【Breaking the barriers of time and distance】 One-stop advance planning, so “love and continuity” can weather life’s changes without fear.

The blueprint of life is often made even more extraordinary by the dreams of our loved ones. Today, the horizons of many families have long extended beyond geographical boundaries — children may travel overseas to pursue further education, parents may choose to enjoy their retirement in another location, while you may be working locally to advance your career. As the cornerstone of the family, you need a stable yet flexible financial plan to support the changes each family member experiences at different stages of life and their aspirations for the future.

When love transcends geographical boundaries, practical support must accompany it. How, then, should financial arrangements keep pace? What people seek is no longer merely wealth accumulation, but an all-in-one financial management platform offering a series of more flexible, convenient and efficient financial tools to safeguard and pass on family wealth with confidence.

Hang Seng InsuranceFamilyPower Multi-Currency Life Insurance Plan (「愛與恒」) is an extension of love, helping you prepare for your family’s future financial goals, including children’s education, retirement and future medical expenses. It also provides life protection, giving the family breadwinner greater peace of mind. Together with other Hang Seng banking products, it enables customers to accumulate wealth early and become the family’s strongest support. Whether you or your loved ones have clearly defined the direction ahead, or plans change along the way, you can remain true to your promise of love, allowing love to act without fear, distance or worry. 

Hang Seng Insurance believes that control over financial planning should truly be placed back in the hands of customers.

The limitations of traditional multi-currency plans often cause customers considerable inconvenience: when an excellent exchange-rate opportunity arises and they wish to make a conversion for family members overseas or for future planning, the opportunity may be lost because transactions can only be carried out on a rigid annual “designated date”. Remembering all the important dates is no easy task, let alone the annual “designated conversion date” for a financial product.

FamilyPower Multi-Currency Life Insurance Plan not only offers a choice of 8 policy currencies¹, including pounds sterling, Canadian dollars, Australian dollars and New Zealand dollars, but also allows customers, from the 3rd policy anniversary or after the premium payment term ends, whichever is later, to seize market opportunities at any time by converting the policy currency through the currency conversion option^2,11 up to 3 times in each policy year. This flexibility allows parents to respond to market conditions with greater ease when allocating assets globally or preparing overseas funds for their children, making every act of care and every plan more valuable.

The reason this flexibility can provide genuine peace of mind is that it is founded on the most solid commitment: truly guaranteed conversion across multiple currencies. Unlike certain plans in the market where the proportion of “guaranteed returns” may change after a currency conversion, “Love and Eternity” gives customers a true “peace of mind” — after customers exercise the currency conversion option^2,11, the proportions of the policy’s guaranteed cash value and non-guaranteed special bonus will remain unchanged. This “truly guaranteed” commitment allows customers to seize market opportunities without any worries, while providing a more secure and stable path forward for family members far away. 

Case study: Parents’ “head start” helps their children pursue their aspirations

Parents always want their children to have better opportunities. Mr Chan therefore made early preparations for the education funds of his daughter Cindy and son Carson. When they were aged 3 and 5 respectively, he took out FamilyPower Multi-Currency Life Insurance Plan, which offers a choice of 8 currencies. Whether his children ultimately decided to pursue their studies overseas or develop their careers locally, the policy’s currency conversion feature could provide flexible support.

After entering secondary school, Cindy decided to pursue her university studies in the UK. If Mr Chan had chosen a traditional multi-currency plan, the policy restrictions could have meant missing the best exchange-rate opportunity when converting currencies. However, the FamilyPower Multi-Currency Life Insurance Plan he chose is different: it enables him to seize every favourable exchange-rate opportunity and convert the policy currency from US dollars to pounds sterling. As the proportion of the policy’s guaranteed returns remains unchanged after a currency conversion^2,11 in accordance with the policy commitment, he not only avoided losing out through currency exchange fees, but was also able to make use of the exchange-rate advantage to provide additional support for Cindy’s education fund. 

How can you stay closely connected with your children or parents who are living abroad, and ensure that you can be there promptly whenever they need support? Through the seamless combination of 「愛與恒」 with Hang SengPrestige, an additional Family+ Account and Hang Seng Multi-Currency Mastercard® Debit Card, savings, wealth growth, withdrawals, management and global spending are perfectly integrated to achieve “one-stop” family financial management.

「愛與恒」 can serve as the core of your family’s wealth growth, accumulating wealth over time and providing your assets with long-term growth potential. When you need to access your funds, you can make use of the policy’s “Regular Withdrawal Option⁴” to withdraw the policy’s cash value monthly or annually, catering for different funding needs. The withdrawn funds do not need to be sent by traditional cheque; they can be deposited directly into a Hang SengPrestige Account or a Prestige Account with an additional Family+ Account in your name.

An additional Family+ Account is an integrated account. A Prestige Main Account can be linked with up to four additional Family+ Accounts for a spouse, children or parents, allowing different wealth management products to be flexibly arranged according to different financial goals. As the Main Account holder, you can easily manage all accounts through personal e-Banking, providing attentive care for your loved ones at all times. If your children are studying abroad and regularly need to pay tuition fees and living expenses overseas, you can easily arrange this through the Global Money+ overseas transfer service on the Hang SengMobile App.

The Main Account holder can also apply for Hang Seng Prestige Banking Multi-Currency Mastercard^® Supplementary Debit Cards^# for additional Family+ Account holders. Members can use the cards for local or overseas spending and enjoy $0 fees for foreign currency transactions and cash withdrawals^##, allowing them to travel freely without being held back by the lengthy waiting times and high fees associated with traditional telegraphic transfers, even when they urgently need cash. 

Case study: Staying closely connected   Delivering parents’ love instantly

When Cindy went to the UK for further studies, Mr Chan began withdrawing funds from the 「愛與恒」 policy and depositing them into the additional Family+ Account opened for his daughter, to cover her education and living expenses. Mr Chan could easily pay his daughter’s tuition fees through the Global Money+ overseas transfer service on the Hang SengMobile App.

After Cindy arrived in the UK, Mr Chan applied for a Hang Seng Multi-Currency Mastercard^® Supplementary Debit Card for her through the Family+ Account. Cindy could use the card to withdraw cash locally and make online purchases, covering her daily expenses. Mr Chan could also monitor her spending at any time through the Hang SengMobile App and, whenever Cindy needed funds unexpectedly, immediately transfer the required amount into the Family+ Account, then support his daughter through the Supplementary Debit Card. This is the change brought about by 「愛與恒」: ensuring that family support always arrives one step ahead of difficulties. 

As children grow up, the need for wealth distribution also arises. “Love and Eternity” offers a “Policy Splitting Option³”, allowing customers to split one policy into up to three separate new policies according to their wishes and distribute them among different family members. One may be a “dowry” for their daughter, carrying their heartfelt blessings; another may be an “entrepreneurial fund” for their son, embodying their boundless trust; while the third may be retained for themselves and their partner as the foundation for enjoying their later years.

The succession plan also provides diversified wealth succession arrangements. During the policy term, the policyholder may designate a successor policyholder⁵, policy trustee⁵ and successor insured person⁶, and change the insured person an unlimited number of times⁷, allowing the value of the policy to flow smoothly like an everlasting river of wealth—from the customer to their children, and then from their children to their grandchildren—enabling the family spirit and love to endure through generations.  

Comprehensive supplementary protection  Becoming a “safety net” for family security

“Love and Eternity” also provides dual protection for physical and mental well-being, ensuring that the family’s financial planning will not be disrupted when faced with unexpected health challenges or accidents.

When the insured person is diagnosed as being mentally incapacitated or suffering from severe cognitive impairment, the beneficiary of the Family Protection Mental Health Benefit⁹ under “Love and Eternity” will receive a sum of money for financial support, helping to cover the costs of caring for the patient. If the insured person unfortunately dies as a result of an accident before the age of 81, the designated beneficiary of the policy will receive an additional Accidental Death Benefit¹⁰ on top of the death benefit.

 “Love and Eternity” helps customers embrace change fearlessly at every stage of life. Whether for themselves or their loved ones, even if plans change along the way, they can stay one step ahead.  

Hang Seng Insurance hopes to break the stereotype of traditional savings insurance by combining it with other wealth management products from Hang Seng Bank to become a “one-stop” family global financial management platform, closely weaving together wealth enhancement, fund accessibility and care among family members. 

Book an appointment now or find out more: please click here. 

**Offers are subject to terms and conditions. Please note the relevant product risks. 
For the terms and conditions of the first-year premium discount offer, please click here. 
For the detailed terms, conditions, risks and exclusions of the FamilyPower Multi-Currency Life Insurance Plan, please click here to refer to the product brochure.

*Hang Seng Insurance Limited (“Hang Seng Insurance”) has the absolute right and discretion to accept or reject any application to exercise the currency conversion option and/or policy splitting option, which may be exercised from the 3rd policy anniversary or after the premium payment termination date, whichever is later. A maximum of 3 conversions may be made in each policy year, and the currency conversion rate will be determined by Hang Seng Insurance at its absolute discretion. For details of the policy splitting and currency conversion options, please refer to the product brochure. Subject to terms and conditions. Please note the relevant product risks and credit risk. The FamilyPower Multi-Currency Life Insurance Plan (“the Plan”) is a life insurance plan with a savings element and is not the same as or similar to any form of bank deposit.

Notes:

1. If you apply for “Love and Care” and pay premiums in a foreign currency, all premiums payable and policy benefits will be recorded in that foreign currency. Two-way conversion between the foreign currency and Hong Kong dollars is subject to exchange rate fluctuations. You should therefore consider the exchange rate risk before making your application decision. If premiums are paid or policy benefits are received in Hong Kong dollars, Hang Seng Insurance will convert the relevant amount from Hong Kong dollars into the foreign currency, or from the foreign currency into Hong Kong dollars, at a market-based exchange rate on the date on which your payable premium is processed or your policy benefit is settled. The exchange rate applicable at the time will be determined by Hang Seng Insurance and may change from time to time. Foreign currency exchange rates may rise or fall. If premiums are paid in Hong Kong dollars and the foreign currency appreciates against the Hong Kong dollar, the subsequent premiums payable under the policy, when calculated in Hong Kong dollars, will be higher than the first-year premium paid at the time of application. If you receive policy benefits in Hong Kong dollars and the foreign currency depreciates significantly against the Hong Kong dollar at the time the policy benefits are settled and paid, you may lose a substantial portion of the policy benefits.
2. From the 3rd policy anniversary or after the premium payment termination date, whichever is later, the policyholder may apply to convert the policy currency into another available currency. A maximum of 3 conversions may be made in each policy year, and the currency conversion rate¹¹ will be determined by Hang Seng Insurance at its absolute discretion. Hang Seng Insurance has the absolute right and discretion to accept or reject any application to exercise the currency conversion option. For details, please refer to the product brochure.
3. From the 3rd policy anniversary or after the premium payment termination date, whichever is later, the policyholder may apply to split the policy into a maximum of 3 split policies. Hang Seng Insurance has the absolute right and discretion to accept or reject any application to exercise the policy splitting option. For details, please refer to the product brochure.
4. Any application for the periodic withdrawal option must meet the following two requirements: (i) the minimum amount for each reduction in the policy amount¹²; and (ii) the minimum policy amount¹² after exercising the periodic withdrawal option. These two minimum amount requirements will be determined by Hang Seng Insurance at its absolute discretion from time to time. For details, please refer to the product brochure. 
   From the 5th policy anniversary or after the premium payment termination date, whichever is later, provided that there is no assignment of rights or indebtedness under your policy, you may request to exercise the periodic withdrawal option by reducing the policy amount in the form of annual or monthly periodic withdrawals, subject to approval by Hang Seng Insurance. Upon approval by Hang Seng Insurance, the guaranteed cash value and special bonus (if any) attributable to the reduced portion of the policy amount will be paid to the policyholder. The policy amount and total premiums paid will be adjusted and reduced proportionally. The guaranteed cash value, special bonus (if any) and death benefit calculated in accordance with the policy terms will also be adjusted accordingly, and Hang Seng Insurance’s liability under the policy will be released proportionally. For details of the periodic withdrawal option, please refer to the policy terms.
5. Hang Seng Insurance will, subject to any prevailing rules and terms and conditions determined by us from time to time, decide at its absolute discretion whether to accept your application to designate a successor policyholder and policy trustee (if applicable). For details, please refer to the product brochure.
6. Hang Seng Insurance will, subject to the following factors, among others, decide at its absolute discretion whether to accept your application to designate a successor insured person: (i) satisfactory evidence of the insurability of the successor insured person; (ii) the successor insured person must meet Hang Seng Insurance’s age requirements applicable at the time; (iii) whether the policyholder and successor policyholder (if any) have sufficient insurable interest¹³ in the successor insured person; (iv) if you wish to designate a successor insured person below the insured age¹⁴ of 18, you must designate a successor policyholder at the same time, or a successor policyholder must already be recorded with Hang Seng Insurance; and (v) other requirements determined by Hang Seng Insurance from time to time. For details, please refer to the product brochure.
7. Hang Seng Insurance will, subject to the following factors, among others, decide at its absolute discretion whether to accept any application to change the insured person: (i) satisfactory evidence of the insurability of the new insured person; (ii) the new insured person must meet Hang Seng Insurance’s age requirements applicable at the time; (iii) whether the policyholder has sufficient insurable interest¹³ in the new insured person; and (iv) other requirements determined by Hang Seng Insurance from time to time. For details, please refer to the product brochure.
8. From the 5th policy anniversary, the policyholder may apply to exercise the policy value management benefit to lock in part of the guaranteed cash value and non-guaranteed special bonus (if any). After exercising the policy value management benefit, the selected locked-in amount will become guaranteed and be allocated to the policy value management proceeds balance, where it will accumulate interest at a non-guaranteed interest rate determined by Hang Seng Insurance from time to time. For details, please refer to the product brochure.
9. If the insured person is diagnosed as mentally incapacitated or with severe cognitive impairment during the policy term, Hang Seng Insurance will pay the Family Mental Protection Benefit, which is equal to the specified percentage of the Family Mental Protection Benefit multiplied by (a) the guaranteed cash value plus (b) the special bonus (if any) and (c) the policy value management proceeds balance (if any), as at the date on which the claim under this supplementary benefit is approved. Any indebtedness will be deducted when the Family Mental Protection Benefit is paid. For details, please refer to the product brochure.
10. The accidental death benefit will automatically terminate on the earliest of: (i) the payment of the accidental death benefit; (ii) the date on which the policy of the basic plan lapses, terminates, matures, becomes void, is surrendered¹⁵ or cancelled; or (iii) the date on which the supplementary benefit terminates. For details, please refer to the product brochure.
11. The currency conversion rate means the market-based rate determined by Hang Seng Insurance from time to time for exercising the currency conversion option².
12. The policy amount is used to determine the premiums payable under the policy, and the guaranteed cash value and special bonus (if any) receivable under the basic plan of the policy. The policy amount does not represent the death benefit or the cash value of your policy.
13. Relationships generally having sufficient “insurable interest” include a spouse, children below the insured age¹⁴ of 18 and their parents/legal guardians.
14. Insured age means, on any day, the age of the insured person or policyholder (if applicable) at his or her last birthday on or before the policy date or the relevant policy anniversary, if the birthday falls on the same day.
15. If the policyholder surrenders the policy after the expiry of the cooling-off period and after the policy has taken effect, the amount available on surrender may be less than the total premiums and premium levy paid. For details, please refer to the policy summary. If the policy is surrendered during the policy term, the policyholder may receive the net cash value¹⁶ (if any) calculated as at the date of processing the surrender, plus the special bonus (if any) and policy value management proceeds balance (if any). In the event of partial surrender, the policy amount¹² and total premiums paid¹⁷ under the basic plan of the policy will be adjusted and reduced proportionally, and the calculation of the guaranteed cash value, special bonus (if any) and death benefit will also be adjusted accordingly.
16. Net cash value means, at any time, an amount equal to the guaranteed cash value less indebtedness (if any).
17. Total premiums paid means the total amount of basic plan premiums due and paid.

Disclosure

All the specified life insurance plans above are underwritten by Hang Seng Insurance. Hang Seng Insurance is authorised by and subject to the regulation of the Insurance Authority to carry on business in Hong Kong, and is a wholly owned subsidiary of Hang Seng Bank.

The Plan is underwritten by Hang Seng Insurance. The above advertising materials are provided by Hang Seng Bank and Hang Seng Insurance and are for reference only. The Plan is intended for sale only in the Hong Kong Special Administrative Region and should not be construed as an offer, solicitation or recommendation to provide, sell or solicit the purchase of any products of Hang Seng Insurance outside Hong Kong. For important information on the details, terms, provisions and exclusions of the Plan, please refer to the relevant promotional brochure or leaflet, which shall be subject to the policy terms. For the relevant product risks, please refer to the product brochure. The policyholder is subject to the credit risk of Hang Seng Insurance. If the policyholder terminates the Plan and/or surrenders the policy during the early policy period, the amount recovered may be substantially less than the premiums paid. All details relating to surrender shall be subject to the relevant policy terms. The product is a product of Hang Seng Insurance, not Hang Seng Bank. If you have a qualifying dispute with Hang Seng Bank during the sales process or in handling transactions relating to the product (as defined in the Terms of Reference of the Financial Dispute Resolution Centre relating to the Financial Dispute Resolution Scheme), Hang Seng Bank will engage with you in the Financial Dispute Resolution Scheme process. However, any dispute concerning the contractual terms of the insurance product should be resolved directly with Hang Seng Insurance. If the policyholder surrenders the policy at any time after the expiry of the cooling-off period, the amount available on surrender may be less than the total premiums paid. The expected amount available on surrender may be found in the policy summary.

For more information about Prestige and the supplementary Family+ account, please click here

• Global Money+ overseas remittance service: Hang Seng Bank will update the designated countries or regions and local currencies from time to time. When remitting funds to certain designated countries/regions, specific requirements may need to be met for the fees to be waived. For details, please refer to the Hang Seng Bank website ＞ “Banking Services” ＞ “Remittance and Payment Services” ＞ “Overseas Remittance”.
• Customers can learn more about the fees through the Hang Seng Wealth and Personal Banking Services Fees summary.
• The actual time for funds to be credited depends on the processing time of the receiving bank or correspondent bank (if any).
• ^#Hang Seng Multi-Currency Mastercard® Debit Card: You may apply for up to 6 supplementary debit cards. The default daily spending limits for the primary debit card and supplementary debit cards are HKD100,000 or the equivalent amount in another currency, respectively.
• ^##Hang Seng Multi-Currency Mastercard^® Debit Card: Overseas local banks may charge customers a surcharge (if applicable).

Foreign Currency Exchange Risk

Foreign currency exchange involves exchange rate risk. When customers convert deposits from Hong Kong dollars or a foreign currency into another currency, fluctuations in foreign exchange rates may result in profits or losses on the principal. If you need to convert the foreign currency into another currency, including Hong Kong dollars, after the maturity of a foreign currency time deposit, the deposit amount may result in a profit or loss due to changes in the foreign currency exchange rate at that time. 

10Life is not authorised as an insurance intermediary of Hang Seng Insurance and will not conduct any regulated activities specified in the Insurance Ordinance (Cap. 41).

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This English version of this article has been generated by machine translation powered by AI. It is provided solely for reference purposes. In the event of any discrepancy or inconsistency between this translation and the original Chinese version, the Chinese version shall prevail.