Personal Accident Coverage:
For one thing, the mentioned policy looks like a personal accident plan that is distributed by the bank. Accordingly, you need to evaluate whether you are comfortable with the terms of coverage (i.e. contractual obligations), as well as the ability to do your own claims (should the need arise). What's more, your family need to be equiped with the same set of knowledge, skills, and experience to facilitate the claim (if you are not capable to do so). Otherwise, I'm not sure who you can approach for the basic after-sales service.
With that in mind, you may wish to consider whether the potential inconvenience is worth your hard-earned money.
Healthcare Insurance
Next, I will suggest for you to review your healthcare insurance policy, PruShield. For instance, check and confirm the scope of coverage, and whether you have included the optional rider as part of your coverage. I have explained more about why you should consider the rider here: Integrated Shield Plan Rider Singapore: A Starter’s Guide
In any case, yes, healthcare insurance is one of the most insurance policy that everyone should have. Hence, I am glad that you have (at least) the basic foundation covered.
Life Insurance
Next, you may wish to hedge and protect against income loss. Above all, we are the biggest asset that we own. If we fall sick, how long can the company continue to pay us salary? By and large, do you want to exhaust your hard-earned savings?
For this purpose, we will look at life insurance coverage and I have summarised the outline in Part 1.2 of this post: 3 Types of Insurance Policies in Singapore
Goals
Altogether, I will suggest for you to conduct a comprehensive insurance portfolio review first. Through the session, we are able to identify any shortfalls that you have, as well as to set goals for the future. Thereafter, it will become clearer on the type and scope of insurance coverage that you need. In effect, this helps to reduce and prevent poor financial decisions. After all, insurance coverage is usually a long-term commitment.
I share quality content on estate planning and financial planning here.
Personal Accident Coverage:
For one thing, the mentioned policy looks like a personal accident plan that is distributed by the bank. Accordingly, you need to evaluate whether you are comfortable with the terms of coverage (i.e. contractual obligations), as well as the ability to do your own claims (should the need arise). What's more, your family need to be equiped with the same set of knowledge, skills, and experience to facilitate the claim (if you are not capable to do so). Otherwise, I'm not sure who you can approach for the basic after-sales service.
With that in mind, you may wish to consider whether the potential inconvenience is worth your hard-earned money.
Healthcare Insurance
Next, I will suggest for you to review your healthcare insurance policy, PruShield. For instance, check and confirm the scope of coverage, and whether you have included the optional rider as part of your coverage. I have explained more about why you should consider the rider here: Integrated Shield Plan Rider Singapore: A Starter’s Guide
In any case, yes, healthcare insurance is one of the most insurance policy that everyone should have. Hence, I am glad that you have (at least) the basic foundation covered.
Life Insurance
Next, you may wish to hedge and protect against income loss. Above all, we are the biggest asset that we own. If we fall sick, how long can the company continue to pay us salary? By and large, do you want to exhaust your hard-earned savings?
For this purpose, we will look at life insurance coverage and I have summarised the outline in Part 1.2 of this post: 3 Types of Insurance Policies in Singapore
Goals
Altogether, I will suggest for you to conduct a comprehensive insurance portfolio review first. Through the session, we are able to identify any shortfalls that you have, as well as to set goals for the future. Thereafter, it will become clearer on the type and scope of insurance coverage that you need. In effect, this helps to reduce and prevent poor financial decisions. After all, insurance coverage is usually a long-term commitment.
I share quality content on estate planning and financial planning here.