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⏭... premium contribution period. Of course, you should also set aside su�cient cash for your daily and contingency expenses. Early surrender can incur a significant loss Make sure that all your annuity premiums are paid before retirement. When choosing the income period, make sure it matches your life...
https://www.ia.org.hk/english/infocenter/files/Tips_on_Purchasing_Annuity_Products_Eng.pdf -
Date: 2020-06-23
... – Collection of CDD Information/ Documents (Cont’d) 19 Findings: Policyholders’ financial status evidence (e.g. income/ assets proofs) not required for insurance policies reaching a high premium amount (e.g. premium amount threshold set over HKD6M in some cases) Premium threshold set by most insurers only on a...
https://www.ia.org.hk/english/supervision/antimoney_laundering/files/IA_AML_findings_briefing_20180531.pdf -
Date: 2021-11-12
... – Collection of CDD Information/ Documents (Cont’d) 19 Findings: Policyholders’ financial status evidence (e.g. income/ assets proofs) not required for insurance policies reaching a high premium amount (e.g. premium amount threshold set over HKD6M in some cases) Premium threshold set by most insurers only on a...
https://www.ia.org.hk/english/supervision/antimoney_laundering/files/IA_AML_findings_briefing_20180531.pdf -
Date: 2022-04-27
... – Collection of CDD Information/ Documents (Cont’d) 19 Findings: Policyholders’ financial status evidence (e.g. income/ assets proofs) not required for insurance policies reaching a high premium amount (e.g. premium amount threshold set over HKD6M in some cases) Premium threshold set by most insurers only on a...
https://www.ia.org.hk/english/supervision/antimoney_laundering/files/IA_AML_findings_briefing_20180531.pdf -
Date: 2019-11-05
[PDF]
Circular_01042022.pdf
... Circular on the supervisory standards and key requirements on the use of premium financing to take out long term insurance policies /….. 1 April 2022 Our Ref: INS/TEC/9/2/2/26 To: Chief Executives of authorized insurers carrying on long term business and responsible officers of licensed insurance...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Circular_01042022.pdf -
Date: 2022-05-31
... is virtually unfettered. In line with the free market principle, VHIS Providers are free to set their own premium levels. By common market practice, Certified Plans may charge standard premiums that differ by age and gender, and adjust the overall premium level annually according to factors like...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/P3_SN_eng_2017ver_2018_19update_file8.pdf -
Date: 2019-12-02
[PDF]
Annex_01042022.pdf
... Annex - Important Facts Statement - Premium Financing Annex IMPORTANT FACTS STATEMENT – PREMIUM FINANCING This “Important Facts Statement – Premium Financing” (“IFS-PF”) aims to help you understand the factors to be considered and the risks involved in funding the purchase of your life insurance...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Annex_01042022.pdf -
Date: 2022-05-31
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Financial Arrangements
... Insurance Authority (IA) in its initial years are being covered by government funding. In the long run, the IA has to be financially independent and recover its operating costs through the collection of premium levies payable by policy holders and fees payable by insurance companies, designated insurance...
https://www.ia.org.hk/english/aboutus/role/financial_arrangements.html -
Date: 2021-09-13
... policy, i.e. on whether the clients could afford to pay at the premium level for the full term of a regular-premium policy to be recommended, or whether the clients could afford to set aside a lump sum of liquid assets for the specified term of a single-premium policy. Special attention should be given...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/4_CIB_GN4_on_Cond_KYC_Proced_for_LT_Ins_Busi_v4_13_10_2015_eg19.pdf -
Date: 2019-12-20
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FAQs
... levy on insurance premium and the related maximum levy (cap) payable? A1 Inception date/ Inception anniversary date. Premium due date subsequent to inception date or settlement date is NOT relevant....
https://www.ia.org.hk/english/portal_for_insurers/lisa/faq.html -
Date: 2019-10-23