Life Insurance
Plan Early Today, Enjoy a Secure Retirement Tomorrow
As populations continue to age rapidly across the society, retirement planning has become an essential life priority that no one can afford to overlook. Converting today's savings into a stable and sustainable income stream for the future is key to supporting the daily expenses during retirement, and to maintaining quality of life in one's later years. The earlier you begin planning, the more you can benefit from the power of time, building a stronger foundation for the many years of retirement ahead.
Among the various retirement planning solutions available, annuity insurance is a life insurance product which stands out as a long term financial tool designed to convert your assets into predictable and steady income, helping you transit into a new life stage with greater confidence.
Annuity insurance products generally fall into two main categories—Immediate Annuities and Deferred Annuities—each offering distinct features to suit different life stages and retirement needs.
Immediate Annuities — For those nearing or already in retirement
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Immediate annuities are single‑premium retirement insurance products with no accumulation period. Annuity payments begin as early as the second month after the premium is paid. In general, features of immediate annuities include:
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Deferred Annuities — Grow your retirement income over time
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Deferred annuities are insurance products which include an accumulation period that allows your wealth to accumulate over time and begin receiving annuity payments at a designated age. Under Hong Kong's Qualifying Deferred Annuity Policy (QDAP) framework, the QDAP has below features:
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A well designed retirement plan should strike the right balance between security and flexibility. Before selecting the insurance product that suits your retirement needs, it is important to carefully assess:
Your financial circumstances and insurance needs
Your liquidity requirements
The terms and conditions of the insurance product and relevant risks
By starting early, you can strengthen your retirement safety net, and enjoy the freedom and peace of mind that come with a well-prepared retirement—for yourself and your loved ones.
^HKD60,000 is an aggregate maximum tax deduction limit for qualifying annuity premiums and tax deductible MPF voluntary contributions per taxpayer in each year of assessment.
For tax deduction, the requirements under the Inland Revenue Ordinance must be met. The information shown above is for reference only. Sun Life Hong Kong and Dah Sing Bank, Limited do not provide tax advice and you should consult an independent tax advisor for tax advice.
During promotion period, enjoy up to 1.5% premium discount on total premium or up to 20% premium rebate on annualized First Year Premium (collectively the "Offers")* for successful application of designated retirement planning life insurance plans (the "Plans") and fulfilling designated requirements.
*The Offers and the Plans are subject to relevant terms and conditions. For details of premium discount, please click here; for details of premium rebate, please click here.
Updated on 2026-04-10
Important Note
Dah Sing Bank, Limited ("Dah Sing Bank"), registered as a licensed insurance agency (Insurance Intermediary License No: FA3022), is the authorized licensed insurance agency of Sun Life Hong Kong Limited (Incorporated in Bermuda with limited liability) ("Sun Life HK") and distributes the insurance products for Sun Life HK.
The life insurance products distributed by Dah Sing Bank are underwritten by Sun Life HK and are products of Sun Life HK but not Dah Sing Bank. Life insurance products are not bank deposits nor bank saving plans with free life insurance coverage.
This webpage contains general information only. In addition, the information above is for reference only and does not contain the full terms of the relevant products. It is intended to be published in Hong Kong only. It shall not be construed as an offer, solicitation or recommendation to provide or sell or a solicitation to purchase any insurance plans.
Customers should choose relevant insurance product according to their own or actual needs and their financial affordability. Customers should read, fully understand and accept the terms and conditions, policy coverage, policy exclusions, premium, key product risks, important notes, policy dividends (if applicable), investment policy (if applicable), etc. stated in the relevant documents and policy contract before applying for any life insurance plans. For more details of the product features including the risk disclosure, please refer to product brochure.
Please refer to a sample policy contract, which will be provided upon request by Sun Life HK, for details including definitions, full terms and conditions, and exclusions. Sun Life HK is solely responsible for all coverage and compensation, and reserves the right of final approval of the relevant insurance plan. Policyholders are subject to the credit risk of Sun Life HK. If policyholder discontinues and / or surrenders the life insurance plan in the early policy years, the amount of the benefits the policyholder will get back (if any) may be considerably less than the amount of the premium the policyholder has paid. The past, current, projected and / or potential benefits and / or returns (e.g. bonuses, non-guaranteed coupons, interests) are not guaranteed and are for illustrative purposes only. The actual future amounts of benefits and / or returns may be lower than or higher than the currently quoted benefits and / or returns. If there is any conflict between the policy contract and this email, the policy contract shall prevail.
In respect of an eligible dispute (as defined in the Terms of Reference for Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between Dah Sing Bank and the customer out of the selling process or processing of the related transaction, Dah Sing Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer.
The service(s) / product(s) mentioned herein is / are not targeted at customers in the EU.
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