HSBC Life Singapore launches flexible income IUL plan to support longevity and retirement trends

Longer lifespans¹ and changing retirement patterns are reshaping how individuals approach financial planning globally. In Singapore, the proportion of citizens aged 65 and above is projected to reach about one in four by 2030²  – underscoring the growing importance of planning for income sustainability over extended lifetimes.

At the same time, retirement mindsets are evolving. According to the HSBC Quality of Life Report³, nearly one in two affluent Singaporeans plan to take at least one “mini retirement” over their lifetime, reflecting a shift away from viewing retirement as a single milestone. However, confidence in financing these breaks remains lower in Singapore (62%) compared to the global average (74%), reinforcing the need for flexible income solutions that provide financial security and peace of mind as priorities and circumstances evolve.

Harpreet Bindra, Chief Executive Officer of HSBC Life Singapore, said: “Retirement today is no longer a single life event but a journey that unfolds in stages, often spanning decades. As lifespans lengthen and aspirations evolve, the need for flexible and sustainable income solutions has never been greater. The HSBC Life Indexed Flexi Income plan reflects this shift, providing flexible lifetime income alongside protection and accumulation, so customers can plan with greater confidence across life stages and generations.”

HSBC Life Indexed Flexi Income offers guaranteed lifetime increasing* income options that, once activated, continue up to age 120. The plan allows policyholders to determine when income begins and retain the option to pause or resume payouts as needs evolve across different life stages. It also supports wealth accumulation and legacy objectives through index-linked and succession planning features that can be transferred up to five future generations.

Key Product Features*

Flexible lifetime income

• HSBC Life Indexed Flexi Income features a monthly income structure designed to provide income continuity over longer lifespans. Once activated, monthly income payouts continue across a lifetime, even when policy value reaches zero.
• The plan also introduces Auto Lock-in Income, a market-leading, innovative, and inflation-hedging feature that secures any increases to the income amount based on Index Account or General Account crediting rates. Once the income increases, it will be locked in and never decrease, regardless of market conditions.
• Policyholders choose when to activate income payouts, from as early as the 25th month after policy issuance, and retain the flexibility to pause and resume payouts as their needs evolve.

Accumulation potential with downside protection

The plan offers the flexibility to allocate premiums to an Index Account with access to multiple market indices, or to a General Account for consistent, guaranteed returns.

• The Index Account provides access to a range of global indices, including the S&P 500 Index, Nasdaq-100 Index, S&P Global Diversified Index and S&P U.S. Tactical Multi-Asset Index. Index-linked crediting is supported by a floor rate of up to 1%* for select crediting options, providing downside protection during periods of market volatility.
• The General Account offers steady returns with a guaranteed minimum crediting rate of 2% per annum and an interest rate lock on the first premium paid.
• On full surrender, policy value is secured at a fixed 2% per annum crediting rate. This benefit is guaranteed for up to five generations of legacy transfers.
• Policyholders may also allocate returns or gains from the Index Account to the General Account, allowing them to balance growth opportunities with stability as needs evolve.

Protection and Legacy Continuity

• In addition to income and accumulation features, the plan provides life insurance coverage for death and terminal illness, offering financial protection for dependents.
• It also supports continuity across generations through options to appoint a secondary life insured, designate a contingent owner, and change the life insured up to five times.

Income payouts may be activated at different stages of life, within an age range of 15 to 80, enabling flexibility in how income is accessed and supporting longer-term planning across generations.

The plan builds on HSBC Life Singapore’s ongoing efforts to broaden its suite of integrated protection, accumulation, retirement and legacy planning solutions to meet increasingly complex wealth needs. This includes the launch of its first integrated Health and Wellness Centre located within HSBC’s Star Vista Wealth Centre in Singapore, recent enhancements to its high-net-worth (HNW) product suite and being ranked the #1 HNW insurance brand in Singapore by Affluential for the second consecutive year – underscoring HSBC’s ambition to be the leading wealth manager in Singapore.

Media enquiries:

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