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    Total Payout Ratio for Participating Products

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    Feature overview

    To provide an overview of the overall historical performance of the participating products of Hang Seng Insurance Company Limited (“Hang Seng Insurance”), reflecting both the guaranteed and non-guaranteed benefits, the following tables show the Total Payout Ratio for each of our participating products which (a) it has issued new policies since 2010, and (b) it still has policies inforce in the reporting year 2023. These results are intended for reference purpose only and should not be taken as an indicator of future guaranteed and non-guaranteed benefits declaration of the participating products. The actual payout ratios in the future may be lower or higher than the historical payout ratios illustrated.

    Since each Total Payout Ratio is calculated as an average measure across all policies of a product series for each policy year, the actual Total Payout Ratio for an individual policy may be different from the Total Payout Ratio shown in this document, individual inforce policyholder is advised to check the inforce re-projection of the policy for the latest view on the future benefits. For further enquiries, please contact any Hang Seng Bank branch or our Customer Service Hotline 2596 6262.

    Find your product

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD 100% 100% 100% 100% 100% 100% 100% N/A N/A N/A N/A
    USD 100% 100% 100% 100% 100% 100% 100% N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD 100% 100% 100% N/A N/A N/A N/A N/A N/A N/A N/A
    USD 100% 101% 100% N/A N/A N/A N/A N/A N/A N/A N/A
    RMB 100% 100% N/A N/A N/A N/A N/A N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD 103% 104% 102% N/A N/A N/A N/A N/A N/A N/A N/A
    USD 104% 104% 102% N/A N/A N/A N/A N/A N/A N/A N/A
    RMB 100% 100% N/A N/A N/A N/A N/A N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A 100% 100% N/A N/A N/A N/A N/A N/A N/A
    USD N/A N/A 100% 100% N/A N/A N/A N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A 100% 100% N/A N/A N/A N/A N/A N/A N/A
    USD N/A N/A 100% 100% N/A N/A N/A N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A 98% 98% 99% 97% 96% 96% 95% N/A
    USD N/A N/A N/A 98% 99% 99% 97% 97% 96% 96% N/A
    RMB N/A 100% 100% 100% 100% 100% 100% 100% N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    RMB N/A 100% 100% 100% 100% 100% 100% 100% 100% N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A N/A N/A 98% 96% 95% 94% 94% 93%
    USD N/A N/A N/A N/A N/A 98% 96% 95% 94% 94% 93%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 93%
    USD N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 93%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 93%
    USD N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 93%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A N/A N/A N/A N/A N/A N/A 97% 96%
    USD N/A N/A N/A N/A N/A N/A N/A N/A N/A 96% 97%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD 100% 100% 100% 100% 100% N/A N/A N/A N/A N/A N/A
    USD 100% 100% 100% 100% 100% N/A N/A N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    USD 100% 100% 100% N/A N/A N/A N/A N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    USD N/A 100% N/A N/A N/A N/A N/A N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD 100% 100% 100% N/A N/A N/A N/A N/A N/A N/A N/A
    USD 100% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    USD 101% 101% N/A N/A N/A N/A N/A N/A N/A N/A N/A
    RMB 100% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A 99% 99% 100% 99% 99% 98% 98% N/A N/A
    USD N/A N/A 99% 100% 100% 99% 99% 98% 98% N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A 93% 94% 94% 95% 92% 92% 93% 93% N/A
    USD N/A N/A 92% 94% 94% 95% 93% 90% 93% 93% N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A 89% 91% 94% 93% 94% 95% 95% 94%
    USD N/A N/A N/A 91% 92% N/A 93% 93% 94% 94% 93%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A N/A N/A N/A N/A N/A 98% 98% 98%
    USD N/A N/A N/A N/A N/A N/A N/A N/A 98% 98% 98%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A N/A N/A N/A N/A N/A N/A 85% 87%
    USD N/A N/A N/A N/A N/A N/A N/A N/A N/A 83% 79%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A N/A N/A N/A N/A N/A 100% 100% 100%
    USD N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 100%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating product

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    USD 100% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
    RMB 100% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A N/A N/A 99% 97% 96% 96% 96% 95%
    USD N/A N/A N/A N/A N/A 99% 97% 96% 96% 95% 95%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD N/A N/A N/A N/A N/A N/A 96% 96% 96% 95% 95%
    USD N/A N/A N/A N/A N/A N/A N/A 97% 95% 95% 94%

    Total Payout Ratio Level

    Policy year 1 to 10+

    Product Type

    Participating products

    Total Payout Ratios for reporting year

    2023

    Currency

    Policy year 1
    (Policy effective in 2022)

    Policy year 2
    (Policy effective in 2021)

    Policy year 3
    (Policy effective in 2020)

    Policy year 4
    (Policy effective in 2019)

    Policy year 5
    (Policy effective in 2018)

    Policy year 6
    (Policy effective in 2017)

    Policy year 7
    (Policy effective in 2016)

    Policy year 8
    (Policy effective in 2015)

    Policy year 9
    (Policy effective in 2014)

    Policy year 10
    (Policy effective in 2013)

    Policy year 10+
    (Policy effective in 2010-2012)
    HKD 100% 100% 100% 100% 100% 100% 100% N/A N/A N/A N/A
    USD N/A N/A N/A 100% 100% 100% 100% N/A N/A N/A N/A

    FAQs

    Common questions

    The Total Payout Ratio is calculated as the ratio of the aggregate actual total cash value against the aggregate illustrated amounts at the point of sale for all the relevant in-force participating policies at that policy year. The total cash value reflects both the guaranteed and non-guaranteed benefits which include guaranteed cash value, accumulated endowment coupons and interests (if applicable), accumulated annuities and interests (if applicable), accumulated dividends and interests, terminal dividends (if applicable) to be paid upon surrender etc

    Illustrative example

    Assume Product Y contains the following 4 HKD policies as of reporting year 2023:

    Policy
    		 Policy year
    		 Policy effective date
    		 Guaranteed benefits (HKD)
    		 Illustrated non-guaranteed benefits (HKD)
    		 Illustrated total cash value (HKD)
    		 Actual non-guaranteed benefits (HKD)
    		 Actual total cash value (HKD)
    1 1 8 Apr 2022
    		 0 144 144 (= 0 + 144)
    		 144 144 (= 0 + 144)
    2 2 26 Apr 2021
    		 374 315 689 (= 374 + 315)
    		 257 631 (= 374 + 257) 
    3 2 20 May 2021
    		 494 416 910 (= 494 + 416)
    		 339 833 (= 494 + 339)
    4 3 2 Aug 2020
    		 2,628 1,633 4,261 (= 2,628 + 1,633)
    		 1,416 4,044 (= 2,628 + 1,416)

    The calculation of Total Payout Ratio for HKD policies for reporting year 2023 are shown below:

    Product
    		 Total Payout Ratios for reporting year 2023
    Policy year 1 (Policies effective in 2022)
    		 Policy year 2 (Policies effective in 2021)
    		 Policy year 3 (Policies effective in 2020)
    Product Y
    		 144 / 144 = 100% (631 + 833) / (689 + 910) = 92%
    		 4,044 / 4,261 = 95%

    Note: The figures shown in the above example are for illustrative purpose only.

    Footnote

    Other point(s) to note

    1. Some of the above results are shown as “N/A” because:
      • they were launched less than 10 years ago or during a limited time period; or
      • the products have been closed to sales; or
      • the guaranteed and non-guaranteed benefits amount illustrated at point of sale is zero and hence Total Payout Ratio is undetermined
    2. The above life insurance plans are underwritten by Hang Seng Insurance Company Limited which is authorized and regulated by the Hong Kong Insurance Authority to carry on long term insurance business in the Hong Kong SAR. The benefits of the plans are subject to the credit risk of Hang Seng Insurance Company Limited (for details, please refer to “Product risks – Credit risk” on the product brochure). The above insurance plans are insurance plans with saving elements and not any kind of bank deposit. The proceeds received upon policy surrender, whether partial or full, may be less than the total premiums paid.
    3. The ratios are rounded to nearest integer %