HSBC Life (International) Limited is a registered VHIS Provider (Registration Number: 00042, Effective Date of Registration:29 May 2020)

Remarks

1. Offer ends 30 Apr 2021. T&Cs apply.
2. Tax deduction eligibility is only available to policyholders or their spouse who are Hong Kong taxpayers. Tax deduction for the qualifying premiums paid under a VHIS policy (not including levy) will be based on the premiums paid after deducting the premium discount (if any) for each year of assessment. The actual tax savings may be lower than the illustrated amount and is subject to review and agreement by the Inland Revenue Department on a case-by-case basis. For more information, please refer to www.ird.gov.hk or seek independent tax advice.
3. Pre-existing condition(s) shall mean, in respect of the insured person, any sickness, disease, injury, physical, mental or medical condition or physiological degradation, including congenital condition, that has existed prior to the policy issuance date or the policy effective date, whichever is earlier. An ordinary prudent person shall be reasonably aware of a pre-existing condition, where - (a) it has been diagnosed; (b) it has manifested clear and distinct signs or symptoms; or (c) medical advice or treatment has been sought, recommended or received. HSBC Life (International) Limited (“HSBC Life”) may impose case-based exclusion(s) to the pre-existing condition(s) it is notified of in the application for the plan and any subsequent information or document submitted to HSBC Life for the purpose of the application. Unknown pre-existing condition(s) refers to any pre-existing condition(s) that the policy holder and/or insured person was not aware and would not reasonably have been aware of at the time of application. Please refer to the policy provisions for the full terms and conditions.
4. Unless otherwise specified, all ages mentioned in this webpage refer to the age of the insured person on his or her last birthday.
5. The example is simplified case study for general reference purpose only. Please refer to the respective product brochure for detailed features and the policy provisions for the detailed terms and conditions.
6. The maximum tax deduction amount is calculated based on the assumption that a taxpayer paying a total of HKD60,000 of premiums under the qualifying deferred annuity policy and HKD8,000 of premiums under the VHIS policy after deducting all premium discounts (not including levy on both premiums) during the relevant year of assessment. The actual tax saving may be lower than the illustrated amount and will be subject to review and agreement by the Inland Revenue Department.
7. HSBC Life shall have the absolute right to determine tele-application eligibility.

 
Disclaimer

Please refer to the product brochures of the respective products for their detailed product features and associated risks, and please refer to the policy provisions for the detailed terms and conditions. The HSBC qualifying deferred annuity policies are long term-participating life insurance plan with saving elements and HSBC Voluntary Health Insurance Flexi Plan is a standalone indemnity hospital insurance plan which is certified by the Food and Health Bureau of the HKSAR government.

HSBC qualifying deferred annuity policies and HSBC Voluntary Health Insurance Flexi Plan mentioned are not any kind of bank deposit or bank savings plan Both are underwritten by HSBC Life (International) Limited (“HSBC Life”) and are intended only for sale in the Hong Kong SAR. HSBC Life is incorporated in Bermuda with limited liability, and is one of the HSBC Group’s insurance underwriting subsidiaries. HSBC Life is authorised and regulated by the Insurance Authority (“IA”) of the Hong Kong SAR to carry on long-term insurance business in the Hong Kong SAR. Policyholders are subject to the credit risk of HSBC Life. The premiums paid will form part of HSBC Life’s assets. You do not have any rights or ownership over any of these assets. Your recourse is against HSBC Life only. If the policyholder discontinues and / or surrenders the HSBC qualifying deferred annuity policies 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. Surrendering of HSBC Voluntary Health Insurance Flexi Plan after cooling-off period, the policyholder shall not entitle a refund of any premiums paid.

The Hongkong and Shanghai Banking Corporation Limited (referred to as "HSBC") is an insurance agent of HSBC Life for the distribution of life insurance products. 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 HSBC Life and you directly.

If you are in doubt about the meaning or the effect of the contents on this website, you should seek independent professional advice. Please note that the tax law, regulations and / or interpretations are subject to change and may affect any related tax benefits including the eligibility criteria for a tax deduction. HSBC Life or HSBC are not responsible for informing you about any changes in laws, regulations or interpretations, and how they may affect you. Further information regarding tax concessions applicable to Qualifying Deferred Annuity Policies and Voluntary Health Insurance Policies may be found at the webpage of the Insurance Authority: www.ia.org.hk