The answer to this question could be as simple as ‘whenever life events dictate’. Here’s a checklist:
Buying your first home – to cover any outstanding repayments on your mortgage if you died unexpectedly or suffered a critical illness.
You find a partner – you may have new commitments, joint finances and plans. How would they manage if you were gone or had a critical illness?
Starting a family – more people depending on you, perhaps your partner doesn’t work, will you need a bigger property?
Moving to a bigger property – a larger mortgage, perhaps a larger family?
You start to think about your health – you may be healthy now, but what would happen if you became seriously ill?
Your salary increases – you want to reflect the increases so your family could have a similar lifestyle should you die?
You’re already part of a work life insurance scheme – this employee benefit is good, but is it enough to cover your dependants’ lifestyle if you are not around?
You are self-employed – there’s no company based sick-pay or life cover. What if you died unexpectedly or suffered a critical illness?
You approach retirement – life protection can continue after you finish working and into later life to cover funerals, debts and other expenses.
You’re thinking about leaving assets to those you care about most – life insurance held in a Trust can play an important part in your estate planning.
Policy Booklets
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Click to view page: HSBC Life Protection - Opens in a new window
Download the Policy Booklet to find out more about cover options and benefits
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Click to view page: HSBC Critical Illness - Opens in a new window
Download the Policy Booklet to find out more about cover options, conditions covered and benefits
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Click to view page: HSBC Life and Critical Illness - Opens in a new window
Download the Policy Booklet to find out more about cover options, conditions covered and benefits