Disposable Income vs Commitments

As an independent financial adviser (IFA), we have position and play a unique role in serving our clients. We represent your interest - helping our prospects and clients to create money in the event of unforeseen circumstances through the use of Life Insurance plans obtained from various financial institutions. No other financial products is able to provide this "instant" money for you and your family in this situation.

In cash-value life plans, we are able to provide various type of returns. Some are guaranteed, traditional (projected) or investment (ILP) returns. We can help you organise your plans according to your risk tolerance. This can be done through our wide scope of products available to us from various financial instruments. There are plans that can be funded by cash or CPF.

There are also "Investment" that do not linked to life insurance coverage. You can invest into Unit-Trust funds.

This are important considerations when building up your protection, saving and retirement funds.

The followings are some advantages when doing your annual review of your existing policies.

Most importantly, you also need an adviser that is able to access to "wider product solutions" from various institutions to guide you in the review process.

Change In Life’s Responsibilities

The picture on the right shows the stages of responsibilities during one lifetime, starting from graduation to retirement. As our responsibilities increase, the gap between disposal income and commitments likewise will widen. We need to narrow this gap at the various stages of our lives whenever possible and life insurance programs is a way to provide funds for children’s education, retirement needs, etc.

Change In Financial Status

Due to our insatiable needs, we tend to spend the excess funds from a job promotion, or even retrenchment benefits on tangible items like cars, travel, and new set of hi-fi systems but neglect the intangibles. One important question that has evaded many a mind: “What financial means do I have if someone in my family (including myself) is down with a major illness now?” When such unforeseen circumstances happen, can the liabilities on the mortgage be repaid, the children’s education fees, and the living expenses be met? Changes in one’s financial status inevitable changes one’s standard of living and only an up-to-date- financial program can meet such financial responsibilities.

Change In the Nature Of Job

Just as ship and aircraft change courses based on the direction of wind, so you must be prepared to change direction in your life. Set a new and existing course of action. It does not matter which way the wind blows as long as you are willing to adjust. by Gerald PR Sacks

It is always a Financial Adviser’s duty to inform his/her clients the need to review their coverage when there is a change in the nature of job to a riskier one like in the Building and Construction sector, Electrical industry, and Metal industry. Nowadays, many need to do "work-travel" abroad and this have increased risk.

Introduction Of New Products

One of our services rendered to clients is to update them with information on the new products launched by the various Principal companies. The knowledge shared enables our clients to keep in touch with the insurance industry and gives them an opportunity to upgrade their coverage whenever necessary. The latest program tend to be more innovative and come with more options. At time, this new product is not make known to you if your adviser's company do not market this product.

Change In Health Condition

Whenever there is a pre-existing medical condition, the premium increases in proportion to the risk exposure that the insurance company is willing to adsorb. When one's health condition deteriorates, the need for extra coverage inevitably increases. During a review session, this is highlighted to our clients so that they understand the changes that take place.

For reasons mentioned above, it becomes pertinent that one should re-look or review one's life insurance plans at least once a year.

You can get MAA Independent adviser to review your plans.
Call MAA at 96754621 or email your concern.