HSBC's LifeEnrich

Make the first move towards a worry-free retirement

Designed to make retirement planning easy and affordable, HSBC's LifeEnrich offers life insurance coverage and income when you retire – in one complete package. A highly flexible plan with different premium and payout options to suit your needs, you can have a worry-free retirement, and focus on fulfilling your retirement dreams.

Benefits at a glance

Save and protect your future
Enjoy life insurance coverage up to 99 years of age plus guaranteed retirement income – all in one complete package.
Flexible premium payout options
Choose the premium payout term to suit a level of commitment that you find comfortable:
- Spread over the full payment term up till your retirement at 55 or 62 years of age.
- Opt for FlexiPay* to convert your payment term to a shorter tenure of your choice.
Guaranteed cash payout at retirement
Receive a guaranteed cash payout of 50% of the initial sum assured at the age that you choose to retire, whether it's 55 or 62 years of age. Subsequently, you will enjoy lifetime insurance coverage for 50% of the sum assured.
Flexible cash payout options
Choose one of three flexible guaranteed cash payout options:
- Withdraw the guaranteed cash payout in one lump sum at 55 or 62 years of age.
- Reinvest the guaranteed cash payout in the plan and accumulate interest at the prevailing interest rate^#. You can choose to withdraw the full amount in one lump sum at any time thereafter until you reach 99 years of age.
- Receive a fixed monthly income for a specified amount or period. Any amount that has not been paid out will accumulate interest at the prevailing interest rate^#.
Waiver of premium upon disability
Future premium payment will be waived in the event of total and permanent disability, while you continue to enjoy the benefits of the plan.
Flexibility to enhance your coverage
Option to add critical illness benefit and other supplementary benefits to your plan for a more comprehensive coverage.

How HSBC's LifeEnrich works

Assuming a 30-year old male non-smoker wants a sum assured of S$200,000 and wants to receive a monthly income of S$500 when he retires at 55 years of age.

With HSBC's LifeEnrich, he simply needs to put aside S$324.70⁺ a month, up to 55 years of age and he will receive:

Guaranteed cash payout
A guaranteed cash payout of S$100,000. This S$100,000 can be converted to a S$500 cash payout that is payable monthly from 55 years of age until the balance amount, including any accumulated interest is paid out (which, in this case, is until 76 years of age, assuming an interest rate of 2.5% per annum).

Life cover

S$200,000 guaranteed life cover up to 55 years of age.
S$100,000 guaranteed life cover from 56 years of age until 99 years of age.

The figures are for illustration purpose only. Insurance eligibility and premiums are subject to underwriting.

Act now

Call 1800-HSBC NOW (4722 669)
Make an appointment with us today

* The revised premium quoted under FlexiPay is based on a guaranteed interest rate of 2.6% per annum. As and when the plan's original premiums are due, the FlexiPay premiums collected including any accumulated interest will be deducted to pay for the plan. Any premium not deducted will accumulate at a guaranteed interest rate of 2.6% per annum. An early withdrawal of FlexiPay usually involves high costs and the FlexiPay surrender value payable may be less than the total FlexiPay premiums paid. Any withdrawal of FlexiPay will result in the interest earned to be less than 2.6% per annum. The illustration is based on the assumption that premiums for FlexiPay are paid promptly. Any late payments on FlexiPay may render the interest credited under FlexiPay insufficient to pay for future premiums on the original plan. FlexiPay is applicable only for applicants from 30 years of age if the retirement age of 55 years is opted for, and 37 years of age if the retirement age of 62 years is opted for.
^# The prevailing interest rate is currently at 2.5% per annum. This interest rate is not guaranteed and is subject to change periodically. All accumulated interest will be paid out on the final payout.
⁺ The monthly premium quoted is based on HSBC's LifeEnrich plan for a 30-year old male non-smoker who makes payments throughout the whole policy term. Payment term can range from one year to 20 years if FlexiPay is opted for. The monthly premium amount ofS$324.70 would be revised to S$679.30 if the ten-year payment term is opted for.

Important notes

HSBC's LifeEnrich is underwritten by HSBC Insurance (Singapore) Pte. Limited 10 Eunos Road 8 #11-01 Singapore Post Centre Singapore 408600. It is not an obligation of, deposit in or guaranteed by The Hongkong and Shanghai Banking Corporation Limited.

This webpage contains only general information, it does not constitute an offer to buy or sell an insurance product or service. It is also not intended to provide any insurance or financial advice. A person interested in this product should read and consider the Product Summary and Benefit Illustration in deciding whether to buy this product. You can ask for the Product Summary from our authorised agents or distributors, including The Hongkong and Shanghai Banking Corporation Limited.

Buying a life insurance policy is a long-term commitment. An early termination of the policy usually incurs high cost and the surrender value payable may be less than the total premiums paid.

The Agents are neither underwriter nor broker for you. To the fullest extent permissible pursuant to applicable law, the Agents make no warranties or representation as to the accuracy, correctness, reliability or otherwise of the content of this marketing material. Under no circumstances, including, but not limited to negligence, shall the Agents or any party involved in creating, producing or delivering the marketing materials to be liable to you for any direct, incidental, consequential, indirect, or punitive damages that result from the use of, or the liability to use, the information in this web site, even if the Agents have been advised of the possibility of such damages.

The Agents and/or their employees will receive a commission from HSBC Insurance (Singapore) Pte. Limited in respect of this transaction. The Agents are not suppliers of the products and services and will not accept liability in relation hereto.

Issued by The Hongkong and Shanghai Banking Corporation Limited, which is incorporated in the Hong Kong SAR with limited liability.

Next steps

Locate an ATM/Branch

Call us on 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas