Life Cover

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Life cover

Take care of your loved ones

What is life insurance? A life insurance policy offers financial support to your loved ones if anything were to happen to you.

It pays out a cash lump sum if you die or are diagnosed with a terminal illness. This can pay off any mortgage debt or be used towards living costs.

HSBC Life Cover is provided by HSBC Life (UK) Limited. Terms, conditions, limitations and exclusions apply.

Get a quote in minutes – or use the cover calculator to work out how much cover you may need before you apply.

Get a quick quote

Already have a life policy through one of our insurance providers? Find out how you can manage your policy or make a claim.

Manage your policy

What you'll get with an HSBC Life Cover policy

Fixed premiums

Your premiums will never go up – and the younger you are when you take out your policy, the lower your monthly payments will be.

Lump sum payout

You or your family will get a lump sum if you die or are diagnosed with a terminal illness.

Reliable cover

HSBC Life paid over 97% of claims in 2023.

Why choose HSBC Life Cover?

Quick quote

Get an online quote to cover just you, or you and someone else.
Cover calculator

Work out how much cover you may need just for you.

Choice of cover

Choose from level or decreasing cover, and a single or a joint policy.
Critical illness add-on

Option to add extra cover for 35 conditions (level cover only, decreasing cover is available through our advisers).

Do you need level or decreasing life insurance?

Level cover

This pays a cash lump sum that could be used to help to cover your family's living costs and/or any fixed debt like an interest-only mortgage.

The amount of cover stays the same throughout the policy

Decreasing cover

Usually a little cheaper than level cover, this type of policy is designed to cover decreasing debts, such as a capital repayment mortgage.

The amount of cover reduces over time

What is level cover life insurance?

A level cover policy provides a lump sum that could be used to pay off debts, protect your family's living costs - even go towards your children's further education.

Because the payout amount stays the same for the length of the policy, you and your family will always know how much cover you'll have if the unexpected happens.

Level cover can also be used to protect an interest-only mortgage, as the balance of the mortgage would stay the same throughout the term.

What is decreasing cover life insurance?

A decreasing cover policy also provides a lump sum payout. This type of policy is often used to protect a capital repayment mortgage. That's because the amount that gets paid out if you die goes down over time, in line with your reducing mortgage balance.

If you're just looking to protect your home, you could get the support you need and pay less each month with decreasing cover.

And if you take out a policy for the same amount and term as your HSBC mortgage, the Mortgage Repayment Guarantee will ensure your mortgage is repaid in the event of a successful claim – regardless of any rises in interest rates.

Other options for your HSBC Life Cover

Single or joint policy

Single life policies provide cover for one person. It's tailored to the insured person's needs and pays out once when they die.

Joint life policies provide cover for 2 people. The same cover amount applies to both insured people. It pays out once when either person dies, at which point the policy ends.

Quotes are provided online for both single and joint policies.

Learn more about single or joint insurance cover >

Add critical illness cover

With this add-on, you'd receive a lump sum on diagnosis of one of 35 illnesses and surgical procedures including, cancer (excludes less advanced cases), heart attack, stroke and dementia.

A critical illness policy payout can be used to cover bills and living costs time when you need time off work for treatment. It could also help get treated quicker through private medical care.

Keep in mind, this add-on is only available as level cover. If you need critical illness cover that reduces over time (known as decreasing cover), or a standalone policy without life cover, speak to one of our protection advisers.

What's not covered?

HSBC Life Cover

This doesn't provide cover:

if there are changes to your health, lifestyle or occupation – and you don't tell us about them before the policy starts
if you were to take your own life within the first 12 months of the policy
for death outside the policy term

HSBC Critical Illness Cover

This doesn't provide cover:

for claims for within the first 90 days of the policy start date
if you don’t survive for a period of 10 days from the date of diagnosis
For full details of cover for both policies, view the policy documents.

Who can apply?

You can apply for HSBC Life Cover if:

you're a UK resident (not including the Channel Islands or the Isle of Man)
you're over 17 and under 70 years of age (cover must end before your 80th birthday)
you're registered for online or mobile banking (for joint cover, only one person needs to be registered)

Not yet registered for online banking? Register now

You can add on critical illness cover if:

you're aged between 17 and 69 when the policy starts (cover must end before your 75th birthday)

Need cover after your 75th birthday? Speak to one of our protection adviser.

Things to know

A trust allows the owner of a life policy to specify who can benefit from the policy proceeds after they die.

Find out how to put an HSBC Life Cover policy into trust:

If you wish to put a non-HSBC Life policy into trust, please contact the product provider.

If you’re unsure whether a trust is the right thing for you, please seek legal advice.

Get an HSBC Life Cover quote today

Get a quote in minutes – or use the cover calculator to work out how much cover you may need before you apply.

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Already started an application?

Continue an application you've already started via your online banking.

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Other ways to apply

If you're registered for mobile banking, you can get a quote and apply straight from our app. If not, here's where you can download the HSBC mobile app on compatible devices.

Our protection advisers can discuss your options and recommend a policy that's right for you from our list of selected providers. This service is available at no extra cost to HSBC customers who are UK residents aged 18 and over.

Talk to us

Frequently asked questions

Life insurance pays out a cash lump sum if you die or are diagnosed with a terminal illness. This can pay off any mortgage debt or be used towards living costs, giving you and your loved ones financial peace of mind.

If you're not sure which type of policy or level of cover is right for you, you may want to get some protection advice.

Our advisers can discuss your options and recommend a policy from our list of selected providers, including HSBC Life. This video or phone call service is available at no extra cost to HSBC UK customers who are UK residents aged 18 and over.

You can cancel your life cover policy at any point by calling your product provider. If you have an HSBC Life policy, you can call 0345 745 6125. Lines are open 08:00 to 17:00 from Monday to Friday, excluding public holidays.

If you’re not sure if your cover still meets your needs, you may wish to speak to a financial adviser.

Your life cover policy will run until the end of the term you set when you took out the policy - unless you cancel it before this date. It will only end when your mortgage does if you set the date to coincide.

If you have a level cover policy, you can keep your policy when your mortgage ends to help to cover your family's living costs.

If you used a financial adviser to take out decreasing life cover alongside a mortgage, they will have set it up to end when the mortgage does. Keep in mind that if you make any changes to your mortgage, including making overpayments, your mortgage may end sooner.

If you took your policy through an HSBC Mortgage Adviser, your policy may be due to end after your mortgage. This is because HSBC Life policies can only be set up in full years. This may leave you with more cover than you need at the end of your mortgage term.

You can cancel your life cover policy at any point by calling the product provider. For more details, see manage or cancel your policy.

Take care of your loved ones

What you'll get with an HSBC Life Cover policy

Fixed premiums

Lump sum payout

Reliable cover

Why choose HSBC Life Cover?

Do you need level or decreasing life insurance?

Level cover

Decreasing cover

More on level vs decreasing cover

Other options for your HSBC Life Cover

Single or joint policy

Add critical illness cover

What's not covered?

HSBC Life Cover

HSBC Critical Illness Cover

Who can apply?

Things to know

Important documents

Information on trusts

Get an HSBC Life Cover quote today

Already started an application?

Other ways to apply

Apply in the mobile app

Get personalised advice

Frequently asked questions

What does life insurance cover?

Which life insurance policy is right for me?

Can I cancel my life cover?

Do I have to cancel my life cover policy when my mortgage ends?

You might also be interested in

Manage your policy or make a claim

How much life insurance do you need?

What is critical illness insurance?

Should you get single or joint life insurance?

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