Early critical illness insurance competition has just geared up. After AIA Complete Critical Cover, NTUC VivoCare and AXA’s Early-Payout LivingEnhancer, HSBC is the latest entrant for early critical illness coverage.
Key features of Early Critical Care are
- Coverage of 28 Early, 27 Intermediate and 30 Critical Stage Medical Conditions – making early treatments possible
- Additional coverage on 4 Special Critical Illnesses – not commonly offered in the market such as dengue haemorrhagic fever
- Total of 90 covered illness (including Angioplasty and Other Invasive Treatment for Coronary Artery) – the most* in the market (* Comparing with 4 key insurers that offered products with similar features as at Nov 2011)
- Peace of mind with lump sum payouts equivalent to 100% at all stages (subject to the respective limits) – the highest* in the market
- 14 days survival period – one of the lowest requirement in the market
- Future premiums will be waived till end of term upon an Early or Intermediate stage claim – easing of financial burden
- Choice of term available – to Age 65 or to Age 85
Just a side track, after the announcement of HSBC selling general insurance business to AXA and QBE, many people think that their life insurance policies are affected. Do note the sale is for general insurance only.
HSBC Holdings PLC said Wednesday that it has agreed to sell its general-insurance businesses in Hong Kong, Singapore, Argentina and Mexico to AXA Group and Australia’s QBE Insurance Group Ltd. in separate deals valued at about $914 million in cash.
The move is part of HSBC’s efforts to diversify away from noncore businesses, while focusing on its core banking operations.
Following the completion of the deals, AXA and QBE will become the exclusive providers of general-insurance products distributed by HSBC and its Hang Seng Bank unit to retail and commercial banking customers in Hong Kong, China, Singapore, India, Indonesia, Mexico and Argentina under 10-year bancassurance agreements.
Update on Jan 31, 2012 – This campaign has been extended till further notice.
HSBC has just launched MortgageProtector Campaign from 18 July 2011 to 31 January 2012.
Customers will enjoy a 20% perpetual discount off their MortgageProtector premiums for single life and 14% for joint lives for all application submitted during the campaign period.
MortgageProtector is a mortgage insurance. the key product features are:
- Life protection up to age 70. In the event of death, your family will receive the sum assured in a lump sum.
- Total and permanent disability coverage up to age 65
- Flexible plan with a wide range of terms available from 10 to 40 years, and interest rate from 1% to 10% to match your mortgage plan.
- Single or joint coverage are available for joint homeowners who are spouses or family members.
- Affordable premium rates that are guaranteed, giving you the coverage you need at a fixed premium rate. Furthermore, enjoy a one-time waiver on the first month’s premium.
- Premium payment term will end four years before the end of policy term, while you continue to enjoy full coverage.
You can contact me if you are interested in the product.
In celebration, HSBC has put together a lucky draw campaign for all new and existing HSBC customers. This lucky draw campaign includes 8 weekly draws, “Around the World in 8 Weeks“ started from 21 October 2009 and a Grand Lucky Draw to win an Audi A4 1.8T car.
Specially for our customers: If you are an existing HSBC customer, you automatically get one chance in the Audi Grand Lucky Draw. Just our way of saying thank you for your support.
For Lucky Draw, Please refer http://creative.asiaone.com/2009/IA/HSBC_Ins_IA_091001/index.html