Customers can easily apply tax-deductible products online and enjoy double benefits of tax concession and premium discount
HONG KONG, March 2, 2020 /PRNewswire/ — 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.
Enjoy tax concession from home through digital
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, said, "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.
ABOUT AXA HONG KONG AND MACAU
AXA Hong Kong and Macau, a member of the AXA Group, prides itself on serving over 1.3 million customers with our superior products and services. AXA is the top-tier life insurer in Hong Kong with the longest history. In addition to being the No. 1 global Property & Casualty commercial lines insurer, we are the No. 1 most considered insurance brand in Hong Kong. We are also one of the largest health protection providers in Hong Kong and Macau.
AXA is one of the most diversified insurers, providing a full range of coverage for individual and commercial customers. We offer all-round, integrated solutions across Life, Health and Property & Casualty to address all of our customers’ insurance needs. In keeping with our brand promise "Know You Can", AXA strives to be a lifelong partner to our customers by empowering them to achieve their goals and live better lives.
As an innovative insurer, we leverage on Big Data and AI to transform the customer experience end-to-end, making insurance simpler and more personal. We continue to drive innovation notably in health and protection, supporting customers in prevention, treatment and recovery.
We also believe it is our inherent responsibility to support the communities in which we operate. AXA Foundation is our flagship corporate social responsibility programme covering all our efforts in promoting holistic wellbeing and supporting the underprivileged to create a positive and lasting impact in the communities of Hong Kong and Macau.
 Including customers of AXA China Region Insurance Company Limited, AXA China Region Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability), and AXA General Insurance Hong Kong Limited
 Top tier insurers are defined based on the annualised premiums of Individual Direct New Business (Classes A to F) of Statistics on Hong Kong Long Term Insurance Business published by the Insurance Authority.
 AXA Corporate Solutions, AXA Matrix Risk Consultants, AXA Insurance Company, and AXA Art with AXA XL’s insurance and reinsurance operations combined
 AXA Hong Kong Brand Preference Tracking Report 2019
THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE: AXA.COM.HK
IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans, expectations or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA’s actual results to differ materially from those expressed or implied in such forward looking statements. Please refer to Part 4 – "Risk Factors and Risk Management" of AXA’s 2018 Registration Document, for a description of certain important factors, risks and uncertainties that may affect AXA’s business and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward looking statements, whether to reflect new information, future events or circumstances or otherwise, except as required by applicable laws and regulations.
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