HSBC LIFE SECURES DEFAQTO GOLD SERVICE RATING FOR THIRD YEAR IN A ROW
HSBC Life – the HSBC Group’s insurance business – has been awarded a Defaqto Gold Service rating for the third year in a row for its Onshore Investment Bond underlining its focus on supporting advisers in the fast-growing market.
The Service rating, which is based on feedback from financial advisers, builds on a 5-star rating from Defaqto’s independent experts for HSBC Life’s Onshore Investment Bond Select.
Defaqto rates products across more than 60 categories and a 5-star rating means the Onshore Investment Bond Select is considered to be an ‘excellent product with a comprehensive range of features and benefits.
In addition, platform versions of the bond at Fusion Wealth, M&G Wealth and Succession/Openwork received 5-star ratings while the True Potential version received a 4-star rating.
Mark Lambert, Head of Onshore Distribution at HSBC Life (UK) Limited, said: “Financial advisers decide whether companies receive the Defaqto Gold Service rating, so we are delighted to have achieved it for the third year in a row as well as the 5-star rating for our Onshore Investment Bond Select and most platform versions.
“HSBC Life has aspirations for significant growth in the onshore bond market and our priority is to offer advisers and their clients investment choice, transparency and value supported by the highest levels of service.”
The HSBC Onshore Investment Bond a tax effective medium to long term lump sum investment wrapper can be accessed with a minimum investment of £15,000 providing the potential for capital growth while still allowing clients to make withdrawals from their investment. It offers clients access to 3,800-plus funds via open architecture.
The HSBC Onshore Investment Bond combines investment choice, tax-efficiency, and minimal administration costs. It allows the policyholder to hold collective investments for flexibility and tax planning purposes and maintain a consistent strategy across their overall investment portfolio.
HSBC Life (UK) Limited does not replicate funds offered by external fund managers. It enables investment in the funds directly, ensuring that consistency of approach across the investment solutions that advisers recommend to their clients.
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About HSBC Life (UK) Limited
HSBC Life (UK) Limited is a subsidiary of HSBC Bank plc and was founded in the UK in 1988. HSBC Life (UK) Limited offers a range of insurance services to meet protection and wealth management needs and help clients to manage, protect and grow their wealth. Our services and solution are available through HSBC banking channels and selected third parties, including financial advisers and aggregators. For more information on HSBC Life (UK) Limited range of services go to https://www.life.hsbc.co.uk/ and for more information on HSBC please go to https://www.hsbc.com
About HSBC Life
HSBC Life is the insurance business of the HSBC Group. We manufacture life and health insurance products in Hong Kong, mainland China, Singapore, India*, France, UK, Malta, Mexico, and Argentina. HSBC Life offers a range of insurance products to meet the protection, education, retirement, wealth growth and legacy planning needs of our customers. Our services and products are available through HSBC banking channels, selected third parties, including financial advisers and aggregators.
*Through our joint venture, Canara HSBC OBC Life Insurance.
About HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, the Middle East, and North Africa. With assets of US$2,958bn at 31 December 2021, HSBC is one of the world’s largest banking and financial services organisations.