Retirement does not always equate to having financial stability. A few possible circumstances that leaves you in this kind of situation are:
Providing financial support for an aging family member or children who are still living at home
If you find yourself in debt or responsible for someone’s well-being, then the short answer to the question is, “YES” you need life insurance even after retirement.
HOW MUCH INSURANCE DO I NEED?
It’s important to evaluate where you stand financially upon retirement. How much are your monthly expenses? Are there federal or state taxes that need to be paid? There are also things like probate costs, administration costs; there might be final debt or a mortgage on house, too. So as long as there is some type of financial exposure, you need life insurance to match up with that.
CAN I STILL GET INSURED AFTER RETIREMENT?
Yes. Of course, premiums will be higher which is why it’s advisable to get life insurance cover as early as your 20s or 30s. The greatest value of life insurance after retirement is that surviving family members or your spouse is left with financial security after the insurance holder’s death.
WHAT OTHER BENEFITS ARE THERE IN GETTING INSURANCE AFTER RETIREMENT?
Other benefits is that you can use the sum to help you pay for medical expenses–this is if you feel that you will no longer need the death benefit. This is called the accelerated death benefit provision. You have the option of choosing permanent life insurance to have money safely tucked away with zero risks.
You may also need to think about getting health insurance since more seniors are prone to health complications–thus more spend on medical needs. Although Hong Kong has a wonderful healthcare system, retirement will most likely lead to more trips to the hospital and getting more prescription drugs to maintain your health.
Ask us about more details on life insurance or health insurance or email us at email@example.com.
Prostate cancer is among the most common cancers affecting men. In Hong Kong, it’s the fifth most common cancer with over 1,600 new cases every year and is the 3rd most common type of cancer among men in Hong Kong.
The prostate is a gland that’s only found in men. It’s usually the size of a walnut, and is located below the bladder, surrounding the first part of the urethra, which allows urine to pass from the bladder to the penis. The prostate produces semen, a thick white fluid that mixes with the sperm produced by the testes. It also produces a protein called prostate specific antigen (PSA), which turns the semen into liquid. Prostate cancer is generally a slow-growing cancer, typically occurring in men over the age of 50. Research shows that over a third of men over 50 have some cancer cells in the prostate, while almost all men over 80 have some cells. The cause of prostate cancer is unknown, but generally the chance is increased if there is a positive family history; it is also more common in Western men.
The symptoms of prostate cancer include:
- reduced flow of urine
- increased frequency in urination
- uncomforatble urination
- persistent pain in lower back, hips and thighs
- in some cases, bloody urine.
The diagnosis of prostate cancer may include a digital rectal examination (DRE) by a doctor. Digital here is different to the “digital” in electronic equipment. Apart from DRE, PSA can be tested in blood to detect the presence of prostate cancer. However, PSA alone is not very accurate in diagnosing cancer.
It is important to have one’s self examined once you hit 40. Village Insurance’s best practice for recommending covers for males is to find insurance that also covers diseases such as prostate cancer. Insurance can cover treatment and maintenance for cancer.
We can help find the best global insurance for expats in Hong Kong. Get in touch with us for any inquiries. We’re always quick to revert.
The threat to cyber security has increased over the past 10 years. Businesses have paid large sums to recover files and systems which all could have been avoided if we only treat cyberattacks as a big possibility. Here are the numbers on cyber attacks on global businesses.
Ask us how we can help your business with the proper insurance cover.
Companies or organizations that send their employees overseas for business have two options when it comes to Travel Insurance.
First option is to have insurance as an add-on to their tickets. These come as individual cover for each person. The second option is to get Corporate Travel Insurance that protects your employees as a group.
Why is this insurance necessary?
The question should actually focus on WHEN you need this type of travel insurance. With the numerous claims we’have helped our clients with in recent years, Corporate Travel Insurance becomes crucial when employees are being sent to high-risk places. For instance, non-profit organizations that provide volunteer services to countries with epidemics or ongoing national conflict are considered high-risk.
This insurance is also a more cost-effective means of protecting your company from extra expenses incurred by your staff during the travel period. If it’s a big group, there are policies that offer protection based on headcount instead of specific names (usually for groups of 5 or more).
What does Corporate Travel Insurance Cover?
Providers offer a wide range of options for different needs. We help expat companies in Hong Kong make arrangements for their staff. Below is a list of common policy benefits for Corporate Travel Insurance:
- Cover for events resulting from any terrorist attack, including the use of biological, chemical and nuclear weapons
- Cover for all journeys of less than 120 days
- War Zone coverage (optional with added premium)
- Cover for a company’s regional or worldwide offices can be arranged, if permitted by local laws
- Personal deviation up to 31 days
- Medical expenses
- Legal expenses
- Travel or baggage delay
- Flight delay
- Emergency travel of family & friends
- Personal Liability
- Loss of personal money or documents
- Accidental Death
Leisure travel may also be covered if it coincides with your business travel dates.
For a quotation on insurance, you may Contact Us here.