This has been answered before. https://seedly.sg/questions/if-i-have-credit-card-debt-is-it-better-to-get-a-loan-from-the-bank-to-pay-off-the-credit-card-debt-knowing-loan-interest-rate-is-lower-than-credit-card-interest-rate MY take, you should not even need to look into this.

Once you have met the FRS, you will only be allowed to draw anything above FRS. BRS are only allowed for people who do not meet the FRS.

I think you really need to re-structure your whole plan. Aim to pay down debt ASAP. I would talk to everyone in the family to let them know the situation. You need buy in from everyone. Its a team effort. Please speak to the family. Your parents will need to cut down on some spendings etc. There's no choice unless you take another part time job. Your wife should be able to cook for you (and bring food to work everyday). Save whatever you can on expenses. Also go to https://www.ccs.org.sg/ and talk to an advisor etc etc for more information.

I only know NTUC Travel insurance do cover pre-existing condition. But do take a look at the product summary to confirm and re-confirm. I am always worried of last min changes by insurers. https://www.income.com.sg/prex

Upon reaching 55, only FRS / At most ERS will be transferred to the RA account. Order of Transfer SA of account Top up monies Ordinary Account. So if you hit FRS with SA account, likely it will be wipe (unless there is leftover). You can only draw CPF monies in your OA and SA lump sum.. Anything above FRS will remain in your CPF accounts E.g IF FRS = $171,000 OA: $220,000, SA:$101,000 turn 55 OA: $150,000 SA: $0 ... RA: $171,000

You need to understand the different eligibility for tax relief Employee 1) Voluntary contribution to MA account (Medisave up to BHS) 2) Mandotry contribution (automatically calculated) Self employed 1) Voluntary contribution to CPF account (tax relief allowable up to $37,740, or basically 17 times of the monthly pay limit of current $6,000). So could you elaborate what you mean by the $14,000? If you meant RSTU, its a limit seperate from the Voluntary Contribution of $37,740 for CPF.

This question only affects people under the Retirement Sum Scheme (Old scheme not under CPF LIFE). If you are age 62 and above now, you are definitely not under CPF LIFE. You will be required to OPT IN to CPF LIFE ro have gauranteed payouts for LIFE. If let's say, you are under the Retirement Sum Scheme, by age 95, you will likely have depleted all your CPF monies, and will require support from the government to fund your living, or you have to head back to work. Since every $30,000 gives you $100 a month, meaning to say, if you have $150,000 you will have gauranteed $500 a month for life. The only way to prevent drawdown of capital is to only use your interest earned from CPF RA and to throw back any amount drawn back into RA to have a pepetual annuity (maybe through your kids etc) etc.

Any monies in the RA will be subjected to the minimum allowed monthly payout of $250 (and increases once pass $50,000 in RA). Estimated monthly payout is $550 for RA account of $112,000 in RA. So for your mum, you can't withdraw in lump sum only...

There are no absolutes until your scope of cover is defined. From there, can there be some form of advice given. How long to cover, your age next birthday, sum assured. Term pros - Cost efficient, able to convert to whole life, able to employ "buy term invest the rest". Term cons - lapsed once premium not paid, not inflation adjusted, no cash value Whole life pros - guaranteed renewable and issuability once incepted, policy loan (lapse is less possible), cash value to hedge, inflation adjusted Whole life cons - more expensive because of savings component, IRR is only 3-4% at most Know what you need. To find the strategy to cover what is required.

If you are sitting on the fence, can opt for 50-50 coverage. But since premium is almost the same (especially if you are still quite young, like 35 and cover only to 60) , buy a level premium term. Mortgage insurance can only be used for 1 property. Lvl personal term can be used for many use other than property. It's really how you structure them.