Income Deferred Annuity Plan | Saving & Retirement

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Savings and retirement
Income Deferred Annuity Plan

Retire worry-free with monthly income

Enjoy financial peace of mind in your retirement with a combination of payment and annuity options, and tax savings[@taxdeduction] on premiums paid during premium payment period.

HSBC Income Goal Deferred Annuity Plan is underwritten by HSBC Life, Hong Kong's no.1 provider of new annuity business[@no1annuityprovider], and certified by the Insurance Authority as a qualifying deferred annuity policy (QDAP).

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Key benefits

Steady retirement income

For 10, 15, or 20 years, enjoy monthly annuity payments[@monthlyannuitypayment] that include a non-guaranteed special bonus[@specialbonus], allowing you to accumulate interest.

Tailor your plan to your needs

Choose from a stream of monthly payments or a retirement lump sum; freely switch any time during the annuity period

Enjoy tax relief

You can apply for a tax deduction[@taxdeduction] on premiums paid of up to HKD60,000 per assessment year. Learn more about tax-savings tips

Special offer – Enjoy up to a total of 17.5%¹⁰ off the annualised premium over the first 5 years

Enjoy total premium discount worth up to 17.5% of the annualised premium over the first 5 years, broken down as follows:
- 1st policy year: up to 3.5% off
- 2nd policy year: up to 3.5% off
- 3rd policy year: up to 3.5% off
- 4th policy year: up to 3.5% off
- 5th policy year: up to 3.5% off
Please note discount of premiums is not tax deductible. T&Cs apply.

How to apply

Eligibility

To apply for the HSBC Income Goal Deferred Annuity Plan, you'll need to meet both of these requirements:

be aged[@birthdaydefinition4] between 26 and 65, depending on the premium, accumulation and annuity period you select
meet our criteria for nationality (country/region/territory), address and residency—which are subject to change from time to time

The HSBC Income Goal Deferred Annuity Plan is a long-term participating life insurance product with a savings element underwritten by HSBC Life (International) Limited ("HSBC Life"). It is not equivalent or similar to a bank deposit. Policyholders are subject to HSBC Life's credit risk and early surrender loss.

Useful documents

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Policy summary
Policy summary	Key coverage
Issue age[@birthdaydefinition4]	Age 26 to 65 (Depending on premium payment period, accumulation period and annuity period selected)
Premium payment period	5 or 10 years
Accumulation period	10, 15, 20 or 25 years
Annuity period	10, 15 or 20 years
Minimum premium amount^#	HKD21,157.50 – HKD40,750 USD2,631.20 – USD4,939.20
Minimum monthly guaranteed annuity payment	Accumulation Period of 10 or 25 years: HKD1,750 / USD230 Accumulation Period of 15 years: HKD1,350 / USD180 Accumulation Period of 20 years: HKD1,250 / USD160

Policy summary
Policy summary	Issue age[@birthdaydefinition4]
Key coverage	Age 26 to 65 (Depending on premium payment period, accumulation period and annuity period selected)

Policy summary	Premium payment period
Key coverage	5 or 10 years

Policy summary	Accumulation period
Key coverage	10, 15, 20 or 25 years

Policy summary	Annuity period
Key coverage	10, 15 or 20 years

Policy summary	Minimum premium amount^#
Key coverage	HKD21,157.50 – HKD40,750 USD2,631.20 – USD4,939.20

Policy summary	Minimum monthly guaranteed annuity payment
Key coverage	Accumulation Period of 10 or 25 years: HKD1,750 / USD230 Accumulation Period of 15 years: HKD1,350 / USD180 Accumulation Period of 20 years: HKD1,250 / USD160

^# Depending on the accumulation period, annuity period and issue age of your plan.

These additional benefits will be included in the policy at no extra cost.

Additional lump sum payout for accidental death
If you pass away in an accident before the policy term ends or you reach age[@birthdaydefinition4] 80, whichever is earlier, the beneficiaries will get an extra 30% of the total premium paid[@totalbasicplanpremiumpaid2] on top of the death benefit payable as an additional accidental death benefit[@additionalaccidentaldeathbenefit5].
Pause premium payments if you're unemployed
If you are unemployed for at least 30 consecutive days before the age[@birthdaydefinition4] of 65, our unemployment benefit[@unemploymentbenefit2664] gives you an extended grace period of up to 365 days on your premium payments without affecting the insured person's full protection under the policy.

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Important information for Qualifying Deferred Annuity Policy

Tax implication of Qualifying Deferred Annuity Policy (QDAP) – While this plan carries a Qualifying Deferred Annuity Policy (QADP) status, it does not guarantee that you will be eligible for a tax deduction on QDAP premiums you have paid. This plan's QDAP status is based on its product features and Insurance Authority (“IA”) certification – not necessarily your personal situation. Before you can claim any tax deductions, you must meet all eligibility requirements set out under the Inland Revenue Ordinance and follow guidance issued by the Inland Revenue Department (IRD) of Hong Kong SAR. Any general tax information provided is for your reference only, and you should not make any tax-related decisions based solely on such information. Please note that the actual tax benefits of this policy would depend on your personal tax position. There may not be tax deduction 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. HSBC Life is not responsible for informing you about any changes in laws, regulations or interpretations, and how they may affect you. You can find more information about tax concessions applicable to QDAP on the IA website: www.ia.org.hk
Certification of Qualifying Deferred Annuity Policy (QDAP) – Please note that IA’s certification is not a recommendation or endorsement of the policy. It does not guarantee the commercial merits of the policy or its performance either. It does not mean that the policy is suitable for all policyholders, or that it is an endorsement of its suitability for any particular policyholder or class of policyholders. While the policy has been certified by the IA, it does not imply official recommendation. The IA does not take any responsibility for the contents of the offering documents of this policy, makes no representation as to its accuracy or completeness. The IA expressly disclaims any liability whatsoever for any loss arising from or reliant upon the whole or any part of the contents of the offering documents of this policy.

Notes

10. Up to 17.5% off assumes a premium discount of 3.5% each year in policy year 1 to 5, accumulating to a total discount of 17.5% of annualised premium over first 5 years.

HSBC Income Goal Deferred Annuity Plan is a long-term participating life insurance product with a savings element 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 agency of HSBC Life for the distribution of life insurance products in the Hong Kong Special Administrative Region. 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. 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 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.

HSBC Income Goal Deferred Annuity Plan