04 Apr 2020
Zachary Zou Lida
03 Apr 2020
Financial Consultant at Professional Investment Advisory Service
I think whether or not a term is suitable for you or not really depends on your age.
Assuming that you are 25 years old this year, and you wish to get covered for the following:
1) Death (150K)
2) Total and permanent disability (150K)
3) Early critical illness (150K)
All coverage ends at the age of 80 (except for whole life)
Premiums are as follows:
1) wholelife plan: $2067.50 per year, pay until age 50
Total premium outlay: $2067.50 X 25 = $51,687.50
2) Term: $1857.30 per year, pay until age 80
Total premium outlay: $1857.30 X 55 = $102,151.50
For buy term and invest the rest to work, you will need to be able to turn over 20% per annum on your investments.
Of course, if you're just getting a term for Death coverage for the short term only, then a term would make complete sense. This all depends on your existing insurance coverage and the additional coverage that you are looking for.
I'll be more than happy to get to know more about your needs and share more with you over coffee, and I can promise you that there will be no selling in that very first meet up.
-removed by admin-
That's something I have been asking myself for 5 years.
"Why in the world people buy insurance?"
"What's the best insurance?"
"What's the "best" option?"
Well, for one, each company plays to a certian group of people. Company A has more benefit for Smokers, Company B has better rates for people in their 50s, so on and so fourth. Like every other companies, each try to be different. Thus, each has their own niche.
Hope you're doing well in this trying times bro! Or Sista! Cheers!
08 Aug 2018
Senior Financial Consultant at Prudential
When you get Term plan look for the fine print. In Singapore, all critical illnesses coverage follow...
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