{"id":5602,"date":"2024-02-10T11:14:00","date_gmt":"2024-02-10T11:14:00","guid":{"rendered":"http:\/\/www.investollo.com\/?p=5602"},"modified":"2024-02-22T06:44:40","modified_gmt":"2024-02-22T06:44:40","slug":"really-need-personal-insurance","status":"publish","type":"post","link":"https:\/\/www.areyouready.sg\/really-need-personal-insurance\/","title":{"rendered":"Do I really need Personal Insurance in 2024?"},"content":{"rendered":"\n
Key Takeaways:<\/strong><\/p>\n\n\n\n
\n
Understanding different insurance types is crucial for financial protection.<\/li>\n\n\n\n
Life, health, long-term disability, and property insurance are fundamental.<\/li>\n\n\n\n
Each insurance type serves a specific purpose, guarding against various financial risks.<\/li>\n<\/ul>\n\n\n\n\n\n\n\n
What are the different types of insurance you should consider?<\/strong> The essential types of insurance to consider for comprehensive financial protection include life insurance, health insurance, long-term disability insurance, and property insurance. Each type addresses specific risks, ensuring you and your assets are safeguarded against life’s uncertainties.<\/p>\n\n\n\n\n\n\n\n
Insurance acts as a safety net, shielding you from financial loss due to unforeseen events. It’s not just a policy; it’s a strategic plan for risk management across life’s many domains. Whether it’s the stability offered by life insurance, the health coverage for medical emergencies, the income security provided by long-term disability insurance, or the protection of your property, each insurance type is tailored to offer peace of mind and financial security, allowing you to live life with confidence.<\/p>\n\n\n\n
<\/div>\n\n\n\n
One of the most evergreen questions that every generation in Singapore will ask themselves, Do I really need Insurance? Let\u2019s just for once and for all, quell all myths and doubts that are around personal Insurance.<\/p>\n\n\n\n
Most common questions answered<\/p>\n\n\n\n
What is Insurance? <\/b><\/p>\n\n\n\n
Insurance is an amount of money you pay on monthly, quarterly, half-yearly or yearly instalments that protect you and your property in case of any damage (property) or death (person). A personal generally gets paid a lump sum when they claim Insurance. It\u2019s just a protection for unforeseen circumstances as well as predictable circumstances. In case of your death, your family will get paid a lump sum of money and that is called life insurance.<\/p>\n\n\n\n
What is Personal Insurance? <\/b><\/p>\n\n\n\n
A lot of people think that personal insurance is life insurance. Life insurance is a component of personal insurance. Personal Insurance consists of Life Insurance, Income Insurance, Critical Illness, Total and Permanent Disability Insurance. So personal insurance is insuring yourself and your family from the impact of an inevitable death, or a loss of job, or a dangerous illness or a disability.<\/p>\n\n\n\n
Why do I need Insurance? <\/b><\/p>\n\n\n\n
Insurance is basically preparing yourself and your family for the future. Insurance is to make sure that you or your family is not financially dented because of any untoward happening. Insurance is comparable to that net that trapeze artists have in the circus. If they fall, they are still protected.<\/p>\n\n\n\n
The signs of a good and bad Insurance agent<\/h2>\n\n\n\n