Hong Kong: HSBC Life launches a whole-of-life insurance plan and dementia protection rider to its annuity plan

| 30 Jul 2019

HSBC Life has launched two insurance solutions to meet customers' health and wealth needs - the new HSBC Health Goal Insurance Plan ("HGIP") and HSBC EarlyIncome Annuity Plan ("EIAP") with new Dementia Protection rider.

HSBC Health Goal Insurance Plan

HGIP is a whole-of-life insurance plan, which helps customers strengthen protection against three major critical illnesses, while offering growth potential for their wealth.

Putting the focus on the top three diseases that kill in Hong Kong – cancer, heart disease and stroke, the plan offers cash benefit for up to three times additional claim payments, without affecting the policy value.

To provide customers with extra support, HGIP also comes with Global Medical Care Services, which provide customers with personalised care management and privileged access to leading Harvard-level specialists and hospitals in the US.

Dementia Protection Rider

In addition, with the aim of providing long-term care solutions to customers to alleviate their eldercare burden, HSBC Life has added a new Dementia Protection rider to EIAP, one of HSBC Life’s most popular annuity plans.

Read: Singaporeans will struggle to afford healthcare costs of living to 100 - Study

Dementia Protection offers an additional 100% in monthly guaranteed annuity payment to customers who are diagnosed with severe dementia, payable until age 99 or the death of the life insured.

Health management and financial planning equally important

Edward Moncreiffe, CEO, Hong Kong, HSBC Life, said, “People of Hong Kong are becoming more health conscious and want to ensure they can maintain quality of life. Health management and financial planning are, therefore, equally important when we plan for retirement.”

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