Insurance for EVERY LIFE STAGES: At different stage of your life, your needs will change. To help you understand how insurance may apply to you at the different life stages in life, we have outlined the four main life stages which may apply to you. YOUNG SINGLES: 1) For the young singles who are young graduates, ambitious, independent and carefree Priority: Establishing a career and setting financial goals Considerations: - Will my employer provide health benefits? - Will an accident or illness impair my current lifestyle either temporarily or permanently? - Do I demonstrate financial instability? - Should I buy a car? Insurance for consideration: - Health insurance or Shield plans - Personal Accident Insurance - Savings plan - Car insurance - Life insurance NEWLY MARRIED COUPLES: 2) For the newly married couples who are buying new house, managing additional household finances and doing family planning Priority: Protection for your spouse, paying mortgage loans and building financial security Considerations: - How much can I afford to pay for my house? - What will happen to my spouse should an unfortunate event happen to me? - What are my financial obligations? Insurance for consideration: - Life insurance - Personal Accident insurance - Home insurance - Critical illness coverage - Investment plans NEW PARENTS: 3) For new families who are nurturing parents with children Priority: Protection for your dependents and providing financial security for your children’s education Considerations: - How much should I set aside for my children’s education? - What will happen to my dependents should an unfortunate event happen to me? - Are my children susceptible to accidents? Insurance for consideration: - Health insurance for the children - Endowment plans - Savings plans - Life insurance - Child Personal Accident insurance RETIREES AND SENIOR CITIZENS: 4) For retirees and senior citizens who are spending time with their grandchildren and has accumulated wealth and assets Priority: Secure regular income for retired life, adequate medical and accident coverage and protection of assets Considerations: - How much do I need to maintain the desired living standard when I retire? - Am I susceptible to accidents? - Do I have enough medical protection? Insurance for consideration: - Health insurance - Annuity plans - Senior Personal Accident plans - Long-term care insurance Disclaimer The information or opinions provided in this article do not constitute an investment advice, an offer or solicitation to subscribe for, purchase or sell the insurance product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of this information. Any information relating to insurance products in this article is an overview of some benefits and features of the product and is not a contract of insurance. Full details of any insurance plans are provided in the relevant policy contract.
Posted on: Thu, 05 Sep 2013 06:28:09 +0000