Adaptable Simple Saving Plan
Start saving early so that you can enjoy a better life in the future.
| Covers | Protection Type | Payments | |
|---|---|---|---|
| Life insurance (Death and Permanent total disability) |
Savings | Monthly, quarterly or annually |
Here's what you get:
- A sum insured up to USD 70,000 (depending on your age) is paid by Allianz SNA in the event of natural or accidental death or permanent total disability.
- Your savings with Allianz SNA will accumulate at a minimum rate of return of 4%* and you will have the possibility to benefit from additional return on investment according to the dividend rate declared annually by Allianz SNA.
More great benefits:
- At the maturity of the plan, you can receive your savings from Allianz SNA as a single payment or in 10 annuities
- In the event of death or disability, either the sum insured or the savings cash value will be paid, whichever is higher.
Plus:
- Premiums can be increased at any plan's annual anniversary date. There is no minimum increase amount.
- Partial withdrawals from the investment account are allowed after 2 years, subject to 3% charges on the withdrawal amount.
- You can choose to protect your savings through an annual indexation rate on your premiums between 1% and 10%. Your premiums will increase annually at the rate you select to help protect your savings from the effects of inflation.
View the illustrative table below to find out which plan will suit your budget best.
Figures are based on monthly premium payment with an annual indexation rate of 3%.(figures are for illustrative purposes only).
| Age of Insured | Monthly Premium (USD) | Total Paid Premiums (USD) | Sum Insured (USD) | Amount at age 65 (USD) | |
|---|---|---|---|---|---|
| 4% minimum annual return on investment | 6% annual return on investment | ||||
| 25 | 100 | 90,696 | 70,000 | 161,451 | 246,934 |
| 30 | 150 | 108,984 | 70,000 | 181,594 | 262,034 |
| 35 | 200 | 114,324 | 50,000 | 178,050 | 242,490 |
| 40 | 250 | 109,524 | 50,000 | 154,713 | 199,302 |
| 45 | 300 | 96,816 | 30,000 | 125,882 | 153,576 |
| 50 | 350 | 78,180 | 30,000 | 91,042 | 105,335 |
You can apply for the Adaptable Simple Saving Plan if:
- You are aged between 21 to 55 years old.
- You are an existing HSBC account holder.
- You satisfactorily answer 6 simple medical questions.
Like any protection plan, this policy does not cover claims arising from certain events, such as:
- War, civil war, military acts, hostilities, mutiny, riot, revolution, rebellion.
- Suicide of the Insured Person within two years of the inception date of the policy.
- Only for PTD-Disability of the Insured Person due to venereal diseases, aids or usage of drugs.
Exclusions have been kept to a minimum. Details of full exclusions will be available on the policy terms & conditions.
What is the amount I will receive if I cancel my adaptable Simple Saving Plan during the first year of sale (having paid less than 13 premiums)?
You won't receive any amount unless you pay more than 13 premiums. After which you will receive your cash value amount.
Can I protect my savings from annual inflation?
Yes. You can choose to protect your savings through an annual indexation rate on your premiums that varies between 1-10 per cent.
Can I increase my premium?
Yes, your premium can be increased at any plan annual anniversary date.
How can I receive my savings at the maturity of the plan?
You can receive your savings from Allianz SNA as a single payment or in 10 annuities.
Benefit from a straightforward life insurance plan. With Adaptable Simple Saving Plan, if you pass away or suffer from a permanent total disability, your dependants will be paid a fixed cash sum.
