Living a decent lifestyle in Singapore has become historically expensive. With car loan, housing loan, daily expenses, conservancy charges as well as shopping, traveling, dining and a host of many other things that drains the money in just a few days of receiving salary, we’re always in search of ways to earn some additional money as well as save some amount in order to lead a better life. Earning more usually isn’t that easy looking at the available time you find remaining after grinding in office for so many hours.
While a lot of people have the misconception that a life insurance in Singapore, if taken can substantially add up to the cost, there are ways using which you can save big bucks and the money that has been saved can then be used for a better and healthier lifestyle. Below are 3 expert tips about how can you save big money on life insurance in Singapore:
Insurance agents in Singapore can be bumped around almost anywhere including your morning gym, favorite coffee shop or leisure club. They try to sell you one or the other policies and while not all of them are dupes, being sold on an irrelevant insurance policy is not so uncommon still. Just one inappropriate insurance policy that you did not actually need or was expensive than you could possibly get can considerably increase your expenses. In order to save money on life insurance in Singapore,
Before you choose which agent you’d actually like to work with, its important that you check the following: -The Insurance agent in Singapore that you’re going to handover your life insurance responsibilities has to be a genuine adviser and not a salesy agent who’s only interested to sell no matter what. Judging this is not difficult if you can simply find the hints from the conversation that you’re having with him. -The insurance agent in Singapore that you choose to work should have good track record (Recommended). This is not necessary but if you can get such an agent, there’s nothing better as an insurance agent with good track record is almost a guaranty that you’re not going to be sold any unsolicited offer which isn’t appropriate to your needs.
Paying insurance premium on monthly basis sounds like a great option to so many since you can split the amount in easy monthly installments. Many of these companies offering life insurance in Singapore also advertise monthly installments on 0% interest rate, which is undoubtedly alluring. However, if you sit down and calculate, you’ll realize that monthly installments on life insurance can cost up to 3-4 percent higher than annual payments. If this doesn’t sound like much, consider this: Right now, the average interest rate on a housing loan is 1.2 – 1.5%. Any bank that charges 3% interest on a housing loan would simply get shoved out of the market. Why to borrow insurer the money on an additional 3% per annum then?
If you’re thinking that the advice of being healthy is darn general and has nothing to do with life insurance in Singapore, read on. Not so many people know that some of the health conditions attracts higher rate of insurance premium comparing to others. Insurance companies do charge extra for smokers, as they do for people who are obese. If you’re not living a healthy lifestyle, you’re not only going to spend money on treatment of those diseases but will end up paying high premium comparing to what others pay. Its therefore advised to be healthy and save money. Take morning walk, eat healthy food, be happy and save more. What better could there be.
It just takes a bit of care and you saw how easy it is to save a lot of money on life insurance. Taking a life insurance in Singapore is becoming more important than it has ever been. In any case, we highly recommend to take a life insurance policy for you as well as your family members according to your budget and requirements. If you think you’re confused, we’ll be happy to help free, provide nonsalesy and genuine advice so that you can choose that’s best for you. More information visit this link: http://thefinancialleaf.com/3-tips-to-save-big-on-lifeinsurance-in-singapore/