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說到購買保險，相信很多人第一時間都會想起人壽保險。這一節「長者法網智多聲」，就為大家說說人壽保險保甚麼，購買時有甚麼要注意。
人壽保險是保險公司與投保人訂立的合約，一旦投保人過身，保險公司就會根據仍然生效的保單，向指定的受益人支付特定金額。人壽保險亦可以附加其他保障項目，例如危疾或傷殘保險，亦可以有儲蓄成份。投保人需要定期付保費，好像是每個月、每季或每年支付。
香港有很多種類的人壽保險，例如定期壽險、終身壽險、儲蓄壽險、投資相連計劃、傷殘保障計劃和危疾保險等等。
與醫療保險一樣，人壽保險的保單，都會列明特定的不保事項，所以投保人一定要留意保單的條款和細則，了解一下有甚麼是不保的，亦要留意賠償限額。不保事項一些常見例子，包括重大失實陳述、自殺、欠交保費、參與危險活動等等。
如果想知道各種壽險的特點，以及還有甚麼常見的不保事項，可以到長者社區法網文字版參考，想再詳細了解，就要看清楚人壽保險公司提供的壽險內容了。
購買人壽保險之前，有很多東西要考慮的，好像是要衡量個人財政需要、目前是否有購買其他保險、保單合約期的長度、您可以負擔多少保費、以及保單有多少賠償、賠償種類等，還要看看如果退保或提早取回保費是否要罰款。如果經紀遊說您「轉保」，有甚麼潛在風險呢？
即使買了壽險，還有機會改變主意的，因為客戶會有冷靜期，可以在指定時限內，撤銷保單和取回保費。我們在長者社區法網文字版，列出一些購買壽險要注意的事，供大家參考。
無論購買甚麼保險，保險合約是建基於信任，投保人有責任向保險公司披露所有實情和交代所有資料，讓保險公司可以準確地評估風險，保險公司亦相信保單持有人會這樣做，這叫「至誠原則」。如果資料不齊全或有錯，又或是保單持有人沒有遵守保單條款，保單就可能無效了。
保險公司核保期間，如果懷疑投保人違反至誠原則，就有可能惹起爭議。這個情況下，投保人可以翻查保單是否包含「不可爭議條款」，即列明如漏報事實不涉及欺詐，只要投保人還在生，保險公司便不能在保單生效一段指定時間之後，例如保單生效兩年之後，才表示拒絕承保。不可爭議條款可以保障消費者，以免保險公司以受保人違反至誠原則為理由，逃避賠償責任。
除了人壽保險，醫療保險也是很常見的保險，我們在長者社區法網也有介紹，有興趣的老友記，可以到我們網頁了解。多謝大家收聽。
PrintQuestions and answers
1. The insurance company appointed a doctor for my medical check-up before approving my insurance application. The doctor failed to discover a health problem that I did not disclose in my application form. Can the insurance company deny my claim based on the non-disclosure principle if subsequently I make a claim related to the health problem under the insurance policy?
Under the principle of “Utmost Good Faith”, the insured person or the policyholder has the duty to disclose to the insurance company all the information relating to the purchase of the insurance.
Therefore, irrespective of there having been a medical examination conducted by a doctor appointed by the insurance company who failed to diagnose the health problem, the insurance company may still deny your claim. This is particularly so if your non-disclosure is material and affected the assessment of your risk profile by the insurance company.
2. Can I get back my insurance premium before my death under a Life Insurance Policy?
Refer to the terms and conditions of your Life Insurance Policy to check whether there is any provision for redemption of the insurance premium before the death of the policyholder.
Some Life Insurance Policies offer a Guaranteed Cash Value that accumulates throughout the policy term. You can receive it in a lump sum if you terminate the policy or when the plan matures and terminates once the insured person reaches a certain age.
3. My insurance agent asked me to transfer my existing Life Insurance Policy to another insurance company. Would there be any potential losses arising from such a transfer?
Prior to switching your Life Insurance Policy to another insurance company, you should be careful that your agent is not making inaccurate or misleading statements or comparisons to persuade you to switch. This is not uncommon, as your agent may earn a commission from your switching to another insurance company (where the agent is also switching to a new insurance company).
There are two major matters that you must consider carefully.
Firstly, in connection with your application for the new insurance, you will be required to answer questions about your health, occupation and lifestyle. If the new insurance company rejects your application because of any of the updated information disclosed in the application, you may be required to inform your existing insurance company of the rejection and the reason(s) under the “change of circumstances” clause (if any) in your existing policy. This may lead to your existing insurance company canceling your policy or requiring you to pay a higher premium.
Secondly, the new policy may contain different provisions and the “incontestable period” under the new policy may start afresh. The worst case is the possibility of a claim being rejected under the new policy which would otherwise have been paid under the existing policy.
In order to protect consumers against the above risks, there is a requirement for them to complete the Customer Protection Declaration Form (the “CPD Form”), which can be downloaded from the website of the Hong Kong Federation of Insurers. Where there is a switching or replacement of a policy, the insurance agent must declare on the CPD Form that he/she has fully explained the possible risks to the client. The client must also declare that he/she understands these risks. In this case, the cooling-off period is 14 days from the date a copy of the CPD Form is delivered to the existing insurance company by the new insurance company.
In summary, make sure that your insurance agent is not making inaccurate or misleading statements or comparisons to persuade you to switch. Any additional genuine and legitimate benefit available under the new policy may make it worth switching, but you must be clear on the potential risks and what can be done to manage these risks.
4. What is the difference between a “revocable beneficiary” and an “irrevocable beneficiary”? Under what circumstances can I change an irrevocable beneficiary in my Life Insurance Policy?
The beneficiary in a Life Insurance Policy is the person(s) who will receive the death benefit from the insurance company upon the death of the insured person. There is a “Beneficiary Designation” section in Life Insurance Policies in which the policyholder names the party or parties as the beneficiary or beneficiaries who will receive the proceeds of the death benefit.
A revocable beneficiary designation gives the policyholder the right to change the beneficiary without the consent of the named beneficiary.
An irrevocable beneficiary designation does not give the above right. That is to say, the consent of the named beneficiary must be obtained before the policyholder can change the beneficiary. The policyholder can only change the beneficiary if the named irrevocable beneficiary shown on the policy consents to the proposed change.
5. My son is now 15 years old. Can I name him as the beneficiary in my Life Insurance Policy? Would he be entitled to receive all the proceeds if I die before he reaches the age of majority (i.e. the age of 18)?
Yes, you can name your son (who is a minor) as the beneficiary of your Life Insurance Policy.
You should arrange to name a guardian and/or trustee to receive and manage the proceeds on his behalf until he reaches the age of majority, after which he can inherit all the proceeds directly.
6. The insured person has disappeared for several years. Can the beneficiary submit a claim for the death benefit under the relevant Life Insurance Policy?
Firstly, if the beneficiary is in a legal position to do so (e.g. he/she is the spouse, parent or child of the insured person), the beneficiary must obtain a court declaration that the insured person is legally dead. In Common Law, a person is considered legally dead if the person has disappeared for seven years or more, unless there is any evidence to the contrary.
Once the court issues a declaration that the insured person is legally dead, the beneficiary can submit a claim to the insurance company for the death benefit. Regarding the procedural details on how to apply for a court declaration, please consult a solicitor.
7. If my insurance policy has lapsed and I try to “reinstate” my policy by paying the premiums again, can I submit any claims to the insurance company at this stage?
Usually there is a “reinstatement” clause which provides that a Life Insurance Policy that has lapsed (usually due to non-payment of premiums) can be reinstated provided that certain conditions are met.
It may be less expensive to reinstate a policy than to purchase a new one. The premium for a new policy would likely be more expensive since the insured person would have grown older. Therefore, the person’s risk profile would likely fall into a higher premium category.
The insured person may need to show to the insurance company evidence of insurability (e.g. a satisfactory medical report). This condition is usually waived for lapses of less than two months.
During the time in which the policy reinstatement is being processed, any claim submitted would be held pending the approval of the reinstatement application by the insurance company.
8. Can I change the beneficiary of my life insurance policy by stating that in my will?
Once a person has purchased a valid policy, the entitlement to the proceeds is controlled by the policy itself. It falls outside the estate and a policyholder generally cannot alter the beneficiary through his will. If he/she wants to change the policy beneficiary, it has to be done through the policy issuer.
9. How should I keep my life insurance policy? Do I need to inform anyone that I have purchased life insurance?
It would be advisable to keep the life insurance policy in a bank safe-deposit box or in another safe place. It would also be advisable to give a copy of your life insurance policy to the intended executor of your estate and/or the beneficiaries, as you deem appropriate, so that someone whom you trust knows about the policy and will take active steps to make a claim with the insurance company after your death.
It is appropriate and prudent to inform someone you trust that you have purchased a life insurance policy; otherwise, if no one knows about the existence of the Policy, it may go unclaimed. Another consideration is that the insurance company may not know the insured person has passed away.
10. Does the beneficiary need to supply the insurance company with the original of the life insurance policyin order to make a claim or will a copy suffice?
For some insurance companies, producing the original life insurance policy is not essential for a claim payout under the Policy. You need to check the terms under the Policy.
11. Is there a time limit for making a life insurance claim?
In the normal course of events, there is no time limit to claim a life insurance policy. However, it would be prudent to check the terms of the policy to see if any time limit is imposed.
In practice, some insurance companies have on hand life insurance policies taken out 100 years ago which no one has yet claimed, so they have teams that search for the relevant beneficiaries.
In any event, you should check the terms of your own life insurance policy for the time limit, if any.