What If I Suddenly Passed On?
I am glad you are finding out what you can do to make sure that your loved ones are protected in the event you are not around.
When you passed on, how will it impact your loved ones and family financially?
Have you thought how your growing up children live without finances?
How your spouse going to feed your family when there’s no income?
We have the solutions to these concerns. Read on.
How Much Is Enough?
It depends on your income that you want to protect.
If a person is earning $5,000 per month compared to $10,000 per month, the lifestyle and assets are different. Therefore, the best way to determine how much you need to protect is based on your income.
Rule Of Thumb
In the event of death, we encourage you to protect 10 years of your annual income.
Assuming you are earning $10,000 per month, you will need to have:
Annual Income: 12 months X $10,000 monthly income = $120,000.
10 years X $120,000 = $1,200,000.
You have options to prepare the $1.2 million.
First, you can set aside this amount of money so that when something happens, this amount of money is given to your growing up children. The question is, how many of us with a $10,000 income have $1.2 million.
The second and easier option is to purchase a life insurance policy with a small premium monthly.
There are different kinds of life insurance policies e.g. whole life insurance, term insurance, mortgage insurance (to protect against outstanding housing loan) and keyman insurance (to protect corporate’s key person).
Talk to our Financialogist and we will be able to advise you based on your budget constraint, time horizon and suitability.
Want To Know More How To Get Yourself Protected?
If you would like to know more about getting insured, you may contact us at (+65) 9380 2839 or you can click on the button below to enquire about the different financial services that we provide.
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Products & Services
- Life Insurance
- Term Insurance
- Health Insurance
- Keyman Insurance
- Mortgage Insurance
- Whole Life Insurance
- Endowment Insurance
- Critical Illness Insurance
- Hospitalisation Insurance
- Early Stage Critical Illness Insurance
We are a licensed and certified Financialogist in Singapore that provides a comprehensive financial planning solutions to meet all your financial and insurance protection needs.
Address: 47 Scotts Road, Goldbell Towers, Singapore 228233
Contact Number: +65 9380 2839
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