Buying a Term life insurance in Singapore


Buying a term life insurance can be a daunting process, with the myriad of choices available. Contrary to paying for the traditional life insurance policy, term life offers a lower premium payable for the term of the insurance and greater flexibility.

The premium duration differs from yearly renewal to fixed years depending on how the insurance company allocates. Generally, the yearly renewal policy will cost the least, as the insurer’s health condition may deteriorate over time and the premium will most likely rise.

Contrary to paying for the traditional life insurance policy, term life offers a lower premium payable for the term of the insurance and greater flexibility.

Comments

Post a Comment

Popular posts from this blog

SG Alliance: Making Your Insurance Nomination

Image
One SGA App SG Alliance is pleased to introduce One SGA App, a new by invitation only membership platform, offering fantastic medical, financial services and Wellness benefits for you, your family and friends. Sign up here: https://jointo.access-my.app//home?tenantCode=SGA&referralCode=A002683 Please do not worry. This is not an online Scam. Download the authentic app & sign up using your email & password. No other personal details, bank account & credit cards are required. For further information, please feel free to give me a call at SG Alliance. Thank you. Assure Your Loved Ones with a Well-made Insurance Nomination Assure your Love Ones with a well-made insurance nomination We buy insurance for the peace of mind that our lives will not be financially upended by any unforeseeable event. Insurance further assures us that our dependants are well looked after, should anything disrupt our ability to continue providing for them financially. A part of everybody’s financial...
Read more

It’s never too late to start retirement planning

Image
The best time to start is now (if you haven’t already done so) Many experts advise us to start retirement planning as early as possible to enjoy the longest possible runway and the advantages of compounding interest. While that is good advice, it doesn’t have to trigger the panic button even if you have not done so and find yourself middle-aged or beyond. Based on my experience helping clients achieve their retirement dreams in my two-decade long career, I know it’s never too late to start because there is always room to plan ahead for tomorrow. By starting later, you need to climb a steeper slope to reach your goal. However, late starters may be in a stronger financial position, such as having accumulated a bigger savings account that can accelerate their returns. Some may have finished paying off their home or other major loans, leaving them debt-free. In my previous article on retirement planning, I touched upon the 3 progressive phases of retirement, namely Active, Relax and Steady...
Read more

Planning for a Baby? Here is how much you roughly need

Image
When our firstborn son was just shy of two years old, he was struck with a high fever in the middle of the night. Even as inexperienced young parents, my wife and I knew he needed immediate medical care. As we scrambled to prepare to bring him to A&E, I remember my wife asking me which hospital we should take our son to. She was mindful of the high cost of hospitalisation. As it turned out, he had to be warded for two days and the medical bill came up to a whopping S$5,000! Thankfully, everything was covered by the insurance company as we had bought hospitalisation insurance for the whole family. It certainly was one worry less for this pair of jittery young parents at the time. Financial planning for parenthood isn’t just about budgeting for the big and obvious things like pregnancy cost, medical care, education and enrichment classes. It is also about being ready for the little things that crop up along the way. It’s about being financially resilient as a family unit. There are o...
Read more