Term Insurance

[BlueSky10]

Thanks for the quick PM's.

I am planning to meet couple of agents over the week end to get more details on this.
Thanks

 

[twinklingstars]

preferably less than 5%

2% should go into covering your death and TPD

5% of my annual gross salary, before CPF deduction?

 

[MoonHehe]

5% of my annual gross salary, before CPF deduction?

After your CPF deduction.

 

[impulse41]

Hi,

Looking for 600k death, TPD term insurance for 30 years, level premium

35 years old female, non smoker
37 years old male, smoker

Please quote or send quotation to impulse41@gmail.com

 

[makav31i]

My insurance policy consist of Term, Personal Accident and Life is around 7%..Am I over insured?

 

[MoonHehe]

My insurance policy consist of Term, Personal Accident and Life is around 7%..Am I over insured?

Nope, as long as don't go over 10%. I think should be Ok, considering that you got almost everything covered. But you may want to get a hospitalization plan if do not have one.

 

[makav31i]

Nope, as long as don't go over 10%. I think should be Ok, considering that you got almost everything covered. But you may want to get a hospitalization plan if do not have one.

Hospitalization is the Medisave one right? If ues I already upgraded mine..

 

[MoonHehe]

Hospitalization is the Medisave one right? If ues I already upgraded mine..

Yup, it's the medishield plan. Then you should be Ok. As I said earlier, you got all important essential areas covered.

 

[Pathfinder]

Male NS ANB 38
$1M
Death, TPD, TI and Advanced CI

Need quotes for till 65 and 85.

 

[quirkyhill]

hi all, need some advice here... i am female, not married, mid 20s, been working for a few years after graduation. in mid december last year i bought a prulink protection plus policy, which is a whole life ilp.

basically, it comprises these:
for 5 aspects, ie:
- terminal illness
- total and permanent disability (expires mid dec 2051)
- crisis cover provider iii (expires mid dec 2051)
- early crisis cover provider (expires mid dec 2071)
- accident, death & dismemberment iii (expires mid dec 2061)
sum assured is 150k for each.

i also have fracture care PA plan 2 which allows me to claim partially for healthcare equipment in case of injuries, and prushield extra which i believe is for covering hospitalization fees.

my monthly premiums are close to $400, so yearly, they are about $4.8k. i paid the first 2 monthly, but last month, i decided to switch to annual payments via credit card... they are probably going to deduct the fees soon if they haven't done so already...

at first, i thought $4.8k a year (for 40 years, i think) was reasonable, given that it also had an investment aspect, but then! i stumbled onto the btitr theory... i asked my agent how much an equivalent term plan would cost, and he said it would be roughly the same... anyway, he said that since i am paying the premiums annually, the policy would have enough funds to run for 2014 and 2015 even if i didn't pay for 2015 first.

so i'm wondering... are my benefits reasonable? how much does an equivalent term plan cost? (i was building up my war chest all this time and just started reading on basic investments...) would it be more advisable for me to cancel it asap, or wait till the end of 2015?

any advice welcome.

 

[Lifeisgreat91]

hi all, need some advice here... i am female, not married, mid 20s, been working for a few years after graduation. in mid december last year i bought a prulink protection plus policy, which is a whole life ilp.

basically, it comprises these:
for 5 aspects, ie:
- terminal illness
- total and permanent disability (expires mid dec 2051)
- crisis cover provider iii (expires mid dec 2051)
- early crisis cover provider (expires mid dec 2071)
- accident, death & dismemberment iii (expires mid dec 2061)
sum assured is 150k for each.

i also have fracture care PA plan 2 which allows me to claim partially for healthcare equipment in case of injuries, and prushield extra which i believe is for covering hospitalization fees.

my monthly premiums are close to $400, so yearly, they are about $4.8k. i paid the first 2 monthly, but last month, i decided to switch to annual payments via credit card... they are probably going to deduct the fees soon if they haven't done so already...

at first, i thought $4.8k a year (for 40 years, i think) was reasonable, given that it also had an investment aspect, but then! i stumbled onto the btitr theory... i asked my agent how much an equivalent term plan would cost, and he said it would be roughly the same... anyway, he said that since i am paying the premiums annually, the policy would have enough funds to run for 2014 and 2015 even if i didn't pay for 2015 first.

so i'm wondering... are my benefits reasonable? how much does an equivalent term plan cost? (i was building up my war chest all this time and just started reading on basic investments...) would it be more advisable for me to cancel it asap, or wait till the end of 2015?

any advice welcome.

term plan with your quotes are roughly around 40 to 60 dollars a month but remember that there are no cash value for them even if you don't claim

 

[quirkyhill]

term plan with your quotes are roughly around 40 to 60 dollars a month but remember that there are no cash value for them even if you don't claim

so benefits-wise, it's ok given my age etc?

 

[Lifeisgreat91]

so benefits-wise, it's ok given my age etc?

can clear you inbox i explain more

 

[blurblur123]

hi all, need some advice here... i am female, not married, mid 20s, been working for a few years after graduation. in mid december last year i bought a prulink protection plus policy, which is a whole life ilp.

basically, it comprises these:
for 5 aspects, ie:
- terminal illness
- total and permanent disability (expires mid dec 2051)
- crisis cover provider iii (expires mid dec 2051)
- early crisis cover provider (expires mid dec 2071)
- accident, death & dismemberment iii (expires mid dec 2061)
sum assured is 150k for each.

i also have fracture care PA plan 2 which allows me to claim partially for healthcare equipment in case of injuries, and prushield extra which i believe is for covering hospitalization fees.

my monthly premiums are close to $400, so yearly, they are about $4.8k. i paid the first 2 monthly, but last month, i decided to switch to annual payments via credit card... they are probably going to deduct the fees soon if they haven't done so already...

at first, i thought $4.8k a year (for 40 years, i think) was reasonable, given that it also had an investment aspect, but then! i stumbled onto the btitr theory... i asked my agent how much an equivalent term plan would cost, and he said it would be roughly the same... anyway, he said that since i am paying the premiums annually, the policy would have enough funds to run for 2014 and 2015 even if i didn't pay for 2015 first.

so i'm wondering... are my benefits reasonable? how much does an equivalent term plan cost? (i was building up my war chest all this time and just started reading on basic investments...) would it be more advisable for me to cancel it asap, or wait till the end of 2015?

any advice welcome.

jie jie, I tell u ar. yr insurance agent bluff u one... term where got equipvalent as ILP... please read this thread

http://forums.hardwarezone.com.sg/money-mind-210/best-term-insurance-plan-4584000.html

and this

http://forums.hardwarezone.com.sg/e...nts-dun-recommend-term-insurance-4577182.html

all I can say please avoid ILP and since u have one, it might be best for u to cancel and cut yr loss early. premium for ILP will increase as u age...

 

[Jchuaym]

For me, I'll say keep the plan. Mortality cost for ILP is very low at a young age, and you will build up your returns faster. Just remember, how well your returns perform depends very much on your choice of funds. So choose the right funds and be diversified, ie don't go into just one fund.

Coverage wise, if you have parents as your dependents. $150,000 may be a tat little. You may consider topping up with term insurance. Alternatively, if your ILP allows, you can increase the sum assured without paying a cent more. If you do not have any dependents, then this policy is certainly a good start. That's my take.

so benefits-wise, it's ok given my age etc?

 

[quirkyhill]

can clear you inbox i explain more

cleared!!!

 

[bigass]

i feel that
$150000 for tpd is abit little

 

[NiteX2]

hi all, need some advice here... i am female, not married, mid 20s, been working for a few years after graduation. in mid december last year i bought a prulink protection plus policy, which is a whole life ilp.

basically, it comprises these:
for 5 aspects, ie:
- terminal illness
- total and permanent disability (expires mid dec 2051)
- crisis cover provider iii (expires mid dec 2051)
- early crisis cover provider (expires mid dec 2071)
- accident, death & dismemberment iii (expires mid dec 2061)
sum assured is 150k for each.

i also have fracture care PA plan 2 which allows me to claim partially for healthcare equipment in case of injuries, and prushield extra which i believe is for covering hospitalization fees.

my monthly premiums are close to $400, so yearly, they are about $4.8k. i paid the first 2 monthly, but last month, i decided to switch to annual payments via credit card... they are probably going to deduct the fees soon if they haven't done so already...

at first, i thought $4.8k a year (for 40 years, i think) was reasonable, given that it also had an investment aspect, but then! i stumbled onto the btitr theory... i asked my agent how much an equivalent term plan would cost, and he said it would be roughly the same... anyway, he said that since i am paying the premiums annually, the policy would have enough funds to run for 2014 and 2015 even if i didn't pay for 2015 first.

so i'm wondering... are my benefits reasonable? how much does an equivalent term plan cost? (i was building up my war chest all this time and just started reading on basic investments...) would it be more advisable for me to cancel it asap, or wait till the end of 2015?

any advice welcome.

I would suggest that you do away with the plan and get either a term or wholelife plan instead depending on your preference. There is little or no amount going into investment in the first 3-4 years. Sounds like your advisor has no ethics if he can tell you that term plan costs abt the same as ilp for the same coverage. He did not even maximize your cover for $400.

 

[Kokoblack]

Sorry to hijack.

Need a quote. 32M NS $500K coverage.

 

[quirkyhill]

thanks all for your advice on this thread and via pms... still reading through all...

For me, I'll say keep the plan. Mortality cost for ILP is very low at a young age, and you will build up your returns faster. Just remember, how well your returns perform depends very much on your choice of funds. So choose the right funds and be diversified, ie don't go into just one fund.

Coverage wise, if you have parents as your dependents. $150,000 may be a tat little. You may consider topping up with term insurance. Alternatively, if your ILP allows, you can increase the sum assured without paying a cent more. If you do not have any dependents, then this policy is certainly a good start. That's my take.

parents would be partial dependents as they have own savings and i also have two siblings who are likely to be able to support them in future, if necessary. therefore, the main dependent whom i should look out for is none other than myself.