Life Insurance Hong Kong – All need To Know

Life insurance Hong Kong is offered by major reputable insurance companies who offer both a personal or online quotation service to suit your individual preference. These companies deliver the most competitive, comprehensive, and affordable insurance solutions to safeguard you, your family, and your business to save you time and money.

About Life Insurance

It is very important to know that life insurance is an absolute must for everybody who has others who are depending on them and their income. Also, those with debt also need one, to avoid putting their dependents under stress when they die.

Life Insurance Plans in Hong Kong

Life insurance companies in Hong Kong offer a wide range of comprehensive Hong Kong Life Insurance Options from leading Hong Kong life insurance companies. These plans includes;

  • Term Life Insurance
  • Whole of Life Insurance
  • Group and Key Man Life Insurance
  • Non Traditional Life Insurance.

Term Life Insurance in Hong Kong

A basic Hong Kong term life insurance, offers a beneficiary payment if you die during a specific time frame. If you purchase a term life policy in Hong Kong, you get to choose a length of time for which the policy will be active for.

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It may be 5, 10, 20, or 30 years. If you happen to die during the time which the policy is active, then your dependents, receive a lump sum payment.

Term life insurance Hong Kong, basically only provides death protection, and cannot usually be extended with additional benefits.

Non-Traditional Hong Kong Life Insurance

Non-Traditional life policy products includes plans for Universal Life Insurance and Annually Products.

Group Life Insurance and Key Man Protection in Hong Kong

If a key member of staff suddenly dies, be it through sickness or an accident, a business can experience a number of challenges while trying to replace that employee.

This is where Group Life Insurance and Key Man Protection in Hong Kong comes into play. It is designed to be a flexible solution against losing pivotal employees as a result of death.

These policies, offer financial compensation in the event of a staff member’s untimely death and enable the business to cover the gaps of their loss and keep up with operations while at the same time trying to carry on without that individual.

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Whole of Life Insurance in Hong Kong

Whole of life insurance in Hong Kong safeguards you against your risk of dying unexpectedly over the course of your entire life. If you happen to die, this policy plays a role by providing a payout for your family or the named beneficiaries you have chosen on your policy.

Apart from the lump sum settlement your dependents get in the event where you happen to die unexpectedly, a Hong Kong Whole of Life insurance plan, can normally be customized to include a range of additional coverage benefits, like Personal Accident, Disability Income, and even Savings options with guaranteed returns.

Thus, Hong Kong Whole of Life Insurance policy not only ensures that your dependents have the support needed after your demise, but can also help you save for your retirement or children’s college education.

If you happen to cancel a Whole of Life Insurance policy in Hong Kong, most of these plans will have accumulated a cash value which you are entitled to get when you close the policy down.

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