HKMC Annuity Mr. Well-Planned FAQs-Answered Series: Questions about Application

Mr. Well-Planned bumped into his running buddy, Mr. Wong, who has also retired. Mr. Wong knows that Mr. Well-Planned not only has good stamina, but also meticulously prepares for every step. He planned his retirement finances well in advance by applying for the HKMC Annuity Plan once he turned 60. This ensures his physical and financial strength remain robust, as he needs money to pay for enrollment fee for each race, and to purchase running shoes, energy drinks as well as protein bars. 

Every penny counts, so Mr. Wong is interested in applying for an annuity plan too. However, he worries that the application procedures might be cumbersome, so he turns to Mr. Well-Planned for advice.

Mr. Wong: Where can I apply for the HKMC Annuity Plan? Through a bank?

Mr. Well-Planned: Not necessary. You can reach out to the HKMC Annuity Limited (HKMCA) to schedule a sales meeting for the HKMC Annuity Plan application!

Simply call the HKMCA hotline at 2512 5000, or visit  www.hkmca.hk to schedule a sales meeting. Once your appointment is confirmed, you can visit the HKMCA Customer Service Center, where a licensed HKMCA sales representative will help you understand the HKMC Annuity Plan and conduct a financial needs analysis before assisting you with the application.

Mr. Well-Planned's tips: When the HKMC Annuity Plan was launched in 2018, customers were required to apply through a bank. However, you can now apply with the HKMCA directly. Existing HKMCA customers wishing to "top-up" should take note.

Mr. Wong: Where are the HKMCA customer service centres? What are the office hours?

Mr. Well-Planned: HKMCA has three customer service centres

• Suites 3202-05, 32/F, Tower One, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong
• 19/F, Two Harbour Square, 180 Wai Yip Street, Kwun Tong, Kowloon, Hong Kong
• 22/F, 909 Cheung Sha Wan Road, Lai Chi Kok, Kowloon, Hong Kong

Office Hours: Monday to Friday, 9 a.m. to 6 p.m. (except public holiday)

Mr. Wong: I often run along the Kwun Tong Promenade. Perhaps I can drop by and apply after my training?

Mr. Well-Planned: You need to register in advance for races, let alone applying for an insurance plan. I suggest scheduling an appointment to confirm the meeting date and time beforehand.

Mr. Wong: Is the application procedure of HKMC Annuity Plan complicated? 

Mr. Well-Planned: The procedure is quite simple. On the day of the sales meeting, a licensed sales representative from the HKMCA will:

• conduct a financial needs analysis
• explain the content, features, and potential risks of the HKMC Annuity Plan
• explain the premium amount, and the guaranteed monthly annuity income you can receive

If you fully understand the above and decide to enroll, you can fill out the application form to proceed further.

Mr. Wong: Do I need a medical examination to apply for the HKMC Annuity Plan?

Mr. Well-Planned: No medical examination is required.

Mr. Wong: What documents should I bring for the sales meeting and application?

Mr. Well-Planned: Remember to bring the "Three Essentials for Application"

• Original copy of Hong Kong Permanent Identity Card
• Proof of personal bank account for receiving the monthly annuity income (such as a bankbook showing the account holder's name in English and account number, or a bank statement issued within the last 3 months)
• Full name and Hong Kong ID number of the designated beneficiary (if applicable)

Mr. Well-Planned's tips: If you wish to pay premiums by cheque, bring your chequebook; if you want to pay via bank transfer or cashier's order, dedicated staff will offer you the details.

Disclaimer: The HKMC Annuity Plan is a life insurance product subject to terms and conditions and involves risks. The information above is for reference only and intended for use in Hong Kong only. It shall not be construed as an offer to sell, solicitation to purchase or provision of any products outside Hong Kong by the HKMCA.