How much are you paying for insurance? I'm 25, paying $400/month for hospitalisation, life (20 years payment then cover for life), ECI, CI, disability income of 2800/month. Is this a fair amount? - Seedly

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Asked by Anonymous

Asked on 25 Oct 2018

How much are you paying for insurance? I'm 25, paying $400/month for hospitalisation, life (20 years payment then cover for life), ECI, CI, disability income of 2800/month. Is this a fair amount?

As per the question. thank you! Important to always benchmark with my peers!

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Yong Kah Hwee
Yong Kah Hwee
Level 6. Master
Updated on 25 Oct 2018

I'm 25, paying $68/month for hospitalisation, term life, ECI, CI, TPD, disability income. Apart from hospitalisation, I am using the MINDEF AVIVA insurance for the rest.

As for whether it is a fair amount, you do not need to benchmark with anyone. As long as you are comfortable with the coverage that is provided, you are good to go :)

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Good Day Every Day
Good Day Every Day
Level 6. Master
Answered on 25 Oct 2018

It looks okay to me since it is a whole life policy and you are covered for death, TPD, CI and ECI. But the question is how much you are covered for death, TPD, CI and ECI to have an overall assessment.

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21 years old. Studying in polytechnic going ns next year but im planning to spend less than $50-$60 per month for my insurance coverage but might be a bit higher if the premium increase 2 years later. Estimated starting pay around $1700-$1900 after cpf. How much you earn?

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