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Angeline Teo
01 May 2020
Calculator at The Internet
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Josh Tan Jian Liang
28 Apr 2020
Co-founder https://theastuteparent.com at Promiseland Independent Pte Ltd
Dear Anon,
Medical insurance can save you on medical liabilities. Indeed it is very important and as young as possible definitely is better.
Rule of thumb as an insurance coverage is usually
10X Annual Income as coverage in the event of Death
5-10X Annual Income as coverage in the event of Critical Illness
Integrated Shield Plan with Rider
Would share more details in this article on what do the insurance coverages help you with. And we have a package to suggest as a starting point for young working adults.
Read article: https://www.theastuteparent.com/2020/04/no-nons...
If in doubt drop me an email at [email protected] or contact any qualified adviser.
PS: Sub to our telegram for the latest financial planning ideas, cya there too! https://t.me/theastuteparent
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Colin Lim
28 Apr 2020
Financial Services Consultant at Colin Lim
Been a young and healthy working adult, u need....you never know when u need it. dont count your luck. i was in reservist and i injured my knee.. luckily i am covered on medical insurance...and i use that first...Mindef process is very long, took them 6months to process my claims.
if any1 need any advise, can reach out to me
#planwithcolin
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Lee Shiyun
28 Apr 2020
Financial Services Consultant at AIA Singapore Private Limited
The best time to get medical insurance is when you are young and healthy. I have met many people who had relied heavily on their company insurance for most of their lives, then only start panic when it nearing their retirement. That is when they realised they are no longer in the pink of health, thus their options for medical insurances are limited by their medical conditions.
When you are young and healthy, you get to choose which insurer you prefer. Once you have a medical condition on record, it will be the insurer's turn to decide whether to take your policy in or not. If the medical condition is not too serious, it might just be exclusion. In unfortunate cases, the application might get declined right away.
Hence it is always advised to get insured when you are perfectly healthy and lock in that coverage. You don't want to be saving and investing all your life and only use the accumulations just to pay off your medical bills. Take a small portion out of your savings, do yourself a favour and put in a medical insurance. Afterall, your biggest asset now is your clean bill of health :)āāā
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Lee Gek Lan
26 Apr 2020
Financial Consultant at Income
Hello, medical insurance should be the main basic building block for your insurance. For medical ins...
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Yes, and you probably won't even need cash for simple and good enough private shield medical insurance.
google for private shield medical insurance that are payable with your CPF-Medisave amount. Every major insurer has it.
AIA healthshield, Prudential prushield, aviva myshield, Great eastern supremeshield, raffles hospital shield, NTUC income shield, etc etc.....