“WeSave S3 Insurance Plan” provides a guaranteed return, together with additional flexibility for you to achieve short-term savings target. Surrender any time with no extra charge.

Yes, the crediting interest rate is guaranteed for the entire benefit term.

The “2.3%p.a.” refers to the guaranteed average annualized rate of return should the policy be held for its entire five-year benefit term with a lump sum payment. Please note that “WeSave Insurance Plan S3” is a savings insurance plan, not a Bank savings product.

Interest will accumulate from the date we receive your first premium, and will be calculated on a daily compound basis according to the guaranteed crediting interest rate.

No, you can withdraw your total Account Value – including any paid premiums and crediting interest – at any time before the policy matures, without penalty.

Death Benefit is payable if the Life Assured individual dies during the plan’s duration. The benefit is equivalent to 101% of the Account Value.

If the death of the Life Assured individual is caused by an accident, we will pay an Accidental Death Benefit equivalent to 100% of the Account Value. This is in addition to Death Benefit, and is subject to a maximum of USD125,000 per Life Assured individual across all “WeSave S1 Insurance Plan”, “WeSave S2 Insurance Plan”, and “WeSave S3 Insurance Plan” policies.

If the Life Assured individual sustains an injury resulting in their death within 180 days from the date of the accident, an Accidental Death Benefit will be paid together with Death Benefit to your nominated beneficiary.

Account Value equals the total premiums paid, plus crediting interest.

US Dollar. This is also the only currency in which benefits accrued are recorded and calculated.

While the policy is in force, the money amount that you may receive is your benefits, which include Account Value, Maturity Benefits, Surrender Benefit, Death Benefits (if applicable) and Accidental Death Benefit (if applicable).

Please refer to Policy Provisions for more information about your benefits.

Currency exchange rates are market-based, and are solely determined by Blue from time to time. Please click here for more about current exchange rate.

US Dollar is the sole plan currency, and cannot be changed; however you may choose to pay premiums and receive benefits in either HK or US Dollars, subject to specific payment methods.

Premium amounts cannot be altered, however, you may consider applying for an additional policy for extra savings potential, subject to the maximum Aggregated Annualized Premium.
Please note that the maximum premium amount is subject to an Aggregated Annualized Premium of USD 250,000 per Life Assured individual over all “WeSave S1 Insurance Plan”, “WeSave S2 Insurance Plan”, and “WeSave S3 Insurance Plan” policies.

Yes. The minimum premium amount per policy is USD4,000, while the maximum premium amount per Life Assured individual is USD 250,000.

Please note that the maximum premium amount is subject to an Aggregated Annualized Premium of USD 250,000 per Life Assured individual over all “WeSave S1 Insurance Plan”, “WeSave S2 Insurance Plan”, and “WeSave S3 Insurance Plan” policies.

Once all the required information is received, the policy will be in force within two working days.

Face-to-face verification is part of our Customer Due Diligence process.

Customer Due Diligence includes any exercise that our company is required to perform to fulfil our regulatory duty, including but not limited to Anti-Money Laundering, Counter-Terrorist Financing and other tax and financial reporting obligations.

Customer Due Diligence includes taking steps to identify our customers, verify the information provided against their identification documents, and to obtain relevant information to understand customers’ profiles, as well as the intended purpose and nature of the business relationship.

Relevant information includes, but not limited to: customer name, photograph, residential address, nationality and date of birth. Accepted identification documents may be in the form of identity card, travel documents, or other relevant documents.

If you are required to assist us to complete a Customer Due Diligence exercise, we may request you to visit our office during business hours to provide the necessary documents and to verify your identity in person within 30 working days of the Policy Issue Date.

Customer Due Diligence, including face-to-face verification, may only be arranged at our office.

Payment methods are as follows:

Payment methodCurrency allowed
Online payment through HSBCHKD
ATM payment through HSBCHKD
Phone Payment through HSBCHKD
Bank Transfer HKD
ChequeHKD/USD

No official receipt will be issued; however you may refer to your bank or credit card statement for transaction records.

You may cancel your policy by sending us a written notice within 21 days of policy delivery date, or issuance of a notice to you informing you of policy availability – whichever is earlier.

Cancellation during this cooling-off period will result in a full refund of premium(s) and levies paid without interest.

You can request to surrender your policy via our customer service portal. This will terminate your policy and you may get back your entire Account Value at any time.
Under certain circumstances, you may be invited for face-to-face identity verification to complete this surrender request. Benefit will then typically be paid within two weeks, either by cheque, by bank transfer, or through Faster Payment System (FPS).

You may view your Account Value at any time via our customer service portal.

We will pay you a Maturity Benefit equal to the Account Value after the policy maturity date, by cheque or bank transfer.

No.

You may designate the beneficiary at any time via our customer service portal. Simply go to the policy details, then designate beneficiary and submit personal information of your beneficiary.