How Much Insurance Is Required? (Part 2)

You can read part 1 of this article here. Scenario Using the earlier case study: Dan, a sole breadwinner, male, age 40, non-smoker, with a family of two children, working as a sales manager in an MNC and earning an annual income of $200,000. Assuming that this is Dan’s financial situation: Family income required: $120,000 […]

How Much Insurance Is Required? (Part 1)

You can read chapter 3 of our eBook here. Understanding the amount of coverage that you need can be tricky as different individuals may approach the coverage calculation (sum assured needed) differently. However, there is no right or wrong way to any of the methods. In this chapter, we have identified a few common methods […]

Duration of Insurance Required (Part 2)

You can read chapter 3, part 1 of our eBook here. Lifetime Coverage When do you need permanent insurance coverage that covers you for a lifetime? If there is a continuous risk tendency throughout your lifetime, it is advisable to keep this area protected for life. This risk is often associated with financial impact risk, […]

Duration of Insurance Required (Part 1)

You can read chapter 2 of our eBook here. Insurance Planning Methodology: Duration In the previous chapter, we explained the different risks involved and discerned which risk should be transferred to insurance. Moving on, understanding more about the duration required to cover these risks is an important aspect as often individuals may underestimate this area […]

Key Risks for Consideration (Part 2)

This article is a continuation of Part 1. As we review the several types of life crisis events, we identify the five core areas of risk to transfer that are crucial to addressing these concerns. These risks persist consistently, enduring through changes in products over time. In Havend’s guideline of insurance planning, we cover five […]

Key Risks for Consideration (Part 1)

You can read chapter 1 of our eBook here. Insurance Planning Framework – Types of Losses It is crucial to comprehend the various types of losses that may occur in the event of a life crisis. In our insurance planning framework, we specifically focus on addressing the fundamental core insurance needs to which you are […]

Havend’s Philosophy & The Purpose of Insurance (Part 2)

This article is a continuation of Part 1. There are several types of risks in a life crisis event that insurance covers. Let us have a look at what types of risk we can transfer to life insurance: Figure 2: Types of Life Risks The longevity risk type will not be covered in this eBook, […]

Havend’s Philosophy & The Purpose of Insurance  (Part 1)

Philosophy Having a robust philosophy is of great importance as it guides us to set forth a belief, a doctrine, a framework, and a guideline to put into practice when it comes to insurance planning. It provides the groundwork for the commencement of proper insurance planning and implementation. A robust philosophy also sets a consistent […]

Navigating the World of Financial Products for Your Newborn

Finally, your baby has arrived. After nine months of anxious waiting, the climax at the delivery ward is awesome, especially for first-time parents. Before long from basking in your bundle of joy, two things are almost certain – many years of sleepless nights and a myriad of financial products for your newborn vying for your […]

Estate Duty and Insurance: Debunking the Whole Life Plan Myth

Life insurance is meant mainly to protect us against loss of income due to death, disability and a medical crisis. It is also meant to provide us with sufficient resources to pay for medical expenses. We do not need insurance anymore if we no longer have these needs. When we do not or no longer […]