'Children Savings Account' is applicable to customers below the age of 18. The initial deposit amount is HK$300 and there is no minimum balance requirement nor monthly service fee. However, a HK$20 counter transaction fee will be applied for every transfer/cash withdrawal made over the counter.
2.
The 'Personal Loan with Small Loan Amount' offers small amount loans to low income people for development purposes, such as buying computers and school essentials, or taking courses that are approved by The Hong Kong Council for Accreditation of Academic and Vocational Qualifications or reimbursable courses under the Continuing Education Fund. To be eligible, a sole applicant should have a monthly income of HK$2,000 to HK$4,999, while joint applicants should have a total monthly household income of HK$4,000 to HK$9,999. The minimum and maximum loan amount is HK$2,000 and HK$10,000 respectively. Repayment tenor is from six months to 48 months.
3.
The 'Life and Accident Protector' is offered until 31 December 2010. It is applicable to HKD Statement Savings Account and existing HKD Passbook Savings Account customers aged 19 to 55 (age at next birthday) with a monthly income of HK$10,000 or less. The premium is HK$49 a month. An insured cannot apply for more than one Life and Accident Protector Policy. For details, visit any HSBC branch or call 2233 3131.
4.
The 'Extended Unemployment Benefit' and 'Unemployment Premium Subsidy Benefit for Child's Education Insurance Plan' Programmes (the Programmes) run from 16 September 2009 to 31 December 2010 (the Programme Period), both dates inclusive.
5.
Under the 'Extended Unemployment Benefit' programme:
a.
Eligible policyholders can now delay payment of all premiums due for up to 730 days upon unemployment for at least 30 consecutive days and still enjoy the full protection of the policy.
b.
The benefit is applicable to all the existing and new policyholders aged 19 to 64 (age at next birthday) holding a valid Hong Kong Identity Card and with eligible life insurance plans carrying Unemployment Benefit.
c.
Eligible life insurance plans include Lifestyle Wealth Protection Plus, Lifestyle Protection Plus, Lifestyle Retirement Protection Plus, Lifestyle Education Protection Plus, RetireIncome Annuity Plan, WholeLife Protection Plan, Target Protection Plus, Term Protection Plan, Mortgage Protection Plan, Term Life Insurance (Refundable Premium), Lifetime Protection Plus, RetireEnrich Protection Plus, LifeSave Protection Plan (Lifetime Medical) and Refundable Protection Plan (Major Illness), except application of business insurance such as keyman insurance or buy-sell agreement.
d.
Customers are required to pay back all the overdue premiums before the end of the extended grace period.
6.
Under the 'Unemployment Premium Subsidy Benefit for Child's Education Insurance Plan' programme:
a.
A lump sum amount equivalent to HK$10,000 premium subsidy will be paid by HSBC Life (International) Limited as premium on behalf of the customer if the policyholder of the plan becomes unemployed for at least 30 consecutive days.
b.
The benefit is applicable to all the existing and new policyholders of Target Protection Plus 18 and Lifestyle Education Protection Plus aged 19 to 64 (age at next birthday) holding a valid Hong Kong Identity Card.
c.
Each customer may claim once only per life with a lump sum amount of HK$10,000.
d.
Premium Subsidy will be paid into customers' policies on their behalf for settlement of future premiums due.
e.
HSBC Life (International) Limited will notify customers on the approval of claims and end date of the benefit.
7.
To be eligible for above benefit(s), the unemployment must commence during the Programme Period, and be proved to be a valid Unemployment Benefit claim in accordance with the policy terms. A customer must provide satisfactory evidence showing that he/she has been unemployed for a continuous period of 30 days. Customer has to submit to HSBC Life (International) Limited: (1) a written notice of claim within 30 days of unemployment, (2) affirmative proof of unemployment including "letter of redundancy of employment", "last payroll with breakdown on severance payment" together with Unemployment Benefit Claim Form within 90 days after unemployment commences. HSBC reserves the right to determine the customer's eligibility.
8.
If a customer is eligible to claim for both Extended Unemployment Benefit and Unemployment Premium Subsidy Benefit for Child's Education Insurance Plan under the same policy, the HK$10,000 premium subsidy will be paid into the policy of the claimant for settlement of future premium due upon the approval of the Unemployment Benefit claim. When the premium subsidy is used up, the customer has to submit another Unemployment Benefit claim form should his/her unemployment continue and would like to extend payment grace period for the next 730 days. The 730 days Unemployment Benefit grace period shall then commence upon the approval of 2nd submission of Unemployment Benefit claim.
9.
Customers will not be eligible to claim these benefits in any of the following circumstances:
a.
If any period of unemployment does not qualify him/her for payment of severance benefits under the Employment Ordinance of the Hong Kong Special Administrative Region.
b.
If his/her unemployment commences within two (2) months of the Policy Date, Issue date or date of ownership change of the Policy, whichever is the latest.
c.
If he/she is unemployed for less than 30 consecutive days.
d.
If he/she is self-employed (Professionals excepted).
e.
If he/she worked for a company/firm in which his/her relative has a financial interest.
f.
There was unemployment or the prospect of unemployment that he/she knew of or should reasonably have known of on or before the Policy Date, Issue Date, or date of ownership change of the Policy, whichever is the latest.
g.
Unemployment caused by or resulting from misconduct or any action that contributes to or leads to him/her being dismissed, or resignation, retirement or voluntary redundancy.
h.
Unemployment after the end of a fixed term contract, a contract for a specific task or a period of training or apprenticeship.
10.
The terms and conditions applicable to the Unemployment Benefit as specified in the related Policy shall continue to apply in addition to these Terms and Conditions.
11.
All life insurance plans are underwritten by HSBC Life (International) Limited which is authorized and regulated by the Commissioner of Insurance of the Hong Kong SAR. HSBC is an appointed insurance agent authorized by HSBC Life (International) Limited.
12.
Offers under this promotion are applicable to Retail Banking and Wealth Management customers of HSBC only.
13.
HSBC reserves the right to amend these Terms and Conditions without prior notice.
14.
The footnotes to these Terms and Conditions set out in this page shall for all purposes form part of these Terms and Conditions.
15.
In the event of any discrepancy or inconsistency between the English and the Chinese versions of these Terms and Conditions, the English version shall prevail.
16.
In the event of any disputes arising out of these Programmes, the decision of HSBC shall be final and conclusive.
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