Wealth Select Protection Linked Plan

HSBC HK
Insurance
HSBC Wealth Select Protection Linked Plan

Where life protection and potential wealth growth may meet

Our HSBC Wealth Select Protection Linked Plan offers long-term life protection and a variety of investment choices so you can choose the ones that suit your evolving needs and risk appetite. Each investment choice is linked to an underlying fund authorised by the Securities and Futures Commission (SFC), and managed by investment managers. The premiums you pay will be allocated to your investment choices, which will form the account value of this policy and be subject to fees and charges.

HSBC Premier Elite or Premier customer can contact your Premier Elite Director or Relationship Manager to learn more.

Key benefits

3 levels of sum insured[@insurance-suminsured1]

Choose from 3 levels of sum insured[@insurance-suminsured1]-150%, 200%, 250% of the total premium payable[@insurance-totalpremiumpayable] with option to change[@insurance-suminsured2] any time after the 1st policy anniversary (applicable for insured person who is aged[@insurance-agedefinition] 65 or below)

Guaranteed coverage privilege[@insurance-guaranteedcoverage]

Your policy will stay in force until the policy anniversary immediately after the insured person reaches the end of age[@insurance-agedefinition] 65, as long as they meet specified conditions[@insurance-guaranteedcoverage]

A variety of investment choices

Select from our wide range of investment choices, switch them any time at no cost. You can also opt in to our Risk Matching and De-Risking Service for de-risking measures in preparation for retirement. See investment performance

Loyalty bonus

Get rewarded on the last day of the 5th policy year and the last day of every policy year thereafter while the policy is in effect, on a tiered basis, subject to terms and conditions

For details, please refer to "Death benefit", "Guaranteed coverage privilege", "Variety of investment choices for your selection", "Loyalty bonus" under Section A –Plan features in the product brochure of the offering documents. To learn more about the investment choices and the Risk Matching and De-risking Service, please refer to the investment choice brochure of the offering documents.

Fees and charges

What you need to be aware of

There are two types of ongoing fees and charges at the plan level, policy management charge and insurance charge, which are deducted on a monthly basis from your account value throughout the policy term.
Outside of the plan level, the underlying funds of the investment choices may have separate fees and charges.
If you make any partial withdrawals, or your policy has lapsed or been surrendered, an early encashment charge may apply.

For details, please refer to Section B – Summary of fees and charges of the product brochure in the offering documents.

How to apply

Eligibility

To apply for our HSBC Wealth Select Protection Linked Plan, you'll need to meet both of these requirements:

be aged[@insurance-agedefinition] 19 or above; the insured person can be aged[@insurance-agedefinition] between 15 days after birth and 65 years, depending on the premium payment period selected
meet our criteria for nationality (country/region/territory), address and residency—which are subject to change from time to time

HSBC Wealth Select Protection Linked Plan is an investment-linked assurance scheme, is a life insurance policy issued by HSBC Life (International) Limited ("HSBC Life"). This is not a fund authorised by the Securities and Futures Commission ("SFC") pursuant to the Code on Unit Trusts and Mutual Funds ("UT Code"). This is also not a bank deposit or bank savings plan. Policyholders are subject to the credit risk of HSBC Life and early surrender loss.

Useful documents

Talk with us

HSBC Premier Elite or Premier customer?

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

Find out more

Yes, and the minimum premium amount will depend on the premium payment period you choose.

Single premium

USD12,500 / HKD100,000

Regular premium of 5-year:

USD 208 / HKD1,667 per month
USD 2,500 / HKD20,000 per annum

Regular premium of 10-year:

USD104 / HKD833 per month
USD1,250 / HKD10,000 per annum

Regular premium of 20-year:

USD52 / HKD417 per month
USD625 / HKD5,000 per annum

For details, please refer to 'Premium payment period and policy currency' under Section A – Plan features of the product brochure in the offering documents.

Yes, you can request a partial withdrawal in writing or via HSBC Online Banking. An early encashment charge may be applied if any partial withdrawals have been made during the first nine policy years. You are reminded that making any partial withdrawal will also result in the termination of the guaranteed coverage privilege.

You can top up your account value at any time after the first policy year. Top-up premiums will not have any impact on the total premium payable[@insurance-totalpremiumpayable] or sum insured. Top-up premiums will form part of the account value, which will be subject to relevant fees and charges.

For details, please refer to 'Additional lump sum top-up' and 'Partial withdrawal' under Section A – Plan features of the product brochure in the offering documents.

You can switch between investment choices available under the plan and/or change your current premium allocation instruction of your investment choices without any charges (including without limitation, switching charge and bid-offer spread) through either one of the following ways:

Submit an e-Policy servicing request via HSBC Online Banking or the HSBC HK Mobile Banking app
Complete an 'Application for investment choice arrangement' form in person at any HSBC branch

For details, please refer to Section C – 'Further information about investment choices' in the product brochure in the offering documents.

You will receive the account value, less the early encashment charge and any other charges deductible when the policy is terminated (ie only the net amount will be paid to you).

To surrender the policy, you can submit a written request through a form specified by us.

For details of the surrender process and applicable early encashment charge, please refer to 'Surrender' under Section A – 'Plan features', and Section B – 'Summary of fees and charges' of the product brochure in the offering documents.

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Investment involves risk. Please refer to the product brochure in the offering documents for details including the risk factors. You should only invest in this plan if you intend to pay the premium for the whole of premium payment term. Should you terminate this policy early or cease paying premiums early, you may suffer a significant loss. Your policy may be terminated if the account value is insufficient to pay the fees and charges.

Notes

HSBC Wealth Select Protection Linked Plan is an investment-linked assurance scheme, which is an insurance policy issued by HSBC Life (International) Limited ("HSBC Life"). HSBC Life is authorised and regulated by the Insurance Authority ("IA") to carry on long-term insurance business in the Hong Kong SAR. This plan is not a bank deposit or bank savings plan. Please refer to the product offering documents 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, it is underwritten by HSBC Life and 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.

HSBC Life is subject to the prudential regulation of the IA and this plan has been authorised by the SFC. Such authorisation does not imply official recommendation or endorsement of this plan nor does it guarantee the commercial merits of the plan or its performance. It does not mean this plan is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors.

The SFC does not take any responsibility for the contents of the offering documents of this plan, makes no representation as to its accuracy or completeness, expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of the offering documents of this plan.

Issued by HSBC Life (International) Limited (Incorporated in Bermuda with limited liability)

HSBC Wealth Select Protection Linked Plan