Please refer to relevant product page of the respective insurance plan for the Appointed Licensed Insurance Agency. Please refer to the policy documents for full terms and conditions of Eligible Life Insurance Plan, and the product leaflets of Hong Kong Life's life insurance plans for product information. Before applying for any life insurance plan, clients should carefully read and understand the contents and terms of the policy documents. Clients should also seek independent and professional advice before making any decision.

Terms and Conditions of Deferred Annuity - Client Promotion Incentive (the "Incentive"):

1. The Promotion Period of the Incentive is from 2 April to 30 November 2024 (both dates inclusive) (the "Promotion Period").
2. To be eligible for the Incentive, the application signing date and submission date of the application for the Eligible Life Insurance Plan of Hong Kong Life Insurance Limited ("Hong Kong Life") must fall within the Promotion Period. The Incentive consists of the First Year Premium Discount of Basic Plan of the Eligible Life Insurance Plan.
3. Subject to the Terms and Conditions herein, clients who fulfill all of the following requirements will be entitled to the First Year Premium Discount of the Eligible Life Insurance Plan as shown in the Incentive Table: (i) the Annualized First Year Premium of Basic Plan being not less than the respective amounts as set out in the Incentive Table (as the case maybe); and (ii) the policy being successfully issued.
4. The Incentive is applicable to the premium of the Basic Plan of the Eligible Life Insurance Plan only and does not apply to any riders thereof.
5. Annualized First Year Premium of Basic Plan is counted per policy and does not include any riders. Annualized First Year Premium is the total amount of first year premium to be paid in respect of the Basic Plan of the Eligible Life Insurance Plan. If the premium of the selected plan is paid on a monthly basis, assuming the monthly premium is HKD10,000, the Annualized First Year Premium will be HKD120,000 (HKD10,000 x 12 months).
6. If the Annualized First Year Premium is not an integer, such figure will be rounded off to the nearest integer for the purpose of calculating the First Year Premium Discount on the Basic Plan of the Incentive that clients can enjoy.
7. The amount of the First Year Premium Discount will be calculated in the currency under which the Eligible Life Insurance Plan is denominated.
8. Clients can pay the net initial premium (premium after deducting the premium discount amount) when they submit their applications. If the premium of the Eligible Life Insurance Plan is paid on a non-annual payment mode (i.e. monthly, quarterly or semi-annual payment mode), the premium discount amount will be counted per modal premium in the first policy year. In addition, if the premium is paid on monthly payment mode, clients are required to pay the net premium of the first two months in one-go upon application submission, and pay the net premiums for the remaining ten months of the first policy year on a monthly basis. The premium discount amount would not be applied subsequently and clients are required to pay the gross premiums each month.
9. In case of any conversion of the Eligible Life Insurance Plan to non-Eligible Life Insurance Plan, changes made to the amount of Principal Amount/Sum Assured (if applicable) or any changes made by clients in the first policy year which results in the premium discount of the Incentive being lower than the discount before the conversion or the relevant Incentive requirement being no longer applicable, Hong Kong Life reserves the right to disqualify such client's entitlement to the Incentive and to seek compensation for the amount of the Incentive already granted to such client.
10. The Incentive is not applicable to policies withdrawn during the cooling-off period. In such case, clients would receive a refund of any premium(s) (net premium after deduction of premium discount amount) and levy(ies) paid (both in the original payment currency) to Hong Kong Life, without any interest.
11. The Incentive is non-transferable and cannot be redeemed for cash and the Incentive is not applicable to the premium on renewal of the existing policy. The premium discount amount can only be used for paying the premium of Eligible Life Insurance Plan in the Incentive Table.
12. The premium discount amount is not eligible for tax deduction. For details of the tax deduction, please refer to relevant product leaflet and the website of the Inland Revenue Department of the Hong Kong Special Administrative Region.
13. Unless otherwise stated, the Incentive cannot be enjoyed in conjunction with any other incentive(s) offered by Hong Kong Life.
14. Hong Kong Life reserves the right to change or terminate the Incentive and amend any terms and conditions of the Incentive at any time without giving prior notice to clients or reason therefor. For the avoidance of doubt, the Incentive applicable to the eligible policy issued prior to such variation, suspension or termination of the Incentive will remain unaffected.
15. Clients should refer to the Product Section of Hong Kong Life website, the policy, proposal, product leaflet and any other relevant documents of Hong Kong Life's life insurance plans for relevant product information, contents, terms and conditions. This promotion describes the details of the Incentive only; it does not refer to any coverage, exclusions, risk disclosure, contents nor terms and conditions of the Eligible Life Insurance Plan. Clients should read, fully understand and accept the coverage, exclusions, risk disclosure, contents, terms and conditions of the policies and proposals before applying for the Eligible Life Insurance Plan inclusive of the Incentive.
16. This Incentive and its relevant terms and conditions are applicable within the Hong Kong Special Administrative Region only and governed by the law of Hong Kong.
17. If there is any discrepancy or inconsistency between the English version and the Chinese version of this promotion, the English version shall prevail.
18. Hong Kong Life reserves the right of final decision in case of any dispute.

Dispute on Selling Process and Product

Chong Hing Bank Limited, CMB Wing Lung Bank Limited, OCBC Bank (Hong Kong) Limited and Shanghai Commercial Bank Limited (collectively "Appointed Licensed Insurance Agencies" and each individually "Appointed Licensed Insurance Agency") are the Appointed Licensed Insurance Agencies of Hong Kong Life, and the life insurance product is a product of Hong Kong Life but not the Appointed Licensed Insurance Agency. 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 Appointed Licensed Insurance Agency and the customer out of the selling process or processing of the related transaction, Appointed Licensed Insurance Agency is required to enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over the contractual terms of the life insurance product should be resolved between Hong Kong Life and the customer directly.

For enquiry, please call our Customer Services Hotline at 2290 2882.