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⏭... value of the policy may be lower than the sum of the total premium paid, interest expenses incurred, handling fee (if any) and early repayment penalty, especially during the early years of a policy. You will also lose your insurance protection and may not be able to obtain the same insurance coverage...
https://www.ia.org.hk/english/premium_financing/smart_tips.html -
Date: 2024-01-18
... a statutory licensing regime within two years, to provide more comprehensive protection for policy holders. The Insurance Ordinance empowers the IA to collect a premium levy from policy holders, authorization fees from insurance companies and fees from users for specific services, with a view to...
https://www.ia.org.hk/english/infocenter/press_releases/collection_of_premium_levy_to_take_effect_on_1_January_2018.html -
Date: 2017-09-22
... Pros and cons of using premium financing Premium financing is a wealth and liquidity management tool that, in an ideal scenario, can bring various benefits to the policy holders. For example, policy holders can, through the use of leveraging and borrowing...
https://www.ia.org.hk/english/premium_financing/pros_and_cons.html -
Date: 2024-01-18
... value at the time of death; there is a minimum protection level, as stipulated in the guideline# issued by the Insurance Authority. Premium payment ▶ It can generally be paid in a single premium or by instalments. ▶ Instalments can generally be paid annually, monthly, quarterly or half-yearly. ▶ The...
https://www.ia.org.hk/english/infocenter/files/Understanding_Life_Insurance_Eng.pdf -
Date: 2021-12-14
... marine, aviation and goods-in-transit insurance. 2. Group life insurance policies with medical protection offered by employers are subject to the levy cap for general insurance policies. 1 3. “Inception date” means the date on which the first premium under the contract becomes payable. Small Levy Big...
https://www.ia.org.hk/english/infocenter/files/Small_Levy_Big_Protection_EN.pdf -
Date: 2021-12-14
... marine, aviation and goods-in-transit insurance. 2. Group life insurance policies with medical protection offered by employers are subject to the levy cap for general insurance policies. 1 3. “Inception date” means the date on which the first premium under the contract becomes payable. Small Levy Big...
https://www.ia.org.hk/english/infocenter/files/Small_Levy_Big_Protection_EN.pdf -
Date: 2022-05-24
... marine, aviation and goods-in-transit insurance. 2. Group life insurance policies with medical protection offered by employers are subject to the levy cap for general insurance policies. 1 3. “Inception date” means the date on which the first premium under the contract becomes payable. Small Levy Big...
https://www.ia.org.hk/english/infocenter/files/Small_Levy_Big_Protection_EN.pdf -
Date: 2020-06-23
... Notes on collection of Levy on Insurance Premium Important Notes Before you ProceedReturn SubmissionDownload AreaEnquiryFAQsNotes on collection of Levy on Insurance PremiumSystem Maintenance Schedule Item No....
https://www.ia.org.hk/english/portal_for_insurers/lisa/notes_on_collection_of_levy_on_insurance_premium.html -
Date: 2024-01-18
... Note on Collection of Levy on Insurance Premium (Version 1.5) Page 1 INSURANCE AUTHORITY Note on Collection of Levy on Insurance Premium (the “Note”) Revised – March 2018 INTRODUCTION The Insurance (Levy) Order (the “Order”) specifies the prescribed classes of insurance business and types of...
https://www.ia.org.hk/english/portal_for_insurers/lisa/files/notes_on_collection_of_levy_on_insurance_premium.pdf -
Date: 2019-10-23
... Premium levy rate to be adjusted on 1 April 2019 31 March 2019 In accordance with the schedule set out in the Insurance (Levy) Order under the Insurance Ordinance (Cap. 41), starting from tomorrow (1 April 2019), the premium levy rate will be...
https://www.ia.org.hk/english/infocenter/press_releases/20190331.html -
Date: 2019-03-31