The thought of “what would happen if” doesn’t always come to our minds. Most of us live in the moment and worry about the next day, and repeat. What would happen if your life takes a turn that is not expected? Would you be financially prepared to take care of all costs?
What would happen if you …?
Divorce
None of us wish for it, but it is something we should keep in the back of our minds. Finding a new place on your own is not easy and many costs come into play. Getting a lawyer and deciding on a settlement is also very expensive. To add to that, if you have kids, they also need the same amount of care and future planning, except this time it is on just a single income.
A Financial Advisor can help guide you to the right path for things such as:
- Paying off your part of debt
- Establish your own credit
- Build savings
- Provide life insurance
Get Very Ill
Critical illness is one of the unpredictable things we don’t think about until we hear the bad news. If critical illness does happen, it will have a major impact on your life, career, your loved ones, and future.
If you are diagnosed with a serious illness, your focus should be on a prompt recovery. Treating an illness often includes unexpected costs, from medicine the government doesn’t cover to taking a break from your job in order to receive treatment. All these unexpected costs will affect the bottom line and the financial wellbeing of yourself and potentially your family. You should consider having Critical Illness Insurance as the solution to an unplanned financial burden.
Think Ahead
These are just some of the real-life examples that families and individuals encounter every day. Your best solution is to be aware of your options and consequences at all times. Take a deep look at your current finances and ask yourself these two questions:
- What would happen tomorrow if something tragic happens to me?
- Am I, or is my family financially ready to cover the costs?
If you are not satisfied with the answers you were forced to provide to the questions above, take precaution and ensure your loved ones are not going to suffer the costs for you.
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