Many people put off buying life insurance for a number of reasons. Do any of the situations below sound familiar to you?
1. “It’s So Expensive!”
In the ever-burgeoning budget of a family, stuff like household expenses, childcare, tuition and loans takes up a large chunk of money each month and to most people, insurance does not belong to the ‘necessities’ category when money’s tight. However, insurance might not be as pricey as one deems it to be, especially so when you could get a policy for less than the cost of your daily dose of teh peng
at the coffee shop. And well, if money is an issue to you right now, what about when tragedy happens and something happens to you or your loved ones?
Don’t wait, speak to an advisor now to get your rates.
2. “I’m In Great Health!”
You eat clean, exercise regularly and everyone admires your discipline. You got a Gold for your recent IPPT test and you’re always in good shape. That’s fantastic but no one can predict what’s going to happen next. It’s not that something will happen to you, though it could, hence there is no better time to get yourself properly covered and insured when you are at your healthiest. Should you fall ill or suffer from any permanent injuries in the future, it would make it much more difficult
to get a coverage later on, if any at all.
Buy early, buy now. Don’t let the insurers turn you down.
3. “Don’t Worry, My Work Place Got Me Covered.”
Nowadays, it’s a common sight for employees to have insurance coverage as part of their employee benefits package. The benefits of group insurance differ for every employee from various companies but they should typically have coverage for Total Permanent Disability (TPD) and death. Or at least, that’s usually the main objective of group term plans.
People don’t usually think much of the coverage and assumes its sufficient until something happens and realise they are not adequately insured. Besides, once you leave the company, the insurance coverage that you are currently enjoying does not ‘move on’ together with you.
Unaware? Don’t despair, be prepared.
4. “Insurance are for those married with children.”
Sure, kids play a rather important role as to why some people purchase life insurance. But, should that be the only litmus for getting coverage? If there is anyone in your life who requires financial security when you are no longer around, be it your spouse or your parents, a life insurance goes a long way in ensuring that they get the protection they need. In fact, life insurance could also be a great financial tool for young, single and savvy adults who are looking to build up their nest egg to prepare for the future.
“It’ll be on my list ........ eventually”
There’s no mandate from the government saying that you need to purchase it, nor is there a deadline for it. Your parents may not even have talked to you about its importance and it is definitely not the most interesting subject for conversations. But don’t let your eventually turn into your loved ones if only.
If any of this sounds cumbersome, just know that you can always speak to a financial consultant at no cost. They will certainly help you figure out what your needs are, and also advise you accordingly so that you can be adequately insured.