Navigating Long-Term Care: Key Challenges & Financial Risk Mitigation Strategies (Part 2)
In Part 2 of our article on long-term care planning, we delve into the key challenges faced by primary caregivers and effective strategies for mitigating financial risks linked to severe disabilities. Caregiving is an emotionally and physically demanding journey, often leading to stress, burnout, and financial strain. We explore the financial implications of caregiving, including the costs of care, healthcare inflation, and the impact of reduced income. Discover three essential financing options—government insurance, personal insurance, and personal assets—that can help secure your financial future. With expert insights from Havend, learn how to navigate these challenges and protect yourself and your loved ones from the emotional and financial burdens of long-term care.
Term Insurance: What Happens If You Outlive It?
Discover what happens if you outlive your term insurance policy. Learn why reaching this milestone can signify successful financial planning, and explore essential steps to ensure your retirement is secure without the need for permanent life insurance.
Top 2 Reasons to Purchase Life Insurance While You’re Young
When considering life insurance, buying young offers distinct advantages. Younger buyers typically enjoy lower premiums due to lower risk factors, and it’s easier to secure coverage when you’re in good health. As life evolves, having a policy in place provides financial security for dependents, covers debts, and ensures peace of mind. Starting your protection journey early can help safeguard your financial future against unexpected challenges.
Universal Life Insurance: Does It Boost Your Retirement?
Wealth transfer to children and even through multiple generations is one of the key concerns among affluent and high-net-worth individuals. The reasons are understandable: to be good stewards of wealth, whether built or received and to give their children better opportunities in life. Often, such transfer-of-wealth planning commonly known as legacy planning, typically involves the […]
Understanding the Trend: Decrease in Private Hospital Insurance Demand
The recent news of fewer individuals opting for private hospital insurance plans, coupled with a growing number of older adults abandoning such coverage altogether, underscores a significant shift in healthcare preferences and financial decisions.
Is Employer-Provided Life Insurance Enough? 3 Limitations You Need To Know
Employee group insurance, a key perk offered by employers, provides a range of coverages including life insurance, critical illness protection, and more. While these benefits can seem comprehensive, relying solely on employer-provided insurance has significant limitations. This article explores these limitations and highlights why securing your own personal insurance policy is crucial for continuous, tailored, and reliable protection. Discover the advantages of personalised coverage, dedicated service, and ensuring your insurability to navigate life’s uncertainties with confidence.
A Complete Guide to Investment-Linked Policies (ILPs)
You can read chapter 4 of our eBook here. Investment-Linked Policies (ILPs) The world of ILPs has constantly evolved, and many insurers have launched numerous ILP products in recent years. The Havend team is constantly conducting research to gain a better understanding of these products. In recent years, insurance companies have created different types of […]
Term vs. Whole Life Insurance: Key Differences
You can read chapter 4 of our eBook here. There are various types of insurance policies in the market. Typically, the common three types of insurance policies provide life, total and permanent disability (TPD), and critical illness coverages as listed here: Term life policies Whole life policies Protection-based investment-linked policies (ILPs) 1. Term Life […]
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 […]
