For Parents/Future Parents (assuming family is important to you
and high awareness on importance of protection plan)
Budget is always an issue when it comes to taking protection plan (life insurance).
This is due to various reasons, such as meeting loans/commitments, school
children expenses, holiday,shopping spree,savings, investments etc..
Therefore, you must ask this important question,
"Who MUST be insured when Budget is an issue?"
Recommended family financial planning from protection
point of view.
Priority List:
1. Parent (breadwinner with the highest income, normally husband)
2. Parent - mummy, assuming mummy's income is slightly lesser than hubby
3. Children, priority to those who prone to normal illness like flu (sign of weak antibody)
Why?
1. Parent (breadwinner with the highest income, normally husband)
2. Parent - mummy, assuming mummy's income is slightly lesser than hubby
3. Children, priority to those who prone to normal illness like flu (sign of weak antibody)
Why?
Because breadwinner is the pillar of family financial strengh.
Naturally the whole family especially children are relying heavily on parents,
i.e. breadwinner.
Just think 4 a sec, if anything were to happen to the parent (ie death, critical illness)
what would happen to the family financial strengh? Gone?
Can the children survive & have a bright future for their sweet lifetime
without strong financial support for living, education etc?
What would be you answer?
And as always your answer will determine your priority & action..
and all of the sudden, budget wont be a big issue, therefore do
re-plan & act accordingly..
Financial Planning Guru says..
"PROTECT FIRST INVEST SECOND"
Hope that helps!
