CompanionLife Insurance Plan

Three-in-one protection to help you achieve your life goals

Successfully apply to enjoy first-year premium discount.

Terms and Conditions apply. Please note the relevant product risks.
Plan overview

CompanionLife Insurance Plan is a three-in-one plan designated to provide you with whole life protection to overcome life difficulties related to family, illness or retirement. It offers high potential returns to attain wealth preservation for your retirement life. 

Key features

The Plan offers death benefit until the Life Insured’s Insurance Age of 99.

In the unfortunate event of the death of the Life Insured during the first 20 policy years, after deducting the Indebtedness (if any), the Beneficiary(ies) will receive Sum Insured and Special Dividend (if any) as of the date of passing away of the Life Insured.

If the Life Insured passes away after the policy’s first 20 years, after deducting the Indebtedness (if any), the Beneficiary(ies) will receive:

  • the higher of Total Basic Plan Premiums Paid plus USD2,500 or Guaranteed Cash Value as of the date of passing away of the Life Insured
  • Special Dividend (if any), plus Policy Value Management Balance (if any), both as of the date of passing away of the Life Insured

The Plan offers 5 years and 10 years of payment terms, allowing you to budget your finances with greater flexibility. 

In the event of policy termination, a lump-sum non-guaranteed Special Dividend (if any) may become payable to you or the Beneficiary(ies), providing extra potential returns.

While the policy is in-force and upon attaining the 20th policy year, the Policyholder has the right to exercise the Policy Value Management Option, to lock-in a portion of the Plan’s Net Cash Value.

Free Supplementary Benefits, include the Unemployment Benefit, the Accelerated Death Benefit and the Cancer and Disability Benefit.

With our Preferential Underwriting Procedure, applying for “CompanionLife”  is simple. Provided that the Life Insured and / or the Policyholder fulfil the Insurance Age and the plan’s other application requirements, medical examinations or health declarations are not required, making it easier for you to secure the protection you need.

Remark(s): Please refer to the Product Brochure for detailed Terms and Conditions and exclusions. Please refer to the Notes on Participating Policy for details of dividend philosophy, investment strategy and historical fulfilment ratio of dividend distribution.

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Claim procedures

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Forms and documents centre

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Other point(s) to note
  1. CompanionLife Insurance Plan (“the 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 product is a product of Hang Seng Insurance Company Limited, not Hang Seng Bank.
  2. 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.
  3. 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.
  4. You understand that the Plan is underwritten by Hang Seng Insurance Company Limited. You have to pay premium to Hang Seng Insurance Company Limited for your application for the 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 the 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.
  5. Please refer to the Product Brochure for detailed terms and conditions and exclusions. And please refer to the Notes on Participating Policy for details of dividend philosophy, investment strategy and historical fulfilment ratio of dividend distribution.