With Singapore being the most expensive city in the world, income protection is vital for the community as unforeseen circumstances can leave a family crippled with liabilities and debt.
Imagine the breadwinner were taken out of the picture, do you think it will jeopardise your family’s income ?
Your standard of living will be affected. With adequate protection coverage, you can ensure that your loved ones can live the life you have planned for them if you are taken away unexpectedly.
A disability protection income provides financial benefits in the event of sickness or injury that hinders the ability to work. It acts as a substitute of a loss of income due to any unforeseen circumstances. As a sole breadwinner, if you are unable to work it will ease your financial loss however it will not replace your total income.
Most people don’t like to contemplate what would happen if they were diagnosed with a critical illness, but not considering the future could mean that, should you survive such a catastrophic event, you may not have the financial cushion you need for everyday life.
A critical illness coverage helps provide protection from a variety of covered conditions (such as cancer, stroke, etc.), so you can focus on getting better.
Irregardless of your age, gender, occupation risk, healthy or fit you are, a serious accident can change your life significantly.
Comprehensive accident coverage ensure peace of mind by taking care of the financial implications.
No one wants or plans to get sick or hurt, but sadly we do. The importance of having comprehensive hospitalisation coverage in place is crucial to ensure that all eventualities are covered to minimise financial burden. You may be healthy now, but the onset of a traumatic event or a critical illness can leave you with staggering medical bills. Soaring medical bills mean less money in their pockets and forces hard choices about balancing food, rent and needed care.
Every parent’s dream is to see their kids excel both academically and professionally. However, with the ever-rising cost of tuition, personal savings alone may not be enough to adequately cover the cost of a higher education. As such, most parents have to cut corners; some even have to go to the extent of downgrading their house or work longer hours.To prevent such financial burden, parents should start putting aside a portion of their income as early as possible. Funding your children’s education is certainly one of the greatest single investments you can make for their future.
Retirement can be one of the best and most enjoyable periods of your life; if you plan ahead. Ideally you should start setting aside something for retirement in your early 20s once you start earning paychecks. That’s because the sooner you begin savings, the more time your money has to grow. Everyone would love to retire one day because after working for 20 over years, you just want to relax and enjoy your remaining years with your loved ones.
Here at TAQWA we believed that once you have your wealth protected, the next step is to accumulate your wealth. Accumulating your wealth can be rewarding provided you save through a proper channel and knowing what are the exact reasons for. We provide traditional saving solutions as well as those in the form of investments. We understand that the fund allocation may be a concern to some therefore we have financial instrument to cater for everyone.
As you work on building your wealth, you’ll want to protect your hard-earned worth against unforeseen events and inevitabilities such as rising taxes, income disruptions and inflation.
After all your successes in life, it is important to ensure that your are able to protect your assets through the tests of time. Using the right wealth strategies to give an all-encompassing solution, you can ensure that your valuable assets are retained for future generations in the most financially prudent and effective way.