Protect Your Family With Insurance

Dear Prospect

PROTECH YOUR FAMILY WITH INSURANCE

Car Insurance, home insurance, life insurance, - It’s a lot of think about . But remember what these products are designed to do: project you and your family by insulating you from the financial repercussions of unforeseen events such as illness, death, disability, accident and etc.

There is an abundance of insurance products available to meet a wide variety of needs. Some of the more recently introduced products include long-term care insurance and critical illness insurance.

Which type of insurance you need, and how much coverage you require, depends on a few variables. To determine your needs, ask yourself questions such as :-

• If I became disabled and couldn’t work for five years, would I still be able
to maintain a comfortable lifestyle and make my rent or mortgage payment?
* If I did suddenly, would my partner and children be sufficiently provided
for?
• If I suffered a stroke and needed long-term care in a nursing facility,
would I have the funds to pay for it?
• If I was diagnosed with cancer tomorrow, how would I cover any medical costs
and protect my family from the loss if my income while I recover? If I or my
partner were to die suddenly, would I have sufficient term insurance to pay
off my mortgage?
• If I’m self employed, do I have sufficient disability insurance or extended
health coverage? If I run a small business with just two or more employees,
have I considered creating my own group plan?

If all of these scenarios, consider the short and long term ramifications for you and your family if you didn’t have insurance.

If you feel tempted to skip life insurance and play the adds, look at it this way, says Gail Vaz-Oxlade in her Retirement Answer Book. “You’ re not insuring your life, you’re inuring the economic value of your life, or your ability to earn an income in the future.”

Whether or not you need to buy life insurance, she says, depends on how much you have in the way of assets, how much debt you have, and whether or not your family could make ends meet without your income. As a Financial Services Provider for ING can help you assess your requirement.

To figure out how much life insurance you should have, says Vaz-Oxlade, add up the following expenses , and subtract them from your family’s assets and income :

• Your family ‘s monthly budget needs
• Costs associated with your death
• Debts to be paid off
• Exceptional Expenses

“ The discrepancy between what your family has and what it will need must be covered in come way if you wish to minimize the financial impact of your death,” says Vaz-Oxlade. “That’s where the insurance comes into play,” Of course, this calculation just gives you a general idea. Every situation is different, and it would be best to consult us for a closer look at your insurance needs.

Best Regards.

LAW WAH SING (0127835644)
Authorized Agent for ING