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Term Life Insurance

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Health Insurance

Whole Life Insurance

Term Life Insurance

You should look first for the advisor that you can trust and work with. It's like how we have a trusted family doctor whom we would return to time and again. My TCM doctor has been looking after me for over 20 years, for example (went back recently for a sprain, and I wouldn't go to anyone else because I trust him). Ultimately we want to get the most value for our plans, but the quality of the advice and the ability of the advisor to understand you and your needs is paramount and cannot be understated. Insurance agencies are typically able to provide solutions which their parent company carries, whereas independent financial advisors generally distribute multiple insurers' products and are also able to assist in areas such as wealth management and advisory. As an example, I am able to manage my client's stock and unit trust portfolios, beyond helping clients get quotes from multiple insurers for their protection needs, or helping them plan their retirement strategies.
Kenneth Lou
Shared by Kenneth Lou

Have you re-looked at your policies recently? I just did a massive claim on my H&S due to dengue and happy that I have that protected. Here's a simple guide for you to refer to! Hope it helps :)

An Ultimate Guide: Key Insurance Policies You Should Get in Singapore 2019

The unbiased guide in Singapore: In reality, your key insurance policies should be focused on sufficient coverage for the right reasons at the lowest cost.

blog.seedly.sg

30 Jul 19
1

Insurance

Term Life Insurance

Based on 1) you are looking at coverage for a fixed period of time, in this case a term plan would suit you better. Critical illness and permanent disability can be added via riders 2) The policies are generally global in coverage so that's not an issue 3) Yes, one of the insurers is having a promotion now on the premiums (20% perpetual) so I suggest if you have been looking at getting your coverage, now is a good time. I represent multiple insurers and can quote from them and compare for you to get you the most cost effective coverage. Drop me an email at [email protected] and we can converse there.

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

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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Insurance

Term Life Insurance

Hospitalisation Insurance (H&S)

Your term insurance pays out in the event of death and total permanent disability. So no, you're still alive bro. And unless your nose issue was due to an accident, you can't claim from a personal accident policy as well.

Term Life Insurance

Whole Life Insurance

Insurance

Hi Tan, I suggest you speak to a financial advisor for face to face advice. The first thing you have to decide is how long do you want protection for? Till your kids are independent? Till you have no more liabilities? Till you retire? Till you die? Next is to ask yourself, if you do die, who will be financially affected? If no one would be, don't need to be insured. If yes, how much and for how long? Can they rebound after your death? Do also consider, how about when you fall sick and don't die? You'll definitely be financially affected, even if you're single. Again, how much and for how long would you be affected for? The rule of thumb is, if you have financial dependents: Get Death Coverage till they become independent for about 10 X of your annual income. And even if you don't have financial dependents: Get Critial Illness Protection for about 5 X of your annual income. I recommend this for life. So it'll end up with you having some Whole Life Cover and some Term cover. It's not one or the other.

Insurance

AIA Life Protection

Term Life Insurance

As a fresh grad, 300k CI coverage is good enough. You might want to explore life or term policy that cover about 5 times of your annual income should be fine. The only time that you need to revise your coverage is when you have new liabilities and responsibility (new house, first child etc)

Insurance

Whole Life Insurance

Endowment Policies

Term Life Insurance

Brandan Chen
Brandan Chen, Financial Planner at Manulife Singapore
Level 5. Genius
Answered on 08 May 2019
I am an Advisor with Manulife, but due to MAS regulations, we arent allowed to provide any recommendations online without having a full understanding of your profile. However, I can break down the basics for you via this comment. Firstly, we should first understand how much coverage we require for both Early CI and Late CI. Typically, we would suggest a coverage of about 5x of your annual income for coverage. For Early stage, typically about 1 - 2 x of your annual income. Secondly, what are the options available. There are typicall 3 options for you to take up. Whole Life Plan with ECI & CI rider, Term Plan with CI Rider, Multi-claim CI plans which is a term plan that only covers CI but allows for one to claim multiple times. Thirdly, What is your overall budget? My suggestion is that you should NOT spend more than 10% of your income on all your insurance including your health insurance and Personal accident insurance if any. Things to look out for: 1) No of conditions that are covered. For Manulife, we cover a total of 106 conditions, which is one of the more comprehensive CI plans in the market 2) Fine print on the definition of the conditions 3) For Multi-Claim CI, it would be good to take a look at the structure from the various insurers. Some insurers provide 0 waiting period for their ECI claims but do not allow you to claim from the same category of CI again, whereas some may have a waiting period of 1 year for multiple claims but yet do not restrict you in the category of CIs. In conclusion for Critical Illness plans, you may either get a combination of Whole Life and Term, or a Multi-claim CI plan depending on your budget and preference! As for endowment policies, there are typically 2 types, those with flexibility and those without. More often than not, the endowment plans with flexibility tend to generate lower returns as compared to those without flexibility. More importantly, before deciding on an endowment plan, do understand your current risk profile and your savings/investment objective. There are plenty of options for you to grow your money. You should definitely speak to a financial advisor to find out more! Lastly, feel free to connect with me via my email at [email protected] if you would like to have a further (non-obligatory) discussion on your personal financial planning.

Insurance

Term Life Insurance

Early Critical Illness (ECI)

Assuming the policies offer the same coverage for the same premium, always get from an insurance company. This is becos there will be someone servicing you if you get from insurance company, but not from the bank. Of course there is likelihood that your insurance agent is irresponsible or he/she may leave the company, but at least you still get higher chance of being serviced after purchaing the plan.
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