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HDB flat paid fully with CPF is a big mistake?

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Old 26-06-2018, 10:43 AM   #16
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Yes correct. Plus even if you sell, the money goes back into your own CPF. Still yours.

And if the sale results in less than the CPF used + accrued interest, there is no need to top up the accrued interest in cash.
Yes, however if your house valuation appreciate more than your CPF interest, then even sell house also no need to worry.
Or if i can phrase it this way, if inflation out paces your CPF interest rate then you should be fine when you sell
Appreciate for the clarification guys!... Fully understood...

In that case, if I ever thinking of selling my BTO I need to take note of the CPF accrued interest amount incurred to be safe for the sales proceed...

Thanks again all!...
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Old 26-06-2018, 12:24 PM   #17
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just buy a term life lar
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Old 26-06-2018, 02:40 PM   #18
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Appreciate for the clarification guys!... Fully understood...

In that case, if I ever thinking of selling my BTO I need to take note of the CPF accrued interest amount incurred to be safe for the sales proceed...

Thanks again all!...
Yep the accrued interest is rather painful if you re a property investor and go CPF all in. Lol
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Old 26-06-2018, 04:26 PM   #19
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Appreciate for the clarification guys!... Fully understood...

In that case, if I ever thinking of selling my BTO I need to take note of the CPF accrued interest amount incurred to be safe for the sales proceed...

Thanks again all!...
You can know and monitor how much is your accrued interest at any time by login to your account via CPF website.
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Old 30-06-2018, 09:23 AM   #20
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wrong move in terms of 0.1% interest diff betwn hdb loan n cpf oa int rate.

not wrong move in terms of HPS. for a 300k reducing term mortgage, hdb hps is hundreds of dollars. aviva 1mill term is only 300+ to 400+ a year.
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Old 11-12-2018, 08:48 PM   #21
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just buy a term life lar
Ok, so im assuming that Term Life insurance is especially for HDB? What are the term life insurance available/recommended?

Got any ‘hidden costs’ to lookout for?

Cos HDB and CPF already make me so stressed liao
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Old 11-12-2018, 11:16 PM   #22
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Ok, so im assuming that Term Life insurance is especially for HDB? What are the term life insurance available/recommended?

Got any ‘hidden costs’ to lookout for?

Cos HDB and CPF already make me so stressed liao
It’s a form of insurance almost anyone can buy. Typically people buy it so that their loved ones (spouse and kids) have funds to take care of themselves in case one passes away.

Nothing to do with HDB. Except if you want to make sure your loved ones don’t need to worry about the roof over their heads if you pass away, then one option is to get a policy with a payout bigger than any loans you have.

If you want them to be millionaires if you pass, you can buy life insurance with a humongous payout too. But the premiums will be expensive.
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Old 12-12-2018, 01:23 PM   #23
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Ok, so im assuming that Term Life insurance is especially for HDB? What are the term life insurance available/recommended?

Got any ‘hidden costs’ to lookout for?

Cos HDB and CPF already make me so stressed liao
Stress means you bite more than you could chew.
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Old 12-12-2018, 02:22 PM   #24
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not entirely true for the HDB is 'free' where either one of the joint owner pass away.

i have encountered relative HPS only cover 50% cos HPS argument was that the cause of death was due to existing illness and this was "omitted" to declare on the deceased owner part which he later died of that health condition few years later, the surviving owner assumes full sole ownership, but is still liable to fulfill her part of the loan repayment. i have another friend, father passed away and surviving mother can stop paying for their loan repayment as it is fully paid off by the HPS coverage.

Last edited by mun_hoe; 12-12-2018 at 02:25 PM..
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Old 13-12-2018, 11:28 AM   #25
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not entirely true for the HDB is 'free' where either one of the joint owner pass away.

i have encountered relative HPS only cover 50% cos HPS argument was that the cause of death was due to existing illness and this was "omitted" to declare on the deceased owner part which he later died of that health condition few years later, the surviving owner assumes full sole ownership, but is still liable to fulfill her part of the loan repayment. i have another friend, father passed away and surviving mother can stop paying for their loan repayment as it is fully paid off by the HPS coverage.
From what i understand, the amount of cover should be established at point of insurance... HPS should have sent a insurance letter to advise on coverage and exemptions....

honestly, most insurance companies will have also Exempted the existing illnesses... so nothing to do with HPS....

So know what you are covered for... and please do not lie on the health declaration.... stupid insurers will dig and dig your medical history during the claiming process....
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Old 13-12-2018, 11:29 AM   #26
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Ok, so im assuming that Term Life insurance is especially for HDB? What are the term life insurance available/recommended?

Got any ‘hidden costs’ to lookout for?

Cos HDB and CPF already make me so stressed liao
if you are a fellow Sinkie who served NS... then try the AVIVA NS Group insurance... insure 1M to enrich your beneficiaries if you die before age 65....
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Old 13-12-2018, 11:51 AM   #27
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Ok, so im assuming that Term Life insurance is especially for HDB? What are the term life insurance available/recommended?

Got any ‘hidden costs’ to lookout for?

Cos HDB and CPF already make me so stressed liao
got serve ns? havent mr?

i recommend SAF GTL

the only con i can think of is no 1 time pay out

https://www.aviva.com.sg/en/faq/mind...insurance-faq/
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Old 16-02-2019, 09:53 PM   #28
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The pro of this is they get to earn risk-free interest from me, and I get to grow my CPF.
Risk-free? I would view it as high risk.
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Old 16-02-2019, 09:59 PM   #29
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Risk-free? I would view it as high risk.
how come?



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Old 17-02-2019, 02:57 PM   #30
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how come?



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How is lending 400k to one individual risk free? Trust issues aside, if anything happen to u, what compensation does the lender get?
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