[Advice] Insurance, Saving Plan.

[sjx_samuel]

Hello,

I am currently in my 20's still serving NS. I would grab this opportunities to use ard 30-50 percent of my pay doing something more meaningful.

Example: Investing 30-50% of my pay to get higher return than the bank. As I am aware that saving account usually doesn't have high interest. Therefore, I would like to heed advice from you guys on which direction should I be heading to put my 50-30 percent of my saving for a higher return. Like buying term insurance etc...

 

[Darkzi0n]

SAF term insurance + optional riders is a good term insurance.

other than that, u might wan to get a hospitalization and surgical insurance + rider for the deductibles and co-insurance.

investment wise, if u wan to invest monthly, u can consider the various alternatives offered by banks such as POSB interest saver or OCBC's blue chips investment plan which allows u to invest a small sum each month.

but before u start investing, read up and learn about investment first.

also, try to avoid unit trust or ILP.

 

[WuMing1234]

hi

saf term plan ftw

 

[sjx_samuel]

SAF term insurance + optional riders is a good term insurance.

other than that, u might wan to get a hospitalization and surgical insurance + rider for the deductibles and co-insurance.

investment wise, if u wan to invest monthly, u can consider the various alternatives offered by banks such as POSB interest saver or OCBC's blue chips investment plan which allows u to invest a small sum each month.

but before u start investing, read up and learn about investment first.

also, try to avoid unit trust or ILP.

Thanks for the advice, I have bought the SAF term insurance when I first enter army. For optional rider, I will re look into it. Noted with thanks.

 

[wooty100]

U nsf or regular ?

If you wanna look into plans , consider your risk allowance and time frame you looking at, then you probably can shortlist afew options.

Next match up your personal goals and needs in the future. Factor short and med term goals as well.

You can start by getting some term insurances (saf and maybe you can top up others) and can consider life insurance products which consist of wholelifes, endowments and ilps.

 

[VertigoIV]

better read up before investing in anything