Hong Kong Life
Life Protection
HONG KONG LIFE - Life ProtectionP.1

Everyone Longs for a Fulfilling Life...

In life’s long winding journey, you work hard for the happiness of your family and loved ones,
now and in the future.

There could be mishaps

Replay

Accidents Happen Every Day...

According to the Statistic in 2023:
47 cases a day1
81 cases a day2

Were you to encounter an accident, who would look after the future of
your family and loved ones?
Can accidents really be controlled?

Source:
  1. Data.Gov.HK: Road Traffic Accident Statistics Year 2023
  2. Data.Gov.HK: Occupational Injuries in All Workplaces 2023

Have You Ever Thought About?

If misfortune befell you, not only would your family suffer the loss of their loved one, but also...

Loss of Income

Vanishing of your financial support

Unexpected Expenses

Substantial cash outlays on funeral arrangements

Financial Burden

Difficulties in repaying the mortgage, possibly losing their residence

Distressed Future

Budget disruption in children’s education and retirement support

Case Sharing: Ideal Protection

Andy and Peter, both aged 35, both married with one daughter. As they are travelling overseas together, a car accident happens...

Andy is covered by
a life insurance plan

It pays out a death
benefit of
HK$4 million.
His family gets the necessary support from this HK$4 million benefit.

Peter is not covered by
any life insurance plan

He left behind only
HK$100,000
in cash.
His family spends much of the sum for funeral arrangements. They have to face the loss of their breadwinner.

Even if accidents occur over the course of your life, life insurance helps fulfil your goal of protecting your family.

The Deepest Love Comes from the Most Caring Protection

A comprehensive protection plan can also provide...

Asset
Appreciation

Provides guaranteed cash value and constant returns

Wealth
Accumulation

A perfect saving tool for your future

How would you provide an ideal protection for the future of your loved ones?

Have You Prepared Sufficient Protection for Your Family’s Future?

If a tragedy were to happen, what they need would be...

Emergency Assistance

A one-off cash compensation to cover their urgent needs

Support for Daily Living

Financial coverage for the family to maintain their everyday needs

You should know...

According to the Mortality Protection Gap Study 2021 issued by Hong Kong Insurance Authority, the average size of protection gap million is about HK$1.9 million for each working adult.3

Mortality Protection Gap = Protection needs (future medical cost for dependents; future education cost for dependent children; future household expenditure; and current level of household debt) – resources available (savings and investments; assets related to retirement scheme; and life insurance coverage)

Think about it – how long your protection for your family would last?

Source:
  1. Insurance Authority, Mortality Protection Gap Study 2021

Do You Have Sufficient Coverage?

Fill in the following items to find out your ideal protection amount.

Monthly Family Living Expenses4
HK$
Expected Years to Maintain these Expenses
Yrs
Total Debts5
HK$
Total Asset Amount6
HK$
Expected Average Annual Inflation Rate
%

Ideal Life Protection Amount

HK$

No one can foresee the unknown, so start preparing to protect your family as early as possible!

Definition:
  1. Including all expenses such as living costs, mortgage repayments and children’s tuition fees.
  2. Including the outstanding mortgage loans on your property, car loans, personal loans, savings earmarked for your children’s education fund and funeral expenses etc.
  3. Including life protection amount, cash, bank savings, stocks and bonds etc.

Case Sharing

Mr. Cheng

30 years old, accountantMarried, with a 5-year-old sonMonthly salary: HK$75,000

Financial state:
  • About HK$5 million deposit
  • Mortgaged property with
    HK$3 million outstanding repayment
  • Monthly family expenses of about HK$40,000
Status
  • Mr. Cheng has a medical insurance plan but no life insurance plan.
Worries
  • Mr. Cheng is the family’s sole financial support, while his wife is a full-time homemaker.
Needs
  • A one-time cash compensation to his family if he passes away.
  • An amount large enough to pay off the mortgage and yet still be used as an emergency fund.
Suggestion

Mr. Cheng could consider using Hong Kong Life’s life insurance plan to:

  • Provide proper protection for his family.
  • Grow his wealth steadily.
  • This example is not intended to constitute a recommendation or advice. Please do not rely solely on this example to make application decision. Before applying insurance plan, you may also seek independent and professional advice.

Case Sharing

Details of Mr. Cheng's plan: Life insurance plan to protect his family’s future

Policy Owner and Life Insured: Mr. Cheng
Risk Class: Non-smoker, Standard
Country of Residence: China, Hong Kong
Sum Assured: USD800,000
Premium Payment Term: Single Payment
Single Payment: USD151,784
Total Premium Paid: USD151,784
Surrender Value at Age 65: USD309,711
  • This example uses Grand Fortune Whole Life Protection Plan - 100 for illustration.
  • The policy is automatically terminated when it matures or is surrendered.
  • The surrender value amounts to the guaranteed cash value plus non-guaranteed accumulated dividend and interest (if any) and non-guaranteed termination dividend (if any), after deducting policy loan (if any). The actual amount received may be higher or lower than the estimated amount
  • This example is not intended to constitute a recommendation or advice. Please do not rely solely on this example to make application decision. Before applying insurance plan, you may also seek independent and professional advice.

Contact Us

Life insurance plan is a lifelong commitment to your loved ones.
Will your plans show them how much you care, even when you can no longer be with them?
Let our professional team do an analysis for your financial needs today.

Disclaimer
  1. This promotional material contains general information for reference and is applicable within Hong Kong Special Administrative Region only. It is also governed by the laws of Hong Kong.
  2. The information provided is based on sources which Hong Kong Life believes to be reliable but has not been independently verified. Hong Kong Life makes no responsibilities nor accepts any warranty or guarantee for the accuracy, completeness and timeliness of the information or for any claims and/or losses caused thereby. Any examples given are for the purposes of illustration only.
  3. This promotional material is not intended to constitute a recommendation or advice to any prospective customer and is not intended as a substitute for professional advice. Please do not rely solely on this promotional material to make application decision. Before applying insurance plan, you may also seek independent and professional advice before making any decision.
  4. In case of any discrepancies between the Chinese and English version, the English version shall prevail.

Issued by Hong Kong Life Insurance Limited