Life Cover

If you’re struggling to pay your Life Cover, Critical Illness Cover or Income Cover monthly premiums because of coronavirus, help is available. Please visit our support page to find out more.

Life Cover can’t save a life, but it can help protect those loved ones who are left behind from unnecessary financial burden.

HSBC Life Cover offers financial peace of mind to your loved ones, paying a lump sum if you were to die or be diagnosed with a terminal illness.

Always remember to check the policy documents for full details as terms, conditions, limitations and exclusions apply. HSBC Life Insurance is provided by HSBC Life (UK) Limited.

Already have HSBC Life Insurance?

Find out more about your policy.

Key benefits

Affordable cover

Cover from as little as £5 a month
Single or joint

Choose the type and level of cover to suit your needs
Find out how much you need

Use our calculator to work out your individual needs

Reliable pay outs

100% claims paid in 2019
Quick application

Get a quote in minutes
Instant protection

You’re immediately covered by our free Accidental Death benefit

How to apply

Understanding your options

Level or decreasing cover?

With level-term cover, the pay out you receive stays the same throughout the term of the policy. It’s suitable for protecting interest-only mortgages, and also personal loans and debts, university fees for your children, funeral costs and other expenses. Keep in mind the payout does not keep up with inflation.

If you’re looking to protect a capital repayment mortgage, decreasing-term cover could be suitable. Because the insured sum decreases over the term of the policy, this means your monthly payments will be lower than level-term cover. Although the amount you pay will stay the same throughout.

Joint or single cover?

As the name suggests, single cover protects one person. It’s tailored to the insured person's needs and pays out once when they die.

In contrast, joint life cover protects the lives of two people. The same cover amount applies to both of the insured people. And it pays out once when either person dies, at which point the policy ends.

You’re eligible for Life Cover if you’re:

an HSBC current account holder (for joint cover, only one person needs to have an HSBC bank account)
a UK resident (not including the Channel Islands or the Isle of Man)
over 17 and under 70 years of age

Please note, cover must cease before your 80th birthday

Get a quote in minutes

Use our handy calculator to work out how much cover you need and get a quote. To apply online, you need to be registered for online banking.

Continue your application

If you’re taking out a new HSBC mortgage, you can also apply over the phone for single or joint Life Cover. Call us on 0800 169 6333.

Lines open Monday to Saturday 08:00 to 20:00, Sunday 09:00 to 18:00. Calls may be monitored and recorded. Opening hours within the mortgage departments may vary.

Before applying, please take the time to read the following. You may also want to save some of these documents for future reference.

Life Cover policy document and summary of cover (PDF, 370KB) Download

Please note, this document applies to new policies only. If you already have life cover with us, here’s where you can find out more about your policy

Frequently Asked Questions

Life insurance offers financial peace of mind that if something happens to you, your loved ones will be looked after. If you were to die, or get diagnosed with an illness which limits your life expectancy, it would pay a lump sum to your beneficiaries, subject to the normal claims assessment process.

With a level term life insurance policy, your family would be paid the pre-agreed sum of money if you were to die within the term. With a decreasing term policy, the value of the cash paid would go down over the length of the policy. This would typically be bought in line with the amount outstanding on a repayment mortgage.

Yes, you can have more than one life insurance policy. If you’re not sure whether the level of cover you have meets your needs, you may wish to speak to a financial adviser.

HSBC Life Cover covers suicide occurring after the first 12 months of the policy, subject to the normal claims assessment process.

You can cancel your HSBC Life Cover policy at any point by calling HSBC Life on 0345 745 6125. Lines are open 08:00 to 17:00 from Monday to Friday, excluding bank holidays.

If you’re not sure if your cover still meets your needs, you may wish to speak to a financial adviser. If you're having financial difficulty due to the coronavirus pandemic, we may be able to help. Please visit our Financial Support page.

The terms life insurance and life assurance are often used interchangeably – although strictly speaking they mean different things.

Life insurance is protection for a specified amount of time. If the policyholder dies during the term of the policy, the insurance company will pay a sum to their beneficiaries. If they outlive the term of the policy, their beneficiaries will not receive any payment. Therefore, the payment is insured, rather than ‘assured’.

Life assurance on the other hand means the policyholder is covered until they die. It’s also known as ‘whole of life’ cover. With life assurance, a payment is typically made when the policyholder dies.

HSBC Life (UK) Limited use the term ‘life insurance’ to apply to both term and whole of life cover.

Ready to start?

Life Cover can’t save a life, but it can help protect those loved ones who are left behind from unnecessary financial burden.

Key benefits

Understanding your options

Level or decreasing cover?

Joint or single cover?

Applying for Life Cover is easy

You’re eligible for Life Cover if you’re:

Get a quote in minutes

Interested in taking out life cover as part of an HSBC mortgage application?

Details of our cover, forms and other important information

Frequently Asked Questions

What is life insurance?

Can you have more than one life insurance policy?

Does life insurance cover suicide?

Can I cancel my life cover?

What's the difference between life insurance and life assurance?

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