HSBC Life Singapore has launched two new insurance offerings to provide clients with greater flexibility in protection and wealth planning as longer lifespans reshape financial needs in the city-state.
Singapore residents are living longer, with average life expectancy reaching 83.9 years in 2025, up from 82.9 years a decade ago, according to official statistics. However, the Ministry of Health notes a 10-year gap between lifespan and health span, or the period of life spent in good health.
These trends, alongside persistent protection gaps, reinforce the importance of planning for health and financial needs over longer lifetimes, from ensuring adequate protection to preserving and transferring wealth across generations, HSBC Life says.
The two new insurance solutions are HSBC Life Term Protect Secure and HSBC Life Diamond Prestige IUL Ill.
Key features
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.
Among other features, the plan allows customers to 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.
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.
The plan enables flexible legacy planning. For example, 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 HNWls, and HSBC Life Indexed Flexi Income, an IUL plan providing lifetime income, wealth accumulation and protection across different life stages.
Says HSBC Life Singapore chief executive officer Harpreet Bindra: "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."
