Hitting 30 this year? Here’s what you need to know about CareShield Life, Singapore’s latest Long-Term Care insurance scheme for Singaporeans aged 30 and above. From 1 October 2020, all Singaporeans aged 30 and above will be automatically enrolled into CareShield Life. Prior to CareShield Life was ElderShield, which was only applicable to Singaporeans aged […]
If you have been searching for ways to plan for your retirement, you would probably have come across many insurers promoting their retirement income or annuity plans. With such plans, you either fork up a lump-sum or pay regular premiums over a period of time, in return for monthly payouts over a fixed number of years […]
Some people think that it is not necessary to buy life insurance. Why should I pay to be protected from something that is not likely to happen and with money I can’t get back? They may think it is better to accept the risk and retain full control over their money instead of depending on […]
Unless you’re a medical practitioner or a healthcare worker, you’re unlikely to have studied the definitions of critical illnesses in your insurance policy. These definitions play an important role in determining whether you are eligible to claim from your policy in the event you are diagnosed with an illness so it is worth some of […]
If you have not heard, all insurers would have to adopt the new 2019 Critical Illness (CI) definitions set out by the Life Insurance Association Singapore (LIA) from 26 August 2020. The new 2019 definitions are meant to reduce ambiguity over what can or cannot be claimed. To learn more, click here for the summary […]
If you were asked to key in your life insurance premiums into a budget worksheet, how would you classify it – as an expense, saving or investment? If your insurance plan has a cash value, you might treat it as savings. If your insurance plan buys units in a unit trust, you might treat it […]
