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HSBC Paramount Global Life Insurance Plan II

A comprehensive policy that offers you life protection, potentially increases your savings and helps you plan your legacy

Protect your wealth, safeguard the future

A long-term insurance policy guaranteeing lifetime protection, while giving you the flexibility to meet your legacy planning needs with a range of death benefits.

HSBC Premier Elite and Premier customers can contact your Premier Elite Director or Relationship Managers directly to learn more.

HSBC Paramount Global Life Insurance Plan II
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    Key benefits

    Grow and protect your wealth

    Build your wealth continuously throughout your life, with a Policy Value Management OptionFootnote link 1 to lock in a portion of your policy value when you need more financial certainty.

    Enjoy extra life protection

    Get covered for lifetime protection with free supplementary benefits including Incapacity Protection ServiceFootnote link 2.

    Choose how payout is settled

    Tailor your death benefit settlement from 4 options to suit your loved ones' needs.

    Pass it on to a loved one

    You can change the person insured under your policy for unlimited timesFootnote link 3, or nominate a contingent policyholder to manage any policies you may have in the event of your passing.

    Special offers — Enjoy up to 20% off

    How to apply

    Eligibility

    To apply for the HSBC Paramount Global Life Insurance Plan II, you'll need to meet both of these requirements:

    • the insured person is agedFootnote link 4 between 15 days and 75 years old, depending on the premium payment terms you select
    • meet our criteria for nationality (country/region/territory), address and residency—which are subject to change from time to time

     

    The HSBC Paramount Global Life Insurance Plan II is a whole-of-life participating life insurance plan with a savings element underwritten by HSBC Life (International) Limited ("HSBC Life"). It is not equivalent or similar to a bank deposit. Policyholders are subject to HSBC Life's credit risk and early surrender loss.

    Talk with us

    Contact your Premier Elite Director or Relationship Manager. HSBC Premier customers can also call us on (852) 2233 3322.  

    To enhance your banking experience on the weekend, select branches open 7 days a week now! Book an appointment on a weekend.

    Find out more

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    Get easy access to your policy details, future policy projections, make changes to your policies and more, all via online or mobile banking

    Notes

    1. After your 20th policy year, you may be able to lock in a portion of the net cash value if there are no outstanding policy loans or premiums.

      The amount you choose to lock in is guaranteed upon exercising the policy value management option. It will be allocated to the policy value management balance to accumulate at a non-guaranteed interest rate which will be adjusted from time to time at HSBC Life's discretion. Being able to choose this option is subject to minimum amount requirements on both the:

      -net cash value to be allocated per transaction

      -policy amount after exercising this option

      These requirements may be determined by HSBC Life from time to time without prior notice to the policyholder. For details, please see the product brochure.

    2. While the policy is in force, you may choose your Designated Person and specify the Designated Percentage (10% to 50% of the aggregate cash value), by submitting a written request to us in a form as prescribed by us and subject to our prevailing rules and conditions, without any policy administrative charges. For details, please refer to the Incapacity Protection Service flyer.
    3. The original policyholder can change the insured person under the policy for unlimited times per policy. This option can be exercised after their first policy year or after the end of the premium payment period if all premiums have been fully paid, whichever is later. The change of insured person is subject to evidence of insurability and our approval, based on the underwriting conditions of the insured person.
    4. The age refers to the age the insured person or policyholder, whichever is applicable, will be on their next birthday.
    5. The total basic plan premiums paid refers to the total amount of premiums due under your basic plan—whether or not actually paid—as of the date of death for the insured person. Please refer to the policy provisions for detailed terms and conditions.
    6. The additional accidental death benefit will terminate when the insured person reaches the ageFootnote link 4 of 80 or upon the payout of this benefit or when the policy is terminated (whichever is earlier), subject to a maximum benefit limit of USD3,000,000 or its equivalent per insured person across all additional accidental death benefit issued by HSBC Life. Please refer to the policy provisions of the supplementary benefits for detailed terms and conditions of coverage and exceptions.
    7. If the insured person is diagnosed with a life threatening terminal illness, disease or injury subject to certain pre-requisite conditions, the policyholder will receive the Accelerated Death Benefit, which is equivalent to the lower of: (i) death benefit under this policy; or (ii) USD 2,000,000 less the total amount paid and/or payable under this Accelerated Death Benefit insuring the same insured person under all other life insurance policies issued by us. Please refer to the respective supplementary benefit provisions for the detailed terms and conditions.
    8. The death benefit settlement option 2, 3 and 4 are only applicable to policies without any assignment. Option 3 and 4 are available only to the policy with single beneficiary. Please refer to the policy provisions for detailed terms and conditions.
    9. Cash withdrawals are subject to a surrender charge in the first eight policy years. Please refer to 'Surrender charge' under 'Details of Charges' in the product brochure for details.

    Disclaimer 

    HSBC Paramount Global Life Insurance Plan II is a whole-of-life participating life insurance plan with savings elements underwritten by HSBC Life (International) Limited ("HSBC Life") which is authorised and regulated by the Insurance Authority ("IA") to carry on long-term insurance business in the Hong Kong SAR. It is not a bank deposit or bank savings plan. Please refer to the product brochure for detailed features and the policy provisions for the detailed terms and conditions.

    HSBC Life is incorporated in Bermuda with limited liability, and is one of the HSBC Group's insurance underwriting subsidiaries. The Hongkong and Shanghai Banking Corporation Limited ('HSBC') is registered in accordance with the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong) as an agency of HSBC Life for the distribution of life insurance products in the Hong Kong Special Administrative Region.  This product is a product of HSBC Life but not HSBC and it is intended only for sale in the Hong Kong SAR. If the policyholder discontinues and / or surrenders the insurance plan in the early policy years, the amount of the benefit he / she will get back may be considerably less than the amount of the premium he / she has paid. Your benefit is subject to the credit risk of HSBC Life. Your premiums paid will form part of HSBC Life's assets. You do not have any rights or ownership over any of those assets. Your recourse is against HSBC Life only.

    In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between HSBC and you out of the selling process or processing of the related transaction, HSBC is required to enter into a Financial Dispute Resolution Scheme process with you; however, any dispute over the contractual terms of the above insurance product should be resolved between HSBC Life and you directly.