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Important Notice

Manulife (International) Limited would like to alert the public to be vigilant about any suspicious phone calls, emails, websites, apps, etc. allegedly related to Manulife. If you have any doubt, please contact us at (852) 2108 1188 or by email at for assistance.

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Manulife Tax-Deductible Solutions

Explore Manulife Tax Deductible VHIS, TVC and QDAP policies to save more on tax returns.

The maximum tax-deductible amount per year is up to HKD68,0001!

1 Assuming a taxpayer has a VHIS policy he or she could enjoy a maximum tax-deductible premium of HKD8,000 per eligible insured person per tax assessment year. The aggregate maximum tax-deductible limit for both qualifying deferred annuity premiums and Tax Deductible Voluntary Contributions is HKD60,000 per taxpayer per year. The actual amount of tax saved varies according to each taxpayer’s taxable income and the applicable tax rate.

The content of this website does not contain the full terms of the policy(ies), and the full terms can be found in the policy document(s). 

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    Get more of your family members insured for the chance to save more!

    Whether you are taking up a VHIS policy for yourself or a family member, it’s eligible for tax deduction of up to HKD8,000* per insured person per tax assessment year, with no limits on the number of insured persons!

    Learn more about tax deduction

    More on Manulife's VHIS

    Act now

    *The actual amount saved varies according to each insured person’s personal tax assessment and individual circumstances. For details, please consult independent tax and accounting consultants.

    Tax Deductible Case Studies

    Melissa quit her 9-to-8 job three years ago to follow her dreams in France where she learnt how to make desserts. She is now an instructor at a cooking school in Hong Kong, teaching interest classes in dessert-making. Since she knows how to promote her skills on social media, Melissa is often invited by companies to teach dessert-making classes. Her income therefore depends on how many classes she teaches. While her hands could be tied if there are too many classes, there is invariably downtime when she just ends up staying idle at home.


    Despite an unstable income, Melissa is satisfied with what she earns – an average annual income of HKD420,000. Given the limits of her group life policies, she is concerned about her health coverage for emergencies such as sudden illnesses or accidents. That's why she decides to take up a certified plan under the Voluntary Health Insurance Scheme (VHIS). As she is single, she understands that the earlier she starts retirement planning, the better she can prepare for her golden years. She also understands it’s necessary to save more for retirement as long as she has a decent income.

    Given the unstable nature of her income, she splits the money she wants to save between a Qualifying Deferred Annuity Policy (QDAP) and a Tax Deductible Voluntary Contributions (TVC) account, allocating a total of HKD60,000 each year to these two plans.

    Asset HKD
    Deposit 500,000
    Equities and Funds 320,000
    MPF Accrued Benefits 350,000
    Total Assets 1,170,000
    Annual Personal Income 420,000
    Taxable Income# 270,000
    Annual Salary Tax Payable# (Originally) 27,900
    Tax Deduction for VHIS Plan@ (7,479)
    Tax Deduction for TVC / QDAP Premiums (60,000)
    Tax Payable (Now)# 16,428
    Annual Tax Savings 11,472

    Melissa is satisfied with her current job. Now that she has acquired medical coverage and boosted her retirement savings, she feels more secure than ever. With these tax-deductible solutions, she is able to save HKD11,472 in taxes, or more than 40% of her original assessment, for the 2019/2020 assessment year. What she saves in taxes could help her fast-track her retirement savings plan. That means she would soon be able to take short courses abroad to learn how to prepare a wider variety of desserts, an opportunity that may further boost her career prospects.

    # : The amount of tax payable shown above is computed on June 23, 2019 using the tax calculator developed by the Inland Revenue Department. It is for reference only. The amount is based on the assumption that there is no other applicable tax concession, tax-deductible or allowance.

    @ : Total amount of VHIS premiums eligible for tax deduction = HKD7,479

    Writer: Alvin Lam, Certified Money Coach 
    The information above is for general reference only. It shall not constitute nor shall it be taken as a substitute for the professional advice from an insurance advisor or the MPF registered intermediaries on the purchase of insurance policies. No aspect of this website shall be solely relied upon for the decision of insurance purchase. You should seek relevant professional advice before taking action on any matters to which information provided on this website may be relevant. For more details, please contact your Manulife insurance advisor or the MPF registered intermediaries. We do not provide any tax, legal or accounting advice and consultation to you. If you have any questions, please consult the IRD or independent tax, legal and accounting consultants.

    Tax Savings Calculator

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    Learn more about tax deduction

    VHIS is a policy initiative introduced by the Food and Health Bureau. Citizens may apply for tax deduction on the qualifying premiums paid by a citizen for himself/herself and his/her specified dependent(s) (i.e. specificed relatives) for VHIS certified plans on or after April 1, 2019. The deduction ceiling is set at HK$8,000 per insured person per year. There is no cap on the number of dependent(s) that are eligible for tax deduction. For example, if you purchase 3 VHIS plans for 3 dependents, you can apply for tax deduction for the premiums paid up to HK$24,000 (HK$8,000 x 3) per year.

    Specified dependents include the taxpayer’s spouse and children, and the grandparents, parents, brothers or sisters of the taxpayer or his/ her spouse. Please refer to Section 112 of the Tax Ordinance for the detailed definition.

    Tax savings from purchasing VHIS certified plan depend on the eligible premiums paid and tax rate like below:
    Eligible VHIS certified plan premiums x Tax Rate = Potential Tax Savings

    For example, if your premium paid is HK$3,800, assuming the tax rate is 17%, you may possibly enjoy HK$646 in tax savings. But the actual tax savings you can enjoy will depend on your personal tax assessment and situation. For details, please visit the website of VHIS Office of Food and Health Bureau and the Inland Revenue Department.

    VHIS is an individual indemnity hospital insurance product, which provides reimbursements of medical expenses.

    2 types of certified plans are available under VHIS – Standard Plan and Flexi Plan. Standard Plan follows the minimum requirements of VHIS from the Government, providing standardized basic protection. Flexi Plan provides more comprehensive protection and product selection compared with Standard Plan. Manulife offers Manulife Shelter VHIS Standard Plan and Manulife First VHIS Flexi Plan to give you well-rounded protection based on your needs.