Principles
of insurance are financial protection for unpredicted and unprepared condition.
When is the money critical condition we may face in our life? Serious illness
from us or our family members, losing of working ability causes by illness or
accident, or death of our selves or family members will need us to use a lot of
money at the same time following by the decrease of income or total loss of
income generation. We will face the situations like no money, money not enough,
using up all the spare saving. Life insurance can help us to avoid such
situations. Life insurance can provide us with huge cash in short term period.
If you have “no time”, life
insurance will pay you large amount of cash; if you “have enough time”, life
insurance will return you the principal with interest altogether.
The definition of “no time” means
that you are no longer able to work (disability insurance), to generate income
for your family daily expense (income protection insurance), for children
education expense, for medical expense (medical insurance), for mortgage
payment (mortgage protection insurance) and etc. In this situation, life
insurance will fork out large amount of cash for your family, like pay for your
“work for few years” income depending on the amount of life insurance you
purchase.
1. Parent
living expenses – parent used up their life to take care of us, it is the
responsibility to support their cost of living when they are old.
2. Couple
– Couple should share the mutual respect and love, and the responsibility to
support family.
3. Children
– Raising up children and let them educated is our responsibility.
The
3 responsibilities above are the things that we are most willing to do with our
inner deep love and it need a lot of money. The time and money that life insurance
sells help us to undertake these 3 responsibilities.
Life: Cost of living. To lead a
quality life, we need to have money to sustain the living cost and quality of
life, and also prepare for cost of living increase over the time.
Aged: Retirement planning. Decrease
of income generation or total loss of income generation, increment of expenses,
gradually weakness of body function – After work hard for few 10 years, how we
can spend our golden age in comfortable condition? Do we prepare enough saving
for retirement or money to support life after retirement? Early retirement may
be realize if you have retirement planning.
Sickness: Medical expenses. Does
anybody here never get sick in his/her whole life? No matter it is minor
illness or serious illness, we need to pay for the medical expenses and prepare for the unpredicted cost arising from the
medical expenses.
1. Income
protection: It guarantees us with large
amount of money equivalent to few years of income when unpredicted accident
happens to us. Early financial planning and risk management by life insurance
are important to realize the goal.
2. Wealth
protection: It ensures our wealth will not taken by outsiders and make sure the
wealth will not shrink.
3. Clan
future protection: It ensures our children able to enjoy education to realize
clan prosperity.
4. Family
responsibility protection: To realize “support our parent”, “raise up our
children”, and “mutual financial responsibility for couple”
5. Living
value protection: It protects our living dignity that arising from money issues.
6. Life insurance concern about 6 door
Life
insurance is not a complicated product, it closely related to our daily
activities in our life.
1. Family door:
Family is where we work hard for, the
places we rest and re-energize, and the place we enjoy our life and joys.
2. School
door: School is the source of education for our children future.
3. Job market
door: The place where we earn our income to sustain our life and provides
quality life to our family.
4. Shop door:
The place we expenses for our daily activities like shopping mall, car retailer
shop, wet market, shopping mall, etc.
5. Hospital
door: We need to able to pay for the hospitalization
fee and daily expenses until we gain recovery and able to work.
6. Heaven door:
At this period, what do we leave to our beloved family? Heritage or debt? We
give all the wealth to our family or half of our wealth going to tax
department?
7. Life insurance involves 7 types of
people around us
1. Our parent: At their retirement age, they need
our support from aspect of material (living cost) to mental (respect and
dignity).
2.
Wife/husband: We need to ensure our partner not to take the financial burden
alone when anything happen to either one of us.
3. Our
children: Before step into job market, we need to make sure our children have
education protection.
4. Our
business partner: We need to make sure
our wealth not taken away by business partner.
5. Our
employee: Better company protection easily and better to maintain employee.
6. Our
creditor: With more financial protection in hand, the creditors are not worry
about default and urge for debt repayment.
7. Our savers:
We need to be able to pay for medical fee and lawyer fee.
Life
insurance might not be a necessity but it definitely a spare tire that save our
life in emergency situation.
9. Life insurance help us in 9 essential
planning
1. Clothes 2. Food 3. Accommodation 4. Transportation 5. Medical expenses 6. Entertainment 7. Education 8. Socialize 9. Investment
These are the 9 essential planning we need to have in our life to lead to quality life.
These are the 9 essential planning we need to have in our life to lead to quality life.
10. Life insurance display 10 objectives
1. Happiness 2. Safety 3. Family responsibility 4. Mental health and ease 5.
Serenity and ease 6. Growth 7.
Future 8. Dream 9. Oneself 10. Root of unity
For Malaysia Johor area and Singaporean only, feel free to WeChat : alexmah_hua for more details and quote.
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