Planning

Planning for the unexpected?

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It could be a good idea to plan for the unexpected things in life

What would you do if you lost your job or became ill and unable to work? Would you have enough savings in place to survive on for the foreseeable future? You may not want to dwell on it, but what would happen if you died? If you have dependants, how would they cope financially without your income and if you have a mortgage, who would continue with the repayments? Preparing for all eventualities can provide peace of mind, which is why you may want to consider protecting yourself and your loved ones with insurance.

Insurance is a good way to safeguard against unplanned events and can provide your dependants with a lump sum or regular monthly income.

Solutions you might want to consider include:

  • Life insurance
  • Funeral savings plan
  • Income protection
  • Critical illness cover

Saving for a rainy day is always a good idea. But your savings may not be enough, so you may need to take additional measures, such as taking out an insurance policy. Insurance is a good way to safeguard against unplanned events and can provide your dependants with a lump sum or regular monthly income.

Your options include:

  • Income protection gives you a tax-free income if you're unable to work. Both short-term and long-term options are available
  • Critical illness cover typically gives you a lump sum if you contract one of the serious illnesses covered by the policy, although it can also come in the form of regular payments.

Although your funeral costs might be covered by any savings you have, or your life insurance policy lump sum, plans are available that enable you to pay for your funeral in advance. This will give you peace of mind that your family won't have to think about covering the costs during their bereavement.

Check if you qualify for advice

If you have £50,000 or more in savings and investments, you may be eligible for HSBC Premier Financial Advice. See the full eligibility criteria.

If you don't qualify for HSBC Premier Financial Advice or if you'd rather not pay for advice, see other ways we can help.

We charge for our service - our fees vary depending on your individual needs. Your adviser will clearly explain our fees upfront and the type of advice we offer in your initial, no-obligation consultation.

Please be aware that the value of tax benefits will depend on individual circumstances and tax rules can change.

Some of these links may allow you to access another HSBC Group website. Please read the terms and conditions of the linked website, which may differ from the terms and conditions of HSBC Bank plc's website.

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Need financial advice?

We can help give you expert advice for your individual circumstances.

See how we can help

Need to talk to us?

To discuss options or book an appointment:

0800 032 4710

Our opening hours are Monday to Friday 9am to 6pm (excluding public holidays). Calls may be monitored or recorded.

Everyone's circumstances are different and what applies to one person may not be right for someone else. The suggestions above are based on a general assumption of each circumstance and they are not intended to provide advice or recommendation.