The following is issued on behalf of the Hong Kong Monetary Authority:
HKMC Annuity Limited (HKMCA), a wholly-owned subsidiary of The Hong Kong Mortgage Corporation Limited, announced today (May 31) the launch of enhancement measures and promotional offer for the HKMC Annuity Plan (Plan).
The enhancement measures, which will come into effect on June 1, 2022, are applicable to both existing and new customers. Details are as follows:
- Increase in the withdrawal limit of the Special Withdrawal for Medical and Dental Expenses: The aggregate withdrawal limit of the Special Withdrawal for Medical and Dental Expenses per insured will be increased to HK$1 million from HK$300,000 or 50 per cent of the premium paid, whichever is lower, to provide more flexibility to insureds to meet their financial needs (Note 1).
- Increase in the individual premium cap: The individual premium cap of the Plan will be increased to HK$5 million, while the minimum premium amount per policy will remain at HK$50,000 to meet different customers' needs.
Furthermore, the Plan will offer a premium discount to encourage customers to turn their accumulated wealth into a lifelong, guaranteed and stable retirement income (Note 2). Eligible customers (including registered MPF or ORSO scheme members, existing "HKMC Retire 3" (Note 3) customers, as well as AMIGOS By HKMC members) who successfully apply for the Plan during the promotion period between June 1 and December 31, 2022 can enjoy a 1 per cent premium discount (Note 4).
Interested parties can call our customer service hotline at 2512 5000 or visit our website (www.hkmca.hk) to arrange a sales appointment.
Note 1: Terms and conditions apply. For details, please refer to the product brochure.
Note 2: The HKMC Annuity Plan is a life insurance product subject to terms and conditions and involves risks. The content is for reference only and does not constitute a product recommendation or invitation.
Note 3: "HKMC Retire 3" refers to the Reverse Mortgage Programme and the Policy Reverse Mortgage Programme operated by HKMC Insurance Limited (HKMCI) and the HKMC Annuity Plan underwritten by the HKMCA. The HKMCI and the HKMCA are wholly-owned subsidiaries of The Hong Kong Mortgage Corporation Limited.
Note 4: Terms and conditions apply. Please refer to the relevant promotional leaflet at www.hkmca.hk for details.
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