Term Insurance Plans

[peacefulday]

what is that?

Eg at age of 31-45, coverage $100k on death and permanent disabled,

1) Safra essential term, monthly $11
2) Safra living care, monthly $21 (cover inclusive 30 illnesses)
You need to sign up as a Safra member in order to eligible.
I choose Safra living care and add on income shield premium A plan for my families members which I think it's within my affordable range.
I do self invest in blue chips and I wouldn't pay a so called financial expert to manage my fund

 

[chopra]

Do you know how much a term covering to age 99 cost?

ur pt? unbundle other means of insuring whole life and compare.

 

[FP_IFA]

ur pt? unbundle other means of insuring whole life and compare.

I am saying buying term to cover till age 99 is expensive especially if you going to add CI protection. Usually people buy term to cover on their most vulnerable years. Just look at the Aviva SAF Living Care plan on the difference in premium from 45 to 65 for just $100k.

Use term plans to cover the years where your dependents need you the most.

Edit: invulnerable should be vulnerable. Sorry for the typo.

 

[Michyeosseo]

I was quoted $100+ for a term to 100.... and $200+ for a whole life.

same coverage.

i can use the difference and invest in STI ETF.

 

[sAVaGEmP5]

sorry but... being insured 200k death at age 99, what were u hoping for ??

I was just quoted by an agent on a product (cant disclose here) for around $250 (cant remember exact) $1m coverage for all 3 Death, TPD, CI. Worth it ? About to get it but i thought its abit on the high side.. When i ask for 500k coverage no discount.
In a dilemma...

 

[Michyeosseo]

How old are you??

 

[sAVaGEmP5]

count as 30 yo

 

[chopra]

I am saying buying term to cover till age 99 is expensive especially if you going to add CI protection. Usually people buy term to cover on their most invulnerable years. Just look at the Aviva SAF Living Care plan on the difference in premium from 45 to 65 for just $100k.

Use term plans to cover the years where your dependents need you the most.

agree. no free lunch. no offence, but you are just stating the obvious.

its like telling ppl its expensive to buy a freehold compared to 99year condo, with all the rest being the same.

whoever want that long coverage have to bear the cost.

 

[Navigator]

I do not understand why you just to be insured for 300k. These days most people go for 1m coverage for death and disability.

Is 1m too much? Nope. Assuming you make 50k a year and you are in your 20s. If you pass on or disabled tomorrow, what's your potential loss till 65?

 

[charel_ong]

I do not understand why you just to be insured for 300k. These days most people go for 1m coverage for death and disability.

Is 1m too much? Nope. Assuming you make 50k a year and you are in your 20s. If you pass on or disabled tomorrow, what's your potential loss till 65?

Im sorry but im asking for 300k base on my budget. Fyi i do not earn 50k per year, which works out to be $4k per month. Im happy for u if u earn that amount for my age but too bad, im just a normal worker with $2k plus salary.

 

[Aerial86]

I do not understand why you just to be insured for 300k. These days most people go for 1m coverage for death and disability.

Is 1m too much? Nope. Assuming you make 50k a year and you are in your 20s. If you pass on or disabled tomorrow, what's your potential loss till 65?

I don't fully agree with the way u're defining a coverage someone needs.. It's very much depending on what they are looking to replace with the coverage.. If today, someone who does not support in any of the housing expenses and parents allowance etc, do they really need to get up to 1m coverage? Unless that person really wants the family to have a much better life in case he/she passes on..

So there are many different scenarios where coverage differs due to different reason.. Before understanding anyone's reason of wanting to get a certain coverage amount, there should not be any assumption made I guess? No offence, just sharing my view on this