Insurance is not the most popular topic in any chill-out joints, or any place for that matter. But it is one of the most important personal financial planning issues to address first to ensure a peace of mind.
In the area of personal family and wealth protection, there are 2 insurance policies you must have:
1) Health or medical insurance.
This will handle the hefty medical bills that will be incurred for hospitalization, doctor’s consultation, surgeries etc. Without adequate medical insurance, you will have no option but to delve into your life’s savings to pay for your medical costs in case of accidents and illnesses. If a prolonged hospital stay is required, you may even be bankrupted by the medical bills.
2) Life insurance.
This is a must especially if you are the main breadwinner of your family. It protects your family from financial uncertainty in case you lose your ability to earn an income, either due to disability, death or sickness. There are various types of life insurance policies eg term policy, whole life policy etc to suit consumers of different profiles.
Life is full of unforeseen twists and turns; therefore, no financial plan is complete without insurance policies. Good personal insurance policies do not just cover you and your family in times of crisis, they also protect your savings and investments. This is why insurance is such a critical tool for risk management and personal financial planning.
Insure yourself, protect others.
Disclaimer: All information, commentary and statements of opinion contained in this publication are for general information purposes only. They are not intended to be personalized financial or investment advice as they do not take into account your individual circumstances. You are advised to speak to a qualified financial consultant before making any financial decision. This publication should also not be construed as an offer or solicitation to purchase or sell any insurance or non-insurance products including any that may be mentioned here. Whilst we have taken all reasonable efforts to ensure that the material contained in this publication is accurate and informative, InsuranceGuru.com.sg and the author of this article do not warrant or guarantee its accuracy, reliability or completeness. InsuranceGuru.com.sg, its employees, parent, related companies, agents and the author of this article will not be liable for any direct, indirect, incidental or any other type of loss or injury resulting from your use of this content.
Copyright © 2017 InsuranceGuru.com.sg All rights reserved. No part of this publication may be reproduced, stored, transmitted in any form of by any means without InsuranceGuru.com.sg’s prior written consent.
If you are seeing this article sent through your email from InsuranceGuru.com.sg, it is because you had subscribed for it at some point in the past. If you do not wish to receive such emails in the future, you can unsubscribe by clicking here to submit your request. Thank you.
The author of this article is Mr Sean Ong. He is a Certified Life Coach and a Chartered Financial Consultant with more than 14 years of experience in the finance industry. A shareholder with the one of the largest independently-owned financial advisory company in Singapore, Sean also leads a top financial advisory group and has been featured on the local TV and radio. In his efforts to contribute to the society, Sean ran 1,000km over 87 days to successfully raise more than $13,000 for a children charity in Year 2012. He also published a book called “Mend Your Socks!” where sales proceeds were donated to charity. Sean can be contacted at firstname.lastname@example.org.