HWZ Forums

Login Register FAQ Mark Forums Read

What insurance to buy for a single person?

Like Tree1Likes
  • 1 Post By BBCWatcher
Reply
 
LinkBack Thread Tools
Old 07-11-2019, 07:27 PM   #1
Member
 
livingcharsiew's Avatar
 
Join Date: Oct 2019
Posts: 357
What insurance to buy for a single person?

I only have SAF AVIVA group term life and personal accident rider
100k term life, 100k personal accident $5.17 a month

What is the best hospitalization plan and critical illness plan to get?
I am single for the foreseeable future, no children or dependents.
No house or debt because I will BTO and empty out my CPF to pay for it.

I only $400 a month or less so I don't believe in disability insurance and if I get permanent disability I rather be dead.
livingcharsiew is offline   Reply With Quote
Old 07-11-2019, 08:06 PM   #2
Supremacy Member
 
Join Date: Jun 2010
Posts: 9,569
I only have SAF AVIVA group term life and personal accident rider
100k term life, 100k personal accident $5.17 a month
Well, at least that's not a whole lot of money.

But you're a single person with no dependents. So since you have no dependents, would you mind naming me as your life insurance beneficiary? In other words, you don't need any life insurance, and you're paying for something you don't need.

....OK, would you please flip through Aviva's SAF/MINDEF group insurance brochure to the page labeled "Disability Income." That's the single most important product they have in their brochure. Study up on it, please.

What is the best hospitalization plan and critical illness plan to get?
I'll ignore the second part of the question. As to the first part, here are my current nominees:

* All private hospital (in Singapore) Integrated Shield plan: no recommendation. (It's overkill.)

* Limited network private hospital Integrated Shield plan: Raffles Shield A with the Raffles Hospital Option.

* Public hospital A ward Integrated Shield plan: Great Eastern, Prudential, and Raffles Shield are all quite good.

* Public hospital B1 ward Integrated Shield plan: Great Eastern for citizens, Aviva or NTUC for PRs.

I only $400 a month or less so I don't believe in disability insurance and if I get permanent disability I rather be dead.
Lovely. So if you're disabled, who's going to carry out that wish? (Or is that what the life insurance payout is for?)

....I suggest rethinking your "plan."
livingcharsiew likes this.
BBCWatcher is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On