Mr. Tan,
I plan to increase my cover for critical illness. To the best of your knowledge, what're the currently available plan in the market with $50 per mth? My agent told me CI plan do not come as a "main policy", instead, i must buy a "main plan" (usu a Whole life policy) & attach a CI rider-true?
REPLY
I suggest that you insure under the SAFRA scheme, if you are a SAFRA member. Please ask SAFRA.
Monday, July 14, 2008
Choose a low cost term insurance plan
Dear Mr. Tan,
I wanted to buy a term insurance for my husband who is 42 years old. He is currently covered with $80,000. My agent recommend me the below 2 plans.
1. Term Plan (Up to Age 85)
This term plan covers sum assured $50,000 for an annual premium of $786. There is no cash value for term plan.
2. Whole Life Plan (Ltd-Pay 20 Yrs)
Based on sum assured of $50,000 payable for 20 Yrs, the annual premium is $1,938.
Which is better?
REPLY
I do not like the two policies recommended for your husband as the premium is rather high. I suggest that you ask for a term insurance plan that expire at ag 60 or 65.
Read this FAQ:
http://www.tankinlian.com/faq/term.html
I wanted to buy a term insurance for my husband who is 42 years old. He is currently covered with $80,000. My agent recommend me the below 2 plans.
1. Term Plan (Up to Age 85)
This term plan covers sum assured $50,000 for an annual premium of $786. There is no cash value for term plan.
2. Whole Life Plan (Ltd-Pay 20 Yrs)
Based on sum assured of $50,000 payable for 20 Yrs, the annual premium is $1,938.
Which is better?
REPLY
I do not like the two policies recommended for your husband as the premium is rather high. I suggest that you ask for a term insurance plan that expire at ag 60 or 65.
Read this FAQ:
http://www.tankinlian.com/faq/term.html
A fair rate of return
If someone takes your money and promises to return them to you, and breaks the promise, you will consider that this person has cheated you.
If you invest in a life insurance company and expects to get a certain rate of return, depending on the future investment yield of the Life Fund, and you get less than the fair rate of return, would you feel that you have been cheated? It seems that many life insurance policies give a lot of leeway to the insurance company to decide on how much you can get and how much they can keep!
If you invest in a life insurance company and expects to get a certain rate of return, depending on the future investment yield of the Life Fund, and you get less than the fair rate of return, would you feel that you have been cheated? It seems that many life insurance policies give a lot of leeway to the insurance company to decide on how much you can get and how much they can keep!
Joke: Inflation and wages
Twenty years ago, I used to dream about the time when I would be living in fantastic luxury on the same wages that are now keeping me below the poverty line.
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