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Ensure your family always has a home

Provide security for your family for years to come. With our mortgage protection insurance, your mortgage repayments will be protected in the event of your death. That ensures your family can continue living in the family home, safe in the knowledge that mortgage payments are covered.

This is a life insurance plan underwritten by HSBC Life (International) Limited.

Key Features

  • Covers your mortgage payments in the event of your deathfootnote2
  • Select the amount of insurance cover and the term of policy to fit with your mortgage
  • Fixed premium payment, pay monthly or annually for easy budgeting
  • 15% discount for joint applicants
  • If your circumstances change – and you are aged under 60footnote1 – you can convert your plan to a different life insurance- policy regardless of your state of heath at the time

Product Discount Offer

Enjoy up to 3.5-month first year premium wavier upon successful application for Mortgage Protection Plan.

Promotional terms and conditions apply. Please contact us for details.

How to apply?

Instant quote

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At an HSBC branch

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Need to make a claim?

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  • Eligibility
  • Additional benefits
  • Policy documents

What’s included?

Lump sum mortgage repayment protection

If you're not around to finish paying your mortgage, this plan will give your family or any other beneficiaries a cash lump sum which decreases annuallyfootnote2 in accordance with policy term and assumed mortgage interest rate at 8% per annum. The sum insured may not match with the outstanding mortgage amount as the decreasing rate of the sum insured may not be equal to the rate of your mortgage. To ensure you have sufficient protection against your mortgage or fulfil your need, a regular review of your policy is recommended.

Manage your policy online

At HSBC, we understand life never stands still. Which is why you can make changes to your policy online anytime.

It's easy to:

  • check or review your policy details
  • change premium payment instructions, including your premium payment account, payment method or payment frequency

Make a claim

Sometimes life doesn’t go according to plan and you’ll want to make an insurance claim as soon as possible.

Call our telephone claims hotline for help:(852) 2233 3131(852) 2233 3131.

HSBC Term Protector

You insure your most treasured possessions so why not insure yourself in order to protect your family’s future plans? HSBC Term Protector is a pure and simple life insurance product that is cost effective and can be applied online, in minutes, with no medical examination required.

HSBC Term Protector is a term life insurance plan with no savings element, which is underwritten by HSBC Life (International) Limited. It is not equivalent or similar to any kind of deposit.

Goal Access Universal Life Plan (Protection)

Needs and goals can change as you move through life. Our life insurance plan with a savings element can adapt to help you at each and every stage.

Note: Goal Access Universal Life Plan (Protection) is not equivalent or similar to any kind of deposit.

Wholelife Protection Plan

Plan for you and your family’s future with our life insurance plan with a saving element. This plan enables you to achieve your goals by providing you comprehensive lifetime cover and guaranteed long-term savings.

Note: Wholelife Protection Plan is not equivalent or similar to any kind of deposit.

Following your successful applicaiton, the plan continues to provide coverage unless you notify us to cancel the policy in case your need for protection changes, for example, when the property was sold or all related mortgage payments have been settled.

You can call our insurance hotline 2583 8000 or go to our branch for enquiries.

If you decide to top up or extend your mortgage, please re-assess if your coverage is sufficient and you may choose to increase the sum insured of the plan or cancel the existing plan to make another new application in order to meet your protection need.

The plan is designed with level premium, so the same premium will maintain throughout the policy term with no change even when the mortgage balance is reduced. The sum insured under your policy decreases annually in accordance with policy term. The sum insured may not match with the outstanding mortgage amount as the decreasing rate of the sum insured may not be equal to the rate of your mortgage.

Any change to your joint named mortagage protection policy must be signed and agreed by both joint named parties.

You can enjoy Conversion Privilege when the Life Insured’s Insurance Age is less than 60footnote1.Mortgage Protection Plan guarantees that you can convert the policy into a new whole life or an endowment insurance plan with no underwriting.For terms and conditions of the Conversion Privilege, please refer to the provisions for details.

End Notes Select to Expand Select to Collapse

Endnotes

1 We consider your age to be how old you are on your next birthday. So, if you are 54 with a birthday in 6 months’ time, we consider you to be 55.

2 If the death benefit is paid between years, the payment will be determined up to a completed month and on a pro-rata basis.

3 The policy anniversary at which you reach the specified age based on age at next birthday.

4 Available for policyholders aged between 19footnote1 and 60footnote1 holding Hong Kong Identity Card.

5 If you pay off your mortgage, you may apply to convert your policy into other insurance plan for the same amount of the then decreased sum insured at the policy anniversary as may be available by the Company from time to time, regardless of your state of health at the time.


Disclaimers


Mortgage Protection Plan is underwritten by HSBC Life (International) Limited ("the Company") which is authorised and regulated by the Insurance Authority (IA). The Hongkong and Shanghai Banking Corporation Limited (referred to as "HSBC") is an insurance agent authorised by the Company. Your benefit is subject to the credit risk of the Company. Your premiums paid will form part of the Company's assets. You do not have any rights or ownership over any of those assets. Your recourse is against the Company only. This product is a product of the Company but not HSBC and it is intended only for sale in the Hong Kong SAR.


Please refer to the respective product brochure for detailed features and the policy provisions for the detailed terms and conditions. In the event of any inconsistency between the English version and the Chinese version, the English version shall prevail.


HSBC Life (International) Limited is incorporated in Bermuda with limited liability, and is one of the HSBC Group's insurance underwriting subsidiaries.