Josh Tan Jian Liang - Seedly
Josh Tan Jian Liang

I want to impact our society even more and inspire anyone including you to “take charge of your financial future”

Josh Tan Jian Liang

Co-founder https://theastuteparent.com at Promiseland Independent Pte Ltd

25Upvotes

About

I want to impact our society even more and inspire anyone including you to “take charge of your financial future”

Credentials

Co-founder https://theastuteparent.com at Promiseland Independent Pte Ltd

Josh Tan Jian Liang

Co-founder https://theastuteparent.com at Promiseland Independent Pte Ltd

25Upvotes
  • Answers (50)
  • Questions (0)
  • Reviews (0)

Insurance

Early Critical Illness (ECI)

Hi there, May not be - "apparently standalone Term option for 200k ECI is already 2K p.a. (why?), payable till the end of coverage (e.g. 65y/o)." I did a tabulation for you from Singlife for the MultiCI standalone term plan. Premium is $1,384.83/y and with 15% discount now it is $1,170.10. To clarify, the Singlife multiCI plan is an ALL stage coverage which includes early CI. Premium is assuming a standard rate. It is to share with you that Early CI coverage can be significantly less than $2k/y till your age65. For further questions, speak to an independent advisor who works with multiple insurers including Singlife. A plan should suit your needs and planning strategy. More details can be seen in this post where the step-up strategy for coverage is explained also https://www.theastuteparent.com/2019/04/singlife-early-critical-illness-step-up-feature/ !
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Insurance

Family

Hospitalisation Insurance (H&S)

Healthcare

Hi there, Use this insurance premium calculator to get a quick comparison between plan premiums. https://www.theastuteparent.com/2017/04/integrated-shield-plan-calculator-comparison/ Plans in the calculator are to private hospital coverage. If premiums are out of budget, look for plans that cover till B1 ward only. One example is NTUC Incomeshield Basic. If you've further questions, reach us back https://www.theastuteparent.com/contact-us/ for a non-obligatory discussion.

Property

Investments

Lifestyle

Loans

Hi there, Paying off your house is good. It lets you take a larger loan if you are buying a second property in future. I saw " without touching CPF". I'd suggest using CPF to pay off the mortgage and instead keep some cash behind. More in this post 5 Reasons Why You Lose Out If You Use Cash To Pay For Housing Loans Good luck

Investments

Money FM 89.3 Show

Hi there, "never know if the share price is going to drop back to that price" - If you are new to investing this fear of missing out is hard to get past. Prices almost always come back to "that price" at some stage. I'd suggest learning a bit from history. Look back at price actions in 2008 carefully. In addition, I have got this youtube video to share with you below. Hope it helps! More ... Should you buy when markets are up?

Insurance

Family

Personal Accident (PA)

Hi there, You are right that an infant is mostly home bound mostly sleeping. Not jumping and climbing around which is a problem after year1. The pull to climb phase comes in 6-9months into growth and that' where accident risk starts to increase. Hence, there is no need for a PA plan from Day0 other than covering risk of HFMD. I've this post that answers with more details on what PA plans to buy for your child https://www.theastuteparent.com/2019/03/the-dos-and-donts-of-personal-accident-coverage-for-your-child/

Insurance

PFF Panel 1

Seedly PFF 2019

Hi there, if you feel he needs additional hospital coverage and the family is able to share the cost on it well. I've got a summary premium calculator that you can use for free over here https://www.theastuteparent.com/2017/04/integrated-shield-plan-calculator-comparison/ From my experience with private client's parents, there is usually certain health history. For certain chronic conditions, Raffles Shield can be a solution of coverage. At an older age, premiums are higher and some prefer to insure with the NTUC Incomeshield with a 10% co-payment rider to be more cost-effective. Reach us at https://www.facebook.com/TheAstuteParent/ if you have further questions. Take care

Insurance

Hi there, for 20-year term plans to cover for life and TPD (example to cover for mortgage loans), a personal term plan can be even cheaper. Depends on what are your key concerns. To the age of 65, the Group term life premium is cheap. Similarly for the personal accident coverage. On the other hand, the critical illness (living care) is not competitive and the early critical illness rider (living care plus) has limitations. I've got a full write-up on it over here: https://www.theastuteparent.com/2017/06/saf-group-term-life/ Hope it helps

Family

Insurance

Hi Jean Michoud, An international healthcare plan with the maternity benefit can cover your costs with maternity after you've cleared the waiting period (typically 1 year). For pregnancy-related risk, it can be covered with a pregnancy plan. Manulife Readymummy is the latest offer. I have arranged it for my private clients on many occasions. To get a general overview, this post can help you, all the best and congrats! https://www.theastuteparent.com/2018/11/should-i-buy-pregnancy-insurance/

Savings

Lifestyle

Hi Raimi Jasman, Do you feel $10k is sufficient for emergencies? If you do then maybe that's sufficient enough to keep. $8k to splurge on travelling regionally does seem quite abit though, maybe you're staying quality hotels or something =) I've an alternative to suggest to you, something which I've posted on Seedly before. I'd recommend to reconsider if emergency savings is really a flawed concept. What if you want to seriously grow your wealth? Maybe an opportunity savings would help you more instead? Read more here, enjoy: https://www.theastuteparent.com/2019/03/emergency-fund-myth/

Insurance

Hi Desmond, I understand the confusion you have on early CI coverage and multiple CI coverage. There are many who buy a multiple CI coverage and a qualified adviser can help you on understanding it. I've some analysis on the best CI plans in the market, hope it helps https://www.theastuteparent.com/category/insurance-analysis/term-insurance/critical-illness/
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