HSBC will cover you for accidental death while your life insurance application is considered.
HSBC doesn’t have an “increasing cover” policy, which will increase your premiums but also your payout over time.
With life insurance you can rest assured that your loved ones will be taken care of financially if you are diagnosed with a terminal illness or die.
Maybe you want a policy which will help your partner pay off your mortgage? Or you want to pay for your children’s university fees? Thankfully there are different types of policies to suit your needs.
This guide analyses what HSBC has to offer so you can decide whether any are right for you.
Founded in 1836 HSBC began to facilitate trade between Europe and Asia. These days it has more than 40 million customers around the globe and is one of the biggest banking and financial services organisations in the world.
It sells several different types of insurance in the UK, including home, travel and car protection. To sign up to life insurance with HSBC, you need to be an existing HSBC customer.
HSBC has a few different life insurance products for you to choose from. Here’s a breakdown of what you can get.
Think of it a bit like a phone contract. Once the end date is reached the provider won’t serve you anymore unless you buy a new deal.
Although rather than lasting 18 months, you’ll probably want cover for anywhere between a few years or several decades. Plus you will have to decide whether you want a level or decreasing cover policy.
If you suffer from a condition like a heart attack or cancer, the insurance money could help with rehabilitation costs or even day-to-day expenses for your family.
It will cover you for up to five years of being out of work, offering you a vital cushion if you need to rest or recover due to a serious injury or illness.
Each insurer and every policy will have its own set of exclusions. So remember to check your policy document before signing up. But here are some key reasons HSBC might refuse to pay out:
You can claim by phone (0345 745 6125). To make the process as smooth as possible it’s a good idea to have the policy number and the policy holder’s name to hand. As well as other details such as proof of death.
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