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What is Endowment Life Insurance
Life insurance with a savings element lets you enjoy life insurance while accumulating wealth. When your policy term expires, you will receive a guaranteed cash value, helping you save and achieve your life goals easily.
Guaranteed Cash Value
Provide a Guaranteed Cash Value upon policy maturity
Affordable
Premium as low as HK$600 per month
Earn yuu Points
Earn 1 yuu Point for every HK$1 of your insurance premium paid in the first policy year
Key Features
Guaranteed Cash Value
The plans provide 2 currency options, enable the Policyholder of endowment life insurance plan to receive a Guaranteed Cash Value upon maturity and achieve the saving goal by 5 years with 2 years premium payment period at ease.​ For details of the latest annualized guaranteed rate of return, please visit the "yuu Insure" section in the yuu App.
Accidental Death Benefit
In the unfortunate event of the accidental death of the Life Insured while the policy is in force, in addition to the above Guaranteed Death Benefit, the beneficiary(ies) will receive the Accidental Death Benefit, which equals to 30% of the Total Premiums Paid under the Basic Plan less indebtedness (if any).
Unemployment Benefit
If you are unemployed for at least 30 consecutive days in the unfortunate event of dismissal by reason of redundancy while the Policy is in force, you can apply for temporary suspension of payment of the premium due to a maximum of 365 days from the first premium payment due date after unemployment. Throughout this period, the Life Insured can still enjoy all the benefits as specified in the policy. The above information is intended as a general summary of information for reference only. If you wish to know more about the plan, please read Product Brochure.
Learn more about Hang Seng 5-Year eEndowment Life Insurance Plan through the product brochure
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Frequently Asked Questions
If I choose a non-HKD policy, can I pay my premium in foreign currency?
You may choose to pay your premiums in HKD or policy currency.
Can I buy more than one Hang Seng Insurance’s 5-Year eEndowment Life Insurance Plan policy?
Yes, you may apply online for more than one Hang Seng Insurance’s 5-Year eEndowment Life Insurance Plan policy.
If you would like to apply more than one The Choice 5-Year Life Insurance Plan policy (HKD / USD) policy, please note that your total premium paidfor all life insurance plans in Hang Seng Insurance cannot exceed HK$40,000,000 or US$5,000,000.
Remark(s)
- The above information is intended as a general summary of information for reference only. If you wish to know more about the plan, please read Product Brochure for details. - Please refer to General Provisions (https://www.hangseng.com/content/dam/hase/config/bde/pws/Insurance/pdfs/endowment/IL485%20R4%200918_The%20Choice_Final.pdf) for the exact terms, conditions and exclusions of the Plan. - For procedures for making claims, please visit https://www.hangseng.com/en-hk/personal/insurance-mpf/claims/. - Eligibility • 5-Year eEndowment Life Insurance Plans are only available to tax residents of Hong Kong aged between 18 - 64, the applicant also needs to possess valid Hong Kong Identity Card and Hang Seng bank account. • Premium payment should be debited from customer’s Hang Seng Bank account. - Other point(s) to note Hang Seng Insurance is a wholly-owned subsidiary of Hang Seng Bank. The yuu Rewards Club is owned and operated by DFI Development (HK) Limited (“DFI”), a wholly-owned subsidiary of Dairy Farm International Holdings Limited. Hang Seng Bank and DFI are authorised insurance agents of Hang Seng Insurance and regulated by the Insurance Authority. The Choice 5-Year Life Insurance Plan policy (HKD /USD) are products of and underwritten by Hang Seng Insurance. 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 Hang Seng and you out of the selling process or processing of the related insurance product transaction, Hang Seng Bank will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance products should be resolved between Hang Seng Insurance and you directly. The above information is intended as a general summary of information for reference only. It shall not be construed as an offer to sell or solicitation of an offer or recommendation to purchase or sale or provision of any products of Hang Seng Insurance. Please refer to the actual policy for the exact terms, conditions and exclusions of the relevant insurance plan. 5-Year eEndowment Life Insurance Plan offers limited daily quota. New quota will be released at 12 noon every day. Hang Seng Insurance Company Limited reserves the right to accept or decline any applications subject to the plan's availability.
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