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- Age means the age of the Life Insured or the Policyholder where applicable at his/her next birthday.
- A maximum of 3 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.
HSBC Ruby Global Life Insurance Plan is a whole 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 agent 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.
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 the Company and you directly.