The following is issued on behalf of the Hong Kong Monetary Authority:
To enhance the income protection for retirees, HKMC Annuity Limited (HKMCA), a wholly-owned subsidiary of The Hong Kong Mortgage Corporation Limited, announced today (April 26) the launch of enhancement measures and a promotional offer for the HKMC Annuity Plan (Plan). Details are as follows:
- "Lifelong Monthly Income Booster" (Note 1): For the first HK$300,000 premium of new applications per customer, customers can enjoy a 25 per cent increase in monthly annuity payouts for life, upon successful application for the Plan during the promotion period between April 29 and December 31, 2024.
- Special Withdrawal Arrangement Enhancement (Note 2): With effect from April 29, 2024, customers may withdraw up to 100 per cent of the remaining balance of the premium paid (Note 3) to cover their medical-related expenses without any withdrawal charges. The maximum lifetime withdrawal limit for each customer is HK$1 million. This enhancement measure is applicable to all existing and new policies.
- Premium discount offer (Note 4): Eligible customers (Note 5) can enjoy up to 2 per cent premium discount, upon successful application for the Plan during the promotion period between April 29 and December 31, 2024.
Executive Director of the HKMCA, Mr Raymond Li, said, "With continued product enhancements, the Plan has helped over 15 000 customers turn about HK$15 billion of their savings into guaranteed, stable and lifelong annuity income since its launch. We believe that the product enhancements and promotional offer introduced will offer greater protection and flexibility to customers, allowing them to enjoy retirement with greater peace of mind."
From today onwards, interested parties can visit the HKMCA website (www.hkmca.hk) to arrange sales appointment. For enquiries, please call the customer service hotline at 2512 5000.
Note 1: "Lifelong Monthly Income Booster" is subject to terms and conditions.
Note 2: Terms and conditions applied. Please refer to the product brochure for details.
Note 3: The remaining balance of the premium paid refers to the amount of the remaining premium after deducting the total annuity payments received by the insured.
Note 4: This premium discount offer is subject to terms and conditions, and may not be applied in conjunction with other promotional offers or premium discounts offered by the HKMCA.
Note 5: Eligible customers include Mandatory Provident Fund Schemes members or Occupational Retirement Schemes members, as well as AMIGOS By HKMC members.
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