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Life Cover

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Why choose Life insurance? 

Life cover pays a lump sum if you die or suffer a terminal illness where death is likely to occur within 12 months.
  • You can buy Life cover insurance up to $1,500,000 depending on your age.
  • Life cover insurance is inflation proofed so the Cover Amount automatically increases each year to keep pace with inflation (the increase can be the greater of the increase in the CPI over the previous year or 5%).
  • For extra protection, HSBC Easy Life Insurance provides lump sum payments for Serious Accidental Injuries such as loss of sight or a limb.
  • Guaranteed Benefit Increases – There are times in life when it's important to review your life insurance needs – when you get married, have a child or take out a mortgage for example. The HSBC Easy Life Insurance policy increases your Life Cover Amount within 90 days of the occurrence of any of the specified events.

Features and benefits:

  • Pays up to $1,500,000
  • Cover increases with inflation

Ways to open:

Online, Branch, Phone

Life insurance options

Permanently Unable to Work Cover

Long-term disability can be financially as well as emotionally devastating.

Permanently Unable to Work cover pays a lump sum in the event that the Life Insured suffers a Sickness or Injury that means they are unlikely ever to be able to work again. It will also pay a lump sum if the Life Insured suffers from a Major Physical Impairment.

  • You can buy Permanently Unable to Work cover up to $1,500,000 depending on your age.
  • Permanently Unable to Work cover is inflation proofed so the Cover Amount automatically increases each year to keep pace with inflation (the increase will be the greater of the increase in the CPI over the previous year or 5%).
  • HSBC Easy Life Insurance Major Physical Impairments include loss of limbs or paralysis, loss of sight and/or loss of hearing.

Critical Illness Cover

  • Sometimes even the healthiest people are diagnosed with illnesses they have little chance of preventing – like cancer. Critical Illness cover is also known as Trauma insurance and pays a lump sum benefit if the insured suffers one of the defined Critical Illness events. Critical Illness cover benefits are paid regardless of the insured's ability to work.
  • You can buy Critical Illness cover up to $500,000.
  • Critical Illness cover is inflation proofed so the Cover Amount automatically increases each year to keep pace with inflation (the increase will be the greater of the increase in the CPI over the previous year or 5%).
  • Major illnesses which are covered under Critical Illness cover generally include (but are not limited to) cancer, stroke and heart conditions.

 

 

 

Who can apply?

You can apply for HSBC Easy Life Insurance if you are a holder of Australian or New Zealand Citizenship or an Australian Permanent Residency Visa and you are permanently residing within Australia at the time of your application.

You are required to complete the application on your own behalf, so your partner needs to be present if you are both applying together.

You must also be between the ages of:

  • 16 and 65 to apply for Life cover
  • 16 and 55 to apply for Critical Illness cover
  • 16 and 55 to apply for Permanently Unable to Work cover
     

If you are applying for Permanently Unable to Work cover you must be working on a permanent basis in an eligible occupation type for at least 20 hours per week. Most types of occupations are eligible to apply for cover; however if your work involves any hazardous activities or if you would like to check your occupation, please contact 1300 362 108 to confirm your eligibility to apply.

Check your eligibility before you apply

It is important that you check the following before you apply for cover:

 

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Allianz Australia Life Insurance Limited AFS Licence No. 296559, ABN 27 076 033 782 is the issuer of this insurance. HSBC Bank Australia Limited (HSBC) ABN 48 006 43 162, AFS Licence No.232595 acts under a referral basis as an agent for Allianz, not as your agent. HSBC receive commission on these insurance products as a percentage of the premium paid for each policy ranging from 10% to 20%. A Product Disclosure Statement (PDS) for insurance products can be requested by calling Allianz on 1300 362 108 or from our website at www.hsbc.com.au. Any advice here does not take into consideration your objectives, financial situation or needs, which you should consider before acting on the recommendations above. You should read and consider the PDS before deciding whether to acquire any product mentioned. HSBC does not guarantee the performance of, or in any way stand behind, the provider of this product.