Term Insurance 500K

[googol]

Friend of mine, getting a term insurance as below. Anyone can suggest, which company has the lowest premium for this?

Amount: 500K
Policy term: 5 years.
33 Years, Male, Non Smoker

 

[avalonie]

Friend of mine, getting a term insurance as below. Anyone can suggest, which company has the lowest premium for this?

Amount: 500K
Policy term: 5 years.
33 Years, Male, Non Smoker

Why only get 5 years? 5 years time he only 38?
Or "touch wood" he predict he only live till 38?

 

[googol]

Why only get 5 years? 5 years time he only 38?
Or "touch wood" he predict he only live till 38?

longer term plans are more expensive. at 38 take another 5 year plan , cheaper than taking 10 year plan now? any suggestions are welcome


the best offer is 400$(annual) for 400K from AIA
600$ (12x50) for 1 M from AIA. anywhere can get better offer?

 

[lukaloo]

his intention for mortgage ins or for his family?

his concern death, disability or critical illness?

while buying renewable term plan, 2 point to take note :

1. premium normally increase exponentially with age. to answer your question, getting a 10 year term is cheaper.
For 33 yo, if its for his family,normally cover until kid grown up or parent left. Getting a 30 yr term plan is much cheaper than renew 5 times.

If he is single, dun save money, critical illness cover is important.

2. upon renewal, you may not be covered for condition appears before renewal. Better check the contract properly.


For Prudential, for 10yr coverage
$500k (death/disability) + premium waiver upon early stage illness
-> $340/yr
promo price until march 31st = $ 272/yr

if you want to add critical illness cover
$500k death/disability + 250K accelerated critical illness + premium waiver upon early stage illness
->$658/yr
promo price till 31st march $460.57

PM you my contact, you can pass to ur friend.

Cheers.

 

[kebinu]

Go for a term plan which increases its premium every 5 years. the "break even" premium payment is around 50+ years old.

It's foolish to do what you have stated because you won't be guaranteed to be insured.

Aviva will be the cheapest but I would really avoid them at all cost, for any insurance.

 

[googol]

Go for a term plan which increases its premium every 5 years. the "break even" premium payment is around 50+ years old.

It's foolish to do what you have stated because you won't be guaranteed to be insured.

Aviva will be the cheapest but I would really avoid them at all cost, for any insurance.

thanks for the advice. need some clarifications

"Go for a term plan which increases its premium every 5 years. the "break even" premium payment is around 50+ years old." any such term plan u can recommend?


"It's foolish to do what you have stated because you won't be guaranteed to be insured."
thanks . i realize taking multiple short term plans is risky

 

[FP_IFA]

There are guaranteed 5 years renewable term plans out there. The renewable means you don't have to go for medical underwriting when you renew. The premium will of course be higher after every 5 years.

 

[googol]

There are guaranteed 5 years renewable term plans out there. The renewable means you don't have to go for medical underwriting when you renew. The premium will of course be higher after every 5 years.

can suggest anyone?

 

[kebinu]

smart term assurance
smart term living assurance

both from GE.

 

[SquallLH]

Go for a term plan which increases its premium every 5 years. the "break even" premium payment is around 50+ years old.

It's foolish to do what you have stated because you won't be guaranteed to be insured.

Aviva will be the cheapest but I would really avoid them at all cost, for any insurance.

Why avoid aviva at all cost?

 

[kebinu]

Why avoid aviva at all cost?

Google

Breast cancer avoid payout

Only aviva has a special clause which give its policyholders a major disadvantage.

 

[Aerial86]

Google

Breast cancer avoid payout

Only aviva has a special clause which give its policyholders a major disadvantage.

Hi, could you direct me to the link? I googled but can't find anything about this clause that you are saying.. I'm sure it would be a good read.

 

[MrQuotes]

Google

Breast cancer avoid payout

Only aviva has a special clause which give its policyholders a major disadvantage.

I think your info is outdated. That article was 6-7 years ago. Please read through Aviva's policy contract before making such statement now.

 

[kebinu]

I think your info is outdated. That article was 6-7 years ago. Please read through Aviva's policy contract before making such statement now.

How about them adjusting payout before mas stepped in?

 

[MrQuotes]

How about them adjusting payout before mas stepped in?

Your answer:

In this article, it was reported that Aviva was ‘reprimanded by MOH’ and implied that dialysis coverage for all our customers had been reduced. This is not the case.

We made a downward revision to the claimable percentage of the bill, only for customers who bought plans meant for government/restructured hospitals, yet choose to seek treatment at private hospitals.

For customers who bought those plans and seek treatment at government/restructured hospitals, per the plans’ designs, there is no reduction in coverage; they can claim as charged.

We made this revision in order to be fair to all of our customers. Based on our claims experience, the revised claimable percentage is a more accurate reflection of the difference in cost between subsidised and private facilities. Adjusting this claimable percentage is an important part of ensuring the financial sustainability of Integrated Shield plans for everyone, since Integrated Shield plans work by pooling risks.

However, having understood from MOH that there is currently constrained capacity at subsidised dialysis centres, we realise that some of our customers may not be able to seek treatment at subsidised centres even if they wanted to. It is for this reason that we decided to, on a case-by-case basis, reinstate the old claimable percentage for three of our affected policyholders without any additional costs to them.

Media reporting of the insurance sector plays a valuable role in consumer education. But it is vital to be balanced and accurate, given the importance of insurance cover to millions of policyholders in Singapore.

Thank you.

Yours sincerely,
Yvonne Yeo
Manager - Brand, Sponsorship & PR
Aviva Ltd

bro, a good agent should never resort to bringing down others. You don't say someone is bad to make yourself seems "better". I don't represent Aviva but every companies have a fair share of such matters. It's easy for someone to pull out articles on GE and/or other companies likewise.

 

[NiteX2]

Your answer:


bro, a good agent should never resort to bringing down others. You don't say someone is bad to make yourself seems "better". I don't represent Aviva but every companies have a fair share of such matters. It's easy for someone to pull out articles on GE and/or other companies likewise.

Well said! Putting down other companies in favour of one's own company never reflects well on the person. Most of the agents from many companies will be out of job by now if everyone avoid insuring themselves based on one case scenario.