HSBC Insurance (Singapore) is part of HSBC Holdings plc - one of the world’s largest financial institutions and headquartered in London. In Singapore, they offer a range of life insurance, savings plans and annuity products.
Term Life Insurance Policies
Value Term
Value Term is a term life insurance offered by HSBC in Singapore that provides coverage against death up to 90 years old and total and permanent disability up to 65. You can choose term periods from 10 to 30 years and you can elect to pay premiums annually, half-yearly, quarterly or monthly.
Convertible & Renewable Term Insurance
This term insurance policy from HSBC is aimed at those who need solid protection but with a small budget. It offers five-year convertible plans that pay a lump sum on death and 20 per cent of the sum insured in case of disability. You can renew every five years until you are 60, whereupon you may switch to a whole life plan without the need for a medical exam.
Whole Life Insurance Policies
Guaranteed Assurance
This is a whole life insurance plan protecting against death or disability with a pre-determined cash value. Death protection is until 95, disability until 65 and the cash value is available from the third year of the policy onwards. Premiums can be paid yearly, half-yearly, quarterly or monthly.
LifeProtector
LifeProtector is a whole life insurance plan from HSBC that allows you to choose the payment schedule to suit your budget and withdraw loans of up to 90 per cent of your policy’s cash value. Death protection is available up to 95 years old and disability until 65.
Life Manager Plus
This is an investment-linked whole-life insurance policy from HSBC that provides protection until the age of 99 and allows you to invest the cash value of your insurance in a wide-range of investment funds. The plan does not charge for switching between funds as and when desired. It also offers the flexibility of increasing or reducing your savings amount (in your cash value account) to suit your prevailing financial needs.
Asset Manager II
This whole-life insurance plan is a single premium investment-linked plan. You are also allowed to top-up your investment amount as well as withdraw the cash value of your plan if needed. Being an investment linked plan, you are able to invest the cash value into any of the authorized funds to maximize the returns. And of course, in the event of death, the beneficiaries will receive the appropriate death benefit.
Endowment Policies
Savings Manager
Savings Manager is an investment-linked endowment plan from HSBC that provides life protection as well as helps you save money for your long-term goals. The plan can be subscribed to for a term between 10-40 years and it provides a life protection for the insurer of at least five times of the annual premium during the term. To maximize the returns on your savings, the plan allows you to invest in a range of funds.
GoalSaver
This is an endowment life insurance plan for a fixed term to help you put money aside for a future purpose. After the third year of your policy, you can receive 2.5 per cent of your initial sum every six months or reinvest it in your plan. Coverage against death increases with time and you can choose policy terms of 5, 10, 15, 20, 21 or 25 years.
ChildEnrich
This is to help you pay for your child’s education and provide him or her with lifetime protection. You can start when your child is a newborn and the policy will be paid up when he or she reaches 18 or 21.
What Next?
If you are not sure what type of life insurance is right for you (term life, whole life, universal life, endowment life insurance, etc.), we recommend that you read Guide to Life Insurance Types in Singapore. For information on available life insurance policies from other companies, refer to Related Links section at the end of this page. Once you have decided to get a life insurance, it's very important that you choose a competent and professional life insurance broker in Singapore. A good insurance agent will first take the time to understand your family situation and insurance needs and then present with a life insurance product that best suits your needs.
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