As part of your planning to achieve financial wellbeing, insurance is one that plays a vital role. With proper planning, it could provide financial security for you and your loved ones.
Through each phase of our life, from – moving into your first home to raising a family, the importance of having a proper protection plan increases. It helps to provide a sense of security if something were to happen to you.
Protecting your family against financial loss should the unexpected happen.
Your family depends on you to enjoy the standard of lifestyle you have achieved. This is especially important when you plan or have already started a family. Should the unexpected happen, you can be reassured that you or loved ones could continue to maintain a similar quality of life.
Reduces stress during difficult times
An unexpected or unforeseen circumstance could occur. Tragedies such as injuries or death could leave you and your family in emotional distress and grief. Having a plan in place could serve as an aid and reduce any financial stress that may occur and at least they would be financially secure should you not be able to provide for them anymore.
Always be prepared
We live in a world where good health can’t be taken for granted.
This means that these families will be left to grapple with not only the emotional stress of coping with critical illness or the loss of a loved one, but also the ongoing financial burden that typically comes with it.
That’s why having an immediate financial payout upon death or diagnosis of critical illness during the early or intermediate stage could make all the difference for you and your loved ones.
Each individual will need different type of insurance as each will have their own needs based on their circumstances, but almost all could definitely benefit from a basic health insurance plan. With the world now burdened by the COVID-19 pandemic, there is never a better time to have proper planning in place.
Depending on which stage of your life you’re at, reviewing your overall level of protection should be an integral part of your financial plan.
Contact us today for a complimentary financial consultation and how we can help you with the right insurance to fit your lifestyle and needs.
¹ Adapted from Singapore Cancer Registry Annual Report 2019.
² Based on survey findings from AXA ‘Singaporeans financial preparedness for Critical Illness’
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