UPDATED: Feb 25, 2020
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HSBC, through Household Life Insurance Company, recently introduced a new Simple Issue Term life insurance product. The product requires a simple seven-question application form to be completed by the applicant, either through a secure website or over the telephone with a licensed representative. If approved, the applicant can sign the necessary documents by voice or electronic signature, pay by credit card or EFT and print out the new policy within minutes.
Coverage is available for term lengths of 10, 15, 20 and 30 years in amounts ranging from $25K to $500K. The policies are also convertible to select permanent life insurance products offered by the company.
This new product through HSBC Household Life Insurance Company is the only Simple Issue Term life product currently available in amounts up to $500K.