Aviva SAF Term Life

[LesterQ]

Is it worth getting 350k insurance?

I just budget $50 a month and signed up when they came during bmt, now i abit regret..

 

[knightdreamer]

hi,

it is affordable for a 350K coverage

 

[laksa2003]

depend on which stage of life you are in

 

[SpinFire]

It depends on your financial situation now.
If you have dependents (wife, children, parents) and/or debts (student loans, housing loans), then you need sufficient coverage to pay off the loans or provide for your dependents should you pass away.

If you're a student, or just started working, I'd say $100k coverage is sufficient. It can sufficiently cover your student loans, and provide for your parents should you pass on.

 

[dork32]

It depends on your financial situation now.
If you have dependents (wife, children, parents) and/or debts (student loans, housing loans), then you need sufficient coverage to pay off the loans or provide for your dependents should you pass away.

If you're a student, or just started working, I'd say $100k coverage is sufficient. It can sufficiently cover your student loans, and provide for your parents should you pass on.

if it is saf insurance, then this guy is probably a ns guy or someone just signed on.

i prob get 100k as advised.

for ns guy, usually parents are self sufficient and dont have dependants. parents dont need extra money to survive. So if you die, they get some money so not so painful.

but if your family is waiting for you to bring the bread home, you should increase your insurance coverage. sway sway you die, the family still can survive on insurance payout. this scenario is less likely for a ns guy.

 

[tiny]

Option 1:
Wack at least $500 to $700k of coverage. Save you the trouble for health underwriting and declaration several years down the road.

Option 2:
Go for conservative $100k or $200k coverage and play dice pray u won't get exclusion for diabetes/high blood/etc in the future if u wish to upgrade coverage.

 

[Bababah]

When was in bmt i chose abit premium.. Recently just ord immediately downgrade to 100k package..

 

[civicguy]

Can I ask if I ROD (completely completed my NS including reservist), can I still now then sign up for SAF term ? Want to add to my existing insurance coverage at a low price

 

[Aerial86]

Can I ask if I ROD (completely completed my NS including reservist), can I still now then sign up for SAF term ? Want to add to my existing insurance coverage at a low price

Yes you can. Just download the application form from Aviva's website under SAF Group Term Life.

Note that it covers maximum till age 65. 65-70 is conditional but there is no writing in their web on what's the factors considered.

 

[LesterQ]

Sorry guys..

I onlyy just enlisted.. So i took went in having a $50 budget.
but thinking back my allowance of $480 and my expenditure
makes me want to rethink my budget.. therefore im asking if 300k is too much lol

but it's my life's worth so i think i'll just stick to it

 

[iCuteCube]

Nice, it's never "too much" for insurance.

Depends on one's needs. I don't think my life value so much now, therefore the sum assured is only 200k.

When I start to work, maybe I will just buy additional term to cover up the risk. Additional insurance like CI and other insurance will slowly kick in if i earn more.

 

[Shion]

This Aviva insurance, there is no returns. They provide you 100% full protection.
You continue to pay until you stopped your insurance or when you pass away.

Please correct me if wrong.