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Retirement Planning

	Leisure Life Insurance Plan
	Income Step-up Life Insurance Plan
	Income-Select Life Insurance Plan

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 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 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 on the birthday nearest to the Policy Date plus number of completed Policy Years.
(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).

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

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.

Income Step-up Life Insurance Plan

Monthly Income Increases Every 5 years Rest Assured for a Better Tomorrow
At the prime of your career with steady income and this is the best opportunity to plan your future. With Income Step-up Life Insurance Plan of Hang Seng Insurance Company Limited ("Hang Seng Insurance"), you only need to make a premium payment of 5 years and 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⁾ to fight against inflation, allowing you to maintain your life style for a worry-free retirement.

	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 fight against inflation.
	Choices of income withdrawal for more flexibility.
	Optional Waiver of Premium on Disability Benefit ⁽⁵⁾ for comprehensive protection.
	Guaranteed acceptance ⁽⁶⁾ and uni-rate for simple application.

Notes :
(1)	Income Period refers to the period during which Monthly Income ⁽²⁾ is paid.
(2)	Monthly Income includes Monthly Guaranteed Income and Monthly Non-guaranteed Income. The Monthly Non-guaranteed 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 ⁽⁷⁾ .
(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 ⁽⁷⁾. Guaranteed Bonus is guaranteed and is calculated based on the Income Period ⁽¹⁾ x Monthly Guaranteed Income. For example, a Policyholder who chooses the plan with 15-Year Income Period ⁽¹⁾, the Guaranteed Bonus equals the 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⁾.
(5)	Waiver of Premium on Disability Benefit is only applicable to the life insured with insurance age ⁽⁸⁾ not exceeding 60 at the time of application and relevant underwriting procedure is required. The premium is payable 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).
(6)	Guaranteed acceptance is only applicable to the Total Premium Paid amount not exceeding HK$20,000,000 / US$2,500,000 (Total Premium Paid refers to the total premium of 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 Paid amount.
(7)	Policy Dividends and interest rates used for Policy Dividends accumulations, Guaranteed Bonus ⁽³⁾ accumulations and Monthly Income ⁽²⁾ accumulations are not guaranteed.
(8)	Insurance age means, at any date, the insurance age of the life insured on the birthday nearest to the Policy Date plus number of completed Policy Years.

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

•	The Income Step-up- 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.

Income-Select Life Insurance Plan

A Choice of Premium Payment Terms and Income Withdrawal Methods to suit your Personal Financial Needs
Income-Select Life Insurance Plan of Hang Seng Insurance Company Limited ("Hang Seng Insurance") provides you with various premium payment terms and income withdrawal methods to suit your personal financial needs, helping you to achieve your ideal retirement life or financial goals with more flexibility.

	Choices of Income Period ⁽¹⁾ - 10, 15 or 20 years or up to the insurance age ⁽²⁾ of 88, providing you with more financial flexibility.
	Choices of Premium Payment Term ⁽³⁾ - make a single payment or 3 years to 20 years payments.
	Flexible Income Withdrawal Options: Regular Withdrawal - Receive the Guaranteed Bonus ⁽⁴⁾ in lump sum upon commencement of Income Period ⁽¹⁾ and Monthly Income ⁽⁵⁾ during the Income Period ⁽¹⁾. Accumulation for Future Use - Retain the Guaranteed Bonus ⁽⁴⁾ and Monthly Income ⁽⁵⁾ received during Income Period ⁽¹⁾ for interest accumulation ⁽⁶⁾ . Immediate Withdrawal - Withdraw the Total Cash Value ⁽⁷⁾ of the policy in lump sum upon commencement of Income Period ⁽¹⁾.
	Optional Waiver of Premium on Disability Benefit ⁽⁸⁾ for comprehensive protection.
	Guaranteed acceptance ⁽⁹⁾ and uni-rate ⁽¹⁰⁾ for simple application.

Notes :
(1)	Income Period refers to the Period during which Monthly Income ⁽⁵⁾ is paid. Depending on the period chosen in which Monthly Income ⁽⁵⁾ is received, Income Period will commence from 10 years to 20 years from the Policy Date.
(2)	Insurance age means, at any date, the age of life insured on the birthday nearest to the Policy Date plus the number of completed Policy Years.
(3)	Available options of premium payment term depends on the period chosen in which Monthly Income ⁽⁵⁾ is received.
(4)	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 ⁽⁶⁾. Guaranteed Bonus is guaranteed and is calculated based on the Income Period ⁽¹⁾ x Guaranteed Monthly Income. For example, a policyholder who chooses the plan with a 15-Year Income Period ⁽¹⁾, the Guaranteed Bonus equals the Guaranteed Monthly Income x 15 months etc.
(5)	Monthly Income includes Monthly Guaranteed Income and Monthly Non-guaranteed Income. The Monthly Non-guaranteed Income is not guaranteed and the actual 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 ⁽⁶⁾ .
(6)	Policy dividends and interest rates used for Policy Dividends, Guaranteed Bonus ⁽⁴⁾ and Monthly Income ⁽⁵⁾ accumulations are not guaranteed.
(7)	Before the commencement of the Income Period ⁽¹⁾, Total Cash Value includes Guaranteed Cash Value and accumulated Policy Dividends ⁽⁶⁾ (if any). Upon complete withdrawal of the Total Cash Value, the policy will be terminated.
(8)	Waiver of Premium on Disability Benefit is only applicable to the life insured with insurance age ⁽²⁾ not exceeding 60 at the time of application and relevant underwriting procedure is required. The premium is payable 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).
(9)	Guaranteed acceptance is only applicable to the Total Premium Paid amount not exceeding HK$20,000,000 / US$2,500,000 (Total Premium Paid refers to the total premium of 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 Paid amount.
(10)	Uni-rate is not applicable to those plans with Income Period ⁽¹⁾ upto the insurance age ⁽²⁾ of 88. Premium of Income-Select Life Insurance Plan - Age 88 is determined by the insurance age ⁽²⁾ of the life insured upon issuance of the policy.

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

•	The Income-Select 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.

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