Insurance Plans to Help Start Your Married Life with Ease

When taking up an insurance plan, you can nominate who you would like to receive the benefits or proceeds from it. The person you nominate is called the "beneficiary" of your policy.

Yes. For life insurance policies, you can generally name more than one beneficiary if you wish, but always read through the policy documents carefully as some policies may have exceptions.

For other types of insurance, such as medical, hospitalization or accident coverage, payment is usually made to the person insured by the policy.

With many life insurance policies, you can specify how much each beneficiary will receive. This can be done when you take up the policy, and can be adjusted at any time throughout the term of the policy.

For example, you could split the proceeds, also known as ""benefit"", equally between two beneficiaries. Or you could give one beneficiary 40% and the other 60%. Or 90% and 10% respectively. It's up to you.

Paying for the wedding, the honeymoon, moving into a new home, raising kids - there's a lot to save for and sometimes it may feel like the most expensive life stage is always the one you’re in.

What to do

Everybody's needs and financial goals differ, so it's always best to talk it through with your financial advisor. In general, it's good to have a small amount set aside which you can access easily, while you use the rest to build a diversified portfolio over time.

The first step: get insured

Once you have a small emergency fund set aside, get yourself some insurance to protect against unforeseen medical expenses, accidents or disability. If you ever need to make a claim, this could be the best investment you ever made.

And then, invest

Now you can look to grow your money. If you'd like to keep your assets liquid (meaning you can access them quickly, rather than having money tied up in, say, a mortgage or long-term savings plan), you may want to look at mutual funds, which offer access to professionally managed, diversified portfolios made up of equities, bonds or other securities. Find out more about our award-winning mutual funds.

Congratulations! Having a baby is a wonderful new milestone in your lives, but as your parents probably told you when you were young: kids aren't cheap.

Not to worry! We have a whole section dedicated to people who, like you, are looking to start a family, complete with all the information you need to get yourself prepared.

Your risk profile goes a long way towards determining which kind of investments suits you best. Before embarking on your investment journey, it's always best to consult a fully qualified financial advisor who can make recommendations based on your unique circumstances and financial goals.

If you'd like to get a general idea of your risk appetite before you meet with an advisor, you can also fill out our short Risk Profile Questionnaire.