Part 8/9:
- Multi-purpose coverage: Combining death, disability, and critical illness benefits to optimize protection.
Avoid paying for overlapping coverage or policies that cover the same conditions repeatedly, which could lead to unnecessary expenses, especially since claims can be limited to one per condition.
Tailoring Coverage to Your Life
Everyone's circumstances differ. For individuals without dependents, extensive life or critical illness coverage might be less necessary. Conversely, those with dependents or significant financial obligations should aim for higher coverage.
Regularly review and adjust your insurance portfolio—especially with major life changes such as marriage, childbirth, or home ownership—to ensure adequate protection without overspending.