HSBC Life launches protection-linked plan

It offers life protection and investment options.

HSBC Life has announced the launch of HSBC Wealth Select Protection Linked Plan, a protection-linked plan that has both life protection and offers different investment choices at the policyholder’s discretion.

Each investment is linked to an underlying fund that is authorised by the Securities and Futures Commission and managed by an investment manager. It has a minimum death benefit equivalent to at least 100 % of Total Premium Payable which will be paid to the beneficiary. Any partial withdrawal will have an immediate impact on the Minimum Death Benefit if it is made within the 12 months preceding the date of death of the life insured.

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The plan also offers policyholders the flexibility to freely switch their investment choices or change the level of protection amongst three sum insured options on or before age 65 of the life insured based on their evolving protection needs and circumstances in different life stages.

“For most people, it is not easy to make investment decisions under the prevailing fast-evolving market environment. The Plan enables people to diversify risks by investing in a basket of investment choices with the flexibility to switch their investments freely based on the latest market development. The spread of premium payment also helps to better manage and mitigate risks arising from volatile market movements. Coupled with the de-risking mechanism, we are confident that the Plan will be a solution of choice to meet life protection and retirement needs,” Daisy Tsang, Chief Distribution and Customer Officer at HSBC Life Hong Kong said.