NEW HSBC LIFE Term Protect Advantage – Find Out The Flexible Premium Options!


HSBC Life launched a NEW term plan called "term protect advantage" and it is a non-participating term insurance plan and it has repriced it since 9nov2020.

If you are looking to cover for life, TPD and CI this plan may offer the most competitive premium!

There are premium flexibility is a unique feature and the guaranteed insurability options is useful. I'd summarise for you below.

UNIQUE FEATURES: Premium term flexibility and Guaranteed Cash Value

Unlike most term plans which requires premium for the entire period, HSBC LIFE term protect advantage plan has premium flexibility.

For example, if you want coverage for 30years till age65 and want premiums to be completed in 20years (age55), it can be customisable.

This will useful for budgeting and financial planning. AXA term plan has a similar feature.

When the premium term is shorter than the term of the plan, there will be guaranteed cash value built up in the policy as shown above.

The cash value will reduce yearly after the premium term ends and eventually, there is NO cash value at end of policy term.

PLUS: More guaranteed insurability options

There are more guaranteed insurability options than most term plans.

These include when turning 21, first full-time employment after graduation, change in marital status, new born baby, buying a property and when life insured's child enter primary or secondary or university.

There is a cap of 100% of the original sum insured of the basic cover or up to a max of $300k per life whichever lower. Option must be exercised 90days of occurrence of life stage.

Lastly, this option must be exercised before the life assured reaches age55.

Watch video below on how to save insurance premiums


Insurers will offer new product features and I believe limited payment term plans like this HSBC Life Term Protect Advantage will become popular.

You may even choose to take the guaranteed cash value by surrendering the plan if you do not have dependents anymore at an older age.

Do also note that as of now, the HSBC Life term protect advantage plan does NOT have early CI accelerator. Suits for coverage for Life/TPD/CI.


Last updated on November 20th, 2020 at 10:35 am

Josh Tan Jian Liang (CHFC) Principal Author: REVIEWS: Practising financial planner with Promiseland Independent Pte Ltd. TJL100057681 EXPERIENCE: More than 14years. Josh Tan is a young parent, speaker, author and founder of TheAstuteParent.
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