https://www.ns.sg/web/portal/nsmen/home/promotions/listing/others/aviva Is this the one? Its only available after 1st July (1 more day though). Well, If its free, why not? Mindef Aviva PA Plan is worded more like a general insurance plan for accidents. Of course, the price is also very affordable, hence the coverage will not be as comprehensive (you get what you pay for). I bought it so that i can get the Living Care (Critical Illness) Policy at $300,000.00

My question to your question. Can you understand that investments are non-gauranteed (especially with only 3 years of lock-in period)? Any investment will be met with price fluctuation. You are going to be very disappointed if your money you put in are in the red. Also, what kind of returns are you looking at? Anything above 3.5% in 3 years, is going to be a bit risky (not capital gauranteed). This question is too vague basically to be answered, so i will be leaving you with lots of questions instead. Or

Oh wow. And I am here doing my slides for Insurance Planning JEDi Episode 5 and found a Q&A specifically on this 10X income and 5X for CI. its going to be a deep conversation if i go really deep, but there is a related question over here https://seedly.sg/questions/i-have-seen-post-that-says-that-when-we-buy-insurance-we-should-have-10x-of-annual-income-in-the-event-of-death-and-5x-in-terms-of-critical-illness-can-i-know-what-does-this-mean Quote and unqoute myself " These are just general rule of the thumbs. Because it covered the following: (1) Cost of 10X annual income is for death and 5X to premiums is affordable enough. (2) Coverage should be sufficient for a family to make changes and accomodate (either lower expenses or change in lifestyle which should hopefully help). (3) some form of coverage helps to manage cost expectations (combination of the 2 reasons above). Of course, a more detailed coverage plugging all the liabilities would be much better, but that takes a lot more work." If you have TPD, would $1 million be enough? Thats my question. (can it last 50 years with medical inflation? while you invest in a fairly stable to pay your own nursing home + care + expenses). A fairly reasonable estimate is $2,000 a month for a TPD person. If you need even more details and research, might want to drop over to AIC (Agency for Integrated Care) and ask from the horse mouth if you have such concerns.

It depends on how much you need and what kind of payouts etc you want. If you are adventurous, stocks/shares/bonds/property/fixed income can help fill that gap (go to the vanilla products). Because these are exactly what the par funds of endowment and retirement products invest in. But if you really wish to handsoff and pay people a fee to manage, that is where robo-advisors and other platforms can also help you. (about 1% fees) If you value gauranteed so much at a 2% to 2.5% fees, then endowment and annuities may be suitable. Our traded endowments are highly specific hence you may not find what you want, even if the returns can be higher then normal endowments though.

Er, wow. I mean there are quite a number to address over here. 1) If you withdraw your cash benefit, there will be difference in the maturity benefit a) accumulated benefit illustration assumed you never withdraw b) payout assumed you withdraw the yearly benefit. So there are two maturity benefit based on what you do with the money. For your 2nd question on "25 years term doesn't have any maturity bonus". Who told you that and based on what factual and contract document? I mean, there is no basis to say that when the policy contract itself have. (its about reversionary bonus and terminal bonus). Kindly get the person to go with you to customer service to confirm and verify because what i know is, there is a terminal bonus (which is the maturity bonus). Or please get the facts correctly with the insurer customer service with the person who mentioned that (or clarify what the person mean by "no maturity bonus"). I mean its not fair to say unless its verified at all.

You can consider Traded Endowment Plans with much lower term tenure and higher returns (but higher risk than your own endowment). Or short term endowments (with minimum of 10k e.g), or even just have a good basic account like SC Jumpstart account (not necessarily need to lock money anyway). But if you are asking how much, i would say a minimum of $50 a month to $100 only. If you can get lower, then good. This is to prevent buyers regret (i met with so many that i have a pool of Traded Endowments). Learn more about investments (yes higher risk, so the potential for higher returns). You will benefit more because you have a longer horizon.

If you wish to fulfill the insurance category (and you have a huge amount of leverage on the Multiplier account, where purchasing the insurance gives you really a lot more interest compare to the premiums (making the insurance free). Therefore we deem term insurance useful (cancercare) in this case. Please check out https://www.policywoke.com/links for referral links and see our video for more ways to optimise your finances.

From what I know, currently regulations have only gotten stricter. From my time, its was in transition from part time to only full time financial planners. So i believe now they have tighten it further. You could still check with the Companies though whether they allow it.

As mentioned by Wenhao, he has covered most of the grounds. I would just like to add this in. IF you are able to invest the remaining amount, future premiums are actually cheaper in present value, especially if you make sure you buy term and invest the rest. The future premiums can be serviced partly by the investment returns. Hence its a matter of will you invest or not. If not, get a levelled term. If yes, and you can get higher returns of 6% p.a, sure, mindef Aviva looks ok. Of course, do have a end point and calculate them properly on the present value and future value.

I personally think there is a way to optimise. But Transferring depends on whether you (1) need the tax relief offered by the SA top-up (if no need, then just transfer) (2) for OA, there is more flexibility to invest the 2.5% in Endowus and other providers (3) Is SA shield something you would much prefer also? (Then hit FRS asap to make it work), and top up the remaining to RA after 55 (for SA shield and RA to work hand in hand). As other commenters said, you can even transfer to your parents etc. I would do SA transfer in this manner. Parents, then self, then kids. Liquidity is something that people did not consider much, but i would because there is no further advantage to topping up your kids and you deprived them of the tax savings in the future, while you have liquidity advantage to your parents and personal 1. I like planning for balance with returns and change of plans in mind.