insuranceplan

  An insurance savings plan offers a great way for you to meet your savings goals. It gives you the potential to earn higher returns than what you would normally get if you simply choose to keep money in a bank account. Plus, you get added protection that comes with the death benefit payout to your plan’s nominee. Now, there are many insurers in Singapore offering insurance savings plans. So, how do you pick the one that is right for you? To help you make that decision, we have listed down a few tips that will help you choose the best savings plan in Singapore.   1.     Examine your own financial goals To begin, you need to evaluate your own needs and expectations from your savings. For instance, if you are saving for a particular life goal – such as your child’s university fees – you need to keep the target sum in mind before choosing a plan. Next, you also need to check how much you can afford to contribute as premiums. Knowing your target and affordabili...

Cancer insurance keeps you covered against all stages of cancer with 100% payout upon diagnosis of the disease. Leading insurance providers in the country offer affordable cancer insurance plans that can cover you up to the age of 100 years. Given the high incidence of cancer in Singapore and our longer lifespans, it is advisable to consider getting this form of coverage. If you are new to cancer insurance plans, this article is just for you. Read on to discover 5 handy tips that can help you select a really good cancer insurance plan. 1.     Compare as many options as possible When buying any form of insurance, it is not advisable to pick the first option that comes your way. The same holds true for cancer insurance plans as well. Try to compare at least 3 to 4 plans from leading insurance providers in Singapore. Evaluate these plans on the basis of the coverage provided, sum assured, premiums charged, and added benefits (if any). Choose a plan that strikes the p...

  Life insurance is probably one of the most important forms of insurance out there. The coverage gives you immense peace of mind by assuring you that your family will be financially secured if something unfortunate happens to you. Now, when buying life insurance, you will have to choose between term life insurance and whole life insurance . Term life insurance only covers you for the specific term pre-decided by you at the plan’s start date. Whole life insurance covers you for the entirety of your life. In this article, we will take a look at the meaning of whole life insurance and what this form of coverage provides. What is whole life insurance? Whole life insurance is a form of insurance that covers you against death, terminal illness, critical illness, and total permanent disability. The coverage lasts for the entirety of the insured person’s lifespan. The premiums, however, need to be only paid for a certain limited period post which you continue to enjoy protection. Mo...

  If you are buying life insurance for the first time, the influx of information might leave you confused. While you can get guidance from a financial consultant when selecting plans, it is also good to improve your own understanding of the product you are buying. To build on your understanding, read up on the plan you are buying by going through the plan’s brochure and fine print. Now, you may come across a lot of life insurance jargons that may leave you a bit perplexed. To help you out, we have listed down some common life insurance jargons and explained what they mean.   1.     Whole life insurance Whole life insurance covers the insured individual for their entire life against death, terminal illness, critical illness, and total permanent disability. 2.     Term life insurance Term life insurance covers the insured individual for a duration selected by them against death, terminal illness, and total permanent disability. You can ...

Falling ill can weigh heavily on the mind, body, and pocket. As we all know, medical expenses can be quite expensive . Now, as a Singaporean citizen or PR, your medicals are covered to a certain extent by MediShield Life. You may have also increased your health insurance coverage with an Integrated Shield Plan for better protection. However, for a critical illness, you would possibly need more coverage than what is offered by the average health insurance plan. This kind of wholesome protection only comes from critical illness insurance . Critical illness insurance is a form of coverage that pays you a lump sum amount if you are diagnosed with any of the critical illnesses covered by the insurer. You can use this lump sum for any purpose you want to. For instance, you may want to use the payout for the salary of a domestic worker to care for you while you recuperate. Your critical illness plan payout essentially helps you run your home while you receive medical treatment. As we can see,...

  When looking up insurance products like life insurance or health insurance , you might have also come across ‘riders’ (or supplementary benefits) for various plans. These are additional covers that help supplement the coverage you receive from a base insurance plan. Riders not only supplement your coverage but also customise it – you can uniquely opt for a rider that suits your needs for coverage. Thus, your final plan (with a rider) may be different in terms of overall coverage from someone else’s version of the same plan. Some examples of riders in major insurance products Almost all insurance products have options of riders for you to choose from. Let’s take a look at some examples. ·          Life insurance – Life insurance plans generally do not cover critical illnesses; you can add coverage for these as a rider. Life insurance plans also have riders that allow for premiums to get waived for a certain number of years if the poli...