HWZ Forums

Login Register FAQ Mark Forums Read

Newbie Guide: How to Find a Good Agent for Investment & Insurance?

Like Tree78Likes
Reply
 
LinkBack Thread Tools
Old 29-08-2012, 10:08 PM   #676
Junior Member
 
Join Date: Mar 2010
Posts: 64
yes I believe so.
__________________
Life's Great Journey

With Great Eastern, You are always covered !
gunsol90 is offline   Reply With Quote
Old 29-08-2012, 10:44 PM   #677
Member
 
Join Date: Jan 2011
Posts: 325
death and TPD is lump sum payout. You can have multiple policy inforce. Every policy will pay you the sum assured of the policy in a case of TPD/death and policy terminates. Whereas for hospital plan, it is reimbursement and you cannot 'profit' from it.
Death yes. But for tpd it depends. If I'm not wrong, Aia pays through 5 year payment, while ge pays in 3 years.

Got to read the terms and condition carefully.

Yes, you can have multiple plans with ci coverage n make claim if criteria met. But do take note, many buy products without a big picture.

They buy some life n term plan, then some saving with protection feature as well. IMO, one should always separate protection with savings/ investment. By mixing them up, its just too confusing and not effective.
__________________
There are lawyer of lawyers, doctor of doctors, advisor of advisors
iAdvisor is offline   Reply With Quote
Old 30-08-2012, 12:04 AM   #678
Junior Member
 
Join Date: Mar 2010
Posts: 64
I agree with iAdvisor's statement. IMO instead of buying multiple policies, you can just buy 1 for savings, 1 for protection, but before anything else hospitalisation coverage.

you can choose to do a hybrid of savings and protection but you have to find a Financial planner with integrity to give you your wants at the most effective cost.
__________________
Life's Great Journey

With Great Eastern, You are always covered !
gunsol90 is offline   Reply With Quote
Old 30-08-2012, 12:37 AM   #679
Senior Member
 
lasnoblur's Avatar
 
Join Date: Mar 2008
Posts: 2,351
Thanks all for the gd advice.
lasnoblur is offline   Reply With Quote
Old 13-09-2012, 08:40 AM   #680
Junior Member
 
Join Date: Feb 2012
Posts: 30
wow thanks for this. helpful
reaphux is offline   Reply With Quote
Old 20-09-2012, 01:34 PM   #681
Guest
 
Join Date: Sep 2012
Posts: 327
Smile Need Advise/Clarification/Opinion on insurance matter

Hi all,
I need some opinion on insurance matter.
i am a 21 year old full-time working adult and going to be part time student on jan 2013 (waiting for interview result) , keen on buying medical insurance for myself and my family

1. I am full time working

2. My mum is 50, father is 52, both still working , sis is 18, bro is 15

3. healthcare in singapore is very expensive, i want a medical insurance that covers for myself, my family

4. my mum has diabetes , father , sis and bro are healthy

5. i am healthy

6. i do not want any insurance that pays out during death, or any road traffic accidents or what not. i just want an insurance that helps cover expensive medical bills, if my family were to go to hospital, i want them to be in B1 ward at least. i do not need my insurance to pay me back when im old, i just want a good insurance that can cover my family in times of need, so they dont have to worry about money when they are sick.

7. is there a way for me to bypass the agent and just buy directly from the issuer so that i wont be incurring extra costs? Or no matter bypass or no bypass ifa/agent, the premium cost is the same?
8. i understand all singaporeans are covered by medisave and medisheild unless written to cpf board to opt out.
9. There are co-insurance cost and deductible cost, is there any insurance can claim 100% of hospital? Or refer to below, ts mention the most is “almost 100% of bills” ?
10. I would prefer use cpf to pay for my insurance if can since cpf money is hard to take out to use. >.< But all has co-insurance cost and deductible cost. Can i add rider for medishield-intergrated plan?

11. if i choose medishield-intergrated plan, will it be i have 2 plan? The basic and medi-shield-intergrated plan or it will be a combined plan and become 1 plan? Based from my understanding from moh website, it seems to be a combined plan and just need to pay to private insurer and claim from private insurer.

12. Some company claiming is quite slow, my fren’s mum claim from ntuc took 2-3 months compare to other insurance as she has 2 insurance, any views on this?
From my understanding, Basic = pay to cpf board , medishield-intergrated plan = pay to respective private insurer.

Thread starter has recommend the following prioritise plan :
(1) As-Charged Private H&S Shield Plan (e.g. NTUC Enhanced Income Shield, Aviva MyShield, and many others)
Function: Allow you to claim up to 90% of your hospital bills.
(2) Rider for Private H&S Shield Plan (e.g. NTUC Assist Rider, Aviva MyShield Plus, and many others)
Function: Allow you to claim almost 100% of your hospital bills (except the first $2000-3000).
So for my age, should i take up as what TS mention, take the as-chargerd private plan first before any other ci plan if , etc? Then when i can afford, then i take 1 plan by 1 plan recommend by TS personal preference?
*Borrow template from perspective.*
Thanks for the valuable input and a good lunch.
Cheers
XRegaX and Ezylryb like this.
Irene92323 is offline   Reply With Quote
Old 22-09-2012, 12:57 PM   #682
Member
 
Join Date: Nov 2011
Posts: 225
Premium cost will still be the same, regardless of whether you go thru an agt, or buy directly from the Life Insurer.

For Shield Plans, you can opt for Riders to take care of the Co-Insurance and Deductible. Added advantage is that you can use your Medisave monies to pay for the Shield Plan (not the Riders). Alternatively, there are also private non-shield hospital plans that cover 100% of your medical bills. Disadvantage is that you can only use cash to pay for it.

As for claims, from my own personal experience, it all depends on how fast the hospitals send the final bill, to the Life Insurer.

Yes, consider taking up a Shield Plan first, then look at other options for CI coverage.
__________________
http://futures-trading.blogspot.com
gerimegaly is offline   Reply With Quote
Old 05-11-2012, 05:44 PM   #683
Master Member
 
Kevin10's Avatar
 
Join Date: Oct 2001
Posts: 3,183
Medishield is default. Unless your parents do not have enough funds in medisave or they opt out. Seems like your main concern is hospital bills mainly, so yes, do look at integrated Shield from insurance. I recommend ntuc.

You mention you do not need death coverage, and want to cover parents when sick. So that will fall into critical illness policy. But many do not understand that ci only plan are usually expensive. Plans that cover death/total permanent disability/ci all is more cost effective at time.

Get an ifa, works out different variation, costing factor from various insurer so that you can make a sound decision.
Does Medishield covers hospital bills ?? I heard from my mum dat time my dad got leukamia and the total bill was more den 150K but was covered by medishield only and no other insurance plans. So is Medishield enough already juz for hospitalisation ?
__________________
YOU'LL NEVER WALK ALONE
Kevin10 is offline   Reply With Quote
Old 05-11-2012, 06:27 PM   #684
Member
 
Join Date: Jan 2011
Posts: 325
Does Medishield covers hospital bills ?? I heard from my mum dat time my dad got leukamia and the total bill was more den 150K but was covered by medishield only and no other insurance plans. So is Medishield enough already juz for hospitalisation ?
Medishield does cover hospitalized bill, but till a certain limit only (not as charged).

Base on today's medical cost, it's hard to be enough with just medishield alone.

The reason for the existence of integrated shield plan from insurance company, is to provide better medical coverage for the people.
iAdvisor is offline   Reply With Quote
Old 06-11-2012, 01:10 PM   #685
Master Member
 
Kevin10's Avatar
 
Join Date: Oct 2001
Posts: 3,183
Medishield does cover hospitalized bill, but till a certain limit only (not as charged).

Base on today's medical cost, it's hard to be enough with just medishield alone.

The reason for the existence of integrated shield plan from insurance company, is to provide better medical coverage for the people.
Thanks.. So with Medishield and GE Supremehealth plan should be good enough for hospital coverage right ?
__________________
YOU'LL NEVER WALK ALONE
Kevin10 is offline   Reply With Quote
Old 06-11-2012, 01:20 PM   #686
Member
 
Join Date: Jan 2011
Posts: 325
Thanks.. So with Medishield and GE Supremehealth plan should be good enough for hospital coverage right ?
Technically yes. But if you ask me, I still advise to go with ntuc enhanced income shield with assist rider instead.

If you look at the premium (cash rider), at older age the premium is quite significant.

Many people here plan their retirement rather late. All yourself this question, 'how much retirement fund are you planning at old age?' If 300-400 monthly is required to pay for hospital shield plan, how much do you left with? Should we plan more money for premium payment?

The wise choice is to take up something manageable and sustainable in long term.
iAdvisor is offline   Reply With Quote
Old 06-11-2012, 01:30 PM   #687
Master Member
 
Kevin10's Avatar
 
Join Date: Oct 2001
Posts: 3,183
Technically yes. But if you ask me, I still advise to go with ntuc enhanced income shield with assist rider instead.

If you look at the premium (cash rider), at older age the premium is quite significant.

Many people here plan their retirement rather late. All yourself this question, 'how much retirement fund are you planning at old age?' If 300-400 monthly is required to pay for hospital shield plan, how much do you left with? Should we plan more money for premium payment?

The wise choice is to take up something manageable and sustainable in long term.
Oh ok thanks.. Will take note of that. I am on GE supremehealth myself and now looking at the same policy for my mum since is paid using Cpf whom is only on Medishield and 1 GE Endowment plan.. Thanks..
__________________
YOU'LL NEVER WALK ALONE
Kevin10 is offline   Reply With Quote
Old 13-11-2012, 05:21 AM   #688
High Supremacy Member
 
wahkao3's Avatar
 
Join Date: Mar 2005
Posts: 26,602
book mark good read
wahkao3 is offline   Reply With Quote
Old 15-11-2012, 11:02 PM   #689
Member
 
Kazragore's Avatar
 
Join Date: Oct 2009
Posts: 300
Oh ok thanks.. Will take note of that. I am on GE supremehealth myself and now looking at the same policy for my mum since is paid using Cpf whom is only on Medishield and 1 GE Endowment plan.. Thanks..
While there, do also consider getting the totalshield upgrade for you and your mother. Since medisave account gives 4% return, its usually beneficial to save the money and let it roll rather than spend it on hospital bills. Although it IS actually meant to cover for healthcare, topping up a few dollars of cash to remove the co-insurance and deductible will be more than worth it in the longer term.
Kazragore is offline   Reply With Quote
Old 11-12-2012, 03:02 PM   #690
Junior Member
 
Join Date: Dec 2012
Posts: 2
Why would you want an insurance agent? They are a middle man with a wage that must be paid by the consumer. You can buy insurance directly from the companies without any assistance from agents.
__________________
https://www.nber.com/level-term-life-insurance/
bufordclaude is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On