Life Insurance Questions

Life insurance is the simplest and most popular way to protect your family in the event of your death.  It provides a lump sum payment if you die during the term of the policy.

Life Cover - this policy provides a lump sum that remains at the same level throughout the term of the policy.

Mortgage Life Cover - this policy provides a lump sum that reduces during the term of the policy in line with the capital reduction of a typical repayment mortgage.  Because the amount of the lump sum reduces, the premium for this type of cover is usually cheaper than level Life Cover.

Your gift vouchers will be sent to you after you have made your fifth month's life insurance payment. This offer only applies to new policies.

Yes, both types of cover include Terminal Illness Benefit at no additional cost.  This benefit will pay the lump sum early if you are diagnosed with a terminal illness with less than 12 months to live (this benefit does not apply in the last 18 months of the policy).  The policy will then end with no further benefit payable on death.

Marks & Spencer Mortgage Life Cover has a minimum term of 5 years and a maximum term of 35 years. Cover must cease before your 70th birthday, or if the term is for 10 years or less, before your 75th birthday.

Marks & Spencer Life cover has a minimum term of 2 years and a maximum term of 50 years. Cover must cease before your 70th birthday, or if the term is for 10 years or less, before your 75th birthday.

Unless the claim arises as a result of suicide during the first two years of the policy, the lump sum is payable regardless of the cause of death.  Also, Accidental Death Benefit is provided during the application process and provides free cover, for a maximum period of 60 days, from completion of your application form to the commencement of the policy (please note that we must receive your application form within 14 days of completion).  The amount payable is the chosen amount of life cover subject to a maximum of £250,000.  This cover is not available if you are 60 or over.

Yes you can take out a policy that provides cover for just you or for both you and your partner.  The lump sum will be paid on the first of the lives insured to die.  The policy will then end with no further benefit payable.

This depends on your personal circumstances. If you have dependants you should consider the amount of money they will need to cover their needs until they are financially independent. This is in addition to any borrowing that you need to cover (eg. mortgage).

You can apply for cover starting from £15,000 to the maximum amount of £1,000,000.

Premiums will be taken from your nominated bank account, monthly by direct debit.

No, the premiums will remain the same throughout the term of the policy.

The life cover ends and no benefit will be payable.  No further premiums will be debited from your bank account.

Yes. You can cancel by writing to us at the address shown in the policy document. If you cancel you will no longer have life cover.

If you cancel outside of this period there is no return of premiums and the policy does not have a cash-in value.

Yes, our letter confirming your policy has been put in force will explain how to request a pack. The pack advises how to go about placing your policy in trust and includes the forms you need to complete.

You, the executor or appointed administrator of your estate, or the appointed trustees, should obtain a claim form by calling us on 0845 745 6125 (textphone 0845 766 0391)* or by writing to us at:

HSBC Life (UK) Limited,
Claims Department
Customer Services Centre
PO Box 1011
Bristol
BS99 1GD

*Lines are open 8am to 6pm Monday to Friday (excluding public holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your telephone calls with us.

These are some of the questions we find that our customers are most likely to ask. If these don’t answer your particular question, please call us on 0800 058 2140.These are not intended to provide the full contract details, which can be found in the Policy document.