Financial planning

BE PREPARED FOR EVERY EVENTUALITY

Nothing is guaranteed in life. Even with the best-laid plans, accidents and illness can strike when least expected. It makes sense to be financially covered if and when they do. In the unfortunate event of an accident or debilitating illness, or loss or damage to your personal possessions, you want to make sure that you and your family remain financially secure. Your IPPFA Adviser will give you sound financial advice at every stage of your journey.

Your personal financial adviser will assess your needs based on your current situation, your dependants, your assets and your existing coverage to make sure that, in the event of premature death, total and permanent disability, long-term medical illness, loss or theft, your family’s standard of living is not compromised.

Put into context with your overall financial plan, your IPPFA Adviser will recommend the right amount of life, health, home, car and possessions insurance, balanced with long-term savings and investments to help keep your loved ones protected while creating a substantial financial estate.

Retirement planning

IT’S NEVER TOO EARLY TO PLAN

Retirement may seem a far-off event, and planning for it can pose a challenge when life’s more immediate priorities demand your hard-earned cash. Add to that the impact of inflation on your accumulated savings, and what you have managed to save by the time you retire will not have the same spending power then as it does today. The reality is that most individuals are not planning adequately for their retirement, especially as people are living longer and could spend as much as half of their life in retirement.

CPF funds and corporate pensions are often insufficient to provide the retirement income needed for you to be able to maintain your present lifestyle indefinitely when you stop working. The earlier you start planning for your retirement, ideally as soon as you start working, the more wealth you will be able to accumulate to live out your golden years in comfort.

Your IPPFA Adviser will sit down with you and assess your current financial status, taking into account the passive income generated from your other investments and the kind of lifestyle that you want to lead in your golden years, and will recommend a plan to ensure that you stay on track to meeting retirement goals.

Health insurance

When you are healthy, it is not easy to appreciate the devastating impact that an accident and critical illness can have on your life and your family. In addition to the rising cost of medical treatments, consider the financial consequences of permanent or temporary loss of income due to the inability to work, should you be hospitalised. When you or any of your loved ones are ill, the last thing you want to be thinking about is your financial security.

Your IPP Adviser can help you put in place the necessary plans, now that you are healthy, to ensure that your medical expenses are taken care of should you need medical treatment down the road. Discuss the many options with your Adviser, who will consider any current healthcare coverage provided by your employer as well as your Medisave contributions and your Medishield Life policy before making any recommendations. You will find that most health insurance and personal accident policies will pay the expenses for medical treatment. Others may make regular cash payouts for each day you are not able to work or are hospitalised. Some might even pay for long-term nursing care and out-patient treatments as you make your recovery.