Term life insurance details | HSBC

Term life insurance offers protection tailored to suit your needs

Visit your local HSBC branch to speak with us about term life insurance for your specific financial strategy. We can help you determine the plan that offers suitable terms, premiums and coverage.

You can rest assured knowing that your term life insurance rate will never change, the coverage cannot be decreased and the policy cannot be canceled due to a change in health.

Insurance protection on your terms

Term life insurance provides efficient protection for your wealth and your financial objectives. When you purchase a term life insurance policy you are insured for a defined amount of coverage, at a fixed premium, over a specific period of time (10, 15, 20, or 30 years). Term life insurance generally offers lower premiums than permanent life, and is ideal for periods of increased risk and exposure. If the conditions of your policy are met, your beneficiaries receive a lump sum equal to the amount of coverage you purchased. Proceeds can be used for:

• Paying off a mortgage
• Replacing your income during child-rearing years
• Paying for a child's college tuition.

You may be able to continue coverage after the original period selected, but at an annually increasing premium.

You may want to consider enhancing your coverage with riders:

• Dependent child rider: covers all of your eligible dependent children up to age 23
• Waiver of premium rider: waives your premium during total disability (eligibility requirements apply)
• Accidental–death benefit rider: the coverage amount of your base policy will double in the event of accidental death.

Call an HSBC financial professional¹ at 866.586.4722 or email us to arrange a review that can help you decide what coverage is right for you.