Working couple

You have just said "I do" and your life has changed forever. Now, you are not alone but carry the added responsibility of your spouse. You may soon have other plans, such as to start a family.

As your responsibilities grow, so do your insurance needs. At this lifestage, it is very important to be adequately insured.

Why?

• As a working couple, you have comfortable cash flows. This is the best time to begin planning your life goals. You could classify your goals as short term goals (such as holidays abroad or buying a car) or medium term (such as purchasing a house) or long term (such as building a corpus for your retirement years). Purchasing a suitable insurance plan at this stage of your life will help give you access to the funds, without putting a strain on your cash flows.
• You are starting out on a new life together. While money cannot buy happiness, it can certainly ensure that you enjoy the basic needs of life and more. Purchasing the correct insurance products can ensure that you Protect your income against a sudden disability, illness, accident or injury etc., that could temporarily or permanently impair your earning capacity
• While nothing can compensate one for the loss of a spouse, purchasing term insurance can mitigate the financial loss that ensue the demise of an earning spouse. The potential benefit from a term plan far outweighs its reasonable cost.
• If you have taken a housing/ car loan or have credit card dues, you can protect your dependents, from these outstanding liabilities in the case of a mishap.
• Although sickness and accidents are the furthest from your mind at this rosy stage of your life, early adulthood is the best time to begin purchasing medical insurance. The earlier you buy a health insurance plan, the more likely you are to have a comprehensive cover. An unexpected illness or accident could set you back to square one at this stage of your life.