ENHANCEMENTS FOCUSED ON EARLIER PAYOUTS AND ON MORE COMMON CONDITIONS AND SITUATIONS SUCH AS PREGNANCY COMPLICATIONS OR PARKINSONS ADD REAL VALUE FOR CUSTOMERS. OUR CRITICAL THINKING 2024 REPORT HIGHLIGHTED THAT CLAIMANTS ARE MORE LIKELY TO USE CLAIM MONEY FOR ACCESSING PRIVATE TREATMENT, SO THESE IMPROVEMENTS NICELY DOVETAIL WITH THIS BEHAVIOURAL PATTERN.
Alan Lakey, Founder of CIExpert
private medical care or adaptations to make their everyday life easier. Knowing this can be an incentive for some people to take out critical illness cover.
A claims rate to be proud of
In 2024 4, HSBC Life paid out 94.44 % of Critical Illness claims. Our average turnaround time for Critical Illness claims was 41 days, reducing to 31 days in Q1 2025 5 due to improved methods of medical data collection. We’ re proud of our claims rate and this new enhancement means people could get the funds they need to help them navigate difficult times much earlier in the process.
Need-to-knows for advisers
• Available for new business only.
Waiting until after surgery to receive a critical illness payout could mean going weeks or months without much-needed funds, adding stress at an already fraught time.
Putting clients in control
Almost half( 45 %) of advisers say that receiving a payout immediately after being added to the NHS waiting list would make their clients more likely to buy critical illness cover, according to CIExpert data 3. Receiving valuable funds this early in their treatment journey gives customers priceless flexibility. They could take time off work without worrying about how they’ ll cover costs and focus on their health and supporting their loved ones. Having access to their payout prior to treatment also gives people more choices when it comes to their care. The funds could be used to pay for
1
NHS England: NHS publishes strike impact data following a record June for treatments 14 Aug 2025.
2
BMA NHS backlog data analysis to June 2025.
3
Critical Thinking Report 2024, CIExpert.
• If the client has standalone CI cover, they would need to survive at least 10 days from either the date of diagnosis of one of the specified critical illnesses or the date of one of the specified surgical procedures or, where applicable, the date they are placed on the NHS waiting list for surgery.
• Enhancement for benign brain tumour and less advanced breast cancer available across Core and Plus products.
• Focus is on giving your clients greater choice.
For full terms and conditions, including a list of exclusions please refer to the policy booklet.
4
From 1 January to 31 December 2024, HSBC Life( UK) paid out claims, accumulated across all its Life and Critical Illness products and distribution channels.
5
From 1 January to 31 March 2025, HSBC Life( UK) paid out claims, accumulated across all its Life and Critical Illness products and distribution channels.
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