Getting started with insurance

[halfnode]

yes i do have the BI(benefit illustration?),

im changing as i wanted more CI and ntuc basically told me that i have to get a new policy so end up i shopped around and got another policy so using this paidup policy to pay for the new policy premiums

 

[Value.Matrix]

why not consider top up and keeping the whole life? But ok, do a opportunity cost check then if you wish to change.

Honestly, not right to give up the whole life unless really budget issue / cashflow and some other matrix not known.

 

[halfnode]

why not consider top up and keeping the whole life? But ok, do a opportunity cost check then if you wish to change.

Honestly, not right to give up the whole life unless really budget issue / cashflow and some other matrix not known.

Yar it doesn't make sense and i did want to go for top up, but to quote ntuc, "my plan is too old to top up (bought 9 years ago) as it was the first version of vivolife and if i die die want more coverage have to buy a new policy"

wtf really, so that's why end up in this step.

 

[boredboiboi]

Yar it doesn't make sense and i did want to go for top up, but to quote ntuc, "my plan is too old to top up (bought 9 years ago) as it was the first version of vivolife and if i die die want more coverage have to buy a new policy"

wtf really, so that's why end up in this step.

Seem like you wanted ci/eci.
Buy a term with eci/ci rider might be better for you. Cancel a wholelife for anothet might not really be effective unless new plan really can justify.

 

[winthony]

Any insurance experts here know if Aviva's MyHealthPlus(Plan 2) covers sebaceous cyst removal at a government hospital?

Thanks in advance!

If it is considered a minor surgical procedure, then it would not be covered IIRC.

 

[BBCWatcher]

Any insurance experts here know if Aviva's MyHealthPlus(Plan 2) covers sebaceous cyst removal at a government hospital?

If it is considered a minor surgical procedure, then it would not be covered IIRC.

That’s not the problem. Day surgeries are covered.

The possible problem is that “elective cosmetic treatments” are not covered, so it depends on the situation with this cyst.

 

[winthony]

That’s not the problem. Day surgeries are covered.

The possible problem is that “elective cosmetic treatments” are not covered, so it depends on the situation with this cyst.

what i mean is with reference to MOH table of surgical procedure, anything that is considered under that category will not be covered.

Have to get the actual prognosis and the procedure to know if it is claimable

 

[winthony]

The surgical procedure is "SA800S/1A" due in June, basically a sway sway tio a cyst on my head loh.. no reason type de, just heng sway lol, won't go away by it's own so need to cut it out

Can claim my Dad's medisave ah but if insurance can cover why not

So how do I go about checking/doing this ah.. call up the insurance agent that I'm under now?

https://www.moh.gov.sg/docs/librariesprovider5/medisave/table-of-surgical-procedures.pdf

It is listed inside. I think it should be covered.

 

[happybirdy]

Anyone can quote me please?

Hi,

Not enough posts to PM. Any agent can quote me on the below?

42 male, non-smoker, looking for the below till age 65/70.

$100k/$200k/$300k
Single Pay ECI

Is it better to go for ECI or just purely cancer protection?

 

[boredboiboi]

Hi,

Not enough posts to PM. Any agent can quote me on the below?

42 male, non-smoker, looking for the below till age 65/70.

$100k/$200k/$300k
Single Pay ECI

Is it better to go for ECI or just purely cancer protection?

To be honest, if you are looking for eci. Add it as a rider to a term plan will be a better option. Most Standalone eci in the market is really not up to date, but company M multipay ci plan have the option become only single pay ci plan and is only slightly cheaper.

 

[Mr. Wood]

Hi,

Not enough posts to PM. Any agent can quote me on the below?

42 male, non-smoker, looking for the below till age 65/70.

$100k/$200k/$300k
Single Pay ECI

Is it better to go for ECI or just purely cancer protection?

I understand dat u want single payout, term plan for critical illness.
Not an agent, but recently helped someone looked at a plan. similar profile and age.
Company "A" ECI plan covers early, intermediate and severe CI.
20yrs premium term, 20yrs term plan. plan terminates on 20yrs or on first payout.
$100k coverage, monthly premium shud be $100 thereabouts.

if this looks good, contact company "A" directly say u want to speak only to the direct staff, not their agency or distributors.
u will highly likely get better service. becoz, 1) agents will want to sell u expensive stuff to get more commissions. 2)direct staff are paid a fixed salary. any walk in customers are extra commission to them, so direct staff will be more than happy to close even a $20 commission deal.

 

[winthony]

Hi,

Not enough posts to PM. Any agent can quote me on the below?

42 male, non-smoker, looking for the below till age 65/70.

$100k/$200k/$300k
Single Pay ECI

Is it better to go for ECI or just purely cancer protection?

My take on insurance is get what you need and try not to get products that are limited in terms of coverage. you don't want an instance where you are diagnosed with something out of the basket of illness covered by your policy

 

[BBCWatcher]

My take on insurance is get what you need and try not to get products that are limited in terms of coverage. you don't want an instance where you are diagnosed with something out of the basket of illness covered by your policy

I agree, but that’s true of all so-called “Critical Illness” policies. They don’t cover the income ending consequences of injuries sustained when you’re run over by a motorcycle driver.

What to do? There is a reasonable answer. Anyone want to take a guess?

 

[winthony]

I agree, but that’s true of all so-called “Critical Illness” policies. They don’t cover the income ending consequences of injuries sustained when you’re run over by a motorcycle driver.

What to do? There is a reasonable answer. Anyone want to take a guess?

DII i suppose

End of the day, consumers ought to gauge their needs on top of what is being proposed to them.The trend i notice is mostly those that are earning above average getting DII

 

[xtwis7]

Whether you’re earning above average or below average, truth is nobody can live without their income.

Of course those with higher earning power will be even more afraid of losing that.

DII i suppose

End of the day, consumers ought to gauge their needs on top of what is being proposed to them.The trend i notice is mostly those that are earning above average getting DII

 

[winthony]

Whether you’re earning above average or below average, truth is nobody can live without their income.

Of course those with higher earning power will be even more afraid of losing that.

That i would have to agree.

Im just stating the profile of those getting DII from my experience.

 

[BBCWatcher]

The trend i notice is mostly those that are earning above average getting DII

Whether you’re earning above average or below average, truth is nobody can live without their income.

That’s not quite true. There are some wealthy people who can self-insure. They work primarily because they enjoy it.

Of course those with higher earning power will be even more afraid of losing that.

That i would have to agree.
Im just stating the profile of those getting DII from my experience.

I think it’s mostly a simple lack of awareness, not helped by the fact AXA, Prudential, Tokio Marine, Manulife, NTUC Income, FWD, Etiqa, China Life, Singlife, etc., etc. don’t sell DII. So if you’re talking to one of their agents, or to most IFAs, they won’t tell you about DII.

I was talking with someone recently from Italy (before COVID-19 though) who explained that, yes, there’s life insurance available, but most people who genuinely need it don’t buy any. Why? Mostly lack of awareness. Each insurance market is peculiar in certain ways.

 

[boredboiboi]

That’s not quite true. There are some wealthy people who can self-insure. They work primarily because they enjoy it.




I think it’s mostly a simple lack of awareness, not helped by the fact AXA, Prudential, Tokio Marine, Manulife, NTUC Income, FWD, Etiqa, China Life, Singlife, etc., etc. don’t sell DII. So if you’re talking to one of their agents, or to most IFAs, they won’t tell you about DII.

I was talking with someone recently from Italy (before COVID-19 though) who explained that, yes, there’s life insurance available, but most people who genuinely need it don’t buy any. Why? Mostly lack of awareness. Each insurance market is peculiar in certain ways.

Tokio marine actually has it actually. But its a rider to a term plan

 

[Mr. Wood]

That’s not quite true. There are some wealthy people who can self-insure. They work primarily because they enjoy it.




I think it’s mostly a simple lack of awareness, not helped by the fact AXA, Prudential, Tokio Marine, Manulife, NTUC Income, FWD, Etiqa, China Life, Singlife, etc., etc. don’t sell DII. So if you’re talking to one of their agents, or to most IFAs, they won’t tell you about DII.

I was talking with someone recently from Italy (before COVID-19 though) who explained that, yes, there’s life insurance available, but most people who genuinely need it don’t buy any. Why? Mostly lack of awareness. Each insurance market is peculiar in certain ways.

dats a long list of who do not provide DII
so other have?

can I say dat DII covers day-to-day living expenses if **** happens. while CI covers the medical bills, after hospital care.

and if I read correctly DII like covers 5-10 years of income replacement. right?

 

[boredboiboi]

dats a long list of who do not provide DII
so other have?

can I say dat DII covers day-to-day living expenses if **** happens. while CI covers the medical bills, after hospital care.

and if I read correctly DII like covers 5-10 years of income replacement. right?

Covera till the age u get. Usually until 65. CI is not covers medical bill, is hospital plans covers, ci coverage is more of income replacement.
DII is also income replacement if you are not able to work again in general.