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Pang Zhe Liang

I love Consumer Finance because I am part of it! Like my FB Page for more content on estate planning & financial planning in SG!

Pang Zhe Liang

Senior Financial Services Consultant at AIA Singapore Private Limited

About

I love Consumer Finance because I am part of it! Like my FB Page for more content on estate planning & financial planning in SG!

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Senior Financial Services Consultant at AIA Singapore Private Limited

Pang Zhe Liang

Senior Financial Services Consultant at AIA Singapore Private Limited

  • Answers (2220)
  • Questions (0)
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Critical Illness (CI)

Whole Life Insurance

Insurance

FWD

Does anyone have thoughts on FWD's big 3 critical illness plan to supplement my whole life + critical illness plan?
You may wish to research further on the terms for coverage, as well as the premium on renewal. This will give you a better insight on whether it fits into your needs.
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Critical Illness (CI)

Insurance

FWD

I was reading Seedly鈥檚 article on CI insurance, it seems like FWD鈥檚 Big 3 Critical Illness Plan is good enough. What am I missing?
Above all, Seedly is not licensed to provide any form of financial advice. In addition, the information that they have presented may not always be factual. Therefore, you are advised to speak to a MAS licensed agent for the most accurate information. Generally, you need to understand the terms for the policy, alongside with the renewal terms. For instance, is the policy on level premium? Next, it is also important to understand the conditions for payout, as not all the definitions are the same. I have explained it in my post on the upcoming critical illness definitions changes. More Details: Critical Illness Definition Changes Singapore: Clarity comes with a Cost! Meanwhile, there are many plans in the market that provides coverage for early stage critical illness. In detail, one of the covered condition is for early stage cancer. Therefore, you may wish to research further, or to speak to a qualified consultant for responsible financial advice. I share quality content on estate planning and financial planning here.
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Investment Linked Policies (ILP)

Insurance

Is AIA Smartgrowth II a good ILP?
AIA Smart Growth is not an investment-linked policy. Instead, it is a participating policy and your money is invested into the insurer's participating fund. More Details: What is a Participating Fund? We will need to know your objective before we are able to determine whether the plan is suitable for you. I share quality content on estate planning and financial planning here.
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Hospitalisation Insurance (H&S)

Insurance

AIA HealthShield Gold Max Health Insurance

Health Insurance

I am 27 and have an IP AIA Healthshield Goldmax Standard started before the co pay feature kicks in. Can someone help to clarify the standard plan coverage for ward A and private hospital?
It will be good to know the full details of your plan in order to give you the right advice. Generally for AIA HealthShield Gold Max Standard Plan, it provides coverage for B1 ward and below in government hopsitals, subjected to the individual claim limits. Generally, there is no way to get more coverage but reduce the cost. Therefore, you may wish to readjust your priority or speak with your agent to do a comprehensive financial planning. He will be in the best position to advise on whether it makes sense to do the switch. I share quality content on estate planning and financial planning here.
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Fresh Graduates

Insurance

Life Insurance

Whole Life Insurance

How much coverage should I get for whole life insurance as a fresh grad?
Generally, life insurance coverage can be split into three life's major event, 1. Pre-Mature Death 2. Total & Permanent Disability 3. Critical Illness Death Coverage There are a couple of factors that we need to clarify and plan before we can establish whether there is a need for death coverage. For example, do you have any dependents? Do you have any liabilities? More Details: 5 Reasons why You need Life Insurance - Death Coverage Total & Permanent Disability Since you are alive and continues to live, there exists a need to be insured. More Details: 5 Reasons why You need Life Insurance - Total & Permanent Disability Coverage Critical Illness Similar to the rationale for Total & Permanent Disability, there exists a need for you to be insured. More Details: 5 Reasons why You need Life Insurance - Critical Illness On the whole, these are general guidelines which may or may not work for you. Therefore, you are encouraged to conduct comprehensive financial planning. Through this process, it ensures that we are well-planned ahead in life. I share quality content on estate planning and financial planning here.
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Critical Illness (CI)

Insurance

I understand some CI plans have already switched to the new definitions, although it is not Aug yet. Could GE/Aviva agents help to verify my plans? Any other plans with the new definitions already?
The best way to verify this is to check directly with your agent, or the customer service centre. At the same time, they will be able to advise on when the changes will take place, and whether your existing policies will be affected. I share quality content on estate planning and financial planning here.
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Insurance

Hospitalisation Insurance (H&S)

Critical Illness (CI)

If I already have a very good hospitalisation plan, do I still need CI cover after age 65?
Hospitalisation coverage and critical illness coverage are for different purposes. Generally, the former is to cover for medical bills on a reimbursement basis while the latter issues a lump sum payout upon meeting the terms and conditions of the policy. More Details: Is MediShield Life enough in Singapore? Integrated Shield Plan Singapore: A Starter's Guide Since not all costs are related to medical bills, e.g. hiring helper, home modification, supplements, therefore, it is usually suggested to have critical illness coverage for as long as you live. More Details: 5 Reasons why You need Life Insurance - Critical Illness I share quality content on estate planning and financial planning here.
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Insurance

Hospitalisation Insurance (H&S)

Critical Illness (CI)

Whole Life Insurance

Life Insurance

I have been working for 3 years (27 this year). My take home pay is about 3.5k. How much should all my insurance cost? Is 10% of 3.5k a good gauge?
How much insurance coverage should You have? As a general rule, 10% to 20% of your annual income on healthcare insurance and life insurance Basic Life Cover = 10 times your annual income Critical Illness Coverage = 5 times your annual income Death Coverage There are a couple of factors that we need to clarify and plan before we can establish whether there is a need for death coverage. For example, do you have any dependents? Do you have any liabilities? More Details: 5 Reasons why You need Life Insurance - Death Coverage Total & Permanent Disability Since you are alive and continues to live, there exists a need to be insured. More Details: 5 Reasons why You need Life Insurance - Total & Permanent Disability Coverage Critical Illness Similar to the rationale for Total & Permanent Disability, there exists a need for you to be insured. More Details: 5 Reasons why You need Life Insurance - Critical Illness I share quality content on estate planning and financial planning here.
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PolicyPal

Critical Illness (CI)

Life Insurance

Health Insurance

Insurance

Does Critical Illness Plan cover Diabetes?
Generally, Diabetes is not one of the standard 37 medical conditions on Life Insurance Association Singapore's framework. Accordingly, it is usually not covered in most critical illness plans. Despite that, there are some plans that cover Diabetes in certain situation. Examples of such plans include AIA Diabetes Care, AIA Power Critical Cover. For this purpose, you may wish to research further, or to seek professional advice. I share quality content on estate planning and financial planning here.
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Insurance

Fresh Graduates

Personal Accident Insurance

Critical Illness (CI)

I am a young working adult looking to kickstart my insurance. Should I top up my company insurance or obtain a Personal Accident and Critical Illness plan for myself?
Generally, I will suggest for most consumers to get their own insurance policies. This is because the company insurance programme is usually not portable. Consequently, when either party switch company, you are often on the losing end. What's more, it is probably easier to submit a claim through your agent too. I share quality content on estate planning and financial planning here.
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