Family Income Protection

So what is Family Income Protection ? How to calculate how much cover you need ?

Family income protection is about providing adequate income for your dependents in the unfortunate event of your unexpected death, total loss of income, temporary or permanent inability to work.

The main requirement is to ensure that debts and other cost are catered for. If you have dependants , then you need to provide an amount for your family that will make them able to continue their current lifestyle.

It is important to ensure that you and your family are financially prepared should the unexpected happens to you, especially when you have heavy financial commitments. 

Now, you can secure your family's future against uncertainties with the right insurance plans. 

Death or permanent disability of the income earner can have severe financial consequences depending on your life stage. ( See our personalised financial planning according to your Life Stage ) = > Life Stage Financial Planning

How To Calculate How Much Cover You Need ?

There are many theories out there provided by differant advisors from differant

companies. The simplest way is by using your monthly or yearly income.

To determine the amount involved to calculate your Family Income Protection Needs,

4 Steps are needed.

1. ascertain amount of your total liabilities 
2. ascertain immediate expenses required 
3. ascertain the amount needed to provide for your dependants for as long as required using the multiple or needs approach.
4. sum up the amounts in steps 1 to 3 and arrive at a final required amount 

You also need to ensure that you have 3-6 months of reserve for emergency expenses before embarking on any financial plan.

Let us help you how to determine the shortfall. 

To make it simple, if you earn $2000 per month or 24k a year, then the minimum amount of basic cover or income protection you should have is 10 times your yearly income,

which is = $240,000.

Ideally it should be the number of years that you are required to support your family , eg. up to your retirement age.

So if you are 40 yrs old now and are expected to retire at 62 - then you need to protect 22 yrs of your expected income. 22 (no. of yrs to retirement) x 24k ( annual income)

= $528,000.

We know what's going through your mind now. That its going to cost you a bomb getting a plan that can cover you for half a mllion , right ?

Well , here's the good news. We will show you : 

• How to get a Term plan with 300k of coverage for Death, Critical Illness, TPD Terminal Illness for under $80pm!  
• How about Mortgage Insurance for 300k, 25 yr term for under $50pm? 
• How to get the best limited payment whole life plan – pay only for 25 yrs but get covered for your whole life , with an annuity payment option?

With our in-house research team , we are able to source for our clients the best , most value for money plan that will suit your needs , objectives and more importantly your budget.

Visit our website here regularly to receive the latest news and updates on the : 

• the best term plans 
• the best whole life plans 
• the best limited payment plans 
• the best endowment plans 

Check our Life Insurance Comparisons Page for details

Which one do you need?  What can you do without?  What is the ideal amount of cover you need?  What plan is best for your family?

Our partnership with many well-known Insurance Houses like TM Asia Life, Aviva, AXA , UOB Life, Manulife, AIA , HSBC Insurance, NTUC Income, Zurich Insurance, and Transamerica Life Insurance, ensuring that you have the choice of insurance plans that will suit your needs.

You are not restricted to a single insurance company product. Instead you are offered a wide variety of choices from 10 Life Insurance companies we represent.

We can help to uncover all your Insurance Planning Needs through our FREE Financial Planning Clinic and FREE comprehensive financial planning reports. We will help you to get the right plans that is specifically tailored to your needs and budget.

We want to help you make financial planning as easy as 123.

So contact us now by email at   and we will help you to plan and shop for the best package in the market!