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Mortgage Protection Plan

Get a cash lump sum to subsidise your mortgage if you pass away[@covermortgageofdeath]

Cover your mortgage payments for your family

In the event that you pass away before paying off your mortgage, the Mortgage Protection Plan will give your family a cash lump sum to subsidise the mortgage repayments so your family can continue living in the same family home. 

Key benefits

Keep your home protected

Get a cash lump sum to subsidise mortgage repayments if you pass away[@covermortgageofdeath]—this sum will decrease annually per policy terms and an assumed mortgage interest rate of 8% p.a. 

Flexible to your needs

Select the amount of insurance cover and the policy term that best fits your mortgage 

Easy to budget for

You can choose to pay the fixed premium amount monthly or annually—plus, joint applicants can enjoy a 15% discount 

Accommodating to change

If you're under 60[@birthdaydefinition2] and your circumstances change, convert to a different life insurance policy plan[@convertplan]—regardless of your health at the time 

Special offers—Get 6-month premium waiver on your first year's premium

  • Enjoy 6-month premium waiver on your first year's premium when you apply for this plan. Offer ends 31 December 2022. T&Cs apply.
  • Use your HSBC Premier Mastercard® credit card to pay the premium[@toborrowornot] for your new policy and earn up to $6,000 RewardCash. Offer ends 31 December 2022. T&Cs apply.

How to apply

Eligibility

To apply for our Mortgage Protection Plan, you'll need to meet both of these requirements:

  • be aged[@birthdaydefinition2] between 19 and 60 years, with a mortgage repayment scheduled to end before you reach the age[@birthdaydefinition2] of 65.
  • meet our criteria for nationality (country/region/territory), address and residency—which are subject to change from time to time

 

You can enjoy simplified underwriting for your Mortgage Protection Plan if you meet all of these requirements:

  • be aged[@birthdaydefinition2] between 19 and 55
  • be in good health—we reserve the right to ask you to complete a medical examination to confirm this
  • be within 24 months of your HSBC Home Loan application
  • owe less than HKD10 million on your mortgage
  • meet our criteria for nationality (country/region/territory), address and residency—which are subject to change from time to time
 

 

The Mortgage Protection Plan is a life insurance plan underwritten by HSBC Life (International) Limited ("HSBC Life").  It is not equivalent or similar to a bank deposit. Policyholders are subject to HSBC Life's credit risk and early surrender loss.

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Get personalised support from our Insurance Specialists. Book a face-to-face appointment or meet with us over video.

Find out more

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Safeguard your family's financial security and pass on your wealth with our range of life insurance plans 

Notes

    Mortgage Protection Plan is a long-term pure life insurance plan underwritten by HSBC Life (International) Limited ("HSBC Life")  which is authorised and regulated by the Insurance Authority (IA) of the Hong Kong SAR to carry on long-term insurance business in the Hong Kong SAR. It is not a bank deposit or bank savings plan. Please refer to the product brochure for detailed features and the policy provisions for the detailed terms and conditions.

    HSBC Life is incorporated in Bermuda with limited liability, and is one of the HSBC Group's insurance underwriting subsidiaries. The Hongkong and Shanghai Banking Corporation Limited ('HSBC') is registered in accordance with the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong) as an agency of HSBC Life for the distribution of life insurance products in the Hong Kong Special Administrative Region.  This product is a product of HSBC Life but not HSBC and it is intended only for sale in the Hong Kong SAR. If the policyholder discontinues and / or surrenders the insurance plan in the early policy years, the amount of the benefit he / she will get back may be considerably less than the amount of the premium he / she has paid. Your benefit is subject to the credit risk of HSBC Life. Your premiums paid will form part of HSBC Life's assets. You do not have any rights or ownership over any of those assets. Your recourse is against HSBC Life only.

    In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between HSBC and you out of the selling process or processing of the related transaction, HSBC is required to enter into a Financial Dispute Resolution Scheme process with you; however, any dispute over the contractual terms of the above insurance product should be resolved between HSBC Life and you directly.