Best Term Insurance Plan(Do Not Solicit for Pm)

gazar1

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Term: Low premium high coverage. Use remaining savings to do own investment for future protection and retirement.

Whole life: Higher premium lower coverage. But includes guaranteed cash value + non guaranteed. May likely surrender during retirement years to get back amount of premium you have put in or more.

Is an apple to banana comparison. Which one do you need?

For people like me not investment savvy and 30yo only child in the family which will be a better choice?
 

akwl88

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For people like me not investment savvy and 30yo only child in the family which will be a better choice?

Will ur dependents be able to survive based on your payout shld u uplorry the next moment?
 

Bigoya

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For people like me not investment savvy and 30yo only child in the family which will be a better choice?

U do have an option to learn about investment.
Let's assume that you do not have time (or interest) to do that, that's fine too.

Looking at participating plan which could generates cash value on ur behalf (no doubts there'd be charges), it makes a lot better sense for you rather than if u Buy Term and Spend the Rest (BTSR) or Buy Term and Bochap the Rest (BTBR).
By bochap, i mean not even trying to grow the money with inflation just to at least breakeven.

So if we look at par plans, would a whole life plan be a good idea?

I can't think of much Pros if we compares it one of my recently developed idea (don't intend to share it publicly, yet).
But the main Cons would be that if u surrender it for the cash payout, you loose the cover, and if u keep the cover, you lock the cash. It's just inflexible.

N.B. I'm not even suggesting ILPs here btw.
 

rachzalia

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Hi all
Wondering if you can assist with quotation.
I'm 25yo this yr, F, non smoker.
Alr have 500k death/tpd + 300k ci under AIA but it only covers for 30years i.e. when im 54.
Thinking of increasing my coverage with additional 500k death/tpd up to 65 but not sure if i shld decrease my ci coverage with AIA (to 200k?) And then take up the 100k ci for up to 65yo instead.

Can anyone quote me for 500k/750k death/tpd (by itself) and also with 100k/200k ci for up to 65yo? Looking for term.

Thanks!!
 

longfart

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Hi, as someone who does not have any insurance coverage at the moment, may I ask if it’ll be more advisable to:
1. purchase all policies from a single company through a very trusted agent, or
2. purchase different policies from various companies that provide the same coverage at lower premiums?
 

JuniorLion

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Hi, as someone who does not have any insurance coverage at the moment, may I ask if it’ll be more advisable to:
1. purchase all policies from a single company through a very trusted agent, or
2. purchase different policies from various companies that provide the same coverage at lower premiums?

I'd rather go for option 2.
 

mSnooze

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Hi all
Wondering if you can assist with quotation.
I'm 25yo this yr, F, non smoker.
Alr have 500k death/tpd + 300k ci under AIA but it only covers for 30years i.e. when im 54.
Thinking of increasing my coverage with additional 500k death/tpd up to 65 but not sure if i shld decrease my ci coverage with AIA (to 200k?) And then take up the 100k ci for up to 65yo instead.

Can anyone quote me for 500k/750k death/tpd (by itself) and also with 100k/200k ci for up to 65yo? Looking for term.

Thanks!!

How much is your current coverage with AIA?

For your profile,

Death/TPD coverage only till age 65,
500k : $499.35/year.
750k : $696.70/year.

500k Death/TPD + CI till age 65,
100k CI : $617.60/year.
200k CI : $735.85/year.

750k Death/TPD + CI till age 65,
100k CI : $814.35/year.
200k CI : $932.60/year.

Pricing from Aviva.
 

Firexxgun

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Wondering if aviva direct term with ci till 65 with coverage 400k is good enough for single 30 year old non smoker?
 

JuniorLion

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Wondering if aviva direct term with ci till 65 with coverage 400k is good enough for single 30 year old non smoker?

Yes, if:
1) You do not have aging parents; and
2) You are not intending to get married and have children.
 

JuniorLion

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Hi thanks. If I do intend to get married in future what kinda terms coverage I need?

I'd go for 1mil coverage with MINDEF AVIVA GTL.
Or
I will buy another direct term with another insurer for 400k coberage. Total of 800k.
 

guywithnoname

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Hi

I need advice on my term life coverage.

My ANB is 28, male, non-smoker. Currently, I have the following plans:
  • GE Whole Life with ERB - $100K (Bought by my parents since I was 6yo)
  • Aviva MyProtector Plus - $1M until 56yo

I am planning to settle down with my gf and buy a flat this year, so I wish to restructure my coverage.

I am wondering if I should:
  1. keep my current plans (not sure if keeping the whole life plan is ideal)
  2. cancel the whole life plan and get another term life that covers me until 70yo
  3. cancel both plans and get a term life that covers me until 70yo

Also, is getting a multi pay CI rider a good idea?
 

longfart

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Hi, as someone who does not have any insurance coverage at the moment, may I ask if it’ll be more advisable to:
1. purchase all policies from a single company through a very trusted agent, or
2. purchase different policies from various companies that provide the same coverage at lower premiums?
I'd rather go for option 2.
Choose 2, and compare quotations from various companies and get the best deal for each type of policies (best deal means not the cheapest but the cheapest with the most comprehensive coverage)!
Don't just buy cheapest but doesn't cover this and cover that and excessively high excess etc (e.g. like car insurance)! :s13:

Hi, does anyone else share the same opinion, or otherwise? Any input on this would be greatly appreciated.
 

Firexxgun

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Need some help on these two term plan. Which is better and why? Both coverage 1 Mil till 65.

Thanks in advance.
0XVSRFRl.jpg
 

JuniorLion

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Need some help on these two term plan. Which is better and why? Both coverage 1 Mil till 65.

Thanks in advance.
0XVSRFRl.jpg

Since Aviva is $217 cheaper per year, I'd go for Aviva.

Though, for term, there's no guarantees for the premiums. The insurer can choose to increase any time they like.
 

bluechill

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Can someone quote me for TM Term Assure please?

ANB 30, male, cover until 65, $300k, include CI rider.

Thanks.
 

JuniorLion

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Hi guys,

I have some question

I am currently 29 year old, salary is 2.8K after CPF

want to buy a long term medical insurance, I know everyone have medishield

Is AIA HealthShield Gold Max B good for people like me?

Is there any term policy I should buy at this age, never have a insurance b4

First and foremost, get the best shield plan you can afford. If you think that Class A plans suits you (AIA HealthShield Gold Max B falls into this category), then you can do research on all Class A plans. The website is right here:
https://www.moh.gov.sg/content/moh_...s/comparison--of-integrated-shield-plans.html

Second, if you intend to get married and have children, you will need some sort of critical illness plans and/or term/life insurance for that. My personal preference is to get a Term CI and a Whole Life Insurance (although some people will have divergent views).

Third, after you've settled the first 2, you can consider investing your money.
 
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