Story perspectives

Chubb Life Hong Kong Launches Multi-Currency Life-Event Payout Plan

By Drooid · Sep 30, 2026, 10:47 AM UTC · How we work

Summary

Story summary

Chubb Life Hong Kong launched the Chubb MyLegacy Multi-Currency Insurance Plan.
The plan introduces a first-in-market life-event settlement option.
Policyowners can preset payouts for milestones such as graduation or marriage or home purchase.
Policyowners may convert the policy to another currency after the third anniversary.
Policyowners can name up to five interim and successor owners and insureds.

History

Historical Context

The Mandatory Provident Fund, created by the 1995 MPF Schemes Ordinance and effective from 1 December 2000, obliges employers and employees to contribute 5 % of wages, covering roughly 2.2 million workers after all 300,000 firms enrolled. Leveraging that pension-fund foundation, Chubb Life Hong Kong launched the MyLegacy Multi-Currency Insurance Plan in 2024, offering milestone-based payouts and currency conversion, a move regulators see as expanding protection for Hong Kong’s ageing population.

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Story summary

Chubb Life Hong Kong launched the Chubb MyLegacy Multi-Currency Insurance Plan.
The plan introduces a first-in-market life-event settlement option.
Policyowners can preset payouts for milestones such as graduation or marriage or home purchase.
Policyowners may convert the policy to another currency after the third anniversary.
Policyowners can name up to five interim and successor owners and insureds.

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