... 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...

... self-service insurance. If you agreed or chose to renew your policy automatically every year, your bank account or credit card will automatically be debited to pay the premium for policy renewal before the policy expires. For medical insurance, for example, age and health condition are generally considered to...

... self-service insurance. If you agreed or chose to renew your policy automatically every year, your bank account or credit card will automatically be debited to pay the premium for policy renewal before the policy expires. For medical insurance, for example, age and health condition are generally considered to...

... that the FNA, RPQ and IFS are duly completed. Member Companies must also establish a process to (i) verify whether the ILAS product sold, and key features such as the premium amount and term are considered suitable and affordable for the applicant(s) based on the information disclosed by the applicant...

... carefully. During the application process: First, you can request a quotation direct on the relevant platform. After selecting an insurance product, you can enter your personal data and answer the underwriting questions yourself, and pay the premium through the electronic payment...

... issued. (6) (6) (5) 2. The financial implication of the replacement: There is financial impact on replacing your existing policy(ies). Generally speaking the replacement cost is approximately two times the annual premium of your existing policy(ies). Please consult the insurer(s) of your existing policy...

... Methods of Obtaining Material Facts 2.2 Underwriting Procedures 2/8 2.2.1 Quotations 2.2.2 Proposal Forms 2.2.3 Issue of Cover Notes, Policies and Certificates of Insurance 2.2.4 Premium a. Method of Calculation b. Relevance of Premium Payment for Valid Cover 2.2.5 Levies a. Motor Insurers’ Bureau of Hong...