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A Guide To Purchasing Life Insurance In Hong Kong

Offering Your Family The Best Protection!

A Guide To Life Insurance In Hong Kong

You want to provide maximum security for your family. Unfortunately, unpleasant surprises and misfortunes in life can happen sometimes. Fret not; Little Steps has created this handy guide in explaining the basics of  Top Life Insurance and the top providers in Hong Kong to provide the best protection for your family.

 

  • What Is Life Insurance?

    WHAT IS LIFE INSURANCE?

    Life insurance essentially provides a safety net for your family. Although it might be daunting to look into life insurance, it doesn't need to be. So let's get into the basics of what life insurance is?

    • Life insurance is a contract between you and your insurance company.
    • The clients pay the insurance company premium payments, and in exchange, they will pay a death benefit to whomever you choose to be your beneficiaries after your death.
    • This lump sum can be used for anything the beneficiary chooses, e.g., funeral costs, mortgage payments, university bills, etc.
  • Types Of Life Insurance

    MAIN TYPES OF LIFE INSURANCE

    There are two primary types of life insurance: term and permanent life.

    Term life insurance offers protection for only a specific period, and the premium payments stay the same amount for the policy duration. Policy lengths can vary from 10 to 30 years.

    Permanent life insurance offers lifelong coverage and therefore is more expensive. Within permanent life insurance, there are various options:

    • Burial insurance - only covers funeral costs.
    • Survivorship life insurance - insures two people under one policy.
    • Universal life insurance - offers flexibility, e.g., you can change premium payments, and the cash value will build depending on the policy type.
    • Whole life insurance - provides a fixed death benefit.
  • A Guide To Purchasing Life Insurance In Hong Kong - Chubb

    CHUBB

    Chubb, formerly knowns as ACE, offers Chubb Preferred Term Life Insurance Plan. This offers high protection coverage at an affordable premium and the amounts are guaranteed during the selected Guaranteed Premium Term. They also provide guaranteed policy renewal, Terminal Illness Benefit, Unemployment Benefit, and policy conversion so you can have some peace of mind.

    Chubb, https://www.chubb.com/hk-en/personal/chubb-preferred-term-life-insurance-plan.html

  • A Guide To Purchasing Life Insurance In Hong Kong - AIA

    AIA HONG KONG

    AIA Hong Kong recognizes everyone has different needs at different stages of life. They are committed to helping you meet your financial needs and goals with a wide range of life insurance plans and financial solutions. With adequate protection coverage, you can ensure that your loved ones can live the life you have planned for them if you pass away unexpectedly.

    AIA, https://www.aia.com.hk/en/our-products/life-protection.html

  • A Guide To Purchasing Life Insurance In Hong Kong - AXA

    AXA

    Your family is the most important thing to you. Live worry-free and safeguard the future of your loved ones through all of life’s uncertainties with AXA’s protection solutions. Whether for term life, whole life, or critical illnesses, they provide comprehensive coverage and benefits to lessen your family’s financial burden when you need it the most.

    AXA, https://www.axa.com.hk/en/life-insurance-savings

  • A Guide To Purchasing Life Insurance In Hong Kong - Zurich

    ZURICH

    Zurich brings you a choice of protection solutions designed to safeguard every aspect of your life. You know how important it is to consider the consequences of sickness, injury, or death. After all, how might you replace lost income? Who will pay your mortgage and bills? Zurich has a series of insurance plans policies to provide coverage for all life stages so that you can always enjoy peace of mind.

    Zurich, https://www.zurich.com.hk/en/individuals/life-insurance

  • A Guide To Purchasing Life Insurance In Hong Kong - Manulife

    MANULIFE

    As you go through different stages in life, your priorities continue to change. Whole-in-One Prime offers you the security of whole life insurance and the opportunity to build your wealth with just one single premium. You do not have to pay any more premiums in the future. This is a great option for families who require a personalized option.

    Manulife, https://www.manulife.com.hk/en/individual/products/life/life-protection/whole-in-one-prime-2.html

  • A Guide To Purchasing Life Insurance In Hong Kong - FWD

    FWD GROUP

    FWD Group, which recently acquired MetLife Hong Kong and Metropolitan Life, offers award-winning insurance and protection. They offer various life insurance plans that are tailored to meet your needs. The team at FWD is super helpful, and they will make sure you find the type of life insurance that is perfect for your family.

    FWD Group, https://www.fwd.com.hk/en/products/life-protection/

  • A Guide To Purchasing Life Insurance In Hong Kong - Prudential

    PRUDENTIAL

    Prudential offers PRULife Protector II, which provides whole life and accidental death cover to protect your family should the worst happen. This also aids in saving for your retirement and helps support your goals at any stage of your life. They also pay future premiums for further protection of the family if the policy holder would pass away due to an accident.

    Prudential, https://www.prudential.com.hk/en/life-insurance/life-protection/prulife-protector-ii/

  • Life Insurance Hong Kong

    CHINA LIFE INSURANCE

    China Life Insurance has a branch in Hong Kong since 1984 and they offer various types of life insurances. From Graceful Life Deferred Annuity Plan II to Eminent Fortune Wealth Planner and many more! Their knowledgeable and helpful team will aid you every step of the way to find the best life protection insurance that suits your needs!

    China Life Insurance, https://www.chinalife.com.hk/products/insurance/life-protection

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