insurance Plan and/or Income Step-up Life Insurance Plan and/or Smart Income Life Insurance Plan and/or Step-up Income Life Insurance Plan and/or Target Income Life Insurance Plan and/or RewardYou Life Insurance Plan and/or SavourLife Annuity Life Insurance Plan and/or SavourLife II Annuity Life Insurance Plan) with Total Premium Amount below HK$30,000,000 (US$3,750,000); If the Life Insured is under the insurance age(10) of 18, Total Premium Amount per Life Insured for Life Insurance Plans should be below HK$12,000,000 (US$1,500,000).
(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".
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.
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”.
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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