The late Janet Reno once said: “I have learned that raising children is the single most difficult thing in the world to do. It takes hard work, love, luck, and a lot of energy. It is the most rewarding experience that you can ever have.” Creating and nurturing a baby in Singapore is no walk in the park! Encountering sleepless nights, medical scares, and embarrassing moments are unavoidable. One is never completely prepared for what is about to come. However,
Singapore’s public and private hospitals offer some of the world’s most exceptional healthcare services. The only drawback is the rising healthcare costs of about 8-9% each year. Other countries are embracing this upward trend due to the global inflation. The question now is: “How will you save for future healthcare costs?” CREATE A SEPARATE SAVINGS ACCOUNT If you have a trusted financial advisor in your network, discuss about the feasibility of opening a separate savings account for your healthcare costs.
1. DO NOT PURCHASE INSURANCE POLICIES BASED ON ITS PREMIUM As most companies employ monthly premium payments, premiums had become a fixed cost for consumers to consider. But if you solely focus on the price, you might miss out on the policy’s coverage.For example, you may buy the cheapest premium without checking if the insurance policy has disability benefits. There are a number of exclusions, deductibles, and other factors that you should take note of. Do not purchase a policy just
Insurance is a safeguard against unfortunate and unforeseen events. It is a strategic way to manage various risks. Insurance companies offer individuals or policyholders protection from potential losses in exchange of payments called premiums. Aside from guaranteed coverage, what are the honest reasons why people buy insurance? On the flip side, what are the insurance company’s objectives as they offer their services? OBJECTIVES OF INDIVIDUALS As you age and progress along the stages of life, you become more and more
Insurance is a binding contract or policy in which an individual receives reimbursement or financial protection against losses. It provides coverage or security against a myriad of unwanted or unforeseen events such as death of the spouse, permanent disability, critical illness, and damaged car. First, you must determine the situation you are in then and decide what type of insurance is appropriate for you. The policies and the insurance jargons can be confusing to a novice. To help you, here