People readily insure assets such as their home and car, but they often overlook the need to insure their most valuable asset, themselves.

No matter how comprehensive and successful your investment plan may be, the most important asset you and your family have is your health. Without it, you lose your ability to provide for yourself and your family on a day-to-day basis, let alone achieve your long-term financial goals. Being injured or dying prematurely are subjects we would prefer to keep at the back of our minds. Having adequate personal insurance, you can concentrate on living, knowing that if the worst happens, you and your future family will be protected.

The following are the major types of personal insurance:

• Term Life: Provides a lump sum payout upon your death or total permanent disability 
• Income Protection: Provides up to 75% of income if unable to work due to illness or injury
• Trauma: Provides a lump sum benefit on diagnosis of specified critical illnesses, such as heart attack, cancer, stroke or loss of independent existence