FortuneLife Deferred Annuity Life Insurance Plan

FortuneLife Deferred Annuity Life Insurance Plan (“the Plan”) is a life insurance plan and is not equivalent or similar to any kind of bank deposit. It is underwritten by Hang Seng Insurance Company Limited (“Hang Seng Insurance”). The policyholder is subject to the credit risk of Hang Seng Insurance and early surrender loss. The information of this page does not contain the full terms of the policy and the full terms can be found in the relevant policy document.

Important Information about QDAP

Certification of QDAP - “The Plan” has been certified by the Insurance Authority (“IA”) as a Qualifying Deferred Annuity Policy (“QDAP”). The IA certification of this plan is not a recommendation or endorsement of the Policy nor does it guarantee the commercial merits of the Policy or its performance. It does not mean the Policy is suitable for all Policyholders nor is it an endorsement of its suitability for any particular Policyholder or class of Policyholders. The Policy has been certified by the IA but such certification does not imply official recommendation. The IA does not take any responsibility for the contents of the product, makes no representation as to its accuracy or completeness, expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of the product.
Tax Implication on QDAP - Please note that the QDAP status of this product does not necessarily mean you are eligible for tax deduction available for QDAP premiums paid. This product’s QDAP status is based on the features of the product as well as certification by the IA and not the facts of your own situation. You must also meet all the eligibility requirements set out under the Inland Revenue Ordinance and any guidance issued by the Inland Revenue Department of HKSAR before you can claim these tax deductions. Please note that the Plan may be sold to the person(s) aged 65 or above, who may have plan to retire or retired during the premium payment period of the Plan. In this case, you may wish to further visit your eligibility of tax deduction for your premiums paid during the premium payment period and seek your independent tax advice as appropriate. Policyholders who are not subject to salaries tax or tax under personal assessment in HKSAR might not be eligible for tax deduction benefits. Any general tax information provided is for your reference only, and you should not make any tax-related decisions based on such information alone. Please note that the amount of net premium due, paid and qualified for tax deduction purpose does not include levy and is after deducting any marketing offers (e.g. premium discount, premium waiver, and extra credit card reward points (including +FUN Dollars, yuu Points, and other gift and reward with similar nature) under tactical programs), and the actual tax benefits of this policy would depend on personal tax position (e.g. salaries income and assessable profits). You should always consult with a professional tax advisor if you have any doubts. Please note that the tax law, regulations or interpretations are subject to change and may affect related tax benefits including the eligibility criteria for tax deduction. We do not take any responsibility to inform you about any changes in the laws and regulations or interpretations, and how they may affect you. Further information on tax concessions applicable to QDAP may be found at the website of Insurance Authority.

FortuneLife Deferred Annuity Life Insurance Plan, offers you with plan options of various policy currency, premium payment term, accumulation period and annuity period⁴, etc. which cater different retirement plan and financial goals, and brings you different potential returns. Together with incremental annuity income¹, the plan empowers you to maintain a stable income after retirement to enjoy life. Life protection is also included to provide an extra layer of protection for your family. At the same time, you can apply for Tax Deductions* for Qualifying Annuity Premiums.

Plan Highlights & Details

Passive long-term stable income stream with Incremental Annuity Income¹

Various plan options that offer you different potential return⁺

Apply for up to HKD60,000 total tax deduction per assessment year with the qualifying annuity premiums. The tax saved within each assessment year can be up to HKD10,200 per taxpayer per tax year^2*

Annual Dividends³ enhance your wealth

Extended Various Supplementary Benefits

Easy take-up with Guaranteed Acceptance⁶

Learn More

⁺The above is the Internal Rate of Returns (IRR) reference for a 45-year-old male non-smoker. Under the assumption that the Annuity Income⁵ and Annual Dividends payable³ during the Annuity Period⁴ are all withdrawn, at policy maturity, the projected total IRR is 3.79% - 4.35% while the guaranteed IRR is 1.90%- 2.65% for HKD/USD policy ; the projected total IRR is 2.60% - 3.19% while the guaranteed IRR is 0.44% -1.27% for RMB policy. The total rate of return is non-guaranteed, and IRR is subject to the selected premium payment mode, payment term, accumulation period, annuity period⁴ and annuity income⁵ option. The IRR are covered both monthly payment and annual payment. The examples are provided only for reference and should not be regarded as a substitute for professional advice. The actual coverage is subject to the terms and conditions of the Policy. Customers should take into account their own actual circumstances and insurance needs and affordability before considering enrolling in this Plan. Figures are subject to rounding differences. For more details about the Internal Rate of Return, please refer to the product brochure.

Application Offer

During the promotion period, customers can enjoy up to 34% premium discount for the first year upon successful take-up^!

^The promotion period of the premium offer of the plan (USD/HKD policy) is from 1 January 2026 to March 31 2026 (both days inclusive) (“Promotion Period”). For the Terms and Conditions relating to the first-year premium discount, please click here.

*Please note that the premium discount amount applicable to the Plan is not eligible for tax deduction. Only the premium paid net of any marketing offers (eg. premium discount, premium waiver, and extra credit card reward points (including +FUN Dollars, yuu Points, and other gift and reward with similar nature) under tactical programs), and the actual tax benefits of this policy would depend on personal tax position (e.g. salaries income and assessable profits). You should always consult with a professional tax advisor if you have any doubts.

Product & Offer Terms and Conditions apply. Please note the relevant product risks , credit risk and early surrender loss.

For product information on Product Page, e.g. Product Brochure (Including detailed terms and conditions, risks and exclusions) and Notes on Participating Policy, please click here.

Visit the branch and learn more

Make an appointment

Please visit Hang Seng Bank Website >
"Insurance & MPF" > "Make an eAppointment"

Call 2198 7838

Note:

The Monthly Guaranteed Annuity Income⁵ will be increased by a fixed amount, which is equivalent to 5% of the Initial Monthly Guaranteed Annuity Income⁵, each year during the Annuity Period⁴. The incremental amount will be proportionally reduced should there be any partial surrender. Please note that the incremental amount may or may not be able to offset future inflation. You may refer to the“Product Risk – Inflation Risk” section for details.
Assumptions
- You are a Hong Kong taxpayer and have taxable income
- The "Qualifying Deferred Annuity Premium" paid by you during the year of tax assessment is HK$60,000;
- You do not have any other tax-deductible MPF voluntary contribution accounts for the year of tax assessment
- The total tax deduction for eligible annuity premiums and tax-deductible MPF voluntary contributions in the applicable year of tax assessment is HK$60,000 per taxpayer;
- The calculation is based on the taxpayer's highest tax rate of 17% in the progressive tax rate.
Tax deduction under salaries tax and personal assessment with Inland Revenue Department from premiums paid under this product shall be subject to your individual circumstances. It is also at Inland Revenue Department’s discretion when your premiums are paid over the premium payment period. For tax relevant information, please refer to the website of Inland Revenue Department (www.ird.gov.hk). Relevant promotions or premium discount amount will not be counted into the tax reduction allowance.
The Policyholder may choose to withdraw Annual Dividends in cash or accumulate them with interest. The Annual Dividend Option has to be the same as the Annuity Income⁵ Option. Annual Dividends and the interest rate used for Annual Dividends and Annuity Income⁵ accumulations are not guaranteed. Please refer to the illustration summary for prevailing interest rate.
Annuity Period refers to the period during which Annuity Income⁵ is payable. The Annuity Period of “FortuneLife” is 20 years or 30 years, subject to the plan chosen.
Annuity Income includes Monthly Guaranteed Annuity Income, Annual Guaranteed Bonus and Special Guaranteed Bonus. The Annuity Income is payable to the Annuitant during the Annuity Period⁴, until the end of the Annuity Period⁴. The Policyholder may choose to withdraw it in cash or accumulate it with interest³.
The maximum total premium amount for guaranteed acceptance (per Life Insured) may differ and is subject to the Insurance Age of the Life Insured. Total premium amount refers to the total premium amount of the Plan and other life insurance plans determined by “Hang Seng Insurance”. For details of the underwriting requirements, please contact “Hang Seng Bank” branch staff. This Plan is subject to the relevant requirements on nationality, and/or addresses of the Policyholder and/or Life Insured as determined by “Hang Seng Insurance” from time to time. “Hang Seng Insurance” reserves the right to accept or decline any applications for the Plan based on the information provided by the Life Insured and/or Policyholder during enrollment.

Disclosure of Information

The above information is a product summary of information for reference only. The Plan is intended only for sale in the Hong Kong SAR. 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 Company Limited. Please refer to the promotion leaflets/flyers and contracts for the important information such as detailed coverage, exact Terms and Conditions and exclusions of the relevant Life Insurance Plan. Please refer to the product brochure for the relevant product risks.

The above Life Insurance Plan is underwritten by Hang Seng Insurance. Hang Seng Insurance is authorised and regulated by the Insurance Authority of the HKSAR. Hang Seng Bank is an insurance agent authorised by Hang Seng Insurance Company Limited and the insurance products are the products of Hang Seng Insurance Company Limited but not Hang Seng Bank. 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 Bank 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 Company Limited and you directly. If you surrender the Policy after the expiry of the cooling-off period, the surrender proceeds to be received may be significantly less than the Total Premiums Paid. Please refer to the illustration summary of this Plan for the projected surrender values.

Note: The benefits and/or returns mentioned throughout this material are not guaranteed and for illustrative purpose only. The actual future amounts of benefits and/or returns may be lower than or higher than the currently quoted benefits and/or returns. The policyholder is subject to the credit risk of “Hang Seng Insurance”. If the policyholder discontinues and/or surrenders this policy in early policy years, the amount of benefits you will get back may be considerably less than the total premiums you have paid. All details regarding policy surrender should be referred to the relevant policy provisions.