Business owners and SMEs
IRD describes keyman life cover as term insurance protecting an employer against lost trading income, with the employer as beneficiary. Company payment alone does not establish a deduction. Checked . We provide information and referrals to a licensed Hong Kong broker, not advice.
What usually matters
IRD distinguishes its employer-beneficiary keyman term arrangement from policies on a sole proprietor or partner, substantial shareholder directors, family benefits and policies with surrender value. The tax results differ; the company paying premiums is not enough to establish deductibility. IRD: keyman insurance tax treatment
An owner or key employee is not automatically accepted. Underwriting depends on the insurer; IA explains that medical examination requests depend on the applicant’s circumstances. IA: disclosure and underwriting
Questions to take to the broker
Who owns the policy and receives the benefit: the company, a shareholder or family? Is the purpose lost trading income or a share purchase? Does a director or partner qualify for the stated tax treatment? What happens on assignment, sale or departure? Which duties and financial documents will the insurer assess?
Related sourced guides
Published product facts
Lists include every database record with a publicly sourced type matching the types below. Products and comparison groups appear A–Z by English name.The database is incomplete. Links do not confirm availability, residence acceptance, affordability or suitability.
- Term life
- Whole life
- Critical illness
- Covermax Critical Illness Protector
- CoverVital Critical Illness Protector
- Crisis Care - Prime Whole Life Plan
- Critical Medical Care Insurance Plan II
- FOREVER LEGACY WHOLE LIFE INSURANCE PLAN II
- Generations II
- Generations Life Insurance Plan III
- HSBC Family Goal Insurance Plan
- Infinite Legacy Whole Life Insurance Plan
- Level-Up Protect Cancer Insurance Plan
- Level-Up Protect Pearl Cancer Insurance Plan
- LIFE Brilliance
- LionAlong
- LionGuardian Beyond
- ManuBright Care 2 Plus
- ManuLove Care
- ManuVital Care
- Maxijoy Life Protector
- MultiGuardian
- On Your Side Insurance Plan 2
- One/Five Year Term Plan II
- SunGuardian
- SunGuardian (Care Version)
- SunHealth Cancer Shield
- SunHealth LovePromise
- SunPlus
- SunProtect
- SunWell Advanced Care
- SunWell Advanced Care - Baby Care
- SunWell Essential Care
- SunWell Supreme Care
- SunWell Supreme Care - Baby Care
- Taiping Fortunelife Critical Illness Protector
- taiping-life-ci-double
- taiping-life-ci-double-baby
- taiping-life-term-life
- TotalAssure Critical Illness Plan
- TotalAssure Plus Critical Illness Plan
- WiseLady Critical Illness Protection
Comparison groups
No sourced comparison group is available for these types in this snapshot.
Residence and cross-border rules
Hong Kong residents can use the local guides above. Overseas readers of any nationality should also check residence-country rules. A Chinese passport does not establish tax residence.Mainland visitors receive information only. The whole sales process, including signing, must take place in Hong Kong.
Country guidesSources & verification dates
- IRD: keyman insurance tax treatment — Checked
- IA: disclosure and underwriting — Checked
Trust & licence checks — UK expats: Hong Kong insurance — Country guides