	Travel & Leisure

	Accident

	Home

	Medical

	Life

	Claims Procedures

Retirement Planning

Wouldn't you like to continue to enjoy your life even after retirement? Hang Seng Insurance Company Limited ("Hang Seng Insurance") understands that customers have different retirement needs and financial objectives at different stages of life and is pleased to offer a series of comprehensive retirement protection products, assist you in planning ahead so that you may enjoy life today and tomorrow.

	Leisure Life Insurance Plan
	Step-up Income Life Insurance Plan

In order to examine the tendencies towards retirement planning and to understand the needs of pre-retirees, "Hang Seng Insurance" commissioned and sponsored the Nielsen Company to conduct a survey in June 2008. Some of the survey findings, along with expert's suggestions, are published in selected media for customers' reference.

Leisure Life Insurance Plan

Comprehensive Protection of Life Before and After Retirement Ensures Peace of Mind Now and a Fulfilling Future
You strive to move forward in your career with the goal of reaping the rewards of your hard work upon your retirement. The Leisure Life Insurance Plan offered by Hang Seng Insurance Company Limited ("Hang Seng Insurance") can help you prepare for your retirement life. It combines the features of whole life insurance protection and retirement savings to suit your various needs before and after retirement. The plan offers life insurance protection before your retirement, allowing you to focus on your career, and a lump-sum payment upon the commencement of your retirement, helping you to realise your retirement plans. In addition, the projected Annual Special Dividend lets you enjoy retirement life with ease.

	Two choices of retirement period according to your needs.
	Projected Retirement Payment ⁽¹⁾ equal to 120% of Sum Insured of the Basic Plan, providing you with fruitful savings upon your retirement.
	Projected Annual Special Dividend of 3.5% ⁽²⁾ , helping you to enjoy regular savings reward.
	Life insurance protection up to Insurance Age ⁽³⁾ of 99, providing you with peace of mind.
	Accidental Death Benefit ⁽⁴⁾ .
	Waiver of Premium on Disability Benefit ⁽⁵⁾ .
	Fixed premium for easy financial planning.

(1)	The Projected Retirement Payment includes the Guaranteed Retirement Payment (equal to 100% of Sum Insured of the Basic Plan) and Non-Guaranteed Extra Cash Bonus (projected to be 20% of Sum Insured of the Basic Plan), making the projected total payment equal to 120% of Sum Insured of the Basic Plan.
(2)	The Annual Special Dividend is projected to be paid out annually after the commencement of the chosen retirement period until the death of the Life Insured, or until the Life Insured reaches the Insurance Age(3) of 99 (whichever is earlier). The Annual Special Dividend is projected to be 3.5% of Sum Insured of the Basic Plan but is not guaranteed.
(3)	Insurance Age means, at any date, the age of the Life Insured or Policyholder (as applicable) on the most recent birthday prior to the Policy Date plus the number of completed Policy Years. If the Life Insured’s or Policyholder’s (as applicable) birthday is on the Policy Date, it will be calculated based on the age on such Policy Date.
(4)	In the event of accidental death of the Life Insured, the beneficiary will receive the Accidental Death Benefit, which is equal to 150% of Sum Insured of the Basic Plan. This Accidental Death Benefit will automatically terminate when the Life Insured reaches the chosen retirement age.
(5)	If the Life Insured becomes disabled for at least 183 consecutive days before the commencement of the chosen retirement age, all premiums due and payable during the period of disability are waived until the recovery of the Life Insured, or until the Life Insured reaches the chosen retirement age (whichever is earlier).

Notes :
•	The Leisure Life Insurance Plan is underwritten by Hang Seng Insurance Company Limited which is authorized and regulated by the Commissioner of Insurance of the HKSAR. Hang Seng Bank Limited is an insurance agent authorized by Hang Seng Insurance Company Limited.
•	The above information is intended as a general summary of the information only. Please refer to the relevant insurance policy for exact terms, conditions and exclusions of the Plan.

Learn more about dividend

Please call 2198 7838 or visit any of our Hang Seng Bank branches.

Top

Step-up Income Life Insurance Plan

Enjoy Monthly Income Growth Every 5 years As Your Life Prospers More Over Time
Step-up Income Life Insurance Plan (“the Plan”) of Hang Seng Insurance Company Limited (“Hang Seng Insurance”) provides you with the choice of a single payment or premium payment of 5 years and you will receive a Guaranteed Bonus⁽³⁾ in lump sum, as well as a regular Monthly Income⁽²⁾ during the Income Period⁽¹⁾ after the policy takes effect for 10 years. The Monthly Income⁽²⁾ will increase every 5 years⁽⁴⁾, therefore, you do not need to worry about your living standard being affected by the inflation, allowing you to achieve a worry-free retirement.

	Single payment or 5-Year premium payment term and choices of Income Period(1) including 10, 15 or 20 years.
	Receive a Guaranteed Bonus(3) in lump sum and Monthly Income⁽²⁾ during the Income Period⁽¹⁾ after the policy takes effect for 10 years.
	Monthly Income⁽²⁾ will be based on the initial Monthly Income⁽²⁾ with a projected increase of 50%⁽⁴⁾ every 5 policy anniversaries to withstand inflation.
	Choices of income withdrawal for more flexibility.
	Terminal Illness Benefit(5) and Unemployment Benefit(6) for extra peace of mind.
	Optional Waiver of Premium on Disability Benefit(7) for comprehensive protection.
	Guaranteed acceptance(8) and uni-rate for simple application.

(1)	Income Period refers to the period during which Monthly Income⁽²⁾ is paid.
(2)	Monthly Income includes Guaranteed Monthly Income and Non-guaranteed Monthly Income. The Non-guaranteed Monthly Income and the percentage of increase for every 5 policy anniversaries are not guaranteed. The actual Monthly Income amount paid could be higher or lower than the projected amount. During the Income Period⁽¹⁾, the Monthly Income is payable to the policyholder on each monthiversary until the end of the Income Period⁽¹⁾. The policyholder may choose to withdraw it or accumulate it with interest⁽⁹⁾.
(3)	Guaranteed Bonus is payable to the Policyholder in a lump sum upon commencement of the Income Period⁽¹⁾. The Policyholder can choose to withdraw it or accumulate it with interest⁽⁹⁾. Guaranteed Bonus is guaranteed and is calculated based on the Income Period⁽¹⁾ x Initial Guaranteed Monthly Income. For example, a Policyholder who chooses the plan with 15-Year Income Period⁽¹⁾, the Guaranteed Bonus equals the Initial Guaranteed Monthly Income x 15 months etc.
(4)	This increment will begin on the first monthiversay after the 15th policy anniversary until the end of the Income Period⁽¹⁾ and the percentage increase is not guaranteed.
(5)	Terminal Illness means a medical condition of the Life Insured that is certified by Hang Seng Insurance’s appointed Registered Medical Practitioner to be reasonably expected to result in the death of Life Insured within 6 months from the date of certification. Such medical condition and/or its signs or symptoms must first occur or commence more than 90 days following the Issue Date or effective date of last reinstatement of the policy (whichever is later). The Plan will be automatically terminated upon payout of this benefit or upon termination of the basic plan (whichever is earlier). Please refer to the relevant insurance policy for definitions, conditions and exclusions of this benefit.
(6)	After the policy has been issued for more than 2 months, if the Policyholder has been unemployed for at least 30 consecutive days and is qualified for payment of severance benefits under the Employment Ordinance of the Hong Kong SAR, the Policyholder will be eligible for Unemployment Benefit. This benefit will automatically terminate when the Policyholder reaches the Insurance Age of 65 or until the end of premium payment term (whichever is earlier). Please refer to the relevant insurance policy for definitions, conditions and exclusions of this benefit.
(7)	Waiver of Premium on Disability Benefit is only applicable to the Life Insured with Insurance Age not exceeding 60 at the time of application and relevant underwriting procedure is required. Premium of this benefit should be paid until the end of the premium payment term of the basic plan or the Life Insured reaches the Insurance Age of 65 (whichever is earlier). The Life Insured must be a Hong Kong or Macau identity card holder to be eligible for this benefit.
(8)	Guaranteed acceptance is only applicable to the Total Premium amount not exceeding HK$20,000,000/ US$2,500,000 (Total Premium refers to the total premium of Step-up Income Life Insurance Plan, Smart Income Life Insurance Plan, Income-Select Life Insurance Plan and Income Step-up Life Insurance Plan enrolled per life insured). Full underwriting procedure is required if the amount exceeds the above-mentioned Total Premium amount.
(9)	Policy Dividends and interest rates used for Policy Dividends, Guaranteed Bonus⁽³⁾ and Monthly Income⁽²⁾ accumulations are not guaranteed. Please refer to Illustration Summary for the current Dividend accumulation rate.

Notes:
•	The Step-up Income Life Insurance Plan is underwritten by "Hang Seng Insurance" which is authorized and regulated by the Commissioner of Insurance of the HKSAR. Hang Seng Bank Limited is an insurance agent authorized by “Hang Seng Insurance”.
•	The above information is intended as a general summary of the information only. Please refer to the relevant policy for exact terms, conditions and exclusions of the Plan. For details of the Plan and the policy terms, please contact any Hang Seng Bank Branch.