Business Succession

1. There is no limit on the number of times in Change of Life Insured under corporate policies. Change of Life Insured is only allowed after the 1st policy year and subject to evidence of insurability and approved by HSBC Life (International) Limited (“the Company”); and is subject to the underwriting conditions of the Life Insured. Any such request will be assessed on case-by-case basis and is at our discretion, with consideration of multiple factors, including but not limited to the change in underlying mortality risk, change in policy term, latest economic outlook; and is at our discretion.

2. You may select a NLG Benefit to age 100 when you purchase this Plan. We shall then maintain the specified Sum Insured in force until the death of the Life Insured or the Life Insured reaches age 100. Please note that this option is only applicable to USD as the policy currency with single premium payment and without the selection of the Critical Illness Advance Payment option. You may surrender a portion of the Account Value up to the amount of premiums cumulatively paid beyond the specified NLG Benefit minimum premium, without affecting the NLG Benefit option. Otherwise, the NLG Benefit option will cease to apply to your policy.

3. This option allows you to lock in a Guaranteed Crediting Interest Rate on your first premium for 1, 3 or 5 years if the policy currency is in USD or AUD; while 1-year option can be chosen if the policy currency is in CNY. Exit of Guaranteed Crediting Interest Rate Lock benefit is subject to Exit Value Adjustment (EVA).

Jade Global Generations Universal Life is a long term universal life insurance plan with a savings element. This plan is not equivalent or similar to any kind of deposit. It is underwritten by the Company. The Company is incorporated in Bermuda with limited liability, and is one of the HSBC Group’s insurance underwriting subsidiaries. The Company is authorised and regulated by the Insurance Authority (“IA”) to carry on long term insurance business in the Hong Kong SAR. The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) is an insurance agency authorised by the Company. The plan is a product of the Company but not HSBC and it is intended only for sale through HSBC in the Hong Kong SAR.

The plan provides guaranteed cash value and non-guaranteed special bonus. The amount of any potential special bonus will be determined by the Company when it becomes payable. If the policyholder discontinues and/or surrenders the policy early, the amount of the benefits he/she will get back may be considerably less than the total premiums paid.

The policyholder 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.

Please refer to the plan’s product brochure and policy provisions for detailed features, terms and conditions and exclusions.

The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) is registered in accordance with the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong) as an insurance agency of the Company for the distribution of life insurance products in the Hong Kong SAR. The life insurance products mentioned above are products of the Company but not HSBC. 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 HSBC and the HSBC Commercial Banking Customer out of the selling process or processing of the related transaction, HSBC is required to enter into a Financial Dispute Resolution Scheme process with the HSBC Commercial Banking Customer; however, any dispute over the contractual terms of the above insurance products should be resolved between the Company and the HSBC Commercial Banking Customer directly.

This webpage contains general information only. It does not constitute any offer for any insurance product. For product details, terms, conditions and exclusions, please refer to the relevant policy contracts, product brochures and proposals.