Investment or insurance, which is better when it comes to being future-ready?

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Investment or insurance, which is better when it
comes to being future-ready?
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When it comes to managing personal finance, two
important factors need to be considered
investments and insurance. Investment is one way
to grow your savings (with the investors making
the right investment choices) insurance can help
protect your current income. Investment seems to
be an interesting topic to discuss for hours,
with its future benefits and the hope it brings
along. Investment and insurance both play an
important role in setting financial goals and
making your future ready. Here's why. Planning
future events with insurance We all know that
nothing is more important than good health and
the wellbeing of ourselves and our families.
However, life is not predictable. Keeping a
positive outlook towards life is essential but
ignoring the uncertainties of life is not the
best way to be future-ready. This is where
insurance plans become essential. In simple
words, insurance provides financial protection
against unforeseen events. When you buy the right
insurance plan, you protect yourself and your
family against adverse circumstances.
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The ways investment works for the future Rising
cost of living, property price, and prices of
basic amenities can be a hindrance to financial
growth. According to a CNBC article, there was a
9 rise in the cost of private housing and a 15
rise in the cost of public housing in Singapore
within the first quarter of 2020. As per another
article published by The Straits Times, Singapore
witnesses a third rise in fuel prices in three
weeks in October 2021. The aforementioned data
indicated that there is a steady rise in the cost
of living in Singapore. Investments can be a way
of increasing your passive income with the return
on investments to be received at the end of
maturity. However, smart investment choices are
imperative to achieving your financial goals.
Investments are necessary to stay ahead of rising
cost and keeping your future secured. What to
choose - Insurance or Investment? When it comes
to financial planning, striking the right balance
between investment and insurance is the key.
Insurance works as a protective net during the
occurrence of unfortunate events, and investments
accelerate future growth. With insurance and
investments going hand in hand, you will be able
to navigate the ebb and flow of life confidently.
The right choices of both insurance and
investment plans are important for a successful
financial planning.
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Investment-linked plans balancing the opposite
spectrums Investment-linked plans can be an
efficient way of balancing insurance and
investment. With investment-linked plans, a part
of the fund is reserved for insurance while the
rest is invested in specific investment funds of
your choice. This way, you will be able to have
the best of both worlds. Investment-linked plans
are safe bets when it comes to future-ready
investments. Both investment and insurance play
vital roles in achieving financial security and
helping you be future ready. If you are new to
investment, a good place to start with is
investment-linked plans.
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Thank You

• Original Source Investment or insurance, which
  is better when it comes to being future-ready?