Are you looking for a way to grow your wealth while maintaining flexibility in your financial journey? HSBC Life Wealth Voyage might be the investment-linked plan (ILP) you've been searching for. Whether you're just starting your career or you're a seasoned investor, this plan offers features that can help you achieve your long-term financial goals.
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HSBC Life Wealth Voyage is a regular premium investment-linked plan designed to help you grow your wealth over time . It combines investment opportunities with life insurance coverage, allowing you to work towards your financial goals while ensuring protection for your loved ones.
Choose from 15, 20, or 25 years , depending on your long-term financial goals.
Receive bonuses that boost your wealth-growing journey for as long as you stay invested.
Choose between reinvesting dividends or receiving payouts to boost your income.
Spread your investment over time, making financial commitments more manageable.
Take a break from premium payments for up to 24 months if needed, at no extra charge.
Access to nearly 70 world-class funds , allowing you to diversify your portfolio based on your risk appetite.
Enjoy complimentary coverage against death and terminal illness up to age 99, and accidental death coverage up to age 75.
15% to 30% of your regular premium in the first policy year, 15% to 50% in the second policy year
Monthly bonus of up to 1.0% p.a. of your regular premium account value, starts from policy year 3 (for 20 and 25-year MIP) or year 6 (for 15-year MIP)
Monthly bonus of up to 1.2% p.a. of your regular premium account value, begins after your chosen MIP ends
Let's look at how this plan might work for Nadia, a 25-year-old who's just started her career:
Nadia's Plan Details:
Year 0-2 (Age 25-27): Nadia receives start-up bonuses: S$1,500 in Year 1, S$2,700 in Year 2
Year 3 (Age 28): Starts receiving a monthly power-up bonus of 0.10% p.a., which increases over time
Year 11 (Age 36): Switches to a dividend-paying fund with a potential 4% p.a. payout, takes a 12-month premium holiday for a gap year in Europe, Total Account Value (TAV): S$91,331
Year 25 (Age 50): Makes a partial withdrawal of S$20,000 for her 50th birthday celebration, TAV after withdrawal: S$175,010, starts receiving a monthly loyalty bonus of 1.2% p.a.
Year 30 (Age 55): Enters semi-retirement and stops premium payments, TAV: S$230,271
Year 40 (Age 65): Fully retires from her job, TAV: S$309,514
Year 74 (Age 99): Policy matures, Final TAV: S$925,159, Total dividend payouts received since Year 11: S$1,044,889
In this scenario, Nadia doesn't make any withdrawals, aiming to maximize her returns:
Year 11 (Age 36): TAV: S$95,137
Year 25 (Age 50): TAV: S$353,971, starts receiving a monthly loyalty bonus of 1.2% p.a.
Year 30 (Age 55): Retires from full-time job but continues premium payments, TAV: S$544,927
Year 40 (Age 65): TAV: S$1,142,068
Year 74 (Age 99): Policy matures, Final TAV: S$14,863,466
Note: These scenarios assume an illustrated investment rate of return of 8% p.a. and a 1.3% p.a. fund management charge. Actual returns may vary.
Allowed from the 13th policy month until age 70
Permitted from the 25th policy month, subject to charges and minimum holding amount
Allowed after the end of MIP at no charge
Permitted after a certain number of policy years, depending on your chosen MIP
Replace the insured person up to 3 times during the policy term
No charge for regular premiums, 3% for top-up premiums
Applies if you surrender or terminate the policy during MIP
Imposed if you make a partial withdrawal during MIP
Charged monthly by deducting units from your regular premium account
Applies if you take a premium holiday during MIP (waived for the first 24 months)
Charged if you reduce your regular premium during MIP
Varies depending on the funds you choose
Flexible investment periods to suit different financial goals
Attractive bonus structure to boost wealth accumulation
Option to invest in dividend-paying funds for potential regular income
Built-in life insurance coverage
Free premium holiday option for financial flexibility
Wide range of funds to choose from
Various fees and charges that could impact overall returns
Early encashment or partial withdrawals during MIP incur charges
Performance is subject to market risks and fund performance
Complexity of the product may require careful consideration and understanding
Have a long-term investment horizon (15 years or more)
Want to combine wealth accumulation with life insurance protection
Prefer regular, manageable premium payments
Desire flexibility in your investment journey
Are comfortable with market-linked returns
Have a short-term investment outlook
Prefer guaranteed returns
Are risk-averse and uncomfortable with market fluctuations
Cannot commit to regular premium payments for an extended period
HSBC Life Wealth Voyage offers a comprehensive solution for those looking to grow their wealth over the long term while maintaining some financial flexibility. Its bonus structure and investment options provide potential for significant returns, while the built-in insurance coverage adds an extra layer of protection.
However, like all investment-linked plans, it comes with risks and complexities. The various fees and charges, as well as the impact of market performance on your returns, need careful consideration.
Before deciding if HSBC Life Wealth Voyage is right for you, it's crucial to assess your financial goals, risk tolerance, and long-term commitments. Consider consulting with a financial advisor who can provide personalized advice based on your individual circumstances.
Remember, investing is a journey, and the right plan can help you navigate towards your financial destination with confidence.
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Read the complete transcript of our expert discussion about HSBC Life Wealth Voyage. This detailed analysis covers key features, benefits, and important considerations for potential policyholders.
Have you ever found yourself daydreaming about that perfect financial future? Maybe it's not just a jet-setting retirement, but also making sure
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