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Family Shield
HSBC introduces Family Shield, a Health and Life Insurance product exclusively designed for HSBC Pakistan customers and underwritten by MetLife Alico Pakistan.
Features
With Family Shield you are no longer alone in times of financial hardship. Whether this is your first layer of protection or supplemental coverage, Family Shield will provide you and your family cash reimbursement for hospitalization due to sickness or accident and also give a lump sum cash amount to your beneficiaries in the event of your or your spouse's natural or accidental death or diagnosis of 1 of 6 specified dread diseases.
Life is unpredictable: Family shield can reduce some of life's uncertainties and help secure your tomorrow by protecting you and your family today.
Family Shield provides you a wide range of benefits and features. This affordable health and life insurance will protect you and your loved ones whether at home or abroad.
Uniquely designed for the family, this product provides three definite benefits as a result of different eventualities:
- Payment of a lump sum cash amount incase of death due to sickness or accident (Available to customer and his/her spouse .Up to 4 children are covered for accidental death).
- Payment of a lump sum cash amount for each day spent in hospital as in-patient due to sickness or accidents (Available to customer, his/her spouse and up to 4 children); and
- Payment of a lump sum cash amount upon diagnosis of any of the specified 6 dread diseases namely Cancer, Stroke, Heart Attack, Serious Coronary Disease, Major Organ Transplant and Kidney failure ( Available to the customer and his/her spouse)
‘Free Look’ Period
There is a 'Free Look' period of 14 days commencing from coverage effective date within which you can cancel your policy and obtain full refund of your premium paid.
Policy Effective Date
Coverage in respect of the insured person starts from the day the insured person’s HSBC Account is debited for the premium under the policy.
Eligibility
- Any HSBC customer who is a Pakistani national between 18 and 65 years of age.
- Spouse- Between 18 to 65 years of age on the date of purchase.
- Children- Between 6 months to 18 years of age on the date of purchase. Coverage may be extended to 22 years of age if child continues to be single, student and economically dependent on parents.
Family Shield offers you the flexibility of choosing between 3 coverage levels:
Coral
| Cover for | Customer Cover Amount | Spouse Cover Amount | Per Child Cover Amount* | Annual Premium (For Customer, Spouse and Children)* |
| Death due to accident | PKR 1,000,000 | PKR 1,000,000 | PKR 100,000 | PKR 12,800 |
| Death due to sickness | PKR 1,000,000 | PKR 500,000 | - | |
| Hospitalization (Per day) |
PKR 3,000 | PKR 3,000 | PKR 750 | |
| Dread Diseases | PKR 1,000,000 | PKR 500,000 | - |
Pearl
| Cover for | Customer Cover Amount | Spouse Cover Amount | Per Child Cover Amount* | Annual Premium (For Customer, Spouse and Children)* |
| Death due to accident | PKR 2,000,000 | PKR 2,000,000 | PKR 200,000 | PKR 18,600 |
| Death due to sickness | PKR 2,000,000 | PKR 1,000,000 | - | |
| Hospitalization (Per day) |
PKR 6,000 | PKR 6,000 | PKR 1,500 | |
| Dread Diseases | PKR 1,000,000 | PKR 500,000 | - |
Pearl Plus
| Cover for | Customer Cover Amount | Spouse Cover Amount | Per Child Cover Amount* | Annual Premium (For Customer, Spouse and Children)* |
| Death due to accident | PKR 5,000,000 | PKR 3,000,000 | PKR 500,000 | PKR 25,000 |
| Death due to sickness | PKR 2,000,000 | PKR 1,000,000 | - | |
| Hospitalization (Per day) |
PKR 10,000 | PKR 10,000 | PKR 2,500 | |
| Dread Diseases | PKR 1,000,000 | PKR 500,000 | - |
* Up to 4 children
Frequently Asked Questions
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What is Family Shield?A health and life insurance product exclusively available to HSBC Pakistan customers and their families. It offers 4 covers and 3 coverage levels under 1 policy.
Any HSBC customer who is a Pakistani national between 18 and 65 years of age.
The HSBC customer, his or her spouse, and up to 4 children who are single, student and economically dependent on parents.
• Spouse- Between 18 to 65 years of age on the date of purchase.
• Children- 6 months to 18 years of age on the date of purchase. Coverage may be extended to 22 years of age if child continues to be single, student and economically dependent on parents.
Annual.
Direct debit from your HSBC bank account.
This policy is valid for 1 year and will be renewed automatically by debiting the annual premium from your HSBC bank account.
Your coverage will be effective from the date premium is debited from your HSBC PKR bank account.
No. The in-hospital income daily cover insures you against as many hospitalizations during the policy period, but up to a maximum of thirty (30) days per hospitalization.
MetLife Alico Pakistan will pay each Principal Sum Insured amount for accidental death that you and your spouse are eligible for as part of your selected coverage option.
The cover amount will be paid to the beneficiary(ies) of the policy. In the event the beneficiary is the spouse, then the cover amount will be paid to the legal heirs of the customer.
Yes, the policy provides global coverage. However claims will be decided in Pakistani Rupees in Pakistan as per the Policy terms and conditions.
Family Shield is an insurance product underwritten, issued and subject to terms and conditions set by MetLife Alico (American Life Insurance Company (Pakistan) Limited).
No, this product has been designed exclusively for HSBC customers and can only be purchased through HSBC at the stated price for the respective coverage level.
Yes, Hospitalization (due to sickness) cover is subject to elimination period of one (1) day. Dread Disease cover is subject to waiting period of sixty (60) days and survival period of twenty eight (28) days.
Family Shield does not cover any loss resulting from or due to the following:
• Any pre-existing conditions
• War, murder, civil commotion, riots and assault
• Travel to or stay in Iraq, Afghanistan and war zones
• Riding/Driving in a vehicle engaged in any race, speed and / or endurance test or stunt
• AIDS/HIV
*Please refer to Family Shield Terms & Conditions for a complete list of exclusions.
Yes, you have a free look period of 14 days commencing from coverage effective date within which you can cancel your policy and obtain full refund of your premium paid.
For claims, please contact MetLife Alico Pakistan Claims Manager at (021) 111-111- 711 from anywhere in Pakistan or send an email to claims@alicopak.com
MetLife Alico Pakistan will settle all claims within 15 business days of completion of required documentation.
*For any other queries or more details, please refer to Family Shield Terms & Conditions leaflet.
