Why is insurance important & what can you protect - HSBC SG (2024)

FAQs

Why is insurance important & what can you protect - HSBC SG? ›

What is insurance? Insurance is a financial product that provides peace of mind and protection against loss, damage or theft. The list of what you can protect is almost limitless, with the most common relating to the things and people you love. For example, you can insure your home, car and phone.

Insurance is your financial plan's safety net – having the right insurance at the right amount protects you and your family from unforeseen events and provides a baseline financial cushion.

Income protection insurance pays you a regular income if you can't work because of sickness or disability and continues until you return to paid work or you retire. Income protection insurance is also known as permanent health insurance.

Our selection of competitive Life Protection and Critical Illness products has been designed to help you protect your clients and their families. Our fully digital offering will help you save time, effort and improve the service you offer to your clients. You're there for them. And we're there for you both.

HSBC's ProtectCare ("this Plan") is underwritten by Allianz Life Insurance Malaysia Berhad (Company No.

Insurance is generally defined as a contract which is also called a policy. An insurance policy is a contract in which an individual or an organization gets financial protection and compensation for any damages by the insurer of the insurance company.

Health insurance is a critical piece of every financial plan. An unforeseen diagnosis or a major accident can leave you with a six or seven-figure medical bill.

This HSBC Premier Worldwide Travel policy protects you against costs that could arise in the course of your travels. It covers such things as cancellations, emergency medical treatment, personal liability, legal expenses and the theft of your money.

Fixed pay. Annual leave. A range of benefits, which may cover areas such as work-life balance, insurance and savings, health and personal development. Employee share plans and discretionary pay awards based on performance.

It has a reliable life insurance pay out record - with over 98% of claims paid in 2022.

Is HSBC federally insured? ›

Save safely: Your money is FDIC insured to the maximum permitted by law.

HSBC Home Insurance is underwritten by Aviva Insurance Limited.

HSBC Life is the insurance arm of the HSBC Group, one of the world's largest banking and financial services organisations. We leverage the group's expertise to provide you with holistic financial solutions tailored to help you take charge of your life confidently.

Provision of Economic Protection: It protects you against unexpected losses that can affect your finances. 4. Maintains Standard of Living: Insurance gives you a level of protection that ensures you maintain your standard of living. 5. Grants/Loan: The insurance policy can be used to apply for loan as a security.

Buying life insurance protects your spouse and children from the potentially devastating financial losses that could result if something happened to you. It provides financial security, helps to pay off debts, helps to pay living expenses, and helps to pay any medical or final expenses.

Key Takeaways

Only a handful of states enforce financial penalties if you don't have health insurance but it's still wise to have the financial protection. Most people without health insurance say that not being able to afford coverage is the reason that they're uninsured.

Insurance in general is meant to protect you financially if something bad happens that is expensive to fix or recover from. You might get insurance for your car, life, your apartment, or even your phone. When you have insurance, you pay a little bit each month.