Hong Kong's HSBC Life pilots new health insurance plan

It also combines business talent retention with wealth growth.

Hong Kong's HSBC Life has launched a new whole-of-life insurance plan for its commercial clients that will combine keyman protection and talent retention with wealth growth.

The HSBC Health Goal Insurance Plan (HGIP) offers wealth growth potential with projected return at 4.73% per annum over 30 years, additional critical illness benefits, a simplified underwriting, and a minimum total premium amount of HK$775,115 (US$100,000).

In addition, the plan grants a special feature that allows changing the life insured for up to three times so as to transfer the coverage to different executives. HGIP is also endowed with a value-added service which provides medical advisory and personalised care management.

The launch of HGIP complements the existing suite of life insurance plans offered by HSBC Life to provide wealth growth potential and support business growth.

Earlier this year, the insurer announced that it will provide additional free benefits to all of its life insurance customers and their immediate family diagnosed with COVID-19, with coverage guaranteed for one year.

All existing commercial customers holding a HSBC Life insurance policy, or new customers purchasing an insurance policy before 30 June 2020, can receive complimentary benefits, including hospital cash benefit and extended premium grace period.