HSBC Critical Illness Insurance
Critical illness insurance is a policy that provides a lump sum payment if you are diagnosed with a covered critical illness during the policy term.
As one of the world’s largest banking and financial services organizations, HSBC offers a robust Critical Illness Cover. This guide will help you understand HSBC’s Critical Illness Insurance, explaining the policy, its benefits, and the process to make a claim.
What is Covered?
HSBC’s Critical Illness Insurance covers a variety of illnesses, with the benefit paid out if you’re diagnosed with a critical illness covered by the policy during its term. These typically include:
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Certain types and stages of cancer
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Heart attack
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Stroke
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Major organ transplant
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Kidney failure
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Alzheimer’s disease
Always refer to your policy documents for a complete list of covered illnesses, as not all types and stages of these conditions may be covered.
Benefits of HSBC’s Critical Illness Insurance
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Lump sum payment: Upon the diagnosis of a covered critical illness, a tax-free lump sum payment is made.
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Children’s cover: HSBC’s policy typically includes coverage for your children at no extra cost.
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Additional support services: Access to expert medical and emotional support services is provided.
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Flexible policy terms: You can select the length of your policy based on your personal needs.
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Straightforward policy: HSBC’s policies are designed to be simple to understand, with clear terms and conditions.
How to Apply for Coverage
To apply for HSBC’s Critical Illness Insurance, follow these steps:
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Get a quote: Start by obtaining a quote online or by phone. You’ll need to provide some personal information, including your age, lifestyle habits, and medical history.
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Choose your cover: Decide the amount of cover you need and the duration of the policy. Your premium cost will depend on these factors, as well as your personal circumstances.
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Complete the application: Fill out the application form. Be honest and accurate in your responses as inaccurate information could impact a future claim.
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Review and pay: Review your quote, confirm your details, and make your policy payment.
How to Make a Claim
If you need to make a claim, contact HSBC’s claims team as soon as possible. You will need to provide:
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Your policy number
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Details about your diagnosis
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Information from your doctor or specialist
Once your claim is submitted, HSBC will review the information provided and keep you updated on its progress. If your claim is approved, the lump sum payment will be made to you or your estate if you pass away.
Considerations
Before purchasing Critical Illness Insurance, consider your personal circumstances, financial situation, and health. It’s advisable to consult with a financial advisor to determine if this type of coverage is suitable for you. Remember that the policy will not provide cover for all illnesses and will not pay out on death unless it is due to a covered critical illness within the policy term.
Conclusion
HSBC’s Critical Illness Insurance can provide significant financial support if you are diagnosed with a covered critical illness. It’s important to understand the policy’s coverage, benefits, and terms before purchasing. Always refer to your policy documentation for full details of what is and isn’t covered.
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Frequently Asked Questions
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- We offer products from a range of insurers for life insurance and critical illness cover.
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- As we’re not tied to any ONE provider we are able to search our panel of insurers and find you the best price available to us.
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- We are authorised by the FCA to advise our client on their protection needs. Our advisers will assess your demands and needs and recommend a suitable product that will protect you and your family. We get to know our clients and help them to decide on the right cover for the right price from a panel of leading UK insurers.
- We will ask you a number of questions designed to make you think about the shortfall in your income in the event of the death of a partner or breadwinner. Our questions are simple and our advisers avoid jargon making it easy for clients to understand.
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- NOTHING – We do not charge a fee for our service; however, if you take a policy out through us we will be paid by commission from the insurer, but it still costs you nothing.
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