Term Insurance

[wickedpork]

i strongly, strongly, strongly advise anyone to sign up any policies with Aviva NOW. whether you want to listen or not, it's your problem.

I am not an agent fyi.

 

[steven168z]

do note that SAF Aviva Group does not have Critical cover. Just checked this with a client recently who passed me his list of policies with IFA. Wonder if the agent made a mistake on that. I told him to double confirm with his agent. As if you can google it, under "Aviva SAF Group Term Life".

are you from Prudental?

PruSuEn
Junior Member
Join Date: Jan 2014
Posts: 4

 

[RockyHero]

i strongly, strongly, strongly advise anyone to sign up any policies with Aviva NOW. whether you want to listen or not, it's your problem.

I am not an agent fyi.

Hi wickedpork, kindly back up your statement. I'm not sure what is your background but i think it's wrong to downplay a company without any strong backing.

 

[Southern Blend]

37M, non smoker.
400k TPD, 300k death, 150k early CI
coverage till 65 yrs old.
strictly no pm, post the annual premium here

 

[raonrayen]

bookmark for reference

 

[raonrayen]

advisors, what's the definition of critical illness, is it when diagnosed that one is left with 12months to live?then one will get the payout? OR once diagnosed with the illness, gets coverage payout?

 

[Keverus]

are you from Prudental?

PruSuEn
Junior Member
Join Date: Jan 2014
Posts: 4

quite obvious

 

[Keverus]

i strongly, strongly, strongly advise anyone to sign up any policies with Aviva NOW. whether you want to listen or not, it's your problem.

I am not an agent fyi.

strong words. anything to back it up?

 

[Keverus]

looking to buy term insurance. looking to explore various options. kindly pm me with relevant details, including ur agency. thanks.

 

[Panerex]

Hi wickedpork, kindly back up your statement. I'm not sure what is your background but i think it's wrong to downplay a company without any strong backing.

He seems to advise pple to sign up, and not NOT to sign up

 

[torrent06]

He seems to advise pple to sign up, and not NOT to sign up

Can't blame people for being confused when he did not elaborate and his wording was so ambiguous.

 

[Leaper_SG]

Hi folks, let me join the bandwagon and thank you all for posting useful info on the main thread.

Kindly correct me if i'm wrong.
SAF Aviva Term insurance is cheaper compared to other insurance companies such as prudential because it is covered till 65years old only but term insurance like prudential(PruVantage) covers till 100Years old. So the premium is higher?

Currently still single but planning to get a term or a life insurance soon. Many of my friends keep telling me Early stage critical illness is the important part i need to focus.

My Info :
Age : 29
Gender : Male
Smoker/Non Smoker : Non-Smoker
Dependants : 0

Current Insurance​

Hospitalization :
PruShield Extra A Premier
($191 Deduct from Medisafe / $29.67 cash payment per Month)

Term Insurance :
NIL

Life Insurance :
NIL

Total and Permanent Disablement
NIL

Critical Illness
NIL

Early Stage Critical Illness
NIL

 

[Alfdorel]

SAF Aviva Term Insurance is cheaper cause it's considered as a group insurance i think, cause all men who went through NS are considered under SAF! Even until you MR.

It really depends on the premiums. Factors such as duration, sum assured, and the coverage.

I would say, explore which term plan suits your concerns the most and then work within your budget.

Hi folks, let me join the bandwagon and thank you all for posting useful info on the main thread.

Kindly correct me if i'm wrong.
SAF Aviva Term insurance is cheaper compared to other insurance companies such as prudential because it is covered till 65years old only but term insurance like prudential(PruVantage) covers till 100Years old. So the premium is higher?

Currently still single but planning to get a term or a life insurance soon. Many of my friends keep telling me Early stage critical illness is the important part i need to focus.

My Info :
Age : 29
Gender : Male
Smoker/Non Smoker : Non-Smoker
Dependants : 0

Current Insurance​

Hospitalization :
PruShield Extra A Premier
($191 Deduct from Medisafe / $29.67 cash payment per Month)

Term Insurance :
NIL

Life Insurance :
NIL

Total and Permanent Disablement
NIL

Critical Illness
NIL

Early Stage Critical Illness
NIL

 

[bigmice]

1. for life policy, suggest consider multiplier product
before age 65(retire ) can get 3 times sum assure protection
after 65 ,normal drop to coverage, because life policy sum assure will increase as age grow.
2. for term policy can buy some early payout
100k to 200k is enough.

 

[RockyHero]

Hi folks, let me join the bandwagon and thank you all for posting useful info on the main thread.

Kindly correct me if i'm wrong.
SAF Aviva Term insurance is cheaper compared to other insurance companies such as prudential because it is covered till 65years old only but term insurance like prudential(PruVantage) covers till 100Years old. So the premium is higher?

Currently still single but planning to get a term or a life insurance soon. Many of my friends keep telling me Early stage critical illness is the important part i need to focus.

My Info :
Age : 29
Gender : Male
Smoker/Non Smoker : Non-Smoker
Dependants : 0

Current Insurance​

Hospitalization :
PruShield Extra A Premier
($191 Deduct from Medisafe / $29.67 cash payment per Month)

Term Insurance :
NIL

Life Insurance :
NIL

Total and Permanent Disablement
NIL

Critical Illness
NIL

Early Stage Critical Illness
NIL

Hi SAF term life insurance is cheaper but there is a restriction to its beneficiary nomination policy, The Nomination of Beneficiaries framework is not applicable for group insurance scheme. The main policyholder, that is, SAF/MINDEF, had directed Aviva to pay according to the prevailing laws of Singapore. That is to say, in the event of a Death Claim, the law provides for Aviva to pay to the immediate next-of-kin (NOK) or proper claimant up to S$150,000. The payout of the balance of the insurance compensation has to be decided by a Court.

You should also consider disability income insurance and personal accident.

 

[NiteX2]

Hi folks, let me join the bandwagon and thank you all for posting useful info on the main thread.

Kindly correct me if i'm wrong.
SAF Aviva Term insurance is cheaper compared to other insurance companies such as prudential because it is covered till 65years old only but term insurance like prudential(PruVantage) covers till 100Years old. So the premium is higher?

Currently still single but planning to get a term or a life insurance soon. Many of my friends keep telling me Early stage critical illness is the important part i need to focus.

My Info :
Age : 29
Gender : Male
Smoker/Non Smoker : Non-Smoker
Dependants : 0

Current Insurance​

Hospitalization :
PruShield Extra A Premier
($191 Deduct from Medisafe / $29.67 cash payment per Month)

Term Insurance :
NIL

Life Insurance :
NIL

Total and Permanent Disablement
NIL

Critical Illness
NIL

Early Stage Critical Illness
NIL

SAF term plan is cheap if you are looking for additional death/TPD coverage. For CI coverage, the premium will jump quite substantially after age 45 so you will have to factor the premium in as well. Term till 100 will definitely be more expensive compared to term till 65.

Early CI is good to have, but it depends on one's needs and concerns.

 

[Leaper_SG]

Hi SAF term life insurance is cheaper but there is a restriction to its beneficiary nomination policy, The Nomination of Beneficiaries framework is not applicable for group insurance scheme. The main policyholder, that is, SAF/MINDEF, had directed Aviva to pay according to the prevailing laws of Singapore. That is to say, in the event of a Death Claim, the law provides for Aviva to pay to the immediate next-of-kin (NOK) or proper claimant up to S$150,000. The payout of the balance of the insurance compensation has to be decided by a Court.

You should also consider disability income insurance and personal accident.

Really? If i get insured 1M term with SAF Aviva(128/mth) and my next of kin only gets upto $150K if i die before 65 years old? Please advice where did you get this info from?

I have decided to go with Term insurance upto 65 with CI/Early stage CI.

 

[lukaloo]

Really? If i get insured 1M term with SAF Aviva(128/mth) and my next of kin only gets upto $150K if i die before 65 years old? Please advice where did you get this info from?

I have decided to go with Term insurance upto 65 with CI/Early stage CI.

Yes.This is the 1st time i heard about this info too. Even for group insurance, a sum assured mean a guaranteed amount. From what i heard its only a matter of how fast they pay out, not that they have right to pay less.

 

[MrQuotes]

It is not about paying less.

Please read the FAQ.

The Nomination of Beneficiaries framework is not applicable for group insurance scheme. The main policyholder, that is, SAF/MINDEF, had directed Aviva to pay according to the prevailing laws of Singapore. That is to say, in the event of a Death Claim, the law provides for Aviva to pay to the immediate next-of-kin (NOK) or proper claimant up to S$150,000. The payout of the balance of the insurance compensation has to be decided by a Court.

If the deceased had written a Will before his/her death, the family has to engage a lawyer to apply to the Court for a Probate, which may take up to 6 months.

If the deceased did not have a Will before his/her death, he/she would be considered to have died intestate. In such an event the family also has to engage a lawyer to apply to the Court for a Letter of Administration, which may take up to 3 years to resolve.

 

[RockyHero]

Really? If i get insured 1M term with SAF Aviva(128/mth) and my next of kin only gets upto $150K if i die before 65 years old? Please advice where did you get this info from?

I have decided to go with Term insurance upto 65 with CI/Early stage CI.

From the website itself. Yes the balance after the initial payout of $150k will be decided by the court. Your first $150k will be automatically paid out to your proper claimant etc your wife or children. Go with Term with TPD rider. Don't bother with CI if you are already getting an Early CI.

Good Luck.