HSBC Health Goal Insurance Plan

Product highlights

An innovative solution for retaining your talented employees through additional benefits and providing your company with long-term wealth growth potential.

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+852 2748 8238

Please contact your Relationship Manager or Insurance Sales Manager for further details.

A pioneering insurance solution for your company and your key employees’ health and wealth

Wealth and people are your two most important assets. Giving your key employees enhanced benefits on top of their regular remuneration is one of the best ways to retain and incentivise them to reach even higher levels of performance for your business.

HSBC Health Goal Insurance Plan is designed to give you the versatility to strengthen your company’s financial position and incentivise your best people at the same time.

HSBC Health Goal Insurance Plan is a long-term participating life insurance product with a savings element. It is underwritten by HSBC Life (International) Limited and is not equivalent or similar to any kind of deposit.

Exclusive offers

HSBC Commercial Banking customers who have successfully applied for the HSBC Health Goal Insurance Plan during the promotional period can enjoy the following offers*:

Promotional period: from today to 31 August 2020 (both dates inclusive)

Payment Mode Single Premium / 1st  Year Annualised Premium Requirement Premium Discount

 

Single Pay

Single premium below USD120,000

1.5% of the single premium amount

Single premium greater than or equal to USD120,000 and less than USD195,000

2.5% of the single premium amount

Single premium USD195,000 or above

3.5% of the single premium amount

Monthly^ / Annual Pay
(3 year/ 5 year/ 10 year)

1st year annualised premium (or annual premium) below USD40,000

4.5% of the first year premium amount

1st year annualised premium (or annual premium) greater than or equal to USD40,000 and less than USD65,000

7.5% of the first year premium amount

1st year annualised premium (or annual premium) USD65,000 or above

10.5% of the first year premium amount

 

*Please refer to “General Terms and Conditions (PDF, 1.04MB)” for details of the offers.

^For monthly payment mode, the 1st year annualised premium will be determined by multiplying the monthly premium payment by 12.

Key features and benefits

Potential Wealth Growth:

  • Pay a single premium or premiums over a certain number of years to reap the rewards of guaranteed and non-guaranteed long-term wealth growth through potential returns.

3 x Critical Illness Benefit1:

  • An additional lump-sum payment will be made for cancer, heart disease or stroke until the age of 80 (age at the person’s next birthday (“ANB”) up to three times (one for each disease) and subject to a one-year waiting period from the last claim of any of these benefits, with total payments for Critical Illness claims totalling up to 150% of total premiums paid. The policy value will remain unchanged after these claims. This way, your business will have instant cash flow for contingency arrangements when a key person is unable to work due to Critical Illness.

Benefit Transfer2:

  • The company can transfer the policy’s benefits to a key person by changing the life insured up to three times after the 3rd policy year or after the premium payment period provided that all premiums have been fully paid (whichever is later).

Please see product summary, important notes and key risks in the product brochure (PDF, 2.13MB).

For more details about participating policy, please refer to policy dividend leaflet (PDF, 54KB) for participating products.

More information

We are here to support you to protect your business. Please contact your Relationship Manager, Insurance Sales Manager or visit HSBC Business Centre for further details.

Notes

  1. Critical Illnesses Benefits consist of Cancer Benefit (Additional Payment), Heart Disease Benefit (Additional Payment) and Stroke Benefit (Additional Payment). Each of these Benefits is payable once only. If life insured is diagnosed with any of diseases covered under these Critical Illnesses Benefits before the age of 80 (Age Next Birthday) and has survived for no less than 14 days following the diagnosis, you will receive an additional lump sum payment which is equal to 50% of your policy’s Notional Amount3 (“Benefit Payment”). The Critical Illness Benefits are payable up to a maximum of three times and subject to a one-year waiting period from the last claim of any of these benefits and the following exclusions:

    (i) Any pre-existing conditions from which the Life Insured was suffering prior to the Issue Date, the Policy Date, the effective date of last reinstatement or the effective date of Change of Life Insured provided that the Critical Illness Benefits are still eligible for claims pursuant to the policy term, whichever is the latest; or

    (ii) Any illness contracted by the Life Insured within the first ninety (90) days following the Issue Date, the Policy Date, the effective date of last reinstatement or the effective date of Change of Life Insured provided the Critical Illness Benefits are available pursuant to the policy term, whichever is the latest; or

    (iii) Intoxication by drugs not prescribed by a Registered Medical Practitioner or abuse of alcohol; or

    (iv) Presence of Human Immunodeficiency Virus (HIV) infection on or before the diagnosis date of Critical Illness (except for “HIV Due to Blood Transfusion and Occupationally Acquired HIV” as defined in the policy term).

    These Critical Illnesses Benefits will terminate when the life insured attains the age of 80 (ANB), payout of the relevant Critical Illnesses Benefits or the policy is terminated (whichever is earlier).

    Please refer to the respective Policy Provisions for detailed terms, conditions and exclusions. You should consult with professionals or seek professional advice if you are in doubt about the definitions and exclusions.

  2. You are entitled to the change of life insured of your policy for up to three times after the third policy year or after the end of the premium payment period provided all premiums are fully paid, whichever is later. Change of life insured is subject to evidence of insurability and our approval which is based on the underwriting conditions of the life insured.

    Critical Illnesses Benefits will be transferred together with the basic plan to the new life insured provided no claims have been made under the Critical Illnesses Benefits by the original life insured. However, if any of these benefits has been claimed by the original life insured before the acceptance of change of life insured, the Critical Illnesses Benefits under this policy shall cease to operate for the new life insured.

    The maturity date of the policy will also be reset to age 99 (ANB) of the new life insured. A new incontestability period will also apply. Any change of life insured may trigger consequential adjustments in the Notional Amount3, Guaranteed Cash Value, Special Bonus4 (if any), the Death Benefit and Critical Illnesses Benefits (if any). If it triggers a lower new Notional Amount3, the Policyholder may apply to increase the new Notional Amount3 for the new life insured up to the amount of the original Notional Amount3 before the change with the payment of additional premium. Any such request will be assessed on case-by-case basis and is at our discretion.

  3. Notional Amount is an amount used to determine the premiums payable under this policy and your cash values, Special Bonus4 and amounts of Cancer/Heart Disease/Stroke Benefit (Additional Payment) to be received under the basic plan of this policy. It does not represent the amount of death benefit payable.
  4. The amount of Special Bonus, if any, is not guaranteed and subjected to our absolute discretion.

Disclaimers

HSBC Life (International) Limited (“the Company”) is incorporated in Bermuda with limited liability, and is one of the HSBC Group’s insurance underwriting subsidiaries.

Hong Kong SAR office
18/F, Tower 1, HSBC Centre, 1 Sham Mong Road, Kowloon, Hong Kong
The Company is authorised and regulated by the Insurance Authority to carry on long-term insurance business in the Hong Kong SAR.
The Hongkong and Shanghai Banking Corporation Limited (referred to as “HSBC”) is an insurance agent of the Company.

HSBC Health Goal Insurance Plan is underwritten by the Company, it is a product of the Company but not HSBC and it is only intended for sale through HSBC in the Hong Kong SAR. HSBC has not authorised or appointed any intermediaries to conduct telesales marketing activities for promotion of insurance plans.

HSBC Health Goal Insurance 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 in the early policy years, the amount of the policy values or benefits which may be payable to the policyholder may be considerably less than the total premiums paid.

HSBC Health Goal Insurance Plan is a long-term participating life insurance product with a savings element. It is not equivalent or similar to any kind of deposit.

The policyholder is subject to the credit risk of the Company. The 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.

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 insurance product should be resolved between the Company and you 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.

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