How I built a life together with my college sweetheart

From college dating days to welcoming their second child, 35-year-old Augustus and his wife Xinyi can confidently say that there’s more to marriage than the wedding itself. As a husband and new father of two, Augustus shares how his priorities have changed over the years – from getting married, buying a house, starting a family, and who knows what’s next.

Growing up, I didn’t always get to enjoy all the luxuries in life but the one thing I never had to worry about was my next meal. I came from a middle-income household with parents who worked hard to provide for me and brother, while instilling in us the value of money. Yet despite this, I couldn’t help but wonder what I could get if I ‘had more money’.

With this line of thought, it’s hardly surprising that I spent my younger years being rather cynical towards insurance, especially after hearing my relatives call it a “blackhole that sucks up all your money”. After all, what’s the point of receiving so much money after you’re dead right?

From cynical to convinced

It was only after graduating from university that I started to consider insurance seriously. By then, Xinyi (my wife now) and I had been together for a few years and we were both looking forward to settling down and starting a family together. But the next question was, do we have enough?

I must admit, both of us were slightly concerned about the increasing cost of living in Singapore – the cost of the wedding, financing a house, paying for renovations, raising children, retirement, the list went on.

As I talked through my concerns with a few friends and experts, I came to realise that insurance wasn’t all that I thought it was. I began to see it as an integral part of planning for my future rather than a consolation for an injury or death. And as I transitioned across the different life stages, I found myself becoming less cynical and more certain about it.

With the wedding and renovations out of the way, Xinyi and I began considering what kind of home we wanted to build for ourselves and the one thing that stood out to us was ‘security’ – something we soon realised that financial planning could help us achieve.

Taking the first step

I decided to commit myself to a life insurance policy for the assurance of knowing that my family would be provided for as they find some form of financial normalcy should I no longer be able to provide for them physically.

In fact, I started to see how a life insurance plan could help address a few questions I had at the back of my head as I moved from marriage to becoming a father of one and now two: Will my family be able to cope without worries when I’m gone? How drastic of a change would my family have to go through if I fall ill?

As a couple, we believe that planning ahead is beneficial in helping us manage our family’s finances while being prudent in considering the needs before the wants – in my case, this means providing for my wife and children even after we’re gone.

While Xinyi and I still have a long way to go in our financial planning journey, we can safely say that insurance is more than mere compensation, but an assurance that those left behind will be able to stand up again – a realisation that’s become more apparent to us as we journey through life together.

Regards,

Augustus

Get a million-dollar life insurance cover with free spouse coverage

As you enter the next stage of life with your better half, FWD Term Life Plus insurance gives you and your spouse the financial security as you embark on new goals together as a married couple.

From as low as S$1 a day¹, you can enjoy a million dollar coverage which also covers your spouse for up to S$250,000 for 1 year, in the event of your death – at no additional cost to you.

You may also choose to enhance your coverage by adding optional benefits such as Critical Illness or Total and Permanent Disability riders for added protection.

And as you build your family, our fixed term policy allows you to top up your coverage during the term to cater for your changing responsibilities and liabilities over the years.

All you’ll have to do to get started is complete a simple online declaration without the need for a medical examination if you are in the pink of health.²

Check your price for FWD Term Life Plus.