Pre Wedding Financial Planning
Pre wedding financial planning focuses on building a safety net for the couple to mitigate financial risk that arises due to health related matters such as early stage or major cancers, hospitalisation bill or premature death of either party.
Identifying your priorities
Insuring the wedding vows
It is not about how much you need, but how much your family needs it when you aren’t here.
If there is anyone dependent on you, like your spouse or children or parents, then this is what you will need. This equates responsibility.
A safety net for hospital bills
The amazing part about hospital bills are, you won’t know how much it is until you are discharged. Hospital bills are known to have a high ceiling when it comes to complicated condition. You won’t need to bother about how much your bills are when you are covered for hospital stay. Hospitalisation plans are largely paid using your Medisave. It is one of the most affordable form of insurance.
Against the unforeseen accident
Accidents happen without any prior appointments. Some accidents came and leave you out of your job for a few days. Some came and made you handicapped permanently. For as Low as $15 per month, you can be covered for your financial losses incurred from the accidents.
A fund for major illnesses
It’s is better to have a critical illness plan 10 years early then 1 day late. The prerequisite to have a critical illness plan is you need to be healthy. Any pre existing conditions you have may prevent insurers from offering you any critical illness plans permanently. So it’s not really about the money, it’s about getting yourself insured when you are healthy.