The offer

(1) For this special offer, HSBC will reimburse you half of the amount of your first six months' premium payments. This will be deposited into your nominated bank account after the first 6 months of your policy has been completed. Note, repayments can only be made to those people still maintaining their policy six months from its inception.

Please refer to the terms and conditions of the policy document for full details of the contract and the limitations and exclusions that apply.

HSBC personal protection cover is provided by AIA New Zealand.

Read the Terms and Conditions

More about Life Insurance with HSBC

The unexpected death of a loved one can have a devastating effect on those who are left behind. Will the family home need to be sold as mortgage payments become unaffordable? Will there be sufficient funds to cover regular living expenses as well as holidays and school fees?

In New Zealand, one in six men and one in nine women who reach the age of 30 will die before 65¹. It is easy to say, "it won't happen to me", but premature death isn't really about you; it's about the people who depend on you for financial support.

Life Cover provides your loved ones with the financial support they need in the event of your death. If you're diagnosed with a terminal illness, you may choose to have your insurance paid out early, allowing quality time for you and your family before your death. We have three types of Life Cover:

• Life Cover
• Level 15 Life Cover that keeps your premiums at the same rate for 15 years at a time, making it easier to budget
• Cash Back Life Cover that has a premium return option and a 20-year term. It provides a partial refund of your premiums after six years – or a 100% refund of your premiums after 20 years – if a claim hasn't been made.

Plus, all our Life Covers have a funeral benefit and a financial planning benefit, giving you extra assurance that your family will be taken care of should the worst happens.

Life Cover pays your family a lump sum of up to $16 million in the event of your death. If you're diagnosed with a terminal illness and death is likely within 12 months, you may choose to receive up to 100% of your cover before your death.

Your family will also get the following benefits:

• Funeral benefit – an accelerated payment of $12,500 after your death
• Financial planning benefit – an additional payment of $750 after your death to help pay for professional financial advice for your family
• Accidental death benefit – free cover in case you have an accidental death while your Life Cover application is being processed (conditions apply).

Standard and Level 15 Life Cover only

When you have Standard or Level 15 Life Cover you can choose to increase your sum assured without further medical evidence, making it easier for you to adjust to your changing life:

• Future Insurability Option – you may be able to increase your sum assured by 20% every second year (special conditions apply).
• Special Events Increase Option – you may be able to increase your sum assured any time you have one of these special events: getting married or a civil union, getting divorced or legally separated, giving birth or adopting a child, getting a salary increase, taking full-time care of a dependent person, your child attending tertiary education or increasing your mortgage.

Further, if you take out a new life policy through HSBC you can benefit from a 0.15% pa discount on your HSBC fixed home loan interest rate.

An additional 20% discount on Mortgage Repayment Cover

Ensuring you have adequate protection to cover your home loan repayments during a difficult time is really important for just about everyone

If you have a home loan, mortgage protection insurance helps to cushion you from future financial problems and protect your investment by ensuring your home stays in your possession.

Depending on the types of cover you choose, it could clear your home loan completely, reduce it or cover repayments if you're unable to work due to an accident or illness.

HSBC's Mortgage Repayment Cover

Mortgage Repayment Cover helps protect your home if you're unable to make mortgage repayments due to illness or accident. It pays your regular mortgage repayments for up to five years while you're unable to work, allowing you to focus on your recovery.

Our Mortgage Repayment Cover also provides a recurrent disability benefit, so if the same disability or illness occurs within 12 months the waiting period is waived for the second episode.

Key benefits

If you have an accident or illness that prevents you from working, our Mortgage Repayment Cover pays your mortgage repayments for you.

You'll also get:

• A recurrent disability benefit, so if the same disability or illness occurs within 12 months we'll waive your waiting period
• An unemployment benefit that pays you an income if you become unemployed.

You can also choose our redundancy benefit, which gives you up to $2,500 a month for up to six months to help with living expenses and give you some breathing space during your recovery.

(2) Furthermore, if you take this insurance in addition to any Life Cover you will receive a 20% discount on your Mortgage Repayment Cover premiums.

HSBC Personal Protection Insurance is provided by AIA, one of the largest publicly-listed pan-Asian life insurance groups in the world, so you can rest assured that you're in good hands.