HSBC Life Insurance Review

HSBC is a large financial services company that offers banking, investing, and insurance products.

In this guide:

• The History of HSBC
• What Life Insurance policies does HSBC offer in the UK?
• How much does Life Insurance from HSBC cost?
• What do customers say about Life Insurance from HSBC?
• The pros and cons of HSBC Life Insurance
• Claiming from HSBC

The History of HSBC

HSBC was founded in 1865 in Hong Kong. The company was originally called the Hongkong and Shanghai Banking Corporation. HSBC is one of the oldest and largest banks in the world. The bank has over 8,000 branches in 80 countries and territories around the world. HSBC is one of the largest financial services companies in the world. The bank offers a wide range of banking and financial services to its customers. These services include retail banking, commercial banking, investment banking, asset management, insurance, and private banking.

HSBC is a publicly traded company listed on the London Stock Exchange and the Hong Kong Stock Exchange. The company is a constituent of the FTSE 100 Index and the Hang Seng Index.

What Life Insurance policies does HSBC offer in the UK?

HSBC offers a variety of life insurance policies to suit the needs of UK customers. HSBC Life Insurance is designed to give you and your family financial security in the event of your death. It can help to pay off your mortgage, or other debts, and provide a lump sum for your loved ones.

There are two types of HSBC Life Insurance policy available – Level Term Assurance and Whole of Life Assurance. Level Term Assurance is a policy that pays out a lump sum if you die within the term of the policy. Whole of Life Assurance is a policy that pays out a lump sum when you die, no matter when that is. Both policies have a number of options and features that can be tailored to suit your individual needs and circumstances. For example, you can choose to have your premiums paid monthly, or as a lump sum. You can also choose the level of cover you need, and how long you need it for.

If you’re worried about being unable to keep up with payments, most HSBC Life Insurance policies come with a ‘payment protection’ option. This means that if you become unemployed, or are unable to work due to an accident or illness, your premiums will be paid for up to 12 months. To find out more about HSBC Life Insurance, or to get a quote, visit the HSBC website today.

How much does Life Insurance from HSBC cost?

The cost of Life Insurance from HSBC depends on the age of the customer. For example, a 30-year-old UK customer would pay £13.50 per month, while a 40-year-old UK customer would pay £20.42 per month.

What do customers say about Life Insurance from HSBC?

• Customers are generally satisfied with HSBC's Life Insurance policies, although some have experienced difficulty in making claims or felt that the policies were not as comprehensive as they had expected
• The majority of customers who have made claims were happy with the process and the payout, although a few felt that it took too long for their claim to be processed.
• Some customers feel that the premiums are too high, especially for those who are older or have pre-existing medical conditions.

The pros and cons of HSBC Life Insurance

Some pros of HSBC's UK Life Insurance policies include:

• The policies are portable, meaning they can be transferred to another country if the policyholder moves.
• They have no medical exam required for approval. -The company has a wide range of policy options to choose from, including term life insurance, whole life insurance, and universal life insurance.

Some cons of HSBC's UK Life Insurance policies include:

• The policies are not available to residents of Northern Ireland.
• The minimum coverage amount is £50,000, which may be too high for some people.
• The company does not have as much name recognition as some other life insurance companies in the UK.

Claiming from HSBC

According to the latest figures from HSBC, the company paid out 97.1% of all life insurance claims in 2018. This is up from 96.6% in 2017 and 96.3% in 2016.