Corporate Client and Bank VIP Incentive

Underwritten by: Hong Kong Life Insurance Limited
Appointed Licensed Insurance Agency: Chong Hing Bank Limited, CMB Wing Lung Bank Limited, OCBC Wing Hang Bank Limited and Shanghai Commercial Bank Limited

"Fortune Evergrow 2022" - Client Promotion Incentive (Exclusive for Corporate Clients and Bank VIP) Details

Single or First Year Premium Discount Incentive for Eligible Life Insurance Plans
Promotion Period: From now till 31 December 2022 (Application Signing and Submission Date) (Both Dates Inclusive)

Single or First Year Premium Discount Incentive

With successful applications submitted within the Promotion Period3 for any Eligible Life Insurance Plan(s) of Hong Kong Life Insurance Limited ("Hong Kong Life") as specified below, subject to the conditions of relevant Incentive (as defined below), including but not limited to client type, requirements on Annualized First Year Premium and the policy being successfully issued, clients and their referred Immediate Family Members may enjoy the Single or First Year Premium Discount of Basic Plan14 as specified in the Incentive Table below.

Incentive Table
Eligible Life Insurance Plans Annualized First Year Premium 15,16,17 Single or First Year Premium Discount of Basic Plan14
  HKD USD  
  • Wealth Accelerator Whole Life Protection Plan III
    (3-Year/6-Year/12-Year Pay)
  • Family Care Dread Disease Protection Plan (10-Year/20-Year Pay)
  • Family Fortune Savings Insurance Plan (5-Year/10-Year Pay)
  • Health Accelerator Whole Life Protection Plan 
    (3-Year/6-Year/12-Year Pay)
  • Monthly Reward Whole Life (3-Year Pay)
  • Prime Reward Whole Life Savings Insurance Plan
    (3-Year/6-Year/9-Year Pay)
  • Joyful Whole Life Savings Protection Plan
  • Your Wealth Whole Life Savings Protection Plan
  • Whole Life Protection Plus
  • Perfect 10 Whole Life Protector
18,000 – 49,999 2,250 – 6,249 6%
50,000 – 299,999 6,250 – 37,499 10%
300,000 – 1,499,999 37,500 – 187,499 15%
1,500,000 – 2,999,999 187,500 – 374,999 18%
3,000,000 – 4,499,999 375,000 – 562,499 20%
4,500,000 or above 562,500 or above 25%
  • Wealth for U Savings Protection Plan
18,000 or above 2,250 or above 5%
  • Monthly Reward 18 (3-Year Pay)
  • No. 1 Kid Savings Protection Plan
3%
  • Vantage Medical Plan
No Minimum Premium Requirement 20%
  Single Premium15,16,17

 

  • Premier Universal Life
No Minimum Premium Requirement 1%

 

"Family 1+1" Extra 5% First Year Premium Discount

(Applicable to Chong Hing Bank Limited, OCBC Wing Hang Bank Limited and Shanghai Commercial Bank Limited)

With successful applications of Family Care Dread Disease Protection Plan and Family Fortune Savings Insurance Plan submitted together within the Promotion Period3, subject to the conditions of the abovementioned First Year Premium Discount Incentive, and given all relevant policies being successfully issued, clients may enjoy Extra 5% First Year Premium Discount on all policies of Family Care Dread Disease Protection Plan(s) in addition to the First Year Premium Discount as stated in the Incentive Table. The number of policies which can be entitled to the "Family 1+1" Extra 5% First Year Premium Discount is unlimited.

 

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

Clients could share with their referred Immediate Family Members about their own authentic customer experience at Hong Kong Life, but not to encourage, persuade, convince or recommend their referred Immediate Family Members to buy any specific life insurance products offered by Hong Kong Life. Clients are not authorized to act as Hong Kong Life or bank's Insurance Intermediary, and therefore should avoid sharing about any matters relating to specific insurance product or sales activities of insurance products. For such matters, Clients should inquire with relevant bank's Insurance Intermediary (licensed technical representatives) directly. Clients are not authorized to advise, sell, arrange the purchase of life insurance plans or provide any sales support to the referred Immediate Family Members of the said client. The referred Immediate Family Members of the said client should not rely on any information, advice and/or representation provided by the said client in making a purchase decision.

Terms and Conditions of "Fortune Evergrow 2022" Client Promotion Incentive (Exclusive for Corporate Clients and Bank VIP)
(Extract and applicable to Corporate Clients)

          General Terms and Conditions:

  1.  "Fortune Evergrow 2022" Client Promotion Incentive (Exclusive for Corporate Clients and Bank VIP) (the "Incentive") consists of Single or First Year Premium Discount of Basic Plan of relevant Eligible Life Insurance Plans of Hong Kong Life Insurance Limited ("Hong Kong Life") and the "Family 1+1" Extra 5% First Year Premium Discount.
  2. The Incentive is applicable to the following client types and the referred Immediate Family Member (collectively known as the "Clients"):
    Client Type Eligibility
    Corporate Clients Corporate clients of bank, all corporate staff and their referred Immediate Family Members
    Bank VIP Designated client type of bank and their referred Immediate Family Members
    Immediate Family Members include parents, spouses, children, siblings, grandparents and grandchildren.
  3. The Promotion Period of the Incentive is from 2 July to 31 December 2022 (both dates inclusive) ("Promotion Period").
  4. To be eligible for the Incentive, the application signing date and submission date of the application for any of the Eligible Life Insurance Plans must fall within the Promotion Period.
  5. Unless otherwise stated, the Incentive can be enjoyed in conjunction with "ISM Branch Roadshow Incentive 2022", "Special Premium Deposit Account Extra First Year Guaranteed Preferential Interest Rate" Client Promotion, "Fabulous" Premium Discount Voucher, "Topmost" Premium Discount Voucher or "Wow Offer" Premium Discount Privilege but not any other incentive(s) offered by Hong Kong Life. However, only one premium discount voucher could be used for each policy.
  6. Clients could share with their referred Immediate Family Members about their own authentic customer experience at Hong Kong Life, but not to encourage, persuade, convince or recommend their referred Immediate Family Members to buy any specific life insurance products offered by Hong Kong Life. Clients are not authorized to act as Hong Kong Life or bank's Insurance Intermediary, and therefore should avoid sharing about any matters relating to specific insurance product or sales activities of insurance products. For such matters, Clients should inquire with relevant bank's Insurance Intermediary (licensed technical representatives) directly. Clients are not authorized to advise, sell, arrange the purchase of life insurance plans or provide any sales support to the referred Immediate Family Members of the said client. The referred Immediate Family Members of the said client should not rely on any information, advice and/or representation provided by the said client in making a purchase decision.
  7. 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.
  8. 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(s). Clients should read, fully understand and accept the coverage, exclusions, risk disclosure, contents, terms and conditions of the policies and proposals before applying for any Eligible Life Insurance Plan(s) inclusive of the Incentive.
  9. 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.
  10. If there is any discrepancy or inconsistency between the English version and the Chinese version of this promotion, the English version shall prevail.
  11. Hong Kong Life reserves the right of final decision in case of any dispute.

    Specific Terms and Conditions of Single or First Year Premium Discount Incentive:
  12. Subject to the General Terms and Conditions and these Specific Terms and Conditions herein, Clients who fulfill all of the following requirements will be entitled to the Single or First Year Premium Discount of Basic Plan of the Eligible Life Insurance Plans 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); (ii) fulfill the Eligibility and Terms and Conditions of the incentive program as set out in clause 23 to clause 24 hereof and (iii) the policy being successfully issued. Immediate Family Members include parents, spouses, children, siblings, grandparents and grandchildren. The number of referral is unlimited.
  13. Relevant client or the referred Immediate Family Member must fill in relevant part(s) in the "Hong Kong Life Client Incentive Declaration Form" (if applicable) and submit it together with the application of any of the Eligible Life Insurance Plans.
  14. The Single or First Year Premium Discount is applicable to the premium of the Basic Plan of the Eligible Life Insurance Plan only and does not apply to any riders thereof.
  15. Single and Annualized First Year Premium of Basic Plan are counted per policy and do 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).
  16. 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.
  17. For the Eligible Life Insurance Plan underwritten by Hong Kong Life, the Single or Annualized First Year Premium must meet the prescribed minimum or maximum amount of the respective insurance plan. For details of the premium, please refer to the relevant policy documents.
  18. The amount of the Single or First Year Premium Discount will be calculated in the currency under which the Eligible Life Insurance Plan is denominated.
  19. Clients can pay the net initial premium (premium after deducting the premium discount amount) when they submit the applications. If the premium of the Eligible Life Insurance Plan is paid on a non-single premium or 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 client is required to pay the gross premiums each month.
  20. In case of any conversion of any Eligible Life Insurance Plans to non-Eligible Life Insurance Plans, 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.
  21. The Single or First Year Premium Discount 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.
  22. The Single or First Year Premium Discount 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.

    Specific Terms and Conditions of the Incentive applicable to Corporate Clients:
  23. The details and eligibility of Incentive applicable to Corporate Clients include:
    Eligibility All corporate staff and their referred Immediate Family Members Corporate as Policyowner
    Policy Ownership Policy must be owned by individual Policy must be owned by corporate
  24. To be eligible for the Single or First Year Premium Discount, corporate staff or their referred Immediate Family Members must complete relevant section in the "Hong Kong Life Client Incentive Declaration Form" and submit it together with the application for any of the Eligible Life Insurance Plans.

    Specific Terms and Conditions of "Family 1+1" Extra 5% First Year Premium Discount ["Family 1+1"]:
  25. Subject to the General Terms and Conditions and these Specific Terms and Conditions herein, Clients who fulfill all of the following requirements will be entitled to the Extra 5% First Year Premium Discount at policy issuance of all policies of Family Care Dread Disease Protection Plan: (i) the applications of Family Care Dread Disease Protection Plan and Family Fortune Savings Insurance Plan must be submitted together within the Promotion Period, and the application signing date of all relevant applications must be the same; (ii) fulfill the Terms and Conditions of the incentive program as set out in clause 12 to clause 21 hereof; and (iii) all relevant policies being successfully issued. The number of policies which can be entitled to the "Family 1+1" is unlimited.
  26. "Family 1+1" is applicable to the premium of the Basic Plan of the Family Care Dread Disease Protection Plan only and does not apply to any riders thereof.
  27.  The extra premium discount amount is calculated from the gross premium. Clients can pay the net initial premium (premium after deducting all relevant premium discount amount) when they submit the applications.
  28. All policies of Family Care Dread Disease Protection Plan and Family Fortune Savings Insurance Plan must be owned by the same policyowner for the client to enjoy the "Family 1+1".
  29. Client's Family Fortune Savings Insurance Plan must remain inforce for the first policy year to enjoy the "Family 1+1". In case of any changes made to the Family Fortune Savings Insurance Plan by Clients in the first policy year, which results in the requirement of "Family 1+1" being no longer applicable, Hong Kong Life reserves the right to disqualify such client's entitlement to the "Family 1+1" and to seek compensation for the amount of the Incentive already granted to such client.
Dispute on Selling Process and Product

Chong Hing Bank Limited, CMB Wing Lung Bank Limited, OCBC Wing Hang Bank Limited and Shanghai Commercial Bank Limited (collectively "Appointed Licensed Insurance Agencies" and each individually "Appointed Licensed Insurance Agency") are the Appointed Licensed Insurance Agency 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 about the Life Insurance Plan, please call our Customer Services Hotline at 2290 2882.