M&S Life Insurance

£100 M&S voucher to spend in store when you purchase a new life insurance policy. Minimum premium applies.

  • Instant decision with no medical assessment
  • Single or joint life cover up to £500k availableFootnote 1*
  • Lump sum payable on death or diagnosis of a terminal illness

Important Information
By clicking on the following buttons you agree that you will be transferred to HSBC Life (UK) Limited to continue with your application. M&S Life Insurance is arranged, administered and provided by HSBC Life (UK) Limited. They will provide you with further information, carry out any sale and send you any future correspondence about your policy.

Customers who purchase a new M&S Life Insurance policy, with a minimum monthly premium of £15, between 7 January and 29 April 2020 (inclusive) via the M&S Bank website will receive £100 M&S vouchers to spend in store. Full terms and conditions apply.

HSBC Life (UK) Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 88695. Registered Office: 8 Canada Square, London E14 5HQ. HSBC Life (UK) Limited's Financial Services Register number is 133485.

What is life insurance?

Life insurance is designed to help protect your loved ones financially by paying out a lump sum if you die or contract a terminal illness during the term of the policy.

HSBC Life have designed an online application to provide you with an instant decision and quote.

M&S Life Insurance meets the demands and needs of individuals looking for life insurance that pays out a lump sum benefit upon death or earlier diagnosis of terminal illness expected to lead to death within the subsequent 12 months. If this meets your current and future protection needs, you can purchase the policy instantly.

For more information see our helpful guide M&S Life Insurance explained.

Features and benefits

Up to £500k sum assured*

Lump sum payable on death or diagnosis of a terminal illness up to £500,000*.

 

Level or decreasing cover

Choose the type of cover to suit your needs, with a lump sum that remains the same or decreases over the term of your policy.

Instant decision with instant cover

With HSBC Life's online application, you can get an instant decision and cover can start straight away.

Single and joint life cover

Cover available for both you and a partner, to give your loved ones the financial support they may need if the unexpected happens.

M&S Life Insurance cover options

Cover you can rely on

M&S Life Insurance provides a choice of level or decreasing cover options so you can tailor your life insurance policy to meet your needs. Whether you decide to put your policy into Trust or not, you can relax knowing HSBC Life will deal with any claim quickly and fairly. You can compare level and decreasing cover options in the table below. Please also ensure you read the important information, including policy exclusions and limitations, below the table.

Cover benefits Level Decreasing
Cover limit Up to £500k* Up to £500k*
Lump sum pay out The amount you're covered for remains the same throughout the term The amount of cover reduces roughly in line with a repayment mortgage
Instant decision
Sole or joint
Terminal illness cover
Suicide cover Not within first 12 months Not within first 12 months
Trust forms availableFootnote 2**
Guaranteed Insurability Option

*Cover limit of £500k for age 17 – 49. Limit of £300k applies for age 50-59.

**Only available to existing M&S Life Insurance customers via online servicing. Trust forms are administered by HSBC Life (UK) Ltd

What you should know before you start your quote

HSBC Life (UK) Limited arrange, administer and provide M&S Life Insurance.

The online application is non-advised and HSBC Life cannot provide recommendations on suitable cover for your demands and needs. Please answer all questions in your application honestly and to the best of your knowledge. If you do not, it may affect your cover, premium, future claims or may result in your policy being cancelled.

M&S Life Insurance will not cover you for suicide within the first 12 months of the policy, or if you die due to a pre-existing condition you have not disclosed during your application.

Life insurance is not a savings or investment product and has no cash value unless a valid claim is made. The cost of a policy is determined by a number of factors including your age, health and lifestyle. M&S Life Insurance meets the demands and needs of individuals looking for life insurance that pays out a lump sum benefit upon death or earlier diagnosis of terminal illness expected to lead to death within the subsequent 12 months. If M&S Life Insurance meets your protection needs, you can apply and purchase the policy online. The amount you decide to be insured for, does not increase with inflation and with decreasing cover, the amount you are insured for decreases over time with the premium payable remaining the same.

For full details on limitations and exclusions, please read the M&S Life Insurance Policy Booklet and M&S Life Insurance Policy Summary.

If you require further support before you apply, please see our life insurance explained guide.

What you'll be asked for during your application:

  • The name and date of birth of all applicants
  • A valid email address
  • Your address and postcode
  • Your medical history
  • Personal details including height and weight
  • Lifestyle questions such as smoking and alcohol usage
  • UK bank details to set up your Direct Debit

Eligibility criteria

You must:

  • Be aged between 17-59 years old.
  • Be a UK resident.
  • Not be a member of the armed forces, Territorial Army or Army Reserve.
  • Not be employed in the following hazardous occupations:
    • Commercial diving
    • Offshore work (including gas and oil platforms)
    • Offshore fishing
    • Working with explosives

Before you apply

By accessing 'Get a Quote' you agree that you have read all the information in the 'What you should know before you start your quote' section above.

If you don't read this section, it may affect your cover, premium, future claims or may result in your policy being cancelled.

Important Information:

By clicking on 'Get a quote' you agree that you will be transferred to HSBC Life (UK) Limited to continue with your application. M&S Life Insurance is arranged, administered and provided by HSBC Life (UK) Limited.

They will provide you with further information, carry out any sale and send you any future correspondence about your policy.

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FAQs

How much life insurance should I purchase?

The more protection your life insurance policy offers, the higher your premiums will be. HSBC Life and M&S Bank are unable to provide advice or personalised recommendation on what cover’s right for you, however to help you understand how you should calculate this HSBC Life have created a handy guide M&S Life Insurance explained which should help you understand how life insurance works and help you consider how much cover you should have.

What are the benefits of joint cover life insurance?

If you or your loved one pass away, a joint M&S Life Insurance policy offers shared protection. M&S Life Insurance enables joint applications to be completed online. Joint applications can also be cheaper than the alternative of taking out two single policies.

However, when considering a joint policy, it is important to remember that M&S Life Insurance policies pay out on a first death basis. This means that the policy will only pay out once, on the first death out of the two policy holders, and the policy is then cancelled. This would potentially leave the second partner without life cover and facing the prospect of possibly higher premiums in order to take out a new policy due to their increased age.

Do I have to complete my application online?

M&S Life Insurance is only available online. You will not receive any advice or personalised recommendation, and you will receive a decision immediately without a further medical opinion or assessment required.

I'm a smoker, will this affect my premium?

Smokers are likely to pay a higher premium than that of a non smoker as they present a higher risk of heart or lung disease. Smokers are also more likely to claim on an insurance policy due to suffering an early death, or a terminal illness.

Is the pay-out always as a lump sum?

Yes. With M&S Life Insurance, your family or beneficiaries will always receive the claims payout as a lump sum.

When will my policy start?

M&S Life Insurance policies will start immediately upon completion of an application.

What happens if my application is declined?

You will be notified during the application process if you do not meet the eligibility criteria for M&S Life Insurance. HSBC Life cannot offer any financial or legal advice. We would recommend you seek independent advice if you are unsure about how to proceed should your application be declined.

Can I increase/decrease my cover once it's started?

M&S Life Insurance offers you the ability to increase your level of cover at no extra cost up to 6 months after an eligible life event such as childbirth, marriage or increase in residential mortgage. This is known as a Guaranteed Insurability Option, and you will not be charged a fee for requesting this. Any increase in cover will result in higher monthly premiums becoming payable. Your cover can be decreased at any time free of charge. Please read the M&S Life Insurance Policy Booklet for more information. If you wish to change your level of cover, you will need to contact HSBC Life on 0333 207 4240.

How is my information used?

HSBC Life (UK) Limited will use the information you provide in your application to assess and process the application, provide an insurance quote and underwrite and administer your policy until closure or claim. Your information, including sensitive health information, may also be shared with intermediaries and third parties involved in the administration of claims. As an introducer for M&S Life Insurance, M&S Bank will also receive personal data that you submit during this application (but not sensitive or health information) for the purposes of improving the products and services they offer. If you opt in during the application, we will also use your data to send you information about other relevant products or services we may offer. For information on how your data will be processed, retained and your rights in relation to your information, please see the M&S Life Insurance privacy notice.

M&S Life Insurance is arranged, administered and provided by HSBC Life (UK) Limited who will conduct the sale and communicate with you after your policy start date. HSBC Life (UK) Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 88695. Registered Office: 8 Canada Square, London E14 5HQ.

£100 voucher off terms and conditions

Customers who purchase a new M&S Life Insurance policy between 7 January and 29 April 2020 (inclusive) via the M&S Bank website will receive £100 M&S vouchers to spend in store. This offer is not available to customers amending an existing M&S Life Insurance policy. To be eligible for the £100 M&S vouchers, customers must: (i) be covered by an M&S Life Insurance policy with a minimum monthly premium of £15; (ii) have held the policy for a minimum of 180 days (calculated from the first payment date); and (iii) not have missed any premium payments. M&S vouchers will be sent to the primary policyholder within 30 days of having held the policy for a minimum of 180 days (calculated from the first payment date). M&S vouchers will not be sent if (i) you, the insurer, M&S Bank or our insurance partner cancel or terminate your policy within the minimum 180 day period you must hold the policy for or (ii) there are any outstanding premium payments due. M&S vouchers will not be issued to customers for any third or subsequent M&S Life Insurance policies.

M&S vouchers are available to new customers who purchase their policy via the M&S Bank website and are not available to customers buying from a comparison, affiliate or cashback website. M&S vouchers are limited to one per policy and must be used by the voucher expiry date. M&S vouchers are subject to Marks and Spencer plc terms and conditions of use. Vouchers can only be used in store and replacements will not be issued for lost or damaged vouchers. M&S vouchers are available to UK customers only; they are not available to customers from the Isle of Man and Channel Islands. No cash or gift card alternative available.

We reserve the right to withdraw or replace this offer with suitable alternatives at any time and without notice. This offer is being administered and managed on behalf of M&S Bank (which is a trading name of Marks & Spencer Financial Services plc) for M&S Life Insurance by The Marketing Lounge Partnership Fulfilment Services, The Cow Shed, Walnut Tree Farm, Lower Stretton, Cheshire WA4 4PG.