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CPF

Insurance

Investments

Retirement

Any lifetime income annuity policy would suffice. I could show you a few if you'd like from multiple insurers. I have the calculations and projections made for different age groups. Only issue is that CPF is known to change the black and white from time to time, so this rule may not be in effect when you're 55, so that's the issue.

Endowment Policies

Insurance

You'll need to calculate the existing bonuses already paid, because those are now guaranteed as well as future growth every time you pay a premium. Policies after 20 years or so, usually earn 6-8% everytime you pay a premium. Most of the time unless you desperately need the money, it'll be better to keep an old endowment policy.

Endowment Policies

Term Life Insurance

Insurance

AXA Term Protector is the only one. Here's proof. ! You can pay throughout or pay for 15 or 20 years.
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Insurance

MoneyOwl

General

Dear Anonymous Thank you for the question and thank you Tat Tian for helping to answer as well. Just to give a bit of background, in 2014, Providend started DIYInsurance, Singapore’s first insurance comparison site. 1-2 years later, Finally.sg from Rayalliance (a financial advisory firm and not a general insurance company) started a similar site with almost the same model. The difference was that while all advisers at DIYInsurance was salaried to prevent conflict of interest, Rayalliance advisers are commission-based. In 2018, Providend and NTUC Enterprise went into a JV to form MoneyOwl and DIYInsurance was absorbed by MoneyOwl. Today’s MoneyOwl is the 10th social enterprise of NTUC Enterprise. We are not a cooperative. Moneyowl do not just offer insurance advisory service, but since Nov 2018, we have launch an online will writing service and most recently, an investment advisory service using both tech and human wisdom. In a few months time, we will be launching our comprehensive financial planning bionic advisory service. With that, I will say that the key differences between Finally.sg and MoneyOwl are: 1. Corporate Parentage and service offerings As mentioned, MoneyOwl is a JV between NTUC Enterprise and Providend. Both are local home grown companies with decades of experience doing good, doing well and doing right for Singaporeans. NTUC is a trusted brand among Singaporeans and Providend is one of the earliest financial advisory firms since 2001. It is well known for its deep expertise in financial advice as well as being a champion for conflict-free and ethical advice. MoneyOwl is a licensed financial adviser as well as fund management company. MoneyOwl is a bionic financial advisory company offering insurance, will writing service, and most recently, our investment advisory service via tech and human advisers. Finally.sg is a insurance portal belonging to Rayalliance, licensed financial adviser. Finally.sg is not a corporate entity. 1. Salaried advisers At MoneyOwl, we take the giving of conflict-free advice very seriously. At such, all our advisers are salaried based and do not take commissions. This is to ensure that our clients are assured that whatever advice given is purely for their good. Finally.sg is part of Rayallsince and their advisers are commission based. 1. Safe and Secure Platform At MoneyOwl, we are very serious in ensuring that we provide a safe and secure platform for you to receive advice. This is why MoneyOwl is ISO27001 certified. These are just some of the difference between MoneyOwl and Finally.sg. Hope this clarifies.

Resale HDB

HDB BTO

CPF

Insurance

BL
Brian Lee,
Level 3. Wonderkid
Updated 1d ago
You mean Term (Level Term) vs HPS (Reducing Term)? MRTA and HPS basically the same where it takes care of your house loan upon the insured death. MRTA is used by the bank and HPS is used by HDB loan that uses CPF monies. If Term vs HPS, then you can go to comparefirst website and generate the loan amount and see the premium vs what you are currently paying for your MRTA/HPS. You might be surprise the Term might cost about the same or slightly more than your MRTA/HPS. Maybe just to add some e.g. on how Term vs MRTA/HPS payout. Assume insured took $400k loan for 30years and bought the same protection. Death happen on year 20. A) MRTA/HPS will pay off the remaining 10 years (of about 168k) B) Term will pay the full 400k. So you can use the 400k to pay the remaining 168k loan and have additional $232k for other purpose. Bonus: You can "re-use" your term policy should you plan to sell current house and buy a new one.

Insurance

Huang Yixuan
Huang Yixuan, Product Designer at Seedly
Level 6. Master
Updated 5d ago
I understand how you feel!! Happened to me last year also. Just started working and my friend (okay actually not really close but we hang around in a group sometimes) asked me out to talk about insurance and I felt bad to say no. But only afterwards I realised he didn't actually take the time to talk to me to understand my needs, but only just generically tried to sell me a whole life insurance. And when the insurance underwriters rejected my application due to my exisiting health conditions, he tried to push me to get an endowment plan instead. Now I just ignore him when he texts me cause he was just too pushy and I don't think he actually cared bout my welfare. I think when you realise that your friend is using the "friend card" to guilt trip you into buying insurance for him, you need to decide if he is really your friend and if he is somebody you want to keep in your life. These things can show their true colours. Hope you manage to siam this!

Insurance

Take the loading offer and in fact, buy more cover. Insurance premiums are priced on statistics and probability. The reason they asked you to pay 50% more is because you have a 50% higher chance than your peers to claim for the benefit you're trying to cover. If you purchase a 5 year term policy and the conditioned worsened, you may be totally declined when you try to renew or reapply for another policy. If you take the offer now and it worsens after 5 years, at least you still have coverage and you'd be thanful for making that wise decision 5 years ago. And if it really gets better, then awesome,you pay less premiums.

Insurance

Health Insurance

Absolutely. If you fall ill right now, you'll get treatment from a Singapore Hospital. The limits on Malaysian Medical Cards are usually about 100-250k SGD while an integrated shield plan here is easily 500k-1.5m depending on the type of benefit you want. You can get that shield plan as a foreigner from a few insurers. I suggest checking out NTUC, Raffles Shield, and AIA. Speak to an independent advisor like myself to understand how the policies work and get a comparison for those that offer their policies to foreigners. :)

Insurance

You should absolutely let him know. You may also want a refresher on why he chose the sum assured and his rationale for the WL policies. Do note that the IR in BTIR is meant for self insurance and not for retirement/general wealth accumulation. So the IR replacement to your WL is meant to cover any insurance needs in old age after you most probably stop working. And lastly your portfolio allocation will shift to a conservative portfolio after age 60 or so, and a WL policy returns that's meant to adjust the base cover for inflation grows at about 3-4% which is already a conservative rate of return, without you needing to worry about your investment performance return. Every year your WL policy gives you bonuses, you automatically "take profit" unlike your investments where you have to sell to realise capital gains.

Insurance

Term Life Insurance

Early Critical Illness (ECI)

Critical Illness (CI)

This would answer your question. If you only discovered at late stage, Living Care Plus will not pay out. This is unlike private insurance ECI definitions and payout. !
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