According to statistics, as low as less than two out of every 10 singaporians have adiquit life insurance cover. A lot of people who have taken one or the other kind of life insurance in singapore are having plans that are not covering themselves and their families adiquitly, which is a matter of immediate contemplation.
As the lifestyle of singaporians has changed over the years, being able to enjoy life-long financial protection has become increasingly important. An adiquit life insurance plan in singapore can provide complete peace of mind and worry-free life with financial freedom if you plan well and take right insurance plan that matches with your specific income range, medical situations and family needs. Comparison of life insurance plans in Singapore is one best way to determine what’s available and which one out of them is best for your specific situation. Here are some of the popular whole life insurance plans of different companies along with their salient features to help you comparing and finding out the best plan for your needs.
Here are three ways this plan can benefit you and your family: 1. Affordable cover
Receive one of the highest amounts of cover per dollar for the premiums you pay For example, a 33-year-old father supporting his wife, young child and mother could meet all his life protection needs for only $9.35^ a day – or about the price of a meal for two at a food centre.
The amount of cover you need, when you need it Choose to have high protection (and low investment) during your income-earning years, and low protection (and high investment) as you get closer to your retirement -Get an even greater level of protection with optional riders that cover the unexpected things in life – accidents, disabilities and hospitalization Flexible investment to meet your financial goals Choose from a wide range of investment funds suitable to your risk profile, each managed by a professional Fund Manager -Switch funds at any time to benefit from the ones that are performing well -Make top-ups to increase your investment amount -Have access to your cash any time after the first policy year through partial withdrawals – which will be -most ideal during your retirement years
The NTUC Vivocare plan provides comprehensive whole life insurance coverage. You never know when illnesses, disability or death may happen. With NTUC VivoCare, you will be well taken care of from the early stages of dread diseases right up to your golden years. VivoCare covers 74 medical conditions, ensuring you of comprehensive protection insurance coverage for early, intermediate and advanced stages of dread diseases. Top benefits at a glance: Covers 74 medical conditions for early, intermediate and advanced stages of dread diseases Coverage against death, total and permanent disability (TPD before the age of 65) and terminal illness Three times coverage for death and terminal illnesses before age 65 Extra coverage for angioplasty or other invasive treatment for coronary artery disease, diabetic complications, severe osteoporosis and severe rheumatoid Arthritis
MyLifeChoice’s Guaranteed Extra Protection option provides the choice to increase your insurance protection cover when you reach key milestones in life, such as marriage, starting a family or even upon graduation – without providing any evidence of health. MyLifeChoice’s key benefits: Increase your coverage at key life events without providing evidence of health Enjoy coverage of up to 275% of the Sum Assured. Guaranteed higher lump sum payout upon claim. Supplements retirement fund through lump sum withdrawal3. Optional Critical Illness and Total and Permanent Disability riders for coverage till age 99 and 70 next birthday, respectively:
Here are 5 reasons you may want to consider buying a MyLifeChoice insurance plan in Singapore. High protection offers good value for money MyLifeChoice’s Minimum Protection Value (MPV)2 assures you for up to 275% of the Sum Assured in the case of death, Critical Illness6 or Total and Permanent Disability6, ensuring your hard-earned dollars are stretched further. Short-term payment for long-term coverage You can choose to pay over 15, 20 or 25 years or until the age of 80 years age next birthday.
Know your financial commitments upfront MyLifeChoice guarantees a level premium throughout premium payment term, so you are well informed of your financial commitment from the start.
High protection, bonus payouts and easy access to savings With MyLife Choice, your monthly premiums will grow into savings over time. You will also have the access to these savings upon retirement. What’s more, bonuses paid over time will contribute to your retirement nest egg. Continuous cover, even if you lose your job If you happen to lose your job, you can let the company know and you will be covered continuously even without paying premium.
Which insurance plan is best depends on your needs and requirements. As you may have already noticed from the comparison of life insurance plans in Singapore above , each of the 3 popular plans have their own focuses and target areas. Depending on your goals, you can choose what is the best plan for you. Sometimes, its advisable to take help from an independent financial consultant who can give genuine (non-salesy) advice about which plan is best for you.
More information visit this link:
http://thefinancialleaf.com/comparisonof-best-life-insurance-plans-insingapore/