When applying for any insurance plan you can nominate who you would like to receive any benefits or proceeds from the policy. The person you nominate is called the "beneficiary" of your policy.

For life insurance policies, yes, you can generally name more than one beneficiary if you wish, but always read through the policy documents in full as some policies may have exceptions.

For other types of insurance, such as medical, hospitalisation or accident coverage, payment is usually made to the person insured by the policy.

For many life insurance policies you can set how much each beneficiary will receive. This can be set when you apply for the policy and can be adjusted at any time throughout the term of the policy.

For example, you could split the proceeds, also known as ""benefit"", equally between two beneficiaries. Or you could give one beneficiary 40% and the other 60%. Or 90% and 10%, it's up to you.

Paying for the wedding, the honeymoon, moving into a new home together, having kids - there's a lot to save for and sometimes this may feel like one of the most expensive stages of your life.

What to do

Everybody's needs and financial goals differ, so it's always best to talk it through with your financial advisor. In general, though, it's good to have a small amount set aside that you can access easily and use the rest to build a diversified portfolio over time.

The first step: get insured

Once you have a small emergency fund set aside, get yourself some insurance to protect against poor health, accidents or disability. If you ever need to make a claim this could be the best investment you ever make.

And then, invest

Now you can look to grow your money. If you'd like to keep your assets liquid (meaning you can access them quickly, rather than having money tied up in, say, a mortgage or long-term savings plan) you may like to look at mutual funds, which offer individuals access to professionally managed, diversified portfolios in equities, bonds and other securities. Find out more about our award-winning mutual funds

Congratulations! Having children is a wonderful new stage in your lives - but as your parents probably told you when you were young: kids aren't cheap.

Not to worry, we have a whole section dedicated to people like you looking to start a family, complete with all the information you need to get yourself prepared.

Protecting yourselves with insurance and investing for the future is serious stuff, but it needn't be painful or complicated. So don't worry if you don't know your ILAS plans from your mutual funds, or the difference between 'liquid' and 'illiquid' investments - we're here to help.

Check out our Glossary page to find out what all of these industry terms mean and don't forget you can always contact your financial advisor or call our hotline on (852) 2510 3941 if you ever have any questions. Never be afraid to ask us - it's our job to help you!

You may be better suited to certain types of investment depending on your risk profile. Before embarking on an investment it's always best to consult a fully qualified financial advisor who can make recommendations based on your unique circumstances and financial goals.

If you'd like to get a general idea of your risk appetite before you meet with an advisor, you can also fill out our short Risk Profile Questionnaire.