YOUR GUIDE TO MY CHOICE - HSBC careers site

FINANCE & PROTECTION
Group Income Protection
Provider: HSBC Life (UK) Limited
• If you were unable to work due to illness or injury would you have other sources
of income or savings to support you or your family while you recovered?
• Do you have dependants who would need financial support if you were unable
to work for an extended period?
• Do you currently have long-term income protection insurance? If so, does it
provide sufficient cover?
Use the My Reward
website to select
your My Choice
benefits. it’s quick
and easy.
Group Income Protection provides a regular income if you are unable to work due to
illness or injury for more than 26 consecutive weeks and suffer a loss of earnings.
If you are not eligible to change this benefit it will not appear in your My Choice
selections. If you are eligible to change this benefit, you can choose to receive:
• 30% of benefit salary (payable for a five-year term)
• 30% of benefit salary (payable until your Contractual Retirement Age)
• 45% of benefit salary (payable for a five-year term)
• 45% of benefit salary (payable until your Contractual Retirement Age)
• 60% of benefit salary (payable for a five-year term)
• 60% of benefit salary (payable until your Contractual Retirement Age).
Benefit salary is generally your basic salary. If you currently receive cover under your
contract of employment of 75% of benefit salary less Employment and Support Allowance
(payable until your Contractual Retirement Age) you may select this option under My
Choice. This option is only available to those currently entitled to this level of cover.
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