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Insurance Articles
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...
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...
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...
Help! How do I make sense of the new Critical Illness (CI) definitions?
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...
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...
Singapore’s Term Life Plus Critical Illness Comparison Table (July 2020)
In this comparison table, we compare all Term Life with Critical illness insurance plans in Singapore. While a hospitalisation plan helps to cover the costs of a hospital stay, a critical illness plan provides for post-hospitalisation treatment costs and alternative...
What Will Happen To My Insurance Policies If My Insurer Goes Bankrupt?
Regulated by the Monetary Authority of Singapore (MAS), all life insurers operating in Singapore have stringent capital requirements to comply and adhere to. It requires them to have financial resources at least equal or more than the total of their underwriting and...
How Can I COVID-Proof My Financial Plans?
With the circuit breaker measures extended till 1 June, checking for daily updates on a number of COVID-19 cases has become a norm for many of us working from home. If you are waiting for the daily updates and are scanning your device for something, here’s something...
Are you ready for the year-end shopping spree? A Financial Checklist!
As the year comes to a close, we are bombarded by 11.11, 12.12, Black Friday and Cyber Monday deals. We see them all over the Internet, via mobile notifications or even decals splashed across the MRT stations, there is no running away that the advertisers are out for...
