Table of Contents

How can I make a change to my policy?

It is important that if your circumstances have changed such as moving house or having a family, that you review your existing cover to ensure that it still meets your needs.

We can discuss your policy and answer your questions.

If you need to update or discuss your policy, such as amending direct details or if you wish to cancel your policy, please call us on 0345 745 6125*.

If you cancel your policy, your cover will be stopped and you will no longer be protected should anything happen in future. This may have a significant impact to your standard of living during a stressful period.

 

* Claims Helpdesk - Opening hours are Monday to Friday - 8am to 6pm (excluding public holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your communications with us.

 

I can no longer afford to pay my premiums.

If you are finding that your budget is tight and experiencing difficulties with your premiums, please call us on 0345 745 6125* to discuss. We may be able to help you so that your policy remains affordable whilst still providing you with a level of protection

 

* Claims Helpdesk - Opening hours are Monday to Friday - 8am to 6pm (excluding public holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your communications with us.

 

How can I surrender my existing HSBC Endowment plan, Investment/Distribution Bond or Whole of Life Policy?

The Application for Total or Partial Surrender Form (PDF) can be used to provide your authority to partially or fully surrender your existing HSBC Endowment plan, Investment/Distribution Bond or Whole of Life policy. Once completed please send to HSBC Life (UK) Limited, PO BOX 6176, Coventry, CV3 9HN. Please note in order to satisfy current money laundering guidelines HSBC Life (UK) limited may need to obtain up to date documentation to confirm your identity and verify your address prior to the benefits being paid. This can best be provided by visiting your local branch. We will contact you if this requirement needs to be met upon receipt of instruction. For any queries on how to complete the form please contact our Helpdesk on 0345 745 6125*. 

 

* Claims Helpdesk - Opening hours are Monday to Friday - 8am to 6pm (excluding public holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your communications with us.

 

How do I submit a claim and how long will the claim take?

We want to make the process as easy and stress free as possible for you and therefore we don't issue claim forms for Life Cover, Terminal Illness, Critical Illness or Income Cover claims as we prefer to have our specially trained claims assessors speak directly to you to get the details of your claim. Your assessor will give you their full name and direct telephone number and will deal with your claim from start to finish. In the first instance, please have basic details regarding your illness and your GP's/hospital consultant's information to hand ready for the callback.

To notify us of a claim please call our Claims Helpdesk on 0345 745 6125*. 

 

The length of the claim will depend on how quickly we can get the information we need. For Income Cover, Critical Illness or Terminal Illness claims we need medical information to confirm that the policy definition for your illness has been met. If you are able to provide a copy of doctor or hospital letters concerning your diagnosis this may speed up the process. Alternatively, we will contact your doctors for the information we need. On average we pay Critical Illness claims within six weeks and Life Cover claims within four weeks of the date the claim is submitted.

 

* Claims Helpdesk - Opening hours are Monday to Friday - 8am to 6pm (excluding public holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your communications with us.

 

What documents will I need to claim?

To assess a claim under Income Cover, Critical Illness or Terminal Illness benefit we will need information from your doctors to confirm the policy definition of your illness has been met. If you have a hospital correspondence which confirms your diagnosis, we may be able to use these in our assessment. Alternatively, we will contact your doctors to request the information we require. For Life Cover claims we require the original death certificate and legal documents e.g. Probate or Letters of Administration. You can take these documents into a local HSBC branch where these can be sent to us. Alternatively you can contact our Claims Helpdesk, who will be able to answer your query on 0345 745 6125*.

 

* Claims Helpdesk - Opening hours are Monday to Friday - 8am to 6pm (excluding public holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your communications with us.

 

How do I know if my critical illness condition is covered?

To find out if a particular critical illness is covered under your policy please contact our Claims Helpdesk on 0345 745 6125*.

* Claims Helpdesk - Opening hours are Monday to Friday - 8am to 6pm (excluding public holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your communications with us.

 

Can the pay out from my Critical Illness or Life Cover claim be used to pay off part/all of my mortgage?

Yes, if your Critical Illness or Terminal Illness claim is successful, you can use the payment to pay off your HSBC mortgage and we can arrange this for you. If your mortgage is held elsewhere you will need to arrange this yourself. Once you have notified us of the claim, one of our specially trained claims advisors will discuss the options for payment with you.

 

Will my policy be affected if the claim doesn't meet the criteria?

No, if your claim for Income Cover, Critical Illness or Terminal Illness benefit is not paid because the policy definition has not been met, your policy will continue in the normal way, as long as you continue to pay your premiums.

 

Is there an early repayment charge on my HSBC mortgage if I choose to have the proceeds paid to me and not direct to my HSBC mortgage?

No, if the proceeds are as a result of a Life Cover, Critical Illness or Terminal Illness claim you will not be charged an early repayment fee by HSBC's Mortgage Service Centre.

 

Can I claim on my Income Cover policy from the first day that I’m absent from work?

No, your policy will have a deferred period which is the period between your first day off work and the point at which you will start receiving benefit.

During the deferred period you can use your employer's benefits or sick pay before using the benefits of your policy. You need to let us know as soon as you're spending time away from work due to ill health so that we can discuss your policy and claim.

 

Should I cancel my direct debit when I submit a claim for Income Cover, Critical Illness or Terminal Illness cover?

Please continue to pay your monthly premiums whilst the claim is being assessed. Once the claim is accepted, your premiums will automatically cease and any premiums paid after the date you notified us of the claim will be refunded to you.

 

Where can I get support after a bereavement?

Our Bereavement Support Team can help you at this difficult time - get in touch as soon as you can following the death of a loved one and we'll provide you with the support you need and start sorting out the HSBC accounts. Please call us on 0800 085 1992*.

* HSBC Bereavement Support Team - Opening hours are Monday to  Friday 8.30am to 6pm and Saturdays - 9am to 2pm (excluding Bank Holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your communications with us.

 

Can any documents for my claim be taken to an HSBC branch?

Yes, you can take any documents into your local HSBC branch to be sent through to us. Alternatively, information can be sent directly to the claims team in Bristol. Your claims advisor will provide you with a pre paid envelope, for sending back our requirements.

 

Will the policy continue if my Critical Illness or Income Cover claim is paid?

If your Critical Illness or Terminal Illness claim is confirmed as valid and the sum assured is paid, your policy will cease. If you hold a joint life policy, the other life assured (who has not submitted a claim) may be left without cover, so may wish to consider a new policy. It may be possible to apply for another critical illness policy after a claim, although any further cover is subject to underwriting and your illness may affect the terms we can offer you.

If you have an Income Cover policy the policy will continue during and after a claim ensuring that you continue to remain protected.

 

Are valid claims paid out tax free?

 

Pay out for Income Cover, Critical illness, Terminal Illness and Life Cover claims are free from UK income and Capital Gains Tax. However, if we pay out benefits after your death, inheritance tax may be due on the benefits paid. You can usually help avoid this by putting your Life Cover plan in trust although this may be subject to change in future. This can ensure that the benefits of any claim will be paid to whoever you  choose. It also means that the benefit will fall outside of your estate, reducing possible Inheritance Tax charges.  If you are interested in placing your policy in trust please contact our Helpdesk on 0345 745 6125* (Text phone 0845 766 0391* or +44 (0)238 029 8174* if you are calling from abroad).  If you are not sure if this is the right course of action for your own circumstances you should seek financial advice.

* Opening hours are Monday to Friday - 8am to 6pm (excluding public holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your communications with us.

 

What sort of claims do people make for Income Cover?

Claims are made for both physical and mental conditions. Some examples include:

  • Stress or depression
  • Musculoskeletal problems relating to bones and muscles
  • Accidental injuries

One of the great features of our claims service is a specialist team of medically qualified rehabilitation counsellors. Where appropriate, we will use them to help our customers overcome the problems associated with long term disability and achieve the fullest and quickest recovery possible.

 

Is there a limit to how many Income Cover claims I can make?

No, as long as you maintain the monthly premiums there is no limit on the amount of times you can claim.

 

Where do I send correspondence relating to my claim?

Our claims team will provide an addressed enveloped for returning any documents.

For general enquiries relating to claiming please call our Claims Helpdesk on 0345 745 6125*. You will be given your assessor’s name and direct line telephone number once you have registered your claim.

* Claims Helpdesk - Opening hours are Monday to Friday - 8am to 6pm (excluding public holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your communications with us.

 

How do I register a death?

You'll find expert guidance on everything from registering a death to dealing with a loved one's estate in our 'dealing with bereavement' article.

 

Can HSBC accept photocopies of the Will?

We will need to see an original will. However, if you do not wish to send the original in the post, you can take the Will into your local HSBC branch and they will photocopy it and confirm that they have seen the original.