If you have savings or investments, you may feel it’s the right time to cash them in.
Many bank and building society accounts are easy-access accounts. But with other types of savings and investments, you may:
Providers may ignore their usual restrictions in case of illness or severe hardship.
If you have any share-based investments, you may make a loss if the stock market is low at the time you cash in. You may have to pay surrender charges or dealing charges that reduce the amount of money you get.
Remember that insurance payouts or money from investments could affect any state benefits you claim.