Annuity Plan enhanced

2018-12-13 09:54:29

HKMC Annuity Limited today announced measures to enhance its Annuity Plan, which cover a 100% lump-sum death benefit payment, a special withdrawal to meet medical and dental expenses and relaxation of the maximum premium paid by the policyowner.

In the unfortunate death of the insured, the designated beneficiary can choose to immediately get back all the premium paid in a lump-sum less the cumulative guaranteed monthly annuity payments paid, without extra discount.

Another enhancement measure allows for the policyowner to apply for a special withdrawal to cover his or her medical and dental expenses, subject to a maximum of $300,000 that can only be made once.

For the relaxation of the maximum premium, the amount per person will be increased from $1 million to $2 million.

 
The Annuity Plan will now adopt a continuous sales model throughout the year and is open for eligible persons who are Hong Kong permanent residents aged 65 or above.

The enhancement measures came into effect today and are applicable to both existing and new customers.

Click here for details of the measures and the application procedures.

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