By HSBC Life Marketing Team Critical illness cover is there to provide a financial cushion for people facing some of the most difficult times in their lives. That’s why we’ve enhanced our Critical Illness offering with increased cover and payout for new customers. At HSBC Life we’re proud of our claims record and we want to be there when our policyholders need us the most. Since 1988, across all of our distribution channels, we have paid out over 15,500 critical illness claims, totalling £817m. In 2024 we paid out 94.44% of critical illness claims1. Our new enhancements will help us continue this strong track record. Why we’ve made changes We’ve listened to feedback from advisers and industry experts and following customer testing we’ve put together a series of meaningful policy enhancements that will mean we are there to financially assist people who are facing difficult health diagnoses. The CIExpert 2024 Critical Thinking Report explored what clients would really value when it comes to critical illness cover: • 45% of advisers said if clients received a payout immediately after being added to the NHS waiting list, their client would be more likely to buy critical illness cover • 60% of advisers said if additional/ severity payments were paid quickly enough to pay for private treatment, their client would be more likely to buy critical illness cover. So, what’s new? Top up payments (up to age 60) – CI Plus only Additional payouts that reflect the financial obligations of working-age clients. This offers an extra payment of up to £200,000 or the sum assured (whichever is lower) if a claim is made for one of nine listed conditions. Successful claimants could use the money for whatever they want, whether that is private treatment, to pay bills, home adaptations or to cross off bucket list experiences. Conditions covered include: 9 Blindness 9 Heart failure 9 Kidney failure 9 Liver failure 9 Major organ transplant 9 Motor Neurone Disease (MND) 9 Open heart surgery 9 Parkinson’s Disease 9 Traumatic brain injury 10 AUTUMN PROTECT NEWSLETTER Why HSBC Life's new critical illness enhancements are worth knowing about…
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