Life Events and Milestones That Impact Your Insurance Needs

Our insurance needs evolve as we age and hit different life milestones. It is time to contact your insurance broker to discuss the right insurance solutions that meet your needs and aspirations, if you are affected by any of the following life events:

 

Marriage: Your insurance needs change as your marital status does. Marriage often results in buying a new house, vehicles, and other property, therefore it is necessary to adjust your insurance policy properly. Furthermore, life insurance is essential for married couples because it can help alleviate the financial burden in the event of a partner’s unexpected death.

 

New Home Ownership: Purchasing a new house is a significant investment that you will want to safeguard. After acquiring a property, make sure you have the right home insurance to cover things like fire, weather damage, theft, vandalism, and accidental damage.

 

Home Renovations: Once you own a property, you may want to make changes to improve your living area. Please notify your insurance company of any big home modifications to preserve the increased worth of your house.

 

Children:  Having children is a big life change and a major long-term financial commitment. As a result, it is critical to obtain the appropriate coverage to protect your children’s future. It is important to add your children as beneficiaries to your life insurance policies and ensure that the coverage is appropriate.

 

A New Job: A new employment opportunity usually results into an increased salary, which eventually leads to a family adjusting to a higher standard of living. If your income changes, it’s a good idea to examine your life insurance coverage to make sure your family can continue to thrive in the event of an untimely death.

 

Valuable Purchases: A standard home insurance has limited coverage for highly valuable items. Aside from insuring the building in which you live, you should also insure the items that are important to you. Home Contents Insurance can protect you against the loss or damage to household contents.

 

Starting a Business: Every business faces unique risks and challenges that come up during normal operations. As an entrepreneur, it is crucial that you have the best insurance in place to cater to your of industry specific needs.

 

Retirement: Retirement could be decades away or it could come right around the corner. No one can deny the importance of retirement planning. Consider life insurance, investments, and the fact that retirement planning is a personalised process.

Getting Older: As you age, the expense of healthcare rises along with your risk of developing a serious illness like cancer. Insurance against major illnesses is one way to protect yourself and your loved ones.

 

Insurance is essential for almost all life stages. People should actively seek coverage, and they should not assume that their insurance needs will never change.

 

As your life evolves, Moso Consulting Services can work with you to review where you are at financially and recommend changes to ensure your financial plan keeps up with your life.

 

No matter where you are in life, our consultants can help you understand which type of insurance you need to protect your family and financial wellbeing.

 

Moso Consulting Services can help you get insurance solutions that are designed to meet your unique needs:

Call us now on 011 768 6406 | Email: info@moso.co.za | Whatsapp: 066 351 6820

NB: The content of this article is NOT intended to provide financial advice to the subject matter. Specialist advice should be sought about your specific circumstances