HSBC Life Insurance

Compare life insurance policies available from HSBC Bank.

HSBC is known as "the world’s bank" and when you look back over its history, it has truly traversed the different continents in pursuit of financial understanding, offering the best financial products to people of every background. This also means that HSBC is able to turn its hand to life insurance products for Australians, applying world leading techniques and offering world-class features and benefits which will protect you and your family into the future.

You’ve also got the strength of history behind you when you work with HSBC, as the bank began operating in Australia in 1965 and was awarded a commercial banking license in 1986. The HSBC headquarters are in London, but the group serves customers around the world, with approximately 6,600 offices in over 81 countries.

Australia has 36 of the HSBC branches, where they offer retail and commercial banking products and services, financial planning, trade finance, treasury and financial markets, payments and cash management, and securities custody.

HSBC is not only highly skilled and experienced in the finance industry, it is well recognised for its achievements too, having been awarded: does not currently have access to this life insurance brand. You may wish to compare options available on the life insurance homepage.

Life Insurance Products from HSBC Bank

So what does all of this means for the specifics of what’s included in your life insurance products from HSBC? It means you’re getting a carefully constructed, highly developed insurance product from a world leading financial institution, so you can choose from a range of insurance solution of:

  • Life cover: Life cover from HSBC pays a lump sum benefit if you die or are diagnosed with a terminal illness and have less than 12 months to live.
  • Critical illness cover: Pays a lump sum benefit if you suffer one of the critical illnesses defined in your HSBC policy.
  • Permanently unable to work cover: Provides you and your family with a lump sum benefit payment if you are unlikely to ever be able to return to work because of illness or injury. Your ability to return to work will be assessed based on the occupation you held at the time of suffering your illness or injury, and also any occupation for which you have relevant education, training or experience.
  • Bundled HSBC life insurance products: You can combine your HSBC life insurance policies for greater coverage, for example, you can take out critical illness cover and permanently unable to work cover as part of a life cover policy. In this case the amount of your critical illness benefit or your permanently unable to work benefit must not be greater than your life cover benefit amount. This is because, the total amount you can be paid under a policy of combined cover is the Life Cover Amount, before any other benefits have been paid, as the payment of a benefit for one type of cover reduces the cover amount of the remaining benefits.
  • Flexible insurance cover: Once your HSBC life insurance policies are in force, you can increase your life cover amount at any time by applying to HSBC. You can also apply to add benefits to your life insurance, and while your application will be subject to assessment to approve an increase in cover, any existing cover will not be affected if the increase is declined.
  • Accidental injury included with Life Cover: If you suffer an accidental injury as defined y your HSBC Life Cover policy, you will receive a benefit payment from your cover amount. For example, losing the use of one hand, one foot or the sight in one eye you will receive 25% of the cover amount. Any combination of losing the use of two or more of your hands, feet or eyes and you will receive 100% of the cover amount.

If you are an Australian or New Zealand citizen, or hold an Australian Permanent Residency Visa and residing permanently in Australia, you can apply for life insurance with HSBC. You must be 16 to 65 years old to apply for the Life Cover policy, and 16 to 55 to apply for Critical Illness cover, or Permanently Unable to Work cover. To apply for Permanently Unable to Work cover you must also be working in an eligible occupation for at least 20 hours per week.

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