!
Top of main content

Whole-of-life insurance with guaranteed cash value to help you save

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

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

Key Features

  • Life insurance protection upto the age of 99footnote2
  • Guaranteed cash value which increases gradually throughout the policy term
  • Annual dividendsfootnote4,if any that you can withdraw as cash or rollover to boost policy value
  • Fund your plan with a single paymentfootnote5 or pay over 5, 10 or 25 years, or choose to pay up to age 65footnote3
  • You can also choose to increase protection to your family with gradual increase in the sum insured by 5% each year for 10 years or until the age of 50footnote2 or 55footnote2 (whichever is earlier) without the need for further underwritingfootnote7
  • Optional coveragefootnote8 for total and permanent disability, major illnesses, accidental death and dismemberment, hospital cash and female diseases, at an extra cost

For more details, please refer to Product Brochure


Customer Exclusive

  • Access to ONEdna genetic health test* that can help you understand your own genome and gain a better understanding of your future health. Learn more

The good things in life are worth protecting.
Learn more

ONEdna genetic health test.
Learn more



*Applicable to designated plans only. ONEdna genetic health test is provided by Prenetics Limited. Terms and conditions apply (2-page PDF 195KB).

How to apply

At an HSBC branch

Find your nearest branch



Need to make a claim?

Fax us with the completed claim form.

Download claim form
  • Summary of cover Select to Expand Select to Collapse

    What’s included?

    Life cover

    Your plan pays a lump sum to your family or beneficiaries for the amount you’ve insured plus any accrued dividends upon your death before you reach the age of 99footnote3.

    To increase the protection, you can choose for a gradual increase of your sum insured by 5% each year for the first 10 years or until the age of 50footnote2 or 55footnote2 (whichever is earlier) without the need for further underwriting.

    Your savings

    An integral part of WholeLife Protection Plan is its long-term savings element, which is made up of the following key parts:

    • Guaranteed cash value which increases gradually throughout the policy term and will be equal to the sum insured when you reach the age of 99footnote3
    • Non-guaranteed annual dividends as determined by the Company. The amount of the annual dividends, if any, may vary from time to time at the Company’s discretion

    See more about our policy dividends

    Flexible premium payment

    You can choose the premium payment option that works for you. Pay a single payment, or choose monthly or annual premiums for 5, 10 or 25 years, or pay until you reach the agefootnote3 of 65.

    You cannot withdraw the balance of a single payment unless you surrender the policy; a surrender chargefootnote6 will be imposed before the refund.

    Please refer to the respective product brochure for detailed product features and product risks,and the policy provisions for the detailed terms and conditions.

  • Eligibility Select to Expand Select to Collapse

    Am I eligible?

    WholeLife Protection Plan is generally available to anyone aged 65footnote2 or below. The plan is subject to the relevant requirements on nationality and/or addresses of the policyholder and/or life insured as determined by the Company from time to time.

    Please refer to the respective product brochure for detailed product features and product risks,and the policy provisions for the detailed terms and conditions.

  • Additional benefits Select to Expand Select to Collapse

    More help when you need it

    When life surprises you, additional benefits included in this policy can offer you more support.

    Unemployment benefit

    If you are unemployed for at least 30 consecutive days before the age of 65footnote2, you can defer payments of your premiums for up to 365 days and still receive the full protection of your policy.

    Terminal illness benefit

    If the life insured is diagnosed with a terminal disease and are given a death prognosis of not more than 1 year, we will pay your plan’s life cover benefit in advance.

    Waiver of Premium on Disability benefit

    If you become temporarily disabled for at least 6 months, we’ll pay future premiums on your behalf until you are fully recovered, or until the end of your premium payment period, whichever is earlier.

    Payor’s benefit (for a child’s policy)

    If you buy this policy for your child - aged 18footnote2 or below and you were to die or become temporarily disabled for at least 6 months, we will waive the future premiums until your child reaches the age of 25footnote3 or until the end of your premium payment term or until you are fully recovered (whichever comes first).

    Optional benefits

    You can choose to pay an extra cost to enjoy additional cover against total and permanent disability, major illnesses, accidental death and dismemberment, hospital cash, term protection and female diseases.

    Please refer to the respective product brochure for detailed product features and product risks,and the policy provisions for the detailed terms and conditions.

  • Product Brochure Select to Expand Select to Collapse

    All the information you need in one place


    WholeLife Protection Plan Product Brochure

    See more details of your WholeLife Protection Plan.

    View brochure

  • Policy dividend Select to Expand Select to Collapse

    Policy dividend for Participating Products

    (Not applicable to HSBC Wealth Goal Insurance Plan)

    Participating policy

    HSBC Life (International) Limited ("the Company") issues participating policies, which are life insurance contracts providing both guaranteed and non-guaranteed benefits. The non-guaranteed benefits comprise the policy dividends which allow policyholders to participate in the financial performance of the life insurance operation. The policy dividends, if any, are in form of:

    i) Annual dividends which are declared by the Company on an annual basis. Once declared, the amount of annual dividends for the year becomes vested and will be credited to your policy.

    ii) Special bonus (applicable to Income Goal Insurance Plan only) which is a one-off entitlement declared at some a pre-determined policy year or upon early termination of the policy (e.g. death, surrender etc.) before the pre-determined policy year. The amount of special bonus may change from time to time based on the performance over the entire period before such declaration as well as the prevailing market condition and the actual amount will not be determined until it is payable.


    Please refer to the policy provision of the respective plans for detailed terms and conditions.

    The policy dividends (including annual dividends and special bonus) are not guaranteed, whether they are payable and the size of the dividends to be paid depend on how well the Company has performed with regard to investment returns on the assets supporting the policies, as well as other factors including but not limited to claims, lapse experience, expenses, and the long term future performance outlook. If the performance over the long term is better than assumed level, then dividends paid would increase and if performance is worse than expected then dividends paid would reduce.

    The key feature of participating policies over other forms of insurance policies is that in addition to the guaranteed benefits receivable, policyholders will also benefit from additional dividend payments if the insurance company's performance is better than that required to support the guaranteed benefits. The better the performance, the greater the dividend payments, and, conversely, the worse the performance, the lower the dividend payments.

    Dividend Philosophy

    The Company conducts regular review on the level of dividends payable to policyholders. Both the actual performance in the past and also management's outlook of the long term future performance will be assessed against the assumed level, and where variances arise, gains and losses will be shared with policyholders in a fair and equitable manner though the adjustment of dividend scales.

    When considering the adjustment of dividend scales, the Company also operates a smoothing philosophy in order to maintain a more stable payout to policyholders, so the level of dividends will only be changed if the actual performance is significantly different from the assumed level over a period of time or if management's expectation of the long term future performance changes substantially.

    In order to ensure the fairness between policyholders of participating products, the Company will carefully consider the experiences of different groups of policies (e.g. different products, currencies, issue years etc.) so that each group of policies will receive a fair return reflecting mostly its own performance. To balance the interest between policyholders and shareholders, a dedicated committee is established to provide independent advice on the management of the participating policies and the determination of dividends.

    Investment Policy and Strategy

    The Company follows an asset strategy that

    i) Ensures that we can meet the guaranteed benefits that we have committed to you;

    ii) Delivers to you competitive long-term returns through the non-guaranteed dividends and bonuses; and

    iii) Abides by a pre-defined set of risk tolerance.


    The assets supporting the participating policies predominantly consist of fixed income assets issued by corporate entities with good credit quality (average A-rated or above) and long term prospects. Growth assets, including equity-type investments and alternative investments such as property, private equity and hedge fund as well as structured products including derivatives, are utilized in order to deliver returns reflecting real economic growth in the long run.

    Our investment portfolios are well diversified in different types of assets, and are invested in different geographical markets (mainly Asia, US and Europe), currencies (mainly HKD and USD) and industries. The assets are carefully managed and monitored according to a pre-defined set of risk appetite.

    Target Asset Allocation

    Asset Allocation Table
    Asset Type Allocation %
    Income Goal Insurance Plan Other Plans
    Fixed Income 60%-100% 80%-100%
    Growth Assets
    • Equities
    • Alternative Investments
    0%-40%
    0%-30%
    0%-30%
    0%-20%
    0%-15%
    0%-15%

    There could be slight deviation from the above range due to market fluctuation.

    Actual allocations will take into consideration past investment performance of the assets supporting the policies, prevailing market conditions and future outlook, and the guaranteed and non-guaranteed benefits of the policies. This includes assessing factors such as risk tolerance and real economic growth over the appropriate time horizon.

    For assets supporting Income Goal Insurance Plan, the exposure to growth assets is normally within the range of 0% to 40% during the accumulation period and the exposure will be reduced at the absolute discretion of the Company during the annuity period in order to achieve a relatively stable investment return.

    Accumulation interest rate

    Policyholders can choose , amongst other options, to accept their dividends, endowment coupons and annuity payments either in cash or to leave them with the Company to accumulate with interests (if applicable). The rates of interests are not guaranteed and will be determined by the Company from time to time. The review on such accumulation interest rates will be conducted regularly with reference to the portfolio bond yields, prevailing market conditions, outlook on bond yields, and the likelihood of policyholders leaving their payment for accumulation.

    Fulfillment Ratio and Total Payout Ratio


    Fulfillment Ratio - in respect of non-guaranteed benefits


    Total Payout Ratio - in respect of total benefits including guaranteed and non-guaranteed benefits

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
  • request for withdrawal from dividends and select your preferred settlement option

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 life insurance helpline on (852) 2583 8000 (852) 2583 8000. You may also download and return the completed form to us by fax.

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)

Build a reserve of savings and enjoy peace of mind with a life cover that can be adapted to fit your changing needs.

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

You can get back the guaranteed cash value plus any accumulated dividends and interest (plus the balance of a single payment subject to a surrender charge for single payment policies). Please note that If you cash in or surrender your policy before the maturity date, the amount you get back may be less than the premiums you have paid.

In general, there is a 30-day grace period for premiums that are due. If you cannot make the payment by the end of the grace period, your policy will lapse with effect from the due date of the first unpaid premium unless the net cash value calculated as at the date immediately preceding the due date of the relevant unpaid premium is greater than zero and you have elected a non-forfeiture option.

You can access the policy’s cash value when it matures. However, you are able to withdraw any accumulated dividends and interest whenever you want. In addition you can borrow from the plan before it reaches maturity, provided that the amount does not exceed 90% of the total value of the plan, less any previous unpaid borrowed amount. The interest rate will be advised at the time of borrowing.

The dividend is declared by us annually, based on the Company's overall business performance and investment return. Therefore it is not guaranteed.

After the policy has been in force for more than one year, increase of sum insured is not allowed. A new application has to be submitted. While the policy is in force for less than one year, the Policyholder may request to increase the sum insured. The sum insured of the supplementary benefit(s) may be increased if it/they carry a fixed proportion in related to the basic plan. Any additional requirement depends on the total sum insured in force and is subject to underwriter’s decision.

No. WholeLife Protection Plan is a life insurance plan that gives you protection for your whole life. In addition, it has a savings element that provides you with a guaranteed cash return so you can achieve your long-term target savings.

End Notes Select to Expand Select to Collapse

Endnotes

1 WholeLife Protection Plan is not equivalent or similar to any kind of deposit.

2 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.

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

4 Annual dividends are not guaranteed.

5 The single payment option allows you to pay all the required premiums at a discounted value. The money will be locked into an investment to ensure the premiums paid and the projected investment return will be sufficient for future payments. Therefore you cannot withdraw the balance of a single payment unless you surrender the policy; a surrender chargefootnote6 will be imposed before the refund.

6 For a policy being surrendered in early years, the surrender proceeds to be received under the policy may be significantly less than the premiums paid. For single payment policy, if you surrender the policy in full or partially through reduction of sum insured, a surrender charge which is subject to change by us from time to time will be imposed on the balance of single payment.

7 It is only applicable to the plan with policy term to age 65footnote3. The premium of the increased sum insured is determined according to your agefootnote2 at the time of increase. This option is available for enhanced protection option only.

8 Optional coverage requires additional premiums and is not applicable to policy with single paymentfootnote5 option.


Disclaimers


The policyholder is subject to the credit risk of HSBC Life (International) Limited.

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.

Past, current, projected and / or potential benefits and / or returns (e.g. bonuses, dividends, interests) presented herein are not guaranteed and are for illustrative purposes only.

The actual future amounts of benefits and / or returns may be lower than or higher than the currently quoted benefits and / or returns.

WholeLife 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.

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