LIFE INSURANCE PLANNING
No matter what stage of your life you are at, LIC is there to hand hold you not only through your needs of risk cover, but more importantly LIC makes sure you live well today, even as you save for tomorrow.
Stage 1: The Starting-out years: (25 – 30yrs)
Things that happen at this stage:
- Since this the first time Stage of your adult life, you have nothing or little saved and it is a virtual certainty that you have done no serious financial planning for your future.
- This is the time you get your first serious job, get married and have children.
- By the time you move this stage, you have gained knowledge about budgeting, saving and investing your money.
Potential trouble Spots:
- You started out with next-to-nothing and you must buy everything-car, house, furniture, furnishings and more. This is the stage when you must gain the discipline to spend less and save more.
- If you are not careful, you can pile up debts so fast at this stage that you never regain your financial footing.