Wednesday, January 20, 2010

Protect your health and have adequate insurance coverage

Make sure you protect your health and have enough insurance coverage before thinking of achieving financial freedom.

There is a saying, "If you have $1,000,000, your health is represented as the first digit '1'. So without the health, you are left with 6 zeros or simply nothing at all."

Health is the most important asset in your life. Without health, even you have all the money in the world, it will mean nothing. However I have seen people putting their work as their top priority. They normally work very late, have irregular meal hours and eat unhealthily. In my opinion, they are risking their health, and if happen that their health is gone, they are going to suffer for the rest of their lives.

Other than protecting your health, you must also buy adequate insurance for yourself and for your family. In life, we will not know what mishap may happen to us. Buying insurance is one way to protect you and your family financially in case something bad happen.

As for me, I am spending about S$5000 on insurance annually. Below is the list of Insurance Coverage for me and my family:
1) Loss of Life
2) Total & Perm Disability
3) Critical Illness
4) Hospital Reimbursement
5) Hospital Income per Day
6) Partial Disability
7) Medical Reimbursement
8) Weekly Indemnity

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