Term Insurance

[chopra]

Hi Peter,

Below are the quotes from AXA & NTUC Income (AVIVA, Manulife and TM Life do not carry this product - However, with TM Life planning to launch some new Term Plans next week, I suspect they may have this product in their new Term Plans range).

AXA Life Early Payout
Male Age 34, $200,000 (till Age 65) - $ 2,248/-
Female Age 35, $200,000 (till Age 65) - $ 2,298/-


For NTUC's Early Payout Plan, I believe they are the only one in the market, that packages it into a Whole Life Plan. It is called VivoCare. As there are variations to the premium payment period, I have chosen the 20year premium payment period, ie. thereafter premiums cease.

NTUC VivoCare
Male Age 34, $200,000 (premiums payable for 20years) - $ 7,067.05
Female Age 35, $200,000 (premiums payable for 20years) - $ 6,536.30

Please PM me if you want to know the premium rates for VivoCare's other premium payment terms.

VIVOcare is not term.
Do not confuse the audience.

I have reported you to the mod.

 

[gerimegaly]

VIVOcare is not term.
Do not confuse the audience.

I have reported you to the mod.

Please read what I wrote carefully. I did not say that VivoCare is a Term Plan.

 

[chopra]

Please read what I wrote carefully. I did not say that VivoCare is a Term Plan.

People already specified they want term, in both thread title and first post.

You recommended alternatives -- all are LIFE products, from both AXA and NTUC.
Without provided any term products;
Without providing any comparison vis-a-vis any term products;
Without providing any reason for recommending these alternatives.

Is this e right approach?

 

[gerimegaly]

People already specified they want term, in both thread title and first post.

You recommended alternatives -- all are LIFE products, from both AXA and NTUC.
Without provided any term products;
Without providing any comparison vis-a-vis any term products;
Without providing any reason for recommending these alternatives.

Is this e right approach?

Eh...are you familiar with such plans? AXA Life's plan is a Term Plan.
And I already specifically mentioned that for NTUC's plan, they have packaged it as a Whole Life, and not a Term Plan. Is it wrong for me to highlight the availability of such a plan?

Discussion of reasons for recommendation or any other issues, in my view, should be done with the TS in private.

 

[sogoofy1203]

Has anyone bought term insurance from dbs before? I think the underwriter is Aviva. I was thinking of getting a 30 year policy and an additional rider of 7 critical illness covering the usual, stroke, heart attack, cancer, etc. Would appreciate hearing any feedback from people who've bought it before..

 

[limster]

Some insurance agents show statistics of the number of people dying through critical illness to scare you into spending a lot of money on critical illness insurance.

Consider the following points:

1. Everybody will eventually die from a illness in their old age (if they do not die earlier by accident).

2. Even after spending more than $100,000 on treatment, the chance of success is slim for an elderly person. Insurance is not intended to cover this type of costly futile treatment.

3. Insurance is to protect families when the dependents are young. After 25 years, the children have grown up and the breadwinner has accumulated sufficient savings.

4. If they do not spend $500 a month on a bad insurance product, they would have accumulated $500,000 at the end of 35 years by investing in the right product. They do not need insurance to pay their medical bills - they can use their savings.

5. Insurance agents are taught to tell lies and misleading statements to take away too much from consumers. The critical illness scare is just one more gimmick.

6. If you are afraid of critical illness when you are young, pay $120 a year to get $100,000 of critical illness cover. The chance of it happening is less than the chance of an accident. (The real cost is much less, but the insurance company wants to make a profit).

7. Here is how you can buy a good insurance package, covering death, accident an critical illness to cover a more adequate amount
http://tankinlian.com/admin/file.aspx?id=752&IID=759

From TKL's blog. Interesting point that when you are young, you are more likely to be injured in an accident compared to getting a criticial illness, so you should be getting more accident insurance instead of CI coverage.

 

[Saj.Mahal]

From TKL's blog. Interesting point that when you are young, you are more likely to be injured in an accident compared to getting a criticial illness, so you should be getting more accident insurance instead of CI coverage.

Does he refer to CI as both early and advanced CI?

Actually, for myself I'm not as worried about getting CI when i'm younger. Much more afraid of getting high blood pressure or some lame minor 'diagnosis' that will cause me to have exclusions or even loading in the future. I've seen loading cases of 50% a fair number of times already. And at that point, you also kinda find out that you don't have many choices left..

 

[PRUbombz]

Does he refer to CI as both early and advanced CI?

Actually, for myself I'm not as worried about getting CI when i'm younger. Much more afraid of getting high blood pressure or some lame minor 'diagnosis' that will cause me to have exclusions or even loading in the future. I've seen loading cases of 50% a fair number of times already. And at that point, you also kinda find out that you don't have many choices left..

This is one point that majority people don't realize when it comes to insurance. Only when the **** hits the fan, then like you say, no more choice left...

 

[chopra]

From Tan Kin Lian

http://tankinlian.com/Admin/File.aspx?ID=752&Frame=1

 

[galaxynote]

So which is the cheapest term insurance for 1m?btw if i buy from a few companies will the payout be cumulative? Thanks

 

[PRUbombz]

So which is the cheapest term insurance for 1m?btw if i buy from a few companies will the payout be cumulative? Thanks

You can check out Safra Essential Term or PruTermVantage. Term/Life insurance payouts are all cumulative.

 

[galaxynote]

You can check out Safra Essential Term or PruTermVantage. Term/Life insurance payouts are all cumulative.

Thanks prubomb. how abt travel insurance? can buy a few n do cumulative claims

 

[PRUbombz]

Thanks prubomb. how abt travel insurance? can buy a few n do cumulative claims

It doesn't make sense to buy more than 1 travel insurance.... If you worried about the coverage, go for a more premium or high plan. It should be more than enough. Can check out Liberty Insurance Tour Care Plus.

 

[Saj.Mahal]

Thanks prubomb. how abt travel insurance? can buy a few n do cumulative claims

I've been thinking about how important is travel insurance.

Apart from travel delays and theft overseas, what other benefits does it provide? What benefits does it have that do not overlap with our existing insurance coverage?

Is there a company that sells travel insurance purely for the above features?

Any thoughts?

 

[PRUbombz]

I've been thinking about how important is travel insurance.

Apart from travel delays and theft overseas, what other benefits does it provide? What benefits does it have that do not overlap with our existing insurance coverage?

Is there a company that sells travel insurance purely for the above features?

Any thoughts?

Our shield plan only covers hospitalization overseas if one condition is life threatening. Travel insurance cover any illnesses as mild as cough and flu, to broken arm from skiing. There is very minimal overlap btw existing insurance coverage, at the same time so much more that travel insurance offers.
For eg, emergency medical evacuation, travel cancellation/overbooking, loss of personal belongings, rental vehicle excess cover, terrorism/kidnapping, etc.

 

[Saj.Mahal]

Our shield plan only covers hospitalization overseas if one condition is life threatening. Travel insurance cover any illnesses as mild as cough and flu, to broken arm from skiing. There is very minimal overlap btw existing insurance coverage, at the same time so much more that travel insurance offers.
For eg, emergency medical evacuation, travel cancellation/overbooking, loss of personal belongings, rental vehicle excess cover, terrorism/kidnapping, etc.

Hmm can help share a bit on more these for our benefit? I'm not yet well versed in travel ins. Ty!

Is there any excess to claims for GP type visits (flu/cough) and hospital type visits (broken arm)?
Does Emergency evacuation only apply if local hospitals have no facilities to treat you?
Understand that Personal belongings value is depreciated sharply and subject to caps, do companies have a consistent application of these?

Is there a 'bare essentials' type of travel ins product?

 

[PRUbombz]

Hmm can help share a bit on more these for our benefit? I'm not yet well versed in travel ins. Ty!

Is there any excess to claims for GP type visits (flu/cough) and hospital type visits (broken arm)?
Does Emergency evacuation only apply if local hospitals have no facilities to treat you?
Understand that Personal belongings value is depreciated sharply and subject to caps, do companies have a consistent application of these?

Is there a 'bare essentials' type of travel ins product?

No excess to claims. Just based on the cap for the plan.

Emergency Medical Evacuation
In the event of a Serious Medical Condition,
We will arrange and pay for the medically
necessary expense of air and/or surface
transportation, medical care during
transportation, communications and all usual
ancillary charges incurred in moving You to the
nearest Hospital where appropriate medical
care is available (and which may not
necessarily be in Singapore).

Items beyond 12 months old will be subjected to depreciation. But beyond that, yes.

I think there are alot of travel insurance out there. Not sure what you mean by bare essentials. But I think end of the day, what I'm driving at is that there aren't any plans out there that can overlap the features in Travel insurance. Doesn't cost alot but surely it can give you a piece of mind if you travel to countries that aren't exactly safe, or flights with many transits that have histories of delays/cancellations that may ruin your confirmed/paid plans in the trip.

 

[matchy]

curious what ts took~~

 

[lousylah]

Term Quotes

Hijacking this thread for quotes.

Male NS ANB 29

$500k
Death, TPD, TI and Advanced CI

Need quotes for 40 years and 50 years.

 

[derazor]

Borrowing this thread.

What are the things that we need to take note when we want to buy term?

Also, how much to buy and till what year? Any webbie to assist us in calculating?