The latest news on investment offerings, financial products and other services relevant to wealth advisors and their clients.

HSBC
HSBC Life Singapore, part of HSBC, has launched a retirement and legacy plan called HSBC Life Sapphire Prestige Income. 

The offering is a single premium whole life income plan that allows individuals to sustain their wealth with a regular stream of income while building up cash value, as well as accumulate and transfer wealth seamlessly across generations, HSBC said in a statement this week. 

“Global life expectancies are raising, and many Singaporeans have reached a pivotal period of their lives. Not only are they starting to reach retirement age, and thus have a greater need to maintain a steady income for the years ahead, they are also concerned about financial planning and preserving wealth for their future generations,” the firm said in a statement. 

HSBC Life Singapore cited a HSBC Life +Factor Study, which surveyed more than 2,000 people in Singapore between March and April 2021, that more than a fifth of Singaporeans (21 per cent) quoted retirement planning as a cause of stress and more than a third (36 per cent) said that saving sufficient funds for retirement was a financial concern.