Getting started with insurance

[luncheonmeat_sg]

For most cost efficient coverage, definitely term plan, esp with big ticketed items coming up.

Have ur kidney stones been removed? This will need to undergo underwriting btw

Below quotes from AXA Direct, comes with extra 50% coverage for first 3 years as well.

1) $200k Death/TPD/ECI
Till age 65 @ $1235.20/year
Till age 70 @ $1434.24/year

2) $250k Death/TPD/ECI
Till age 65 @ $1544/year
Till age 70 @ $1792.80/year

Hi moejoseph can you kindly quote for standalone ECI+CI cvg $200K till 65yo?

Hmm, with that budget it would be probably wiser to get onto a term

Roughly quotation would be a term till age 65 covering you for 200k death/tpd + 80k ECI which would be $1238.80/annually

That being said, your condition would certainly be subjected to medical underwriting

Thanks winthony. Noted that my kidney condition might be excluded, but likewise could you kindly quote standalone ECI+CI $200K till 65yo?

Many TIA!

 

[winthony]

Hi moejoseph can you kindly quote for standalone ECI+CI cvg $200K till 65yo?



Thanks winthony. Noted that my kidney condition might be excluded, but likewise could you kindly quote standalone ECI+CI $200K till 65yo?

Standalone products are not viable in terms of premium!

You're welcome

Perhaps you might wanna look at term 200k death/tpd + 200k eci since an eci rider covers all stages of CI!

T:$1803.60/annually

 

[luncheonmeat_sg]

Standalone products are not viable in terms of premium!

Perhaps you might wanna look at term 200k death/tpd + 200k eci!

T:

I see.. thanks for the advises! I did actually thought about it and also did bit of search for online quotes(moneyowl) --- standalone ECI+CI for my profile+request is $1740/annum and standalone CI is $912/annum so it makes more sense to get a death/tpd bundled.

Would you be able to quote for term 200k death/tpd/eci and 200k death/tpd/eci/CI till 65yo?

TIA!

 

[winthony]

I see.. thanks for the advises! I did actually thought about it and also did bit of search for online quotes(moneyowl) --- standalone ECI+CI for my profile+request is $1740/annum and standalone CI is $912/annum so it makes more sense to get a death/tpd bundled.

Would you be able to quote for term 200k death/tpd/eci and 200k death/tpd/eci/CI till 65yo?

TIA!

I have done so for the death/tpd/eci at 200k each below!

as for the request with CI, you mean you want to have 200k for ci + 200k for eci + 200k for death/tpd?

 

[moejoseph]

Hi moejoseph can you kindly quote for standalone ECI+CI cvg $200K till 65yo?

For AXA and most insurers, there's no more standalone . As they are focusing on multipay now.

Maybe u would like to do $400k Death/TPD, $200k ECI, $200k CI, if u are looking at $200k each for both ECI and CI?

 

[moejoseph]

Hi moejoseph can you kindly quote for standalone ECI+CI cvg $200K till 65yo?

Many TIA!

Based on birth year 1984

$400k Death/TPD, $200k ECI, $200k CI
Till age 65 @ $2072.80/year

 

[luncheonmeat_sg]

Standalone products are not viable in terms of premium!

You're welcome

Perhaps you might wanna look at term 200k death/tpd + 200k eci since an eci rider covers all stages of CI!

T:$1803.60/annually

I have done so for the death/tpd/eci at 200k each below!

as for the request with CI, you mean you want to have 200k for ci + 200k for eci + 200k for death/tpd?

Thanks! i'll go for 200k death/tpd/eci till 65yo and consider your quote for comparisons.

Based on birth year 1984

$400k Death/TPD, $200k ECI, $200k CI
Till age 65 @ $2072.80/year

Thanks! i'll consider for your previous quote of 200k for death/tpd/eci.


Aside to all experts, don't mind if i can kindly get more other quotations for $200k death/tpd/eci till 65yo please. TIA!

 

[kimberchin]

So sorry just starting out to buy insurance. I have been reading ‘till 65’. This means coverage is only till 65 years right?

While whole life policies, pay to 65 years old, coverage is still death?

 

[boredboiboi]

So sorry just starting out to buy insurance. I have been reading ‘till 65’. This means coverage is only till 65 years right?

While whole life policies, pay to 65 years old, coverage is still death?

Yes till 65 mean coverage till 65
Wholelife is depends u wan pay how many years and multiplier until what age and coverage is for life (age 99) yea

 

[moejoseph]

So sorry just starting out to buy insurance. I have been reading ‘till 65’. This means coverage is only till 65 years right?

While whole life policies, pay to 65 years old, coverage is still death?

Whole life usually till age 99, with multiplier before age 70 / 75. In a way, it is a "sure pay" policy but to your dependants.

For Term, coverage till the age means the plan will end then.

 

[BBCWatcher]

Whole life usually till age 99, with multiplier before age 70 / 75.

No, whole life is whole life. If coverage ends on your 99th birthday, that’s term to age 99. Some parts of the insurance industry like to call term to age 99 (or age 100) “whole life.” Some parts of the insurance industry are facing (and typically losing) lawsuits for such (mis)behaviors.

 

[xtwis7]

Indeed some of the companies’ whole life policies expire at age 99 or 100. True whole life coverage even beyond 100 is GE and possibly a few others.

Would like to see the policy wording from the companies you represent too.

Yes till 65 mean coverage till 65
Wholelife is depends u wan pay how many years and multiplier until what age and coverage is for life (age 99) yea

 

[moejoseph]

No, whole life is whole life. If coverage ends on your 99th birthday, that’s term to age 99. Some parts of the insurance industry like to call term to age 99 (or age 100) “whole life.” Some parts of the insurance industry are facing (and typically losing) lawsuits for such (mis)behaviors.

I mean the actual whole life plan. They are till age 99 as well.

I guess it is commonly understood as well that most ppl can't live past age 99 bah. With WL ending age 99, it is already expensive, can't believe if it is really whole life kind of whole life, how much would that cost.

Not many will be willing to buy into a WL plan of it ends say, at age 120. Especially if premium is much higher. Same goes for actual term plan till age 99. Not a popular choice in market because premium can get a Whole Life plan instead, woth cash value.

 

[boredboiboi]

Indeed some of the companies’ whole life policies expire at age 99 or 100. True whole life coverage even beyond 100 is GE and possibly a few others.

Would like to see the policy wording from the companies you represent too.

Cover till wholelife or 99. For cover till 99, if survive 99, the death benefit is payout.

 

[xtwis7]

Oh, i didn’t know if you survive till 99 the death benefit is paid out for some of the companies.

Cover till wholelife or 99. For cover till 99, if survive 99, the death benefit is payout.

 

[BBCWatcher]

Such policies typically have a forced surrender clause upon reaching one's 99th birthday. One huge problem with such clauses is that, in many jurisdictions, death benefits are tax free or tax favored, but pre-death policy surrenders (forced or voluntary) are not since they fall under investment tax rules. If you and your loved one(s) are only subject to Singapore's tax rules, and if Singapore's tax rules don't change, then maybe this arrangement still works. But at the very least a forced surrender clause could financially complicate possible overseas retirement.

I don't think you should generally buy term life insurance policies with terms much beyond age 65, so this should be pretty moot.

 

[nicccccs]

Quote for Aviva

Hi, Can i get a quote for aviva mywhole life plan 100k no multiplier, with the ci and tpd rider(both 100k) for 21 y/o will be how much?

 

[boredboiboi]

Hi, Can i get a quote for aviva mywhole life plan 100k no multiplier, with the ci and tpd rider(both 100k) for 21 y/o will be how much?

Aviva wholelife plan cannot no multiplier. Min is x2.
Manulife can no multiplier

 

[nicccccs]

Aviva wholelife plan cannot no multiplier. Min is x2.
Manulife can no multiplier

hmm, which company would you recommend right now in terms of best bang for buck

 

[boredboiboi]

hmm, which company would you recommend right now in terms of best bang for buck

If no multiplier not many company. I generate 1 let u see the premium first.
U wan pay how many years?
And the gender?
21 is age next or last birthday?