Best Term Insurance Plan(Do Not Solicit for Pm)

boredboiboi

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for company Av, is it possible to generate quotes with a base of 50k, but smaller multiplier?

for company Ai, do they have a 10-15yr premium term policy?

Av yes 50k base with lower multiplier means premium also higher
Ai only have 12 or 20 years payment.

Company AV

Till age 65 ,10 years (50k x 3) - $3307/year
Till age 65, 20 years (50k x 3) - $1985.50/year
Till age 70 ,10 years (50k x 3) - $3805/year
Till age 70 ,20 years (50k x 3) - $2279.50/year

Wait for company M system to be up. Its should be the cheapest for the 5 times multiplier. And its having 15% off 1st year premium.
 
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moejoseph

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Hi new member here.

I graduated recently and am looking to buy insurance for whole life to get ECI and CI coverage. Am trying to compare the policies from different companies.
I currently have aviva group term insurance (since army), and hospitalisation.

Not sure if this is the right thread but I couldn't find a whole life thread.. :s22:

Anyone knows of the numbers for these policies from the various companies?
25y/o non-smoking male
Base 30k and 40k
(TPD/death/ECI/CI - all 150k and all 200k)
Multiplier x5
Coverage till 65/70/75
Premium term 10/15/20

Thank you!!!

From AXA Direct

1) Death/TPD/ECI $30k with 5x multiplier ($150k till age 70)
Pay 20 years - $1716/year
Pay 10 years - $2935.50/year

2) Death/TPD/ECI $40k with 5x multiplier ($200k till age 70)
Pay 20 years - $2288/year
Pay 10 years - $3914/year

Quoted for ECI rider coz ECI comprise of CI as well. Unless you would like to split them up, but total cannot exceed base ($30k/$40k), so can only so either $15k ECI +$15k CI or $20k ECI +$20k CI
 

agent_719

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Hi new to insurance (fresh grad started working since June).

Looking at GE, been quoted and considering:

SupremeHealth P Plus + Classic Riders

GREAT term (till 65 years old)
- sum assured 1 million
- TPD riders sum assured 1 million
- Living Care Riders Sum assured 500k (CI components)
- PayAssure Rider 65 (DII component)

Presently have
- NTUC Income DPS
- Aviva Group Term (280k Term life + 100k PA)
- AIA Prime Life (whole life plan since I was born)
- Company Insurance able to claim out patients fee etc

Myself
- 27 next birthday
- non smoker

Questions
- should I purchase DII as a separate policy?
- is the sum assured too high? It’s within my Budget but I saw people sharing Death should be 10x and CI is 5x of annual income (presently quoted is much higher)
- shld I be looking to cover till 65,70,75?

TIA

Posted from PCWX using iPhone10,5
 

boredboiboi

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Hi new to insurance (fresh grad started working since June).

Looking at GE, been quoted and considering:

SupremeHealth P Plus + Classic Riders

GREAT term (till 65 years old)
- sum assured 1 million
- TPD riders sum assured 1 million
- Living Care Riders Sum assured 500k (CI components)
- PayAssure Rider 65 (DII component)

Presently have
- NTUC Income DPS
- Aviva Group Term (280k Term life + 100k PA)
- AIA Prime Life (whole life plan since I was born)
- Company Insurance able to claim out patients fee etc

Myself
- 27 next birthday
- non smoker

Questions
- should I purchase DII as a separate policy?
- is the sum assured too high? It’s within my Budget but I saw people sharing Death should be 10x and CI is 5x of annual income (presently quoted is much higher)
- shld I be looking to cover till 65,70,75?

TIA

Posted from PCWX using iPhone10,5
U got group term and u still buy a 1 million. U got so many dependents?

Since u got group term already. Do up the hospital plan first then DII.
U already mentioned is much higher, why the agent quote u so high or u requested?
 

agent_719

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U got group term and u still buy a 1 million. U got so many dependents?

Since u got group term already. Do up the hospital plan first then DII.
U already mentioned is much higher, why the agent quote u so high or u requested?

Thanks for prompt reply. Was quoted.

Will do up the hospital first.

Just read the Aviva thread. My Aviva GTL is under SAF. So I can actually consider adding DII from there?

Posted from PCWX using iPhone10,5
 

xtwis7

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The TotalCare Classic is a very cost effective option for hospitalisation which even caps your co-payment at $3k when going to a panel doctor.

One consideration of having DII (PayAssure) as a rider is that in event somehow you decide to terminate the term insurance, all riders will be terminated along with it.

With life expectancy increasing every generation, the likelihood that we will remain healthy at 65 gets higher too so that’s why more people are looking at term coverage till 85 if they’re using the mortality. Otherwise, ask yourself when do you expect to start a family and you’ll be able to figure out when does your protection for dependents ends. Even then, not having dependents to take care of doesn’t mean you won’t need some coverage for yourself.

The biggest limitation of our hospitalisation plan is that non-standard or trial drugs/treatment are not covered so that’s where your term insurance can help you.

Hi new to insurance (fresh grad started working since June).

Looking at GE, been quoted and considering:

SupremeHealth P Plus + Classic Riders

GREAT term (till 65 years old)
- sum assured 1 million
- TPD riders sum assured 1 million
- Living Care Riders Sum assured 500k (CI components)
- PayAssure Rider 65 (DII component)

Presently have
- NTUC Income DPS
- Aviva Group Term (280k Term life + 100k PA)
- AIA Prime Life (whole life plan since I was born)
- Company Insurance able to claim out patients fee etc

Myself
- 27 next birthday
- non smoker

Questions
- should I purchase DII as a separate policy?
- is the sum assured too high? It’s within my Budget but I saw people sharing Death should be 10x and CI is 5x of annual income (presently quoted is much higher)
- shld I be looking to cover till 65,70,75?

TIA

Posted from PCWX using iPhone10,5
 

boredboiboi

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Thanks for prompt reply. Was quoted.

Will do up the hospital first.

Just read the Aviva thread. My Aviva GTL is under SAF. So I can actually consider adding DII from there?

Posted from PCWX using iPhone10,5

Aviva group dii is up to 50% of income covered only.
 

BBCWatcher

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With life expectancy increasing every generation, the likelihood that we will remain healthy at 65 gets higher too so that’s why more people are looking at term coverage till 85 if they’re using the mortality. Otherwise, ask yourself when do you expect to start a family and you’ll be able to figure out when does your protection for dependents ends. Even then, not having dependents to take care of doesn’t mean you won’t need some coverage for yourself.
I don't follow your logic. If you no longer have dependents you no longer need life insurance.

If you're becoming a parent at age 50, for example, then maybe term life insurance to age 70 or even 75 makes a little sense, if you cannot self-insure anyway. There are a few people becoming parents at age 60, but it's not exactly common, and self-insurance becomes more likely.

The biggest limitation of our hospitalisation plan is that non-standard or trial drugs/treatment are not covered so that’s where your term insurance can help you.
Maybe, maybe not. It depends whether the condition is claimable. However, you have more cash when your premiums are lower, and I'm quite sure cash can buy all sorts of useful things including experimental drugs.
 

xtwis7

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No matter how much cash one has, experimental drugs really don’t come by cheap. Typically it can cost you a few thousand every month. Even if the condition itself is claimable, the standard treatment has no issues. It really depends on whether the treatment has been recognised as standard and from my experience, it takes at least 4-5 years on average for a drug to be approved by HSA before it can be considered standard.

Maybe, maybe not. It depends whether the condition is claimable. However, you have more cash when your premiums are lower, and I'm quite sure cash can buy all sorts of useful things including experimental drugs.

As for insuring yourself once dependents are fully independent, what I meant was that yes they’re self sufficient but parents also should not burden their children with expectations that medical bills will be paid for by your children or your retirement pool.
 

soneat

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No matter how much cash one has, experimental drugs really don’t come by cheap. Typically it can cost you a few thousand every month. Even if the condition itself is claimable, the standard treatment has no issues. It really depends on whether the treatment has been recognised as standard and from my experience, it takes at least 4-5 years on average for a drug to be approved by HSA before it can be considered standard.


As for insuring yourself once dependents are fully independent, what I meant was that yes they’re self sufficient but parents also should not burden their children with expectations that medical bills will be paid for by your children or your retirement pool.

Just sharing. I agree that life insurance (especially for critical illness is essential). Many discussions here r based on theory... One has to go through it to understand the real situation.

1. MOH decides if a drug is in the standard drug list or non standard drug list.
2. Medicine on standard drug list are generally covered by shield plans, and subsidised if one has the relevant CSC card, CHAS card, PG card etc.
3. Medicine on non standard drug list are typically not covered and not subsidised.
4. Non standard drugs can be part of the standard recommended treatment. As long as it is non standard drug, Singaporeans would receive no subsidy even if one chose to be on Class C.
5. Sometimes the treatment would need a combination of non-standard drugs, and the cost for the cost alone is 5 digit, per month, recurring.
 
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xtwis7

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Thanks for sharing. Maybe you’ve had a personal experience or a family member with treatment hence your insight. I believe HSA falls within MOH so technically all same same?

Just sharing. I agree that life insurance (especially for critical illness is essential). Many discussions here r based on theory... One has to go through it to understand the real situation.

1. MOH decides if a drug is in the standard drug list or non standard drug list.
2. Medicine on standard drug list are generally covered by shield plans, and subsidised if one has the relevant CSC card, CHAS card, PG card etc.
3. Medicine on non standard drug list are typically not covered and not subsidised.
4. Non standard drugs can be part of the standard recommended treatment. As long as it is non standard drug, Singaporeans would receive no subsidy even if one chose to be on Class C.
5. Sometimes the treatment would need a combination of non-standard drugs, and the cost for the cost alone is 5 digit, per month, recurring.
 

moejoseph

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Just sharing. I agree that life insurance (especially for critical illness is essential). Many discussions here r based on theory... One has to go through it to understand the real situation.

1. MOH decides if a drug is in the standard drug list or non standard drug list.
2. Medicine on standard drug list are generally covered by shield plans, and subsidised if one has the relevant CSC card, CHAS card, PG card etc.
3. Medicine on non standard drug list are typically not covered and not subsidised.
4. Non standard drugs can be part of the standard recommended treatment. As long as it is non standard drug, Singaporeans would receive no subsidy even if one chose to be on Class C.
5. Sometimes the treatment would need a combination of non-standard drugs, and the cost for the cost alone is 5 digit, per month, recurring.

Yes this is one aspect many missed out. Not jist medicine, i have heard that some treatment out of the standard ones are not included in Shield plan as well.

Now with upcoming changes to CI definitions, i wonder if hospital side will be stricter/make changes to their list of standard/non-standard drugs/treatment too
 

BBCWatcher

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No matter how much cash one has, experimental drugs really don’t come by cheap.
Let’s not engage in hyperbole. I’m quite sure Jeff Bezos isn’t worried about his drug prices.

As for insuring yourself once dependents are fully independent, what I meant was that yes they’re self sufficient but parents also should not burden their children with expectations that medical bills will be paid for by your children or your retirement pool.
OK, but that’s not life insurance. That’s some combination of medical, long-term care, and/or longevity insurance. Of course greater wealth still works.
 

xtwis7

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Yes, let’s not go there since most of us will not be the 0.1 or 1% that basically can self insure. I was just saying that non-standard treatment which is not covered is costly and not everyone is able to consider them as a option due to financial reasons.

Let’s not engage in hyperbole. I’m quite sure Jeff Bezos isn’t worried about his drug prices.


OK, but that’s not life insurance. That’s some combination of medical, long-term care, and/or longevity insurance. Of course greater wealth still works.
 

soneat

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Thanks for sharing. Maybe you’ve had a personal experience or a family member with treatment hence your insight. I believe HSA falls within MOH so technically all same same?

Yes have experienced. I can't say whether they r same same or not but i can say it is MOH that decides what goes into the Standard Drug List.
 

soneat

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Yes this is one aspect many missed out. Not jist medicine, i have heard that some treatment out of the standard ones are not included in Shield plan as well.

Now with upcoming changes to CI definitions, i wonder if hospital side will be stricter/make changes to their list of standard/non-standard drugs/treatment too

For sure, shield plan is absolutely essential and can cover many scenarios and conditions. However, with aging population and medical advancement, there is a whole lot of scenarios (drugs and treatment) that aren't covered (or subsidised). Not even PG card, CSC card (any of the 4 schemes) will cover them. Also, sometimes... It is not as simple as assuming when we r stricken with chronic critical illness, it is 'easier' to just let go and give up treatment...
 

Markerink

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Anyone bought or claim from FWD before?

Hi, I just want to ask whether anyone has experience with FWD's term life/ CI policies?

I recently bought their Term life policy as their product summary showed that all CI terms haven't changed to the new LIA terms.

Upon purchase and receiving the actual policy, I found out that all the terms in my policy has changed.

I called up their hotline and they apologised about their mistake putting up the wrong product summary, and that they can't change my current policy also but I'm free to refund during freelook period. :s11:

Did anyone experience the same thing?
Also, has anyone made claims from them? Would really like to find out more prior making a final decision.

Thnks in advance!
 

winthony

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Hi, I just want to ask whether anyone has experience with FWD's term life/ CI policies?

I recently bought their Term life policy as their product summary showed that all CI terms haven't changed to the new LIA terms.

Upon purchase and receiving the actual policy, I found out that all the terms in my policy has changed.

I called up their hotline and they apologised about their mistake putting up the wrong product summary, and that they can't change my current policy also but I'm free to refund during freelook period. :s11:

Did anyone experience the same thing?
Also, has anyone made claims from them? Would really like to find out more prior making a final decision.

Thnks in advance!

Could be a genuine mistake on their side. That being said, other insurers are still on the old CI definition so you might want to consider that as well.

I did claims for FWD motor insurance before and they are relatively alright in paying out! Hope it helps :)
 

moejoseph

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Hi, I just want to ask whether anyone has experience with FWD's term life/ CI policies?

I recently bought their Term life policy as their product summary showed that all CI terms haven't changed to the new LIA terms.

Upon purchase and receiving the actual policy, I found out that all the terms in my policy has changed.

I called up their hotline and they apologised about their mistake putting up the wrong product summary, and that they can't change my current policy also but I'm free to refund during freelook period. :s11:

Did anyone experience the same thing?
Also, has anyone made claims from them? Would really like to find out more prior making a final decision.

Thnks in advance!

Aviva has also changed to the new definition from what i heard, not just their SAF group term but also the normal whole life and term as well, can anyone confirm this?
 
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