AXA launches ‘Digital Enrolment System’

Customers can easily apply tax-deductible products online and enjoy double benefits of tax concession and premium discount

AXA Hong Kong always puts ‘customers first’ and focuses on understanding customer needs. In view of the novel coronavirus (COVID-19) outbreak and aligning with the Insurance Authority’s temporary facilitative measures, AXA Hong Kong is rolling out a non-face-to-face sale process (the ‘Digital Enrolment System’) for new applications for Qualifying Deferred Annuity Policy and VHIS Products, helping customers to purchase tax-deductible products in a safe and convenient environment before 31 March 2020, so as to enjoy tax concession for the assessment year.

Starting from today, Hong Kong residents who are staying in Hong Kong* can easily apply for AXA ‘Voluntary Health Insurance Scheme’ (VHIS) and ‘Qualifying Deferred Annuity’ products digitally. AXA’s financial consultants will provide support and explain the product details and relevant information to customers via digital means, such as phone, email to assure they will fully understand these products before choosing the right protection. The company’s financial consultants will also assist customers in the application process, making the entire procedure easier and more flexible during this period. Alternatively, customers can also choose to submit their applications by mail or meet with a financial consultant to complete the sales process in accordance to their preference and personal circumstances.

Sally Wan

Chief Executive Officer, AXA Hong Kong and Macau

“AXA began offering the Voluntary Health Insurance Scheme (VHIS) and Qualifying Deferred Annuity Plan last year and they have been well-received in the market and have gained encouraging results. For VHIS, 90% of those insured have chosen our flexi plan, and nearly 40% of the VHIS customers aged 20-39. The figures reflect the strong demand from customers for comprehensive medical protection and show that more young people are concerned about their health and wellbeing. For AXA’s qualifying deferred annuity plan, most customers who purchased the plan are under 55 showing their intent to use the product to save up to achieve their life goals and to prepare for their retirement. In view of the current coronavirus situation, we are launching the Digital Enrolment System in view of the Insurance Authority’s temporary facilitative measures and to enable our customers to apply for insurance protection in a safe environment.This way, we can ensure that they can not only enjoy our offer but also the tax concession before the end of the assessment year.”

Offering up to 6 months’ premium discount and enjoying tax deduction benefits

AXA has launched the ‘Wonderful Year’ programme, providing a series of premium discount offers to customers over this challenging times. From now to 30 April 2020, if customers successfully apply for the ‘AXA WiseGuard Pro Medical Insurance Plan’ and qualifying deferred annuity policy/supplement, with the required annualised first year premium, and satisfying other applicable requirements, they may enjoy up to a total of 6 months’ premium discount*.

Moreover, given each taxpayer can enjoy tax deductions on qualifying premiums paid for the Qualifying Deferred Annuity Policy and Voluntary Health Insurance Scheme, customers who successfully apply for both the ‘AXA WiseGuard Pro Medical Insurance Plan’ and qualifying deferred annuity plan can enjoy a tax deduction of up to HK$68,000^ annually. Customers enrolling now in these plan can benefit from the premium discount, the tax benefits and get comprehensive protection in one go.

For information on the AXA ‘Wonderful Year’ programme, please visit www.axa.com.hk.

To learn more about the ‘Digital Enrolment System’, please contact the AXA 24-hour Customer Service Hotline (852) 2894 4701.

AXA Hong Kong is committed to work with the people of Hong Kong to fight the novel coronavirus and protect their health and wellbeing. We will continue monitor and to provide appropriate support in the face of any new developments.

*Subject to relevant terms and conditions.

^HK$68,000 is the maximum tax deductions per individual taxpayer per year for Voluntary Health Insurance Scheme (excluding specified relatives), Qualifying Deferred Annuity Policy premiums and MPF tax deductible voluntary contributions. For details on tax deductions, please visit Inland Revenue Department ird.gov.hk, and to consult your tax/accounting advisors for professional advice.