Hong Kong: HSBC Life launches flexible multi-currencies savings plan as global activities increase

| 16 Jan 2024

With increased global mobility, more customers are exploring options such as studying abroad, remote working and even overseas retirement. In light of this growing demand, HSBC Life is introducing a brand-new savings plan - the HSBC Eminent Goal Multi-Currency Insurance Plan (the Plan) that can provide up to nine currency options, catering for customers' international needs across education and retirement planning.

Customers have the flexibility to switch currencies to USD, RMB, HKD, GBP, CAD, AUD, EUR, SGD or MOP up to three times a year at their own choice of time starting from the 3rd policy anniversary or when the policy is fully paid, whichever is later.

At the same juncture, a “policy split option” is also available to let customers adjust their wealth allocation based on their evolving international needs. The currency switch option and policy split option can be exercised simultaneously.    

On top of the flexible features, the Plan also provides guaranteed cash value, special bonus and regular withdrawal option for better wealth accumulation and financial flexibility.   

Mr KC Cheung, Head of Products, HSBC Life Hong Kong and Macau, said, “As the world becomes increasingly borderless and connected, we see a surge in the number of planned or unplanned global activities among our customers as they continue to grow with us.

“We understand customers’ needs change at different life stages, often accompanied by unexpected expenses.  This is why we believe there is a pressing market need for a savings plan that not only offers ample flexibility in currency switching but also efficient wealth accumulation and allocation features.” 

The plan is available in all HSBC branches starting from 15 January.  There is a premium discount up to 21% off, with additional up to 3% off for policies in RMB currency, said a HSBC press release.