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Whole Life

HSBC Life ValueLife: Lifetime Protection with Limited Premium Payments

In today's uncertain world, securing your family's financial future is paramount. HSBC Life ValueLife offers a unique solution that combines lifetime protection with the flexibility of limited premium payments. This innovative whole life insurance plan provides coverage up to age 99, with premiums payable for only the first 15 years. Whether you're looking to safeguard your loved ones or plan for your own financial security, HSBC Life ValueLife offers a smart way to invest in what matters most – your future.

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HSBC Life ValueLife Coverage and Benefits

HSBC Life ValueLife is designed to provide comprehensive coverage and financial security throughout your lifetime. With a range of benefits and flexible options, this plan adapts to your changing needs as you progress through different life stages. Let's explore the key features and benefits that make HSBC Life ValueLife stand out:

Lifetime Protection

HSBC Life ValueLife offers coverage against death and terminal illness up to age 99. This ensures your loved ones are financially protected throughout your lifetime.

Limited Premium Term

Pay premiums for only the first 15 years and enjoy coverage for life. This feature allows you to secure long-term protection without the burden of ongoing premium payments in your later years.

Flexible Coverage

You have the option to reduce your coverage at either age 65 or 80. This flexibility allows you to adjust your protection as your financial responsibilities evolve, potentially leading to cost savings.

Guaranteed Refund

If you decide to surrender your policy at the end of year 15, you'll receive 100% of the total premiums paid, provided there is no premium loading. This feature offers financial flexibility if your circumstances change.

Maturity Benefit

If no claims are made by age 99, you'll receive a guaranteed maturity benefit equal to 70% of the basic sum insured. This lump sum payment can provide a significant financial boost in your later years.

HSBC Life ValueLife Investment and Savings Components

While HSBC Life ValueLife is primarily a protection-focused plan, it does offer some savings elements that can provide financial benefits over time. It's important to note that this is a non-participating whole life insurance plan, which means it does not participate in the profits of the insurance company's participating fund. Let's examine the key aspects of its savings and investment components:

Guaranteed Cash Value

HSBC Life ValueLife builds up a guaranteed cash value over time. This cash value can be accessed through policy loans or upon surrender of the policy, providing a source of funds if needed.

No Investment Options

As a non-participating plan, HSBC Life ValueLife does not offer investment fund options or projected bonuses. The focus is on guaranteed benefits and protection rather than potential investment returns.

Guaranteed Maturity Benefit

If the policy reaches maturity at age 99 without any claims, you'll receive a guaranteed payout of 70% of the basic sum insured. This can be viewed as a long-term savings component of the plan.

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HSBC Life ValueLife Riders

HSBC Life ValueLife focuses on providing essential life coverage without additional riders. The plan's core benefits include protection against death, terminal illness, and total and permanent disability (TPD) before age 65. These built-in features ensure comprehensive coverage without the need for supplementary riders. However, it's always advisable to consult with a financial advisor to determine if your specific needs require additional protection through separate policies or riders offered by HSBC Life.

Built-in TPD Coverage

Total and Permanent Disability coverage is included in the base plan up to age 65. This provides financial protection if you become totally and permanently disabled, unable to work or perform daily activities.

Terminal Illness Benefit

The plan includes coverage for terminal illness up to age 99. If diagnosed with a terminal illness, you can receive an advance payment of the death benefit to help manage medical expenses and other financial needs.

HSBC Life ValueLife Policy Loan and Surrender Options

HSBC Life ValueLife offers flexibility in accessing the policy's value through loans and surrender options. These features can provide financial relief in times of need or allow you to adjust your coverage as your circumstances change. Here's an overview of the policy loan and surrender options available:

Policy Loans

While specific loan terms are not provided in the product details, HSBC Life ValueLife likely allows policyholders to borrow against the policy's cash value. This can provide a source of funds for emergencies or other financial needs.

Guaranteed Refund

If you surrender the policy at the end of year 15, you'll receive 100% of the total premiums paid, provided there is no premium loading. This offers a full refund option if your financial situation changes.

Surrender Value

The policy accumulates a cash value over time. If surrendered before maturity, you'll receive the surrender value, which may be less than the total premiums paid, especially in the early years of the policy.

HSBC Life ValueLife Claims and Customer Service

HSBC Life Singapore is committed to providing excellent customer service and a smooth claims process for ValueLife policyholders. To file a claim or seek assistance, you can contact HSBC Life Singapore at +65 6880 4888. Their customer service team is available to guide you through the claims process and answer any questions you may have about your policy. For online services, you can access the HSBC Life SG app, which is available for download and provides 24/7 access to policy information and services. Additionally, you can visit the HSBC Life Singapore website at hsbclife.com.sg for more information on claims procedures, policy details, and other customer support resources.

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Conclusion

HSBC Life ValueLife offers a compelling solution for individuals seeking long-term life insurance protection with the flexibility of limited premium payments. This plan is particularly well-suited for those who want to secure their family's financial future, individuals planning for retirement, and those looking to balance protection with potential cost savings in their later years. The combination of lifetime coverage, guaranteed benefits, and the option to reduce coverage as needs change makes ValueLife an attractive choice for many Singaporeans.
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