HSBC Life Singapore unveil new term life and IUL plans

The term life insurance plan offers coverage terms up to age 100.

HSBC Life Singapore has launched two new insurance solutions, HSBC Life Term Protect Secure and HSBC Life Diamond Prestige IUL III.

These are designed to provide greater flexibility across protection and wealth planning as longer lifespans reshape financial needs in Singapore, HSBC Life said in a statement on 9 September 2026.

HSBC Life Term Protect Secure is a term life insurance plan, offering customers coverage terms extending up to age 100. Customers are offered 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.

HSBC Life Diamond Prestige IUL III is an indexed universal life (IUL) plan offering lifelong
protection and support legacy planning, with an emphasis on accumulation, preservation, and transfer of wealth.

It offers two new index sub-account options, Gold Prestige and S&P 500 Pro, for a total of six options. Selected index options offer participation rates of up to 230%, and floor rates of up to 1% for selected options.

The IUL plan also offers premium payment options that range from single premium to multiple premiums of up to 30 years. Customers can choose to distribute death benefits between 2 to 10 years.

HSBC Life Singapore noted that whilst Singapore residents are living longer—the average life expectancy reached 83.9 years in 2025—there is a 10 year gap between lifespan and health span, based on data from the Ministry of Health.

The Life Insurance Association of Singapore (LIA) separately noted that economically active residents face a persistent 21% mortality protection gap and 74% critical illness protection gap.

HSBC Life’s latest research found that stable growth (39%) and capital preservation
(38%) are amongst the leading legacy planning priorities for high -net-worth individuals
(HNWIs) in Singapore.

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