ManuLeisure Deferred Annuity

Important Notes:

1. ManuLeisure Deferred Annuity is a long term participating life insurance plan underwritten by Manulife (International) Limited (incorporated in Bermuda with limited liability) (‘Manulife’). The content of this website does not contain the full terms of the policy, and the full terms can be found in the policy document. DBS Bank (Hong Kong) Limited (the “Bank”) is acting as a licensed insurance agency of Manulife.
2. The below is provided to you in the Bank’s capacity as an authorized institution regulated by the Hong Kong Monetary Authority.
   • ManuLeisure Deferred Annuity is a long-term participating life-insurance plan with a savings element. Part of the premium pays for the insurance and related costs. The savings element is reflected in the surrender value and may not be guaranteed. The product is aimed at customers who can pay the premiums for the whole of the premium payment period. As a result, you are advised to save enough money to cover the premiums in the future. You should be prepared to hold this product for the long term to achieve the savings target.
   • Qualifying Deferred Annuity Policy (‘QDAP’) status - Please note that the QDAP status of this product does not necessarily mean you are eligible for tax deduction available for QDAP premiums paid. This product’s QDAP status is based on the features of the product as well as certification by the Insurance Authority and not the facts of your own situation. You must also meet all the eligibility requirements set out under the Inland Revenue Ordinance and any guidance issued by the Inland Revenue Department of HKSAR before you can claim these tax deductions.
   • Certification by Insurance Authority – The Insurance Authority certification is not a recommendation or endorsement of the policy, nor does it guarantee the commercial merit of the policy or its performance. It does not mean that the policy is suitable for all policyowners, nor is it an endorsement of its suitability for any particular policyowner or class of policyowners. The policy has been certified by the Insurance Authority but this certification does not imply official recommendation. The Insurance Authority does not take any responsibility for the content of the product leaflet of the policy, makes no representation as to its accuracy or completeness, expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the content of the product leaflet of the policy.
   • Credit Risk - Any premiums you paid would become part of our assets and so you will be exposed to our credit risk. Our financial strength may affect our ability to meet the ongoing obligations under the insurance policy.
   • If you cash in the policy, the amount we will pay is the surrender value worked out at the time you cash in the policy, less any amount you owe us. Depending on when you cash in your policy (whether in full or part), this may be considerably less than the total premiums you have paid. You should refer to the proposal for the illustrations of the surrender value we project.
3. This webpage is only a reference. You should not base solely on this website to make decision on applying for the product. The risks disclosed above are not exhaustive and you should refer to the product leaflet, proposal and policy provision for the risk disclosures and exact terms and conditions and if in doubt, seek independent professional advice.
4. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Bank and the customer out of the selling process or processing of the related transaction, the Bank will enter into a Financial Dispute Resolution Scheme process with the customer.
5. This webpage is only for use in Hong Kong Special Administrative Region.