Enjoy up to 8 months’ premium refund on AXA WiseGuard Pro Medical Insurance Plan*!
**For details, please refer to the relevant promotion leaflet. Terms and conditions apply.
Tax Deduction Tips
Qualifying Deferred Annuity Policy
Individual Taxpayer can enjoy up to : HKD 60,0001 tax deductible limit annually
The premium paid under Qualifying Deferred Annuity Policy (“QDAP”), which is certified by the Insurance Authority, is eligible for tax deduction.
Voluntary Health Insurance Scheme
Taxpayer can enjoy up to: HKD8,0002 tax deductible limit annually in respect of qualifying premiums paid for each insured person
Certified by the HKSAR Government, eligible plan under Voluntary Health Insurance Scheme (“VHIS”) allow policy holders to enjoy tax deductions for premiums for themselves and all specified relative(s).
AXA Tax Deductible Products
IncomeBliss Deferred Annuity Plan (“IncomeBliss”)
Offering a steady cash flow throughout your chosen annuity period together with advantages of tax saving capabilities, the IncomeBliss is tailored to give you the free rein to shape the future you want and design your own version of retirement bliss.
- Multiple flexible options to customise your retirement plan
- Recurring cash flow while retaining opportunities for potential wealth growth
- Tax savings to build more wealth for the future
- Peace of mind with life coverage and dementia protection
- Hassle-free application process for a smooth experience
AXA WiseGuard Medical Insurance Plan
WiseGuard is AXA’s VHIS Standard Plan that covers your essential medical needs according to VHIS standards and more. With WiseGuard, you’ll enjoy essential, quality protection backed by one of the largest insurers in the world. With AXA, you know you’re in safe hands.
- Guaranteed renewal up to age 100
- Annually refreshed benefit item limit with no lifetime benefit limit
- No waiting period
- Coverage for pre / post-confinement and day case procedure outpatient care
Smart Medicare
Smart Medicare is a VHIS Flexi Plan that gives you all the benefits of WiseGuard together with three tailored benefit levels to give you full flexibility on coverage. There is no limit to lifetime benefits and supplementary major medical cover is available as an option.
- Choice of 3 different benefit levels to meet your unique needs
- Optional supplementary major medical
- No claim discount
- Worldwide emergency assistance
AXA WiseGuard Pro Medical Insurance Plan
WiseGuard Pro is a VHIS Flexi Plan that offers a comprehensive range of benefits, such as full cover3 for hospitalisation surgical benefits, prescribed non-surgical cancer treatments and outpatient kidney dialysis without lifetime benefit limit, and no waiting period for unknown pre-existing conditions. WiseGuard Pro also offers a wide range of premium features to give you a well-guarded life.
- Full cover3 for hospitalisation and surgical benefits
- Full cover3 for prescribed non-surgical cancer treatments and outpatient kidney dialysis
- No waiting period for unknown pre-existing conditions
- Quadruple security with extra and optional protections
Discover AXA's powerful tax-saving duo
Uncover the tax-saving potential of QDAP and VHIS effortlessly through the TaxBliss Calculator, paving the way for a brighter financial prospect! Act now - explore the TaxBliss Calculator and take control of your financial future today!
How much can you save from QDAP and VHIS?
Case 1: Smart and worry-free tax planning
(Tax savings: HKD9,708)1, 2, 4
After 4 years in the workforce, 29-year-old Susan is ready to plan for her future. She is looking for both medical protection and finance security and takes advantage of any available tax deduction opportunities. To achieve this, she has decided to take out a WiseGuard policy along with an IncomeBliss policy.
Assume that the total annual income of Susan is HKD384,000 for the year of assessment.
Case 2: Enjoy peace of mind and maximising tax benefits
(Tax savings: HKD25,102)1, 2, 4
Upon entering the prime earning years and cherishing his family, Kelvin has decided to take out VHIS policies4 for himself, his wife and his beloved children. In order to maintain financial flexibility upon retirement, he has planned to secure deferred annuity policies4 for both himself and his wife. The plan not only serves as a financial management tool but also offers the advantage of tax savings.
Insured: Kelvin (age 35) and wife (age 34)
Insurance plans: WiseGuard Pro (Premier benefit level) (Deductible: HKD50,000) and IncomeBliss
Insured: Son (age 10) and daughter (age 6)
Insurance plan: Smart Medicare with supplementary major medical (Superior benefit level)
Assume that the total annual incomes of Kelvin and his wife are HKD816,000 and HKD132,000 respectively for the year of assessment.
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Disclaimer
Reward 3C - Max Wealth Insurance Plan (Lump Sum Payment) – Guaranteed Preferential Interest Rate
Reward 3C of the Promotion provides customers an offer of guaranteed preferential interest rate of 4.5% per annum△ on the prepaid amount for the 1st policy year.
To enjoy this offer, simply opt for lump sum payment arrangement and pay a lump sum payment with levy at the time of application of your Max Wealth Insurance Plan. The lump sum payment with levy to be applied as follows:
(i) pay for annual premium of the 1st policy year and the corresponding levy ; and
(ii) deposit fund in advance into the future premium deposit account for premium payment of the 2nd policy year (“Prepaid Amount”) and the corresponding levy. The Prepaid Amount will accumulate interest in the 1st policy year at a guaranteed preferential interest rate of 4.5% per annum in the future premium deposit account. At the end of the 1st policy year, the interest accrued will be credited to the future premium deposit account, and the Prepaid Amount and its accrued interest will be equal to the annual premium of the 2nd policy year and will be automatically deducted from the future premium deposit account to settle the annual premium for the 2nd policy year and the corresponding levy when due.
Table 3C
Max Wealth Insurance Plan (Lump Sum Payment) – Guaranteed Preferential Interest Rate | |
Designated Basic Plan | |
Designated Basic Plan | Max Wealth Insurance Plan ^ |
Guaranteed Preferential Interest Rate on the Prepaid Amount in the 1st Policy Year | |
Guaranteed Preferential Interest Rate on the Prepaid Amount in the 1st Policy Year | 4.5% per annum△,9 |
“First 10 Years TotalAssure Coverage Benefit” Programme for Selected Savings Plans Customers
If a customer (i) is a holder of and / or an insured under a basic plan of Max Wealth Insurance Plan and (ii) successfully applies for a TotalAssure Critical Illness Plan / TotalAssure Plus Critical Illness Plan within the Promotion Period, the customer may be entitled to the “First 10 Years TotalAssure Coverage Benefit” , subject to relevant terms and conditions as set out in the leaflet for the “First 10 Years TotalAssure Coverage Benefit” Programme for Selected Savings Plans Customers. For details, please refer to the relevant programme leaflet. Act now to seize this limited offer!
△The guaranteed preferential interest rate of 4.5% per annum is applicable to the Prepaid Amount only.
^ Only applicable to Max Wealth Insurance Plan with the Lump Sum Payment arrangement selected.
9. For details of Reward 3C, please refer to the section of Reward 3C of the Terms and Conditions stated in the promotion leaflet.
Max Goal II Insurance Plan Premium Discount
Table 3D
Max Goal II Insurance Plan Premium Discount | ||||||||
Designated Basic Plan | ||||||||
Designated Basic Plan | Designated Basic Plan | Max Goal II Insurance Plan | ||||||
Single Premium of Designated Basic Plan | ||||||||
Single Premium of Designated Basic Plan | Single Premium of Designated Basic Plan | Premium Discount Percentage on Each Eligible Basic Plan of Reward 3D# (% of Single Premium of Eligible Basic Plan of Reward 3D) | ||||||
Below USD500,000 | ||||||||
Below USD500,000 | Below RMB3,250,000 | Below HKD4,000,000 | 1%11 | |||||
USD500,000 - USD999,999 | ||||||||
USD500,000 - USD999,999 | RMB3,250,000– RMB6,499,999 | HKD4,000,000– HKD7,999,999 | 2%11 | |||||
USD1,000,000 or above | ||||||||
USD1,000,000 or above | RMB6,500,000 or above | HKD8,000,000 or above | 3%11 | |||||
11. For details of Reward 3D, please refer to the section of Reward 3D of the Terms and Conditions stated in the promotion leaflet.
#Please refer to the Terms and Conditions stated in the promotion leaflet for the definition(s).
Reward 3A – Wealth Advance Savings Series II – Ultimate / Wealth Ultra Savings Plan – Premium Refund
During the Promotion Period, if customer successfully submits application for a basic plan of Wealth Advance Savings Series II – Ultimate / Wealth Ultra Savings Plan, customer may be entitled to premium refund on future premium(s).
Table 3A
Wealth Advance Savings Series II – Ultimate / Wealth Ultra Savings Plan Premium Refund | |||||
Designated Basic Plans | |||||
Designated Basic Plans | Designated Basic Plans | Wealth Advance Savings Series II – Ultimate | Wealth Ultra Savings Plan | ||
Premium Payment Term | |||||
Premium Payment Term | Premium Payment Term | 5 years | 10 years | 8 years | |
Total AFYP of Designated Basic Plan and its Supplements (if applicable) (USD) | |||||
Total AFYP of Designated Basic Plan and its Supplements (if applicable) (USD) | Total AFYP of Designated Basic Plan and its Supplements (if applicable) (USD) | USD5,000 or above | |||
Premium Refund Percentage on Each Eligible Policy of Reward 3A# (% of the total AFYP of Eligible Policy of Reward 3A) | |||||
Premium Refund Percentage on Each Eligible Policy of Reward 3A# (% of the total AFYP of Eligible Policy of Reward 3A) | Premium Refund Percentage on Each Eligible Policy of Reward 3A# (% of the total AFYP of Eligible Policy of Reward 3A) | 5%7 | 10%7 | 7%7 | |
7. For details of Reward 3A, please refer to the section of reward 3A of the Terms and Conditions stated in the promotion leaflet.
#Please refer to the Terms and Conditions stated in the promotion leaflet for the definition(s).
Reward 2A – Designated Critical Illness Products Premium Refund
Table 2A
Designated Critical Illness Products Premium Refund | ||||
Designated Basic Plans | ||||
Designated Basic Plans | - TotalAssure Critical Illness Plan - TotalAssure Critical Illness Plan – Baby Pro - TotalAssure Plus Critical Illness Plan - TotalAssure Plus Critical Illness Plan – Baby Pro | |||
Premium Payment Term | ||||
Premium Payment Term | 10 years | 15 years | 20 years | 25 years |
Premium Refund on Each Eligible Basic Plan of Reward 2A# | ||||
Premium Refund on Each Eligible Basic Plan of Reward 2A# | 2 months6 | 2 months6 | 3 months6 | 3 months6 |
6. For details of Reward 2A, please refer to the section of Reward 2A of the Terms and Conditions stated in the promotion leaflet.
#Please refer to the Terms and Conditions stated in the promotion leaflet for the definition(s).
Tax Assessment1, 2, 4 (HKD) | |
Annual personal income | |
Annual personal income | 384,000 |
Basic allowance | |
Basic allowance | (132,000) |
Mandatory contributions to recognised retirement schemes | |
Mandatory contributions to recognised retirement schemes | (18,000) |
Originally - Taxable income | |
Originally - Taxable income | 234,000 |
Originally - Tax payable (a) | |
Originally - Tax payable (a) | 21,780 |
Tax deduction for qualifying VHIS premiums | |
Tax deduction for qualifying VHIS premiums | (2,054) |
Tax deduction for qualifying annuity premiums | |
Tax deduction for qualifying annuity premiums | (60,000) |
Now - Taxable income | |
Now - Taxable income | 171,946 |
Now - Tax payable (b) | |
Now - Tax payable (b) | 12,072 |
Tax savings (a) – (b) | |
Tax savings (a) – (b) | 9,708 |
Tax Assessment1, 2, 4 (HKD) | |
Annual household income | |
Annual household income | 948,000 |
Mandatory contributions to recognised retirement schemes | |
Mandatory contributions to recognised retirement schemes | (24,600) |
Married person’s allowance | |
Married person’s allowance | (264,000) |
Child(ren) allowance | |
Child(ren) allowance | (260,000) |
Originally - Taxable income | |
Originally - Taxable income | 399,400 |
Originally - Tax payable (a) | |
Originally - Tax payable (a) | 49,898 |
Tax deduction for qualifying VHIS premiums | |
Tax deduction for qualifying VHIS premiums | (27,654) |
Tax deduction for qualifying annuity premiums | |
Tax deduction for qualifying annuity premiums | (120,000) |
Now - Taxable income | |
Now - Taxable income | 251,746 |
Now - Tax payable (b) | |
Now - Tax payable (b) | 24,796 |
Tax savings (a) – (b) | |
Tax savings (a) – (b) | 25,102 |
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