HSBC Life Wealth Abundance Review

HSBC Life Wealth Abundance is featured in our 6 Best Investment Linked Policies (ILPs) in Singapore (2024)

HSBC Life Wealth Abundance is a regular premium investment-linked policy with welcome and loyalty bonuses to kick-start and boost your investment portfolio. Enjoy a short minimum investment period of 10 years and make regular cash withdrawals thereafter.

HSBC Life Wealth Abundance has been rated by InterestGuru to be the best investment linked policy (ILP) to purchase Fundsmith Equity Fund, a fund that has averaged 15.1% annual return as of 29 September 2023.

HSBC Life Wealth Abundance product details

• Life Policy – Investment-linked policy
• Limited Premium Commitment
  • Short Minimum Investment Period (MIP) of 10 years
• Start-up Bonus
  • You will get up to 12% of your first-year premiums to kick-start your investment plan
• Power-up Bonus
  • You will get monthly power-up bonuses of up to 0.1% of the account value from the 5th policy year up to the 10th policy year
• Loyalty Bonuses
  • You will get monthly loyalty bonuses of up to 0.3% of the account value from the 11th policy year onward
• Low Account Maintenance Fee
  • Enjoy low account maintenance fees at 2.1% per annum during the Minimum Investment Period (MIP)
  • Enjoy lower account maintenance fees at 0.6% after the MIP
• Flexibility in an Investment-Linked Policy
  • You can take unlimited premium holidays (pause premium payments) after the MIP
  • You can make 2 free partial withdrawals during the MIP at no charge
  • You can make ad-hoc withdrawals from 3rd policy year onwards and
  • Pre-planned regular withdrawal after the MIP
  • Ad-hoc top-ups and recurring single premium (RSP) are allowed from the 2nd policy year onwards and before you turn 70 years old
• Access to World-Class Funds
  • Gain investment exposure in over 80 world-class funds such as Fundsmith Equity Fund, which is usually available only to accredited investors, at a low monthly premium
• Death and Accidental Death Coverage
  • Enjoy complimentary coverage against Accidental Death
• Ease of Application
  • No health checks are required to take up HSBC Life Wealth Abundance
    
    

Read about: Investment-Linked Policy: Is it the best option?

Read about: 6 Best Investment Linked Policies in Singapore (Updated)

Features of HSBC Life Wealth Abundance at a glance

Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: Yes

Health and Insurance Coverage
Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No

Health and Insurance Coverage Multiplier
Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No

Optional Add-on Riders
Nil

Additional Features and Benefits
Yes

For further information and details, refer to HSBC Life website. Alternatively, fill up the form below and let us advise accordingly.

Read about: Effects of compounding returns on your investments

HSBC Life Wealth Abundance may be suitable if you are looking for

HSBC Life Wealth Abundance may potentially be a good fit if the following matters to you:

• To participate in the long-term financial returns of investing
• Looking to pay a limited term premium (10 years MIP)
• A full-forced investment-linked policy with no insurance coverage
• Save regularly over a period of time
• Able to take investment risks and comfortable with financial market volatility.
• Potentially higher financial returns compared to traditional Endowment and Whole Life policies.
• Insurance options without medical underwriting
  
  

Read about: An introduction to Investment Linked Policy

HSBC Life Wealth Abundance may not be suitable if you are looking for

HSBC Life Wealth Abundance may potentially be a bad fit if the following matters to you:

• Health and Protection coverage
• High Death and Terminal Illness coverage
• Insurance coverage for Early Critical Illness, Critical Illness or Total Permanent Disability
• Guaranteed financial returns in the long run.
• Insurance policy with a high surrender value in the early years of the policy.
• Expecting an urgent need for withdrawal during a financial market downturn.
  
  

Further considerations on HSBC Life Wealth Abundance

• How is HSBC Life or HSBC Life Wealth Abundance investment returns based on historical performance?
• How does HSBC Life Wealth Abundance compare with Endowment policies from other insurance companies?
• Can HSBC Life Wealth Abundance fulfill my financial, insurance, health, and protection needs?
  
  

The above information may not fully highlight all the product details and features of HSBC Life Wealth Abundance. Talk to us or seek advice from a financial adviser before making any decision about HSBC Life Wealth Abundance.

Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering taking up.

Is HSBC Life Wealth Abundance suitable for me?