What insurance should i get?

[ILoveTomato]

I had been looking ard here and still have no idea what kind of insurance should i get

I m 23 yo, working, taking home 20k annually.

Can someone enlighten me.

 

[Darkzi0n]

HospitaliZation and surgical is a must.

Term insurance covering death next.

Others depends on ur need... But keep in mind ur budget

 

[Aerial86]

I had been looking ard here and still have no idea what kind of insurance should i get

I m 23 yo, working, taking home 20k annually.

Can someone enlighten me.

A general guideline that might be useful for you.

Use only about 10-15% of your take home for insurance plans. Type of coverage for a comprehensive coverage are

1) Hospital & Surgical
2) Death/TPD/Critical illness(Term or Life)
3) Disability income
4) Accident Plan

Try to manage and save up about 50% of your income every mth, till you have a reserve of 3-6mths of cash in bank for emergency use.

Looking into investments to grow your wealth will be the next step and you could get many investment tips from the threads around here. Hope it helps!

 

[ILoveTomato]

Guys,

Is the SAF group term life insurance worthwhile to continue w a premium of $25.60 monthly or are there a better plan?

 

[soulevard]

Guys,

Is the SAF group term life insurance worthwhile to continue w a premium of $25.60 monthly or are there a better plan?

If you factor in the yearly cash rebates it is one of the best term plan to keep. I also kept mine even after I ORDed many years ago

 

[iamryan]

Guys,

Is the SAF group term life insurance worthwhile to continue w a premium of $25.60 monthly or are there a better plan?

Yes it is. If possible increase the coverage. Information at:http://confusednow.com/company-plans.php?id=4

 

[Lewis.T]

Depends on the length of coverage you require, some term plans are cheaper than SAF term.

However, your first priority should be looking into an integrated shield plan. It is an inexpensive plan that can cover yourself and your family members against hospitalization and surgical costs.

Next, you can shop around for alternative term plans or keep/increase your SAF aviva's coverage (it's pretty good value). Keep in mind you'll need to work out your coverage amount, duration, riders and budget if you want to look for another term plan that could possibly be of more value.

 

[ILoveTomato]

Thanks for sharing and i received a few pm.

Will read up soon and get back to your guys