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Life insurance simple wealth management product: HSBC

HSBC New Zealand is offering its high net worth Premier customers the first three months of their life insurance premiums free when signing up for a policy with the bank.

Tuesday, July 26th 2011, 7:29AM

The offer is available to new and existing HSBC Premier customers that do not have a life insurance policy with the bank. Existing HSBC Premier customers who increase their cover will be eligible for a three months rebate for the amount of any premium increase.

HSBC New Zealand head of wealth, Glen Tonks, said the bank's research had found a need for long term savings and wealth protection and that many people fail to make the link between insurance and wealth management.

"What was very apparent was the awareness of personal protection insurance was quite low."

"When we talk about wealth management, most people think about investments, it's very much insurance as well," he said.

"Simple life insurance is really the entry level wealth management point."

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