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Understanding the Protection market

Market segments and opportunities

Here is a useful summary of the key segments for protection, explaining core needs and potential messages you might include in your marketing.

The self-employed
Typically, age 25 to 60
Life Protection and critical illness coverNo sick pay: How long could your client manage if they were diagnosed with a critical illness and are unable to work? Who’s going to look after their family if they are no longer around with no employer benefits available?
Member of employee benefit schemeLife Protection and critical illness coverIs the typical employer cover of 4 x salary enough to look after their family? A regular protection review is essential to achieve full protection
Employed but not in an employee benefit schemeLife Protection and critical illness coverIf they haven’t joined a company employee benefit scheme, then their family won’t get death in service benefits
First home buyers
Typically, around age 30
Life Protection and critical illness coverYour client may have a life insurance policy in place to protect their mortgage but what happens if they are seriously ill?
Young familiesLife and critical illness cover and income protectionFully comprehensive protection for your client’s family, and don’t forget to add income protection from your preferred provider
Over 50sLife protectionTime for later life planning – funerals, lifetime gifts, legacies and Inheritance Tax planning

Focussed resources