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Loan Protection Insurance

We don't just underwrite policies; we support the promises you make to your loved ones.

Loan Protection Insurance

We all know that life can be unpredictable. Protecting our loved ones through the hardest times is something we all place at the highest priority.

With our Consumer Loan Protection, you can protect yourself and your family by ensuring that the balance of a consumer loan is covered in the event of death or incapacity.

Features

  • Coverage for loan balances up to BMD100,000. Any remaining funds are disbursed to your beneficiary or beneficiaries
  • No health risk assessment required*
  • Cancel within 30 days of the policy start date to receive a full refund
  • After the 30 day period, cancel at any time
  • Available for customers aged 18 to 65

Types of coverage

Life
Life with Accidental Death & Dismemberment (AD&D)
Life Insurance pays the sum assured in the event the policy holder dies during the term of the loan. After the outstanding amount from the loan is repaid, your beneficiary/beneficiaries will receive the remaining amount.
Life Insurance with AD&D provides added security for the policy holder and their beneficiary or beneficiaries. If the Insured dies by accidental means, the death benefit payable will be twice the sum insured. In the event that the Insured suffers a dismemberment loss, an additional benefit as outlined in the policy may be payable.

Types of coverage

Life
Life Insurance pays the sum assured in the event the policy holder dies during the term of the loan. After the outstanding amount from the loan is repaid, your beneficiary/beneficiaries will receive the remaining amount.
Life with Accidental Death & Dismemberment (AD&D)
Life Insurance with AD&D provides added security for the policy holder and their beneficiary or beneficiaries. If the Insured dies by accidental means, the death benefit payable will be twice the sum insured. In the event that the Insured suffers a dismemberment loss, an additional benefit as outlined in the policy may be payable.

How to apply

Apply by phone

Call us on +1 441 299 5959 to enquire about HSBC Insurance.

Apply in branch

Visit us in branch to speak to one of our insurance experts.

How to make a claim

You can visit www.bfm.bm to request a Claims Form. 

All claims must be submitted directly to BF&M Life Insurance Company Limited: Monday – Friday, 8am to 5pm. 

You can contact BF&M Customer Service on +1 441 295 5566, or use the After Hours 24/7 Claims Helpline on +1 441 298 0247.

FAQs

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Disclosures

Issued by HSBC Bank Bermuda Limited, of 37 Front Street, Hamilton Bermuda, which is licensed to conduct Banking and Investment Business by the Bermuda Monetary Authority.

Issued by HSBC Bank Bermuda Limited of 37 Front Street Hamilton Bermuda, which is acting solely as an insurance agent of BF&M pursuant to its insurance agent’s license issued by the Bermuda Monetary Authority and accepts no responsibility for the underwriting, administering and claims handling of insurance products. HSBC Insurance is the brand name for insurance products offered by HSBC Group members. Terms and conditions apply.

*No benefit will be paid if death is caused by, or contributed to a pre-existing medical condition for which the borrower was receiving treatment, or had been advised to receive treatment, from a health care professional, including taking medication, in the 12 months preceding the date of this Application, if my death occurs in the first 12 months following the effective date of my insurance coverage.

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