When planning for you and your family's financial future, it's simple to figure out how much financial protection you need by answering the following three questions.
Is there any debt you would like to pay off if you were unable to work and earn a salary? If yes, how much?
What are your total monthly living expenses (including food, education, transport, healthcare, etc.)?
If you passed away or were unable to work, how long do you want to ensure your family's day-to-day living expenses are covered for, without them needing to use savings or investments?
Now, use your answers to complete the formula below and work out the amount of protection you need.
Protection amount = Total debts to pay off + (Monthly living expenses x Months of provision required)
This figure will give you an idea of the amount of life protection cover you should have in place to secure your family's future. To get a specific amount, you should review your current plan and get professional advice if needed.
We can help you review your current plan, define your protection needs and understand the differences between insurance products. You are welcome to set up an appointment with one of our relationship managers who can explain to you the various options available.
Global experts' advice to help you capture global investment opportunities and mitigate investment risks to meet your diversified investment and wealth management needs. Our investment products include: Structured products, Dual Currency Investment and Enhanced Yield Investment, Overseas Investment Plan, and Local Unit Trust and Hong Kong Mutual Recognition of Funds.
We take into account your protection needs at various life stages to help you find out suitable insurance plans, leveraging on our ability to offer a one-stop platform for your insurance needs.
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Although the above information is carefully written, the Bank does not warrant, state or guarantee the accuracy or completeness of the above information. The above information is not and should not be regarded as an offer or purchase invitation for any financial product, nor should it be viewed as an investment proposal.