Getting started with insurance

[boredboiboi]

oh wah, okk alright bro, thank you so much for your help bro. rly glad i found this page

No problem. Feel free to ask me.
Now the multipay become version 4 already. Very different from version 3

 

[soneat]

Always? No ar. Last few years is on tbe higher side.
Even if it does cut bonus, u already save on the premium, u can use the difference and grow too.
Now in history all insurers cut bonus before already, even TM that nv cur bonus before, cut bonus this year.

For par plans, I believe insurers have to have a mix of local bonds, overseas bonds, local equities, overseas equities and other assets. In order to have the "guaranteed" components, they typically hold 70% in fixed income assets and as we all know, we have been living in a low interest environment for very long. So quite naturally, the par fund returns will not be that great and is declining if we look at a longer time horizon...so if they cut bonus, it is understandable, as much as we don't like it.

Having said that, I think the ethics of the insurer is very important. My personal experience as follows:
AIA: Cut and cut and cut (3 times over the years). Never restore a single cent back during better times.
GE: So far so good. There was 1 year ( I think 3 years back?) they declared an additional 1% to reward the policyholder. As of now, it is better than the initial projection.
Income: They did a major re-structure after Tan Kin Lian left...so the structure of the plan was also "revamped". As of now, it is better than the initial projection.
TM: No change.

I am not saying GE/Income/TM is better than AIA.

The lesson learnt here is diversify - don't trust a specific insurer too much.

 

[boredboiboi]

For par plans, I believe insurers have to have a mix of local bonds, overseas bonds, local equities, overseas equities and other assets. In order to have the "guaranteed" components, they typically hold 70% in fixed income assets and as we all know, we have been living in a low interest environment for very long. So quite naturally, the par fund returns will not be that great and is declining if we look at a longer time horizon...so if they cut bonus, it is understandable, as much as we don't like it.

Having said that, I think the ethics of the insurer is very important. My personal experience as follows:
AIA: Cut and cut and cut (3 times over the years). Never restore a single cent back during better times.
GE: So far so good. There was 1 year ( I think 3 years back?) they declared an additional 1% to reward the policyholder. As of now, it is better than the initial projection.
Income: They did a major re-structure after Tan Kin Lian left...so the structure of the plan was also "revamped". As of now, it is better than the initial projection.
TM: No change.

I am not saying GE/Income/TM is better than AIA.

The lesson learnt here is diversify - don't trust a specific insurer too much.

Yup correct. Just like always being said, past not equal future.

 

[nicccccs]

No problem. Feel free to ask me.
Now the multipay become version 4 already. Very different from version 3

Bro, last time the multipay CI was called to be one of the best in market, with the 4th edition is it still good? Or any other insurers are better? (eg power critical aia)


Thanks so much for your help bro

 

[boredboiboi]

Bro, last time the multipay CI was called to be one of the best in market, with the 4th edition is it still good? Or any other insurers are better? (eg power critical aia)


Thanks so much for your help bro

I just seen. Its better than 3( the previous version)
Lesser restrictions, no longer group in pots.

 

[nicccccs]

I just seen. Its better than 3( the previous version)
Lesser restrictions, no longer group in pots.

Hi bro, need trouble you again...

For Tokio term life until age 65, SA 300k + Multipay CI rider (SA 100k) until age 75 and 85 is how much respectively?

For my 21y/o m, no smoker

 

[boredboiboi]

Hi bro, need trouble you again...

For Tokio term life until age 65, SA 300k + Multipay CI rider (SA 100k) until age 75 and 85 is how much respectively?

For my 21y/o m, no smoker

TM cannot add MCI as rider for term
Unless u meant 2 different plan.
Now A is better than TM. Alot lesser restriction.

 

[nicccccs]

TM cannot add MCI as rider for term
Unless u meant 2 different plan.
Now A is better than TM. Alot lesser restriction.

ya, i meant 2 different plan. Can i get quote for that pls brother?

If i want a term until age 65(SA 300k, cover TPD) + MUltipay CI until age 70/75 either standalone or as rider, which one is best right now?

 

[boredboiboi]

ya, i meant 2 different plan. Can i get quote for that pls brother?

If i want a term until age 65(SA 300k, cover TPD) + MUltipay CI until age 70/75 either standalone or as rider, which one is best right now?

Only standalone.
No rider for tm multipay.
Even aviva remove to add as rider
Most likely left axa only

No best to me but which structure is better. After see A version 4. Its seems very good
Why ur coverage years keep changing de? From 75/85 then 70/75. Which to quote for multipay?

Term
Company T - $279.30/year

Multipay 100k
Company T
Till 70 - $1000/year
Till 75 - $1120/year

Company A
Till 70 - $983/year
Till 75 - $1192/year

Company M
Till 70 - not available
Till 75 - $1068.40/year

Company X (no extra payout for late stages ci while other has)
Till 70 - $812/year
Till 75 - $918/year

 

[nicccccs]

Only standalone.
No rider for tm multipay.
Even aviva remove to add as rider
Most likely left axa only

No best to me but which structure is better. After see A version 4. Its seems very good
Why ur coverage years keep changing de? From 75/85 then 70/75. Which to quote for multipay?

Term
Company T - $279.30/year

Multipay 100k
Company T
Till 70 - $1000/year
Till 75 - $1120/year

Company A
Till 70 - $983/year
Till 75 - $1192/year

Company M
Till 70 - not available
Till 75 - $1068.40/year

Company X (no extra payout for late stages ci while other has)
Till 70 - $812/year
Till 75 - $918/year

Thank you so much boredboiboi for your quotes... usually multipay ppl is get till wat age? So standalone multipay, if i dowan X and M, the new A is better?

 

[boredboiboi]

Thank you so much boredboiboi for your quotes... usually multipay ppl is get till wat age? So standalone multipay, if i dowan X and M, the new A is better?

Yup new A is better.
Normally multipay till age 70 or 75

 

[canopus88]

Need the following quotes:

1. One million term up to 70/75 -47/m/non smoker

 

[xtwis7]

Hi. I suppose you’re 1973 with Birthday not over yet so that makes you 47ANB. If your birthday has past, backdating is still possible provided it’s within the past 6 months. Quotes below are for GE’s Great Term.

Till 70 - $2,037.50 (23 yrs term)
Till 75 - $2,554.90 (28 yrs term)

Need the following quotes:

1. One million term up to 70/75 -47/m/non smoker

 

[boredboiboi]

Need the following quotes:

1. One million term up to 70/75 -47/m/non smoker

Pure death/tpd only?
47 is next or last birthday?

1m death/tpd
Company A
Base on age next birthday 47 till 70 - $2106.05/year
Base on age next birthday 47 till 75 - $2706.40/year

Base on age next birthday 48 till 70 - $2236.35/year
Base on age next birthday 48 till 75 - $2851.15/year

Company T
Base on age next birthday 47 till 70 - $2140/year
Base on age next birthday 47 till 75 - $2645/year

Base on age next birthday 48 till 70 - $2291/year
Base on age next birthday 48 till 75 - $2826/year

Company S
Base on age next birthday 47 till 70 - $2059.32/year
Base on age next birthday 47 till 75 - $3108.04/year

Base on age next birthday 48 till 70 - $2189.01/year
Base on age next birthday 48 till 75 - $3304.64/year

 

[winthony]

Need the following quotes:

1. One million term up to 70/75 -47/m/non smoker

Hello there!

I assumed you are anb 47? In that case, for 1 mil term, Company A is still giving 20% perpetual discount so it will be :

Till 70 : $2106.05
Till 75: $2706.40

Company S till 70 would be cheaper at $2059.32 but till 75 would be $3108.04

 

[Kimberlynghh]

hi all,

it was prob abt 5 years ago since i started getting insurance coverage (currently covered with whole life insurance and some CI riders).



now looking into adding coverage given change in income/expenses, and term life (till age 75, m anb 30 now) is one area im looking to add:

1m Death/tpd
ci 500k
eci 200k

any recommendations? or any good agents that can review my portfolio to supplement my coverage?

thank you.

Hi there,
I would be keen to give you portfolio a review if you would let me.

Regards,

Kim

 

[pokkajas]

hi all,

it was prob abt 5 years ago since i started getting insurance coverage (currently covered with whole life insurance and some CI riders).

now looking into adding coverage given change in income/expenses, and term life (till age 75, m anb 30 now) is one area im looking to add:

1m Death/tpd
ci 500k
eci 200k

any recommendations? or any good agents that can review my portfolio to supplement my coverage?

thank you.

heres some useful links i looked at for term life insurance..

https://www.policypal.com/blog/insurance/best-term-life-plans-in-singapore/
https://blog.seedly.sg/term-life-insurance-singapore

 

[drowningfish101]

heres some useful links i looked at for term life insurance..

https://www.policypal.com/blog/insurance/best-term-life-plans-in-singapore/
https://blog.seedly.sg/term-life-insurance-singapore

So I'm also new too insurance. As I looked more into the policypal's website, i realised that there are actually q a number of insurance that you'd be automatically enrolled for; some of which you can opt out for like DPS. So I was just wondering how many insurance there are that you will be automatically enrolled in for?

PS. The page I read: https://www.policypal.com/blog/insurance/dependants-protection-scheme/

 

[boredboiboi]

So I'm also new too insurance. As I looked more into the policypal's website, i realised that there are actually q a number of insurance that you'd be automatically enrolled for; some of which you can opt out for like DPS. So I was just wondering how many insurance there are that you will be automatically enrolled in for?

PS. The page I read: https://www.policypal.com/blog/insurance/dependants-protection-scheme/

Depends on age and some other thing.
1) DPS ( have option to op out )
2) eldershield ( going to be careshield soon) (age 30-40 compulsory for careshield)
3) medishield life (compulsory)

 

[amazingneil]

Is DPS worth or should I opt out..?