Along with HSBC Finance products, we offer a simple and affordable way to protect our customers and their families: Optional Credit Insurance through Household Life Insurance Company.*
Credit Life Insurance
With both single and joint converage available, Credit Life Insurance:
- Protects the borrower and spouse (if joint coverage) in the event of either borrower's death
- Will pay off your entire account balance as outlined in your Insurance Certificate
Credit Disability Insurance
If you are unable to work due to a disability or injury:
- The minimum monthly payments on your loan will be made as outlined in your Insurance Certificate
- These payments will cease when the loan is paid off, you return to work, reach the maximum age limit, or reach the maximum number of payments (24 months)
Credit Disability Requiring Hospitalization Insurance
Eligible on Unsecured Personal Line of Credit only
If you are hospitalized for at least 24 hours due to accidental bodily injury or sickness:
- Your minimum monthly payment will be made to a maximum of $500 per month
- If hospitalization continues for more than 30 days, the Insurance will pay your outstanding balance as outlined in your Insurance Certificate
Credit Involuntary Unemployment Insurance
Unsecured Personal Line of Credit:
If you are laid off, go on strike or are involved in a labour dispute:
- Your minimum monthly payments will be made to a maximum of $500 per month and 6 monthly payments in any calendar year
- Payments will begin on the 31st day of unemployment until you are employed again or the maximum number of payments has been reached as outlined in your Insurance Certificate
Related Links
HOUSEHOLD LIFE INSURANCE COMPANY
Privacy Statement for Customers with Credit Insurance
This paragraph applies to customers who have selected credit insurance provided by Household Life Insurance Company ("HLIC") or Assurant Solutions ("Assurant")3. Like HSBC, HLIC and Assurant respect and protect your privacy. You may review Assurant Solutions' Privacy Policy at www.assurantsolutions.com/canada.
To administer the credit insurance you requested, HLIC collects demographic information (like your name and address) and account information (like information related to your account with HSBC). This information comes either directly from you, for instance, from your application, or it may come from HSBC, such as information about your account. It may also come from third parties when you consent to such sharing. HLIC will use this information to establish an account and serve you as a customer as well as to determine whether any products or services they offer are suitable for you and to offer them to you. HLIC takes great care to protect the privacy of this information, for example, the only employees or companies who access such information are those who need it to provide services in connection with your credit insurance. Moreover, in compliance with applicable standards, HLIC maintains physical, electronic and procedural safeguards to protect against unauthorized use or disclosure of that information. HLIC does not disclose information about you to unaffiliated third parties, except with your consent or as permitted by law. If you have a question or concern about the way in which personal information is collected, used or disclosed by HLIC, please contact us by calling 1-800-323-1317 or by writing to us at the following address:
HSBC Insurance
90 Christiana Road
New Castle, DE 19720
USA
You can find further information on Privacy by reviewing the Privacy notice.
*Group Creditor Life and Disability Insurance is underwritten by Household Life Insurance Company. Involuntary Unemployment and Disability Requiring Hospitalization Insurance is underwritten by American Bankers Insurance Company of Florida, an Assurant Solutions™ company. Not all products are available in all provinces or on all loan programs. Please visit your local HSBC Finance office to learn about eligibility and availability in your province. Insurance products offered are optional and are not a requirement for loan approval. All benefits are subject to exclusions and limitations, see your certificate for more details.
3 Assurant Solutions® companies include American Bankers Insurance Company of Florida, American Bankers Life Assurance Company of Florida, Assurant Services Canada Inc. and their subsidiaries and affiliates. ®Assurant Solutions is a Registered Trademark of Assurant Inc.
