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Meeting their protection needs

Meeting their protection needs

HSBC Life’s selection of insurance and critical illness cover is available in single or joint-life options, with critical illness offered as either a standalone policy or with the flexibility to combine it with life cover to meet protection and affordability needs.

  • Life Insurance can also be written in trust to make sure that the policy benefit goes to the very people it was intended for
  • Guaranteed Insurability Option (GIO) — the built-in flexibility to request additional cover as your clients’ circumstances change such as moving to a larger house or raising a family
  • Enhanced Digital Underwriting journey — No application paperwork to complete, using enhanced digital underwriting to accept c70% of applications straight away (based on Life application data from May 2022).

Younger families

  • High levels of cover — up to £1,000,000 for life insurance and £750,000 for critical illness cover
  • Enhanced Digital Underwriting – simple questions, c70% cases get a decision straight away (based on Life application data from May 2022)
  • Dependent children’s critical illness benefits — including a lump sum upon diagnosis of a specified illness or following a specified surgical procedure (for full terms and conditions including exclusions please refer to policy booklet)
  • Children’s Bereavement Assistance — a lump sum to provide financial assistance upon the death of a dependent child

The self-employed

With no employer Death in Service option and no protection in place should your client be unable to work due to illness, HSBC life insurance and critical illness cover could be the answer.

  • Protection from creditors — an HSBC Life Trust Deed should protect assets from creditors and make certain the policy benefit goes to the very people it was intended for
  • Buys them time — critical illness cover could mean paying off a mortgage, or allowing your client time to re-arrange their life until they can return to work
  • Critical Illness Hospitalisation Benefit — £5,000 lump sum payout for a physical injury incurred in an accident that results in a hospital stay of 30 or more consecutive days

UK homebuyers and mortgage protection

  • 90-day free protection — protects your clients at a stressful time between exchange and completion
  • Fast decisions — at time when life insurance and critical illness cover may be needed quickly
  • Lending into retirement or equity release applications can be made up to the age of 69

People in company schemes

People in company schemes will typically be offered four times their salary as a Death in Service life insurance benefit.

  • Adding critical illness — provides financial cover during periods of longer-term ill-health or rehabilitation outside of their company’s legal obligations
  • Topping-up Death in Service benefit — because it may not be enough to provide adequate financial help for beneficiaries

Later in life

People are staying fitter and living longer. Our life insurance and critical illness products are designed to reflect this new reality.

  • Protection for longer — for critical illness we provide cover up to 80 years old. For life insurance, the maximum expiry age is 90 years old
  • Older people as guarantors allows healthy people to protect their beneficiaries if they are guarantors of their children’s borrowing — a mortgage for example
  • Replacement capital — if they’ve entered into an equity release arrangement, your client may be looking to pass on the full value of their estate