Getting started with insurance

[winthony]

Can someone give me quote for GE term insurance:
30yo female non smoker
1.1m total sum assured
30 years coverage
PayAssure rider for 9k per month until 65

Thanks

For 1.1m SA, actually Company A is running a 20% perpetual discount which could potentially be of a better value. The premium which works out to be $527.88.

Company A has DII as well

 

[MrPippen]

Hi. I am seeking a Prudential adviser to help me with my policy. It is just the hospital plan. Got some questions I wish to clarify with regards to the cash rider that I have been paying for. Feel free to drop me a PM and we can arrange a meet-up. Thank you.

 

[winthony]

Hi. I am seeking a Prudential adviser to help me with my policy. It is just the hospital plan. Got some questions I wish to clarify with regards to the cash rider that I have been paying for. Feel free to drop me a PM and we can arrange a meet-up. Thank you.

actually, what is the question you have? perhaps I can try to assist you

 

[MrPippen]

actually, what is the question you have? perhaps I can try to assist you

I bought it without knowing what it actually does.

Also, I want to change the credit card I am using to pay for.

Consider me old-fashioned, I prefer to have an agent to service me.

 

[winthony]

I bought it without knowing what it actually does.

Also, I want to change the credit card I am using to pay for.

Consider me old-fashioned, I prefer to have an agent to service me.

They have a couple of ISP rider so perhaps you can refer to this for some details

https://www.prudential.com.sg/-/med...465CD6E38AB9DE4A86D133A646CD02FCDB31D5DACE71C

For cc, https://www.prudential.com.sg/services/payments.

ahh understood! Unfortunately I cannot service you with regards to Pru products. Hopefully the resources above is helpful

 

[MrPippen]

They have a couple of ISP rider so perhaps you can refer to this for some details

https://www.prudential.com.sg/-/med...465CD6E38AB9DE4A86D133A646CD02FCDB31D5DACE71C

For cc, https://www.prudential.com.sg/services/payments.

ahh understood! Unfortunately I cannot service you with regards to Pru products. Hopefully the resources above is helpful

Thanks for the resources. I know I can settle these myself but I prefer to be in contact with an adviser so that in case next time really end up in hospital, I know who to find ma. Can't be I lie on hospital bed and still need DIY right?

 

[winthony]

Thanks for the resources. I know I can settle these myself but I prefer to be in contact with an adviser so that in case next time really end up in hospital, I know who to find ma. Can't be I lie on hospital bed and still need DIY right?

Make sense

Hopefully someone trustworthy approaches you!

 

[ArLumber]

For 1.1m SA, actually Company A is running a 20% perpetual discount which could potentially be of a better value. The premium which works out to be $527.88.

Company A has DII as well

What's the premium for the DII?

 

[MrPippen]

Make sense

Hopefully someone trustworthy approaches you!

Thank you. If you have any friends whom you can refer, I will be more than happy. Thank you.

 

[xtwis7]

Your scenario is not possible because the rider’s term is longer than the term so you will need to either increase the GREAT Term till 65 as well, or have PayAssure as a stand-alone.

You did not mention which occupation so I’ll just base it on a deskbound nature with both 90/180 days waiting period options.

Here’s the quotes for both the main plan and rider with another option till 65 for you:

Till 60
$2,078.70/yr ($1,952.70/yr for 180 days)

Till 65
$2,464.05/yr ($2,333.55/yr for 180 days)

If it’s done via 2 stand-alone policies, it’s $503.70/yr and $2,119.50/yr for the term life and payassure respectively but note that this PayAssure is for 35 years.

Can someone give me quote for GE term insurance:
30yo female non smoker
1.1m total sum assured
30 years coverage
PayAssure rider for 9k per month until 65

Thanks

 

[winthony]

What's the premium for the DII?

Depends on your deferred period as well as escalating benefit!

All before 35% discount


Deferred Period 3 months, 0% escalating : $3082.50
Deferred Period 6 months, 0% escalating : $2812.50
Deferred Period 3 months, 3% escalating : $3728.70
Deferred Period 6 months, 3% escalating : $3424.50

This is assuming your ANB is 30 and the monthly benefit of 9k is 75% of your current monthly pay



Normally for term, the sweet spot is 1m where it would be cheaper going by per 100k/premium

900k : $468.48 ($52.05/100k)
1m : $433.76 ($43.37/100k)
1.1m : $527.88 ($47.78/100k)

 

[Mr. Wood]

what is the meaning of deferred period?

 

[xtwis7]

It refers to the pre-benefit period or waiting period before the payout for DII is paid out.

what is the meaning of deferred period?

 

[ArLumber]

Your scenario is not possible because the rider’s term is longer than the term so you will need to either increase the GREAT Term till 65 as well, or have PayAssure as a stand-alone.

You did not mention which occupation so I’ll just base it on a deskbound nature with both 90/180 days waiting period options.

Here’s the quote:

Both $1.1m Death/TPD with $9k PayAssure rider till 60 years old - $2,078.70/yr ($1,952.70/yr if it’s 180 days waiting period)

If it’s done via 2 stand-alone policies, it’s $503.70/yr and $2,119.50/yr for the term life and payassure respectively but note that this PayAssure is for 35 years.

Sorry the occupation is class 2 (medical field)

I'll re-write the reqs.

term is 30 years (for rider as well)
1m total assured / and quote for 2m total
9k per month pay assure rider
Waiting period is 90 days.

 

[winthony]

Sorry the occupation is class 2 (medical field)

I'll re-write the reqs.

term is 30 years (for rider as well)
1m total assured / and quote for 2m total
9k per month pay assure rider
Waiting period is 90 days.

All after discount already (unfortunately both is separate as cannot add as rider for company A)

1m death+tpd : $479.84
$2m death + tpd : $872.96

If DII is also 30 years( different medical related occupation has a different rate from what I understand, i based mine off a doctor/specialist ):

0% escalating : $2513.16
3% escalating : $2970.33

 

[xtwis7]

Thanks for the clarification. Doctors are still considered class 2 but surgeons are class 3 due to the more specialised nature so just a note since medical field can be very broad. Revised quotes for your consideration.

$1m - $2,820.40/yr
$2m - $3,253.40/yr

Also need to highlight that since the PayAssure exceeds the non-medical limit, a medical examination will be required. This is a point that I don’t usually bring up unless the benefit is in excess of $7.5k that’s why it may be more feasible to go for $7.5k first then top up the shortfall. A medical examination can always throw some surprise if results are sub-par. That’s my 2 cents.

Sorry the occupation is class 2 (medical field)

I'll re-write the reqs.

term is 30 years (for rider as well)
1m total assured / and quote for 2m total
9k per month pay assure rider
Waiting period is 90 days.

 

[BBCWatcher]

Thanks for the resources. I know I can settle these myself but I prefer to be in contact with an adviser so that in case next time really end up in hospital, I know who to find ma. Can't be I lie on hospital bed and still need DIY right?

Well, yes and no. Your agent might happen to be on vacation when you're checked into the hospital. There's no guarantee your agent will be around at the particular moment you might want to reach her. I think it's still prudent to get familiar with your policy and its claim procedures. And actually Integrated Shield plans don't need too much attention. At public hospitals it's particularly easy since all the claims are filed electronically and directly. For private hospitals (and assuming you have PRUShield Premier), just stick with the medical providers listed in PRUPanel Connect (or any of the public medical providers), and you should be all set. PRUPanel Connect will indicate whether the particular provider can file an electronic claim directly with Prudential.

That said, if you don't know who your currently assigned agent is for that particular policy, just log onto your Prudential account ("PRUaccess"), and in one or more of the policy documents you should find your current agent's name and contact number.

 

[MrPippen]

Well, yes and no. Your agent might happen to be on vacation when you're checked into the hospital. There's no guarantee your agent will be around at the particular moment you might want to reach her. I think it's still prudent to get familiar with your policy and its claim procedures. And actually Integrated Shield plans don't need too much attention.

Agree with you, but knowing who is in-charge is good too. I bought the policy from a friend, she left and now keep passing to god knows who.'

For private hospitals (and assuming you have PRUShield Premier), just stick with the medical providers listed in PRUPanel Connect (or any of the public medical providers), and you should be all set. PRUPanel Connect will indicate whether the particular provider can file an electronic claim directly with Prudential.

Can't really be bothered to keep checking. I don't know my login details. Too lazy to keep tracking so many.

That said, if you don't know who your currently assigned agent is for that particular policy, just log onto your Prudential account ("PRUaccess"), and in one or more of the policy documents you should find your current agent's name and contact number.

Messaged her. She told me she will get back to me tomorrow. It has been a week.

 

[BBCWatcher]

Can't really be bothered to keep checking.

Well, that could be a problem. Prudential has a provider panel, and, if you're trying to get private medical care, who and where you get your care could greatly influence how much or how little you're covered. I don't think you need to log in to search the PRUPanel Connect directory. Just bookmark the Web site so you have it when you need it:

https://www.prudential.com.sg/prupanel-connect

If your agent hasn't responded then you could "nudge" the agent a bit. Call Prudential at 6333 0333 and ask them to ask your agent for a callback. (Maybe you have a new agent you don't know about yet.)

 

[winthony]

Actually not very well versed in this, and i noted more expensive for smoker.
I though should over longer in case she kena at 71 (assuming cover only till 70)?
No kids so dont think need whole life.

We have manualife retireready plus (think got TDP) and a GE hospital plan only.

She has thyriod condition so best can dont medical check.

Can you recommend, hope not too expensive.

If you want coverage till 99, NTUC does have it till 99.

With thyroid, even without medical check, you have to declare as well.

I have quoted 1 company in the previous page.