Life insurance

We have a variety of insurance plans to satisfy your life protection needs. Contact your relationship manager or book an appointment with an insurance specialist to review your insurance portfolio regularly.

Staff Promotional Offers

The Staff Promotional Offers* are applicable to Eligible Persons (as defined below) who successfully enroll in the selected life insurance plans during the following promotional period:

Promotional Period: 1 May 2024 to 31 December 2024

* Please refer to 'General Terms and Conditions' and the specific product terms and conditions for details of the offers. 
^# Please contact your GPB Relationship Manager for details.

Renewal Discount Staff Offer

Remarks:

1. For policies of Eligible Members who had already applied for a 1^st year staff campaign premium discount, the renewal discount will be automatically applied to your policy for the eligible anniversaries of your policy
2. For policies of Eligible Members who had not previously applied for a 1^st year staff campaign premium discount, they may still apply for a renewal discount on their policy through submitting a request to HSBC Life.

General Terms and Conditions

1. The Staff Promotional Offers (the “Offer”) are only applicable to successful applications by the Eligible Persons (as defined below) to The Hongkong and Shanghai Banking Corporation Limited and its successors and assigns (“HSBC” or the “Bank”) in respect of a new purchase(s) of the Eligible Life Insurance Plans within the Promotional Period mentioned above (both dates inclusive) with policy being issued by HSBC Life (International) Limited (“HSBC Life”) on or before 28 February 2025 (or 30 June 2025 for the case of JGG, JUGG and PGIP). The Offer shall at all times be subject to these Terms and Conditions.
2. If an Eligible Person who is entitled to receive the Offer is also entitled to other offer(s) under another concurrent promotion run by The Bank in the Hong Kong Special Administrative Region (“Hong Kong”) in respect of the same type of designated product, such customer is only entitled to receive the offer of the highest value at HSBC Life’s sole discretion.
3. In the event of partial withdrawal(s), policy surrender or lapse within the first policy year, the First Year Premium Discount amount may be clawed back by setting off such amount against any sums that may be payable by HSBC Life to the Eligible HSBC Customers at HSBC Life's discretion.
4. Offers are not applicable to policies applied in company’s name.
5. The offers under these promotions are not exchangeable for cash and are not transferable.
6. The amount of total premiums payable under the policy may differ slightly from the total premium(s) payable as shown on application form due to rounding differences.
7. The Offers are applicable to Eligible Persons with purchases or transactions of insurance plans shown in the table above made via branch/online/phone/private bank (where applicable).
8. The following documents must be submitted with application for Family Members of the Selected HSBC Staff or of the ARS member: a) copy of staff ID/ARS membership card, and b) proof of relationship (e.g. copy of Dependent Medical Card, Birth/Marriage Certificate) between the applicant and the employee/ARS member OR declaring the relationship on the copy of staff ID/ARS membership card.
9. For applications submitted through HSBC Public Website / Personal Internet Banking/ Mobile App, the Offers are only applicable to policyholder as Selected HSBC Staff.
10. Any Eligible Persons / Members cancelled any applications which were submitted or effected on or before the start date of the Promotional Period and apply for below selected life insurance plans during the Promotional Period, the new life insurance application is ineligible for enjoying this discount offer.
11. HSBC Life reserves the right to accept or reject any application for any plan, including for reasons based on the information provided by or for the policyholder and/or the life insured during the application.
12. For monetary disputes arising between The Bank and the Eligible Person out of the selling process or processing of the related transaction, The Bank will enter into a Financial Dispute Resolution Scheme process with Eligible Person; however, any dispute over the contractual terms of the product should be resolved between HSBC Life and Eligible Person directly.
13. The Bank and HSBC Life reserve the right to change these Terms and Conditions and the offers may be withdrawn and/or terminated by the Bank and HSBC Life at its discretion without prior notice. The Bank and HSBC Life accept no liability for any such change, withdrawal and/or termination.
14. All offers under these promotions are provided subject to prevailing regulatory requirements.
15. No person other than the Eligible Person, the Bank and HSBC Life will have any right under the Contracts (Rights of Third Parties) Ordinance to enforce or enjoy the benefit of any of the provisions of these Terms and Conditions.
16. In the event of dispute (including but not limited to any dispute relating to campaign/discount code, or related offer), the decision of the Bank and HSBC Life shall be final and conclusive.
17. Should there be any discrepancy between the English and Chinese versions of these Terms and Conditions, the English version shall prevail.
18. These Terms and Conditions are governed by and construed in accordance with the laws of Hong Kong.
19. Each of the Bank, HSBC Life and the Eligible Person submits to the non-exclusive jurisdiction of the courts of Hong Kong but these Terms and Conditions may be enforced in the courts of any competent jurisdiction.

Specific Terms and Conditions for HSBC EarlyIncome Deferred Annuity Plan (DEIAP) / HSBC Income Goal Deferred Annuity Plan (DANNB)

1. For terms and conditions of HSBC EarlyIncome Deferred Annuity Plan / HSBC Income Goal Deferred Annuity Plan premium discount, please refer to the attached link.
2. Premium discount amount in HSBC EarlyIncome Deferred Annuity Plan / HSBC Income Goal Deferred Annuity Plan will not be treated as qualifying annuity premium for claiming tax deduction and is not tax deductible.

Specific Terms and Conditions for Goal Access Universal Life Plan (Education) (ULEP) / Goal Access Universal Life Plan (Protection) (ULPP) / HSBC Eminent Goal Multi-Currency Insurance Plan (EGIP) / HSBC Family Goal Insurance Plan (FGIP) / HSBC Flourish Income Annuity Plan (FIAP) / HSBC Health Goal Insurance Plan (HGIP) / HSBC Jubilee Wealth Insurance Plan (JWIP) / HSBC Paramount Global Life Insurance Plan (PGIP) / HSBC Swift Guard Critical Illness Plan (SCIP) / HSBC Ultra Wealth Goal Insurance Plan (UWGIP) / HSBC Wealth Goal Insurance Plan II (WGIP2) / Income Goal Insurance Plan II (ANNB2) / Jade Global Generations Universal Life (JGG) / Jade Ultra Global Generations Universal Life (JUGG) for First-year Premium Discount Offer.

1. The 20% / 50% First-year Premium Discount (as the case may be) is only applicable to successful applications in respect of a new purchase of SCIP from Eligible Persons under Staff Promotional Offers.
2. The 21% / 10.33% First-year Premium Discount (as the case may be) is only applicable to successful applications in respect of a new purchase of EGIP/ JGG / JUGG / PGIP / WGIP2 policy currency in USD from Eligible Persons under Staff Promotional Offers.
3. The 10.33% First-year Premium Discount is only applicable to successful applications in respect of a new purchase of ANNB2 / FGIP/ FIAP / HGIP / JWIP / ULEP / ULPP policy currency in USD from Eligible Persons under Staff Promotional Offers.
4. The 6.5% First-year Premium Discount is only applicable to successful applications in respect of a new purchase of JWIP with single premium option from Eligible Persons under Staff Promotional Offers.
5. The 5.5% First-year Premium Discount is only applicable to successful applications in respect of a new purchase of EGIP / UWGIP with single premium option from Eligible Persons under Staff Promotional Offers.
6. The 3.5% First-year Premium Discount is only applicable to successful applications in respect of a new purchase of WGIP2 policy currency in USD with single premium option from Eligible Persons under Staff Promotional Offers.
7. The 2.5% First-year Premium Discount is only applicable to successful applications in respect of a new purchase of JGG / JUGG with single premium option from Eligible Persons under Staff Promotional Offers.
8. The 1.5% First-year Premium Discount is only applicable to successful applications in respect of a new purchase of ANNB2 / PGIP / ULEP / ULPP with single premium option from Eligible Persons under Staff Promotional Offers.
9. For premiums paid on an annual basis, the amount of premium payable in the first year will be calculated as:
   1. full annual premium X 0.8 / 0.5 (as the case may be) (for SCIP under Staff Promotional Offers); and
   2. full annual premium X 0.79 / 0.8967 (as the case may be) (for EGIP/JGG/JUGG/PGIP/WGIP2 policy currency in USD under Staff Promotional Offers); and
   3. full annual premium X 0.8967 (for ANNB2/FGIP/FIAP/HGIP/JWIP/ULEP/ULPP policy currency in USD under Staff Promotional Offers).
10. For single premium, the premium discount provided will be calculated as:
    1. single premium X 0.065 (for JWIP under Staff Promotional Offers); and
    2. single premium X 0.055 (for EGIP/UWGIP under Staff Promotional Offers); and
    3. single premium X 0.035 (for WGIP2 policy currency in USD under Staff Promotional Offers); and
    4. single premium X 0.025 (for JGG/JUGG under Staff Promotional Offers); and
    5. single premium X 0.015 (for ANNB2/PGIP/ULEP/ULPP under Staff Promotional Offers).
11. For aggregate premium, the premium discount provided will be calculated as:
    1. full annual premium X 0.2 / 0.5 (as the case may be) (for SCIP under Staff Promotional Offer); and
    2. full annual premium X 0.1033 (for FIAP under Staff Promotional Offer).

Specific Terms and Conditions for Mortgage Protection Plan (MPP) / Privileged Term Protection Plan (STC) / HSBC Family Protector (TFP) for the premium waiver

1. The 9 months premium wavier is only applicable to successful applications in respect of a new purchase of MPP from Eligible Persons.
2. The 9 months premium waiver is only applicable to successful applications in respect of a new purchase of TFP from Eligible Persons.
3. The 3.5 months premium wavier is only applicable to successful applications in respect of a new purchase of STC from Eligible Persons.
4. For monthly payment of premium, Eligible Persons are required to
   1. pay first 2 months’ premium up front and then all of the 3rd-11th month's premium will be waived (for MPP Policy under Staff Promotional Offers); and
   2. pay first 2 month’s premium up front and then all of the 3rd-11th month’s premium will be waived (for TFP Policy under Staff Promotional Offers); and
   3. pay first 2.5 months’ premium up front and then half of the 3rd month and all of the 4th-6th month's premiums will be waived (for STC under Staff Promotional Offers).
5. For premiums paid on an annual basis,
   1. the amount of premium payable in the first year will be calculated as full annual premium x 0.25 (for MPP under Staff Promotional Offers); and
   2. the amount of premium payable in the first year will be calculated as full first annual premium x 0.25 (for TFP under Staff Promotional Offers); and
   3. the amount of premium payable in the first year will be calculated as full first annual premium x 0.7083 (for STC under Staff Promotional Offers).

Eligible Persons / Members

Eligible Persons / Members for Staff Promotional Offers & Renewal Discount Staff Offer:

• Policyholder and/or proposed insured must be HSBC Hong Kong permanent employees (full-time or part-time) who are eligible to be covered under the HSBC group medical insurance scheme for staff in Hong Kong (“Selected HSBC Staff”)
• All members of Association of Retired Staff (“ARS”)
• Spouse, parents, parents-in-law and children of Selected HSBC Staff and all members of ARS, with submission of proof of relationship (“Family Members”)

For Life Insurance products information, please refer to HSBC Public Website (https://www.hsbc.com.hk/insurance/products/life/) or visit branch or contact your GPB Relationship Manager for details.

The life insurance plans are underwritten by HSBC Life (International) Limited ("HSBC Life"), which is authorised and regulated by the Insurance Authority of the Hong Kong SAR to carry on long-term insurance business in the Hong Kong SAR. HSBC Life will be responsible for providing your insurance coverage and handling claims under your life insurance policy. The Hongkong and Shanghai Banking Corporation Limited ("The Bank") is registered in accordance with the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong) as an insurance agency of HSBC Life for the distribution of life insurance products in the Hong Kong SAR. The above products are products of HSBC Life but not HSBC and they are intended only for sale in the Hong Kong SAR. For product details and related charges, please refer to the relevant brochures and policy provisions or contact our HSBC's branch staff.

Issued by The Hongkong and Shanghai Banking Corporation Limited, and HSBC Life (International) Limited, incorporated in Bermuda with limited liability.

DISCLAIMER: Information from this document should not be disseminated externally without the document owner's consent and should be treated as Internal.