5-Year eEndowment Life Insurance Plan

Please note the relevant product risks. The above life insurance plan is underwritten by Hang Seng Insurance Company Limited

Plan overview

5-Year eEndowment Life Insurance Plans – The Choice 5-Year Life Insurance Plan (HKD) / (USD) and ImperialDragon (RMB) Life Insurance Plan are life insurance plans with saving element underwritten by Hang Seng Insurance Company Limited (“Hang Seng Insurance”). These plans are neither bank deposit nor banking saving plan but designed as a short policy term of 5-year life protection and provide a Guaranteed Cash Value upon maturity to help you to achieve your financial goals with greater ease. You no longer have to spend time on the comparison of endowment life insurance plan. Application is easy - simply submit your application online.

Only 3 simple steps to apply online – Quote > Apply > Payment

Key features

The plans provide 3 currency options, enable the Policyholder of endowment life insurance plan to achieve the saving goal by 5 years with 2 years premium payment period at ease.

  • The Choice 5-Year Life Insurance Plan (HKD) : With 1st year premium discount, you can enjoy up to 2.1% annualized guaranteed rate of return, with Guaranteed Cash Value of 109.8% of the Total Premium Paid upon maturity
  • The Choice 5-year Life Insurance Plan (USD) : With 1st year premium discount, you can enjoy up to 2.3% annualized guaranteed rate of return , with Guaranteed Cash Value of 110.8% of the Total Premium Paid upon maturity
  • The ImperialDragon (RMB) Life Insurance Plan : With 1st year premium discount, you can enjoy up to 3.5% annualized guaranteed rate of return , with Guaranteed Cash Value of 116.7% of the Total Premium Paid upon maturity

A short premium payment period of 2 years with your preferred payment mode (monthly or annual payment mode).

There are 4 choices of premium option to suit your saving plan.

  • Annual mode[2] (HKD Plan): HKD7,200 / HKD12,000 / HKD36,000 / HKD60,000
  • Annual mode[2] (USD Plan): USD900 / USD1,500 / USD4,500 / USD7,500
  • Annual mode[2] (RMB Plan): RMB36,000 / RMB60,000 / RMB120,000 / RMB180,000
  • Monthly mode (HKD Plan): HKD600 / HKD1,000 / HKD3,000 / HKD5,000
  • Monthly mode (USD Plan): USD75 / USD125 / USD375 / USD625
  • Monthly mode (RMB Plan): RMB3,000 / RMB5,000 / RMB10,000 / RMB15,000

In the unfortunate event of the death of the Life Insured while the policy is in force, the beneficiary(ies) will receive a lump-sum payment of Guaranteed Death Benefit equal to 101% of the Total Premiums Paid for the Basic Plan as at the date of the death of the Life Insured or 101% of Guaranteed Cash Value (whichever is greater), less indebtedness (if any).

In the unfortunate event of the accidental death of the Life Insured while the policy is in force, in addition to the above Guaranteed Death Benefit, the beneficiary(ies) will receive the Accidental Death Benefit, which equals to 30% of the Total Premiums Paid under the Basic Plan less indebtedness (if any).

Are you worrying that you may need to withdraw your endowment life insurance plan if you are unemployed? Actually, Hang Seng’s endowment life insurance plan provides unemployment benefit. If you are unemployed for at least 30 consecutive days in the unfortunate event of dismissal by reason of redundancy while the Policy is in force, you can apply for temporary suspension of payment of the premium due to a maximum of 365 days from the first premium payment due date after unemployment. Throughout this period, the Life Insured can still enjoy all the benefits as specified in the policy.

5-Year eEndowment Life Insurance Plan (Online Version) is limited offer only. “Hang Seng Insurance” reserves the right to stop online applications of the Plan without prior notice. “Hang Seng Insurance” reserves the right to accept or decline any applications for the Plan based on the information provided by the Life Insured and / or Policyholder during online enrollment.

If you wish to know more such as about product coverage, product risk and exclusions, please read the Product Brochure – The Choice 5-Year Life insurance Plan (HKD),  Product Brochure – The Choice 5-Year Life Insurance Plan (USD) or  Product Brochure – ImperialDragon (RMB) Life Insurance Plan .

Learn more

How to achieve your saving goal with endowment life insurance plan?

Mr. Chan wants to purchase his first car but does not have enough savings, so he chooses to enroll The Choice 5-Year Life insurance Plan (HKD) and selects HKD60,000 annual payment mode to accumulate wealth at ease.

  1. Year 1

    Enrolment of plan and accumulation period starts

    First year premium: HKD58,433.9(with premium discount*)

  2. Year 2

    Accumulation period continues

    Second year premium: HKD59,999.9(with no premium discount)

  3. Year 3 to Year 4

    Accumulation period continues

  4. Year 5

    End of accumulation period – Receive Guaranteed Cash Value upon maturity at the fifth year

    HKD130,036 (109.8% of total premium paid)

With total premiums paid in the first 2 years, customers can enjoy up to 2.1% annualized return and receive up to 109.8% Guaranteed Cash Value upon maturity.

*Assume the Premium Discount is around 2.61%

Eligibility

  • 5-Year eEndowment Life Insurance Plans are only available to tax residents of Hong Kong aged between 18 - 64, the applicant also needs to possess valid Hong Kong Identity Card and Hang Seng bank account.
  • Premium payment should be debited from customer’s Hang Seng Bank account.

FAQs

Common questions

You may choose to pay your premiums in HKD or policy currency.

Policy currency

Payment currency

HKD HKD
USD USD or HKD
RMB RMB or HKD

If you choose to pay your premiums for your non-HKD policy in HKD, currency conversion is subject to the market-based prevailing exchange rate as determined by Hang Seng Insurance Company Limited (“Hang Seng Insurance”) on the premium payment date when processing the premium payment. This exchange rate is subject to market fluctuation and will have a direct impact on the amount of the premium payment in HKD. Please ensure there are sufficient funds for premium payments in your designated payment account[3] to avoid service charges incurred due to insufficient funds.

Yes, you may apply online for more than one Hang Seng Insurance’s 5-Year eEndowment Life Insurance Plan policy.

If you would like to apply more than one The Choice 5-Year Life Insurance Plan policy (HKD /USD) policy, please note that your total premium paidpoint1 for all life insurance plans in Hang Seng Insurance cannot exceed HKD40,000,000 or USD5,000,000.

If you would like to apply for more than one ImperialDragon (RMB) Life Insurance Plan policy, please note that your total premium paid for the Plan through Hang Seng Insurance cannot exceed RMB11,000,000.

The Choice 5-Year Life Insurance Plan (HKD/ USD) and ImperialDragon (RMB) Life Insurance Plan accept only online application currently.

The rate is different because the return rate in the online quote result included the first year premium discount. Please refer to the online quote result.

FAQs

You may choose to pay your premiums in HKD or policy currency.

Policy currency

Payment currency

HKD HKD
USD USD or HKD
RMB RMB or HKD

If you choose to pay your premiums for your non-HKD policy in HKD, currency conversion is subject to the market-based prevailing exchange rate as determined by Hang Seng Insurance Company Limited (“Hang Seng Insurance”) on the premium payment date when processing the premium payment. This exchange rate is subject to market fluctuation and will have a direct impact on the amount of the premium payment in HKD. Please ensure there are sufficient funds for premium payments in your designated payment account[3] to avoid service charges incurred due to insufficient funds.

Yes, you may apply online for more than one Hang Seng Insurance’s 5-Year eEndowment Life Insurance Plan policy.

If you would like to apply more than one The Choice 5-Year Life Insurance Plan policy (HKD /USD) policy, please note that your total premium paidpoint1 for all life insurance plans in Hang Seng Insurance cannot exceed HKD40,000,000 or USD5,000,000.

If you would like to apply for more than one ImperialDragon (RMB) Life Insurance Plan policy, please note that your total premium paid for the Plan through Hang Seng Insurance cannot exceed RMB11,000,000.

The rate is different because the return rate in the online quote result included the first year premium discount. Please refer to the online quote result.

The Choice 5-Year Life Insurance Plan (HKD/ USD) and ImperialDragon (RMB) Life Insurance Plan accept only online application currently.

Once you complete the online 5-Year eEndowment Life Insurance Plan application form, you will be asked to confirm and verify your details on a preview page. The same day, a confirmation email will be sent to the email address you provided in your application, assuring you that your application has been received.

We will notify you regarding the outcome by sending a SMS to your default mobile number on record at Hang Seng Bank after five to seven working days, and the policy will be delivered to your default postal address on record at Hang Seng Bank once your application has been approved. This simplified process frees you from the hassle of typical insurance applications. You can also call our hotline at (852) 2198 7838 for queries. 

Our 5-Year eEndowment Life Insurance Plan offers a grace period of 30 days for payment of any premium when due. If a premium is not paid by the end of the grace period, the policy will immediately lapse.

If you are a Hang Seng Bank Personal e-Banking customer, you can manage your policy(ies) and check policy information 24/7 via Personal e-Banking (Insurance Overview). You may also call our hotline at (852) 2596 6262 for queries about your policy. 

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Make a claim

Claim procedures

Find details on how to submit your claim and more.
 

Download form

You can find all the forms and documents here for our insurance products.
 

Need more help?

Call us (General enquiry)

(852) 2198 7838

Service hours:

Mon to Fri: 9:00am to 5:30pm

Sat: 9:00am to 1:00pm

Call us (Policy enquiry)

(852) 2596 6262

Service hours:

Mon to Fri: 9:00am to 5:45pm

Sat: 9:00am to 1:15pm

Closed on Sunday and Public Holidays

Footnote

Other point(s) to note

  1. The Choice 5-Year Life Insurance Plan policy (HKD /USD) and ImperialDragon (RMB) Life Insurance Plan are underwritten by Hang Seng Insurance. Hang Seng Insurance is authorised and regulated by the Insurance Authority of the HKSAR. Hang Seng Bank Limited (“Hang Seng Bank”) is an insurance agent authorised by Hang Seng Insurance and the insurance products are products of Hang Seng Insurance but 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 and you directly.
  2. The above information is intended as a general summary of information for reference only. It shall not be construed as an offer to sell or solicitation of an offer or recommendation to purchase or sale or provision of any products of Hang Seng Insurance outside Hong Kong. Please refer to the actual policy for the exact terms, conditions and exclusions of the Plan.

Remark(s)

  1. This is a rate of Guaranteed Cash Value upon maturity of RMB plan in annual payment mode with first year premium discount included. Terms and conditions apply. Limited Quota.
  2. For Annual Mode, there will be within 0.001% difference between the actual premium figures and the quoted premium amount due to rounding up of the system setting.
  3. If integrated account is chosen for payment, the premium will be debited from your Hang Seng Bank current account by Hang Seng Insurance.