eIncomePro Deferred Annuity Plan (100% Guaranteed)

Apply online with no hassle to enjoy 10-year guaranteed annuity income and tax deduction

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

eIncomePro Deferred Annuity Plan (100% Guaranteed) (“eIncomePro” or “the Plan”) is a life insurance plan with saving elements and is not equivalent or similar to any kind of bank deposit. It is underwritten by Hang Seng Insurance Company Limited (“HSIC”). eIncomePro has been certified by the Insurance Authority (“IA”) as Qualifying Deferred Annuity Policy (“QDAP”). Taxpayers are allowed to claim a tax deduction for their qualifying deferred annuity premiums up to a maximum limit of HKD60,000 per assessment year. For more information about QDAP, please visit www.ia.org.hk/qdap. This plan is only available for online application.

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

Key features

Depending on your plan options (5/10/15 Years of accumulation period, annual mode or monthly mode), the deferred annuity internal rate of return ("IRR") of your Monthly Guaranteed Annuity Income could be up to 2%.

Accumulation period (Year)
Payment mode IRR
5
Monthly
1.85% 
Annual 2.00%
10
Monthly
1.91% 
Annual
2.00%
15 Monthly
1.73%
Annual
1.80%

eIncomePro is a Qualifying Deferred Annuity Policy. Enjoy up to HKD60,000 total tax deduction[1] per assessment year for the premiums you pay for eIncomePro if you are a taxpayer in Hong Kong. The tax saved each assessment year can be up to HKD10,200 per taxpayer (assuming an applicable tax rate is 17%).

A married couple can jointly claim the tax deductions[1] for the premiums paid for up to HKD120,000 per each tax assessment year, provided that the couple are both taxpayers that have income chargeable to tax, and each deduction claimed by the taxpayer does not exceed the individual limit HKD60,000.

eIncomePro will pay Monthly Guaranteed Annuity Income for 10 years. The annuity income payments of each month are guaranteed.  Get your monthly annuity income from the deferred annuity plan with ease by direct deposit to your designated Hang Seng Bank Savings Account, which gives a regular stream of income to support your future daily expense.

Policy currency is available in HKD and USD. A short premium payment period of 5 years with your preferred payment mode (monthly or annual payment mode) to enjoy annuity period of 10 years. You can also select an accumulation period of 5 years, 10 years or 15 years to fit your financial goal.

There are 4 choices of premium option[2] to suit your financial needs.

  • Annual mode: HKD38,000 / 60,000 / 120,000 / 180,000
  • Annual mode: USD4,760 / 7,500 / 15,000 / 22,500
  • Monthly mode: HKD3,230 / 5,100 / 10,200 / 15,300
  • Monthly mode: USD405 / 638 / 1,275 / 1,913

If the Life Insured passes away while the Deferred Annuity Insurance policy is in force, the Beneficiary(ies) will receive a Death Benefit to help relieve the financial burden. The Beneficiary(ies) will receive the Death Benefit in a lump-sum payment.

If the Life Insured passes away in an accident before the insurance age of 80 while the Deferred Annuity Insurance policy is in force, in addition to the above Death Benefit, the Beneficiary(ies) designated in the Policy will receive an Accidental Death Benefit that equals to 100% of the Total Premiums Paid for the Basic Plan.

As long as you are eligible to apply for eIncomePro Deferred Annuity Plan (100% Guaranteed), regardless of your underwriting history occupation, health and financial status, you will enjoy guaranteed acceptance without any requirement for medical examination.

The above information is intended as a general summary of information for reference only. Please refer to actual policy for the exact terms, conditions and exclusions of the Plan. If you wish to know more, please read the Product Brochure for details.

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

Other points to note
  1. eIncomePro Deferred Annuity Plan (100% Guaranteed) is underwritten by Hang Seng Insurance. HSIC is authorised and regulated by the Insurance Authority of the HKSAR. Hang Seng Bank Limited (“Hang Seng Bank”) is an insurance agent authorised by HSIC and the insurance products are products of HSIC 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 HSIC and you directly.
  2. eIncomePro Deferred Annuity Plan (100% Guaranteed) is firstly launched till 31 Dec 2020 under Phase Two of the Insurance Authority's Temporary Facilitative Measures Related to the COVID-19 Outbreak for non-face-to-face selling and application for designated insurance products.
  3. 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 HSIC outside Hong Kong. Please refer to the actual policy for the exact terms, conditions and exclusions of the Plan.
  4. The actual tax savings amount depends on the personal circumstances, which may be different from the amount illustrated in the above example. If you are in doubt about your own tax status, you should obtain independent professional advice.
Remark(s)
  1. The actual tax savings amount depends on the personal circumstances, which may be different from the amount illustrated in the above example. If you are in doubt about your own tax status, you should obtain independent professional advice.
  2. There will be within 0.5% difference between the actual premium figures and the premium options selection due to rounding up of the system setting.
  3. Calculation based on the assumptions that the highest rate of the progressive tax rates applicable to the taxpayer is 17%, which remains the same throughout the premium payment period and the taxpayer has applied one eIncomePro Deferred Annuity Plan (100% Guaranteed) policy only with no tax deductible MPF voluntary contributions nor other QDAP policies during the 5 years premium payment period.
  4. Calculation based on the assumptions that the highest rate of the progressive tax rates applicable to both taxpayers is 17%, which remains the same throughout the premium payment period and Peter has applied one eIncomePro Deferred Annuity Plan (100% Guaranteed)  policy only and both of taxpayers in this example do not have any tax deductible MPF voluntary contributions account nor other QDAP policies during the 5 years premium payment period.