Getting started with insurance

[GloryKnight]

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.

Male, 30, Non-smoker

 

[boredboiboi]

Male, 30, Non-smoker

And what the coverage you are looking at? Then i can generate for you both term and wholelife for reference?
Wholelife can pay 10/15/20/25 years while term is pay till age 70

 

[GloryKnight]

And what the coverage you are looking at? Then i can generate for you both term and wholelife for reference?
Wholelife can pay 10/15/20/25 years while term is pay till age 70

Death/TPD: 300k? Or lower?
ECI/CI: 200k

Actually im unsure on how much coverage is needed but i am pretty sure i dont need to leave alot for my kids in the future with my "death" price.

Like i mentioned, if i only have about~2500 per year for term or whole. Whats the best value i can attain?

Thanks!

 

[boredboiboi]

Death/TPD: 300k? Or lower?
ECI/CI: 200k

Actually im unsure on how much coverage is needed but i am pretty sure i dont need to leave alot for my kids in the future with my "death" price.

Like i mentioned, if i only have about~2500 per year for term or whole. Whats the best value i can attain?

Thanks!

Base on age next birthday 30 male none smoker.

Example

Wholelife plan with 5x multiplier with base 50k till age 70. Which your coverage becomes 250k death/tpd/eci (eci covers all stages of ci) - $2,254.84/year , pay 25 years. Coverage continue after age 70 become 50k till age 99.

Term plan 250k death/tpd/eci - $1270.80/year, pay till age 70.

 

[moejoseph]

Death/TPD: 300k? Or lower?
ECI/CI: 200k

Actually im unsure on how much coverage is needed but i am pretty sure i dont need to leave alot for my kids in the future with my "death" price.

Like i mentioned, if i only have about~2500 per year for term or whole. Whats the best value i can attain?

Thanks!

If coverage is not that important, and you don't need to leave a lot for your child, will recommend to go for a whole life plan.

Usually pay 25 years for coverage till 99 (reduced coverage frm 70 onwards). If at that point in life, u feel that you totally no need to leave anything for your child, then u can choose to surrender for a sum of money as well.

For term, is usually for ppl who are looking to get a higher coverage, and don't mind paying till age

 

[winthony]

Death/TPD: 300k? Or lower?
ECI/CI: 200k

Actually im unsure on how much coverage is needed but i am pretty sure i dont need to leave alot for my kids in the future with my "death" price.

Like i mentioned, if i only have about~2500 per year for term or whole. Whats the best value i can attain?

Thanks!

If leaving something behind for your loved ones after death is not prioritize, perhaps you can focus more on ECI/CI since it would probably incur alot in terms of finances

 

[xtwis7]

GE has a very comprehensive term insurance with CI.

At the moment, the early CI term for other companies is much more competitive.

If you would like some quotes for death and CI, more than Glad to provide you with some. More importantly is going through with you to assess how much do you need exactly since you’re unsure of that to begin with.

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?

 

[tangent314]

Where can i get all the price product comparison from all insurance?

You can ask IFAs to quote for you from a few places.
Or go to http://comparefirst.sg to get quotes that can be compared. Nice thing about comparefirst is you can get quotes for Direct Purchase Insurance products that agents and FAs cannot recommend or sell to you, but are cheaper than the standard products.

 

[Aresden]

You can ask IFAs to quote for you from a few places.
Or go to http://comparefirst.sg to get quotes that can be compared. Nice thing about comparefirst is you can get quotes for Direct Purchase Insurance products that agents and FAs cannot recommend or sell to you, but are cheaper than the standard products.

I think that link no longer works

 

[tangent314]

It's still working for me

 

[boredboiboi]

I think that link no longer works

https://www.comparefirst.sg/wap/homeEvent.action

 

[DaniaoXZ]

Does insurance premium increase overtime when bought at young age?

i.e. bought 100/mth at age 25
age 35 will increase premium to 150
assuming no claim made by individual till age 35.

 

[boredboiboi]

Does insurance premium increase overtime when bought at young age?

i.e. bought 100/mth at age 25
age 35 will increase premium to 150
assuming no claim made by individual till age 35.

Term and wholelife usually dont.
Only hospital plan will

 

[BBCWatcher]

Does insurance premium increase overtime when bought at young age?

Term and wholelife usually dont.
Only hospital plan will

Look for the term "guaranteed level premiums" (or very similar) in the policy you're considering.

You may also see the term "perpetual discount of XX%." That term alone doesn't mean the premium is guaranteed level, but it does mean that, whatever the premium is, a percentage discount will be applied to the premium.

 

[moejoseph]

Does insurance premium increase overtime when bought at young age?

i.e. bought 100/mth at age 25
age 35 will increase premium to 150
assuming no claim made by individual till age 35.

Usually premium will be guaranteed and level for Death & TPD

For CI coverage, insurers usually will include a clause to say that it is NOT guaranteed, as there may be changes to definitions as time passes to include more illnessed, or any other unforseen reasons.

 

[DaniaoXZ]

Term and wholelife usually dont.
Only hospital plan will

Look for the term "guaranteed level premiums" (or very similar) in the policy you're considering.

You may also see the term "perpetual discount of XX%." That term alone doesn't mean the premium is guaranteed level, but it does mean that, whatever the premium is, a percentage discount will be applied to the premium.

Usually premium will be guaranteed and level for Death & TPD

For CI coverage, insurers usually will include a clause to say that it is NOT guaranteed, as there may be changes to definitions as time passes to include more illnessed, or any other unforseen reasons.

Thanks for the reply

 

[halfnode]

anyone have a reputable company to sell existing paid-up life insurance policy from NTUC? It's vivolife.

Reason for thinking about selling is because switching to another insurance so going to surrender vivolife anyway.

 

[HWZ1973]

Where’s appleyum prudential thread??

 

[moejoseph]

anyone have a reputable company to sell existing paid-up life insurance policy from NTUC? It's vivolife.

Reason for thinking about selling is because switching to another insurance so going to surrender vivolife anyway.

Do u have the BI?

 

[xtwis7]

Why are you surrendering one life policy to buy another life policy?

anyone have a reputable company to sell existing paid-up life insurance policy from NTUC? It's vivolife.

Reason for thinking about selling is because switching to another insurance so going to surrender vivolife anyway.