According to Ministry of Manpower (MOM), last year, during the early days of the pandemic, the unemployment rate in Singapore was very high with more than 20,000 retrenched. In August and September last year, the unemployment rate reached 3.4% and 3.6% respectively, exceeding the unemployment rate during the global financial crisis in 2009.
Because of this, the household income for poor families in Singapore fell by 69%. And many families suffer from financial difficulties which also lead to various mental health problems among Singaporeans.
After experiencing first-hand the challenges brought by the pandemic, it can be seen that Singaporeans require a more flexible insurance plan to get back up and grow their wealth during this global crisis.
Introducing HSBC Life Flexi Protector
As the economy slowly recovers from the pandemic, you will need a flexible solution to help you carefully plan how you would want to invest and save your money. This is where HSBC Life Flexi Protector comes in handy.
HSBC Life Flexi Protector provides your family with lifetime protection while giving you the flexibility to customise your savings and investment plan. This regular premium savings investment-linked insurance plan focuses on your protection with the potential for wealth accumulation. This means that it’s designed to help you achieve your dreams while growing wealth for the family.
Key Features of HSBC Life Flexi Protector
1) Affordable protection plan for young families
From as low as S$100 a month for the coverage against death, total and permanent disability, and terminal illness.
2) Personalise your protection to fit your needs and budget
Option to add on a wide range of supplementary benefits to enhance your protection for greater peace of mind.
3) Customised investment strategy
Access to funds from a wide selection of Asset Managers with a global presence.
4) Redeem your investment at any time
Option to redeem any potential investment returns in partial withdrawals.
5) Offer to increase cover at key milestones
Increase your coverage without the need for medical assessment at key life stages such as marriage or parenthood.
6) Transfer your insurance coverage to your loved one at any time
Exercise the Life Replacement Option (LRO) at any time to change the Life Assured to your spouse or child.
Eligibility and Options
| Entry Age | 1 month old to 70 years oldPolicyholder: 18 to 70 years old |
| Minimum Holding Amount | S$2,500 |
| Payment Mode | Cash only |
| Policy Currency | Choose to invest in SGD or USD according to your preference |
How can HSBC Life Flexi Protector suit your changing needs in this pandemic?
1) Achieve your financial goals
HSBC Life Flexi Protector is the best plan to have now as it helps you achieve your financial goals while first looking after your protection needs. From as low as S$100 per month, you get to adjust and optimise your investment and protection.
2) No more worries and uncertainties
With this affordable and flexible plan, you get to achieve your dreams without having to worry about future challenges or uncertainties. And you will also be protected against death, total permanent disability, and terminal illness.
3) Wide range of riders
HSBC Life Flexi Protector allows you to select from a wide range of riders that are catered for different needs such as Early, Intermediate, and Advanced Stage Critical Illness (ECI) coverage and premium waivers.
4) Wide range of ILP sub-funds
For your investment, you can choose from a wide range of ILP sub-funds that cover various geographies, sectors, and asset types. You will also have access to continuous updates of fund lists according to the latest investment trends and many more.
5) When life changes, the policy changes with you
As mentioned before, this insurance plan is flexible. This means you get the flexibility of withdrawal, premium adjustment, premium holiday, and the transferring of coverage to loved ones.
Many features come withHSBC Life Flexi Protector. And you can benefit from this flexible yet affordable plan to carefully determine how you’d want to grow your wealth and achieve your financial goals during this pandemic.
Here at EΛOL, we understand how challenging it can be to save and invest in this current economy, which is why we believe that this investment-linked insurance plan is the way to go. Specialising in Retirement and Legacy Planning, our friendly financial advisors will answer any questions you have about HSBC Life Flexi Protector.
For more information, get in touch with us and we will reach out to you.