Getting started with insurance

[BBCWatcher]

If I'm looking at aia solitaire personal accident
which category does that falls under?

“Named risks” (a.k.a. “named perils”).

cos the online brochure doesn't state all the things it covers...

It never does. The policy letter (a.k.a contract) does.

or must i approach them to get a list of the coverage

Unless they post a sample policy letter on their Web site, yes, if you want a Personal Accident policy and want to understand what it covers. (Why do you want PA insurance?)

I bought a whole life policy in Malaysia 10 years back, and am thinking of surrendering it as i do not really have a need for it anymore.

Sum assured - RM 100K , coverage ends 2073
Annual premium - RM 2820 annually for 10 years. I have paid 9 instalments and will be paying my final premium in Dec 2020.
Current surrender value - RM 23652
Cash bonus balance - RM 1911.12

Would it be better to pay off the final premium before surrendering, or should i surrender immediately?

What’s the surrender value after the final premium payment?

 

[orangbulu]

What’s the surrender value after the final premium payment?

How do I get this info. Should I contact the CS/ My agent?

 

[BBCWatcher]

How do I get this info. Should I contact the CS/ My agent?

Yes, or if you have online access you should be able to get a policy statement. This information may also be in the policy documents you received when you took out the policy, at least in terms of the guaranteed minimum surrender value at each stage.

 

[smile_daphne]

Hi guyz. Need help figuring out what's the best for me.

I understand that DII seems like the most recommended insurance amongst all the others but how about CI?

Considering:
29 year old female,
non smoker,
Planning to get married and have kids in the next 2 years,
currently working with 3.3k salary.

Policies on hand:
1. Ntuc vivocare (bought when I was 21 when I was fresh into this whole insurance thing)
2. NTUC private hospitalisation insurance

So now I'm relooking them and thought the aviva multipay was a good idea to supplement the CI portion considering how prevalent all the women problems are these days but I see that DII is highly recommended first.

Should I go ahead with the CI first and then get the DII in the next few years after the salary has hit the 4-5k mark? Now seems abit too low to get the DII.

Any suggestions?

 

[xtwis7]

It is never too little to get started with DII. The purpose is to protect you should something happen tomorrow.

You rather have some DII than none because you’re risking your privilege to apply now when you’re still healthy.

 

[boredboiboi]

Hi guyz. Need help figuring out what's the best for me.

I understand that DII seems like the most recommended insurance amongst all the others but how about CI?

Considering:
29 year old female,
non smoker,
Planning to get married and have kids in the next 2 years,
currently working with 3.3k salary.

Policies on hand:
1. Ntuc vivocare (bought when I was 21 when I was fresh into this whole insurance thing)
2. NTUC private hospitalisation insurance

So now I'm relooking them and thought the aviva multipay was a good idea to supplement the CI portion considering how prevalent all the women problems are these days but I see that DII is highly recommended first.

Should I go ahead with the CI first and then get the DII in the next few years after the salary has hit the 4-5k mark? Now seems abit too low to get the DII.

Any suggestions?

Work around your budget. U dont need to really get 3.3k/month DII. You can also can 2k DII. If is budget constraint, you might want to look into term + eci/ci than multipay. Multipay i would say the last to consider.

 

[winthony]

Hi guyz. Need help figuring out what's the best for me.

I understand that DII seems like the most recommended insurance amongst all the others but how about CI?

Considering:
29 year old female,
non smoker,
Planning to get married and have kids in the next 2 years,
currently working with 3.3k salary.

Policies on hand:
1. Ntuc vivocare (bought when I was 21 when I was fresh into this whole insurance thing)
2. NTUC private hospitalisation insurance

So now I'm relooking them and thought the aviva multipay was a good idea to supplement the CI portion considering how prevalent all the women problems are these days but I see that DII is highly recommended first.

Should I go ahead with the CI first and then get the DII in the next few years after the salary has hit the 4-5k mark? Now seems abit too low to get the DII.

Any suggestions?

Consider your budget. How much are you forking out for your existing 2 policies?

Multipay is pretty pricey but it provides you with continue coverage if you ever claim once.

Never too late to get DII but revisit your portfolio to do a calculation if the coverage is sufficient for you in terms of CI. If not, consider getting yourself a term CI/ECI. if budget permits, get your DII + Multipay if you wish

 

[Mr. Wood]

anyone know if dii iszit same as care shield? or dii is supplement to careshield?
so long alrdy dunno why still haven announce careshield details.

gamen busy fighting 38OR still?

 

[BBCWatcher]

anyone know if dii iszit same as care shield? or dii is supplement to careshield?

Neither. This article explains Disability Income Insurance rather well, I think.

so long alrdy dunno why still haven announce careshield details.

There are quite a few CareShield Life details posted here.

 

[moejoseph]

Hi guyz. Need help figuring out what's the best for me.

I understand that DII seems like the most recommended insurance amongst all the others but how about CI?

Considering:
29 year old female,
non smoker,
Planning to get married and have kids in the next 2 years,
currently working with 3.3k salary.

Policies on hand:
1. Ntuc vivocare (bought when I was 21 when I was fresh into this whole insurance thing)
2. NTUC private hospitalisation insurance

So now I'm relooking them and thought the aviva multipay was a good idea to supplement the CI portion considering how prevalent all the women problems are these days but I see that DII is highly recommended first.

Should I go ahead with the CI first and then get the DII in the next few years after the salary has hit the 4-5k mark? Now seems abit too low to get the DII.

Any suggestions?

If ur budget allows, u may want to consider adding-on DI as a rider as well, to a term plan with ECI or CI rider. It will be much cheaper than if u are to get them separately. Consider adding another premium waiver rider as well, in case anything is to happen, you won't need to fret about future premium anymore.

There are other insurers offering multipay as well, but it is generally gonna be expensive.

Will say to focus on what you really prioritize and need first, especially when u are planning to get married and have kids in the next 2 years (expenses gonna be high)

 

[buttercream]

May I know which Disability Income insurance is the most recommended? Would Mindef aviva one be sufficient or anything better in the market? Thanks!

 

[xtwis7]

Careshield is way different from Disability Income Insurance. The definitions of ADLs are much stricter than any disability or illness.

anyone know if dii iszit same as care shield? or dii is supplement to careshield?
so long alrdy dunno why still haven announce careshield details.

gamen busy fighting 38OR still?

 

[xtwis7]

I do believe while pricing is important, it shouldn’t be the most important factor.

Just look at our Integrated Shield plans’ premiums as to what some companies have done when they first introduced cut throat pricing.

Mindef’s group policy would always work quite differently compared to a private insurer structure and I believe Mindef’s cap is actually up to 50% of your income.

May I know which Disability Income insurance is the most recommended? Would Mindef aviva one be sufficient or anything better in the market? Thanks!

 

[GloryKnight]

Hi guys, which insurance would you recommend for a term insurance with CI and/or early CI coverage with death and tpd?

Any quotes here for GE? Or recommended to get from aviva?

 

[moejoseph]

Hi guys, which insurance would you recommend for a term insurance with CI and/or early CI coverage with death and tpd?

Any quotes here for GE? Or recommended to get from aviva?

If u are looking solely at pricing,AXA is the lowest for most combinations at the moment

 

[GloryKnight]

If u are looking solely at pricing,AXA is the lowest for most combinations at the moment

What other factors should i look at besides pricing? Are all the other insurance players not competitive with AXA?

 

[moejoseph]

What other factors should i look at besides pricing? Are all the other insurance players not competitive with AXA?

For term plan, it is pretty much the same across all insurers. If u are looking at smaller amount of coverage, u can look to buy direct. But there won't be any advisor to assist if say u have a need.

Pricing wise one or two other insurers are quite competitive as well, so u will need to really get a quote to find out

 

[boredboiboi]

What other factors should i look at besides pricing? Are all the other insurance players not competitive with AXA?

Moejoseph is correct. You only when u share what the coverage u r looking for, then we help you to quote and you can decide from there.

 

[GloryKnight]

If i only have 2500 to spare for insurance per year. Should i get term or life with that amount of money?

If its life, should i get multipay with eci kind of plan?
My term; covers till 70. With eci/ci.

What is best coverage i can get?

 

[boredboiboi]

If i only have 2500 to spare for insurance per year. Should i get term or life with that amount of money?

If its life, should i get multipay with eci kind of plan?
My term; covers till 70. With eci/ci.

What is best coverage i can get?

What ur age? Gender? Smoker/non smoker?
Depends on the eci coverage u r looking at. If you are younger than 30, wholelife plan base on what i always compare make better sense.