Getting started with insurance

[winthony]

PruCancer360....seems cheap? Worth getting?

If you want to get an extra layer of coverage for just cancer alone, its worth looking at it! Normally I feel coverage should be holistic enough to cover any area instead of a targeted area instead. In this case, cancer is the only thing its covering and if *touch wood* you dont get diagnosed with cancer but some other CIs, you will be hating yourself for getting such narrow coverage.

But ultimately, also need to see individual's needs la

 

[MrPippen]

If you want to get an extra layer of coverage for just cancer alone, its worth looking at it! Normally I feel coverage should be holistic enough to cover any area instead of a targeted area instead. In this case, cancer is the only thing its covering and if *touch wood* you dont get diagnosed with cancer but some other CIs, you will be hating yourself for getting such narrow coverage.

But ultimately, also need to see individual's needs la

Thanks!!!!!!

 

[winthony]

Thanks!!!!!!

No worries

 

[twinklingstars]

Hi guys, need some advice here. I bought a Tokio Marine Legacy Lifetime a couple of years ago. It also includes TPD Benefit and Dread Disease/Early Care Accelerator Rider. I'm single and has no dependents, so the life insurance is not necessary in my opinion. I'm thinking of giving up this policy, any thoughts?

 

[xtwis7]

TM legacy policy has been known to be one of the better life policies around in terms of the projected values. How many years was this? Technically being single without dependents will still allow you to use the CI benefit for yourself.

Hi guys, need some advice here. I bought a Tokio Marine Legacy Lifetime a couple of years ago. It also includes TPD Benefit and Dread Disease/Early Care Accelerator Rider. I'm single and has no dependents, so the life insurance is not necessary in my opinion. I'm thinking of giving up this policy, any thoughts?

 

[boredboiboi]

Hi guys, need some advice here. I bought a Tokio Marine Legacy Lifetime a couple of years ago. It also includes TPD Benefit and Dread Disease/Early Care Accelerator Rider. I'm single and has no dependents, so the life insurance is not necessary in my opinion. I'm thinking of giving up this policy, any thoughts?

Keep it. Its one of the best wholelife plan last time. U only dont need the death coverage but u still need the tpd,ci and eci and That where most of the premium is going too.

 

[Alpha_10]

My current NTUC critical illness plan was bought around 30 years ago. The coverage is $50,000.
Should I change to another company with higher coverage? Will there be any repercussion if change insurance company?
I know for health insurance of change another company, they can reject claims under underlying health issues.

 

[boredboiboi]

My current NTUC critical illness plan was bought around 30 years ago. The coverage is $50,000.
Should I change to another company with higher coverage? Will there be any repercussion if change insurance company?
I know for health insurance of change another company, they can reject claims under underlying health issues.

30 years ago. Means its very old plan and covers much much less conditions. U can dont need to cancel. Just add on a new plan to close up your coverage gaps.

 

[Alpha_10]

30 years ago. Means its very old plan and covers much much less conditions. U can dont need to cancel. Just add on a new plan to close up your coverage gaps.

I was advised by an Insurance Agent to switch from ntuc to another insurance company like AIA or great eastern. Is it recommended to do that?

 

[boredboiboi]

I was advised by an Insurance Agent to switch from ntuc to another insurance company like AIA or great eastern. Is it recommended to do that?

Are you talking about hospital plan or ci plan? I dont know what is your plan. Dont know if swtich will be better

 

[Alpha_10]

Are you talking about hospital plan or ci plan? I dont know what is your plan. Dont know if swtich will be better

CI plan under NTUC now. If I switch to great eastern cause Coverage higher, will u recommend?
Or I should just stay with NTUC and increase coverage

 

[boredboiboi]

CI plan under NTUC now. If I switch to great eastern cause Coverage higher, will u recommend?
Or I should just stay with NTUC and increase coverage

Stick and increase coverage
Unless a replacing will get u a better coverage with same or cheaper premium. And why GE? Not other choices?

 

[Alpha_10]

Stick and increase coverage
Unless a replacing will get u a better coverage with same or cheaper premium. And why GE? Not other choices?

GE monthly premium lower than NTUC and coverage higher. Not sure if it’s accurate, it’s from Google.

 

[winthony]

GE monthly premium lower than NTUC and coverage higher. Not sure if it’s accurate, it’s from Google.

If lets say your current coverage is 50k and you wishes to bump it up to 150k,
you can check if

1. Having an additional policy would be cheaper over ( current premium + 100k policy premium )
2. Replacing entirely ( 150k premium lesser than option 1.)

This would help in making a decision! So you might want to state what form of coverage or product you are looking at and we can then review it from the finance point of view.

The actual premium still have to come from the official company's portal to be accurate!

 

[McFadden]

what do you all think about investment linked policy(ILP)?

 

[boredboiboi]

what do you all think about investment linked policy(ILP)?

What do u mean by what we think? I personally did buy 100% invested ilp without coverage for myself and my family.

 

[winthony]

what do you all think about investment linked policy(ILP)?

It depends on individual! ILP do potentially provide a higher return compared to other products. Some people might like the fact that it dabbles with investment instruments that they themselves might not go into on your own accord.

However, some people shun away due to the fact that the fees involve could be unsatisfactory and as time goes by, certain unit of investment would be sold off for your insurance coverage. so in the event if the investment portion is not doing well, you might even have to pay additional premium to service the insurance coverage portion.

 

[Alpha_10]

Hi everyone, pls advise if it is overpaying for the insurance???

31 M, non smoker
Current plans from AXA
1) Life insurance + early CI = $280,000 coverage , $318 monthly premium
2) accident plan : $165/ year

Pls advise if should continue with AXA
Thanks

 

[xtwis7]

You don’t have your hospitalisation plans? If that’s the case, just curious what did your agent exactly tell you hence getting the life insurance and PA plan.

Since you are also working, it will make a lot of sense to add on Disability Income as well because it offers a much wider scope of coverage.

You did not mention if you’re single or married since the life stage you’re in will also determine which would be your priority but the 2 above categories I mentioned above will be absolutely necessary for anyone, whether single or married.

Hi everyone, pls advise if it is overpaying for the insurance???

31 M, non smoker
Current plans from AXA
1) Life insurance + early CI = $280,000 coverage , $318 monthly premium
2) accident plan : $165/ year

Pls advise if should continue with AXA
Thanks

 

[winthony]

Hi everyone, pls advise if it is overpaying for the insurance???

31 M, non smoker
Current plans from AXA
1) Life insurance + early CI = $280,000 coverage , $318 monthly premium
2) accident plan : $165/ year

Pls advise if should continue with AXA
Thanks

The priority should always be on Hospitalisation -> Disability Income Insurance -> Death/TPD/ECI/CI -> Accident


How long have you been on the AXA policy? What is the ECI coverage amount? Perhaps with more info I can get some quotations out for you to compare and see if you are overpaying.

The accident plan , you can reconsider if you really need that because it is really in the event of accident, then it would come into play. Normally would not advise unless client really wish to have it