"HSBC Life UK takes pride in supporting our policyholders and showing them the real value of protection."
- Jen Carhart, Head of Underwriting & Claims at HBSC Life UK
HSBC Life UK paid 97.53% of Life Insurance and 94.44% of Critical Illness Cover (CIC) claims in 2024. The average time spent to settle life claims was below the industry average, with two-thirds (67%) of claimants receiving a decision within twenty-four hours. For CIC claims, the average turnaround time was 41 days.
The provider’s data revealed cancer as the most common cause of Life Insurance claims (40%), followed by heart disease (12%), and respiratory conditions (11%). Likewise, cancer was the most common cause of CIC claims (65%), followed by heart attacks (12%), and strokes (6%). £15.5mn was paid toward CIC claims following a cancer diagnosis, and 50% of cancer-related claims submitted by women were for breast cancer.
“HSBC Life UK takes pride in supporting our policyholders and showing them the real value of protection. We’re extremely passionate about supporting our most vulnerable customers during times of need. We’re proud to be a member of the Protection Distributors Group (PDG) Charter, focused on providing the highest possible standards of customer service during the claims process,” said Jen Carhart, Head of Underwriting & Claims at HBSC Life UK.
