Paradigm Protect, which is part of Paradigm Mortgage Services, has become the first directly authorised (DA) distributor to add HSBC Life to its panel.

The move follows a successful pilot period.

Since establishing in 1988, HSBC Life has paid £1.5bn in claims to over 39,000 HSBC customers and has a selection of short and long-term protection products for life and critical illness cover.

The firm also offers clients access to its app-based service, HSBC Life Health Online Services, which provides both expert medical assistance and wellbeing support.

Paradigm head of protection, Mike Allison, commented: “We’re very pleased to be able to announce that Paradigm Protect is the first DA distribution club to have access to HSBC Life’s range of protection products. The need for protection has perhaps never been so great, given the harsh reality of what the pandemic has meant for many people’s incomes and jobs.

“There are no guarantees about what the future might bring and it’s therefore absolutely imperative all advisers make sure they have the protection conversation with every single client. Being able to offer our member firms access to HSBC Life’s products is a major coup and we are looking forward to working with the team there to ensure our advisers utilise all the options available to them and their clients.”

HSBC Life UK head of protection sales, Mike Furniss, added: “We are excited to be partnering with Paradigm Protect and look forward to providing its advisers with increased quality protection options for their customers. This partnership is a natural progression for HSBC Life as we continue to offer our protection proposition to a wider customer base, via key strategic partners.”

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