Insurance

How do I identify risk?

The things you need to protect or to be protected against in life can be divided into three basic categories:

1. Personal protection. This means protection for yourself and your family. You may need insurance for:

• Death and disability
• Medical and health
• Personal and family income

2. Property and assets. You need to protect the things you own, such as:

• Your home
• Household contents
• Personal belongings
• Money and valuables

3. Liability. If by chance you are held responsible for a negligent act, you may be legally liable to pay damages. So you may need to be covered for:

• Your employees (including domestic helpers)
• Your tenants, if you're a landlord
• Your rented flat, if you're a tenant
• Personal and general risks

How do I protect my assets?

Your assets are your most valuable possessions. They would cost money to replace if they were lost, damaged or stolen. The insurance plans available to protect your assets include:

Property insurance. This protects you against losses arising from damage to your home caused by such things as typhoons, earthquakes, landslides and gas-leak explosions. If you have a mortgage on your home, this type of insurance is compulsory.

Home insurance. This refers to your household belongings, such as furniture, appliances, cameras, computers, jewellery, ornaments, paintings and even the food in your freezer. Most policies also cover your belongings even when they're not in the home, for example, when you take your camera on holiday or wear your jewellery to a party. Some policies also cover personal accident and loss or damage during the decoration or refurbishment of your home.

Travel insurance. This covers you for most of the risks inherent in traveling abroad. Most policies cover personal accident and liability, and loss and theft of your belongings, money and credit cards. Some policies even cover the delay in the arrival of your baggage and extra expenses if your flight is cancelled or delayed. Medical expenses and emergency evacuation are also covered.

What is liability insurance?

Your assets are your most valuable possessions. They would cost money to replace if they were lost, damaged or stolen. The insurance plans available to protect your assets include:

• Statutory liability. If you have domestic helpers, you should compensate them for accidents or loss arising out of and in the course of their employment with you, even if the accident is caused by carelessness. An employees' compensation policy may cover medical expenses, loss of wages, permanent disablement, death and repatriation expenses. If you have a motor vehicle or a pleasure craft, you should also insure yourself against causing damage or injury to others or their property.
• Third-party liability. If you're a landlord, it is wise to insure yourself against any injury or loss to your tenant or third party while he/she is in your property. If you're a tenant, you can cover yourself for any damage, loss or injury to a third party in relation to the home you're renting, resulting from your negligence. Personal liability insurance will cover you for all non-statutory, third-party risks resulting from negligence, such as property damage or bodily injury you may cause when playing sports.

What types of life insurance are there?

No one likes to think about the possibility of a serious accident or death, so people often avoid thinking about life insurance. While life insurance protects your family should the worst happen, some policies can also provide an excellent way of saving for your future or your retirement. Depending on the type of insurance plan you have, you may get back what you put into a life insurance scheme with interest when the policy matures.

Some life insurance plans carry a savings element. Part of your premium is invested, often with a choice between a guaranteed return on your money or an investment linked to the performance of the financial market. Whole-life and endowment policies are policies that build up a cash value.

A whole-life policy will stay in force until you die, even if you live up to the age of 100, if you do not wish to cash it in earlier. An endowment policy, on the other hand, matures after a set term of, say, 20 or 30 years.

Both types of policy can accumulate substantial savings. Obviously, the earlier you start, the more you will earn from the policy by the time you retire.

A disablement cover is often attached to whole-life and endowment policies. A term life insurance policy is taken out for a fixed duration or term and will pay a lump sum if the policyholder dies during the term of the policy. The premiums are reasonable for this type of policy, but there is no savings element to it, so the policy will simply cease at the end of the term, with no payable cash value. A term life policy can be linked to a mortgage, whereby the benefits will decrease as the mortgage is paid off.

What kinds of insurance cover hospital care?

Anyone who has sought private medical care will know the high cost of treatment. Even if you're fit and healthy, it pays to protect yourself and your family. Even a broken finger can be costly to treat.

Health insurance. This will cover you if you need an operation or other hospital care. It will pay in full or in part for the room, medical services and medicines, surgeon's and anesthetist's fees, consultation and outpatient benefits.

Travel insurance. There's nothing worse than falling ill while you're on holiday, especially if you're on a remote island or in a country where you don't speak the local language. Travel insurance will pay for your medical and hospital expenses abroad, and with some policies you will be flown back to your home country for treatment.

How do I buy a policy?

Today's insurance companies are flexible and accommodating, and buying insurance is a simple procedure once you know what protection you need. Just tell your insurance company what risks you would like covered and the company will usually offer a plan to meet your needs.

When you have chosen a policy or policies, you will be asked to complete a proposal form. The details you give must be truthful and accurate because the premiums and the terms of the policy will be based on the information you provide. Inaccurate information could render the policy invalid and you would not be able to make a claim.

Once the insurance company has accepted your proposal form, an offer will be made to you. Upon acceptance, you will usually be covered within a very short time.

For each policy you have, you must be satisfied that you and your family are fully covered for all the risks you want to cover. Read the policy carefully to see if it meets your requirements. Check the list of exclusions to see what you are not covered for. If you find anything in it that is not what you expected, or that seems questionable, point it out to the insurer and ask for amendments. Some policies have a short review period. If you are not happy with the cover provided, you may return your policy within the review period for a full refund.

What do I need to do to manage my policy?

Make sure the sum insured is sufficient to cover your needs. Review the policy annually, before renewal, to ensure it keeps up with inflation.

Update your insurance cover regularly to reflect any material changes, such as:

• Additional purchases
• Change of occupation, address, etc
• Major changes in your health

Don't keep your insurance arrangements to yourself. Tell your spouse or best friend about your policies in case you are incapacitated when you want to make a claim.

An insurance policy is a legal document, so you must keep it in a safe place. And remember where you put it!

How much should my sum insured be?

The sum insured of your policy depends on what kind of policy it is. If you're insuring assets, then you must make sure you are covered for the replacement value of your possessions. For example, if your TV set is stolen, your insurance should cover the cost of buying a new one of exactly the same model.

If you're buying life or disability insurance, the amount you insure for depends largely on your needs and how much in premiums you are willing to spend after allowing for your lifestyle and other financial commitments.

Many companies offer packages with various levels of sum insured. Simply weigh the sum insured against the level of premium and then make your choice.

What should I do in the case of loss, damage or injury?

Take whatever steps are necessary to prevent further loss, damage or injury. Report to the police if your policy stipulates that you should. The police will complete a report with a reference number, which you may need when making a claim. Call your insurance company's hotline as soon as possible.

How do I make a claim?

You should contact your insurance company's claims department as soon as possible. You will then be asked to fill in a claim form and submit documentary evidence to support your claim:

• Invoices, receipts and/or estimates for property damage, loss or theft.
• Full medical evidence and receipts for medical treatment in the case of medical claims.
• Birth and death certificates for personal accident/life insurance policies where a death benefit is payable.

In liability cases, it is actually the third party who makes the claim so, to a large extent, the claim is out of the policyholder's hands. If the third party is efficient in providing information and evidence, the insurer is in a better position to offer payment to the third party.

Can I submit the change of beneficiary through HSBC Internet Banking at any time?

Yes. You can submit instructions via Online Banking and HSBC HK App. We offer 24/7 services except when we're maintaining or upgrading the system.

What are applicable policies that can be updated in the change of beneficiaries journey?

You can update the beneficiaries for:

• HSBC Life policies (except First Care, LifeCare, Mortgage Protection Plan and Master Premium Protection Plan)
• policies owned by the same policyholder
• policies without irrevocable beneficiaries, assignees or charitable giving benefits

What is a secondary beneficiary?

If there aren't any primary beneficiaries living at the time of the life insured's death, the secondary beneficiaries will become the beneficiaries of the policy.

Why can't I update beneficiaries via Online Banking and HSBC HK App?

You can't update the beneficiaries via Online Banking and HSBC HK App because there's an irrevocable beneficiary, an assignee or a charity nominated for your policy. To update the beneficiaries, you'll need to submit the required form and additional documents.

Where can I change my beneficiaries via Online Banking and HSBC HK App?

To change the beneficiaries, please follow the steps below.

• Online Banking: go to ‘Policy summary’ under ‘Insurance & pension’ > select your policy > ‘Beneficiaries’
• HSBC HK App: select your policy under 'Insurance' > "Beneficiaries"

How do I receive the policy maturity and claim benefits from my life insurance policy?

We support different preferences with regard to how your policy benefits are to be made available to you. You can choose to:

• Receive a cheque in the currency your insurance policy is denominated in or in HKD for local settlement; or
• Receive a bank draft for overseas settlement; or
• Have the benefit credited directly to the same designated HSBC account from which your premium payments are debited; or
• Have the benefit transferred to a bank account you have set up anywhere in the world*.

* subject to verification by the correspondent / beneficiary bank in accordance with local regulatory requirements.

 
If I live abroad, how do I make premium payments through telegraphic transfer for my life insurance policy?

If you wish to make your premium payments through telegraphic transfer from an overseas location, please contact us through email or by phone. We will be pleased to provide you with all the relevant information.

You can find our contact information by clicking the "Contact HSBC" tab at the bottom of the "Help and support" page of our website.

How to make an inquiry or lodge a complaint to us on your life insurance policy?

Should you have any inquires or complaints on your life insurance policy, please contact our customer service hotline at 2583 8000.

How can I change my personal information for insurance policy?

Life insurance:

Please complete the Change of Customer Information Form and submit your request by either document upload, mailing-in the original form, or submitting the form to an HSBC branch.

For Document Upload

• you can find the 'Document Upload' function on either a) HSBC public website; b) HSBC Online Banking – select 'My Insurance' > 'Upload insurance Documents' > 'For your policy servicing request';  or c) HSBC Mobile Banking – select 'your life insurance policy' > 'Document upload' > 'For your policy servicing request'.
• upload the form via 'Document Upload' by selecting 'For you policy servicing request', then fill in the form to give us your instructions.
  

For mailing-in original form

• Please mail to:
  HSBC Life (International) Limited
  18/F Tower 1
  HSBC Centre
  1 Sham Mong Road
  Kowloon
  Hong Kong

General insurance:

Please complete the General Insurance Amendment Request Form and submit your request in one of two ways:

• mailing the original form, or faxing/emailing a copy of the original form, to AXA via the contact details given in the form
• submitting the original form to any HSBC branch

Please ensure the accuracy and completeness of the information provided on the form.

Can a child aged under 18 apply for TravelSurance if they are not travelling with adult?

If cover is required for children under 18 years old, parent’s or legal guardian’s[@legalguardiantravelsurance] information must be provided during the application process. For children aged under 12 years old, they must be accompanied by an adult during the trip.

Can I buy the TravelSurance for my friends or my friends' child(ren)?

Yes, you can buy TravelSurance for your friends and your friends’ child(ren) who is/are under 18 years old by providing your friend’s full name, HKID number and date of birth.

If cover is required for children under 18 years old, parent’s or legal guardian’s[@legalguardiantravelsurance] information must be provided during the application process. For children under 12 years old, they must be accompanied by an adult during the trip.

In case of emergency, how can I contact AXA for assistance?

You can call the Emergency Assistance Hotline on (852) 2528 9333 at any time for emergency medical and evacuation assistance, travel information, baggage assistance, medical referrals, legal referrals and emergency ticketing. The hotline operates in English, Cantonese and Mandarin.

How can I manage my policy in case I want to extend the covered period during my travel?

Should you have any queries about your policy, including request to extend the covered period, you can call our insurance service hotline at (852) 2867 8678 (during office hours) or manage your policy at ease by e-Policy servicing after logging onto HSBC Online Banking if you are an HSBC Online Banking customer. This online service provides you with 24-hour access to your policy details and allows you to submit policy service requests without hassle. Please note the covered period can be extended during travelling if you give us the notice of change before the start date of the extension while the policy is still in force. However, please note any extension is subject to AXA’s approval.

What if I’m being confined in an overseas hospital but not able to speak the local language, is the interpretation service fee covered under the policy?

In case you are confined in overseas hospital for over 24 hours due to accidental bodily injury or sickness during the trip and appoint a local translator referred by Emergency Assistance Service, a maximum of HKD500 per day subject to a HKD5,000 per trip is payable for the interpretation service.

What is the catch-up ticket benefit under in case of travel delay?

If you are insured under Asia or Worldwide Standard Plan, in the event the common carrier in your original travel itinerary is delayed during the trip for more than 6 hours due to covered conditions and you decide to buy another one-way travel ticket to catch up with the planned itinerary, the additional and reasonable cost of the ticket replacement will be reimbursed, up to HKD2,000 for Asia Standard Plan and HKD4,000 for Worldwide Standard Plan.
Please note that cash allowance and trip re-routing benefits will not be payable if catch-up ticket benefit is paid, and vice versa.

What kind of sports and activities are covered by TravelSurance?

TravelSurance covers various kinds of sports and activities provided that they are not played in professional capacity or in competition involving prize money or reward of any kind. For example, you are covered for dune driving, sand boarding, safari adventures, whale tours, hot springs, horse riding, cable cars, iceberg climbing, watching auto racing, water sports, skiing, ice-skating, biking, thrill rides at amusement parks etc.

TravelSurance also covers hazardous sports activities such as hot air ballooning, bungee jumping, hang-gliding, parachuting, zipline, rafting, speed-boating, jet-skiing, trekking, water skiing, wakeboarding, wakesurfing, sea kayaking, scuba-diving (that is diving to a depth not greater than 40 metres), mountaineering, rock-climbing etc.

To see what you’ll be covered for under TravelSurance, check the full list.

What extra protection can I receive if a Travel Alert is issued for the planned destination?

Except Greater Bay Area plan, you will be protected against the issuance of the Travel Alert in the following ways, provided that no claim has been paid. Before the trip, you may:

• upon any Travel Alert, cancel your Single Trip policy and receive a full premium and levy[@insurance-travelsurance-levyrefund] refund;
• upon Red Travel Alert (except for the reason of a pandemic), be reimbursed up to 50% of the irrecoverable deposits or charges paid in advance upon cancellation of trip up to HKD50,000 for Standard Plan and HKD25,000 for Basic Plan.
• upon Black Travel Alert (except for the reason of a pandemic), be reimbursed up to 100% of the irrecoverable deposits or charges paid in advance upon cancellation of trip up to HKD50,000 for Standard Plan and HKD25,000 for Basic Plan.

During the trip, you may:

• upon any Travel Alert, have your insurance automatically extended for 10 days free if your trip is unavoidably delayed;
• upon Red Travel Alert, be reimbursed up to 50% of the unused irrecoverable prepaid costs or additional travel-related costs upon curtailment of trip for up to HKD50,000 for Standard Plan and HKD25,000 for Basic Plan.
• upon Black Travel Alert, be reimbursed up to 100% of the unused irrecoverable prepaid or additional travel-related costs upon curtailment of trip for up to HKD50,000 for Standard Plan and HKD25,000 for Basic Plan.
• upon Black Travel Alert, obtain an additional HKD1,000 allowance to subsidise any unexpected cost due to curtailment of trip or unavoidable delay of the scheduled trip.

Can I claim for medical expenses incurred during my trip for any sickness or disease?

The policy covers medical expenses incurred provided that such sickness or disease is not in existence prior to the trip, and not caused by:

• an event of same nature mentioned in the black or red travel alert (except for the reason of COVID-19), unless the journey has been started before the issuance of such travel alerts
• claims relating to the vaccine-preventable diseases if prior to the trip: (i) the insured person fails to obtain the related vaccine; and (ii) the vaccine is mandatorily required by the government(s) of Hong Kong SAR and/or the destination where the insured person has planned to travel.

For Greater Bay Area Plan, this benefit is only applicable for medical treatment requiring hospitalisation.

What is the virtual medical consultation service about and how can I use this?

If you have taken out the MultiTrip Worldwide Plan, you are entitled to 6 free virtual medical consultations per period of insurance by using MyDoc Health Passport. The consultations are usually available during local doctors’ office hours. Following a virtual medical consultation, you may choose to obtain the prescribed medication and have it delivered to your doorstep as needed during specific hours; however, this will incur charges which you will need to pay first and may then claim in accordance with your policy if eligible.

The virtual medical consultation is currently available in Tokyo, Osaka, Hokkaido and Fukuoka for Japan, and countrywide for Singapore, Thailand and Vietnam.

You will receive a confirmation email with a step-by-step guide on how to use the virtual medical consultation service.

Please note the above details are subject to change without prior notice.

Is an epidemic/ pandemic considered as a natural disaster?

Natural Disaster does not include epidemic or pandemic.

How do I make a change to my Policy?

You have to inform AXA if there are any changes of the insured items or personal details of the policyholder and insured. You may call AXA at (852) 2867 8678 or email axa.bank.gi@axa.com.hk.

What is No Claim Discount (NCD)?

No Claim Discount (NCD) is a reward to you (the insured) for no claim is made to the policy during any of the periods of insurance specified below. You will earn a 10% discount on the renewal premium with a maximum of 60% discount if no claim is made for 5 consecutive years with the details as below:

(Application to Private Car only)

If a claim is made or being claimed during a period of insurance of which you are entitling NCD 40% or less, your NCD will be forfeited and resume from 0% at the renewal year.

If a claim is made or being claimed during a period of insurance of which you are entitling NCD 50% or 60%, your NCD will be reduced to 20% or 30% at the renewal year respectively. However, if you make more than one claim or being claimed, your NCD will be forfeited and resumed from 0% at the renewal year.

What is M.I.B.?

M.I.B. ("Motor Insurers' Bureau of Hong Kong") is a company incorporated in Hong Kong and limited by guarantee. All motor insurance policies issued in Hong Kong must contribute a levy based on the policy premium to M.I.B., this M.I.B. surcharge will be included and shown in the premium breakdown on Policy Schedule. It provides compensation to victims of traffic accidents where the drivers concerned are uninsured or untraceable, or the insurers concerned are insolvent.

Why sum insured is not required during application?

AXA gives you a hassle free to assess the car value every year. AXA will indemnify you against loss of or damage to your car based on the Market Value of the insured car at the time of loss. Market Value means the cost of replacing the insured car with one of the same make and model, of similar condition, specification and age as prevailing immediately before the accident. Thus, sum insured is not required for this.

What is "Excess"? What kind of "Excess" applies to me?

Excess is the amount of that you have to contribute towards the cost of a claim, it will be applicable depending on the type of claim made as well as the person is driving the insured car at the time of the accident.

General Excess is applicable to the loss of or damage to the insured car for Comprehensive Cover only.

Third Party Property Excess is applicable to any claim for indemnity against liabilities for third party property damage.

Young Driver Excess is applicable if the person, who is driving the insured car at the time of accident, is below the age of twenty five (25) years old.

Inexperienced Driver Excess is applicable if the person, who is driving the insured car at the time of accident, has held a valid driving license for a period less than 2 years.

Unnamed Driver Excess is applicable if the person, who is driving the insured car at the time of accident, is not named in the Policy Schedule or Certificate of Insurance but who is authorized by the policyholder to drive the insured car.

Theft Loss Excess is applicable to the insured car if a claim is arising out of theft or attempted theft.

Parking Damage Excess is applicable to the insured car if the loss or damage occurs whilst the insured car is parked.

If the insured driver is aged 25 below, holding a valid driving license less than 2 years and not named in the Policy Schedule at the time of accident, where Young Driver Excess, Inexperience Driver Excess and Unnamed Driver Excess are all applicable at the same time, these three excesses will be calculated cumulatively in addition to General Excess or Third Party Property Excess whichever is applicable.

Why the Policy Schedule is not given?

If the Vehicle Registration Number is not provided, you will only receive the Certificate of Insurance at the time of policy issuance. Please contact AXA at (852) 2867 8678 or email to axa.bank.gi@axa.com.hk within 14 days of policy issuance to provide your Vehicle Registration Number. AXA will email you the Policy Schedule, updated Certificate of Insurance and other related documents.

What is NCD Protection (applicable to Comprehensive Cover only)?

Under No Claim Discount (NCD) Protection, if the total claims in aggregate during the current Period of Insurance do not exceed the amount of HKD60,000 or 30% of the insured car's reasonable market value (whichever is the lesser) then you will be entitled to the same NCD upon renewal. However, NCD Protection does not apply if NCD is to be transferred to any other insurance company for whatever reason including non-renewal by both parties. In addition, NCD Protection also does not apply if your insured car falls under the Car Grouping 99 as set out in the Policy Schedule.

What is Rental Car (applicable to Comprehensive Cover only)?

When your car is being repaired exceeding 48 hours due to a car accident necessitating immobilized, or being stolen and not found within 48 hours, AXA will reimburse the cost of rental car given the make and model of the rental car is identical or similar to your car, and not better nor more expensive than your car; however you have the named driver has to bear 20% of the rental costs.

If I take "Third Party Only" Cover and also select Add-on benefit of "Personal Accident to the Named Driver", will this optional cover apply to all named drivers of my policy?

Add-on benefit "Personal Accident to the Named Driver" under "Third Party Only" Cover only applies to the named driver, who aged between 18 and 70 years old at the time of accident sustains bodily injury.

Can I change the policy details after the policy has been issued?

You can change the policy details (eg. addition of named driver) but premium, terms and conditions may be different from originally given. Please call our insurance services hotline at (852) 2867 8678 or email to axa.bank.gi@axa.com.hk for enquiry.

Is the premium guaranteed to remain unchanged during the period of insurance and upon policy renewal?

The premium is based on a number of factors including the type of cover, the Add-on benefits you choose, the car to be insured and driver profiles but it is not guaranteed to remain unchanged. AXA reserve the right to adjust premiums if considered to be necessary.

Can non Hong Kong resident apply for Motor Insurance?

No. We only accept application from Hong Kong resident who has valid HKID and Hong Kong Driving License.

How can I manage and renew my Motor Insurance policy?

You can call our insurance services hotline (852) 2867 8678 or email to axa.bank.gi@axa.com.hk should you have any queries about your policy and may receive your insurance renewal notice email at least 1 month before your policy expiry date. This will contain your next year's premium and terms and conditions.

Can I cancel my Motor Insurance policy?

You can cancel your policy at any time by giving AXA a 7-days in-advance notice (provided no claim has arisen during the current Period of Insurance and the Current Certificate of Insurance has been returned to AXA on or before the date of cancellation). You shall be entitled to a pro-rata refund of premium for the period the Policy is not in force subject to a minimum non-refundable premium of amount HKD$500 (not including M.I.B. surcharge) for policy cancellation.

What do I do in the event of an accident?

In the event of a traffic accident, please remember to:

• Keep calm and report to the Police immediately;
  
• Obtain the third party driver's particulars including name, contact number and insurer (if known);
• Record the registration number of third party's vehicle;
• Record the damage condition (by taking photo);
• If there are any witnesses, note their names and contact numbers;
• Call our 24-hour assistance hotline at (852) 2851 1990 if you need our assistance including emergency roadside assistance^, towing of the motor car^, rental vehicle^, general information of traffic regulation, advice on claim procedure, etc.;
• Call 24-hour accident assistance hotline at (852) 2851 1990 to have your repairs at AXA Premium Workshops;
• Inform AXA as soon as possible with full particulars;
• Immediately notify AXA or forward to AXA every letter, claim, writ, summons and process. Please do not answer by yourself.

How do I make a claim?

In order to get your claim processed promptly, please provide AXA the following:

• a completed duly signed claim form;
  
• a copy of the valid Vehicle Registration Document (both sides) of the insured car;
• a copy of the insured driver's HKID and Driving Licence;
• a Personal Data (Privacy) Ordinance Data Access Request Form and Letter of Authorization signed by the driver;
• repair quotation from the repairer, if applicable;
• a copy of the Screening Breath Test Result Form, if applicable;
• Police Correspondence, including Notice of Intended Prosecution, police statements, etc.;
• copy of any third party correspondence, summons or writs.

Submit to AXA by:

1. Mail to: P.O. Box No. 91012 Tsim Sha Tsui Post Office, Kowloon, Hong Kong;
   
2. Fax to: (852) 2285 6237;
3. Email to: motor.claims@axa.com.hk;
4. Fill out HSBC online claim form.

Pay attention:

1. Notify AXA within 7 days of the accident;
2. Do not admit liability, make any offer, promise anything or make payment to any other party without AXA's written consent;
3. Notify AXA immediately if you know about any impending prosecution, inquest or fatal inquiry in connection with the accident.

How does ResidenceSurance cover my home if I’m going to renovate my home by engaging a renovation contractor?

ResidenceSurance covers the accidental damage and loss of property according to the Household Contents cover in Section 1 during the first 4-month of the renovation period (not applicable to Plan1). Also, household contents which are temporarily moved away from home, e.g. moved to mini-storage facilities, will be covered for accidental damage and loss.

What is covered if I’m going to move Home?

ResidenceSurance covers:

• accidental loss of and damage to household contents and valuables occurring in the course of removal by professional removers between the Home and any new permanent residence within Hong Kong (not applicable to Plan A and B);
• accidental loss of and damage to household contents and valuables at the new Home for a period of 2 months from the beginning of the lease (where you lease the property) or from the first time of occupation of the Home (where you own the property)(not applicable to Plan A and B); and
• accidental loss of and damage to household contents temporarily away from the Home in locations including ministorage facilities, work locations and rented locations of policyholder and his relatives.

Some of my electrical appliances are fairly old. Will they be covered?

ResidenceSurance provides cover for accidental loss of or damage to household contents regardless of whether the insured items are new or old. Regarding the indemnity of the loss, they are covered on a “New For Old” basis, without any deduction for depreciation. If the appliances are stolen or beyond repair due to accidental damage, they will be replaced by a new article of the same kind which is of similar but not better quality. If there are no longer any No Better-off items in the market due to technology or product advancement, we will take reference from market price of the nearest current model available in the market at the time of claim, and then apply a reduction percentage on the market price proportional to the “betterment” of the current model over the lost or damaged item.

How I can insure my valuables?

ResidenceSurance’s Plan 1, 2, 3 & 4 have automatic coverage of valuables accidentally lost or damaged at home up to the specified sum insured and per item limits. If you want more coverage, ResidenceSurance covers valuables up to HKD80,000 per item and additional HKD500,000 in aggregate sum insured under the optional rider of “Top-up Worldwide “All Risks”” (only for plan 3 and 4 and annual premium payment mode). You can also insure valuables exceeding such limits on specified item basis at agreed values with the designated application form for specified items, subject to underwriting approval. You cannot claim under both Section 1 and 5, or under both 2 and 5, for the loss or damage of the of the same item.

How can I apply for "Energy-efficiency" benefit? In a claim, can my household item be replaced with one with a better energy saving standard?

If the claim relates to the replacement of a damaged refrigerator, room cooler, washing machine, electric clothes dryer or electric storage water heater which is covered under the policy and bears a Grade 3, 4 or 5 energy saving level , we will replace the item with an item that bears a “Grading Type” energy label of Grade 2, or to Grade 1 if no Grade 2 item is available in the Hong Kong market. For the replacement of any of these appliances which bears a Grade 2 energy saving level, we will replace it with a new item of similar specification with Grade 1 energy saving level. If your damaged appliance does not bear any energy saving label, we will replace with one of similar specification with a minimum of a “Recognition Type” energy saving labeling level or equivalent with a minimum Grade 2 energy saving label, whichever is available in the Hong Kong market. Provided the energy saving label is recognized by Electrical and Mechanical Service Department and the upgrade payment will not be more than HKD5,000 for any one item.

Will the premium and levy^{^} change?

The renewal premium may change due to aging of the residential building, inflation, claim experience or other factors but we will inform you in advance of the change before renewal. The premium may also be adjusted if the identity of the policyholder in relation to the use of the insured premises is changed (e.g. change from a landlord (non-renting out) to a tenant) . Levy is paid to the Insurance Authority and it depends on the levy rate announced by the Insurance Authority.

Are there any excesses for claims? What is the excess if I take the optional cover – Top- up worldwide all risk?

You may refer to the excess details at the Sum Insured Table in this factsheet and the policy schedule required for the relevant sections.

If you have selected the optional-cover of Top-up Worldwide “All Risks” (Section 5), the excess will follow the excess of the option you have chosen under Section 5. However, if the benefit payable according to the item limit and excess of Section 2 (which is the basic worldwide “All Risks“ cover) would be higher than that of Section 5, then the item limit and excess of Section 2 should apply instead of that of Section 5.

How can I manage my policy?

You can call (852) 2867 8678 should you have any queries about your policy, or manage your policy at ease by e-Policy Servicing after logging on to HSBC Internet Banking if you are a HSBC internet banking customer. This online service provides you with 24-hour access to your policy details.

^Levy collected by the Insurance Authority will be imposed on this policy at the applicable rate. For further information, please visit or contact AXA at (852) 2867 8678.

What types of medical expenses are covered under this plan? Can I claim for outpatient expenses incurred through sickness?

If you sustain an accidental injury, such as a broken arm, this insurance plan will cover you for any necessary and reasonable expenses incurred for in-hospital and outpatient medical, surgical or nursing treatment, including the costs of medical supplies, ambulance hire or professional home-nursing fees. However, the cost of dental care and treatment is not covered unless such treatment is an emergency and is caused by accidental injury to sound natural teeth.

As sickness is not classified as an accident, the medical expenses incurred cannot be covered under this plan.

My son is planning to study abroad for a few years. Can he be covered under the policy?

The insured person must be resident in Hong Kong at the time of their application. If they subsequently live abroad for a continued period or study overseas, they will still be covered under AccidentSurance.

I'm now working for the Hong Kong Police Force as an internal supporting staff. Will I be covered during working hours? Will the protection be continued if I take up an operational role later? Should I report when I change my occupation?

Yes, supporting staff of the Hong Kong Police Force are covered under the plan during working hours provided that they are carrying out clerical duties. However, if you take up an operational role, you will no longer be covered for any accident incurred at the time of carrying out duties.

You are not required to inform us of any change of occupation. However we advise you to review whether your new job is classified as one of the excluded occupations under the policy exclusion.

Is any proof required when I submit a claim?

You are required to fill in a claim form and submit documentary evidence (at your expense) to support the claim:

• For claims of accidental death or injury benefits, the claimant has to submit reports such as medical reports, attending physician's report, police reports, death certificate, the coroner's report and other related documents;
• For claims of medical expenses or Chinese bonesetter expenses, the claimant has to submit full medical evidence, original receipts and other related documents of medical treatment.

If any medical expenses or Chinese bonesetter expenses have been fully paid by another insurer or employer, can I also claim reimbursement under AccidentSurance?

No, we will only be liable for the excess of the amount recoverable from another source. However, the cash benefit for accidental death and disability will not be affected by other insurance covers.

I suffered an injury when riding on a motorcycle as a passenger. Can I be covered under AccidentSurance?

No, AccidentSurance excludes accidental injury or accidental death directly or indirectly caused by or resulting from motorcycling and other listed hazardous activities.

Does AccidentSurance cover acupuncture, Chinese herbal treatment and dental treatment costs?

The insurance plan provides cover for Chinese bonesetter expenses and emergency dental treatment caused by accidental injury to sound natural teeth only, but does not cover the cost of acupuncture and Chinese herbal treatment.

Is the premium guaranteed to remain unchanged?

The premium depends on the coverage options (Self, Self & Spouse, Self & Children, Self & Family) and plan level (Plan 1 / Plan 2), and generally does not increase with age or be affected by your health condition. However, we reserve the right to adjust premiums for particular categories of insured persons if considered to be necessary. We will, however, give you sufficient written notification in advance.

How can I manage my policy?

You can call 2867 8678 should you have any queries about your policy, or manage your policy at ease by e-Policy Servicing after logging on to HSBC Internet Banking if you are a HSBC internet banking customer. This online service provides you with 24-hour access to your policy details and allows you to submit policy service requests without hassle.

Will the damage of the electrical machines be covered?

Damage to any electrical machine or apparatus arising from its own over-running, excessive pressure, short-circuiting, self-heating, arcing or leakage of electricity arising from whatever cause (lightning included) will not be covered under this Policy.

Can I still apply the Fire Insurance if my mortgage loan is not with HSBC?

Fire Insurance is underwritten by AXA General Insurance Hong Kong Limited which is authorised and regulated by the Insurance Authority of the Hong Kong SAR. The Hongkong and Shanghai Banking Corporation Limited is registered in accordance with the Insurance Ordinance as an insurance agent of AXA General Insurance Hong Kong Limited for distribution of general insurance products in the Hong Kong SAR. This Policy will still be accepted even your home mortgage loan is not provided by HSBC.

How can I manage my insurance policy?

You can call Insurance Service Hotline at (852)2867 8678 should you have any queries about your policy, or manage your policy at ease by e-Policy Servicing after logging on to HSBC Internet Banking if you are a HSBC internet banking customer. This online service provides you with 24-hour access to your policy details and allows you to submit policy service requests without hassle.

Is the premium guarantee to remain unchanged?

The premium of Fire Insurance depends on the sum insured amount and plan chosen which is not guarantee to remain unchanged. AXA General Insurance Hong Kong Limited reserves the rights to adjust premiums for particular categories of the insured home if considered to be necessary. AXA General Insurance Hong Kong Limited will, however, give you sufficient written notification in advance.

My property is more than 40 years of age, does it fulfill the application requirement?

Underwriting will be required if the age of property is 40 years old or above.

I'm the owner of a Café located in a building, can I apply the Fire Insurance for my cafe?

The insured property must not be used for any commercial purposes and is situated in a permanent residential building in Hong Kong SAR.

I'm the tenant of my apartment, can I apply Fire Insurance for this property?

Under this Policy, you must be/will be the legal owner of this insured property by the Policy Commencement Date, the tenant of the property does not qualified and does not need to apply this Policy.

I already have a Home Insurance Policy, do I still need the Fire Insurance?

These two policies are different. Home Insurance protects household contents inside the house, such as furniture, electrical appliances, improved fixtures and fittings, etc, and personal belongings that you take when you're out of home. 
Fire Insurance covers the building structure such as walls, windows, ceiling, floor, pipes and the property's original fixtures and fittings. Fire Insurance claims can be made for damage caused by fire and other named perils such as typhoon and landslide, explosion, etc. Therefore, the covers are complementary. If you need comprehensive protection, you may consider buying both insurance policies.

How much of the sum insured I should purchase for this Policy?

The insured can select the original mortgage loan value, property reinstatement cost, or current mortgage loan value as the sum insured for the fire insurance policy. If the insured has chosen the property reinstatement cost option, the insurance coverage will be subject to change according to the annual property valuation. The policy is subject to a minimum non-refundable premium of HKD 400.

Can my foreign domestic helper get covered under HelperShield Insurance for his/her bodily injury and sickness sustained before the policy inception date?

Any claim arising from pre-existing condition for which the Insured Helper had received medical treatment, diagnosis, consultation or prescribed drugs prior to this Period of Insurance is excluded. 

For Sections 2 - Hospital Expenses, Section 3 – Clinical Expenses, Section 4 – Dental Expenses and Section 8 – Service Interruption Allowance, we do not cover for the bodily injury, sickness or disease sustained by the foreign domestic helper before inception of the policy and resulting in medical treatment received within 3 consecutive months immediately before inception of the policy, but if no medical treatment is incurred on such bodily injury, sickness or disease within 3 consecutive months immediately after inception of the policy, benefits under those sections shall subsequently become effective. In addition, items or events listed in the exclusions are not covered throughout the period of insurance. Please refer to the policy for full details of the exclusions.  

Will HelperShield Insurance cover my liability to medical expense and repatriation expense  incurred by my foreign domestic helper who sustains the bodily injury or sickness on his/her "day- off" within Hong Kong SAR?

According to Labour Department, an employer needs to provide free treatment for his/her foreign domestic helper within HKSAR, whether or not the helper's bodily injury or sickness is attributed to his/her work. The medical expenses incurred by the foreign domestic helper within Hong Kong SAR during the period of insurance will be covered under Section 2- Hospital Expenses, Section 3 – Clinical Expenses of HelperShield Insurance and Section 6 – Repatriation Expenses.

In the event of the insured foreign domestic helper's death or the foreign domestic helper is being certified by a qualified and licensed / registered medical practitioner of western medicine as medically unfit to complete the term of contract of employment as a result of sickness or bodily injury, AXA will reimburse the insured the necessary and reasonable expenses actually incurred in repatriating the foreign domestic helper under Section 6 – Repatriation Expenses.

I employ multiple local (part-time) domestic helpers who work for me at the same time slots within a day, can I buy only one single policy of HelperShield Insurance cover all of the helpers?

No, you are required to buy multiple HelperShield policies because one policy only covers one local (part time) domestic helper who work for you at the same time slots within a day. However, if you employ different local (part time) domestic helpers who work for you at different time slots at the same place of employment within the period of insurance, one HelperShield Insurance policy can cover all of them.

Do I need to bear any policy excess?

Excess means the amount of each claim payable by you, for any loss or series of losses arising from one source or cause. Some sections of the policy require excess:

• Section 2 - Hospital expenses: the first HKD300 per hospital admission
• Section 7 - Replacement of helper expenses: the first 3 months of the employment or the period for employment agency to replace the Foreign Domestic Helper at no service  fee, whichever is the longer(not applicable for the reason of repatriation).
• Section 8 - Service interruption allowance: the first 3 consecutive days of hospitalisation as an inpatient
• Section 10 – Personal liability: the first HKD500 for third party property damage
• Section 12 – Personal effects: the first HKD300 in each and every claim
• Optional cover- Supplementary medical (critical illness) benefit: the first HKD300 as a result of cancer

How to make claims? Who can make a claim?

The policyholder shall give AXA notice in writing immediately of any occurrence likely to give rise to a claim. A detailed statement in writing describing the occurrence should be given to AXA within 30 days of any occurrence that is likely to give rise to a claim under HelperShield Insurance. You may download the claim form at: https://www.hsbc.com.hk/insurance/forms/#claim-forms.  You may submit a claim online anytime or call our claims hotline on (852) 2867 8678 (9:00am to 6:00pm, Monday to Friday and 9:00am to 1:00pm Saturday, except public holiday) should you require any help.

How can I renew my HelperShield Insurance policy?

The policy of foreign domestic helper/local (part-time) domestic helper is renewed automatically in accordance with the terms and conditions of the policy and up to the age of 64 years old of the insured helper.  We will debit  your designated HSBC credit card which you provided in your application to collect the premium and levy^ for policy renewal. A renewal letter will be sent to you before the policy renewal date.

^ Levy collected by the Insurance Authority  has been imposed on this policy at the applicable rate. For further information, please visit www.axa.com.hk/ia-levy or contact AXA at (852) 2867 8678.

As an existing Helper Insurance's policyholder,  can I now instead change to buying a HelperShield Insurance?

AXA insures the helper under one policy of similar nature. You may apply for HelperShield Insurance when the existing Helper Insurance policy is expired.

How will AXA inform me if AXA have to cancel my HelperShield Insurance policy? What is the cancellation effective day and is there any premium refund?

AXA will give notice of cancellation/termination of your HelperShield Insurance policy to you at AXA's last known corresponding address by mail, or merely by electronic means (such as email at your last known email address or SMS message at your last known mobile number), such cancellation/termination shall become effective from the 7th day after such notice has been issued. In such event, AXA will return a proportionate part of the premium, provided there has been no claim for the policy.

What is the waiting period?

Medical insurance normally has a term "waiting period" which means no coverage on any illnesses will be offered during that period. To provide you with instant protection, our HospitalSurance does not have waiting period. However, for illnesses that are identified as exclusion at the inception of policy will not be covered at any time within the policy period.

Why is hospitalisation covered only if there is treatment involved?

The plan aims to cover those who are hospitalised due to sickness or injuries and therefore treatment must be involved.

Can I claim my surgical expenses if they have been fully reimbursed by my employer or another insurance policy?

If your surgical expenses have been fully reimbursed by a third party, you will not receive further reimbursement from HospitalSurance under surgical benefit. However, you are still entitled to daily hospital cash benefit if you are hospitalised due to a covered medical condition.

How can I manage my insurance policy?

You can call Insurance Service Hotline at (852)2867 8678 should you have any queries about your policy, or manage your policy at ease by e-Policy Servicing after logging on to HSBC Internet Banking if you are a HSBC internet banking customer. This online service provides you with 24-hour access to your policy details and allows you to submit policy service requests without hassle.

Is medical examination required?

Applying for HospitalSurance is simple and easy. You are not required to have medical check-up which means you are free from any additional medical check-up fee.

How do I get my 30% no claim bonus?

If you have not made a claim for five consecutive years, you will receive a cash refund of 30% of the premiums you have paid. This refund will be credited automatically to the account which you have used to pay your premiums.

Does the coverage include hospitals outside Hong Kong?

If you are away from Hong Kong for less than 90 days at the time of your hospitalisation, you will be covered at any hospital anywhere in the world as long as the hospital is legally constituted and registered.

Is hospitalisation in relation to pregnancy covered under the policy?

No. Any claims in respect of pregnancy, childbirth (including diagnostic tests for pregnancy and surgical delivery), miscarriage, abortion and pre-natal or postnatal care are excluded.

How can I manage my policy?

You can call 2867 8678 should you have any queries about your policy, or manage your policy at ease by e-Policy Servicing after logging on to HSBC Internet Banking if you are a HSBC internet banking customer. This online service provides you with 24-hour access to your policy details and allows you to submit policy service requests without hassle.

Why is pre-authorisation important?

Pre-authorisation is recommended for planned medical treatments to allow you to be prepared if your treatment costs exceed the benefit limits under your policy and minimise unexpected medical expenses.

If I feel unwell and my doctor refers me to a hospital for further investigation, will this be covered by the policy?

The policy doesn't cover medical expenses arising from hospitalisation primarily for investigation or physiotherapy. For it to be an eligible claim, you must receive therapeutic treatment during the hospitalisation in addition to the investigation.

Does overseas inpatient coverage apply to emergencies only? What happens if I emigrate to another country or territory?

Treatments within the covered area are covered under hospitalisation and surgical benefits. The coverage is intended for occasional overseas visits, where different countries or territories may have different treatment costs. If you emigrate to another country or territory, you may need to see if the coverage is still adequate for you, and this is likely to depend on the country or territory you reside. As long as the insured person doesn't immigrate to US, Japan and/or any sanctioned countries or territories, the benefits under the policy shall be covered.

Is there any medical examination required prior to application?

No. You only need to complete the health declaration section of the application form for our further handling.

Do I need to settle the medical bill first and file a claim later if I am hospitalised out of AXA Signature Network?

If the treatment is conducted out of the Network, you will need to settle the medical bill first and submit claims later. Please refer to the FirstCare Plus Medical Insurance Insert for the reimbursement level available to each plan option.

How can I get the latest designated Mainland China hospitals list?

You may check the latest designated Mainland China hospital list at HSBC website or call AXA Customer Care Hotline on (852) 2867 8678, or Worldwide Emergency and Medical Helpline on (852) 2862 0199. As the designated Mainland China hospitals list may change from time to time, you are advised to confirm the availability of your selected hospital prior to admission.

What do I need to do to get reimbursement after being discharged from a public hospital?

Please send the claim form, discharge summary containing the specific diagnosis and operation plus the original receipt to us within 90 days from the date of discharge from the public hospital. If the information submitted is not adequate for us to determine the eligibility of the claim, we may ask you to provide additional information, and all fees arising from the additional information shall be at your own expenses. Please note that the Policy will not cover any expenses arising from confinement in the private ward of public hospitals in Hong Kong.

Do I need to renew the Policy before it expires each year? What if I decide to cancel the Policy?

A renewal notice will be sent to you about 45 calendar days before expiry of current policy term. If you decide not to renew the Policy, you will need to inform us in writing at least 10 business days before Policy expires, or the Policy will be renewed automatically.

How long must I stay in the hospital for a claim to be eligible?

It depends on the nature of the hospital treatment. You are required to register as an inpatient in the hospital for at least 6 consecutive hours for medically necessary treatment. No minimum period is required for confinement in connection with any emergency treatment in a hospital as a result of an emergency for the performance of a medically necessary treatment.

Will I be covered if I’m hospitalised for rehabilitation purposes?

Similar to most policies in the market, hospitalisation for rehabilitation purpose is not covered by the Policy.

Is my family member entitled to be covered under the same benefit level as I am?

Yes. The benefit level of your family member can be the same as or lower than your selected benefit level. For example, if you select Plan B - Essential, your family member can select either Plan B - Essential or Plan A - Basic.

Will I be guaranteed to renew my policy even if I have made a claim? Is the premium guaranteed unchanged?

Your policy is renewable up to 79 years old at each policy anniversary upon payment of premium on or before the premium due date and subject to the availability of the policy.

However, the premium rates are not guaranteed. Premium will be adjusted based on the attained age of the insured person on each policy anniversary. AXA reserves the right to revise the benefits, review and adjust the premium rates upon policy renewal.

Do I need to renew my policy before the policy anniversary each year? What if I decide to cancel the policy?

A renewal notice will be sent to you 45 days before the policy anniversary. If you decide not to renew the policy, you will need to inform us at least 30 days before the policy anniversary, or the policy will be renewed automatically for another year subject to the payment of the renewal premiums before the due date as determined by us.

Is there any waiting period for Cancer Care?

Yes, the waiting period is 90 days from the original commencement date of the policy or the effective date of last reinstatement (whichever is later). All benefits shall not be payable at any time under the policy for any cancer, carcinoma-in-situ and early stage cancer, diagnosed or with the signs or symptoms of which first occurred within the waiting period.

How can I manage my policy?

You can call 2867 8678 should you have any queries about your policy, or manage your policy at ease by e-Policy Servicing after logging on to HSBC Internet Banking if you are an HSBC internet banking customer. This online service provides you with 24-hour access to your policy details and allows you to submit policy service requests without hassle.

How is Special Bonus different from dividends?

Special Bonus and dividends are the non-guaranteed amounts to be declared by the Company at its absolute discretion.

Dividends, if any, are declared and credited to the policy on each policy anniversary throughout the policy term and the amount of the dividends will not change once declared.

Special Bonus, if any, is declared by the Company at the commencement of the annuity period. During the accumulation period, the Company will update you the amount of the Special Bonus, if any, on the annual statement of each policy anniversary. Such amounts as shown on the annual statement(s) may be higher or lower than those illustrated on the earlier annual statement(s) issued during the accumulation period as the actual amount of Special Bonus, if any, is only declared and becomes payable at the commencement of the annuity period.

What happens if I miss a premium payment?

There is a 30-day grace period for premium payments that are due. If you cannot make the payment by the end of the grace period and the sum of the guaranteed cash value and accumulated dividends and interest, if any, calculated as at the date immediately preceding the due date of the relevant unpaid premium is sufficient to pay the relevant unpaid premium, an automatic premium loan equivalent to the amount of the unpaid premium will be granted and applied to pay such premium. Interest will apply on the principal of all policy loans (including automatic premium loan) made under the policy and you will be advised of such rate of interest at that time, which can be adjusted by the company from time to time. Please note that the Monthly Annuity Payment will only be paid on each monthiversary during the annuity period provided that all premiums are paid when due during the premium payment period.

How much can I get back if I surrender the policy?

If you surrender the policy at any time during the accumulation period, you will receive the surrender value of the policy, which is equal to the sum of the guaranteed cash value, accumulated dividends and interest (if any), and Special Bonus² (if any), less indebtedness (if any).

If you surrender the policy at any time during the annuity period, you will receive the surrender value of the policy, which is equal to the sum of the guaranteed cash value, any accumulated Monthly Annuity Payments and any accumulated dividends and interest, less indebtedness, if any.

Please note that early surrender of the policy may result in you getting back a lesser amount than the total premiums you have paid into the policy.

²The amount of Special Bonus is not guaranteed and subjected to the Company's absolute discretion.

How is Income Goal Insurance Plan different from other pure savings plans? 

Income Goal Insurance Plan is specially designed for customers who want to have an effective plan to meet their personal goals. It differs from a pure savings plan in that it includes life insurance cover throughout the policy term and provides a stream of Monthly Annuity Payments during the annuity period. In the event of the death of life insured, the total amount that we have to pay to you in the form of guaranteed monthly annuity payment (if any) together with the amount that we will pay to the beneficiary(ies) as death proceeds is at least equal to the Total Premiums Paid¹.

¹Total Premiums Paid refers to the total amount of premiums due under the basic plan (whether or not actually paid) as of the date of death of the life insured. Please refer to the policy for detailed terms and conditions.

How can I keep track of my plan?

You will receive an annual statement showing updated policy values. You can also contact us on 2583 8000.

How much can I get back if I surrender the policy?

You may surrender (i.e. terminate) the policy at any time by submitting a written request in the form specified by the Company which is available at www.hsbc.com.hk.

Upon surrender, the policy will be terminated and you will receive the Account Value minus any applicable Surrender Charge in the first 10 policy years and any outstanding charges. Due to the deduction of policy charges and Surrender Charge, the amount you get back may be significantly less than what you have paid.

Will my coverage under Goal Access Universal Life Plan (Protection) end before reaching age 99?

In order to keep the policy in force, you must pay all Planned Premiums and any supplementary benefit premiums when due and the Account Value must be sufficient to cover the policy charges. Your policy will lapse when the Account Value is not sufficient to cover policy charges for 45 consecutive days or when Planned Premium and any supplementary benefit premiums have been overdue for 65 consecutive days.

To avoid policy lapses, you should pay all Planned Premiums and any supplementary benefit premiums when due and ensure that the Account Value is sufficient to cover the policy charges. Should you fulfil the criteria mentioned above, the policy will mature at the policy anniversary at which the life insured's age next birthday is 99.

Can I pay premium into the plan anytime?

The plan consists of the following premium types: Planned Premium and Unscheduled Premium.

Planned Premium - all Planned Premium must be paid in accordance with the premium payment period selected upon policy application. The policy will lapse when the Planned Premium and any supplementary benefit premiums have been overdue for 65 consecutive days.

Planned Premium is determined according to the age and gender of the life insured, sum insured, payment term, policy currency and a variety of health and lifestyle factors.

Unscheduled Premium - you can contribute Unscheduled Premium to the policy while the policy is in force. You can choose the amount of Unscheduled Premium to contribute, subject to a minimum amount of USD625 per transaction, which may be changed by the Company from time to time. The acceptance of the Unscheduled Premium is at the Company's discretion.

Both the Planned Premium and Unscheduled Premium will be allocated to Account Value after deduction of Policy Premium Charge. Should there be supplementary benefits attached to the policy, the premiums for such supplementary benefits will also be allocated to Account Value after deduction of Policy Premium Charge.

How is Goal Access Universal Life Plan (Protection) different from other insurance plans?

Goal Access Universal Life Plan (Protection) is specially designed for customers who want to have an insurance plan to meet their protection and legacy planning needs with a high degree of flexibility. Not only it offers protection and great flexibility in growing and managing your savings, but also it allows you to adjust your sum insured to meet your changing needs over time.

Is my child's coverage under Goal Access Universal Life Plan (Education) guaranteed to last till age 22?

In order to keep the policy in force, you must pay all Planned Premiums when due and the Account Value must be sufficient to support the policy charges. Your policy will lapse when the Account Value is not sufficient to cover policy charges for 45 consecutive days or when Planned Premium has been overdue for 65 consecutive days. To avoid policy lapses, you should pay all Planned Premiums when due and ensure that the Account Value is sufficient to cover the policy charges. Should you fulfil the criteria mentioned above, the policy will mature at the policy anniversary at which the insured's age next birthday is 22.

Can I pay premium into the plan anytime?

The plan consists of the following premium types: Planned Premium and Unscheduled Premium.

Planned Premium - all Planned Premium must be paid in accordance with the premium payment period selected upon policy application.

The policy will lapse when the Planned Premium and any optional supplementary benefit premiums have been overdue for 65 consecutive days.

Planned Premium is determined according to the age and gender of the life insured, sum insured, payment term, policy currency and a variety of health and lifestyle factors.

Unscheduled Premium - you can contribute Unscheduled Premium to the policy while the policy is in force. You can choose the amount of Unscheduled Premium to contribute, subject to a minimum amount of USD625 per transaction, which may be changed by the Company from time to time. The acceptance of the Unscheduled Premium is at the Company's discretion.

Both the Planned Premium and Unscheduled Premium will be allocated to Account Value after deduction of Policy Premium Charge.

When can I withdraw from my policy? Are there any requirements, restriction and charges involved?

If you need money to cope with any unexpected or planned life events, for a regular premium policy, you can withdraw from the policy account after the end of the premium payment period. For a single premium policy, you can withdraw from the policy account on or after the first policy anniversary. Withdrawals are subject to (i) a Surrender Charge applicable in the first 8 policy years ranging from 1% to 55% depending on the policy year and premium payment period; (ii) a minimum amount of USD625 per withdrawal; and (iii) a minimum Account Value balance of USD2,500 after withdrawal.

Withdrawals will reduce the Account Value which may reduce the Death Benefit and increase the chance of policy lapses. The policy will lapse when the Account Value is not sufficient to cover the policy charges for 45 consecutive days.

How much can I get back if I surrender the policy?

You may surrender (i.e. terminate) the policy at any time by submitting a written request in the form specified by the Company which is available at www.hsbc.com.hk.

Upon surrender, the policy will be terminated and you will receive the Account Value minus any applicable Surrender Charge in the first 8 policy years and any outstanding charges. Due to the deduction of policy charges and Surrender Charge, the amount you get back may be significantly less than what you have paid.

How can I keep track of my plan?

You will receive quarterly statements showing updated Account Values. You can also contact us on 2583 8000.

How can I review my mortgage balance and my plan's coverage?

You can call our insurance hotline 2583 8000 or go to our branch for enquiries.

What happens to my policy if I change my mortgage by topping up or extending the term of my mortgage?

If you decide to top up or extend your mortgage, please re-assess if your coverage is sufficient and you may choose to increase the sum insured of the plan or cancel the existing plan to make another new application in order to meet your protection need.

If the mortgage balance is lowered, should my premium payments go down as well?

The plan is designed with level premium, so the same premium will maintain throughout the policy term with no change even when the mortgage balance is reduced. The sum insured under your policy decreases annually in accordance with policy term. The sum insured may not match with the outstanding mortgage amount as the decreasing rate of the sum insured may not be equal to the rate of your mortgage.

If my mortgage protection policy is in joint names, are both parties required to sign on any changes to policy?

Any change to your joint named mortgage protection policy must be signed and agreed by both joint named parties.

Can I convert this plan to another life policy after my mortgage loan completed or the property was sold out?

You can enjoy Conversion Privilege when the Life Insured’s Insurance Age is less than 60.Mortgage Protection Plan guarantees that you can convert the policy into a new whole life or an endowment insurance plan with no underwriting. For terms and conditions of the Conversion Privilege, please refer to the provisions for details.

What happens at the end of my policy?

When your policy reaches one month before the maturity, we’ll mail a maturity pre-notice to you regarding the date of the maturity. You can choose your payment option and the currency you would like to receive your maturity benefit in. When the maturity payment is settled, we’ll mail a Maturity Payment Letter to confirm the payment.

Can I change my mind?

Yes, you can. Each policy includes a cooling-off period during which you have the right to cancel the policy and obtain a full refund. The period refers to the earlier of the following:

• 21 calendar days after the delivery of your policy
• 21 calendar days after the delivery of a notice informing you about the availability of your policy

To cancel your policy, you can mail a signed written notice together with your policy to the following address within the cooling-off period:

HSBC Life (International) Limited
18/F, Tower 1, HSBC Centre,
1 Sham Mong Road,
Kowloon, Hong Kong

If your cooling-off period has expired and you want to cancel it before the end of your policy term, the refund you receive may be less than the total premiums you have paid.

How can I make a claim?

You can call us on (852) 3128 0122 and we can assist you in preparing your claim requests. You can visit our Claims and Assistance Services page for more details.

When does my policy become effective?

Once your application is approved, you'll be covered by your HSBC Swift Save Insurance Plan starting from the date when you submit your application.

I pay my premiums by autopay. What should I do if I want to change the account I use for making the payments?

You can fill in the Change of Premium Instruction form and mail it to the following address:

HSBC Life (International) Limited
18/F, Tower 1, HSBC Centre,
1 Sham Mong Road,
Kowloon, Hong Kong

You can also visit My Insurance homepage to update your autopay settings.

If you have any questions, you can also call us at (852) 2233 3130.

How can I update my correspondence address?

You can update your address by filling in the Change of Customer Information form or call our customer service hotline to receive the forms via fax.

The form can be submitted to your nearest HSBC branch or mailed to the following address:

HSBC Life (International) Limited
18/F, Tower 1, HSBC Centre,
1 Sham Mong Road,
Kowloon, Hong Kong

What happens if I miss a premium payment?

There is a 30-day grace period for premium payments that are due. If you can't make the payment by the end of the grace period, the policy will lapse with effect from the due date of the first unpaid premium.

What are the risks associated with this product?

In the case that you have to surrender your policy in the early years, you may receive an amount significantly less than the premiums paid. If you have chosen the aggregate premium payment option, we'll apply a surrender charge on the balance of the pre-paid premiums together with interest accumulated upon your policy surrenders.

When reviewing the numbers in the illustration summary, please note that the cost of living in the future is likely to be higher than today due to inflation.

You'll be subject to the credit risk of HSBC Life (International) Limited and your premiums paid will form part of HSBC Life (International) Limited’s assets. You do not have any rights or ownership over any of these assets. Your recourse is against HSBC Life (International) Limited only. Please refer to the product brochure for more details.

What happens if my application is not successful and the first payment is already debited from my account?

You'll be notified via SMS if your application is not successful. The first payment will then be refunded within 3 business days to your account from which the payment has been made.

What if I have question about my application?

Contact us using our Live Chat service on HSBC website or Chat with us service on the HSBC HK Mobile Banking app if you have any questions about your application. Live Chat is available from 10:30am to 10pm, Monday to Friday (except public holidays). Or you can send an email to dfv.enquiry@hsbc.com.hk for further assistance.

Any notice will be sent to customers on coverage details?

The Coverage details and its Coverage Effective Date will usually be sent to 1) the Eligible Customer’s latest email address maintained in HSBC’s record; and 2) via the HSBC HK App Push Notification and In-app banner, after customer successfully opened / upgraded to HSBC One.

Do I need to cancel the policy when the coverage period ends? Will there be automatic deduction for renewal when the coverage period ends?

The plan will be automatically cancelled after the coverage period ends and no money will be deducted from your account for renewal. Of course, you can always seek our one-to-one guidance to help you find the right plan to continue your coverage.

How to make a claim?

Go to the Insurance Forms & Documents > Claim Forms > Claims for HSBC One cancer coverage to download the claim form and choose one of the following methods:

• Email to claims@hsbc.com.hk; or
• Upload to Upload Documents (please enter policy number 00000001).

For any claim related enquiries, please call our HSBC Life Claims Hotline at (852) 3128 0122.

Where can I find out more about the cancer coverage?

Feel free to chat with us via LiveChat or call us at (852) 2233 3000. You can also find detailed terms and conditions here.