Mortgage Protection

Mortgage protection insurance

You made your dream home for yourself and your loved ones a reality. With Mortgage Protection you can protect them from the unexpected.

Mortgage Protection is designed to repay the outstanding balance of an HSBC mortgage, up to the maximum sum assured, in the event the borrower dies before the mortgage is repaid.

Features

Available for both single and joint policies.
Coverage of the mortgage balance is up to a maximum of BMD$2M in the event of the insured’s death.
Effective for the duration of your mortgage
Purchase at any time during the life of your mortgage
Cancel within 30 days of the policy start date to receive a full refund
After the 30 day period, cancel at any time

How to apply

Apply online

Complete our simple form to request a free, no-obligation insurance quote.

Request a quote online

Apply by phone

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

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Apply in branch

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

Find a branch

How to make a claim

If you're eligible for an MPI claim, visit any HSBC Bermuda branch, which will act as the intermediary agent to BF&M. BF&M will contact you if you're eligible for any payable death benefit.

FAQs

This decreasing term life insurance provides coverage on your outstanding Mortgage balance. Subject to the terms and conditions in the policy.

This insurance is available only to mortgage customers of HSBC who are ordinarily residents of Bermuda, and who are borrowers of a mortgage on a non-commercial Bermuda property between the ages of 20 and 60.

HSBC Bank Bermuda Limited is the policyholder and the sole beneficiary entitled to receive the eligible benefits due at the death of the Life Insured.

The maximum sum insured available under this Policy is $2,000,000 (aggregate). This means that any other group creditor insurance that you may have with BF&M Life Insurance Company Limited for a mortgage, line of credit or other loans will be included in the $2,000,000 maximum sum insured limit.

MPI is effective for the duration of your mortgage. If the mortgage is refinanced or paid off before the maturity date, the insurance is terminated.

More Mortgage protection insurance FAQs

Additional information

MPI Fact Sheet Download

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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.