To ensure continuing protection for our customers, some of our life insurance policies will become Extended Term Insurance if a premium is not paid when due. As part of our ongoing commitment to improving customer service, a review has been conducted recently in the way which our life insurance policies were managed following non-receipt of premium. We have identified that some policyholders of the following life insurance plans are affected by calculation error at the time of the conversion of the Extended Term Insurance benefits.
Life Insurance Plans
5-Year Excel Life Insurance Plan
5-Year Select Life Insurance Plan
All Years Reward Life Insurance Plan
EasyLife Retirement Plan
Education Savings Protection Plan
Leisure Life Insurance Plan
Lifelong Reward Protection Plan
Lifetime Protection Plan
Maxi-protection Life Insurance Plan
PerfectLady Protection Plan
Target Savings Plan
Target Wealth Life Insurance Plan
Target Wealth Life Insurance Plan Plus
Total Care Lady Protection Plan
Treasure Life Insurance Plan
Since August 2017, we have been contacting these policyholders on the matter. If you have been contacted and / or have any queries, please call our Hang Seng Insurance Service Hotline on (852) 2998 8320 (Monday to Friday from 8:45am to 5:30pm, Saturday from 9am to 1pm).
QBE General Insurance (Hong Kong) Limited shall have the right in accordance with the related guideline from regulators and relevant regulations to cancel all insurance applications of the concerned customers and / or to cancel the all insurance applications accepted retrospectively and no claim shall be paid arising from such policies concerned.