Singapore: HSBC Insurance launches HSBC Life Variable Annuity

| 21 Mar 2020

HSBC Life Singapore has launched HSBC Life Variable Annuity, a retirement plan which combines the assurance of a steady guaranteed base level of income and the ability to generate upside income potential.


  • A single premium retirement solution that is capital guaranteed plan and offered in USD
  • Offers a high watermark feature that locks in higher income guarantees when account values exceed previous guarantee levels
  • Offers flexibility in that policyholder can access account value with no surrender charge

HSBC Life Variable Annuity offers:

  • A stream of guaranteed retirement income and potential lump sum payout at maturity
  • Fully participate in the market upside locking in higher guarantees along the way – this plan’s ratchet feature increases policyholder’s guarantee on a monthly basis whenever the account value is higher than the existing guarantee
  • Protect against downside risk – Policyholder’s monthly payout will never decrease even when the market falls
  • Flexibility to access the account value without surrender charges
  • HSBC Life FlexConcept Fund - a 10% volatility controlled fund which will invest in a blend of equity and bond markets

Its company statement said that “HSBC Life Singapore is the only insurer to offer this unique product currently”.

According to the Life Insurance Association (LIA) industry report in February 2020, Singaporeans are being pro-active in planning for their retirement.

The industry recorded a 34 per cent increase in the uptake of retirement policies in YTD 4Q2019 compared to a year ago. Retirement policies totaled S$469 million in weighted premium which forms about 11% of total weighted premiums for the year.

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