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HSBC Life Wealth Abundance – Review


HSBC Life Wealth Abundance is the latest product launch from HSBC to add to their diverse suite of Investment linked plans. HSBC Life Wealth Abundance gives you both the protection and flexibility to grow your wealth from as low as $500/month through a choice of over 80 funds. Let us explore the what the key features of the HSBC Life Wealth Abundance.


Bonuses to offset the low ILP charges


Start up bonus: from 8 – 12% first year bonus, depending on the premium paid


Power up bonus: 0.1%p.a from 5th to 10th policy year


Loyalty bonus: 0.3% from 11th policy year onwards


Low policy charges


No Premium charge: 100% of premium paid will be fully invested.


Account maintenance fee: 2.10% during the MIP (first 10 years), and 0.6% after the MIP (after the 10th year onwards)


Insurance charges: There is no insurance charge


Secondary feature of HSBC Life Wealth Abundance


Death benefit: Higher of 101% of regular premium paid or account value


Accidental Death Benefit: Higher of 200% of total regular premium paid or account value


Life replacement policy: Replace life assured up to 3 times to allow longevity in the plan


Why invest with HSBC Life Wealth Abundance


HSCBC Life Wealth Abundance gives the retail investors a low barrier to entry to invest in accredited investor funds like Fundsmith Equity Fund & Pictet - Premium Brands - HP SGD


Furthermore, the plan offers great premium flexibility with the following features:

i) Option to exercise Premium holiday from the 37th month of the policy
ii) Maximum Premium Holiday Duration of 60 months, from the 37th Policy Month onwards
iii) Free partial withdrawal capped at 6% of account value is allowed 2 times, from after 2 policy years onwards.


Caveat to look out for


While the feature of premium holiday offers great flexibility to 'pause' the payment, exercising the premium holiday option will result in the Power-up Bonus (0.1%p.a from 5th to 10th policy year) to be forfeited.


Power-up Bonus can be reinstated only if the policyholder chooses to invest the 'missed' premiums during the premium holiday.


Chat with us to start your investment journey!


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