Retirement Planning with QDAP (Comparing QDAP products of multi-national insurers)

Estimated reading time 8 minutes

10Life Team

03 Mar 2022
Retirement Planning with QDAP (Comparing QDAP products of multi-national insurers)
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10Life Team

03 Mar 2022

Estimated reading time 8 minutes

年輕時,可以揀自己喜歡的生活,退休後想繼續有得揀,及早規劃非常重要。政府早年推出合資格延期年金保單(俗稱扣稅年金,QDAP),提供稅務優惠,吸引市民趁後生儲蓄,為退休開支做好準備。假如有市民想在退休後關鍵20年獲得穩定收入,現時市場上有甚麼產品選擇?10Life今天就比較一下4款跨國保險公司推出的扣稅年金,發現保證回報原來可以相差32%。

香港人預期壽命越來越長

根據政府統計處數據,於2020年,香港男性平均預期壽命為83年,女性則為88年,若果一般人65歲退休,往後20年是否有足夠現金流,對於維持生活質素可謂非常關鍵。

投保扣稅年金除了獲得稅務優惠,最重要是讓投保人在職時候供款,期間保險公司會透過投資令金額增長,當投保人達到指定年齡時,便可以開展年金領取期。

基於退休規劃為考慮,我們假設投保人為45歲男性,供款期為10年,每年供7,800美元,總供款額78,000美元;並於65歲起開始獲得年金,入息期為20年,直至85歲為止,然後比較大型跨國保險公司推出的扣稅年金,包括安盛「賞豐盛」延期年金宏利歲稅樂延期年金保誠「雋逸人生」延期年金,以及永明金融豐碩延期年金

保險產品比較要在相同條款下才有意思,若果其他大型跨國保險公司扣稅年金未有相同設計,例如友邦的扣稅年金,我們則未有納入此次比較。

表1:以45歲起供款10年、總供款額78,000美元、入息期65歲至85歲
比較扣稅年金保證及預期入息

10Life比較扣稅年金 保證入息(美元) 預期入息(美元)
65至74歲 75至84歲 總入息 總入息佔已繳保費 65至74歲 75至84歲 總入息 總入息佔已繳保費
 安盛「賞豐盛」
延期年金計劃
55,224 55,224 110,448 142% 110,448 110,448 220,896 283%
 宏利歲稅樂享
延期年金   
59,596 59,596 119,193 153% 109,903 109,903 219,805 282%
保誠「雋逸人生」
延期年金計劃
54,596 54,596 109,192 140% 83,389 83,389 200,208

(註1)

257%
永明金融豐碩
延期年金計劃
71,821 71,821 143,642 184% 93,844 104,660 198,504 254%
註:
1.保誠「雋逸人生」延期年金計劃的受保人於85歲時獲派發預期終期紅利33,430美元。
2.以上保費資料更新至2022年3月1日,並未包括保險業監管局收取的保費徵費。

保證年金收入不容忽視 最高及最低相差32%

對於很多人而言,退休求安穩,避免失預算,扣稅年金保證入息部份便顯得重要。以入息期65歲至85歲的扣稅年金中(見表1),永明金融20年總計保證入息約 14.4萬美元,佔已繳保費184%,屬4款產品中最高;緊隨其後為宏利(11.9萬美元)、安盛(11萬美元),及保誠(10.9萬美元),最高及最低相差32%(約3.5萬美元)。

扣稅年金亦設有非保證入息,加上保證回報構成「預期入息」,以安盛及宏利較高。不過,非保證部份派發金額受多個因素影響,包括保險公司投資表現、分紅政策、經濟環境等,實際金額難以預料。

表2:以45歲起供款10年、總供款額78,000美元、入息期65歲至85歲
比較扣稅年金20年入息期內部回報率及扣稅效應

10Life比較扣稅年金 期滿保證內部回報率 總保證入息佔扣稅後總保費 期滿預期內部回報率 總預期入息佔扣稅後總保費
未計扣稅 計入扣稅(以17%稅率) 未計扣稅 計入扣稅(以17%稅率)
 安盛「賞豐盛」
延期年金計劃
1.4% 2.1% 170% 4.3% 5.0% 340%
 宏利歲稅樂享
延期年金
1.7% 2.4% 184% 4.2% 5.0% 339%
保誠「雋逸人生」
延期年金計劃
1.3% 2.1% 168% 3.6% 4.3% 308%
永明金融豐碩
延期年金計劃
2.5% 3.2% 221% 3.8% 4.5% 306%
註:
1.於購買年金與稅務扣減存在若1年差距,於計算上述回內部回報率時,我們假定稅務寬免在繳納保費後的1年開始。
2.香港稅務局的邊際稅率為2%、6%、10%、14%和17%,上述假設獲得6萬港元免稅額,並以最高稅率17%來計算。但實際可節省的稅款金額需根據個人情況而定,並可能與個案中所述的金額有所不同。
3.以上保費資料更新至2022年3月1日,並未包括保險業監管局收取的保費徵費。

扣稅效應顯著提升回報

對比一般年金,扣稅年金的稅務優惠尤其吸引。投保人只需要每年3月31日稅季前投保,便可以獲得稅務減免,每年免稅額最多為6萬港元,以現時薪俸稅最高稅率17%計,實際可扣稅10,200港元。

永明金融期滿保證內部回報率(IRR)未計扣稅為2.5%;扣稅後IRR則達3.2%,屬4款產品中最高(見表2);至於預期IRR在扣稅後亦會進一步提高,4款產品的回報率在4.3%至5%之間。

事實上,同樣以薪俸稅現時最高17%稅率計,將扣稅等同保費扣減,實際保證入息佔扣稅後保費比率亦有顯著提升作用。以當中兩份產品為例,宏利由 153%升至184%,永明金融由184%升至221%。

比較早期退保價值及身故條款

假設扣稅年金由45歲起供款10年,並計劃於65歲至85歲領取年金,倘若未等到派發年金,中途遇上不測之事,急需資金周轉而提早退保,又可以取回多少資金呢?

比較4款產品(見表3),假如55歲完成供款便即時退保,投保人可保證取回51%至90%已繳保費。若於65歲退保,大部份產品可以保證回本,當中永明金融可取回138%已繳保費。

表3:比較扣稅年金的早期退保價值及身故賠償

10Life比較扣稅年金 早期退保價值佔已付保費 早期身故賠償佔已付保費
於55歲 於65歲 於55歲 於65歲
 安盛「賞豐盛」
延期年金計劃
84% 107% 101% 107%
 宏利歲稅樂享
延期年金
84% 106% 100% 106%
保誠「雋逸人生」
延期年金計劃
51% 93% 105% 105%
永明金融豐碩
延期年金計劃
90% 138% 100% 138%
註:
1.以上保費資料更新至2022年3月1日,並未包括保險業監管局收取的保費徵費。

至於保單早期身故,若受保人於55歲(第10個保單年度)不幸離世,受益人至少可獲得保證身故賠償100%至105%已繳保費。若於65歲(第20個保單年度)離世,永明金融保證身故賠償額更達138%已繳保費。

總括而言,對於但求安穩退休的投保人,在選擇扣稅年金時,最重要是留意保證回報是否具有優勢;亦需要比較早期退保或身故條款。若想詳細比較上述扣稅年金產品,可瀏覽10Life的產品解碼器

註:
1.本文由10Life從不同途徑搜集市場資料製作而成,僅供一般參考之用,並沒有考慮任何個人需要及合適性,亦不應被視爲銷售建議。投保前應與持牌保險顧問商討適合自己的保險方案,並以保險公司提供的資料爲準。
2.以上保費資料更新至 2022年3月1日,並未包括保險業監管局收取的保費徵費。
3.本文最後更新日期: 2022年3月1日。

Disclaimer

10Life Product Comparison and 10Life Insurance Ratings are developed by 10Life Financial Limited, an authorised insurance broker company licensed with the Insurance Authority under License Number FB1526. 10Life Product Comparison and 10Life Insurance Ratings are developed for generic customer segments using mathematical calculations based on product information, facts and data, and are not influenced by any partnerships with or fees received from insurance companies.

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Nik, Leung Tsz Kei

梁芷萁

10Life Financial Manager, Insurance Specialist

4.8
1173
274

Jack, Ng Wai Lap

黃維立

AXA Unit Manager

4.7
4050
617

Arthur, Law Wing Kai

羅永楷

10Life Financial Manager of Business Development

5
249
80

Winnie, Ng Wai King

吳惠琼

FTLife Agency Manager

4.8
1858
311

Even, Shum Miu Chu

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恆泰 高級理財顧問

4.6
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Philip, Lee Hon Lun

李漢麟

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Tony, Yeung Chun Fung

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310

Mabel, Siu Sin Wan

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FTLife Wealth Management Director

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1068
317

Edward, Lam Wing Chuen

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Convoy Senior Wealth Management Advisor

4.6
1557
263

Noble, Suen Chit Yuen

孫哲遠

AIA Associate Director, Wealth Management and Protection

4.4
1116
249

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