Points to Note

Points to Note

Points to Note

  • PLP is more suitable for individuals who intend to hold the policy for a long period of time and are familiar with investment.

  • PLP is more suitable for individuals who intend to hold the policy for a long period of time and are familiar with investment.

  • Complete the “Financial Needs Analysis”, “Risk Profile Questionnaire”, “Important Facts Statement” and other relevant documents before purchasing PLP.

  • Complete the “Financial Needs Analysis”, “Risk Profile Questionnaire”, “Important Facts Statement” and other relevant documents before purchasing PLP.

  • Evaluate your insurance and financial needs through a financial analysis.

  • Evaluate your insurance and financial needs through a financial analysis.

  • Consider factors such as the affordability of the premium, the premium payment term and any insurance charges.

  • Consider factors such as the affordability of the premium, the premium payment term and any insurance charges.

  • Carefully read the PLP’s offering documents and have a clear understanding of the details.

  • Carefully read the PLP’s offering documents and have a clear understanding of the details.

  • Pay attention to the risks disclosed by the insurance company in offering documents.

  • Pay attention to the risks disclosed by the insurance company in offering documents.

  • No matter whether you are purchasing a PLP with a single premium or a regular premium, PLP should not be considered as a short-term investment tool.

  • No matter whether you are purchasing a PLP with a single premium or a regular premium, PLP should not be considered as a short-term investment tool.

  • Insurance intermediaries are responsible for clearly explaining the content of the policy before the applicant signs it. Do not sign any blank forms.

  • Insurance intermediaries are responsible for clearly explaining the content of the policy before the applicant signs it. Do not sign any blank forms.

  • If the sales process for a PLP is not recorded as being completed in the insurance company's office, the insurance company must conduct a "post-sale call" and call the customer for confirmation within 5 working days after the policy issuance.

  • If the sales process for a PLP is not recorded as being completed in the insurance company's office, the insurance company must conduct a "post-sale call" and call the customer for confirmation within 5 working days after the policy issuance.

  • Policyholders have the right to cancel the policies during the “cooling-off period” and obtain the refund of the insurance premium and insurance levy (subject to any applicable market value adjustment). The “cooling-off period” is the period up to 21 calendar days immediately following the day of delivery of the policy, or the delivery of the Cooling-off Notice to the policyholder or the policyholder’s nominated representative (whichever is earlier).

  • Policyholders have the right to cancel the policies during the “cooling-off period” and obtain the refund of the insurance premium and insurance levy (subject to any applicable market value adjustment). The “cooling-off period” is the period up to 21 calendar days immediately following the day of delivery of the policy, or the delivery of the Cooling-off Notice to the policyholder or the policyholder’s nominated representative (whichever is earlier).

  • Consult your insurance intermediary or your insurance company for any questions.

  • Consult your insurance intermediary or your insurance company for any questions.

Updated on : 15 November 2024

Updated on : 15 November 2024

© Copyrights 2024. The Hong Kong Federation of Insurers. All rights reserved

© Copyrights 2024. The Hong Kong Federation of Insurers. All rights reserved