HSBC France

Life protection insurance

Personal insurance can cover several areas.
Whilst it may seem obvious to you to take out a life insurance policy, to gradually build up your savings and obtain financial assets in the medium or long term, it is also essential to protect against the risk of death and accidents that could occur at any moment. To protect you and your family in the event of death or Total and Irreversible Loss of Autonomy (TILA), provident solutions have been developed by insurance companies.

What is the difference between Assurance Vie and Life Protection insurance?

Life insurance is a savings operation whereby the insured entrusts its assets to the insurance company in order that the insured obtains the amounts invested in the form of capital or annuities if he or she is still alive on a pre-determined date.
In the event the insured dies before the endowment date, the savings are paid to the named beneficiary(ies).

Death insurance becomes operative in the event the insured dies, paying an amount, stipulated in the contract, to the named beneficiary(ies).
Death benefit can be combined with disability cover and accidental death cover which doubles the capital amount received in the event of accidental death.

Both types of contract provide tax advantages.
The capital amount paid under death insurance is ''outside of inheritance''.

Why take out Life Protection insurance?

Saving is a fantastic habit to have in order to prepare for the future and protect your family's needs and plans in the medium and long term.
But in the event of death or Total and Irreversible Loss of Autonomy (TILA)(1)tomorrow, your family’s financial situation could be significantly compromised.
To compensate for loss of income in the event of illness or Total and Irreversible Loss of Autonomy, it is essential to take out an insurance policy.
The payment of a capital sum could allow your family to maintain their standard of living, fund your children's education or even protect your spouse if they are not in paid employment.

75% : This is the level of income advised for a family to maintain its quality of life in the event of the death or Total and Irreversible Loss of Autonomy (TILA)(1) of one of its members(2).

3 years: This is the minimum cover period advised as following the death of a family member, it is difficult to adjust household expenses downwards and to increase income on the other hand. Maintaining their standard of living over several years should be considered.

€60,000 to 70,000(3): These are the total current living expenses
if one of your children intends to complete 5 years of higher education.

A few preconceived ideas: ''in the event of death or TILA(2), I think I am covered by… ''
Social Security: it makes payments to the beneficiaries of a deceased salaried-worker of up to €8,655(4).
Third-party liability insurance included in my comprehensive home insurance: this only covers loss or damage that you may have caused to others.
My private additional health insurance: this only covers the reimbursement of your healthcare expenses.
The cover provided by my driver's insurance under my car insurance: this only provides for the payment of funds to your loved ones in the event of death if you are the victim of an accident with your car.

* Dial +33 810 246 810 from abroad.
(1) Under the HSBC Capital Prévoyance contract, the insured is considered to be in a state of TILA (Total and Irreversible Loss of Autonomy) when he or she is recognised by a medical expert appointed by HSBC Assurance Vie as being totally and permanently incapable of engaging in any profession or work to earn a living or make a profit and needing the assistance of a third person to help them with at least 3 of 4 normal everyday tasks (washing, dressing, moving and eating).
(2) Estimate based on a family with 2 children using data from the article in the October 2010 edition of the magazine, 'Le Particulier'.
(3) Source - Fage (French Federation of General Student Associations) Press Pack: 'The Fage index for the costs of starting the new academic year''.
(4) The amount paid equals 3 months gross salary up to a ceiling of €8,655 in 2010.

Products – Life Protection Insurance

Advice - Life Protection Insurance

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