Insurance

Protecting you for the rainy days

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Insurance
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    Level 7. Grand Master
    Answered 1d ago
    I personally don't distribute general insurance but I can refer you to a colleague who specialises in them. Such products can be a little complex to discuss on such a forum. Drop me a message if you'd like the recommendation.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    Level 7. Grand Master
    Answered 1d ago
    Stroke patients have possibly zero chance of getting coverage for either health or life insurance. For high blood pressure, you can try Raffles Health Shield for health insurance, and some of the newer CI plans like MyCoreCI from Aviva that would insure someone with that condition.
  • Asked by Anonymous

    Yixiong Chang
    Yixiong Chang
    Level 5. Genius
    Answered 2d ago
    Get the Executor or administrator(if no will) to visit each insurer personally to check if the deceased holds any policies with them.
  • Asked by Anonymous

    Teo See Hwa
    Teo See Hwa, MArketing Associate at Propnex
    Level 3. Wonderkid
    Answered 4d ago
    Use what you are given first. All SC are given two chance to buy BTO, lose this will set you back a few Thousand only. You remind me when I was your age. I bought my first HDB in 1988. profit 180k @ 24 second HDB in 1995, paper gain from 250k to 640k @ 31 first Condo in 2006, paper gain 535k to 1,550k @ 42 second condo in 2011, paper gain $1,305800 to $1,588,000. @ 47 Now 55.
  • Asked by Anonymous

    Kenneth Lou
    Kenneth Lou
    Level 8. Wizard
    Answered on 19 Jun 2018
    Hi there, this is perfect because you will be ORD-ing very soon. I would highly recommend educating yourself first. It only takes maybe an hour max. You can read more here: https://blog.seedly.sg/working-adults-what-are-the-key-insurance-policies-you-should-get-in-singapore/ I Suggest: A Quick 30 min Exercise - Review your insurance policies (either by calling up your agent for a review, Google search) - Look for these 2 key essential type of policies: A Health policy (hospitalisation & surgical, private hospital cover) and A Life policy (Understand if it’s a term or life) - If you still need help, feel free to post it here on our QnA where many have done so before - Everything else is a bonus to have based on varying situation (The policy names may be fancy but their updated websites should clearly state which type of policy it is) Most important ones are describe at the top: Health and Life policy. In fact since you are from the Army or MHA or Mindef, you should seriously consider the AVIVA Group Insurance policy. Extremely affordable and beffiting for young working adults :) Find out more why here: https://blog.seedly.sg/should-you-cancel-your-aviva-mindefmha-group-insurance-after-you-ord/
  • Asked by Anonymous

    Jacky Yap
    Jacky Yap
    Level 4. Prodigy
    Answered on 18 Jun 2018
    hello! Yes i think it is ok. p2p lending is run by experienced team who will screen all the loans before they take them in and open the loans to public investors. im not in the p2p business but i think this is the process: 1) loan application by SME from P2P 2) P2P platform screens, does audit of the SME's business and determines risk and suitability + loan quantum 3) If business is sound, P2P approves the loan, if it is a bad business, P2P platform wont approve 4) Once loan approved, P2P platform publishes the loan and avails it for investment by public investor 5) public investor can take a look at the summary of the SME, the risk assessment and decides if he wants to invest in the SME's loan. So you can choose which business loan you want to back. And you can choose the amount. It is also in P2P platform's interest to ensure that the default rate is very low so that investors will continue to invest, because a bad apple will really break investor's confidence in the P2P platform. Funding society's default rate is <2% overall so is actually not that bad. For me, ive been on Funding society for almost 1 year now, no defaults so far. Returns should be around 7-9% after deducting the fees by funding societies. Overall experience is not bad, would personally recommend it for investors with medium to high risk profile. :)
  • Asked by Anonymous

    Loh Tat Tian
    Loh Tat Tian, Ex-Financial Advisor, Founder at Singapore Insurance Value Finding
    Level 6. Master
    Answered 4d ago
    I have done comparison before. Effectively locking the liquidity for 20-25 years, and getting 2.43% of growth seems very inefficient to me. Why not consider putting into your CPF SA for 4% returns to hit FRS, (since if you are about 25 years old, by 55 you can get your excess amount on top of FRS, out), tax relief of up to $7,000 for cash topup, or even topup your medisave to BHS (which also has tax relief)? If you require the money to be in cold, hard cash, you may even consider some universal life like Save3 TIQ which has a 6 years lock in period, at 3% interest, and can look for better deals after that? I would expect interest rate for banks to increase anyway for such a long time. For even for citibank maxi-gain account (which you may require $75,0000) but earns 70% of Sibor + 1.2%. Do review why you want to save so long, and earn a paltry interest in this case... (even DBS multiplier seems to have 2.2% which is so much flexible than the savings plan imho).
  • Asked by Anonymous

    Loh Tat Tian
    Loh Tat Tian, Ex-Financial Advisor, Founder at Singapore Insurance Value Finding
    Level 6. Master
    Answered 5d ago
    1) All Whole Life plans mature after Age 99 (at 100), so you are covered till 100. 2) If you strongly believe that you can manage your finances, and WILL invest the rest of the premiums, BTIR is good especially if you can hit more than 4% year on year (6% for ECI). 3) Whole Life Plans (especially limited pay plans) negate the rising cost of the ECI/CI plans by a 20 year limited. So it helps you to resolve the cost issue, though, it will definitely cost more than a term ECI/CI earlier on. In terms of time value of money, as mentioned, you need 4% (CI) or 6% (ECI) to beat the premiums paid when you BTIR, vs Term life. 4) Its never Term or Whole, but rather, how much you really need. If you do not need any insurance protection after 65, then just buy term.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    Level 7. Grand Master
    Answered 5d ago
    Financial products are like medicine. If they're simple, getting them from whatever pharmacy really doesn't matter. But if it's a little complicated, you want to consult a doctor for detailed advice. Same thing here. Choose your doctor, not your hospital/pharmacy.
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