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SecureIncome
SecureIncome
Designed to suit your various needs, SecureIncome offers you the flexibility to plan your retirement early. With guaranteed income payout during the income term, it provides an additional source of funds for your retirement and the assurance of income post retirement. It is easy to apply for SecureIncome as no medical underwriting is required.
Benefits at a glance
Guaranteed reward upon end of accumulation term
Instead of worrying about the future, you can now look forward to it. SecureIncome lets you establish at the outset, the amount of monthly guaranteed income required. During the accumulation term*, it also provides payout in the event of death or terminal illness, which will be more than the premiums paid.
At the end of the accumulation term, you will receive a guaranteed reward which you can choose to spend any way you like. Kick-start your retirement with a lump sum payment, receive a fixed monthly income upon retirement, or accumulate your monthly income with us to earn the prevailing non-guaranteed interest, whichever serves your needs better.
Flexible premium payment options
SecureIncome offers you the flexibility to plan your retirement around your lifestyle needs. You can determine your premium amount in accordance to the income you would like to receive, and opt to pay with a single premium or via monthly premiums where the number of years of payment is determined by you#. To complement CPF LIFE, SecureIncome gives you a head start by allowing you to prepare for your retirement even if you are in your 20s.
Income flexibility and no medical underwriting
SecureIncome offers flexible income payout options to cater to your financial commitments and postretirement lifestyle. You get to decide how you want to receive your income payout via different draw down options. This can either be:
- a stream of regular monthly income over a period of 10 years or
- if you do not require immediate access to your cash, you can roll-over the monthly income and earn non guaranteed interest at the rate applicable from time to time, and receive a maturity payment at the end of 10 years. You may also withdraw your guaranteed reward and maturity payment in accordance with the term or installment quantum agreed with us.
You or the person entitled to the death benefit can choose to receive the remaining payout in lieu of the death benefit until the end, if the life insured passes on during the payout term.
Applying for SecureIncome is hassle-free as there are no health checks.
The answer to Singapore's top two retirement fears - illness and unemployment benefit
To allay your fear of the financial drain an unexpected illness may cause, SecureIncome offers
Terminal Illness cover. Upon diagnosis of a terminal illness, you will receive the death benefit in advance, providing comfort at a financially draining time.
Loss of employment will no longer affect the continuity of your retirement plan, as SecureIncome comes with unemployment benefit+ that will ensure the continuation of your policy even if you are unable to pay your premiums due to job cuts. With 365 days of extended premium grace period, we offer you ample time to find another job without causing the policy to lapse.
Funding executive bonus for key employees
SecureIncome can also assist you in your business endeavours. If you are a business owner who wants to retain your key employees, you can insure them with SecureIncome.
SecureIncome allows you to fund an executive bonus to reward your key talents with monthly income over 10 years.
It also gives you the flexibility to continue the policy by changing the named life insured to another employee if the key employee leaves. This change in life insured^ feature is available on SecureIncome 10 for corporate-owned policies.
How SecureIncome Income works
SecureIncome is a limited pay plan designed to build up your savings for retirement. It accumulates for a predefined period of 10 years or up to age 55 depending on the plan you choose, known as the accumulation term, after which you will receive a monthly income payout over a 10-year income term. You can opt for a lump sum guaranteed reward at the end of this accumulation term instead of a regular income, in which case the policy will end.
SecureIncome has two phases: during the accumulation term it is a limited pay non-participating plan, and it continues as a participating plan during the income term. See illustration below for SecureIncome 10.
At the start of the income term, you will receive the income payment according to the option you've selected.
Act now
The earlier you begin planning, the higher your chances of achieving your dream retirement. SecureIncome can provide you with guaranteed monthly payout that is customised to suit your retirement needs.
Speak to our staff at any HSBC branch or your Relationship Manager or Personal Wealth Manager to start planning for a better future. Alternatively, you may call our 24-hour Customer Service hotline to make an appointment
Call 1800-HSBC NOW (4722 669)
* Accumulation term for SecureIncome 10 and 55 is 10 years and up to age 55 next birthday, respectively.
# Maximum payment term for SecureIncome 10 and 55 is six years and up to age 50 next birthday, respectively.
+ Benefit offered is interest free. There is a waiting period of one year from date of inception or reinstatement. This benefit ends at the end of the premium payment term or age 65, whichever is earlier. This benefit is not applicable to corporate-owned policies.
^ Acceptance of the new life insured will be at Company's discretion and will depend on the insurability of such replacement Life Insured. We may, at our discretion, reduce the death and terminal illness benefit to 101% for the first five years from the date of this change.
Important notes
SecureIncome is underwritten by HSBC Insurance (Singapore) Pte. Limited (Reg. No. 195400150N), 21 Collyer Quay #02-01 Singapore 049320. 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 HSBC Insurance Singapore (Pte) Ltd's authorised agents or distributors, including The HongKong and Shanghai Banking Corporation Limited (together "the Agents").
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.
This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the LIA or SDIC web-sites (www.lia.org.sg or www.sdic.org.sg).
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 webpage. Under no circumstances, including, but not limited to negligence, shall the Agents or any party involved in creating, producing or delivering the webpage 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 the insurance product and service purchased by you. 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
Call us on 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas
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