Is A Financial Health Check-up Needed?

Time flies and in a flash, we are already closing on the first quarter of the year. With Spring’s celebrations and festivities behind us, it is an opportune time to take a quick check on our financial health. Some of you may be wondering if there is a need to do so on a regular basis, especially for those who are young and healthy, or starting out on your career, or some of you that have already purchased your basic insurance policies.

My personal experience as a financial planner

Drawing from my 20 years of experience in this industry, I have seen first-hand how important it is to assess our financial health regularly, especially since our life stages, income and needs change over time. Just like a physical check-up, a financial health check-up helps to identify our financial gaps and outline steps to achieve our financial goals to achieve our financial dreams. However, most of the time, we only see the value of life insurance when an insurance claim is made by our loved ones or close friends.

Back when I was a financial planner, I did some both living and death claims for my clients. It never fails to bring me great fulfilment when I saw the beneficiary’s joy and relief upon receiving the cheque for the insurance payout. One claim that I will always remember was about a businessman who had cancelled all his insurance policies due to an unexpected situation that left him short of funds. After some discussion, I finally convinced him to purchase a term plan with critical illness coverage for basic protection. Fast forward many years later, when he was diagnosed with cancer, the payout from the term plan was crucial in providing him and his family with the much needed financial assistance.

My personal belief is that the cornerstone of a good financial plan isn’t only about financial achievement; but one plan that is able to help you navigate through life, regardless of any life storms or disruptions, to align with your values and passions so that you and your loved ones can enjoy meaningful lives together.

Where do I start if a financial health check is needed?

I hope by now, you are more convinced with the importance of performing a financial health check regularly. You may choose to review your financial situation on your own or seek the help of a financial adviser. Either way, the aim is to determine if there is a need to restructure your existing insurance cover, and assess the needs for yourself and your family according to your budget, risk profile and time horizon.

If you are looking to consult an adviser, you are most welcome to engage any of our Financial Consultants. At Manulife Financial Advisers, our firm’s belief is that clients’ interest is the centre of what we do. We are a thriving firm that constantly improve ourselves to find the best possible ways to serve and empower our clients to maintain meaningful lifestyle.

With the firm belief that one size does not fit all, our team of dedicated Financial Consultants can can help to guide you through the financial planning process, by customising a solution for you and your loved ones, with careful selection from the wide range of products offered by our partners. Whether you are at the wealth accumulation, wealth preservation or wealth transfer stage, we will be able to provide you with solutions in a holistic approach that cater to your specific needs and financial objectives, including but not limited to the following:

  • Health insurance
  • Life insurance
  • Children education planning
  • Mortgage insurance
  • Retirement planning
  • Wealth management
  • Estate planning / structuring of trusts
  • Keyman insurance
  • Employee benefits
  • Business succession planning

If you would like to find out more, speak to us at 6807 2250 or send us an email at

From Sarah Soh,
Head of Product, Manulife Financial Advisers

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