Besides Avivia Mindef Group Term Life, what other health insurances would you recommend people to buy for someone who is still a young adult?
Planning for my future but I really do not know about insurance. I know about one should get term life insurance instead of whole life insurance. I honestly don't know much about health insurance. There are so many health insurances out there in the market.
My only wish is that I want to pay the least premiums but have sufficient insurance coverage for health.
Thanks for looking and hope to hear your responses.
Hi there. I just wrote an a short article on Integrated Shield Plans. As there are too many different benefits from each provider, the most important thing is... what is your needs?
You need to identify what are the good to have (which you normally have to pay a premium) versus what are the essentials.
Do you really need a final expense? Hospice coverage? New technology like proton beam treatment for cancer? OR just basic hospitalisation?
Do take a look at ask more questions ro form your own answer based on your NEEDS.
Hi, I understand your concerns. It's great that you're stepping up and preparing yourself with financial knowledge to plan well for your future. However, the cheapest does not always reflect adequate coverage. It's common for people to want to pay the least for insurance coverages.
For a young adult, your concerns would be:
With regards to your health, you should actively seek insurance to cover your
-- Hospitalization and Surgery (H&S) via a Integrated Shield Plan (ISP)
-- Personal Accident
-- Critical Illness
The main goal is to protect your ability to earn income.
With regards to short term goals, you should actively seek to grow your professional development, skillsets and explore ways to increase your income by choosing the right career or negotiating for a higher salary. Short term goals are goals that you will generally aim to reach within the next 5-10 years. Housing, wedding, birth of a child, these are considered short term goals if you're in your early twenties.
With regards to long term goals, such as buying a second property, children's education and retirement, having clarity on your long term goals will help develop a long-term strategy that works for you.
Feel free to contact me to learn more: https://cherietan.typeform.com/to/wdlOfu
Aviva Mindef GTL is not a health insurance policy. Its life insurance.
A health insurance policy wo...
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