Parc Greenwich EC

[skpuppy]

Some may not be able to be covered under term life due to medical history. Hence, the only way is to opt for mortgage insurance which is less stringent/requires no medical underwriting.

I have also come across a coverage which the insured persons will receive all the premiums paid during the coverage period if no claim is made. But the premium is way much higher.



There is a clause that indicates no payout will be made if there is a claim made within the 1st year of inception.

But better than those who asked u health questions which occurs 10 years ago. Suck thumb one la. So if u take ocbc mortgage insurance, you cannot die within 1 year? Talk cock lei. Haha! I thought ocbc become good all of a sudden. In the end, still…….lucky I have ocbc shares. ******* clause but

 

[dreamer_toons]

For mortage loan insurance, anyone knows how it works? For mine, we're getting from OCBC. But does each household need to buy 1 x loan insurance or does the husband and wife each must purchase 1 x ocbc loan insurance respectively (meaning need to pay double the amount for 2 pax coverage)?

I was told by my agent we need to buy the latter. This is because we're buying insurance to cover each other. So if one of us pass away, the other still can claim the insurance to pay the loan. True?

To be safe, it is better for each party to be covered with the full loan amount. Also note that some policies work on reducing loan. The loan amount reduces over time during the loan tenure and the premium to cover this loan is reduced as well (reduced loan = reduced risk). However, the insured persons grow older over the time too (Older = higher risk of illness/death = premium increase).

I heard that some couples want to save money by covering half the amount for each insured person; ie the couple cover $500k each for a $1m loan. Unfortunately, the spouse passed on and the surviving party needed to come up with the remaining half to pay off the loan.

 

[dreamer_toons]

But better than those who asked u health questions which occurs 10 years ago. Suck thumb one la. So if u take ocbc mortgage insurance, you cannot die within 1 year? Talk cock lei. Haha! I thought ocbc become good all of a sudden. In the end, still…….lucky I have ocbc shares. ******* clause but

Yes, I saw that clause in the policy. So pray nothing happens within the 1st 12 months

 

[skpuppy]

To be safe, it is better for each party to be covered with the full loan amount. Also note that some policies work on reducing loan. The loan amount reduces over time during the loan tenure and the premium to cover this loan is reduced as well (reduced loan = reduced risk). However, the insured persons grow older over the time too (Older = higher risk of illness/death = premium increase).

I heard that some couples want to save money by covering half the amount for each insured person; ie the couple cover $500k each for a $1m loan. Unfortunately, the spouse passed on and the surviving party needed to come up with the remaining half to pay off the loan.

Actually all these are risk assessment. Insurance is painful but super useful if 1 pass on. I assume most will have insurance already so a simple mortgage insurance will suffice.

 

[RandomPlankton]

Yes, I saw that clause in the policy. So pray nothing happens within the 1st 12 months

Won't pass on one la. Not so easy to die..

 

[fluxos]

so nice to see people being responsible and good planners.

I have max out NS Aviva term (1million), 500k early critical/death and there is usual company insurance as well. If I pass, my family also gets all my cpf, stocks and crypto.

Any more than that, my spouse might start plotting my death. Haha.

 

[skpuppy]

Won't pass on one la. Not so easy to die..

Now Covid19

 

[skpuppy]

so nice to see people being responsible and good planners.

I have max out NS Aviva term (1million), 500k early critical/death and there is usual company insurance as well. If I pass, my family also gets all my cpf, stocks and crypto.

Any more than that, my spouse might start plotting my death. Haha.

I find the critical illness and early critical illness rather expensive. The premium increases every 5 years

 

[Passerboy]

so nice to see people being responsible and good planners.

I have max out NS Aviva term (1million), 500k early critical/death and there is usual company insurance as well. If I pass, my family also gets all my cpf, stocks and crypto.

Any more than that, my spouse might start plotting my death. Haha.

Crypto is one asset that could see exponential growth (or fall), good to have some.

 

[NiShiZhu]

Crypto is one asset that could see exponential growth (or fall), good to have some.

I only trust my milo tin

 

[Passerboy]

I only trust my milo tin

U preparing for next year launches alr ah, storing cold hard cash in the tin next year take out use.

 

[fluxos]

I only trust my milo tin

Did you check your milk tin for bugs? Some ah ma keep in tin, got makan by bugs.

https://mothership.sg/2020/12/malaysia-woman-notes-insect-destroy/

 

[jeng3838]

Just get MRTA. Mortgage reducing term insurance.

 

[NiShiZhu]

U preparing for next year launches alr ah, storing cold hard cash in the tin next year take out use.

As I grow older, I realize I more humji

 

[Passerboy]

As I grow older, I realize I more humji

Is that a reason why buying trend seems younger now haha.. next year seems like it for many waiting on the side lines. Marina View $23xxpsf ok to buy?

 

[NiShiZhu]

Is that a reason why buying trend seems younger now haha.. next year seems like it for many waiting on the side lines. Marina View $23xxpsf ok to buy?

U buy a few times u will get to know profit made nowadays is not as rosy as last time. Maybe that’s y become more humji.
Marina view 2.3kpsf can throw in cheque la I guess

 

[CaptainSGP]

Just get MRTA. Mortgage reducing term insurance.

The level term market is so competitive at $1m sum insured that it may cost the same or less to get level term instead

 

[CaptainSGP]

Is that a reason why buying trend seems younger now haha.. next year seems like it for many waiting on the side lines. Marina View $23xxpsf ok to buy?

I wonder what's everyone's age here LOL

 

[skpuppy]

The level term market is so competitive at $1m sum insured that it may cost the same or less to get level term instead

Actually if u get $1mil level term, will be cheaper than OCBC mortgage term. But u need to go through the scrutiny.

 

[CaptainSGP]

Actually if u get $1mil level term, will be cheaper than OCBC mortgage term. But u need to go through the scrutiny.

Yes, cheaper assuming you are able to get standard or preferred rates with full medical underwriting.