Investment-Linked Funds Summary of Invest-Select Life Insurance Plan

Transcription

1 Summary of Invest-Select Life Insurance Plan The plan is not available to new investors and no longer offered to the public in Hong Kong. Information shown is purely for existing policyholder only. Important Risk Warning: Invest-Select Life Insurance Plan (the Plan ) is an investment-linked assurance scheme issued by Hang Seng Insurance Company Limited (the Company ), and your investments are therefore subject to the credit risk of the Company. All premiums you pay towards the Plan and any investments made by the Company in the underlying funds will become and remain the assets of the Company. You do not have any rights or ownership over these assets. Your recourse is against the Company only. Your return from investment is determined by the Company with reference to the performance of the underlying funds. The available under the Plan can have very different features and risk profiles. Some may be of high risk. Due to the fee and charge structure of the Plan, unit prices and returns of the under the Plan will be different from those of their underlying funds. Returns of the investments under the Plan may be lower than those of the underlying funds. Early surrender or withdrawal of the policy may result in a significant loss of principal. Poor performance of underlying funds may further magnify your investment losses, while all charges are still deductible. Please note the following relating to insurance coverage and the Insurance Charge: Insurance Charge for your life insurance coverage may increase significantly during the policy term due to a combination of factors, e.g. age, smoking habit, investment return/loss of your, etc. The higher the Insurance Charge, the less your premium is available for investment purpose. The Insurance Charge may increase significantly to a level exceeding your regular premium payment, particularly where your have been incurring significant losses. This may result in significant or even total loss of your investment and premium paid. If the policy value is not enough to cover the Plan Charges (including Insurance Charge and other charges), your policy will be terminated early and you will not be able to enjoy any targeted death or other benefits from the Plan. Investment involves risks, and past performances is not indicative of future performance. The investment decision is yours but we strongly recommend that you do not invest in the Plan unless the intermediary who sells it to you has explained to you that the Plan is suitable for you having regard to your financial situation, investment experience and investment objectives. You should not solely rely on the information contained herein for making any investment decisions. You should read the offering documents of the Plan for further details including the risk factors. under the Plan are set up and offered by the Company. The invest in their relevant underlying funds and hence their investment objectives, underlying asset risks and performances are linked to their underlying funds. The investments of into the underlying funds are subject to the operational rules and investment policy of those underlying funds. You do not have any ownership in the underlying funds. Each Fund is divided into units. The allocation of units is purely notional and for the sole purpose of determining the account value of your policy. For details of the investment objectives of the underlying funds, please refer to the relevant prospectus which are made available at The risk level of the follows the risk level of their corresponding underlying funds. The risk level of the underlying funds are determined, reviewed and revised (if appropriate) at least quarterly by Hang Seng Bank Limited taking into account the prevailing market circumstances according to the historical volatility of the underlying funds, and where appropriate, the historical volatility of a comparable market index or comparable fund. Please note that the risk level of the Funds is subject to amendment by Hang Seng Bank Limited without prior notice and is for reference only. The Securities and Futures Commission ( SFC ) has not assessed or approved, nor has it verified the accuracy of such information. Risk Level : Low Hang Seng Insurance Fidelity US Dollar Bond Fund Hang Seng Insurance Fidelity US Dollar Bond Fund will be invested in Fidelity Funds - US Dollar Bond Fund as the underlying fund. The underlying fund invests principally in US Dollar denominated debt securities. Hang Seng Insurance Fidelity US Dollar Cash Fund Hang Seng Insurance Fidelity US Dollar Cash Fund will be invested in Fidelity Funds - US Dollar Cash Fund as the underlying fund. The investment objective of the underlying fund is to invest principally in US Dollar denominated debt securities and other permitted assets. Hang Seng Insurance Fidelity US Dollar Cash Fund is available for Fund switching only (that is, not available for premium allocation). Fund FUS 1.50% FUC 0.50%

2 Risk Level : Low to Medium Hang Seng Insurance Fidelity Global Bond Fund Hang Seng Insurance Fidelity Global Bond Fund will be invested in Fidelity Funds - Global Bond Fund as the underlying fund. The underlying fund invests in Global markets to maximise performance measured in US Dollars. The fund may invest its net assets directly in onshore China fixed income securities listed or traded on any Eligible Market in China. Portfolio Information: Onshore China fixed income securities are listed or traded on any Eligible Market in China, and are issued by a variety of issuers such as government, quasi-government, banks, financial institutions or other corporate entities established or incorporated in China or corporate entities with commercial activities in China. Hang Seng Insurance BlackRock Global Allocation Fund Hang Seng Insurance BlackRock Global Allocation Fund will be invested in BlackRock Global Funds - Global Allocation Fund as the underlying fund. The underlying fund seeks to maximise total return. The underlying fund invests globally in equity, debt and short term securities, of both corporate and governmental issuers, with no prescribed limits. In normal market conditions the underlying fund will invest at least 70% of its total assets in the securities of corporate and governmental issuers. The underlying fund generally will seek to invest in securities that are, in the opinion of the underlying fund s investment adviser, undervalued. The underlying fund may also invest in the equity securities of small and emerging growth companies. The underlying fund may also invest a portion of its debt portfolio in high yield fixed income transferable securities. Currency exposure is flexibly managed. Risk Level : Medium Hang Seng Insurance BlackRock Flexible Multi-Asset Fund Hang Seng Insurance BlackRock Flexible Multi-Asset Fund will be invested in BlackRock Global Funds Flexible Multi-Asset Fund as the underlying fund. The underlying fund follows an asset allocation policy that seeks to maximise total return. The underlying fund invests globally in the full spectrum of permitted investments including equities, fixed income transferable securities (which may include some high yield fixed income transferable securities), units of undertakings for collective investment, cash, deposits and money market instruments. The underlying fund has a flexible approach to asset allocation (which includes taking indirect exposure to commodities through permitted investments, principally through derivatives on commodity indices and exchange traded funds). The underlying fund may invest without limitation in securities denominated in currencies other than the reference currency (Euro). The currency exposure of the underlying fund is flexibly managed. Hang Seng Insurance BlackRock Global Dynamic Equity Fund Hang Seng Insurance BlackRock Global Dynamic Equity Fund will be invested in BlackRock Global Funds - Global Dynamic Equity Fund as the underlying fund. The underlying fund seeks to maximise total return. The underlying fund invests globally, with no prescribed country or regional limits, at least 70% of its total assets in equity securities. The underlying fund will generally seek to invest in securities that are, in the opinion of the underlying fund s investment adviser, undervalued. The underlying fund may also invest in the equity securities of small and emerging growth companies. Currency exposure is flexibly managed. Hang Seng Insurance Fidelity European Dynamic Growth Fund The underlying fund is traded in Euros. Hang Seng Insurance Fidelity European Dynamic Growth Fund will be invested in Fidelity Funds - European Dynamic Growth Fund as the underlying fund. The underlying fund aims to achieve longterm capital growth, principally through investment in an actively managed portfolio of companies that have their head office or exercise a predominant part of their activity in Europe. The underlying fund will typically have a bias towards medium-sized companies with a market capitalisation of between 1 and 10 billion Euros. Hang Seng Insurance HSBC Asian Bond Fund Hang Seng Insurance HSBC Asian Bond Fund will be invested in HSBC Asian Bond Fund as the underlying fund. The underlying fund aims to achieve a reasonably high income whilst maintaining a prudent policy of capital conservation through primarily investing in fixed interest securities within the Asian region. Hang Seng Insurance HSBC Economic Scale Japan Equity Fund Hang Seng Insurance HSBC Economic Scale Japan Equity Fund will be invested in HSBC Global Investment Funds - Economic Scale Japan Equity Fund as the underlying fund. The underlying fund aims to provide long term total return by investing in a portfolio of Japanese equities. The underlying fund invests in normal market conditions a minimum of 90% of its net assets in equities and equity equivalent securities of companies which are domiciled in, based in, carry out the larger part of their business activities in or are listed on a Regulated Market in, Japan. The underlying fund may also invest in eligible closed-ended Real Estate Investment Trusts ( REITs ). The underlying fund uses a systematic investment approach and invests in companies according to their economic scale. The chosen measure of economic scale is a company s contribution to Gross National Product ( GNP ) which is also referred to as Value Added - the difference between a company s outputs and inputs. capitalisation restriction. The underlying fund will not invest more than 10% of its net assets in REITs. Eligible UCIs (including other sub-funds of HSBC Global Investment Funds). The underlying fund may use financial derivative instruments for hedging and cash flow management (for example, Equitisation). However, the underlying fund will not use financial derivative instruments extensively for investment purposes. The financial derivative instruments the underlying fund is permitted to use include, but are not limited to, futures and foreign exchange forwards (including non-deliverable forwards). Financial derivative instruments may also be embedded in other instruments in which the underlying fund may invest. Hang Seng Insurance BlackRock European Fund Hang Seng Insurance BlackRock European Fund will be invested in BlackRock Global Funds - European Fund as the underlying fund. The underlying fund seeks to maximise total return. The underlying fund invests at least 70% of its total assets in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in, Europe. Fund FNB 1.50% MAL 1.75% MSA 1.75% MFV 1.75% FED 1.75% HAS 1.50% HJE 1.75% MER 1.75%

3 Hang Seng Insurance BlackRock US Basic Value Fund Hang Seng Insurance BlackRock US Basic Value Fund will be invested in BlackRock Global Funds - US Basic Value Fund as the underlying fund. The underlying fund seeks to maximise total return. The underlying fund invests at least 70% of its total assets in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in, the US. The underlying fund places particular emphasis on companies that are, in the opinion of the underlying fund's investment adviser, undervalued and therefore represent basic investment value. Hang Seng Insurance Global High Yield Bond Fund Hang Seng Insurance Global High Yield Bond Fund will be invested in Hang Seng Global High Yield Bond Fund as the underlying fund. The objective of the underlying fund is to maximise long term total return, comprising both high levels of income and capital appreciation, through investing in a globally diversified portfolio of corporate high yield (high risk) bonds which are of non-investment grade or unrated and emerging market debt instruments and other similar debt instruments worldwide. Noninvestment grade bonds are bonds which are rated below by Baa3 Moody s Investors Service or below BBB- by Standard & Poor s or equivalent. Hang Seng Insurance Fidelity Emerging Markets Fund (2) Hang Seng Insurance Fidelity Emerging Markets Fund will be invested in Fidelity Funds - Emerging Markets Fund as the underlying fund. The underlying fund invests principally in areas experiencing rapid economic growth including countries in Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East. Hang Seng Insurance Fidelity Asia Focus Fund (2) Hang Seng Insurance Fidelity Asia Focus Fund will be invested in Fidelity Funds - Asia Focus Fund as the underlying fund. The underlying fund invests principally in equity securities quoted on stock exchanges in Asia excluding Japan. The underlying fund may invest its net assets directly in China A and B Shares. Hang Seng Insurance HSBC Asia ex Japan Equity Fund Hang Seng Insurance HSBC Asia ex Japan Equity Fund will be invested in HSBC Global Investment Funds - Asia ex Japan Equity as the underlying fund. The underlying fund aims to provide long term capital growth by investing in a portfolio of Asian (excluding Japanese) equities. The underlying fund invests in normal market conditions a minimum of 90% of its net assets in equities and equity equivalent securities of companies which are domiciled in, based in, or carry out the larger part of their business activities in Asia (excluding Japan), in both developed markets such as OECD countries and Emerging Markets. Investments in Chinese equities include, but are not limited to, China A-shares and China B-shares (and such other securities as may be available) listed on stock exchanges in the People s Republic of China ( PRC ). The underlying fund may directly invest in China A-shares through the Shanghai-Hong Kong Stock Connect and/or the Shenzhen-Hong Kong Stock Connect, subject to applicable quota limitations. Furthermore, the underlying fund may gain exposure to China A-shares indirectly through China A-shares Access Products ( CAAP ) such as, but not limited to, participation notes linked to China A-shares. The underlying fund may invest up to 50% of its nets assets in China A-shares through the Shanghai- Hong Kong Stock Connect and/or the Shenzhen-Hong Kong Stock Connect, and up to 30% of its net assets in CAAPs. The underlying fund s maximum exposure to China A-shares (through the Shanghai- Hong Kong Stock Connect, the Shenzhen-Hong Kong Stock Connect or CAAP) and China B-shares is 50% of its net assets. The underlying fund will not invest more than 10% of its net assets in CAAPs issued by any single issuer of CAAPs. Fund MUF 1.75% GGH 1.50% (1) FEM 1.75% FSE 1.75% HAE 1.75% capitalization restriction. The underlying fund may invest up to 10% of its net assets in units or shares of UCITS and/or other Eligible UCIs (including other sub-funds of HSBC Global Investment Funds). The underlying fund may use financial derivative instruments for hedging and cash flow management (for example, Equitisation). However, the underlying fund will not use financial derivative instruments extensively for investment purposes. The financial derivative instruments that the underlying fund is permitted to use include, but are not limited to, futures and foreign exchange forwards (including nondeliverable forwards). Financial derivative instruments may also be embedded in other instruments in which the underlying fund may invest. Hang Seng Insurance HSBC Economic Scale Global Equity Fund Hang Seng Insurance HSBC Economic Scale Global Equity Fund will be invested in HSBC Global Investment Funds - Economic Scale Global Equity Fund as the underlying fund. The underlying fund aims to provide long term total return by investing in a portfolio of developed market equities. The underlying fund invests in normal market conditions a minimum of 90% of its net assets in equities and equity equivalent securities of companies which are domiciled in, based in, carry out the larger part of their business activities in or are listed on a Regulated Market in, developed markets such as OECD countries. The underlying fund may also invest in eligible closed-ended Real Estate Investment Trusts ( REITs ). The underlying fund uses a systematic investment approach and invests in companies according to their economic scale. The chosen measure of economic scale is a company s contribution to Gross National Product ( GNP ) which is also referred to as Value Added - the difference between a company s outputs and inputs. HGQ 1.75% capitalisation restriction. The underlying fund will not invest more than 10% of its net assets in REITs. Eligible UCIs (including other sub-funds of HSBC Global Investment Funds). The underlying fund may use financial derivative instruments for hedging and cash flow management (for example, Equitisation). However, the underlying fund will not use financial derivative instruments extensively for investment purposes. The financial derivative instruments the underlying fund is permitted to use include, but are not limited to, futures and foreign exchange forwards (including nondeliverable forwards). Financial derivative instruments may also be embedded in other instruments in which the underlying fund may invest.

4 Hang Seng Insurance HSBC Global Emerging Markets Equity Fund (2) Hang Seng Insurance HSBC Global Emerging Markets Equity Fund will be invested in HSBC Global Investment Funds - Global Emerging Markets Equity as the underlying fund. The underlying fund aims to provide long term total return by investing in a portfolio of Emerging Market equities. The underlying fund invests in normal market conditions a minimum of 90% of its net assets in equities and equity equivalent securities of companies which are domiciled in, based in, or carry out the larger part of their business activities in, Emerging Markets. The underlying fund may also invest in eligible closed-ended Real Estate Investment Trusts ( REITS ). To the extent that the underlying fund invests in India, when making new investments or reallocating the portfolio, the underlying fund will invest directly in equities and equity equivalent securities of companies which are domiciled in India and the underlying fund will no longer increase its holdings in the subsidiary. Holdings in the subsidiary may decrease. During a transitional period, which is expected to begin in September 2016 and to be completed by the end of October 2016, the underlying fund will divest its holdings in the subsidiary in order to reinvest these assets directly. Fund Investments in Chinese equities include, but are not limited to, China A-shares and China B-shares (and such other securities as may be available) listed on stock exchanges in the People s Republic of China ( PRC ). The underlying fund may directly invest in China A-shares through the Shanghai-Hong Kong Stock Connect and/or the Shenzhen-Hong Kong Stock Connect, subject to applicable quota limitations. Furthermore, the underlying fund may gain exposure to China A-shares indirectly through China A-shares Access Products ( CAAP ) such as, but not limited to, participation notes linked to China A-shares. The underlying fund may invest up to 30% of its nets assets in China A-shares through the Shanghai- Hong Kong Stock Connect and/or the Shenzhen-Hong Kong Stock Connect and up to 30% of its net assets in CAAPs. HGE 1.75% The underlying fund s maximum exposure to China A-shares (through the Shanghai-Hong Kong Stock Connect, the Shenzhen-Hong Kong Stock Connect or CAAP) and China B-shares is 40% of its net assets. The underlying fund will not invest more than 10% of its net assets in CAAPs issued by any single issuer of CAAPs. capitalisation restriction. The underlying fund will not invest more than 15% of its net assets in a combination of participation notes and convertible securities. The underlying fund will not invest more than 10% of its net assets in REITS. Eligible UCIs (including other sub-funds of HSBC Global Investment Funds). The underlying fund may use financial derivative instruments for hedging and cash flow management (for example, Equitisation). However, the underlying fund will not use financial derivative instruments extensively for investment purposes. The financial derivative instruments the underlying fund is permitted to use include, but are not limited to, futures and foreign exchange forwards (including non-deliverable forwards). Financial derivative instruments may also be embedded in other instruments in which the underlying fund may invest. Hang Seng Insurance Japan Index Fund Hang Seng Insurance Japan Index Fund will be invested in Hang Seng Japan Index Fund as the underlying fund. The objective of the underlying fund is to match the return of the FTSE Japan Index (the Japan Index ). The underlying fund seeks to achieve this investment objective by investing solely in the Japan Index Fund, a sub-fund of the UK authorised open-ended investment company HSBC Index Tracker Investment Funds which is also authorised by the SFC (such authorisation does not imply official recommendation), and having as its investment objective to provide long term capital growth by matching the return of the Japan Index. Risk Level : High Hang Seng Insurance BlackRock Latin American Fund Hang Seng Insurance BlackRock Latin American Fund will be invested in BlackRock Global Funds - Latin American Fund as the underlying fund. The underlying fund seeks to maximise total return. The underlying fund invests at least 70% of its total assets in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in, Latin America. Hang Seng Insurance BlackRock World Energy Fund Hang Seng Insurance BlackRock World Energy Fund will be invested in BlackRock Global Funds - World Energy Fund as the underlying fund. The underlying fund seeks to maximise total return. The underlying fund invests globally at least 70% of its total assets in the equity securities of companies whose predominant economic activity is in the exploration, development, production and distribution of energy. Hang Seng Insurance BlackRock World Gold Fund Hang Seng Insurance BlackRock World Gold Fund will be invested in BlackRock Global Funds - World Gold Fund as the underlying fund. The underlying fund seeks to maximise total return. The underlying fund invests globally at least 70% of its total assets in the equity securities of companies whose predominant economic activity is gold-mining. It may also invest in the equity securities of companies whose predominant economic activity is other precious metal or mineral and base metal or mineral mining. The underlying fund does not hold physical gold or metal. Hang Seng Insurance BlackRock World Mining Fund Hang Seng Insurance BlackRock World Mining Fund will be invested in BlackRock Global Funds - World Mining Fund as the underlying fund. The underlying fund seeks to maximise total return. The underlying fund invests globally at least 70% of its total assets in the equity securities of mining and metals companies whose predominant economic activity is the production of base metals and industrial minerals such as iron ore and coal. The underlying fund may also hold the equity securities of companies whose predominant economic activity is in gold or other precious metal or mineral mining. The underlying fund does not hold physical gold or metal. GJI 1.75% MLA 1.75% MWE 1.75% MWG 1.75% MWM 1.75%

5 Risk Level : High Hang Seng Insurance China Enterprises Index Fund (2) The underlying fund is traded in HK dollars. Hang Seng Insurance China Enterprises Index Fund will be invested in Hang Seng China Enterprises Index Fund as the underlying fund. The investment objective of the underlying fund is to match as closely as practicable the performance of the Hang Seng China Enterprises Index for each of the morning and the afternoon trading sessions of The Stock Exchange of Hong Kong Limited through investing solely in another index-tracking fund authorized by the SFC (such authorisation does not imply official recommendation) with a substantially similar investment objective as that of the underlying fund. Currently, the underlying fund manager has selected the Hang Seng China Enterprises Index ETF as the index-tracking fund. Hang Seng Insurance Fidelity China Focus Fund (2) Hang Seng Insurance Fidelity China Focus Fund will be invested in Fidelity Funds - China Focus Fund as the underlying fund. The underlying fund will primarily focus on China through investment in securities of Chinese companies listed in China and Hong Kong, as well as securities in non-chinese companies which have a significant portion of their activities in China. The underlying fund may invest its net assets directly in China A and B Shares. Hang Seng Insurance Fidelity Greater China Fund (2) Hang Seng Insurance Fidelity Greater China Fund will be invested in Fidelity Funds - Greater China Fund as the underlying fund. The underlying fund invests principally in equity securities quoted on stock exchanges in Hong Kong, China and Taiwan. The underlying fund may invest its net assets directly in China A and B Shares. Hang Seng Insurance Fidelity India Focus Fund Hang Seng Insurance Fidelity India Focus Fund will be invested in Fidelity Funds - India Focus Fund as the underlying fund. The underlying fund aims to provide long-term growth, principally through investment in equity securities of Indian companies listed in India, as well as securities in non Indian companies which have a significant portion of their activities in India. Fund GCH 1.75% FCF 1.75% FGC 1.75% FIF 1.75% (1) Depending on the extent of investment in other unit trusts, Hang Seng Global High Yield Bond Fund will also bear a proportionate share of the management fees of those unit trusts indirectly. The management fees of those unit trusts, will typically be in the range of % per annum of their net asset value, are not included in the Fund Charge as shown in the above table, but will be reflected in the underlying fund unit price, which will be used to calculate the Fund unit price. Please refer to the relevant prospectus of the underlying fund which is made available at for details. (2) In general fluctuation in the performance of emerging markets is normally higher as it tends to be more volatile than other developed markets. The Fund Charges as shown above are charged by the Company and the rates include the declared management fee rates of the underlying funds, but excluding the other charges in relation to the underlying fund of each Fund. The Plan is authorized by the SFC, but such authorization does not imply official recommendation. SFC authorization is not a recommendation or endorsement of a scheme nor does it guarantee the commercial merits of a scheme or its performance. It does not mean the scheme is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. Each Fund is subject to market value fluctuations and to the risks inherent in all investments. The price of units in any Fund or the income from them (if any) may go down as well as up. The return of the Fund may be lower than the return of its corresponding underlying fund or the index particularly on a day-to-day basis. Some may involve higher risks, please refer to the relevant prospectus of the underlying funds which are made available at Base currency of each Fund is in HK or US dollars according to plan currency. Since the underlying investment may involve multiple currencies, the value of the investment may be subject to exchange rate fluctuations. The Plan is an insurance policy issued by the Company and thus the benefits offered under the Plan are subject to the credit risk of the Company. Investment involves risks. You may be subject to a loss due to market value fluctuations, include potential loss in all or part of the premium paid. will be divided into units, the unit prices of which will be determined by the net asset value of, net of Fund Charges, and rounded down to two decimal places. Surplus arising from rounding of unit price will remain in the net asset value of the Fund and be reflected in the calculation of future unit price. The investment return includes interest, dividends, realized or unrealized capital and currency gains and losses. Number of units allocated to your policy will be determined by the relevant additions (i.e. additions due to premium allocated and Fund switching in) or deductions (i.e. deductions due to charges deduction, withdrawal and Fund switching out) and corresponding unit prices. The allocation of units is purely notional and for the sole purpose of determining the account value of your policy. Number of units held in each Fund and each transaction under your policy will be rounded to five decimal places as follows: if the 6th decimal falls within 0 and 4, the 5th decimal will be left unchanged; and if the 6th decimal falls within 5 and 9, the 5th decimal will be increased by 1. Valuation The value of the net assets will be determined in accordance with any applicable valuation regulations as defined in the Insurance Ordinance. If no such valuation regulations are applicable, the principles of valuation in valuing long-term business will be used for the purpose of the Insurance Ordinance. Generally, investments are valued at market prices. Currently, the are valued or traded on every business day other than Saturdays. Termination We can terminate the in which you participate by giving prior written notice in compliance with relevant regulatory requirement. Another Fund will replace the terminated Fund, in which the balance of the policy will be maintained. Borrowing The form part of the Company long-term business funds under Part IV of the Insurance Ordinance. In relation to these we undertake to restrict our borrowing to 5% of the net asset value of each Fund held under the policy. For details of the borrowing and investment restrictions of the underlying funds, please refer to the relevant prospectus which are available at Dispute resolution Hang Seng Bank is an insurance agent authorized by Hang Seng Insurance Company Limited and the product is a product of Hang Seng Insurance Company Limited but not Hang Seng Bank ; and In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between Hang Seng Bank and you out of the selling process or processing of the related insurance product transaction, Hang Seng Bank will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance products should be resolved between Hang Seng Insurance Company Limited and you directly. Invest-Select Life Insurance Plan is underwritten by Hang Seng Insurance Company Limited which is an authorised insurance company under the Insurance Ordinance and is regulated by the Insurance Authority in carrying out long-term insurance business in the Hong Kong Special Administrative Region. Hang Seng Bank Limited is an insurance agent authorised by Hang Seng Insurance Company Limited. This Funds Summary is issued by Hang Seng Insurance Company Limited. Invest-Select Fund Insert-R32 02/19 (TD)