MAXIMISE YOUR MONEY
5-DAY CHALLENGE
SORTED MONEY MONTH
1 – 31 AUGUST 2023
Maximise your money in your 20s: 1 – 5 August
Day 4: Protect yourself and save on level premiums
While it’s essential to focus on building wealth, it’s equally important to protect what you have worked hard to achieve. Explore life and health insurance options that can safeguard your financial well-being in case of unexpected events.
Protect your financial well-being and save in the long run with this useful tip:
Save on level insurance premiums that don’t go up with age
Comprehensive health insurance coverage will protect you from high medical expenses, while disability insurance provides income replacement if you are unable to work due to an injury or illness.
Consider level premiums that don’t go up because of your age – it gives you certainty on cost when planning your future and could save you a fortune in the long run. Level premium life insurance is calculated according to your age on the date your cover starts and not as you grow older each year. While this may cost a little bit more in the beginning, it will save you over the longer term, often at the stage of life when you need it most. The earlier you lock in the level premium the greater your long-term savings may be.
Speak to a financial adviser about your options.
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