EasyRefund 100% Global Hospital Cash Plan (3-Year)

Please note the relevant product risks. This life insurance plan is underwritten by Hang Seng Insurance Company Limited.
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You need to know

This plan is a life insurance product. It is underwritten by Hang Seng Insurance Company Limited (“HSIC”) and the policy term and premium payment period are 3 years.

Quote details

Personal details

Gender
According to the eligibility, you can choose the Daily Hospital Cash Benefit amount as HKD300, HKD600 or HKD1,000.

Plan options

How much Daily Hospital Cash Coverage do you need?
Extra Hospital Cash Benefit
Death Benefit
100% of the Total Premiums Paid
Accidental Death Benefit
100% of the Total Premiums Paid

Special offer

Declaration

Quote summary

- EasyRefund 100% Global Hospital Cash Plan (3-Year)

Key Coverage
Daily Hospital Cash Benefit
Extra Hospital Cash Benefit
Death Benefit
100% of the Total Premiums Paid
Accidental Death Benefit
100% of the Total Premiums Paid

Plan Summary

Illustration summary

- EasyRefund 100% Global Hospital Cash Plan (3-Year)

3 years premium payment term and benefit term

End of Policy Year

Total Premiums Paid (HKD)

Guaranteed Surrender Value (HKD)

Guaranteed Death Benefit (HKD)

Accidental Death Benefit (HKD)

1

1


(70% of Total
Premiums Paid)


(100% of Total
Premiums Paid)


(100% of Total Premiums Paid)

2

1


(70% of Total
Premiums Paid)


(100% of Total Premiums Paid)


(100% of Total Premiums Paid)

3

1


(103101% of Total
Premiums Paid)


(100% of Total
Premiums Paid)


(100% of Total
Premiums Paid)

Explanation Notes

  1. This section is only a summary illustration of the major benefits of your basic plan excluding any supplementary benefits and assumes that:
    a) All premiums are paid in full when due;
    b) No benefit has been paid; and
    c) No policy change has been made.
    You should refer to your licensed insurance intermediary or the company for more information or, if appropriate, a more detailed summary.
  2. The amount of total premium(s) may differ slightly from the total of the premiums payable in the policy due to rounding differences. Other projected values in this document are also subjected to rounding differences.
  3. Guaranteed Surrender Value in this section refers to premium refund payable to Policyholder if the policy is lapsed, surrendered or terminated, provide that no Death Benefit has been paid or become payable under the Policy and no benefit has been paid or become payable under any Supplementary Benefits.
  4. Guaranteed Death Benefit in this section will be payable to the beneficiary upon Life Insured’s death. The benefit equals 100% of the Total Premiums Paid as of the date of death of the Life Insured.
  5. Insurance Age means, at any date, the age of the Life Insured or Payor / Policyholder (as applicable) on the last birthday prior to (or on the birthday the same day as) the Policy Date or the relevant Policy Anniversary.
  6. When reviewing the values shown in the above illustration in this section, please note that the cost of living in the future is likely to be higher than it is today due to inflation.
  7. The figures as shown above exclude any levy payment and applicable discount.
  8. Please note part of the premiums illustrated above will pay for the insurance and related costs.

Warning

  • You should only apply for this product if you intend to pay the premium for the whole of the premium payment term.
  • Should you terminate this policy early or cease paying premiums early, you may suffer a significant loss.     

The insurance plan and this summary are offered by Hang Seng Insurance Company Limited. This summary is not a policy contract. In case of conflict between the terms of this illustration and the terms of the policy and any applicable rules, the terms of the policy and applicable rules shall apply.

This summary does not contain the full terms of the policy and the full terms can be found in the policy document.

Death Benefit

While the Policy is in force, in the unfortunate event of death of the Life Insured, the beneficiary will receive the Death Benefit equivalent to a refund of 100% of the Total Premiums Paid during Policy Term (excluding any interest received by the Company). After paying the Death Benefit, the policy will be terminated accordingly.

Premium Refund

While the Policy is still in force upon the Benefit Cessation Date of Basic Plan, the Company will according to the table stipulated as below to refund the applicable percentage of Total Premiums Paid during Policy Term (excluding any interest received by the Company) to you or your estate; or while the Policy is lapsed, surrendered or terminated at any time before the Benefit Cessation Date of Basic Plan, and no Death Benefit has been paid or become payable under this Policy, the Company will refund 70% of the Total Premiums Paid during the Policy Term (excluding any interest received by the Company) to you or your estate.

On the Benefit Cessation Date

Applicable percentage of premium refund

If no benefit have been paid or become payable under any Supplementary Benefits

103%101% of Total Premiums Paid

If any benefit have been paid or become payable under any Supplementary Benefits

100% of Total Premiums Paid

Daily Hospital Cash Benefit

While this Supplementary Benefit is still in force, if Hospital Confinement of the Life Insured is due to a Bodily Injury, a Sickness, Disease or Illness and such confinement is certified by a Registered Doctor to be Medically Necessary, a Daily Hospital Cash Benefit will be paid to the Policyholder.

During the whole Policy Term of this Policy, this benefit will be paid up to 300 days for all Hospital Confinements per policy, with limit at 100 days per policy year. The benefit of Daily Hospital Cash Benefit will be terminated automatically upon the payment of 300 days of the Daily Hospital Cash Benefit.

If in the case where the Hospital Confinement occurs in a place other than listed as a Benefit Area[3](e.g. Mainland China[4]), the Daily Hospital Cash Benefit will be limited to 50% of the protection amount and the benefit will only be paid up to 30 days for Hospital Confinement per policy. 

Extra Hospital Cash Benefit

While this Supplementary Benefit is still in force, if Daily Hospital Cash Benefit is eligible to be paid and if the Hospital Confinement of the Life Insured is due to admission to Intensive Care, an Extra Hospital Cash Benefit will be paid to the Policyholder.

During the whole Policy Term of this Policy, this benefit will be paid up to 60 days. This Supplementary Benefit will be terminated automatically i) upon payment of 60 days of the Extra Hospital Cash Benefit, or ii) upon payment of 300 days of the Daily Hospital Cash Benefit, whichever is earlier.

If in the case where the Hospital Confinement occurs in a place other than listed as a Benefit Area[3](e.g. Mainland China[4]), the Extra Hospital Cash Benefit will be limited to 50% of the protection amount and the benefit will only be paid up to 30 days for Hospital Confinement per policy.

Accidental Death Benefit

In the event of the Life Insured's accidental death, an Accidental Death Benefit equivalent to 100% of the Total Premiums Paid under the Basic Plan will be paid (excluding any interest received by the Company). 

This Accidental Death Benefit will be automatically terminated (1) upon payout of this Accidental Death Benefit; or (2) on the date this Policy terminates, expires, lapses, becomes void, is cancelled or is surrendered, whichever is the earliest. Upon the death of the Life Insured, the Policy will terminate.

Key Exclusions of Daily Hospital Cash Benefit and Extra Hospital Cash Benefit

No benefit will be paid if a Bodily Injury, Sickness, Disease or Illness or otherwise incurred directly or indirectly caused by the following:

  1. Congenital Conditions;
  2. Intentional self-inflicted Bodily Injury or attempted suicide, while sane or insane;
  3. Engaging in hazardous sports (including but not limited to mountaineering necessitating the use of ropes or guides, pot-holing, bungee jumping, skydiving, parachuting, parasailing, hang-gliding, ballooning, skin-diving or other underwater pastimes, winter sports, racing of any kind other than on foot, steeple chasing or polo), aviation or aeronautics other than as a fare paying passenger on a duly licensed commercial aircraft;
  4. Participation in all forms of league status football sports or other team sports with an equivalent or greater likelihood of such participation resulting in Bodily Injury;
  5. War or any act of war, declared or undeclared, or active duty in the military, naval or air forces of any country or international authority;
  6. Taking or absorbing, accidentally or otherwise, any alcohol, drug, medicine, sedative or poison, except as prescribed by a Registered Doctor;
  7. Pre-existing Conditions;
  8. Infection from any Human Immunodeficiency Virus (HIV), Acquired Immunodeficiency Syndrome (AIDS) or any AIDS-related condition;
  9. Dental treatment, dentures, eye examinations, glasses, hearing aids or the fitting of any thereof, or cosmetic surgery or plastic surgery, except and to the extent that any of such treatment is necessary for cure or alleviation of Bodily Injury to the Life Insured;
  10. Treatments or tests not consistent with customary medical treatment or diagnosis. Physical examinations, health check-ups or tests not incidental to treatment or diagnosis of a covered Bodily Injury, Sickness, Disease or Illness or any treatments which are not Medically Necessary;
  11. Hospital Confinement for isolation and/or medical surveillance purpose;
  12. Life Insured participated in illegal activity or attempted violation of the law;
  13. Physical or mental infirmity, of any disease; or
  14. Pregnancy, childbirth (including surgical delivery), miscarriage, abortion and prenatal or postnatal care. Conditions arising from surgical, mechanical or chemical methods of birth control or treatment (surgical or otherwise to cause) or the reversal of birth control or treatment pertaining to infertility.

Key Exclusions of Accidental Death Benefit

No benefit will be paid if Accidental Death results directly or indirectly from any of the following:

  1. Intentional self-inflicted Bodily Injury or attempted suicide, while sane or insane;
  2. Engaging in hazardous sports (including but not limited to mountaineering necessitating the use of ropes or guides, pot-holing, bungee jumping, skydiving, parachuting, parasailing, hang-gliding, ballooning, skin-diving or other underwater pastimes, winter sports, racing of any kind other than on foot, steeple chasing or polo), aviation or aeronautics other than as a fare paying passenger on a duly licensed commercial aircraft;
  3. War or any act of war, declared or undeclared, or active duty in the military, naval or air forces of any country or international authority;
  4. Taking or absorbing, accidentally or otherwise, any alcohol, drug, medicine, sedative or poison, except as prescribed by a Registered Doctor;
  5. Inhaling any gas or fumes, accidentally or otherwise, except accidentally in course of duty;
  6. Insanity or mental infirmity or mental disease;
  7. Life Insured participated in illegal activity or attempted violation of the law
  8. Entering, operating, or servicing, riding in or on, ascending or descending from any kind of device designed for flight in or beyond the earth’s atmosphere except while the Life Insured is a passenger or air crew in an aircraft operated by a commercial passenger airline on a regular scheduled passenger trip over its established passenger route.

The above is only the key highlights of the plan. For more details of the plan features, please refer to Product Brochure.

For full Terms and Conditions, please refer to General Provision, Daily Hospital Cash Benefit Provision, Extra Hospital Cash Benefit Provision and Accidental Death Benefit Provision.

Declaration

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Vulnerable Customer assessment

Start your Vulnerable Customer
Assessment
Hang Seng Bank Limited ("the Bank") and Hang Seng Insurance Company Limited ("Hang Seng Insurance") are committed to exercising care and providing additional protection measures to Vulnerable Customers in insurance application. This assessment is provided by Hang Seng Insurance and the Bank as authorized insurance agent of Hang Seng Insurance and is intended to help you understand whether you are a Vulnerable Customer based on your personal circumstances, including your insurance application experience.
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Your answers

Have you completed Secondary 3 or above?
Are your total net liquid assets maintained in the Bank, or other financial institutions and your personal holdings is valued more than or equal to HKD 50,000 or equivalent?
Do you have any regular source of income?
Do you have any experience in applying for life insurance products (not limited to Hang Seng Insurance life insurance)?
(a) Have you applied for any Annuity Insurance Products
over the past 5 years, giving you the relevant insurance experience?
(b) Have you applied for any Non-Investment-Linked Long Term Insurance Products
over the past 5 year, giving you the relevant insurance experience?

Assessment result

Your Vulnerable Customer Assessment status is assessed as:
Your Vulnerable Customer Assessment status is assessed as:
Original VC Status (Annuity Products)
Original VC Status (Non-Investment-Linked Long Term Insurance Products)
Do you agree with the above result?
Reason

Your final Vulnerable Customer Assessment status is assessed as:
Your final Vulnerable Customer Assessment status is assessed as:
Final VC Status (Annuity Products)
Final VC Status (Non-Investment-Linked Long Term Insurance Products)

Declaration

The information you provided below will form the basis for underwriting and assessing any claims in the future.
If you want to make any changes, please get a new quote .
Medical questions
Has any proposal or application for life or accident or health insurance (e.g. major illness insurance, out-patient/inpatient insurance or hospital cash insurance, etc.) on you or reinstatement of such insurance ever been declined/postponed during the past 5 years?
Have you ever had, or been told you had, or been treated for cancer or growth of any organ or any tissue, heart disease, stroke, diabetes, kidney disease, liver disorder, HIV/AIDS?
During the past 5 years, have you ever been continuously hospitalized for 7 days or more, or continuously received the followings at a hospital: any medication, treatment, surgical operation or investigation (other than investigation carried out for employment or emigration purposes) for a period of 14 days or more? And (ii) are you currently suffering from any symptom you will seek medical advice or receiving treatment for any medical condition requiring ongoing follow-up in the next 6 months as advised by medical practitioner?
Does your current job nature involve working at heights (over 7.5 meters), working underground, handling explosives, scuba diving, armed with weapons , working with or maintaining high voltage power lines and cables?
Please enter all the below details in English:
Tax residence
I declare that my current tax residence for tax purpose is/are as below:
Last name should be the same as the one printed on your HKID card
First name should be the same as the one printed on your HKID card
If the account holder is a tax resident of Hong Kong, the TIN is the Hong Kong Identity Card number. e.g. A123456(1)
Contact details
Please make sure your email address is correct
Current Hong Kong residential address
Hong Kong mailing address
Beneficiary
Your beneficiary will receive the death benefits in the form of a lump-sum payment. You may add, remove or change your beneficiaries after your policy has been issued.
Add beneficiary
Important notes: Please note that additional document(s) is/are required for processing your application as verification is necessary for the nomination of your beneficiary relationship(s), you will receive a follow up letter regarding the required additional document(s). Please call our Hotline at (852) 2998 8038 if you have any questions.
Please enter your Hang Seng payment account details below. Premiums and levy payment will be deducted from your designated account on the payment due dates. Please make sure there are sufficient funds in the account to avoid the extra service charges due to insufficient fund for premium payment.
After the application has been successfully approved, Initial Premiums and levy payment (as shown in quote summary) will be deducted within 7-10 working days from the date of application approval.
The guaranteed return upon maturity will be deposited into the payment account by default unless we receive your change request in the future.
Payment details
Payment account
You have the right to cancel your policy within the cooling-off period of 21 days
You can still review and edit your information provided before submitting your final application.

Notice

Things to note

Please check if the following details are accurate, and click “Confirm” to proceed.

Thank you for applying EasyRefund 100% Global Hospital Cash Plan (3-Year) online. Your application will be processed and approved after we have verified the information you submitted.

Online insurance application experience

  1. Application received

    You will receive an acknowledgement email with reference number (to the email address you provided during application)

  2. Review in progress

    Your applied insurance plan(s) is still under the application review process and has not been effective yet

  3. Get application notification

    You will receive the application notification by an SMS message within 7-10 working days under normal circumstances

  4. Policy effective

    For approved application, policy effective date will be dated back to online application submission date

  • yuu Points will be credited to the yuu Account by DFI as stated in this application after the cooling-off period of this policy (while it remains inforce). If you have any question relating to yuu Points or the yuu Rewards Club, please check out FAQ in the yuu App or email contactus@yuurewardsclub.com.hk
  • Once the policy has been successfully processed, you can view the policy details and policy pack by logging on Hang Seng Bank Personal e-Banking (Desktop) > “Insurance” > “My Insurance”. If you haven't registered for Hang Seng Bank Personal e-Banking, a paper version of the policy pack will also be prepared for you.
  • If you’ve changed your email address or mobile phone number recently, please update your personal particulars by logging on Hang Seng Bank Personal e-Banking (Desktop) > “Customer Service” > “Account Maintenance” > “Personal Particular” as soon as possible to ensure you don’t miss out on important communications.

Insurance plan

Plan name
- EasyRefund 100% Global Hospital Cash Plan (3-Year)
Payment mode
Special offer
Premium and levy
( + Initial Levy)
Daily Hospital Cash Benefit
Extra Hospital Cash Benefit
Death Benefit
100% of the Total Premiums Paid
Accidental Death Benefit
100% of the Total Premiums Paid

Vulnerable Customer assessment

Medical information
Edit Save

Your answers

Has any proposal or application for life or accident or health insurance (e.g. major illness insurance, out-patient/inpatient insurance or hospital cash insurance, etc.) on you or reinstatement of such insurance ever been declined/postponed during the past 5 years?
Have you ever had, or been told you had, or been treated for cancer or growth of any organ or any tissue, heart disease, stroke, diabetes, kidney disease, liver disorder, HIV/AIDS?
During the past 5 years, have you ever been continuously hospitalized for 7 days or more, or continuously received the followings at a hospital: any medication, treatment, surgical operation or investigation (other than investigation carried out for employment or emigration purposes) for a period of 14 days or more? And (ii) are you currently suffering from any symptom you will seek medical advice or receiving treatment for any medical condition requiring ongoing follow-up in the next 6 months as advised by medical practitioner?
Does your current job nature involve working at heights (over 7.5 meters), working underground, handling explosives, scuba diving, armed with weapons , working with or maintaining high voltage power lines and cables?
Personal information
Edit Save

Tax residence

I declare that my current tax residence for tax purpose is/are as below:
Last name
First name
Taxpayer Identification Number (TIN)
Date of birth
Place of Birth
Gender
Are you a non-income earner?

Contact details

Email address
Current Hong Kong residential address
Postal code / ZIP code
Hong Kong mailing address
Postal code / ZIP code

Beneficiary

Type of beneficiary
Payment Information
Edit Save

Payment details

Account holder (must be policy applicant)
Payment account
Hang Seng Savings Account Number
Hang Seng Credit Card Account Number
Expiry date

Understanding this product

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Sat: 9 a.m. - 1 p.m.

Closed on Sundays and public holidays

Remark(s)

  1. This is a rate of premium refund upon maturity of annual payment mode with no benefits have been paid or become payable under any Supplementary Benefits conditions apply.
  2. Cover the Hospital Confinement due to a Sickness, Disease or Illness occurring at least 30 days after the policy effective date where such confinement is certified by a Registered Doctor to be Medically Necessary.
  3. Benefit Areas refer to Hong Kong SAR, Macau SAR, Taiwan, Singapore, Malaysia, Thailand, Japan, South Korea, Canada, United States of America, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, Australia, New Zealand.
  4. If the Hospital Confinement occurs in mainland China (excluding the Hong Kong SAR, the Macau SAR and Taiwan), we will only pay Daily Hospital Cash Benefit and/ or Extra Hospital Cash Benefit under this Policy if the medical services are provided in the hospitals that are formally assessed and rated by the National Health Commission of the People's Republic of China or local governments’ health commissions of the People's Republic of China as a “Class III Grade A” hospital or above. 

Objective of the application

EasyRefund 100% Global Hospital Cash Plan (3-Year) is a non-participating refundable hospital cash and life insurance plan that provides hospital cash coverage.

 

Type and nature of the product

This is a refundable hospital cash life insurance plan and neither a bank deposit plan nor a bank savings plan. It is underwritten by Hang Seng Insurance Company Limited.

 

Payment period & benefit period

This refundable hospital cash life insurance plan will cover you for 3 years and your contribution, which you selected at previous stage, will be for the 3 years (or 36 months). Please note, you should only apply for this hospital cash life insurance plan if you intend to make the required payments for the entire premium payment term.

Daily Hospital Cash Benefit and Extra Hospital Cash Benefit are subject to waiting period. Hospital confinement due to sickness, disease or illness occurring at least 30 days after the policy effective date will be covered.

 

Affordability and liquidity risk

With your income and/or liquid assets, you can afford the premium payments and applicable levies required for this life insurance product throughout the policy term. You will receive a value that equals to the Premium Refund at maturity at the end of the policy term. You are expected to keep your policy for the entire policy term. However, if you decide to surrender before the end of the policy term, or you do not keep up your required payments, there is a risk that you will receive an amount which may be less than the premium you have already paid.

 

If the above does not align with your expectation, this product may not be suitable for your insurance needs and you should explore our other life insurance plans.

 

Remark(s)

  1. Percentage of premium refund will be subject to the premium payment mode and claim record upon Policy Maturity:
    (i) If no benefit have been paid or become payable under any Supplementary Benefits, and premium is paid with annual payment mode, policyholder can enjoy 103% of the Total Premiums Paid as the rate of premium refund; if the premium is paid with monthly payment mode, policyholder can enjoy 101% of the Total Premiums Paid as the rate of premium refund;
    (ii) If any benefit have been paid or become payable under any Supplementary Benefits, policyholder can enjoy 100% of the Total Premiums Paid as the rate of premium refund regardless the premium is paid in annual payment or monthly payment mode.
  2. Cover the Hospital Confinement due to a Sickness, Disease or Illness occurring at least 30 days after the policy effective date where such confinement is certified by a Registered Doctor to be Medically Necessary.
  3. Benefit Areas refer to Hong Kong SAR, Macau SAR, Taiwan, Singapore, Malaysia, Thailand, Japan, South Korea, Canada, United States of America, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, Australia, New Zealand.
  4. If the Hospital Confinement occurs in mainland China (excluding the Hong Kong SAR, the Macau SAR and Taiwan), we will only pay Daily Hospital Cash Benefit and/or Extra Hospital Cash Benefit under this Policy if the medical services are provided in the hospitals that are formally assessed and rated by the National Health Commission of the People's Republic of China or local governments’ health commissions of the People's Republic of China as a “Class III Grade A” hospital or above. 
  1. agree with the above Vulnerable Customer Assessment result and confirm that the above information provided by me is complete, accurate, and up-to-date.
  2. I understand that the assessment conducted through the online platform has not assessed all of my latest status of my personal circumstances percir in determining whether I may be a Vulnerable Customer or not.
  3. I authorize the Bank and Hang Seng Insurance to provide the details of this assessment, any related record or information to meet the obligations or requirements in connection with any law, regulation or requests given or issued by other form, within or outside the Hong Kong Special Administrative Region existing currently or in the future.
  4. I understand that Hang Seng Insurance reserves the right to cease my Vulnerable Customer Assessment result at any time without prior notice. The decision of Hang Seng Insurance on all matters relating to the assessment shall be final and binding on all parties concerned.
  1. disagree with the initial Vulnerable Customer Assessment result and would like to change the result as above selection. I confirm that the above information provided by me is complete, accurate, and up-to-date.
  2. I understand that the assessment conducted through the online platform has not assessed all of my latest status of my personal circumstances percir in determining whether I may be a Vulnerable Customer or not.
  3. I authorize the Bank and Hang Seng Insurance to provide the details of this assessment, any related record or information to meet the obligations or requirements in connection with any law, regulation or requests given or issued by other form, within or outside the Hong Kong Special Administrative Region existing currently or in the future.
  4. I understand that Hang Seng Insurance reserves the right to cease my Vulnerable Customer Assessment result at any time without prior notice. The decision of Hang Seng Insurance on all matters relating to the assessment shall be final and binding on all parties concerned.

Remark(s)

  1. Cover the Hospital Confinement due to a Sickness, Disease or Illness occurring at least 30 days after the policy effective date where such confinement is certified by a Registered Doctor to be Medically Necessary.
  2. Benefit Areas refer to Hong Kong SAR, Macau SAR, Taiwan, Singapore, Malaysia, Thailand, Japan, South Korea, Canada, United States of America, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, Australia, New Zealand.
  3. If the Hospital Confinement occurs in mainland China (excluding the Hong Kong SAR, the Macau SAR and Taiwan), we will only pay Daily Hospital Cash Benefit and/or Extra Hospital Cash Benefit under this Policy if the medical services are provided in the hospitals that are formally assessed and rated by the National Health Commission of the People's Republic of China or local governments’ health commissions of the People's Republic of China as a “Class III Grade A” hospital or above.
  4. Your selection of "Own estate" confirms that the death claim amount will be paid out in accordance with inheritance law of Hong Kong.
  5. Not applicable to non-Hong Kong Dollar Credit Cards and Private Label Cards.

Important Information

  • Your existing and past insurance records with Hang Seng Insurance including but not limited to personal data and medical claims (if applicable) will also be regarded as the basis for processing the underwriting decision.
  • Any assessment on the customer’s Vulnerable Customer status will be based on the information the customer provides to the Bank and Hang Seng Insurance. Failure of the customer to provide complete, accurate and up-to-date information will affect the Bank and Hang Seng Insurance’s assessment of the customer’s Vulnerable Customer status and any services that may be provided.
  • The Vulnerable Customer Assessment in online platform is unable to consider all of the customer’s relevant personal circumstances when assessing whether the customer may be a Vulnerable Customer.
  • It is suggested that you print and save the Vulnerable Customer Assessment record for your future reference.
  • Personal information collected in this assessment will be kept confidential by the Bank and Hang Seng Insurance. The information may be used by the Bank and Hang Seng Insurance under a duty of confidentiality of Hang Seng Insurance, for providing, maintaining and administering insurance policy or other financial products and services or meeting the obligations, requirements in connection with any law, regulation or request given or issued by other authorities, within or outside the Hong Kong Special Administrative Region existing currently or in the future. Hang Seng Insurance’s Notice to Customer and Other Individuals relating to the Personal Data (Privacy) Ordinance are available at the Bank’s website.

General Terms:

  • I, as Applicant and payment Account Holder, confirm that I am not acting on behalf of any other person.
  • I authorise Hang Seng Bank Limited ("Hang Seng Bank") to debit from my specified account for initial and subsequent premiums due as instructed by Hang Seng Insurance Company Limited ("Hang Seng Insurance") and/or any applicable levies on behalf of the Insurance Authority (“IA”) from time to time.
  • I understand that the application confirmation does not contain the full terms of the policy and the full terms can be found in the policy document.
  • I acknowledge and understand that this application is submitted by me with no advice has been given by Hang Seng Bank on this application.
  • I confirm that I agree the policy pack will be provided in non-paper based format.

Customer Information:

  • All the statements and answers in this application are to the best of my knowledge and belief, true and complete and that the application will form the basis and become part of any policy issued by Hang Seng Insurance. I acknowledge if any of the statements and answers given in the application are inaccurate or any material facts* have not been disclosed or verification of my identity cannot be completed within a reasonable time as determined by Hang Seng Insurance (during which Hang Seng Insurance will have the sole discretion to suspend or defer any transactions under the policy), Hang Seng Insurance will be entitled to cancel, terminate or suspend the policy or where Hang Seng Insurance considers it appropriate, to re-issue the policy with modifications even after the policy has been issued.
    * Note: If you are in doubt as to whether or not particular information or facts are material, they should be disclosed.
  • I am in Hong Kong at the time of making this online application.
  • I confirm I am not a United States citizen, a United States resident for federal income tax purpose or a United States Green Card holder.
  • I have prior experience in using online platform(s) such as internet banking or online shopping platforms, and I am capable of making this application using this online platform.
  • I am mentally fit at the time of this online application.
  • All statements and information I have provided in this application are complete, true and up-to-date. I will immediately inform Hang Seng Insurance and correct them if they have become incomplete, untrue or inaccurate subsequently before any policy is issued.
  • I understand that Hang Seng Insurance will approve or decline any future claims based on the declaration and information I have provided during the online application.

Personal Information Collection:

  • All personal information that I have most recently provided to Hang Seng Bank such as ID documents, nationality, mobile number and payment account correspondence address is accurate and up to date and I consent to Hang Seng Bank providing my personal information to Hang Seng Insurance or any member of the HSBC Group (“HSBC Group” means HSBC Holdings plc, its affiliates, subsidiaries, associated entities and any of their branches and offices (together or individually) and “member of the HSBC Group” has the same meaning) and any agents, contractors, sub-contractors, service providers for the purpose of evaluating and processing this application. I understand that updated personal information such as ID documentation may be requested by Hang Seng Insurance if necessary, and the policy may not be issued if any such requested information or documents are not provided within a specified time.
  • I understand that any updated personal information I have provided to Hang Seng Insurance in the application will not automatically be updated in Hang Seng Bank’s records and therefore I must make a separate request to change my information if required.
  • I understand that my personal information supplied in this application will be used in accordance with Personal Information Collection Statement of Hang Seng Insurance (“PICS”) and that any request to change my personal information in Hang Seng Insurance's records must be made through branches of Hang Seng Bank or as specified under Clause 5 of the PICS.

Suitability and Affordability Declaration:

  • I understand I am applying for a life insurance plan with savings elements and it is designed to fulfill my insurance need to save up for the future.
  • I understand the policy term is 3 years and I will need to make premium contributions to the policy and applicable levy payments for 3 years / 36 months (depending on the payment mode).
  • With my income and /or liquid assets, I declare that I can afford the premium payments and applicable levies required for the life insurance policy during the policy term.

Application Approval Conditions:

  • I understand submitting this application does not guarantee its approval, and Hang Seng Insurance will only approve the policy after (i) Hang Seng Insurance is satisfied I have met Hang Seng Insurance’s prevailing eligibility and underwriting requirements and (ii) Hang Seng Insurance has proceeded my first premium payment and applicable levy(ise).
  • I acknowledge that if Hang Seng Insurance does approve my application, the policy will be made effective from the date my valid application was submitted.

Risk from the delay or missing the payment of premium due:

  • I understand that I should pay the premium for the entire premium payment term when due. Any delay or missing of the payment of premium due may lead to policy lapse, and the amount (if any) I get back may be significantly less than my premium paid.

Risk from surrender:

  • I understand that if I surrender the policy after the expiry of the cooling-off period, the surrender proceed to be received may be significantly less than the Total Premiums Paid.
  • Please refer to the Illustration Summary of this Plan for the surrender values. All details regarding policy surrender should be referred to the relevant policy provision.

Inflation risk:

  • I understand that cost of living is likely to be higher in the future than it is today due to inflation, therefore you may receive less from the policy in real term in the future even if "Hang Seng Insurance" meets all of its contractual obligations.

Credit risk:

  • I understand that the benefits of this Plan are subject to the credit risk of Hang Seng Insurance. Policy benefits include Death Benefit, surrender benefit and maturity benefit (if applicable), etc. The premium that I pay will become parts of Hang Seng Insurance’s assets, and the life insurance plans of Hang Seng Insurance involve policy benefits such as Death Benefit, surrender benefit and maturity benefit payable to the Policyholders or Beneficiaries by Hang Seng Insurance. I should bear the credit risk associated with Hang Seng Insurance [i.e. the risk that Hang Seng Insurance may not be able to deliver its obligations bound by the policies (including the payment of policy benefits) due to financial difficulties].

Cancellation Rights and Refund of Premium(s) within Cooling-off Period:

  • I, the Policyholder, understand that I have the right to cancel the policy and obtain a refund of any premium(s) paid (less any market value adjustment for investment-linked or non-linked single payment/ single premium policy) by returning the policy surrender form to Hang Seng Insurance Company Limited. I understand that to exercise this right, the policy surrender form must be signed by me and returned by mail to Hang Seng Insurance Company Limited at 18/F, Tower 1, HSBC Centre, 1 Sham Mong Road, Kowloon, Hong Kong or returned to any Hang Seng Bank branches (except MTR station outlets) ^ within the Cooling-off Period. I understand that the Cooling-off Period is the period of 21 calendar days* immediately following either the day of delivery of the policy or the Cooling-off Notice to me/ my nominated representative (whichever is earlier). I understand that the Cooling-off Notice is a notice that will be sent to me or my nominated representative to notify me of the Cooling-off Period around the time the policy is delivered.
    Note:
    ^Only applicable to personal customer.
    *If the last day of the period does not fall on a working day, the period will include the next working day.

Levy imposed by Insurance Authority:

  • I understand that the Insurance Authority (“IA”) will impose a prescribed levy on this insurance policy pursuant to section 134 of the Insurance Ordinance (Cap. 41). Such levy payment should be made together with the premium payment to Hang Seng Insurance for direct remittance to the IA within the remittance period as specified by the IA. Subject to the applicable levy cap, the amount of levy payable for each premium payment is the amount of premium multiplied by the applicable levy rate as prescribed by IA. All subsequent premiums to be paid will also be subject to the applicable levy rate and cap. I understand that it is the statutory duty of the policyholder to pay the prescribed levy to IA through Hang Seng Insurance. IA may impose on the policyholder concerned a pecuniary penalty not exceeding HKD5,000 for non-payment of levy.

Common Reporting Standards:

  • I understand that the information supplied by me is covered by the full provisions of the terms and conditions governing the Account Holder’s relationship with Hang Seng Bank setting out how Hang Seng Bank may use and share the information supplied by me.
  • I acknowledge and agree that the information contained in the Tax Residence section is collected and may be kept by Hang Seng Bank for the purpose of automatic exchange of financial account information provided under the Inland Revenue Ordinance (Cap.112).
  • I also agree that the information contained in the Tax Residence section may be shared to and used by any member of the Hang Seng Group (including any affiliates, subsidiaries and associated entities of Hang Seng Bank and their branches and offices) for the purposes of automatic exchange of financial account information provided under the Inland Revenue Ordinance as set out above.
  • I certify that I am the Account Holder of all the account(s) to which the Tax Residence section relates.
  • I declare that the information given and all statements made in the Tax Residence section and declarations are, to the best of my knowledge and belief, true, correct and complete.
  • I undertake to advise Hang Seng Bank within 30 days of any change in circumstances which affects the Tax Residence status or causes the information contained herein to become incorrect, and to provide Hang Seng Bank with a suitably updated self-certification and Declaration within 90 days of such change in circumstances.

I have read and understood the Cooling-off Rights, Common Reporting Standards, benefit illustration document, the General Provision, Daily Hospital Cash Benefit Provision, Extra Hospital Cash Benefit Provision and Accidental Death Benefit Provision, the Hang Seng Bank Limited and its subsidiaries Privacy Principles and the Personal Information Collection Statement of Hang Seng Insurance and agree to be bound by the same.

 

Remark(s)

  1. Cover the Hospital Confinement due to a Sickness, Disease or Illness occurring at least 30 days after the policy effective date where such confinement is certified by a Registered Doctor to be Medically Necessary.
  2. Benefit Areas refer to Hong Kong SAR, Macau SAR, Taiwan, Singapore, Malaysia, Thailand, Japan, South Korea, Canada, United States of America, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, Australia, New Zealand.
  3. If the Hospital Confinement occurs in mainland China (excluding the Hong Kong SAR, the Macau SAR and Taiwan), we will only pay Daily Hospital Cash Benefit and/or Extra Hospital Cash Benefit under this Policy if the medical services are provided in the hospitals that are formally assessed and rated by the National Health Commission of the People's Republic of China or local governments’ health commissions of the People's Republic of China as a “Class III Grade A” hospital or above.
  4. Your selection of "Own estate" confirms that the death claim amount will be paid out in accordance with inheritance law of Hong Kong.
  5. Not applicable to non-Hong Kong Dollar Credit Cards and Private Label Cards.

Remark(s)

  1. Cover the Hospital Confinement due to a Sickness, Disease or Illness occurring at least 30 days after the policy effective date where such confinement is certified by a Registered Doctor to be Medically Necessary.
  2. Benefit Areas refer to Hong Kong SAR, Macau SAR, Taiwan, Singapore, Malaysia, Thailand, Japan, South Korea, Canada, United States of America, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, Australia, New Zealand.
  3. If the Hospital Confinement occurs in mainland China (excluding the Hong Kong SAR, the Macau SAR and Taiwan), we will only pay Daily Hospital Cash Benefit and/or Extra Hospital Cash Benefit under this Policy if the medical services are provided in the hospitals that are formally assessed and rated by the National Health Commission of the People's Republic of China or local governments’ health commissions of the People's Republic of China as a “Class III Grade A” hospital or above.
  1. Terms and Conditions apply. Please note the relevant product risk. To borrow or not to borrow? Borrow only if you can repay!