tag:blogger.com,1999:blog-1603222303785259307.post6640270519434113590..comments2023-09-23T21:52:50.905+08:00Comments on Health and Wealth: Comparing Group Term InsurancesKhiat Han Hwee Adrianhttp://www.blogger.com/profile/00954307521105388372noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1603222303785259307.post-47893630547103053352009-07-10T11:36:17.886+08:002009-07-10T11:36:17.886+08:00I think one needs a combination of both whole and ...I think one needs a combination of both whole and term plans. A basic whole life to cover you above 65/70 yrs old and a few term to cover the time between now and 65/70. <br /><br />But take note of the renewability of group insurance. I think some of them do not guarantee that you are able to renew your policy year after year.la papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-1603222303785259307.post-8470792559132062332009-07-09T13:47:59.331+08:002009-07-09T13:47:59.331+08:00adding to the list of gp term, there's also Ho...adding to the list of gp term, there's also HomeTeamNS Gp Term (for SPF/SCDF NSmen) underwritten by NTUC. here's the link http://www.income.com.sg/insurance/hometeamNS/index.asp<br /><br />agree tt if one meets a 'product adviser' (majority sadly speaking), then whole life & endowment savings &/or ILPs will be all they like to talk abt. i still do acknowledge the role of whole life plans but it has to fit the need (say e.g. inflation-hedged critical illness cover for life; disciplined savings plan for the ultra-conservative; lifelong income for some etc). term & gp term are suitable instruments to ensure risk transfer on pre-mature death/illness for specific risk management periods (e.g. young parents with kids). plus it's really value for $ at high leverage (sum assured per premium dollar). tt's what a 'financial adviser' should inform.<br /><br />how can Singaporeans be under-insured (if they utilise term/gp term to their advtg)? my 2 cts.<br /><br />to ahkiat: great job on this post!eeminhttp://www.eemintheifa.comnoreply@blogger.comtag:blogger.com,1999:blog-1603222303785259307.post-6885628345569810442009-07-06T22:54:26.924+08:002009-07-06T22:54:26.924+08:00Take one step at a time. The important first step ...Take one step at a time. The important first step is to see that you are adequately covered. Insurance is about NOW and NOT what you try to speculate will happen 50 years down the road.<br />To cover for wholelife is an insurance agents' idea of insurance because the only expensive and high commission product is a whole life product.Guess what?<br />LUV , POLGIS and SAFRA are NEVER mentioned by insurance agents when they sell to their clients. I say 'sell' because they NEVER plan so all these group insurance are never mentioned. If they are brought up the agent will run them down.The agents will always argue that they don't cover for WHOLELIFE and that is why group insurance is not good.Actually not for the agents' pocket.<br /><br />The WatchmanAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1603222303785259307.post-66151097010178586592009-07-06T16:44:12.286+08:002009-07-06T16:44:12.286+08:00NTUC LUV plan allows NTUC members and their spouse...NTUC LUV plan allows NTUC members and their spouse and children to be included into the plan. However if spouse or children has to be a Singaporean. So if you happen to have a non-Singaporean spouse, he/she may not be eligible.<br /><br />SAF Group Term also allow the spouse and children of the NSman to join the plan. I don't think nationality is an issue (correct me if I am wrong). However for children, the coverage will cease when the child reaches 18 (for male) and 25 (for female). This maybe an issue for parents who want to include their children into this plan.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1603222303785259307.post-73227298443715239752009-07-06T16:32:52.608+08:002009-07-06T16:32:52.608+08:00For SAF Group Term Insurance, It only covers up to...For SAF Group Term Insurance, It only covers up to 70 years old. From 65 yrs old till 70 yrs old, the insurance premium will increase exponentially on yearly basis. It coincide at the time whereby one is probably retired and may not be able to afford the coverage.<br /><br />I am not sure about the rest of the Group Term Insurances but they may also operate under the same way.Anonymousnoreply@blogger.com