With regards to DPS (Dependant Protection Scheme), will there be any difference in coverage from different providers such as Great Eastern and NTUC Income?
What are the pros and cons of each scheme? Which is better? Anyone bought these policies?
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Elijah Lee
21 Jan 2020
Senior Financial Services Manager at Phillip Securities (Jurong East)
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Pang Zhe Liang
21 Jan 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
The coverage is the same and you can understand the details here: https://www.blog.pzl.sg/dependents-protection-s...
The main difference is the insurance provider itself. As a result, there may be a slight difference in the level of service rendered, e.g. being able to view your policy online, turnover time for your enquiry.
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Brandan Chen
21 Jan 2020
Financial Planner at Manulife Singapore
Hi Elaine,
There is NO difference in terms of coverage for DPS provided by either insurer. Basicall...
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Hi Elaine,
There's no difference in coverage. However, you will want to note that the premiums will increase with age band, so at some point, it might actually be more cost effective to have your own term plan to get an adequate level of cover.