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    Total Payout Ratio for Participating Products

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    Feature overview

    To provide an overview of the overall historical performance of the participating products of Hang Seng Insurance Company Limited (“Hang Seng Insurance”), reflecting both the guaranteed and non-guaranteed benefits, the following tables show the Total Payout Ratio for each of our participating products which (a) it has issued new policies since 2010, and (b) it still has policies inforce in the reporting year 2024. These results are intended for reference purpose only and should not be taken as an indicator of future guaranteed and non-guaranteed benefits declaration of the participating products. The actual payout ratios in the future may be lower or higher than the historical payout ratios illustrated.

    Since each Total Payout Ratio is calculated as an average measure across all policies of a product series for each policy year, the actual Total Payout Ratio for an individual policy may be different from the Total Payout Ratio shown in this document, individual inforce policyholder is advised to check the inforce re-projection of the policy for the latest view on the future benefits. For further enquiries, please contact any Hang Seng Bank branch or our Customer Service Hotline 2596 6262.

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    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 100% 100% 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched
    USD 100% 100% 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 104% 104% 104% 105% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD 106% 104% 106% 103% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB N/A N/A N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 102% 100% 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD 102% 100% 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB N/A 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale 99% 99% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD Closed to sale Closed to sale Closed to sale 99% 99% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD Closed to sale Closed to sale Closed to sale 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale 98% 98% 98% 97% 96% 95% 95%
    USD Closed to sale Closed to sale Closed to sale Closed to sale 98% 98% 99% 97% 96% 96% 95%
    RMB Closed to sale Closed to sale 100% 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    RMB Closed to sale Closed to sale 100% 100% 100% 100% 100% 100% 100% 100% Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 98% 95% 94% 93% 93%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 98% 95% 94% 93% 92%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 92%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 92%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 92%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 91%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 96%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 96%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD 101% 102% 105% 104% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD N/A N/A N/A N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD 101% 101% 100% 101% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    USD N/A 100% N/A N/A Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD 100% 106% 107% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale 99% 100% 99% 99% 99% 98% 98% Not yet launched
    USD Closed to sale Closed to sale Closed to sale 99% 100% 99% 99% 99% 98% 98% Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale 95% 95% 95% 96% 93% 92% 93% 93%
    USD Closed to sale Closed to sale Closed to sale 95% 95% 95% 96% 94% 91% 93% 93%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale 90% 92% 94% 93% 94% 94% 93%
    USD Closed to sale Closed to sale Closed to sale Closed to sale 91% 92% N/A 93% 92% 93% 92%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 98% 98%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 98% 98%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 85%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 78%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 100% 100%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale N/A 100%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB 100% 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 98% 96% 95% 95% 94%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 98% 96% 95% 95% 94%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale 96% 95% 95% 94%
    USD Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale Closed to sale N/A 95% 94% 93%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    HKD Closed to sale 100% 100% 100% 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched
    USD Closed to sale N/A N/A N/A 100% 100% 100% 100% Not yet launched Not yet launched Not yet launched

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2024

    Currency

    Policy year 1
    (Policy effective in 2023)

    Policy year 2
    (Policy effective in 2022)

    Policy year 3
    (Policy effective in 2021)

    Policy year 4
    (Policy effective in 2020)

    Policy year 5
    (Policy effective in 2019)

    Policy year 6
    (Policy effective in 2018)

    Policy year 7
    (Policy effective in 2017)

    Policy year 8
    (Policy effective in 2016)

    Policy year 9
    (Policy effective in 2015)

    Policy year 10
    (Policy effective in 2014)

    Policy year 10+
    (Policy effective in 2010-2013)
    USD 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched
    RMB 100% Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched Not yet launched

    FAQs

    Common questions

    The Total Payout Ratio is calculated as the ratio of the aggregate actual total benefits against the aggregate illustrated total benefits at the point of sale for all the relevant participating policies at that policy year. The total benefits reflect both the guaranteed and non-guaranteed components which include guaranteed benefits, accumulated endowment coupons and interests (if applicable), accumulated annuities and interests (if applicable), accumulated dividends and interests (if applicable), terminal dividends (if applicable) to be paid upon policy termination etc.

    Illustrative example

    Assume Product Y contains the following 4 HKD policies as of reporting year 2024:

    Policy
    		 Policy year
    		 Policy effective date
    		 Guaranteed benefits (HKD)
    		 Illustrated non-guaranteed benefits (HKD)
    		 Illustrated total benefits (HKD)
    		 Actual non-guaranteed benefits (HKD)
    		 Actual total benefits (HKD)
    1 1 8 Apr 2023
    		 0 144 144 (= 0 + 144)
    		 144 144 (= 0 + 144)
    2 2 26 Apr 2022
    		 374 315 689 (= 374 + 315)
    		 257 631 (= 374 + 257) 
    3 2 20 May 2022
    		 494 416 910 (= 494 + 416)
    		 339 833 (= 494 + 339)
    4 3 2 Aug 2021
    		 2,628 1,633 4,261 (= 2,628 + 1,633)
    		 1,416 4,044 (= 2,628 + 1,416)

    The calculation of Total Payout Ratio for HKD policies for reporting year 2024 are shown below:

    Product
    		 Total Payout Ratios for reporting year 2024
    Policy year 1 (Policies effective in 2023)
    		 Policy year 2 (Policies effective in 2022)
    		 Policy year 3 (Policies effective in 2021)
    Product Y

    144 / 144 = 100%

    (Policy 1)

    (631 + 833) / (689 + 910) = 92%

    (Policies 2 and 3)

    4,044 / 4,261 = 95%

    (Policy 4)

    Note: The figures shown in the above example are for illustrative purpose only.

    Footnote

    Other point(s) to note

    1. Some of the above results are shown as “N/A” because:
      • there are no relevant policies in the respective reporting year; or
      • the guaranteed and non-guaranteed benefits amount illustrated at point of sale is zero and hence Total Payout Ratio is undetermined.
    2. The above life insurance plans are underwritten by Hang Seng Insurance Company Limited which is authorized and regulated by the Hong Kong Insurance Authority to carry on long term insurance business in the Hong Kong SAR. The benefits of the plans are subject to the credit risk of Hang Seng Insurance Company Limited (for details, please refer to “Product risks – Credit risk” on the product brochure). The above insurance plans are insurance plans with saving elements and not any kind of bank deposit. The proceeds received upon policy surrender, whether partial or full, may be less than the total premiums paid.
    3. The ratios are rounded to nearest integer %.