Insurance
This webpage is intended to be valid in Hong Kong only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Hong Kong. Prudential and Standard Chartered do not offer or sell any insurance product in any jurisdictions outside Hong Kong in which such offering or sale of the insurance product is illegal under the laws of such jurisdictions. This webpage does not constitute a contract of insurance or an offer, invitations or recommendation to any person to enter into any contract of insurance or any transaction described therein or any similar transaction.

The life insurance plans are life insurance products and are not bank deposit. They are underwritten by Prudential Hong Kong Limited (Part  of Prudential plc (United Kingdom)) (“Prudential”). Some of these plans may have a savings element and are not an alternative to ordinary savings or time deposits. Part of the premium pays for the insurance and related costs. Standard Chartered Bank (Hong Kong) Limited (“Standard Chartered”) is an insurance agent of Prudential.

You can always choose to take out the above-mentioned plan(s) as a standalone plan without enrolling with other type(s) of insurance product at the same time, unless such plan(s) is/are only available as a supplementary benefit which needs to be attached to a basic plan. If you want to know more about all other eligible tax deduction products provided by Prudential or other companies that cooperate with the Bank, please inquire with the Bank Staff.

The material and information contained on this webpage should be read in conjunction with the relevant product brochure and for the risk disclosure, please refer to the product brochure.

MPF
This webpage does not constitute any offer, invitations or recommendation to any person to enter into any scheme or any transaction described therein or any similar transaction. This webpage has not been reviewed by the Securities and Futures Commission or any regulatory authority in Hong Kong.

Standard Chartered Bank (Hong Kong) Limited is a distributor of the MPF scheme, a product of Manulife (International) Limited (Incorporated in Bermuda with limited liability) (“Manulife”). In respect of an eligible dispute arising between the Bank and the customer out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however, any dispute over the governing rules of Manulife’s MPF scheme should be resolved directly between Manulife and the customer.

Investment involves risk. Price of units of any constituent funds and the income from them may go down as well as up. Past performance is not an indicative of future performance. Before making any investment decision to invest in a scheme, members should read the MPF Scheme Brochure for more detailed information (including risk factors, fees and charges) on the scheme and its constituent funds. Investors should ensure they fully understand the risks associated with the scheme and should also consider their own investment objective and risk tolerance level. If in doubt, please seek independent financial and professional advice.

Tax
All of the above general tax information provided is for reference only, whether to apply for insurance coverage or TVC is your own individual decision. You should always consult with a professional tax advisor if you have any doubts. Please note that the tax law, regulations or interpretations are subject to change and may affect related tax benefits including the eligibility criteria for tax deduction. We do not take any responsibility to inform you about any changes in the laws and regulations or interpretations, and how they may affect you. You must meet all the eligibility requirements set out under the Inland Revenue Ordinance and any guidance issued by the Inland Revenue Department of the Hong Kong Special Administrative Region before they can claim the relevant tax relief. Please note that the Plan may be sold to the person(s) aged 65 or above, who may have plan to retire or retired during the premium payment period of the Plan. In this case, you may wish to further visit your eligibility of tax deduction for your premiums paid during the premium payment period and seek your independent tax advice as appropriate. For further information on tax concessions applicable to Qualifying Deferred Annuity Plan / VHIS plans / TVC account, please refer to https://www.ia.org.hk/en/ or https://www.vhis.gov.hk/en/ or https://www.mpfa.org.hk/en/.

1. Designated Prudential Voluntary Health Insurance Plan coverage are subject to plans, please refer to relevant product brochure and policy document and read carefully.
2. The maximum tax-deductible amount of each Hong Kong taxpayer is HKD60,000 per assessment year under salaries tax and personal assessment. This is an aggregate limit for both Qualifying Deferred Annuity Plan and MPF Tax Deductible Voluntary Contribution annuity premium in aggregate. The total deduction of HK$120,000 can be divided among married couples, but both must be Hong Kong taxpayers, and the deduction applied by each taxpayer cannot exceed the personal limit. HK$8,000 is the upper limit of tax deduction for each insured person of approved products under the Voluntary Health Insurance Scheme. The illustration of tax savings for a married couple of HKD23,120 is calculated by (HKD68,000 x 2) x 17% where 17% represent the maximum tax-deductible amount and the current highest progressive tax rate respectively. However, please note that this is for illustration only; in particular, not every taxpayer will enjoy HKD23,120 in tax savings as the actual amount of tax savings varies, depending on, for example, the taxpayer’s net taxable income, applicable tax rate, tax allowances and deductions entitled as well as the premium amount of TVC, Qualifying Deferred Annuity and Voluntary Health Insurance Scheme premiums, etc. The above figures are for reference only. The issuance of this plan does not necessarily mean you are eligible for any tax deduction for the premiums you have paid for this plan. For further information on tax deduction of this plan, please contact the Inland Revenue Department. We cannot provide you with any tax advice. If you have doubts, you should seek professional advice. Policyholders must meet all the eligibility requirements set out under the Inland Revenue Ordinance and any guidance issued by the Inland Revenue Department of the Hong Kong Special Administrative Region before they can claim the relevant tax relief.
3. The promotion period is from 1 January 2026 to 31 March 2026. Terms and conditions apply.
4. For details of the refund, please refer to the terms and conditions of Prudential Life Insurance Plan (VHIS and Medical Plan) Promotion Flyer.
5. Calculation for reference only. The Rule of 300 is derived from “4% Rule” introduced in 1998 to estimate the total amount of expenses you need after retirement, which is the annual expenses divided by 4% (assuming the annual investment returns are 4% and to be used as annual retirement expenses). For example, if the monthly expenses after retirement are $30,000, simply multiply $30,000 by 12 months and divide the amount by 4%, the total amount needed after retirement will be $9,000,000 ($30,000 x 300 times). Source: Philip L. Cooley, Carl M. Hubbard, and Daniel T. Walz (1998), Retirement Spending: Choosing a Sustainable Withdrawal Rate. The Journal of the American Association of Individual Investors, February 1998 issue.
6. Source: Calculated based on MPF Fund Platform from MPFA website as of 31 August 2020, in terms of the number of constituent funds of each MPF scheme.
7. Subject to the rules of the MPF scheme. Withdrawal upon retirement at age of 65 or on other statutory grounds under the MPF legislation.
8. Please refer to the Opt-in/Opt-out Request Form and the definition of Relationship Balance in the booklet of “Service Charges – An easy guide to banking fees”.
9. “Prudential”: Prudential Hong Kong Limited (Part of Prudential plc (United Kingdom))
10. “Standard Chartered”: Standard Chartered Bank (Hong Kong) Limited
11. “Manulife”: Manulife (International) Limited (Incorporated in Bermuda with limited liability)
12. The amount of the premium refund will be credited to the premium deposit account of the eligible policy in 4 batches (i.e., 1st batch: 7% , 2nd batch: 7%% , 3rd batch: 7%% , 4th batch: 7%). For details of the refund, please refer to clause 6 of the terms and conditions of Prudential Life Insurance Plan -PRURetirement Deferred Annuity Plan Promotion.

A. The above Promotion is subject to all the terms and conditions of the Promotion.
B. Levy payable will not be counted towards Premium Requirement.
C. Prudential and Standard Chartered shall have the right, without prior notice, to terminate the Promotion or to amend any of the terms and conditions as provided herein. In the event of any dispute, applicants accept that the final decision of Prudential and Standard Chartered shall be binding upon them.
D. In the event of any disputes regarding the eligibility for and entitlement to the offer, Manulife’s decision shall be final and conclusive.