Getting started with insurance

[findmehereeee]

Hi!

Hmm i see, so personal accident may not be necessary since most employers do cover a portion of the hospital bills?

Ok, will consider replacing old plans with a new plan. Could i get the quotation for the following?
F, ANB 25, non smoker, $100k life insurance CI/TPD until age 70,75,85

Greatly appreciate your help!

 

[boredboiboi]

Hi!

Hmm i see, so personal accident may not be necessary since most employers do cover a portion of the hospital bills?

Ok, will consider replacing old plans with a new plan. Could i get the quotation for the following?
F, ANB 25, non smoker, $100k life insurance CI/TPD until age 70,75,85

Greatly appreciate your help!

Dont get too many quotes. Get what you actually need. For example same premium till age 70 will fetch lesser till age 85. So you will want higher coverage if till age 70 instead till 85.

Maybe list your your budget. For your age, you can consider both term or wholelife plan as your age is very young to look at wholelife plan.

 

[BBCWatcher]

The GE quotation of $1,050 pa is until age 65, deferral of 60 days, was told the deferral period didn't affect the premium but rather the coverage (i.e. lesser of 75% pre-disability income or $4k) did.

The deferral period has some impact on premiums, i.e. premiums are lower the longer the deferral period. I'd ask for a revised quotation for a 6 month deferral. You should have at least 6 months of emergency reserve funds on hand anyway. A 60 day deferral (the shortest) is pretty ridiculous for this type of insurance. I think the premium is going to be at least 10% lower with a 6 month deferral.

 

[abcde339900]

Manulife: Manuprotect term

ANB36 male, non-smoker, Sg resident

Life/TI SGD $1M (maximum premium term duration)
Life/TI SGD $1M + TPD rider SGD $1M (Maximum premium term duration)
.
Life/Ti SGD $1M+ TPD SGD $1M+ Critical illness $300k (Maximum premium term)
Life/Ti SGD $1M+ TPD SGD $1M+ Critical illness $300k + Early Critical illness $300k (max premium term)
------------------------------
Any Manulife agent can help to quote the premium? Keen to consider due to 25% perpetual discount

 

[boredboiboi]

ANB36 male, non-smoker, Sg resident

Life/TI SGD $1M (maximum premium term duration)
Life/TI SGD $1M + TPD rider SGD $1M (Maximum premium term duration)
.
Life/Ti SGD $1M+ TPD SGD $1M+ Critical illness $300k (Maximum premium term)
Life/Ti SGD $1M+ TPD SGD $1M+ Critical illness $300k + Early Critical illness $300k (max premium term)
------------------------------
Any Manulife agent can help to quote the premium? Keen to consider due to 25% perpetual discount

I can help you to quote manulife. Maximum is 40 years or till age 85, whichever comes first. For your case will be 40 years term. Manulife term does not have early ci rider. Will quote for you now.

All premium is before the 25% perpetual discount.
1) Life/TI SGD $1M (40 years term) - $2066/year
2) Life/TI SGD $1M + TPD rider SGD $1M (40 years term) - $2219/year
3) Life/Ti SGD $1M+ TPD SGD $1M+ Critical illness $300k (40 years term) - $3279.50/year
4) Life/Ti SGD $1M+ TPD SGD $1M+ Critical illness $300k + Early Critical illness $300k (max premium term)- not available

 

[xtwis7]

For your $1m Death and/or TPD, GE’s Great Term might suit you really well.

Get back to you on the quotes because we now have the flexibility to extend premium term all the way till age 100.

ANB36 male, non-smoker, Sg resident

Life/TI SGD $1M (maximum premium term duration)
Life/TI SGD $1M + TPD rider SGD $1M (Maximum premium term duration)
.
Life/Ti SGD $1M+ TPD SGD $1M+ Critical illness $300k (Maximum premium term)
Life/Ti SGD $1M+ TPD SGD $1M+ Critical illness $300k + Early Critical illness $300k (max premium term)
------------------------------
Any Manulife agent can help to quote the premium? Keen to consider due to 25% perpetual discount

 

[zzzzzz87]

pregnant can buy term insurance or multipay insurance?

 

[xtwis7]

No issues unless you have GD diagnosed which may be a bit more complicated.

pregnant can buy term insurance or multipay insurance?

 

[boredboiboi]

pregnant can buy term insurance or multipay insurance?

Yup no issue unless u got condition or complication.

 

[abcde339900]

Manulife: Manuprotect term

Any Manulife agent can help to quote the following

35 male, non-smoker, SGP resident

Life/TI $400k (premium terms = policy term till age 65)

Life/TI/TPD $400k (Premium terms = policy term till age 65)

Or similar terms for the same sum assured pls.

 

[boredboiboi]

Any Manulife agent can help to quote the following

35 male, non-smoker, SGP resident

Life/TI $400k (premium terms = policy term till age 65)

Life/TI/TPD $400k (Premium terms = policy term till age 65)

Or similar terms for the same sum assured pls.

Here you go

Age next birthday 35 male non smoker ( premium is before 25% perpetual discount)

Life/TI $400k (premium terms = policy term till age 65) - $677.60/year

Life/TI/TPD $400k (Premium terms = policy term till age 65) - $737.60/year

 

[xtwis7]

Perhaps one more option for you to consider would be GE’s Great Term.

Based on 35ANB, policy duration of 30 years:

With TPD - $539/yr
W/o TPD - $507/yr

Great Term rates for males is really very attractive honestly.

Any Manulife agent can help to quote the following

35 male, non-smoker, SGP resident

Life/TI $400k (premium terms = policy term till age 65)

Life/TI/TPD $400k (Premium terms = policy term till age 65)

Or similar terms for the same sum assured pls.

 

[zzzzzz87]

Perhaps one more option for you to consider would be GE’s Great Term.

Based on 35ANB, policy duration of 30 years:

With TPD - $539/yr
W/o TPD - $507/yr

Great Term rates for males is really very attractive honestly.

What’s the difference between great term and direct great term? Other than one is with agent and one is without agent.

 

[Mr. Wood]

if >10yrs ago go operation, discharge and now recover. lidat wht is the chance dat insurer will not hav exclusions for ISP.

 

[boredboiboi]

if >10yrs ago go operation, discharge and now recover. lidat wht is the chance dat insurer will not hav exclusions for ISP.

You want to provide more info? Like what kind of operation?

 

[xtwis7]

Direct great term is basically one that consumers can buy directly through the insurer. Besides handling the policy servicing yourself, you do save like a few dollars but is it worth it? Some people choose direct solely for the reason that they don’t want agents to earn their commission.

Direct quote for $400k is $510 as compared to $539 so if one feels that the $30 difference is worth saving then by all means go ahead.

What’s the difference between great term and direct great term? Other than one is with agent and one is without agent.

 

[xtwis7]

Depends on condition. Very hard to give you a number or percentage that you’ll be accepted without exclusions.

if >10yrs ago go operation, discharge and now recover. lidat wht is the chance dat insurer will not hav exclusions for ISP.

 

[Mr. Wood]

wht is insurance panel doctors? how it works? who they actually work for and how patients can be sure they will not overcharge or suggest unnecessary treatment ?

 

[winthony]

wht is insurance panel doctors? how it works? who they actually work for and how patients can be sure they will not overcharge or suggest unnecessary treatment ?

Basically it would be a list of doctors that are approved or in partnership with the insurer you are with. Most of the time its applicable for scheduled visit. The doctors are of course working with the respective hospital / clinic.

The reason for such panel is that in the past, insurers are afraid that the reimbursement of medical bill after a visit to, lets say, a private practitioner would incur a higher cost as client would be getting the reimbursement since their policies covers for it.

This is a way of trying to cap the cost and approve such visit without a bill shock to the insurer

 

[Investnewbie82]

Will like your opinion on my parents hospitalization insurance. Basically it’s the old NTUC plan B insurance. As they were not financially literate, they only bought when they were at old. The plan comes with some exclusions like heart related diseases and blood related issues. Last few times they were hospitalized they were unable to claim much due to the exclusions.

Is it still worthwhile to keep the plans? Paying about $1000-$2000 a year but unable to claim anything when they need it. But going without coverage.. what are the risks?

Thanks so much in advance!