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Best Term Insurance Plan(Do Not Solicit for Pm)

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Old 05-03-2018, 09:55 AM   #3481
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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.
Which insurer will you choose for another direct term?
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Old 05-03-2018, 10:27 AM   #3482
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Which insurer will you choose for another direct term?
I will choose Manulife or AXA.
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Old 05-03-2018, 10:44 AM   #3483
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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?
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Old 05-03-2018, 04:29 PM   #3484
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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)!
Hi, does anyone else share the same opinion, or otherwise? Any input on this would be greatly appreciated.
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Old 06-03-2018, 02:18 PM   #3485
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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.
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Old 06-03-2018, 09:09 PM   #3486
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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.
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.
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Old 07-03-2018, 02:11 PM   #3487
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Can someone quote me for TM Term Assure please?

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

Thanks.
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Old 10-03-2018, 10:47 PM   #3488
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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_w...eld-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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Old 11-03-2018, 12:00 AM   #3489
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Obviously, term life policy is a must if you have dependents!
Estimate how much your dependents will need if you are not around, and buy an appropriate amount of term life to cover their needs. mortgage decreasing term would also be very helpful if you have mortgage loans so as to pay mortgage off if you are not around. Just need to insure to about 60 years old will do. Older than that premiums will increase exponentially (as a rule of thumb)!
These Sum Assured (SA) $ will be quite large, so only term life insurance is cheap enough for you to get insured with such large sum. Whole Life most people can't afford the premiums to get the same SA insurance coverage.

Medishield you can buy IP scheme when you are younger and still can buy.
When older if you feel you can't afford, you can still drop it.
But if don't have when young and when older and richer want to buy, sorry you probably can't buy anymore if you start to have illness.

Disability Income insurance you may want to consider if you working (and need to insure future stream of income)? Amount to buy is just to cover your household monthly expenses, and just need to insure till about 60 years old.

Term Critical Illness is good to have, but don't need to buy too much, $200k insured to 60 years old is probably good enough.

All others, like ILP, Whole Life, Endowment, ask them go fly kite.

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

Last edited by ervino; 11-03-2018 at 12:12 AM..
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Old 12-03-2018, 05:33 PM   #3490
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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
Hosp Plan is definitely good as an onstart, but do keep yourself updated with the current updates and news on the integrated shield plan riders.

Next up you can look at Term/WholeLife, been more than a century debate regarding which is better; both is good depends on what you are looking for. What amount of coverage will depends on what is your liabilities, e.g. (Families, spouse, children, house loans, etc), with more information, then can tailor what is best for you base on your current profile.
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Old 17-03-2018, 08:02 AM   #3491
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For term life policy till age 65, without CI, is Direct - AXA Term Lite the cheapest? If yes, is it priced lower than others due to certain exclusions in its t&c?
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Old 17-03-2018, 07:38 PM   #3492
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Hi all,

I am a 27 male non smoker with two elderly dependants...with an aim to start a family in the future. I am quite a noob when it comes to insurance so pardon my possibly dumb questions.

What does Integrated shield plans cover? Is it some form of hospitalisation cost coverage? If so, which insurer's plan is the best in terms of coverage, premium need not be cheapest but coverage must be good.

Also, critical illness is separate from the integrated shield plans right? If so, is it like a term insurance where you insure yourself for a period and they payout if *touch wood* you got any critical illness during your coverage period?

As for death, does the integrated shield plans or the one stated above cover death? If I wish to cover three areas, 1) Death 2) Hospitalisation 3) Critical illness, which company would be the best?

TIA
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Old 17-03-2018, 10:02 PM   #3493
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Hi all,

I am a 27 male non smoker with two elderly dependants...with an aim to start a family in the future. I am quite a noob when it comes to insurance so pardon my possibly dumb questions.

What does Integrated shield plans cover? Is it some form of hospitalisation cost coverage? If so, which insurer's plan is the best in terms of coverage, premium need not be cheapest but coverage must be good. (1)

Also, critical illness is separate from the integrated shield plans right? If so, is it like a term insurance where you insure yourself for a period and they payout if *touch wood* you got any critical illness during your coverage period?
(2)

As for death, does the integrated shield plans or the one stated above cover death? If I wish to cover three areas, 1) Death 2) Hospitalisation 3) Critical illness, which company would be the best? (1)

TIA
Answer to your questions:
1) Covers hospitalization cost. If there's such thing as a BEST plan, then no other insurers would survive besides the "best" insurer.

2) Critical Illness can be TERM or LIFE. Yes to your question.

3) Hospitalization doesn't cover death. CI yes. Again, if there's a BEST company, then by survival-of-the-fittest rule, no other insurer would survive.

You will need to re-define what you mean by BEST.
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Old 18-03-2018, 08:35 PM   #3494
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I am considering between two integrated Mediashield plan

AIA GoldMax A and Great Eastern Supreme Health P plus



Most people in this forum recommend AIA for private hospital, how come Great Eastern is much much cheaper???

and the coverage is around the same, is there any advantage to get AIA?
It's not cheaper.

The fact is that each may be cheaper in an individual age-range, but overall there's no clear winner.
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Old 19-03-2018, 02:59 AM   #3495
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I am considering between two integrated Mediashield plan

AIA GoldMax A and Great Eastern Supreme Health P plus



Most people in this forum recommend AIA for private hospital, how come Great Eastern is much much cheaper???

and the coverage is around the same, is there any advantage to get AIA?
The biggest flaw of your comparison is that you only compared the basic policy.
What about rider premiums and benefits?
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