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Income Cover

Offering you the financial support you need if you're unable to work due to an accident or injury
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Life insurance

HSBC Income Cover

Our income cover pays a monthly tax-free benefit to help replace your loss of earnings if you're unable to work due to an accident or injury.
  • Monthly benefit paid directly to your bank account
  • Choose between benefits that pay while you are unable to work for up to 5 years, or continue to your 68th birthday
  • Dedicated claims assessor is on hand to offer support
  • Premiums for any HSBC Life and Protection products you hold are waived while you receive Income Cover benefits

Start an application

Income Cover is underwritten by HSBC Life (UK) Ltd. Get a personalised quotation and apply today.

 

 

Are you a Premier customer?

Our dedicated Premier Managers can also discuss your protection only needs with you.

What is Income Cover?

At HSBC, we offer you the financial support you need if you're unable to work due to an accident or injury. Our Income Cover pays a monthly tax-free benefit to help replace your loss of earnings.

In addition to a monthly benefit, the policy can provide specialist rehabilitation services, tailored to you, which can help you get back on your feet and back in to work.

Our rehabilitation providers specialise in helping customers affected by our most common causes of claim; psychological issues such as stress, anxiety and depression, musculoskeletal problems, such as back pain and cancer. This means you can get practical help and the treatment you need without delay.

Income Cover can be taken over a set term or until you are 59.

If you're not sure which products are right for you, you can use our financial planning tools to help you decide. Alternatively you can contact your local branch and a member of our team will be happy to discuss the options available with you.

 

What's covered?

What's covered?
  Income Cover
Income Cover 5 year
Benefits of cover
A monthly income payable to the end of a set term or to age 68 (whichever is earlier)
A monthly income payable for up to 5 years
Basis of Cover
Monthly benefit
Monthly benefit
Min/Max benefit level
Minimum - £50 per month
Maximum - £4,167 per month (max income replacement ratio is 50 per cent gross taxable income)
Minimum - £50 per month
Maximum - £4,167 per month (max income replacement ratio is 50 per cent gross taxable income)
Max age at entry
Minimum age - 17 years
Maximum age - 59 years
Minimum age - 17 years
Maximum age - 59 years
Max age at expiry
68 years
68 years
Min/Max term
Minimum term - 5 years
Maximum term - 50 years
Minimum term - 5 years
Maximum term - 50 years
Minimum premium
£1 per month
£1 per month
First payment made
The later of 13 weeks, or when your income reduces to below your monthly benefit.
The later of 13 weeks, or when your income reduces to below your monthly benefit.

Waiver of premium

 

During the claim period, the premiums on all the benefits under Life Insurance for the same life insured will be waived.

During the claim period, the premiums on all the benefits under Life Insurance for the same life insured will be waived.

 

 

 

What's not covered?

As with all insurance policies, terms and conditions, exclusions and limitations will apply.

  • We will not cover you for any pre existing conditions in the first 12 months of the policy.
  • Please see the policy summary and policy document (PDF) for full details of all Significant and Unusual Limitations and Exclusions.

 

Existing Policyholder?

If you have a question about a HSBC Life policy, you can view our support pages or you can call us on 0345 745 6125.*

 

*Lines are open 8am to 6pm, Monday to Friday (excluding bank holidays).

Calls may be monitored and/or recorded

How to apply

Apply in branch

Unfortunately, you can't apply for Income Cover over the phone at the moment.

To talk to someone about our Life Insurance range: Life Cover, Critical Illness Cover and Income Cover, you can contact your local branch. A member of our team will be happy to discuss the options available and help you to build a package that suits your specific needs.

To book a branch appointment please call:

0800 032 4710*

Please note, we won't be able to provide any advice over the phone or online.

 

*Lines are open 8am to 9pm Monday to Friday, 9:30am to 7pm Saturday (except Christmas Day, Boxing Day and New Year's Day). Calls may be monitored and/or recorded.

Things to know before you apply

  • Policy benefits are currently paid tax-free.
  • Life Insurance policies have no cash-in value.

 

Before applying, please take the time to read the following. You may also want to save some of these documents for future reference.

You might also be interested in

Provides a lump sum payable on death or diagnosis of a terminal illness, as well as accidental death benefit.

Provides a lump sum if you are diagnosed with a specified critical illness or medical condition.

 

If you need to make a claim, contact our helpline for assistance as soon as you can.

 

Listening to what you have to say about our services matters to us.