Help about term insurance coverage

[livingston]

Hi All,

do anyone have any idea for the term insurance policy?
i am considering FWD, AXA and Prudential for the term insurance....
but i quite confuse with the coverage and the differential between this 3 policy.....
which is better? what is the total and permanent disability coverage and exclusion?

Or any other channel(web site/forum) show more of people experience/ complaint/feedback regarding the policy/insurance.

thanks.

 

[BBCWatcher]

Are you comparing term life insurance purchased directly (direct purchase insurance), and through a comparison site (notably CompareFIRST.sg)? The DPI term life policies have standardized terms and conditions.

 

[JuniorLion]

Go Direct Purchase Insurance and check out comparefirst.sg

 

[Bonhun]

https://www.diyinsurance.com.sg/por...nce+Comparison+Table+(August+2018)+&art_id=20

Alot of info can be found online, please do homework and ask again if you got more question.

 

[dendii]

Any reasons for this 3 companies? If you are healthy there wont be any exclusions.

I don’t think you can find much information of feedback/complaints.

Term life is pretty straight forward. In event of death/tpd, you get the lump sum assured. Most complaints if any are towards ILPs, endowments.

Hi All,

do anyone have any idea for the term insurance policy?
i am considering FWD, AXA and Prudential for the term insurance....
but i quite confuse with the coverage and the differential between this 3 policy.....
which is better? what is the total and permanent disability coverage and exclusion?

Or any other channel(web site/forum) show more of people experience/ complaint/feedback regarding the policy/insurance.

thanks.

 

[BBCWatcher]

Term life is pretty straight forward. In event of death/tpd, you get the lump sum assured.

It's not quite that straightforward. If you die within the policy term, you are dead, kaput, finito. Your beneficiary is the one who receives the payout, assuming he/she files a claim -- very important!

 

[molobok]

Hi All,

do anyone have any idea for the term insurance policy?
i am considering FWD, AXA and Prudential for the term insurance....
but i quite confuse with the coverage and the differential between this 3 policy.....
which is better? what is the total and permanent disability coverage and exclusion?

Or any other channel(web site/forum) show more of people experience/ complaint/feedback regarding the policy/insurance.

thanks.

Definitions are important! Have to consider if suicide is covered, the definitions for total and permenant disability and early stage critical illnesses are different for different companies.

Otherwise, it’s the same for all companies for Term insurance:
1) cover how much
2) cover until when
- pay as you cover, some term insurance allows you to recover the premiums paid (though you’ll lose opportunity costs)

Terminal illnesses and critical illnesses definitions are standardised across the board by Life Insurance Association of Singapore.

 

[livingston]

Any reasons for this 3 companies? If you are healthy there wont be any exclusions.

I don’t think you can find much information of feedback/complaints.

Term life is pretty straight forward. In event of death/tpd, you get the lump sum assured. Most complaints if any are towards ILPs, endowments.

The credit rank is different for this 3 company, the price is also different for this 3 company according to their credit rank. from BBB-, AA- to AA.
i do hope to find people sharing their problem face.......so we can understand more

 

[livingston]

It's not quite that straightforward. If you die within the policy term, you are dead, kaput, finito. Your beneficiary is the one who receives the payout, assuming he/she files a claim -- very important!

any experience/advise share?

 

[livingston]

Definitions are important! Have to consider if suicide is covered, the definitions for total and permenant disability and early stage critical illnesses are different for different companies.

Otherwise, it’s the same for all companies for Term insurance:
1) cover how much
2) cover until when
- pay as you cover, some term insurance allows you to recover the premiums paid (though you’ll lose opportunity costs)

Terminal illnesses and critical illnesses definitions are standardised across the board by Life Insurance Association of Singapore.

Any experience/advise share?

 

[molobok]

Any experience/advise share?

Personally I’m a whole life + limited pay person. So the only term insurance I have is personal accident and early stage critical illnesses.

Why these?
Because personal accident is a term plan itself, and early stage critical illnesses is to cover the shortfall I have as I “underpurchased” this coverage in my whole life plans.

How much is enough?
It depends on individual. For myself, I’d like to set aside $2k monthly for these times, and I also know how to invest money that I can get recurrent income while I’m in trouble, so about half a million coverage for me is enough. The figure will vary for individuals depending on circumstances, such as family commitments, personal lifestyle choices and budget!

Having too little coverage doesn’t help in times of need. Having too much will cause you to have issues with your money. But having more is always better than having too little, when you don’t know what’s enough!

 

[exterminazn]

It's not quite that straightforward. If you die within the policy term, you are dead, kaput, finito. Your beneficiary is the one who receives the payout, assuming he/she files a claim -- very important!

What do you mean by not that straightforward for death claim? For TPD claim, of course difficult...