HSBC Life no longer requires GP reports for historic thoughts of suicide or self-harm

Today, HSBC Life has introduced new digital rules for mental health disclosures made during a Life and/or Critical Illness (CI) application.

Related topics:  HSBC Life,  underwriting
Tabitha Lambie | Editor, Protection Reporter
1st February 2024
HSBC Life Mental Health
"We are working hard to increase our focus on improving inclusivity and move away from historic industry practices on underwriting mental illness."
- Mitchell Barker, Head of Product & Chief Distribution Officer at HSBC Life

As part of its continued efforts to promote underwriting inclusivity, HSBC Life has introduced new digital rules for mental health disclosures made during a Life and/or Critical Illness (CI) application. This builds on its drive to trust the customer and remove the stigma surrounding mental illness.

HSBC Life recognises that customers with historic thoughts of suicide or self-harm should have the opportunity to receive standard terms at application stage, with no back-office underwriting or mandatory GP report.

According to HSBC Life’s initial tests, up to 10% more applicants disclosing a mental health condition received terms at application stage. Overall, 70% of applicants disclosing mental health issues receiving standard terms at application stage.

HSBC Life has coordinated this underwriting update to coincide with ‘Time to Talk’ Day which focuses on creating supportive communities through conversations with family, friends, or colleagues about mental health.

Mitchell Barker, Head of Product & Chief Distribution Officer at HSBC Life, said “we are working hard to increase our focus on improving inclusivity and move away from historic industry practices on underwriting mental illness.”

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