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Best Term Insurance Plan(Do Not Solicit for Pm)

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Old 01-08-2020, 05:05 PM   #5131
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Thanks everyone for accomodating me while I try to figure out something for myself. Can someone kindly assist to generate for the following

ANB: 30 Male Non Smoker

Age Up To: 65
eCI: 200k ~ 250k

Death/TPD amount not concerned about it.
Here the quote generated for you.
Profile : male anb 30 non smoker

Company T
250k death/tpd/eci - $1791/year
200k death/tpd/eci - $$1431.80/year

Company X
250k death/tpd/eci - $1103.16/year
200k death/tpd/eci - $882.52/year

Company A
250k death/tpd/eci - $2146.05/year
200k death/tpd/eci - $1716.85/year

Last edited by boredboiboi; 01-08-2020 at 05:37 PM..
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Old 01-08-2020, 05:39 PM   #5132
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One more quote, thanks everyone.

ANB: 30 Male Non Smoker

Age Up To: 65
eCI: 100k
CI: 300~400k
Death/TPD amount not concerned about it.
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Old 01-08-2020, 05:45 PM   #5133
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One more quote, thanks everyone.

ANB: 30 Male Non Smoker

Age Up To: 65
eCI: 100k
CI: 300~400k
Death/TPD amount not concerned about it.
Here the quote generated for you.
Profile : male anb 30 non smoker

Company T
400k death/tpd, 300k ci, 100k eci - $1455.80/year
500k death/tpd, 400k ci, 100k eci - $1583.50/year

Company X
400k death/tpd, 300k ci, 100k eci - $1355.85/year
500k death/tpd, 400k ci, 100k eci - $1508.40/year

Company A
400k death/tpd, 300k ci, 100k eci - $1692.95/year
500k death/tpd, 400k ci, 100k eci - $1810.25/year

Last edited by boredboiboi; 01-08-2020 at 05:57 PM..
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Old 01-08-2020, 09:39 PM   #5134
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hihi not asking for quote yet.

1. instead of buying whole life, if I were to invest + buy term plan, how much gain I need for investment in order to breakeven with whole life?

2. I'm anb 33 F, no insurance, no dependent. what plans are recommended, and how much?

3. I have a property and getting bank loan. can I buy term insurance instead of mortgage insurance.
hps vs mortgage insurance which is more worth it?

thanks!
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Old 01-08-2020, 09:53 PM   #5135
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1. instead of buying whole life, if I were to invest + buy term plan, how much gain I need for investment in order to breakeven with whole life?
The basic answer is "Not much."

But that's not the only factor to consider. With whole life insurance your protection is bundled with your "investment." The premium is higher than protection alone. This'll mean you have less liquid wealth outside the policy. This'll also mean you cannot skip a payment, because if you do you're losing your insurance protection.

I don't think you should skip your regular savings flow and long-term investments either. But with term insurance you can if you must, and you still retain your protection. You have more liquid wealth, and you're thus better defended against whatever curve balls are thrown your way. All you have to do is save diligently and invest prudently. Some people need a premium bill to force them to do that -- that the loss of protection is a big threat, and it's the only way they will save, even if it's inefficient and costly. Others don't need the big hammer of a premium bill to do the right thing and save diligently (and continue to spend carefully).
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Old 01-08-2020, 09:56 PM   #5136
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hihi not asking for quote yet.

1. instead of buying whole life, if I were to invest + buy term plan, how much gain I need for investment in order to breakeven with whole life?

2. I'm anb 33 F, no insurance, no dependent. what plans are recommended, and how much?

3. I have a property and getting bank loan. can I buy term insurance instead of mortgage insurance.
hps vs mortgage insurance which is more worth it?

thanks!
Bbc has answer 1.

I will answer 3, yes u can get term insurance instead if mortgage and actually most of my client a normal term and not mortgage term(reducing term). Because premium is not much different but u have the same coverage throughout instead of reducing to match the outstanding loan.

For 2 you can consider disability income insurance. To cover you monthly in the event u do not have the ability to work.
Follow by critical illness.
Term insurance is to cover for your property.

Last edited by boredboiboi; 01-08-2020 at 10:05 PM..
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Old 01-08-2020, 10:10 PM   #5137
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The basic answer is "Not much."

But that's not the only factor to consider. With whole life insurance your protection is bundled with your "investment." The premium is higher than protection alone. This'll mean you have less liquid wealth outside the policy. This'll also mean you cannot skip a payment, because if you do you're losing your insurance protection.

I don't think you should skip your regular savings flow and long-term investments either. But with term insurance you can if you must, and you still retain your protection. You have more liquid wealth, and you're thus better defended against whatever curve balls are thrown your way. All you have to do is save diligently and invest prudently. Some people need a premium bill to force them to do that -- that the loss of protection is a big threat, and it's the only way they will save, even if it's inefficient and costly. Others don't need the big hammer of a premium bill to do the right thing and save diligently (and continue to spend carefully).
thanks for it! how about ILP plans?
is it same that a premium is also being charged just like whole life plans? I heard for ILP, cannot hold until old cuz the premium charge for protection will get higher and higher until not worth it.
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Old 01-08-2020, 10:13 PM   #5138
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Bbc has answer 1.

I will answer 3, yes u can get term insurance instead if mortgage and actually most of my client a normal term and not mortgage term(reducing term). Because premium is not much different but u have the same coverage throughout instead of reducing to match the outstanding loan.

For 2 you can consider disability income insurance. To cover you monthly in the event u do not have the ability to work.
Follow by critical illness.
Term insurance is to cover for your property.
can get quote for term insurance? Life TPD, 1mil( or amount as long as hits large sum assured discount) cheapest one
33F non smoker
35M non smoker

is CI standalone better or as rider better?
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Old 01-08-2020, 10:19 PM   #5139
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can get quote for term insurance? Life TPD, 1mil( or amount as long as hits large sum assured discount) cheapest one
33F non smoker
35M non smoker

is CI standalone better or as rider better?
Yes i can. 1 million each till what age is the coverage you want? As a rider will be cheaper. Standalone ci plan now that is of the better ones are multipay ci and is not cheap.

33 is next or last birthday for female?
35 is next or last birthday for male?

Last edited by boredboiboi; 01-08-2020 at 10:22 PM..
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Old 01-08-2020, 10:21 PM   #5140
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thanks for it! how about ILP plans?
is it same that a premium is also being charged just like whole life plans? I heard for ILP, cannot hold until old cuz the premium charge for protection will get higher and higher until not worth it.
ILP can work too if put into the correct fund and yes charges will get higher per $1000 coverage. But if you fund grow, your coverage difference between the 1 million will get closer and charges will go down too. So it depends on how the market do to close up the differences.
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Old 01-08-2020, 10:28 PM   #5141
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can get quote for term insurance? Life TPD, 1mil( or amount as long as hits large sum assured discount) cheapest one
33F non smoker
35M non smoker

is CI standalone better or as rider better?
There is perpetual discount on 1 mil coverage!
so lemme know until what age you prefer your coverage till and i can generate quotations for you

as for if it is better standalone or not, if you are getting a term already, a rider would be cheaper as compared to standalone!

Only downside is the rider expires the same time as the term so perhaps if you have different timelines, you can consider splitting
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Old 01-08-2020, 10:32 PM   #5142
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thanks for it! how about ILP plans?
is it same that a premium is also being charged just like whole life plans? I heard for ILP, cannot hold until old cuz the premium charge for protection will get higher and higher until not worth it.
I think if you are not considering involving investment into your protection plan, dont look at ilp. There are alot of different charges and you may read up on the pros and cons if ILP from here!

Go with the philosophy of buy term invest rest or if you are looking for cash value, whole life might be alright as well!
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Old 01-08-2020, 10:37 PM   #5143
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can get quote for term insurance? Life TPD, 1mil( or amount as long as hits large sum assured discount) cheapest one
33F non smoker
35M non smoker

is CI standalone better or as rider better?
Rider is usually better and cheaper overall. Depending if you want coverage for ECI &/or CI, and till what age (usually 65/70), premium will differ.

Let us know and we will quote according!
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Old 01-08-2020, 10:48 PM   #5144
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thanks for the strong response 💪
answer is I dunno how to answer most of them LOL

1. the age mentioned is ANB
2. I dunno what I want but I can give a picture for profiling. not intending to have any children, so its me and my spouse. hoping that the money we earn from work(employee) is enough to last us and having good retirement . so I guess we have to hedge against inflation and rising cost of livint/healthcare. the money gain from investment is solely for me/spouse.
3. in terms of policy term, best to be cheap, yet be long enough to match average dying age of a person.
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Old 01-08-2020, 10:52 PM   #5145
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thanks for the strong response 💪
answer is I dunno how to answer most of them LOL

1. the age mentioned is ANB
2. I dunno what I want but I can give a picture for profiling. not intending to have any children, so its me and my spouse. hoping that the money we earn from work(employee) is enough to last us and having good retirement . so I guess we have to hedge against inflation and rising cost of livint/healthcare. the money gain from investment is solely for me/spouse.
3. in terms of policy term, best to be cheap, yet be long enough to match average dying age of a person.
3. The years of term is determine by you. Cheap is the shortest the coverage term the cheapest. Average living of a person is about 85. So you want coverage till age 85?
Or coverage till your loan ends?
All the info you need to provide so we can quote. U can see all the past example. Without info, we cant be quoting randomly.

2. If you really dont know then maybe just focus on death/tpd coverage. But u need to let us know till what age you want your coverage to covers.

Last edited by boredboiboi; 01-08-2020 at 11:16 PM..
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