Retire-at-Ease II Deferred Annuity Plan

^* Age means age of the Life Insured at the last birthday

¹ Please refer to the website of the Inland Revenue Department ("IRD") or contact the IRD directly for any tax related enquiries. You may also seek independent and professional advice from your tax and accounting advisors.

² Terminal Dividend is not guaranteed and may be changed from time to time. Past performance is not indicative of future performance. The actual amount payable may be higher or lower than those illustrated in the Insurance Proposal.

³ The Annuitant means an individual being entitled to receive the Monthly Annuity Payment and Guaranteed Bonus (only applicable to Up To Age 100 Option) payable under the Plan. The Annuitant, Policyowner and the Life Insured of the Plan must be the same individual.

Retire-at-Ease II Deferred Annuity Plan is the product underwritten by Hong Kong Life Insurance Limited (“Insurer”) but not by OCBC Bank (Hong Kong) Limited (“Bank”). The Bank is registered in accordance with the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong) as an insurance agency and is the authorised insurance agency of the Insurer for distribution of the insurance plan in Hong Kong Special Administrative Region(“HKSAR”). The insurance plan is authorised and regulated by the Insurance Authority of HKSAR. The Insurer will be responsible for providing your insurance coverage and handling claims under the insurance plan.

The information, examples and materials contained in this webpage are provided for reference only and do not provide any suggestion or recommendation of any insurance product nor constitute any part of the related insurance policy. You should not rely solely on this webpage to make decisions on applying for the insurance product. Before applying for any insurance plan, you should read carefully and fully understand the leaflet, proposal and policy provisions of the relevant plan (including but not limited to terms and conditions, coverage, exclusions and risk disclosures), and when necessary, you should also seek independent and professional advice before making any decision.

Tax Implication on QDAP
Please note that the QDAP status of this product does not necessarily mean you are eligible for the 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 Insurance Authority 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. In particular, there may not be tax deduction benefits for retired Policyowners who are not subject to salaries tax or tax under personal assessment. 

Any general tax information provided is for your reference only, and you should not make any tax-related decisions based on such information alone. You should always consult with a professional tax advisor if you have any doubts. Please note that tax law, regulations or interpretations are subject to change and may affect related tax benefits including the eligibility criteria for tax deduction. Hong Kong Life does 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 in Insurance Authority’s website at www.ia.org.hk. 

Certification of QDAP by Insurance Authority 
The Insurance Authority 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 Policyowners nor is it an endorsement of its suitability for any particular Policyowner or class of Policyowners. The policy has been certified by the Insurance Authority but such certification does not imply official recommendation. The Insurance Authority does not take any responsibility for the contents of the product leaflet 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.