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The Power of Protection

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HSBC's The Power of Protection Confidence in the future report is an independent study into global protection needs and trends.

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Here are four important insights and practical steps drawn from the report that may help protect your future

1. Identify your biggest concerns

71% of those who actively plan for the future have high expectations for their future quality of life.

Review the financial protection you have in place today. See if it is enough to cover any concerns you have about providing for you and your family's lifestyle, home, health and future, if something unexpected should happen.

2. Know your future aspirations

65% say what they worry most about in life is their health.

Think about your aspirations for the future. Seeking professional advice could help you understand what protection you may need to put in place to achieve them.

3. Have an action plan

51% say an unexpected life event would have a greater emotional than financial impact on them.

Have an action plan Once you understand what protection you have and what you need, explore the options available and take action to bridge the gap.

4. Review it regularly

60% of those with life cover either don’t know how much it would pay-out or think that it would be insufficient.

Employer and Government benefits may not be sufficient for all your needs, and your circumstances will change over time. Review your plan regularly so you can take corrective action early.