Introduction to HSBC Life Insurance in UAE
HSBC Bank in UAE provides different types of life insurance plans under its Wealth Management section. These life insurance plans are designed to help secure your future against any unforeseen circumstances. Life Insurance plans offered by HSBC include –
- Savings Plus: This is a unit linked regular premium plan. The plan enables you to invest in a range of select investment funds.
- Futura: This is a whole life insurance plan that comes with the option of changing your benefits as per your changing circumstances in life.
- International Term Assurance: This is a term life insurance plan providing cover for you and your spouse with flexible premium payment benefits.
- International Wealth Account: This is a flexible contribution plan that enables you to make both single and regular contributions. The plan provides ample scope for investment growths.
- Simple Life: This is a simple life insurance plan offering cover to you and your spouse at lower premium cost.
- Easy Protection: This life insurance plan offers the easiest and cost effective way to secure the future of your dependents.
Features and Benefits of HSBC Life Insurance
HSBC Life Insurance plans come with a host of attractive features and benefits which include:
- Flexible premium payment option.
- HSBC offers both whole and term life insurance plans.
- You can change your benefits as per your changing requirements in life.
- Minimal paperwork is required to purchase these plans.
- Plans are available in AED, US dollars, Hong Kong dollars and EUROs etc.
- Offer life cover and terminal illness cover.
- Offer coverage for multiple tenures based on your requirements.
- No medical screening is required for plan like Easy Protection.
- UAE national with residence visa can take these life insurance plans. Also, certain plans like International Wealth Account plan can be taken by companies, trustee, apart from individuals.
- HSBC Life Insurance plans are offered by Zurich International Life Company.
- Maximum entry age for HSBC Life Insurance plan varies from plan to plan.
- Minimum entry age required is 18 years.
Premiums of HSBC Life Insurance
Premium charged on life insurance plans offered by HSBC differs based on age, period of cover, type of plan and health and lifestyle related factors of the applicant.
Eligibility Criteria for HSBC Life Insurance
Life insurance plans offered by HSBC can be purchased by any individuals reaching the age of 18 years. The maximum age limit for the plans differs from plan to plan. For International Wealth Account, there is no maximum age limit. For, Easy Protection plan, maximum age limit is less than 60 years; for Simple Life Insurance plan, it is 55 years, and for Savings Plus plan, it is 74 years.
Why choose HSBC Life Insurance plan?
HSBC Life Insurance plans come with a number of attractive benefits and features to help secure you and your dear ones’ future. These plans not only provide financial security against lost or unforeseen circumstance, but you can also use these plans as investment options to plan for your retirement, savings and children’s education.
Other products offered by HSBC in UAE are:
Frequently Asked Questions - FAQs
Can I withdraw money from my life insurance policy purchased from HSBC?
Is holding a valid resident visa in UAE is important to purchase the International Wealth Account life insurance policy offered by HSBC?
Is having a banking account with HSBC is mandatory to purchase HSBC Life insurance policies?
What is the plan term of HSBC Easy Protection?
Yes, you can withdraw fund from plans like Savings Plus and International Wealth Account life insurance plans offered by HSBC
Yes, you need to have a valid resident visa in UAE to purchase the International Wealth Account life insurance policy offered by HSBC.
Yes, for certain policies like Easy Protection, Savings Plus and international Wealth Account, holding a banking account with HSBC is mandatory.
The plan term of HSBC Easy Protection is 15 years.