LPPPHSC

L

Lifestyle

Lifestyle - current

day to day living expense, cost of purchasing things

Lifestyle - future

living expense linked to inflation so earning needs to rise

P

Protection

Protection

products - critical illness cover (pay for mortgage) income protection (provide income if unable to work, might have cap on benefit)

P

Pension

P/H for healthcare

Personal accident insurance and private medical insurance

S

Savings

Savings

purchase property, pay of mortgage, for retirement (meet daily cost), acc wealth for future needs, buy luxury car, for high earner emotional needs would be higher

Credit card

to meet ST payments