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HSBC EarlyIncome Deferred Annuity Plan

Enjoy retirement income and tax deductions.

Many see the general retirement age of 65 as something in the distant horizon. But living a longer life may no longer feel like a gift if it outpaces our ability to enjoy the lifestyle we've come to cherish.

As the countdown to your retirement continues, the time to plan ahead for a worry-free retirement is now. Our HSBC EarlyIncome Deferred annuity Plan can help you reap benefits today and tomorrow, so you can maintain the lifestyle you want.

EarlyIncome Deferred Annuity Plan is certified by the Insurance Authority as qualifying deferred annuity policy.

Enter a worry-free retirement with regular income

  • While you can receive a monthly income after just 5 years of payments, you can also opt to leave your proceeds in your plan to accumulate with interest during the annuity period.
  • Apply for a tax deduction1 of up to HKD60,000 for a particular fiscal year on premiums paid under a salaries tax and personal assessment with the Inland Revenue Department (IRD) if you're a taxpayer in Hong Kong.


HSBC EarlyIncome Deferred Annuity Plan is a long-term participating life insurance product with a savings element underwritten by HSBC Life (International) Limited. It is not equivalent or similar to any kind of bank deposit. Policyholders are subject to HSBC Life's credit risk and early surrender loss. For details, please refer to the product brochure.

  • HSBC Life - The no. 1 provider of new annuity business in Hong Kong2
    Well-placed to attend to the broad spectrum of customers’ retirement needs.

Speak with us

Book an appointment for face-to-face or video-enabled meeting:

  • (Mon to Fri: 11:00am - 7:30pm, except public holidays)

HSBC Jade and Premier customers

  • Contact your Relationship Manager

Limited time offers:

  • Get up to 12% off your first year premium
    Enjoy up to 9% off your first year premium, or up to 12% off when you apply together with our VHIS Flexi Plan. 
    Offer ends 31 December 2022. T&Cs apply.
  • Get an extra 1.5% off for first-time insurance buyer
    Enjoy an extra 1.5% off your first-year premium if you are new to insurance. Selected customers can get an extra 1% off.
    Offer ends 31 December 2022. T&Cs apply.
  • Earn up to an extra $6,000 RewardCash!
    Pay new policy’s premium to HSBC Life with HSBC Premier Mastercard® Credit Card* to enjoy the offer.
    Offer ends 31 December 2022. T&Cs apply.

Get more peace of mind with supplementary benefits

How does it work

Are you eligible?

To apply, you need to:

  • be aged4 between 46 and 70 years (depending on the annuity period selected)
  • meet our criteria for nationality (country/region/territory), address and residency (subject to change at the time of your application)

Additional information

You may also be interested in

A family is riding horses; image used for HSBC Income Goal Deferred Annuity Plan page.

Pay for 5 or 10 years and receive a monthly retirement income for 10, 15 or 20 years after the accumulation period and a potential tax deduction in Hong Kong.

T&Cs apply.


Receive monthly annuity payments after the accumulation period and paying premiums for 3 years. Enjoy an annuity period of up to 25 years or age 99, with a choice of adding Dementia Protection to your policy.

T&Cs apply.

A couple are watching the computer; image used for Savings insurance plans.

Explore the list of plans to help you on saving and prepare for a promising future.

The above plans are life insurance plan underwritten by HSBC Life (International) Limited. Policyholders are subject to the credit risk of HSBC Life and early surrender loss.

Manage your policy

Manage your policy online

Access your policy details anytime, anywhere on both your HSBC HK Mobile Banking app and our Personal Internet Banking webpage, so you can check your benefits and coverage, premium due dates, projected future values and much more at your fingertips.


You can also request for a dividends and/or bonus withdrawal from your policy (if applicable) and submit other service requests on our Personal Internet Banking webpage.

Make a claim

Sometimes life doesn’t go according to plan and you’ll want to make an insurance claim as soon as possible.


Simply call our Tele-Consultants at (852) 3128 0122 who will assist you in preparing your relevant claim request(s).

Important information for Qualifying Deferred Annuity Policy:

  • Tax implication of Qualifying Deferred Annuity Insurance Policy - The Qualifying Deferred Annuity Policy (“QDAP”) status of Deferred EarlyIncome does not guarantee that you will be eligible for a tax deduction for QDAP premiums you have paid. Deferred EarlyIncome’s QDAP status is based on the features of the product as well as its certification by the Insurance Authority (“IA”); not necessarily matters regarding your personal situation. Before claiming any tax deductions, you must meet all eligibility requirements set out under the Inland Revenue Ordinance, while following the guidance issued by the Inland Revenue Department of the Hong Kong SAR. 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 actual tax benefits of this policy would depend on your personal tax position and there might not be tax deductions benefits if you are not subject to salaries tax and personal assessment in the relevant year of assessment. You should always consult with a professional tax advisor if you have any questions or doubts. Please note that the tax law, regulations and / or interpretations are subject to change and may affect any related tax benefits including the eligibility criteria for a tax deduction. The Company is not responsible for informing you about any changes in laws, regulations or interpretations, and how they may affect you. Further information regarding tax concessions applicable to QDAP may be found at the webpage of the IA:
  • Certification of QDAP – Please note that IA’s certification 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 brochure of the policy, 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 brochure of the policy.

1 Tax deduction under salaries tax and personal assessment with Inland Revenue Department from premiums paid under Deferred EarlyIncome 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. Please refer to the “Key Risks - Tax implication of Qualifying Deferred Annuity Insurance Policy” section in respective Product Brochure for details regarding key risk factors.

2 Source: Annual Statistics for Long-term Business 2020 issued by the Insurance Authority (Individual Insurers' Statistics: Total Individual Annuity New Business)

3 Additional Accidental Death Benefit and Terminal Illness Benefit will terminate when the Life Insured attains the age4 of 80 or 65 respectively or payout of the relevant benefits or the Policy is terminated (whichever is earlier). Your policy will terminate once we pay this benefit.

4 We consider your age to be how old you are on your next birthday. So, if you are 54 with a birthday in 6 months’ time, we consider you to be 55.

5 Total premium 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 Provisions for detailed terms and conditions.

6 Unemployment Benefit is applicable to policyholder age4 between 41 and 64 who is the holder of the Hong Kong Identity Card. The benefit will terminate on the policy anniversary at which the policyholder attains the age4 of 65 or all due premiums have been paid or your policy is terminated (whichever is the earliest).

*To borrow or not to borrow? Borrow only if you can repay!



HSBC EarlyIncome Deferred Annuity Plan is a life insurance plan underwritten by HSBC Life (International) Limited (“HSBC Life”) which is authorised and regulated by the Insurance Authority ("IA") to carry on long-term insurance business in the Hong Kong SAR. Please refer to the product brochure for detailed features and the policy provisions for the detailed terms and conditions.

HSBC Life is incorporated in Bermuda with limited liability, and is one of the HSBC Group's insurance underwriting subsidiaries. The Hongkong and Shanghai Banking Corporation Limited ('HSBC') is registered in accordance with the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong) as an insurance agent authorised by HSBC Life. This product is a product of HSBC Life but not HSBC and it is intended only for sale through HSBC in the Hong Kong SAR. Your benefit is subject to the credit risk of HSBC Life.  If the policyholder discontinues and / or surrenders the insurance plan in the early policy years, the amount of the benefit he / she will get back may be considerably less than the amount of the premium he / she has paid.  Your premiums paid will form part of HSBC Life's assets. You do not have any rights or ownership over any of those assets. Your recourse is against HSBC Life only.

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 HSBC and you out of the selling process or processing of the related transaction, HSBC is required to enter into a Financial Dispute Resolution Scheme process with you; however, any dispute over the contractual terms of the above insurance product should be resolved between HSBC Life and you directly.