MaxiAnnuity Life Insurance Plan (“MaxiAnnuity” or “the Plan”) is a life insurance plan and is not a bank deposit. It is underwritten by Hang Seng Insurance Company Limited (“Hang Seng Insurance”).
When you are aware of your retirement direction, you can practically plan ahead for your retirement. MaxiAnnuity Life Insurance Plan (“MaxiAnnuity” or “the Plan”) provides flexible annuity options and different payment options. You can choose among different payment terms and accumulation period to enjoy an Income Period of 20 years. To enjoy a fruitful retirement life, you can even receive Annual Guaranteed Bonus on each Policy Anniversary after the commencement of Income Period and receive Special Guaranteed Bonus on the 10th and 20th Policy Anniversary after the commencement of Income Period.
|Insurance Age : 45 (Male)||Monthly Guaranteed Income : HK$2,000|
|Annual Premium : HK$163,200||Monthly Non-Guaranteed Income : HK$432.52|
|Payment Term : 3 years||Annual Guaranteed Bonus : HK$2,000|
|Accumulation Period : 3 years||Special Guaranteed Bonus : HK$10,000|
|Insurance Age : 45 (Male)||Monthly Guaranteed Income : HK$3,000|
|Annual Premium : HK$252,720||Monthly Non-Guaranteed Income : HK$480.74|
|Payment Term : 3 years||Annual Guaranteed Bonus : HK$3,000|
|Accumulation Period : 1 year||Special Guaranteed Bonus : HK$15,000|
By choosing plans denominated in currencies other than the local currency, you are subject to exchange rate risks. Exchange rates fluctuate from time to time. Upon the currency conversion, you may suffer a loss of your benefit values and the subsequent premium payments (if any) may be higher than your initial premium payment as a result of the exchange rate fluctuations. Exchange controls imposed by the relevant authorities may also adversely affect the applicable exchange rate.
The MaxiAnnuity Life Insurance Plan is underwritten by Hang Seng Insurance Company Limited, which is authorised and regulated by the Insurance Authority of the HKSAR. Hang Seng Bank is an insurance agent authorised by Hang Seng Insurance Company Limited and the products are those of Hang Seng Insurance Company Limited, not Hang Seng Bank.
In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between Hang Seng Bank and you out of the selling process or processing of the related insurance product transaction, Hang Seng Bank will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance products should be resolved between Hang Seng Insurance Company Limited and you directly.
The above information is intended as a general summary of information only. Please refer to the actual policy for the exact terms, conditions and exclusions of the Plan.
You understand that this Plan is underwritten by Hang Seng Insurance Company Limited. You have to pay premium to Hang Seng Insurance Company Limited for your application for this Plan. The premium includes various fees and charges such as insurance cost (e.g. cost of death benefit determined formulated according to the mortality rate that is affected by sex and age of the insured person) and policy administration charges, etc. You also understand that Hang Seng Insurance Company Limited will pay commissions and sales incentives to “Hang Seng Bank” for marketing this Plan. The current remuneration system that “Hang Seng Bank” adopts is a measurement of the staff’s overall performance instead of focusing on sales production only.