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HSBC

Wealth Accumulation Plan (WAP)

Wealth Accumulation Plan (WAP)
Plan Flexible payments Spouse cover

Zurich Flexible Investment Plan wrapped with insurance

Yes Yes

Here's what you get:

  • Zurich’s flexible Investment plan
  • Life insurance wrapped with your investment portfolio
  • Flexible payment options of yearly, half-yearly, quarterly, monthly or a single premium

More benefits:

  • Option for single life, joint life second death, multiple life last death
  • You can make single or increase your regular contributions to your plan at any time
  • Available in USD, AED, Sterling, Euro, QAR, Bahraini Dinars
  • Extensive and comprehensive range of Investment choices

Here's what you get:

  • A world wide coverage provided by Zurich which covers death
  • An Wealth Accumulation Plan with flexible contributions
  • Choice of wide range of funds to invest

You can apply for Wealth Accumulation Plan:

  • If you're over 18 years old with no maximum age
  • As an individual, joint, trustees or a company
  • Holding a valid Qatar resident visa
  • If you hold an HSBC account

WAP Exclusions

  • Restrictions to certain nationalities
  • If the life assured commits suicide (whether sane or insane at the time) within 60 months of the Policy commencement date, the amount payable under the Policy will be limited to the Policy Value at the date of death
  • If a benefit is payable as a direct or indirect consequence of any act of the Life Insured which is a deliberate and material violation of any law

Exclusions have been kept to a minimum. Details of full exclusions will be available on the Zurich policy terms and conditions.

Is the WAP right for me?

It may be right if you:

  • are looking for a flexible way of investing
  • want access to a wide range of funds
  • understand and accept the risks of this type of investment
  • are able to hold the investment for medium to longer term

Who can apply?

    • You can own the plan yourself or jointly with someone else
  • Anyone age 18 or over can apply for an WAP. There is no maximum age for plan holders
  • You can insure the life of anyone aged two or over – there is no maximum age
  • You may insure the lives of up to five people. You do not have to be one of the lives insured
  • Have a valid residence visa in Qatar

The plan is issued on either a single life, joint life second death or multiple life last death basis.

On the death of the last surviving life insured Zurich will pay out 101% of the plan’s surrender value on the day Zurich receives satisfactory notification of death to your beneficiaries

  • You can add additional single contributions at any time
  • If making regular contributions, you can increase or decrease your contributions per month, subject to the minimum regular contribution
  • If you start your plan with a regular and a single contribution

Can I take money out?

Yes, you can choose to take money out regularly or by taking one-off withdrawals.

How will I know how my WAP is doing?

Zurich will send you a statement twice a year to show the current value of your plan.
You may request up to 12 free valuation statements a year.
You can keep up-to-date with your plan details online through Zurich International online (ZIO) once your plan is issued. To register, please visit www.zurichinternational.com and click on your region (if needed), then click on the `ZIO’ tab.

What you might get back?

What you get back depends on the plan value less any reduction for cashing in early. There is no guaranteed amount.

The plan value depends on:

  • how well your investment performs
  • how much you invest
  • how long your money is invested
  • how much money you take out
  • charges
  • General Investment risks

Note: For full details of risks involved, please refer to the Zurich product brochure or speak to your adviser

What happens to my WAP if I die?

  • On the death of the last surviving life insured Zurich will pay out 101% of the plan’s cash-in value on the day Zurich receives satisfactory notification of death to your beneficiaries
  • If the plan covers more than one life, Zurich will pay out when they receive satisfactory notification of the deaths of all the lives insured
  • If the plan is in trust, Zurich will pay out the cash-in value to the trustees or according to their instructions

What are the risks involved?

  • The value of your plan can go down and you may get back less than you invested depending on investment performance
  • You may get back less than the amount shown on the illustration if:
    • investment growth is lower than illustrated
    • decrease your contribution
    • you take money out of your plan
  • The level of risk and potential investment performance depend on the funds chosen
  • The value of your plan will be subject to currency fluctuations if you are paying contributions in one currency but selecting to invest in funds based in another currency. Please be mindful that movements between two currencies can be significant
  • If you cash in your plan before the end of the term following any contribution, Zurich will apply a cash-in charge (sometimes referred to as a surrender penalty). This will reduce the amount you get back
  • Your returns may be affected by changes in currency exchange rates

Get an Wealth Accumulation Plan (WAP) allows you to make both regular and single contributions, offers the potential for investment growth, and is adaptable enough to change as your circumstances change.

Ready to apply? Have us call you

Zurich’s Wealth Accumulation Plan is provided and underwritten by Zurich International Life.

This is only general information and does not constitute an offer to buy or sell an insurance product or service. It is also not intended to provide any insurance or financial advice. A person interested in this product should read and consider the Product Brochures, Product Summary and Benefit illustration in deciding whether to buy this product. You can ask for these documents from any of our Branches.

Buying a life insurance plan is a long-term commitment. An early termination of the plan usually incurs high cost and the surrender value payable (if applicable) may be less than the total premiums paid. The terms & conditions applicable to these products will be of Zurich International Life and the applicant or the plan holder will not hold HSBC responsible for processing, claims or otherwise.

For the avoidance of doubt, HSBC does not provide tax advice and you should seek your own external tax advice in relation to this product.

**Terms and conditions apply.

CRN 121107 valid till 04 May 13.

Wealth Accumulation Plan (WAP)

Overview

Plan
Zurich Flexible Investment Plan wrapped with insurance

Overdraft
Yes

Flexible payments
Free

Spouse cover
Yes

 

Here's what you get:

  • Zurich’s flexible Investment plan
  • Life insurance wrapped with your investment portfolio
  • Flexible payment options of yearly, half-yearly, quarterly, monthly or a single premium

More benefits:

  • Option for single life, joint life second death, multiple life last death
  • You can make single or increase your regular contributions to your plan at any time
  • Available in USD, AED, Sterling, Euro, QAR, Bahraini Dinars
  • Extensive and comprehensive range of Investment choices

Coverage

Here's what you get:

  • A world wide coverage provided by Zurich which covers death
  • An Wealth Accumulation Plan with flexible contributions
  • Choice of wide range of funds to invest

Eligibility

You can apply for Wealth Accumulation Plan:

  • If you're over 18 years old with no maximum age
  • As an individual, joint, trustees or a company
  • Holding a valid Qatar resident visa
  • If you hold an HSBC account

Exclusions

WAP Exclusions

  • Restrictions to certain nationalities
  • If the life assured commits suicide (whether sane or insane at the time) within 60 months of the Policy commencement date, the amount payable under the Policy will be limited to the Policy Value at the date of death
  • If a benefit is payable as a direct or indirect consequence of any act of the Life Insured which is a deliberate and material violation of any law

Exclusions have been kept to a minimum. Details of full exclusions will be available on the Zurich policy terms and conditions.

FAQs

Is the WAP right for me?

It may be right if you:

  • are looking for a flexible way of investing
  • want access to a wide range of funds
  • understand and accept the risks of this type of investment
  • are able to hold the investment for medium to longer term

Who can apply?

    • You can own the plan yourself or jointly with someone else
  • Anyone age 18 or over can apply for an WAP. There is no maximum age for plan holders
  • You can insure the life of anyone aged two or over – there is no maximum age
  • You may insure the lives of up to five people. You do not have to be one of the lives insured
  • Have a valid residence visa in Qatar

The plan is issued on either a single life, joint life second death or multiple life last death basis.

On the death of the last surviving life insured Zurich will pay out 101% of the plan’s surrender value on the day Zurich receives satisfactory notification of death to your beneficiaries

  • You can add additional single contributions at any time
  • If making regular contributions, you can increase or decrease your contributions per month, subject to the minimum regular contribution
  • If you start your plan with a regular and a single contribution

Can I take money out?

Yes, you can choose to take money out regularly or by taking one-off withdrawals.

How will I know how my WAP is doing?

Zurich will send you a statement twice a year to show the current value of your plan.
You may request up to 12 free valuation statements a year.
You can keep up-to-date with your plan details online through Zurich International online (ZIO) once your plan is issued. To register, please visit www.zurichinternational.com and click on your region (if needed), then click on the `ZIO’ tab.

What you might get back?

What you get back depends on the plan value less any reduction for cashing in early. There is no guaranteed amount.

The plan value depends on:

  • how well your investment performs
  • how much you invest
  • how long your money is invested
  • how much money you take out
  • charges
  • General Investment risks

Note: For full details of risks involved, please refer to the Zurich product brochure or speak to your adviser

What happens to my WAP if I die?

  • On the death of the last surviving life insured Zurich will pay out 101% of the plan’s cash-in value on the day Zurich receives satisfactory notification of death to your beneficiaries
  • If the plan covers more than one life, Zurich will pay out when they receive satisfactory notification of the deaths of all the lives insured
  • If the plan is in trust, Zurich will pay out the cash-in value to the trustees or according to their instructions

What are the risks involved?

  • The value of your plan can go down and you may get back less than you invested depending on investment performance
  • You may get back less than the amount shown on the illustration if:
    • investment growth is lower than illustrated
    • decrease your contribution
    • you take money out of your plan
  • The level of risk and potential investment performance depend on the funds chosen
  • The value of your plan will be subject to currency fluctuations if you are paying contributions in one currency but selecting to invest in funds based in another currency. Please be mindful that movements between two currencies can be significant
  • If you cash in your plan before the end of the term following any contribution, Zurich will apply a cash-in charge (sometimes referred to as a surrender penalty). This will reduce the amount you get back
  • Your returns may be affected by changes in currency exchange rates

 

Get an Wealth Accumulation Plan (WAP) allows you to make both regular and single contributions, offers the potential for investment growth, and is adaptable enough to change as your circumstances change.

Zurich’s Wealth Accumulation Plan is provided and underwritten by Zurich International Life.

This is only general information and does not constitute an offer to buy or sell an insurance product or service. It is also not intended to provide any insurance or financial advice. A person interested in this product should read and consider the Product Brochures, Product Summary and Benefit illustration in deciding whether to buy this product. You can ask for these documents from any of our Branches.

Buying a life insurance plan is a long-term commitment. An early termination of the plan usually incurs high cost and the surrender value payable (if applicable) may be less than the total premiums paid. The terms & conditions applicable to these products will be of Zurich International Life and the applicant or the plan holder will not hold HSBC responsible for processing, claims or otherwise.

For the avoidance of doubt, HSBC does not provide tax advice and you should seek your own external tax advice in relation to this product.

**Terms and conditions apply.

Ready to apply?

Start the process with just a phone call
 

Have us call you



 

Or call

+974 4442 HSBC