... insured event has occurred, no claims will be accepted. The coverage, benefit limit, exclusions and premium levels of travel insurance products offered by insurers vary. Travellers must understand the policy details and the terms and conditions clearly before taking out a policy and choose a...

... Property Damage business resulting from the absence of any major typhoons. As at 31 December 2019, gross and net claims incurred by authorized insurers due to the social events were HK$1,292 million and HK$411 million respectively. Premium growth was mainly driven by the growth in Property Damage business...

... willing to bear the investment risk should ILAS be recommended. 3 4.6 Suitability assessment includes assessing the investment horizon of client, with due regard to the financial circumstances, planned retirement age etc. 4.6.1 Premium payment term – The client’s age at the time of policy inception as...

... understands and accepts the highlighted features of the product. (b) The customer and the licensed insurance intermediary must sign and date the declaration in “Section II: Affordability Declaration” under the Applicant’s Declarations for a policy in respect of which regular premium payments are required. (c...

... understands and accepts the highlighted features of the product. (b) The customer and the licensed insurance intermediary must sign and date the declaration in “Section II: Affordability Declaration” under the Applicant’s Declarations for a policy in respect of which regular premium payments are required. (c...

... understands and accepts the highlighted features of the product. (b) The customer and the licensed insurance intermediary must sign and date the declaration in “Section II: Affordability Declaration” under the Applicant’s Declarations for a policy in respect of which regular premium payments are required. (c...

... product risks in the interest of customers, including the areas (where applicable) below: (a) Key exclusion – The insurers should disclose key exclusion of the policy in the product brochure and marketing materials alongside description of policy coverage. (b) Premium adjustment – If the insurer has the...

...%), accounting for 26.4% of the total new office premiums for individual business.  Among these new policies, about 96% were medical or protective in nature, such as critical illness, medical, whole life, term life and annuity products. In terms of premium payment pattern, about 99% of the policies were...

... increase in investment (single or regular premium) but does not include increase in premiums for addition or variation of non-ILAS riders (e.g. term, critical illness, accidental death benefits etc). 4.4 Important Facts Statement and Applicant’s Declaration Every application (new or top-up) for an ILAS...

... applies to: (a) an authorized insurer incorporated in Hong Kong; (b) an authorized insurer incorporated outside Hong Kong if (i) 75% or more of its annual gross premium income for general business pertains to Hong Kong insurance business; or (ii) 75% or more of its annual gross premium income for long...