If you are experienced talent, you probably think that planning insurance for family is easy to handle. However, without assistances from the professional guide, most of us know nothing how to manage and buy it properly, or you have to encounter the situation that the choices you buy more, the choices you will lose more. So it isn’t easy for a single person, it will definitely require more challenges for a family, especially for a big family with four members. You would wonder how to do it and what’s kind of insurance for a family and children? Now we would like to brief a general guide for you as reference when buying insurances.
Calculate the family member
If there are two people with two children in a family, the insurance group below could be like this, it is generally recommended that as the family is a small population, the sum insured you apply are supposed to be at least five times more than the family's annual income, in this way can you effectively reduce the economic burden and financial loss of the family in facing the risk of accidents and illness, and prevent your family from becoming poor because of illness or other unexpected accidental crisis.
If husband and wife are the mainstay of family, the daily cost of family relies heavily on the income of parents to pay the bill and support the family, so you need to calculate the members and then select proper insurances to meet your family needs.
Proper Insurance portfolios
For a family with four people, it requires you to do lots of homework before buy the insurance under the limited budget.
As the parents are only income source of the family, so the parents must be insured and must be fully insured. If any accident or working-loss happens to you or your partner, at least you have a little financial support from the insurance benefit to help you through the difficult situation for a while.
So the insurances for parents are available such as life insurance, health care insurance, serious illness insurance and unemployment insurance.
Then you are able to arrange the insurance of education and health care for your kids. Currently the cost of education and illness for kids are higher than parents before. It is necessary to consider this kind of insurance for children, you cannot ignore how it important to you and your family.
The insurance for children is recommended as follows, accident insurance, serious illness insurance, life insurance and health insurance, which can be used to increase medical expenses and can also be used for education costs.
Children are eyes of apple of the parents and supposed to be provided with adequate insurances, which will cover the burden and reduce the losses caused by the risks for the poor parents.
Therefore, when your financial are abundant and want to provide more protections for families, you could also consider other insurance options too.
Whatever the cost you have paid for the insurances, one thing you should keep in mind that the insured amount are at least four or five times the family income, it would give you great assistances during the difficult conditions if any, it is the most important to plan the insurance and pick up a proper combination, as the insurances you choose are probably your life-saving straw in a hard-time.