Family Financial Protection

There are things that happen in our lives that are unexpected.  As parents, we need to have some foresight in dealing with these unexpected events.  Perhaps one of the most difficult concerns to deal with when children are still young are financial difficulties brought on by illness and disability.  These years when your children are still dependent on you are considered to be critical years.  You have to make sure that they are provided for enough for them to continue living a good life until they are able to take care of themselves financially.

You can provide financial protection for your family with insurance products.  There are different types of insurance products that you can include in your portfolio.  The most inexpensive of these products are personal accident insurance and term insurance products.  The first one takes care of giving you financial support when you get injured or disabled in an accident.  The second one takes care of giving your family a cash benefit in case you pass away unexpectedly.

Other types of insurance products that you can avail of for your various contingency cash needs include: whole life insurance, endowment, variable unit life insurance, health and dental insurance, and annuities. You do not have to purchase all of these in one pop.  Careful planning and budgeting is necessary to put everything in place.  You have to make sure that your family protection portfolio meets your needs adequately.

Image courtesy of Stuart Miles /

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