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.
Eligibility requirements
HSBC Premier Financial Advice is available to UK residents who have £50,000 or more in savings and investments and who are at least 18 years old at the time of the initial consultation.
You'll also need to have an HSBC current account or savings account for us to be able to deduct your fee. We can accept payment from a First Direct current account or savings account too.
To find out more:
- See our HSBC Premier Financial Advice pages or;
- Call us on 0800 328 1298 to book an initial no-obligation consultation with a Premier Client Manager. Lines are open Monday to Friday 8am to 9pm and 9:30am to 7pm on Saturday. (Textphone: 18001 0800 028 0126). Calls may be monitored or recorded.
If you don't qualify for HSBC Premier Financial Advice, or if you'd prefer not to pay for advice, see other ways we can help.
If you are not a UK resident, see our HSBC Expat service.
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.
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.
