Are You Protecting Your Family’s Future?
As parents, we can all agree that providing and caring for our families are the most important things we could possibly do. If you’re like me, you’d want to give your children the world, but primarily, you want to protect them. I have three children, and each time I held them in my arms for the first time, I had an overwhelming need to protect these little lives that were entirely reliant on me.
The word “protection” has taken on a whole new meaning since I become a mother. Before kids, I thought of protection as an immediate and physical thing, like protecting someone from running into the street or getting bullied. Now as a parent, I realise that protection encompasses so much more than just physical protection, it also means securing a positive future for my family, for myself and most importantly, my kids.
What a Secure Future Looks Like
Imagine this: Everything is going well in your life. Healthy children and plenty of money in the bank? Is your family’s future secure?
No one really wants to think about the possibility of a family emergency, but a secure future depends on us as parents thinking about those things.
You need to have an action plan in the event of an unexpected illness and even an unexpected death in the family. While these things aren’t exactly pleasant to think about, a secure future for your family depends on preparing for the worst and hoping it never happens.
A secure future for my family means that everyone is financially protected should I or my husband pass away or become terminally disabled or ill. I want to have the peace of mind knowing that we’re covered financially should the worst happen. In order to provide this protection, I want to make sure that my life insurance policy provides all of the coverage we need and it’s still affordable.
How Much Coverage Does My Family Need?
According to a research study by the Life Insurance Association, an average working Singaporean would require at least S$626,000 to meet their protection needs. You’ll want to make sure that your life insurance covers at least ten times your annual earnings and take into account that the cost of health care will increase as well.
Consider how many children you have and be sure to plan as best as you can for life’s uncertainties. You’ll never regret having additional coverage, but you might regret not having enough.
Choosing the Right Plan
So you know you need coverage, now how do you find a plan that meets your family’s needs?
First, find a reputable company with a proven track record. In my research, I’ve found that Tokio Marine Life Insurance has built a reputation for excellence and they have flexible policies that can meet any family’s needs.
If you’re looking for life insurance that truly covers yourself and your family, there are two policies you should be paying attention to:
TM Term Assure – For Working Adults and Parents
As a working adult or parent, your life insurance needs are more unique and you need more coverage for your family. If you’re between 25 to 35 years old, you can have S$500,000 coverage against death, terminal illness and total and permanent disability with a five-year TM Term Assure plan for less than a dollar a day. What I really love about this plan is not just how much coverage it provides, but how affordable it is. There’s no excuse for me not to protect my family at this price.
KidAssure GIO Rider
I love that I can provide additional protection for my kids with this rider. Not only does it cover your child against 24 medical and hospitalisation conditions, you will receive a refund of 80% of the total annual premiums paid for the rider when your child reaches age 19. This refund makes providing additional protection for your kids nearly risk-free. This rider is for children from 1-10 years old and provides coverage until your child is 19 years old.
You can attach the KidAssure GIO Rider to most basic plans and you only need to pay five years of premium to get coverage until your child is 19 years old. Again, really affordable coverage here. For a rider sum assured of $50,000, it costs as little as a dollar a day. On top of all that, no medical underwriting is required for the rider.
Now Go and Protect What Matters!
Today, life insurance has become something that really shouldn’t be optional, bottom line…you need it. It all comes down to where you decide to get your coverage from. Don’t leave your family wondering what to do next if something happens to you, have the peace of mind of providing for them and protecting them no matter what.
Want to learn more? Tokio Marine has a booth at Baby World 2017 from June 30th to July 2nd, 11am-8pm! Bring the whole family and meet them in person at the Suntec City Exhibition, Level 4, booth K15 for fun and games.