Principle #2 – Insurance is for Protection

Principle #2 – Insurance is for Protection

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 […]

Insurance Principle #1: Insurance is an Expense

Insurance Principle #1: Insurance is an Expense

For most of us, buying insurance isn’t exactly a conversation starter and for some, it could conjure up negative feelings, depending on how you think about insurance. Nevertheless, it is an important topic as it sets the foundation of our financial plans and approaching insurance wrongly could set us up for future financial difficulties. Hence, […]

Changes in CI Definitions & MINDEF-MHA Group vs Individual Insurance: What you need to know

Changes in CI Definitions & MINDEF-MHA Group vs Individual Insurance: What you need to know

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 more specific and have added exclusions. For Major Cancers, it requires more evidence and it excludes more minor cancers. […]

Singapore’s Term Life Insurance Comparison Table (July 2020)

Singapore’s Term Life Insurance Comparison Table (July 2020)

It is difficult to compare insurance policies between different companies. To provide greater transparency, we compiled this comparison table so that consumers can compare term life insurance policies across insurers in Singapore and make informed decisions when insuring themselves and their loved ones. There are large price differences between the insurers. This comparison table is […]