Policy Reverse Mortgage Programme

Policy Reverse mortgage enables customer to use his / her life insurance policy as collateral to borrow from a lender. Customer will receive monthly payouts over a chosen payment term.

  • Offers greater financial flexibility after retirement

 

 

Offers Greater Financial Flexibility After Retirement

  • Flexible payment term - Customer can choose to receive monthly payouts for either a fixed period of 5, 10, 15 or 20 years or entire life according to his / her own needs.
  • Lump-sum loan - In addition to monthly payouts, customer may also apply to borrow lump-sum loan(s) to suit the customer’s personal needs.
  • No repayment during lifetime - Customer does not need to repay the outstanding loan amount during his / her life, unless the policy reverse mortgage loan is terminated under certain specified circumstances.
  • No penalty for early full repayment - Customer may fully repay the outstanding loan amount and redeem the life insurance policy at any time, and there is no penalty for such full repayment.

 

For details, please call our Hotline at +852 2278 3399

 

 

Reminder: To borrow or not to borrow? Borrow only if you can repay!

Terms and Conditions:

  • The above information is for reference only. The Bank and / or The Lender may at its absolute discretion approve or reject any application for credit facilities and mortgage and may decline any application without assigning any reason. The credit facilities and mortgage shall be subject to the terms and conditions set out in the facility letter and mortgage documents.
  • As a lender, The Hong Kong Mortgage Corporation Limited will grant loans to applicants at its absolute discretion and retain full contral over loan approval. As a referral institution, BOCHK has no right to bind The Lender.
  • In case of any discrepancy(ies) between the Chinese and English versions of this web page, the Chinese version shall prevail.
  • BOCHK and / or The Lender may at its absolute discretion approve or reject any application for policy reverse mortgage loan. BOCHK and / or The Lender reserves the right to approve the policy reverse mortgage application by reviewing the applicants' credit reports and any information provided by the applicant and decline any applications without any reasons. If needed, BOCHK and / or The Lender will require the applicants to supplement document proofs for application review. The final terms and conditions of the policy reverse mortgage loan will be governed by the relevant documents signed between the loan applicant and BOCHK and / or The Lender.

General Terms:

  • The above products and services are subject to the terms and conditions. For details, please refer to the relevant promotional materials or contact the staff of BOCHK / the Policy Reverse Mortgage Hotline.
  • The Policy Reverse Mortgage Programme is operated by HKMC Insurance Limited (HKMCI), a wholly-owned subsidiary of The Hong Kong Mortgage Corporation Limited.
  • HKMC Mortgage Management Limited will be the lender of the policy reverse mortgage loan.
  • BOCHK and / or HKMCI reserve the right to amend, withhold and / or cancel the above products and services at its discretion.
  • In case of any disputes, BOCHK's and / or HKMCI's decision shall be final.