Live for the present, but prepare for the unexpected. Events like illness, disability, accidents, or even premature death can derail even the best-laid plans.
That’s why having enough protection for yourself and your loved ones is crucial.
It gives you financial security and peace of mind, so you can focus on your goals without unnecessary worry.
Rules of Thumb
Rules of Thumb
- Start early and top up when needs change
- Spend no more than 15% of your take-home pay on protection
- Cover 9x annual income for death and total permanent disability
- Cover 4x annual income for critical illness
APPROACHING THIS HABIT
Start from your first paycheck
With different plans from DBS to suit different budgets,
you don’t have to wait to obtain protection.
Just tap in to digibank to explore your choices.
Aim to cover every angle
Get broad coverage in 6 key areas: life, health, critical illness, mortgage, disability, and general protection.
Review and top up
Your life changes as you get married, buy a home and
start a family. So do your protection needs.
Start by linking your insurance providers on digibank.
You can then easily review and spot gaps to enhance your coverage.
Ideas to Protect
Life can surprise us. That’s why we recommend getting protection against unexpected expenses in 6 key areas.
To get you started, we’ve brought together a selection of solutions. Click the tiles below to learn more.
Protection is a long-term commitment, so it’s good to talk to an expert.
Simply reach out to your personal Wealth Planning Manager who will be glad to guide you!
Don’t forget to check out other Money Habits in the meantime.
