HSBC Life Singapore expands insurance suite to support longer lifespans

Singapore residents are living longer, with average life expectancy reaching 83.9 years in 2025, up from 82.9 years a decade ago. ¹ Yet longer lives do not necessarily mean more years in good health, with the Ministry of Health noting a 10-year gap between lifespan and health span, or the period of life spent in good health. ²

These trends, alongside persistent protection gaps, reinforce the importance of planning for evolving health and financial needs over longer lifetimes, from ensuring adequate protection to preserving and transferring wealth across generations. According to the Life Insurance Association of Singapore (LIA), economically active residents here face a persistent 21% mortality protection gap and 74% critical illness protection gap, ³ while HSBC Life’s latest research found that stable growth (39%) and capital preservation (38%) are among the leading legacy planning priorities for high-net-worth individuals (HNWIs) in Singapore. ⁴

Harpreet Bindra, Chief Executive Officer, HSBC Life Singapore, said: “Longer lives are fundamentally changing the way we need to think about financial security. The gap between lifespan and health span reinforces how closely health and financial resilience are connected, while longer lives also mean wealth needs to work harder and for longer. Our role as an insurer is to help customers build that resilience across life stages, with flexible solutions that can support their protection, wealth and legacy needs as they change across a lifetime.”

Flexible protection across life stages

HSBC Life Term Protect Secure is a term life insurance plan designed to provide comprehensive protection during years of peak financial responsibility, while giving customers the flexibility to adapt their coverage as their circumstances and needs evolve.

Key features include:

• Protection that adapts to changing needs: Customers can choose coverage terms extending up to age 100, with the option to increase their sum assured at eligible life events without additional medical underwriting or convert to an eligible plan before age 70 without further health assessment.
• FlexiMilestone benefit: Designed to offer greater flexibility as financial commitments and priorities evolve, this feature gives customers an option to adjust their coverage at a later stage of the policy as they reassess their protection needs. They can choose to reduce their coverage or fully exercise the benefit and receive a cash payout of up to 50% of premiums paid for the basic plan. *
• Enhanced protection against critical illness: Optional riders provide enhanced critical illness protection of up to S$3 million across up to 170 early, intermediate and advanced-stage critical illness conditions, including special and juvenile conditions, major cancers, heart attack and stroke.
• Option to stay protected to age 100: Customers who select coverage to age 100 can add the Guaranteed Survival Payout II rider, providing a guaranteed payout equivalent to the prevailing sum assured if the life insured reaches age 100.

Lifelong protection for legacy planning

Building on HSBC Life’s flagship indexed universal life plan, HSBC Life Diamond Prestige IUL III is an indexed universal life (IUL) plan designed to provide lifelong protection and support legacy planning, with greater choice and flexibility to accumulate, preserve and transfer wealth.

Key features include:

• Broader diversification: Two new index sub-account options: Gold Prestige and S&P 500 Pro, expand the full range of options to six, joining the existing S&P 500, Nasdaq-100, S&P Global Diversified and S&P U.S. Tactical Multi-Asset, to provide customers with broader exposure across gold, global equities and multi-asset strategies.
• Enhanced growth potential with downside protection: Selected index options offer participation rates of up to 230%, while floor rates of up to 1% for selected options provide protection against negative index returns.
• Greater flexibility and control: Customers can allocate premiums across the General and Index Accounts, and between individual Index Sub-Accounts, in increments of 5%, providing greater flexibility to adjust allocations according to their financial objectives and risk appetite. Premium payment options range from single premium to multiple premiums of up to 30 years.
• Flexible legacy planning: Customers can choose to distribute death benefits over two to 10 years and, for individually owned policies, change the life insured up to two times to support wealth transfer across generations.

The two new solutions build on HSBC Life Singapore’s efforts to broaden its suite of integrated protection, accumulation, retirement and legacy planning solutions to meet increasingly complex health and wealth needs. Recent launches include HSBC Life Prestige Circle, an enhanced proposition supporting complex, cross-border and multi-generational needs of HNWIs, and HSBC Life Indexed Flexi Income, an IUL plan providing lifetime income, wealth accumulation and protection across different life stages.

HSBC Life was recently named the World’s Best Insurance Provider for Wealth Management at the Euromoney Private Banking Awards 2026 and ranked the #1 HNW insurance brand in Singapore by the AFFLUENTIAL™ WealthLens™ Report 2026 for the third consecutive year.

*Terms and conditions apply. For product details and disclaimers, please refer to the HSBC Life Term Protect Secure and HSBC Life Diamond Prestige IUL III product brochures.

Media enquiries:

Carol Chan carol.a.chan@hsbc.com.sg
Urvashi Raizada urvashi.raizada@hsbc.com.sg