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Things you should read before buying an endowment plan

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Old 12-07-2016, 06:45 PM   #736
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Wow, the article posted by pew really opened my eyes. First year comm for the agent for term policy is close to 50%? Why do we need to pay so much when a term policy does not even require servicing... Just buy and only claim payout if suay suay hit by any misfortune, but if not, the policy is just left in the drawer there's no need to look again. I tried to look at buying term direct from the insurer but it seems they only have coverage up to 200k? I'm looking for 500k coverage, if anyone knows how I can buy it direct please advise. Thanks so much.
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Old 12-07-2016, 07:29 PM   #737
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Wow, the article posted by pew really opened my eyes. First year comm for the agent for term policy is close to 50%? Why do we need to pay so much when a term policy does not even require servicing... Just buy and only claim payout if suay suay hit by any misfortune, but if not, the policy is just left in the drawer there's no need to look again. I tried to look at buying term direct from the insurer but it seems they only have coverage up to 200k? I'm looking for 500k coverage, if anyone knows how I can buy it direct please advise. Thanks so much.
For direct max u can buy is up to 400K per insurer. If u want 500K, u can try to buy from different insurer to make it 500K.

U may ask agents to give u quotation then compare the premium or get Aviva MINDEF/MHA which is the cheapest in the market.
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Old 12-07-2016, 08:05 PM   #738
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For direct max u can buy is up to 400K per insurer. If u want 500K, u can try to buy from different insurer to make it 500K.

U may ask agents to give u quotation then compare the premium or get Aviva MINDEF/MHA which is the cheapest in the market.

Thank you. I did a comparison between GE DPI and GE term from an agent, in DPI, it seems that the critical illness coverage is only for 30 illnesses + terminal illness = 31, compared to the policy sold by the agent, it's covering 37 illness (Terminal illness included) as defined by ILA.

DPI section 6 shows the 30 illnesses covered:
https://www.greateasternlife.com/sg/...questions.html

Compared with the term policy from the agent, 6 illnesses, namely:
Apallic Syndrome
Loss of Independent Existence
Other Serious Coronary Artery Disease
Poliomyelitis
Progressive Scleroderma
Systemic Lupus Erythematosus with Lupus Nephritis

are not covered in DPI. I'm not sure how many % of the population strikes the 6 illnesses, but should this be something to be concern about when buying the CI rider from DPI?
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Old 12-07-2016, 08:18 PM   #739
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Polio is eradicated in SG I believe

Based on this article, there seems to be an increase in scleroderma

https://www.nuh.com.sg/wbn/slot/u300...a_25Aug_ok.pdf
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Old 12-07-2016, 08:42 PM   #740
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Polio is eradicated in SG I believe

Based on this article, there seems to be an increase in scleroderma

https://www.nuh.com.sg/wbn/slot/u300...a_25Aug_ok.pdf
So it seems that we can only buy from agent if we want coverage for all 37 illnesses as defined by LIA...
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Old 12-07-2016, 09:18 PM   #741
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So it seems that we can only buy from agent if we want coverage for all 37 illnesses as defined by LIA...
you can also buy term from agent for 500k coverage and 37 illnesses for ci
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Old 12-07-2016, 09:23 PM   #742
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there are policies in the market covering 43 critical illness.
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Old 14-07-2016, 07:47 PM   #743
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http://www.diyinsurance.com.sg/porta...er+1&art_id=37

the kor kor from providend supports term
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Old 23-07-2016, 09:57 AM   #744
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http://www.dollarsandsense.sg/lifest...urance-policy/
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Old 23-07-2016, 11:40 AM   #745
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Yeah someone posted this awhile back. Nothing new leh.
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Old 23-07-2016, 02:41 PM   #746
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There's always segments of gullible people in every community which needs protection. Just like we need protection by police from criminals (because we're weak and can't defend ourselves from those monsters with weapons), these gullible people are also weak and needs protection from the insurance monsters. I'd say it's high time the government steps on on new laws to punish and jail these monsters
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Old 23-07-2016, 02:43 PM   #747
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Yeah someone posted this awhile back. Nothing new leh.
Paiseh...Let me see got any new articles...
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Old 23-07-2016, 03:07 PM   #748
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There's always segments of gullible people in every community which needs protection. Just like we need protection by police from criminals (because we're weak and can't defend ourselves from those monsters with weapons), these gullible people are also weak and needs protection from the insurance monsters. I'd say it's high time the government steps on on new laws to punish and jail these monsters
I'm sure they are working on it. But they have to the change the mindset of people that were deceived by decades of lies and freeloading agents.
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Old 23-07-2016, 04:55 PM   #749
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Insurance Myth 1: Insurance should also be an investment

http://blog.moneysmart.sg/insurance/...out-insurance/
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Old 23-07-2016, 05:14 PM   #750
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Insurance Myth 1: Insurance should also be an investment

http://blog.moneysmart.sg/insurance/...out-insurance/
Should not mix insurance with investments, savings
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