Advertorial presented by HSBC Bank Canada
Once you?ve become established in your new home, your next challenge is building a secure financial future. We each have different hopes and dreams. Being financially secure gives you the power to achieve them.
Financial security can be defined as being able to accomplish three specific goals:
- Making essential and major purchases
- Overcoming unexpected financial challenges
- Protecting your wealth and your family
HSBC is committed to helping you with these goals and providing insight on ?Achieving Long-Term Security? with this article series.
Protecting Your Wealth and Family
It?s always a good idea to think about protecting your wealth and family. It?s unpleasant to think about, but what would happen if you were unable to earn an income or pass away??In addition to dealing with the emotional stress, your family might also have to deal with severe financial stress. Fortunately, this stress can be prevented with several different types of insurance*:
Mortgage Life Insurance: In the event of your passing, mortgage life insurance will pay off the remaining principal and interest on your mortgage up to a maximum of $500,000.
Mortgage Disability Insurance: Pays up to $3,000 per month for up to 24 months if you become disabled due to certain illnesses or injuries.
Line of Credit Insurance: Pays off the balance of your line of credit up to a maximum of $500,000 should you or your co-insured partner pass away.
Personal Loan Insurance: Covers your monthly loan payment in case you are unable to work because of certain illnesses or injuries.
*The information above is for illustrative purposes only and refers to insurance products offered by HSBC Bank Canada to help you understand how insurance can protect you.
For more information about achieving long-term financial security in Canada:
Visit your local HSBC Bank Canada branch.? For a complete listing of HSBC branches, visit hsbc.ca, click on ?Contact Us?, and select ?Find a Branch/ATM??Call us at 1-888-310-HSBC (4722), or?Visit hsbc.ca/advance
?Issued by HSBC Bank Canada
The HSBC Advance package is comprised of 4 products ? HSBC Advance Chequing account, HSBC Advance Savings account, HSBC Advance MasterCard? and a $5,000 personal line of credit. The chequing account, MasterCard and line of credit products are subject to credit adjudication and approval. When you have $25,000 in personal deposit and/or investments with HSBC Bank Canada or its subsidiaries, the monthly fee of $25 will be waived; if you do not have the minimum $25,000 your HSBC Advance Chequing account will be debited the $25 monthly fee. If you have relocated to Canada within the past 3 years, the $25 monthly fee is waived for the first 12 months. Transaction fees will be charged for services not included in the package. Please refer to the Advance MasterCard? Rates & Fees as well as the Personal Service Charges brochure at hsbc.ca/advance for full details. If you do not wish to apply for all HSBC Advance products in the package or are interested in similar products separately, please call 1-888-310-4722 or visit a branch. ?MasterCard is a registered trademark of MasterCard International Incorporated. Used pursuant to license.
The content herein is not intended to provide specific tax advice and should not be relied upon in this regard. Please consult your tax advisor to find out which strategies suit your tax situation. HSBC Bank Canada makes no guarantee, representation, or warranty and accepts no responsibility or liability as to the tax treatment of these services.
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