Why do you need critical illness insurance in Singapore in your 20s?

 



At the age of 20, when an individual is at the peak of their health, there seems to be hardly any need for critical illness insurance . However, in reality, having a critical illness insurance plan is a smart choice that one can make. Critical illness can strike anyone at any age.  At the age of 20 when life is filled with aspiration and dreams, stumbling upon a critical illness can throw your entire life off the track. Having a critical illness insurance plan provides a peace of mind knowing that  financial burden can be minimized in times of medical emergencies. Therefore, it is never too early to get yourself covered. 

Towards better financial planning

Reports have shown that an average Singaporean lives a longer life but the majority of the time is spent in ill health as compared with about 30 years ago. Another report from The Straits Times highlighted the increase in the number of cancer patients in Singapore every year. These reports not only highlighted the rising health concerns in Singapore but also emphasized the need to make better financial plans so that health-related challenges can be handled better. Getting a critical illness plan in your 20s is a step towards better financial planning ensuring optimum financial security. 


Original Source : Why do you need critical illness insurance in Singapore in your 20s?


Comments

Post a Comment

Popular posts from this blog

A stepwise guide to building wealth

Image
  Many aspire to acquire the desired wealth in order to lead a life full of financial freedom. However, the common misconception associated with wealth accumulation  is that it is only achievable for the rich. This is not true. Everyone has a chance to accumulate wealth. It may seems difficult right now, but with the proper steps, you will be able to save enough to lead the lifestyle you have dreamed of. Read further to know the following steps to kickstart your wealth building journey. Update your budget The first step to building wealth is to understand how you are spending your money, what you are spending on and your overall budget. This will give you a better idea about the proportion of income that you spend or save on a regular basis. Things that you need to keep a look out for are fixed expenses such as loans, mortgage, rent, etc. You may also want to reduce expenses that may not be necessary. By figuring out your budget, you can decide on how much you wish to add to savings or
Read more

Benefits of GST: What Are the Advantages & Disadvantages in India

Image
  The Goods and Services Tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The consumer pays the GST at the time of purchase. The GST replaces other indirect taxes, such as the value-added tax (VAT), service tax, luxury tax, octroi, and entry tax. The GST was introduced in India on 1 July 2017. It is a comprehensive indirect tax on manufacturing, selling, and consuming goods and services throughout India to make India a unified market. The GST levies all supplies of goods and services except those specifically exempted. Benefits of GST When it comes to the benefits of GST, there are quite a few. For starters, GST is expected to make India a unified market. This means that businesses will no longer have to pay multiple taxes on the same product or service. GST is also expected to reduce the overall tax burden on businesses, making it easier for them to do business in India. Additionally, GST is expected to lead to increased compliance with
Read more

5 Things To Know About Retirement Insurance In Singapore

Image
  A retirement insurance plan is one of the ways to save up for the golden years of your life. These plans are designed to give you a regular monthly income upon maturity. This income can help you stay financially independent in your senior years. Are you hearing about retirement insurance for the first time? If so, this article is just for you. Read on to discover 5 things you need to know about retirement insurance in Singapore. 1.     You can customise the payout period One of the best things about retirement insurance plans is that you can customise the payout period as per your requirement. You can start receiving your payouts from the age of 50 years based on your preferred payout period. Most insurers offer payout periods of 10, 15, 20, 25, and 30 years. 2.     Continue receiving stable monthly income despite market volatility Some insurers also safeguard your payout against market volatility. This is good news for you as you will get to maintain a stable income in yo
Read more