Why do I need insurance?
Unfortunately, the journey of life is not always smooth sailing. Unexpected events can get in the way of our lives or keep us from living each day to the fullest. For those expensive things, you can let your insurance cover the cost for you.
Insurance allows you to focus on the most important things in life because it provides financial security for you and your family in the event of an unfortunate accident. When you have to deal with onerous financial burdens, such as hospital bills and medical bills, insurance can help you handle those costs so you can continue to follow your dreams.
You can do this:
- Medicare helps you pay your bills in the event of any illness, accident or disability.
- Income insurance pays your monthly salary if you are unable to work.
- Life insurance takes care of your loved ones financially when you lose your ability to work. Purchasing this type of insurance ensures that they can continue to enjoy a comfortable lifestyle with little or no hassle.
- Education and Retirement Planning helps you get what you think is important - whether it's sending your kids to study abroad or living comfortably in retirement.
- Savings plans don't just help you accumulate savings, they protect your partner and children. These programs can also be used to accomplish mid- to long-term goals, such as housing upgrades, further education, or a temporary absence from work.
The sooner the better! When you get your first paycheck, it's a good time to start accumulating your medical care and lifetime protection. Buying insurance early can give you peace of mind that you won't have to pay expensive premiums. Choose a policy and premium that suits your needs and budget, and then change the coverage level of your policy as your needs change.
Look after you and your family's health first, then look at life insurance that can protect your family's finances in the event of an unfortunate accident. Finally, you might consider choosing a policy that will give you and your family a savings for the future.
There are many medical, life and savings plans on the market to suit any budget and need. When choosing the product that's right for you, the most important thing is to take control of your finances and make sure you're saving a portion of your money for emergencies or unexpected health crises. The amount you need to save varies from person to person, and it is best to talk to a financial advisor and let them give you the best advice. Factors you should consider include what stage of life you are in, your budget, and to some extent, what you want to have in this life.
When taking your first steps, you should start with personal health insurance to protect your most important needs. This includes accident insurance, as well as protection for medical, surgical, and other medical expenses.
It is important to take care of yourself first. Making sure your family has enough money to cover all the necessities is also a good way to protect them. These costs can include paying for your child's education, paying off your mortgage, funds for emergencies, and caring for dependents such as aging parents.
Am I not covered if I have a family history of cancer, diabetes or high blood pressure?
In such a family history situation, the insured will usually have to pay an additional premium that is 25-50% higher than the average policy. That's why, you should buy insurance early - especially while you're still healthy.
Even if your family has such a medical history, you still have the chance to be covered. In fact, additional premiums may also be cancelled. Don't hesitate, buy medical insurance now, because of your family medical history, any one symptom can cause additional premiums to rise or completely disqualify you from coverage. At the end of the day, paying higher premiums is better than being completely unprotected when an illness strikes.
What should I do if I cannot pay my premiums due to financial or health problems?
We have a range of options to help you through this difficult time. One is a temporary waiver of premiums, or a loan. Another option is to earn a fixed monthly income even when you can't work. Some education savings plans also include additional benefits, which kick in when a parent becomes ill or dies. This extra protection includes exempting the child insured from future premiums and ensuring that education fees are paid off early.
I am the breadwinner of my parents. Is there any insurance plan that will do that for me if I can't take care of my parents?
Yes, we have many of these plans that allow you to name your parents as a beneficiary and receive a one-time payout if anything goes wrong with you. This compensation will take care of your parents' financial needs. You can also purchase a policy for them that covers expenses related to hospitalization, surgery, physical therapy, and even TCM treatment. These pay out monthly payments or make a one-time payment when the insured becomes disabled.
Why should I spend my money on insurance instead of a high-yield fixed deposit, or my child's education fund?
Insurance is multi-layered and can also cover many different situations. In fact, while a fixed deposit account can feel more secure because of its high interest rate, an insurance savings plan can be tailored to provide a guaranteed payment as your child reaches various educational milestones, which is why , you don't have to worry about rising fees. If anything happens to you, you can also rest assured that your family's financial situation is covered. Having some money in the bank is a good start, but to increase the value of your savings—and increase your savings—insurance is the best option: it offers a higher rate of return and is better at helping you cope with difficult times. Your needs depend on your stage of life, and insurance gives you choices based on those needs. Whether you're a young single, responsible for your kids, or about to retire, insurance can give you valuable benefits and peace of mind.
There are a variety of insurance plans on the market that provide convenience, such as protection coverage, expenses, and long-term wealth accumulation - all of which can help you get financial security at an affordable price.
Now that you have a better understanding of what insurance is and how you can benefit from it, talk to your distribution agent to learn more about the policy that suits your needs.
