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Investment Linked Plan

HSBC Life Wealth Abundance: Boost Your Wealth with Confidence

In today's dynamic financial landscape, finding the right balance between wealth accumulation and protection is crucial. HSBC Life Wealth Abundance offers a unique solution that combines investment opportunities with life insurance coverage. This innovative investment-linked plan provides access to nearly 70 world-class funds, allowing you to diversify and grow your wealth with flexibility and confidence. With features like unlimited fund switching, low account maintenance fees, and attractive bonuses, HSBC Life Wealth Abundance is designed to help you achieve your financial goals while ensuring peace of mind for you and your loved ones. Let's explore how this comprehensive plan can boost your wealth and secure your future.

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How Investment-Linked Plans (ILPs) Work

Investment-Linked Plans (ILPs) combine life insurance coverage with investment opportunities, offering a unique approach to financial planning. In an ILP, your premiums are allocated between insurance protection and investment components. The investment portion is used to purchase units in various funds of your choice, allowing you to potentially grow your wealth over time. HSBC Life Wealth Abundance offers access to nearly 70 world-class funds, catering to different risk appetites and investment goals. You can choose from a range of fund options, including equity, balanced, and fixed income funds, to align with your risk tolerance and financial objectives. This flexibility allows you to adjust your investment strategy as your needs and market conditions change, making ILPs a versatile tool for long-term financial planning.

HSBC Life Wealth Abundance Insurance Coverage

HSBC Life Wealth Abundance provides comprehensive insurance coverage to protect you and your loved ones. The plan offers both death benefit and total and permanent disability (TPD) benefit, ensuring financial security in the face of unexpected events. Let's explore the key aspects of the insurance coverage provided by this plan:

Death Benefit Protection

In the event of the insured's death, HSBC Life Wealth Abundance provides a death benefit to the beneficiaries. The benefit amount is typically the higher of the sum assured or the account value, ensuring your loved ones receive financial support when they need it most.

TPD Coverage

The plan also includes Total and Permanent Disability (TPD) coverage. If the insured becomes totally and permanently disabled, the policy pays out a benefit to help manage the financial impact of this life-changing event.

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HSBC Life Wealth Abundance Rider Options

HSBC Life Wealth Abundance offers additional rider options to enhance your coverage and tailor the plan to your specific needs. These riders provide extra layers of protection and benefits, allowing you to customize your insurance plan. While the product details don't specify the exact riders available, typical options for investment-linked plans often include critical illness coverage, hospital income benefits, or additional accident protection. It's recommended to consult with an HSBC Life advisor to understand the specific rider options available and how they can complement your base plan.

HSBC Life Wealth Abundance Investment Component

The investment component of HSBC Life Wealth Abundance offers a diverse range of options to help you grow your wealth. With access to nearly 70 world-class funds, you can create a portfolio that aligns with your financial goals and risk tolerance. Let's explore the key aspects of the investment component:

Diverse Fund Options

HSBC Life Wealth Abundance provides access to close to 70 world-class funds, including equity, balanced, and fixed income options. This wide range allows you to diversify your portfolio and adjust your investment strategy based on market conditions and personal preferences.

Professional Management

The funds are professionally managed by experienced investment teams, ensuring that your investments benefit from expert knowledge and market insights. This professional management aims to optimize returns while managing risk.

Flexible Switching

The plan offers unlimited fund switching, allowing you to adjust your investment allocation as needed. This flexibility enables you to respond to changing market conditions or personal circumstances without incurring additional charges.

Performance Tracking

While specific historical returns are not provided in the product details, HSBC Life typically offers regular fund performance reports. These reports allow you to track the performance of your chosen funds and make informed decisions about your investment strategy.

Fees and Charges

Understanding the fees and charges associated with HSBC Life Wealth Abundance is crucial for making an informed decision. The plan is designed to optimize your returns while maintaining transparency in its fee structure. Here's an overview of the key fees and charges:

Account Maintenance Fee

The account maintenance fee is as low as 2.1% p.a. of the account value of the Regular Premium Account during the Minimum Investment Period (MIP). After the MIP, it reduces to 0.6% p.a. This fee is charged monthly by deducting units from your account.

Premium Allocation

100% of your monthly regular premiums go directly into funds of your choice, optimizing your investment potential. This means there is no premium allocation charge, allowing your entire premium to work towards growing your wealth.

Fund Management Charge

While not explicitly stated in the provided details, investment-linked plans typically include a fund management charge. This fee covers the cost of professional fund management and is usually incorporated into the unit price of the funds.

Surrender Charge

The plan allows for two free partial withdrawals during the Minimum Investment Period. For additional withdrawals or early surrender, there may be applicable charges. It's advisable to consult the product summary for specific details on surrender charges.

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Flexibility and Customization

HSBC Life Wealth Abundance offers a range of flexible features that allow you to customize the plan according to your changing needs and financial circumstances. These options provide you with greater control over your investment and insurance coverage. Here are the key flexibility features of the plan:

Premium Top-ups

You can make ad hoc top-ups from the 13th policy month onwards, up until the life insured turns 70 years old. This feature allows you to invest additional funds when you have extra cash available, potentially boosting your investment returns.

Partial Withdrawals

The plan offers two free partial withdrawals during the Minimum Investment Period. Additionally, ad hoc withdrawals are allowed from the 3rd year onwards, and pre-planned regular withdrawals can be set up after the Minimum Investment Period.

Premium Holiday

After the Minimum Investment Period of 10 years, you have the option to apply for unlimited premium holidays. During this time, applicable policy charges will be deducted from the respective account value, providing flexibility in managing your premium payments.

Adjustable Coverage

While specific details on adjusting insurance coverage are not provided, investment-linked plans typically allow for some flexibility in adjusting your sum assured. This feature enables you to align your coverage with your changing protection needs over time.

Conclusion

HSBC Life Wealth Abundance offers a compelling solution for individuals seeking to grow their wealth while maintaining comprehensive life insurance coverage. This plan is particularly well-suited for:
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