Last Updated on July 6, 2023 by Tree of Wealth

Read our Best Whole Life Plan Review here!

HSBC Life’s new Life Treasure II is one of the more competitive Whole Life plans in the market right now. It is now offering one of the highest multiplier in the market (up to 5x), with one of the longest multiplier duration (Up to age 80) as well as one of the most number of Critical Illnesses (CI). On top of that, there is additional payout for Critical Illnesses (50%!) along with more lenient payout for Total Permanent Disability (TPD), which is pretty impressive.

Let’s look into the plan and break it down.

Features For HSBC Life – Life Treasure II

Premium term

Have the choice to choose from 10, 15, 20, 25 and 30 with monthly, quarterly, semi-annual or annual payment mode.

Minimum Premium

Premium starts at $25,000, allowing more flexible budget planning, especially when you pair it with the high multiplier available.

Multiplier : (one of the highest and longest)

• Option to choose multiplier from x1, x2, x3, x4 to x5 times of the base sum assured (one of the highest in the market)
• Choice of multiplier till age 65, 70 and even 80 years old (one of the longest in the market)

No Medical Underwriting Upgrades (GIO)

Upon reaching certain life milestone event, there is an option to boost your coverage with no medical check-up (GIO) required.

Life stage events include when the Life Assured gone through the following:

• Change in marital status – getting married/ divorce inclusive
• New born child/ Legal adoption included
• New purchase of property locally in Singapore
• Official first full-time employment (after graduating)
• Child of Life Assured’s first day of education in Primary, Secondary or University schools
• Death of Life Assured’s Spouse

Available GIO Policies:

• HSBC Life Life Treasure (II)
• HSBC Life Term Protector (Term insurance)
• HSBC Life Flexi Protector (ILP)

One thing to highlight is that additionally, if the Life Assured’s existing HSBC Life Life Treasure (II) has an eligible CI rider, you have the choice to include the CI riders in the new GIO policy that doesn’t require any medical underwriting.

Advanced Disability Payout

Perhaps one of the best features for Total Permanent Disability (TPD) payout is that while Activities of Daily Living (ADLs) are traditionally unable to perform 3 out of 6, HSBC Life has lowered it to 2 out of 6 ADLs for the new AXA Life Treasure (II), albeit this coverage is applicable for age 16 to 70.

Accidental Death Coverage – 10x (Rider)

In the unfortunate event of unfortunate death, up to 10 times of the main plan’s sum assured will be paid out. What this means is that if there is a multiplier attached to the basic sum assured upon death, “an additional amount equivalent to the Death Benefit will be payable upon accidental death” (source HSBC Life). And for 5 times multiplier, it will be equivalent to 10 times of payout in the event of Accidental Death.

If the accidental death is after the multiplier’s age (age 80 for eg), the “sum assured plus bonuses is paid out upon Death, an additional amount equivalent to the basic sum assured will be payable” (source HSBC Life).

Critical Illnesses (CIs) Covered

A Total of 162 CIs, including:

• 41 Early Stage Critical Illnesses
• 37 Intermediate Stage Critical Illnesses
• 56 Advanced Stage Critical Illnesses (more than LIA’s 37 Advance Stage CIs)
• 14 Special Conditions (Additional Payouts)
• 14 Juvenile Conditions (Additional Payouts) (below 18 years old)

Top Common Critical Illness Benefit (Under Early Critical Illness Benefit (II) rider)

A good feature of this whole life plan, HSBC Life will pay an additional 50% of the original CI Sum Assured for these top 5 common advance stage CIs:

• Major Cancer
• Heart Attack
• Stroke
• Coronary Artery By-pass Surgery
• End Stage Kidney Failure

The “Original CI Sum Assured” means the Sum Assured of the Early CI Benefit II rider at the time of inception. This will not change even if there were claims made previously.

Premium At A Glance For Male & Female

Premium Term	25 years
Death & Early CI Coverage	Whole Life
TPD Coverage	Whole Life
Basic Sum Assured	$125,000.00
Multiplier Up Till	Age 70
Multiplier	x2
Death/TPD/Terminal Illness (Before Multiplier Ends)	$250,000.00
Early to Advance Critical Illness (Before Multiplier Ends)	$250,000.00
Death/TPD/Terminal Illness (After Age 70)	$125, 000 + Yield and Bonus
Early to Advance Critical Illness (After Age 70)	$125, 000 + Yield and Bonus
Age	Male, 35yo	Female, 35yo	Male, 30yo	Female, 30yo	Male, 25yo	Female, 25yo
HSBC Life Life Treasure (II)	3,052.50	2,803.75	2,672.50	2,448.75	2,343.75	2,133.75
Total Permanent Disability	237.50	140.00	190.00	117.50	162.50	100.00
Early Critical Illness Advance Cover	2,010.00	2,198.75	1,631.25	1,826.25	1,383.75	1,537.50
Annual Premium	5,300.00	5,142.50	4,493.75	4,392.50	3,325.00	3,771.25

HOW IT WORKS

Premium Comparison – $100k x 2 Till Age 80

Multiplier	X2 (till age 80)
Death & TPD Coverage	$100,000.00
Early CI Coverage	$50,000.00
CI Coverage	$50,000.00
Premium Term	Male				Female
Age	1	20	35	50	1	20	35	50
10 years	$2,757.50	$5,095.00	$8,039.00	$12,674.50	$2,757.50	$4,805.50	$7,559.40	$11,623.50
20 years	$1,657.50	$3,056.50	$4,859.00	$8,095.50	$1,657.50	$2,887.50	$4,611.00	$7,339.00
25 years	$1,443.00	$2,657.00	$4,272.50	$7,238.50	$1,443.00	$2,507.50	$4,061.50	$6,641.00
30 years	$1,274.50	$2,343.00	$3,832.50	$6,732.00	$1,274.50	$2,215.50	$3,653.50	$6,175.00

Premium Comparison – $100k x 4 Till Age 80

Multiplier	X4 (till age 80)
Death & TPD Coverage	$100,000.00
Early CI Coverage	$50,000.00
CI Coverage	$50,000.00
Premium Term	Male				Female
Age	1	20	35	50	1	20	35	50
10 years	$4,528.50	$8,146.00	$12,736.00	$20,130.50	$4,245.40	$7,530.50	$11,608.50	$17,728.50
20 years	$2,738.50	$4,716.50	$7,466.00	$12,714.50	$2,584.50	$4,373.50	$6,923.00	$11,196.00
25 years	$2,376.00	$4,066.00	$6,517.50	$11,433.50	$2,237.00	$3,748.50	$6,059.50	$10,187.00
30 years	$2,110.00	$3,573.00	$5,890.50	$10,776.00	$1,986.50	$3,320.50	$5,490.40	$9,656.00

Premium Comparison – $100k x 2 Till Age 70

Multiplier	X2 (till age 70)
Death & TPD Coverage	$100,000.00
Early CI Coverage	$50,000.00
CI Coverage	$50,000.00
Premium Term	Male				Female
Age	1	20	35	50	1	20	35	50
10 years	$2,628.50	$4,736.00	$7,341.00	$11,245.50	$2,628.50	$4,514.50	$7,005.50	$10,475.50
20 years	$1,583.50	$2,857.50	$4,470.00	$7,209.50	$1,583.50	$2,724.50	$4,294.00	$6,687.00
25 years	$1,379.00	$2,488.00	$3,936.50	–	$1,379.00	$2,370.50	$3,788.50	–
30 years	$1,215.50	$2,197.00	$3,524.50	–	$1,215.50	$2,096.50	$3,398.50	–

Premium Comparison – $100k x 4 Till Age 70

Multiplier	X4 (till age 70)
Death & TPD Coverage	$100,000.00
Early CI Coverage	$50,000.00
CI Coverage	$50,000.00
Premium Term	Male				Female
Age	1	20	35	50	1	20	35	50
10 years	$3,721.50	$6,822.00	$10,436.00	$15,726.50	$3,721.50	$6,458.50	$9,790.50	$14,202.50
20 years	$2,264.50	$3,994.50	$6,186.00	$9,990.50	$2,264.50	$3,775.50	$5,885.00	$9,006.00
25 years	$1,965.00	$3,454.00	$5,415.50	–	$1,965.00	$3,252.50	$5,163.50	–
30 years	$1,736.50	$3,039.00	$4,888.50	–	$1,736.50	$2,876.50	$4,664.50	–

 What We Like About the Plan

• Wide range of premium term – From 10, 15, 20, 25 and 30 years with monthly, quarterly, semi-annual or annual payment mode
• Option to choose without multiplier. Some people may prefer to have more cash value upon retirement and would not like any multipliers.
• GIO Upgrades allow for new term, whole life plan (and ilp) to be included, together with the accompanying CI riders, all without medical underwriting
• Advanced Disability Payout allows for 2/6 ADLs instead of 3/6, lowering the claim criteria
• Accidental Death Coverage rider covers up to 10 times if death is caused by accidents
• Multiplier is one of the highest (up to 5 times) as well as longest (till age 80) in the industry
• Coverage of TPD is until age 80, longer than most insurer
• Early CI rider covers maximum of $350, 000, higher than most insurer’s $250, 000.
• Premium starts at $25,000, allowing more flexible budget planning
• A Total of 162 Critical Illnesses covered (one of the highest in the industry)
• Top Common Critical Illness Benefit – additional 50% of the original CI Sum Assured and will not change even if there were claims made previously

What We Don’t Like About the Plan

• No option to convert cash value at retirement age for payouts
• While GIO option is good, no option to increase the sum assured but must purchase a new plan instead
• TPD coverage is until age 80

HSBC Life Life Treasure II is for you if you are looking for:

• High amount of death, Terminal Illness and Total Permanent Disability Protection Sum assured at a competitive premium
• The choice of having flexible riders to further enhance your coverage, making it really comprehensive
• High early to intermediate to advance stage of Critical Illness with competitive premiums
• Higher Early Critical Illness, Critical Illness and Total Permanent Disability coverage in an Insurance Policy
• Cash value that accumulates throughout the plan
• A limited premium paying term and get coverage of death, TPD as well as early stage CI for life

This Plan Is Not Suitable If You Want:

• A wealth growth instrument for retirement and savings purposes
• Frequent withdrawals and access of cash from the insurance coverage plan
• Short breakeven years and have high cash value early into the plan

HSBC Life Life Treasure II Review Conclusion

As with all whole life insurance plans, the suitability of this plan for you will largely depend on your needs and expectations. There are many whole life insurance plans in the market with many strong Insurers. Which one suits you the most?

To find the most suitable coverage, simply fill in the form below and our friendly licensed FA advisor will get in touch with you. Based on your needs, a custom made solution will be adjusted only addressing your concerns.

No obligations, no hidden fees. All advice are of no charges.