HSBC Life Singapore has launched HSBC Life Indexed Flexi Income, an indexed universal life (IUL) plan designed to provide lifetime income, wealth accumulation and protection across different life stages, supporting longevity and retirement trends in Singapore alongside inter-generational wealth transfer objectives.
HSBC Life Indexed Flexi Income offers guaranteed lifetime increasing income options that, once activated, continue up to age 120. Once activated, monthly income payouts continue across a lifetime, even when policy value reaches zero.
The plan allows policyholders to determine when income begins and retain the option to pause or resume payouts as needs evolve across different life stages.
It also supports wealth accumulation and legacy objectives through index-linked and succession planning features that can be transferred up to five future generations.
Mr Harpreet Bindra, Chief Executive Officer of HSBC Life Singapore, said, “Retirement today is no longer a single life event but a journey that unfolds in stages, often spanning decades. As lifespans lengthen and aspirations evolve, the need for flexible and sustainable income solutions has never been greater. The HSBC Life Indexed Flexi Income plan reflects this shift, providing flexible lifetime income alongside protection and accumulation, so customers can plan with greater confidence across life stages and generations.”
The plan is especially relevant as longer lifespans and changing retirement patterns are reshaping how individuals approach financial planning globally. In Singapore, the proportion of citizens aged 65 and above is projected to reach about one in four by 2030 – underscoring the growing importance of planning for income sustainability over extended lifetimes, reported Hubbis.