Switching insurance for CareShield Life supplement

[muscular_boy]

Hi,

I am currently paying for Singlife CareShield Plus and wanted to switch to NTUC Income Care Secure mainly because
1) SingLife is unresponsive. Saw many reviews on their claims are super slow/not responsive.
2) Disability Monthly Payout for the same amount has cheaper preimum for NTUC Income Care Secure.

Do you think switching is a good idea?

Also does the premium increased overtime or fixed until Premium terms end?

Thank you.

 

[bluerail]

How long have you been paying for? The payout structure also works differently, not sure if you have adequately considered that.

Also does the premium increased overtime or fixed until Premium terms end?

depends on your plan, only Singlife has an escalating premium feature.

 

[qhong61]

Hi,

I am currently paying for Singlife CareShield Plus and wanted to switch to NTUC Income Care Secure mainly because
1) SingLife is unresponsive. Saw many reviews on their claims are super slow/not responsive.
2) Disability Monthly Payout for the same amount has cheaper preimum for NTUC Income Care Secure.

Do you think switching is a good idea?

Also does the premium increased overtime or fixed until Premium terms end?

Thank you.

Need underwriting

 

[muscular_boy]

Need underwriting

Care to explain more? Thanks.

 

[muscular_boy]

How long have you been paying for? The payout structure also works differently, not sure if you have adequately considered that.

depends on your plan, only Singlife has an escalating premium feature.

started 2 years ago.
Isnt escalating premium bad since as we get older, we will struggle to afford the insurance?

 

[qhong61]

Care to explain more? Thanks.

If u already have chronic, quite difficult to change insurers unless u willing to pay high premium.

 

[reddevil0728]

Care to explain more? Thanks.

Basically need to like declare any medical conditions.

started 2 years ago.
Isnt escalating premium bad since as we get older, we will struggle to afford the insurance?

I think it’s more of the payout escalates to “combat inflation”

 

[royalmix]

started 2 years ago.
Isnt escalating premium bad since as we get older, we will struggle to afford the insurance?

Careshieldlife premium increases 2% every year! And you still add on another policy with escalating premium?

How old are you now? How many more years of premium do you have to pay?

 

[bluerail]

Care to explain more? Thanks.

Basically need to make sure you are still insurable when you make your new application.

started 2 years ago.
Isnt escalating premium bad since as we get older, we will struggle to afford the insurance?

Need to check your plan and budget. That being said, Singlife offers level term and escalating premiums, so need to check which one you are on. If you are willing, maybe you can give me some basic info and I generate a summary of your options so you can see which course of action is the best for you?

 

[blurpandasg2014]

Hi,

I am currently paying for Singlife CareShield Plus and wanted to switch to NTUC Income Care Secure mainly because
1) SingLife is unresponsive. Saw many reviews on their claims are super slow/not responsive.
2) Disability Monthly Payout for the same amount has cheaper preimum for NTUC Income Care Secure.

Do you think switching is a good idea?

Also does the premium increased overtime or fixed until Premium terms end?

Thank you.

Ntuc payout for 3ADL is inclusive of the CSL $600

Singlife is additional on top of the $600

Premiums are fixed. I have 1 NTUC CSL supplement and 1 GE CSL supplement. Do note that you need to manually cancel the singlife one if you purchase the ntuc one. It will not auto cancel

 

[xtwis7]

Hi,

I am currently paying for Singlife CareShield Plus and wanted to switch to NTUC Income Care Secure mainly because
1) SingLife is unresponsive. Saw many reviews on their claims are super slow/not responsive.
2) Disability Monthly Payout for the same amount has cheaper preimum for NTUC Income Care Secure.

Do you think switching is a good idea?

Also does the premium increased overtime or fixed until Premium terms end?

Thank you.

The underwriting is a simplified form so unless you’ve had near CI levels kind of conditions, most people would get accepted for the supplement.

Strangely you considered Income because as far as I know, Income is really not competitive at all so it usually tends to be either Singlife for their escalating payouts or GE for their 1 ADL 50% payout.

 

[~sabaisabai~]

Hi,

I am currently paying for Singlife CareShield Plus and wanted to switch to NTUC Income Care Secure mainly because
1) SingLife is unresponsive. Saw many reviews on their claims are super slow/not responsive.
2) Disability Monthly Payout for the same amount has cheaper preimum for NTUC Income Care Secure.

Do you think switching is a good idea?

Also does the premium increased overtime or fixed until Premium terms end?

Thank you.

u can switch provided you do not have any other medical conditions

 

[harky]

no $$ for Careshieldlife

 

[reddevil0728]

no $$ for Careshieldlife

what do you mean by no $$

 

[harky]

what do you mean by no $$

mean i nv buy

 

[reddevil0728]

mean i nv buy

do you mean the supplement?

 

[BBCWatcher]

started 2 years ago.
Isnt escalating premium bad since as we get older, we will struggle to afford the insurance?

No, not usually. Ordinarily wages increase due to inflation and career progression. A reasonable premium escalation trajectory could be ideal in terms of allowing you to insure at an adequate level while not overburdening you early in a working life (when you’re often most financially vulnerable).