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    CouponPower Guaranteed Life Insurance Plan

    Please note relevant credit risks, product risks and early surrender loss. The above life insurance plan is underwritten by HSIC.

    Plan overview

    CouponPower Guaranteed Life Insurance Plan (Cantonese version)

    CouponPower Guaranteed Life Insurance Plan ("CouponPower" or "the Plan") provides a stable stream of monthly guaranteed income along with life protection and coverage for 2 common cancer types, helping you and your family maintain a desired quality of life while also supporting your financial goals.

    Quote and apply

    Key features

    Lock in annualised guaranteed rate of return for 10 years regardless of market volatility. Starting from the 2nd Monthiversary of the policy term, you 'll start receiving a monthly cash payout until policy maturity (i.e. 10th Policy Anniversary), ensuring a steady income stream to meet your financial needs. You can receive a guaranteed cash value equal to 100% of total premiums paid at policy maturity regardless of payment of monthly guaranteed payout.

    Enjoy annualised guaranteed rate of return up to 4.14%* to help you achieve your saving goal.

    *This annualised guaranteed rate of return is subject to payment mode, policy currency and premium discount.

    At the end of the 3rd policy year, the sum of monthly guaranteed income you've received and the guaranteed cash value will exceed your total premiums paid.

    If the life insured is diagnosed with breast or lung cancer / carcinoma-in-situ by a registered doctor, HSIC will pay the Designated Cancer Benefit in a lump sum, providing immediate financial support for handling necessary medical expenses.

    If the life insured passes away in an accident before the 2nd Policy Anniversary, the beneficiary will also receive an Accidental Death Benefit in addition to the Death Benefit.

    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.

    Illustrations and information

    Payment mode comparison

    The following comparison demonstrate the difference between aggregate premium[4] and annual premium[5]:

    (please note that the aggregate premium[4] paid and the total premiums paid illustrated in this table refer to the amount before premium discount)

    Aggregate premium[4] Annual premium[5]
    Annual premium amount
    HKD200,000 HKD200,000
    Annualised guaranteed rate of return
    3.64% 3.56%
    Guaranteed interest rate on prepaid premium
    5.0% NA
    Guaranteed breakeven period
    3 years 3 years
    Aggregate premium[4] paid (before discount) Total premiums paid (before discount)
    HKD390,476.2 (to enjoy guaranteed interest rate of 5.0% p.a. on prepaid premium for 2nd policy year) HKD400,000
    Total amount of monthly guaranteed income
    HKD133,015.2 HKD133,015.2
    Guaranteed cash value upon maturity
    HKD400,000 HKD400,000
    Total guaranteed return upon maturity
    HKD533,015.2 (137% of the aggregate premium[4] paid) HKD533,015.2 (133% of the total annual premium paid)

    Dealing with unexpected life event

    Mrs Wong, 40 years old, has an 8 years old son who is currently studying in primary school. She wants to prepare the future education fund for her son and mitigates her family's financial stress from unexpected life events.

    Mrs Wong's Policy

    Payment mode

    Aggregate premium[4]

    Aggregate premium[4] amount (before discount)

    HKD390,476.2 (including the prepaid premium which will enjoy a guaranteed interest rate of 5.0% p.a.)

    1. 1st Policy Year

      Aggregate premium[4] paid (before discount)

      HKD390,476.2

      Total monthly guaranteed income received

      HKD7,001

      Total monthly guaranteed income: Sum of monthly guaranteed income received. Available from the 2nd Monthiversary of policy term until policy maturity (i.e. 10th Policy Anniversary).

    2. 2nd to 8th Policy Year

      Total monthly guaranteed income received

      HKD98,011

      Monthly guaranteed income on 2nd-8th policy year: HKD 1166.8 / month

    Mrs Wong is unfortunately diagnosed with lung cancer by a Registered Doctor in the first month of the 9th policy year. Apart from the Total Monthly Guaranteed Income she has received up to the end of the 8th Policy Year, she will receive a lump-sum amount of the Designated Cancer Benefit.

    1. Policy year 9

      Lump-sum payout of Designated Cancer Benefit

      HKD412,000

      Equal to the higher of 103% of Total premiums paid for the basic plan or 100% of guaranteed cash value

    Upon the payment of the Designated Cancer Benefit, the Policy is terminated automatically.

    Lock in guaranteed return for a carefree retirement life

    Mr Chan, 65 years old, has already retired and received all payouts from his annuity plan. He wants to continue receiving passive income during his retirement life, and therefore chooses "CouponPower".

    Mr Chan's Policy

    Payment mode

    Annual Payment

    Annual Premium[5]

    HKD200,000

    Total premium amount (before discount)

    HKD400,000

    1. 1st Policy Year

      Total premiums paid (before discount)

      HKD200,000

      Total monthly guaranteed income received

      HKD7,001

      Total monthly guaranteed income: Sum of monthly guaranteed income received. Available from the 2nd Monthiversary of policy term until policy maturity (i.e. 10th Policy Anniversary).

    2. 2nd-10th Policy Year

      Total Premiums paid (before discount)

      HKD400,000

      Total monthly guaranteed income received

      HKD126,014

    3. Policy Maturity

      The sum of total amount of monthly guaranteed income and guaranteed cash value

      HKD533,015.2

    Mr Chan can enjoy an annualised rate of return of 3.56% and a guaranteed breakeven period as short as 3 years. He makes use of this retirement saving created from this income to enjoy travelling with his family.

    Eligibility

    • CouponPower Guaranteed Life Insurance Plan is only available to tax residents of Hong Kong aged between 18 - 70, the applicant also needs to hold a valid HKID Card and Hang Seng bank account
    • Premium payment should be debited from customer’s Hang Seng Bank account

    FAQs

    Common questions

    You can pre-pay all required premiums with aggregate premium[4] payment method. The required annual premium will be deducted from the aggregate premium[4] balance on the relevant premium due dates. The remaining aggregate premium balance, after deducting the annual premium[4] on the due dates, will accumulate at a guaranteed interest rate of 5.0% p.a.

    If there is a case of death, partial surrender, or full surrender, the aggregate premium[4] balance and accumulated interest (if any) will be payable in addition to the Death Benefit or the surrender value, as applicable. Otherwise, no withdrawals from the balance of aggregate premium and the interest accumulated (if any) are allowed once you have paid the premium.

    CouponPower will provide a Monthly Guaranteed Income on any Monthiversary starting from the 2nd Monthiversary of the policy term until policy maturity (i.e. 10th Policy Anniversary).

    For the Settlement Currency for receiving Monthly Guaranteed Income, you can only choose HKD for a HKD policy of CouponPower. For USD policy of CouponPower, you may choose HKD or USD as the Settlement Currency for receiving Monthly Guaranteed Income.

    As long as you're eligible to apply for CouponPower, regardless of your underwriting history, occupation, health and financial status, you'll enjoy guaranteed acceptance without any requirement for medical examination. Please refer to point (iv) in the "Other point(s) to note" for details.

    If the Life Insured, whose Insurance Age upon application is between Age 18 and 70, is diagnosed from the 2nd Policy Anniversary of the policy term or 2 years from the last reinstatement date (whichever is later) by a Registered Doctor with Cancer or Carcinoma-in-situ of Breast or Lung, HSIC will pay the Designated Cancer Benefit in a lump sum to provide immediate financial support for the Policyholder and his/her family to cope with the related medical expenses. The benefit amount will be equal to the higher of 103% of the Total Premiums Paid of the Basic Plan or 100% of the Guaranteed Cash Value, plus the balance of the aggregate premium[4] with interest accumulated (if any), less Indebtedness (if any). Upon payment of the Designated Cancer Benefit, the Policy will automatically terminate. In no event shall HSIC pay both the Death Benefit and Designated Cancer Benefit at the same time under the Policy. Please refer to the policy provisions for details.

    If the Life Insured passes away in an accident before the 2nd Policy Anniversary of the policy term after policy inception, in addition to the Death Benefit, the Beneficiary(ies) designated in the Policy will receive an Accidental Death Benefit equal to 10% of the Total Premiums Paid of the Basic Plan up to the date of death of the Life Insured, less Indebtedness (if any). Upon receipt of the Accidental Death Benefit by the Beneficiary(ies), this Policy will be terminated accordingly.

    For HKD policy, you can only pay in HKD. For USD policy, you can choose to pay the premium in HKD or USD.

    If premiums are paid in USD, we only accept payments from a Hang Seng Bank USD account. If you choose to pay the premium of a USD policy in HKD, we will convert the relevant amount into USD when processing the premium payment, based on the market prevailing exchange rate determined by us.

    Please note that this exchange rate is subject to market fluctuations and will directly affect the amount of the premium payment in HKD.

    CouponPower Guaranteed Life Insurance Plan can only be applied via online platform.

    You may be interested in

    Link

    Open an integrated account

    Mobile Account Opening / Upgrade

    • Open or upgrade a bank account anytime, anywhere via Hang Seng Mobile App[6]
    View details
    Terms and Conditions apply.

    Make a claim

    Claim procedures

    Find details on how to submit your claim and more.

    View details

    Download form

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

    Download form

    Useful Information

    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

    Email us

    Leave us a message

    Footnote

    Other point(s) to note

    1. CouponPower Guaranteed Life Insurance Plan is underwritten by Hang Seng Insurance Company Limited (“HSIC”). HSIC is authorised and regulated by the Insurance Authority of the HKSAR. Hang Seng Bank Limited (“Bank”) is an insurance agent authorised by HSIC and the insurance products are products of HSIC but not the 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 the Bank and you out of the selling process or processing of the related insurance product transaction, the 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. 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. The Bank and HSIC will not solicit or sell any insurance product outside Hong Kong. Please refer to the actual policy for the exact terms, conditions and exclusions of the Plan.
    3. CouponPower Guaranteed Life Insurance Plan is limited offer only. HSIC reserves the right to stop online applications of the Plan without prior notice. HSIC 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 – CouponPower Guaranteed Life Insurance Plan.
    4. When you apply for CouponPower Guaranteed Life Insurance Plan, guaranteed acceptance is subject to the maximum total premium amount up to HKD 780,000 / USD 97,500 (per Life Insured), which is determined by HSIC from time to time.
    5. CouponPower Guaranteed Life Insurance Plan offers limited daily quota. New quota will be released at 12:00 noon every day. HSIC reserves the right to accept or decline any applications subject to the plan's availability.
    6. The above product information is for reference only, and does not cover all life insurance products. It does not constitute and shall not be construed as an offer to sell, solicitation of an offer or recommendation of any products or services. You should explore insurance products based on their insurance needs and affordability and should not make any decisions based on the above information alone.
    7. Unless otherwise provided, all capitalised terms have the same meanings as those of the terms in the policy documents.

    Remark(s)

    1. CouponPower will provide a Monthly Guaranteed Income on any Monthiversary starting from the 2nd Monthiversary of the policy term until policy maturity (i.e. 10th Policy Anniversary).
    2. The examples assume that all premiums have been paid under the policy; no partial surrender has been made; no policy changes have been made; and that there is no Indebtedness under the policy.
    3. The information is intended as a general summary of endowment life insurance of Hang Seng Insurance for reference only. It shall not be construed as an offer to sell or solicitation of an offer or recommendation of any products. Customer should explore life insurance based on their insurance needs and affordability, and no advice has been given by Hang Seng Bank.
    4. Aggregate premium allows you to pre-pay all the required premiums. For an aggregate premium policy, the required annual premium will be deducted from the balance of aggregate premium on the relevant premium due dates. The balance of aggregate premium, after deducting the annual premium on the relevant premium due dates will be accumulated with a guaranteed interest rate of 5.0% p.a. Except in the event of death or partial surrender or surrender, no withdrawal from the balance of aggregate premium and the interest accumulated (if any) is allowed once paid. In the event of death or partial surrender or surrender, the balance of aggregate premium and interest accumulated (if any) will be payable on top of the Death Benefit or the surrender value (as the case may be).
    5. Due to the adjustment of the decimal places, the above premiums may differ from the actual amount of the premium payable by less than HKD 1.00.
    6. This service is not available to customers who:
      • only hold joint-named integrated accounts
      • already hold a sole-named Prestige Banking account
      Such customers can make an appointment online to open or upgrade account in any of our branches.

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

    Quote and apply