WHAT IS LIFE INSURANCE?
Is truly a irresponsible act of an individual who don’t protect their Risk ahead of them.
BREAKING DOWN Life Insurance
The purpose of life insurance is to provide financial protection to surviving dependents after the death of an insured. It is essential for applicants to analyze their financial situation and determine the standard of living needed for their surviving dependents before purchasing a life insurance policy. Life insurance agents or brokers are instrumental in assessing needs and establishing the type of life insurance most suitable to address those needs. Several life insurance channels are available including whole life, term life, universal life and variable universal life (VUL) policies. It is prudent to re-evaluate life insurance needs annually, or after significant life events like marriage, divorce, the birth or adoption of a child and major purchases, like a house.
EXECUTE WEALTH CREATION CORRECTLY; IT WILL PAY YOUR INSURANCE PREMIUM EACH YEAR.
Wealth Management Model
The Wealth Management Model is designed and structured to optimise your IGA Portfolio. Its main objectives are to ensure that you are able to
– Optimise the returns of your IGA Portfolio to achieve your financial objectives
– Construct an IGA Portfolio that can withstand shocks and still give you a decent rate of return on your capital
– Fund the various financial goals and objectives at the different checkpoints along your timeline
– Manage your IGA Portfolio systematically and objectively.
If you ignore or neglect this important part of the financial management model, all that you have accumulated may be wiped out in a single independent crisis or event. Wealth accumulation without wealth management is malpractice. It is only a matter of time that you will come face to face with financial calamity. Remember, there will be economic cycles and market cycles as well as there are risk exposures in many different dimensions. It may just take a single event to bring you to your knees.
I will share more of my ideas and show you clear direction on how you can get out of poverty and get your next generation of loved ones a success journey…..BUT IT MUST BE YOU TAKING FIRST STEP AT THE RIGHT DIRECTION!!
Article by: Sharon – CEO of D’Parlei Marketing & Services, Finwaze Philippine Financial Education and a Financial Adviser to Sunlife.