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I have always wondered how much insurance is enough?
When I was retrenched, insurance became the biggest liability. The biggest joke is that, it only protects the rich and not the poor.
But now, I do use insurance as a form of wealth generation as well as protection.
I also plan ahead for insurance needs when I have no income during retirement.
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Hello, the general rule for life insurance / TPD is to replace 10 years of your income or household expenses. for CI, the period of recovery from a critical illness is 5 years on average so you can use that as a benchmark. for ECI, at least 2 years’ worth of your income. you can assess what you deemed to be enough! you can try out this insurance calculator to see if your coverage is enough.
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Ngooi Zhi Cheng
13 Nov 2024
Student Ambassador 2020/21 at Seedly
The question of "how much insurance is enough" hits close to home for me. When my parents were hi...
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I find myself asking the same question and i still dunno the answer.