insurance advisor

  If you are about to welcome a little one, you need a special kind of insurance to protect yourself and your unborn baby and have greater peace of mind to fully enjoy your pregnancy journey. This insurance is known as a maternity term plan. A maternity term plan is a single-premium plan that offers extensive protection for the mum and her baby. Maternity insurance has many benefits for both the mum-to-be and her baby. These benefits provide coverage during the pregnancy and also extend towards the newborn after delivery. If you are hearing about maternity insurance for the first time, you may not be fully aware of the benefits that the coverage holds for you. To help you gain insight, we have listed down 5 wonderful ways in which maternity insurance covers an expectant mother and her baby. 1.       Coverage for pregnancy complications Leading insurance companies cover a range of pregnancy complications such as uterine rupture, miscarriage due to an accide...

  A retirement insurance plan is one of the ways to save up for the golden years of your life. These plans are designed to give you a regular monthly income upon maturity. This income can help you stay financially independent in your senior years. Are you hearing about retirement insurance for the first time? If so, this article is just for you. Read on to discover 5 things you need to know about retirement insurance in Singapore. 1.       You can customise the payout period One of the best things about retirement insurance plans is that you can customise the payout period as per your requirement. You can start receiving your payouts from the age of 50 years based on your preferred payout period. Most insurers offer payout periods of 10, 15, 20, 25, and 30 years. 2.       Continue receiving stable monthly income despite market volatility Some insurers also safeguard your payout against market volatility. This is good news...

  The uncertain times of COVID-19 have not only sent waves of panic in the entire world but have also acted as a reminder that many of us, most of the times, risk being financially unprepared to deal with a catastrophe. We can however avert unwanted outcomes by buying a term insurance and to use it as a safety net against different unforeseen circumstances. Buying a term insurance plan is also a great and affordable way to be sufficiently covered since this insurance can provide substantial life protection at an economical cost. A term insurance stands to be a basic policy that is limited to providing complete protection with no investment or savings element. On the other hand, a whole life insurance plan can come with cash value. Questions to ask when buying term insurance: Before you make up your mind to buy term insurance, make sure you ask these questions. Let’s take a look at what these questions are. What is the tenure of the cover? It is imperative to ensure that the te...

  Waiting to welcome a baby into this world can be extremely exciting for a couple. As the day draws closer, you take several steps to ensure everything is just perfect. From preparing your home to be safe for the little one to planning the baby shower, every golden moment is cherished. Now, this is also the right time to secure your home and new family addition with adequate insurance coverage. After all, insurance can provide financial protection in times of the unexpected. In this article, we will take a look at 3 types of insurance plans that you can consider opting for as a parent-to-be. Maternity insurance Maternity insurance can offer you much-needed coverage against possible pregnancy-related complications and health issues for both mother and child. You can opt for a bundled maternity insurance plan in Singapore that covers the mother against pregnancy complications and death, and then later transfers the life insurance coverage to the new born upon birth... READ MORE...

  Malcolm X once said, “The future belongs to those who prepare for it today”. Rings true because while we spend most of our lives worrying for the future, turns out, preparing for it is not as tricky. We spend majority of our lives saving so as to prep ourselves for the future; however the amount we would end up accumulating won’t suffice if it stays tucked in a corner in a safe (not to mention inflation). Hence, it is critical to invest in an endowment plan so as to make that money work for us beyond what we save. What is an endowment plan?   An endowment plan is an insurance saving plan that can provide guaranteed savings . In simpler words, an endowment plan is basically a saving plan that is clubbed with a death benefit. Payment of premiums: Typically, you can choose between two kinds of premiums that you would need to pay for an endowment plan: Single or lump-sum premium: Under this kind of premium, you will need to pay a lump sum premium in one shot when you...

  If you are planning to buy a house in the near future, you are aware that you need a substantial amount of savings for it. Now, putting aside funds from your salary into a bank account may not suffice. After all, you have many other responsibilities that come your way. An insurance savings plan can prove helpful here. You can make use of this plan to build your wealth, helping you to fund your dream home. Wondering how? Let’s take a look at what an insurance savings plan is and how it can help you. How does an insurance savings plan work? An insurance savings plan lets you build up your savings over the plan’s term. You pay premiums which accumulate returns. You can sometimes expect an interest rate of 3% or even 4.25% on an insurance savings plan. This way, you can expect higher returns than what you normally would with a regular bank account. Higher returns give you a much larger scope for saving the funds you need for the home you want to buy for yourself and your lov...

As per the Protection Gap Study 2017 conducted by Life Insurance Association Singapore, the country faced a CI protection gap and mortality protection gap of about S$256,826 and S$169,673 per economically active adult, respectively. This comes to a national mortality and CI protection gap of S$893 billion. These figures illustrates the lack of coverage needed against financial repercussions in the events such as critical illnesses or death. While these figures seem to be extremely staggering, the fact remains that Singaporeans are not sufficiently covered for cancer – one out of the many critical illnesses. This gap could come as a result of lack of awareness and understanding around cancer insurance . Hence, here are some very common myths on cancer insurance that are prevalent and we are here to debunk these myths. Myth: Coverage for cancer is always included in an international health insurance plan: This is not the case always. In a number of standard and basic health insura...

  Welcoming a baby into the world is a big moment for couples. As a mother or father, you would want all the arrangements to be made just perfect before you welcome your bundle of joy. From the baby’s room to the new clothes, you take great pains to ensure things are just perfect. When making a list of all the things you need to figure out before welcoming your baby, don’t forget to think about maternity insurance too. Maternity insurance provides much-needed protection for both mother and baby during pregnancy and beyond. As a parent, it might be wise to get maternity insurance in order to safeguard yourself against the financial burdens of paying for any medical complications that may arise during pregnancy. While these complications are not too common, they aren’t unheard of either. In this article, we will take you through 5 important things that you need to think about when buying maternity insurance. 1.         The kind of coverage you...

  Wealth accumulation is the key to achieving financial goals. However, what holds more importance is the fact that it can safeguard your funds so that you can benefit from it in a time of need. Keeping in mind the fact that such exigent times can arise at any time in life, the best way to accumulate wealth and keep it protected to achieve your financial goals is to buy a good and flexible investment linked plan . Let’s take a look at 5 ways investment linked plans can help you with, when it comes to wealth accumulation. 1.     Invest and protect your wealth at the same time: An investment linked plan gives you the benefit of investing and protecting your wealth all at the same time through unforeseen life events. For instance, Chris is a father of 2 kids who runs a successful business worth $400m. In order to expand his company, he invested substantial savings back into the business. Chris now wants to scale his wealth but is worried that he might lose his inves...

  Breast cancer is one of the main forms of cancer affecting women in Singapore. Studies show that around 1 out of every 16 women will be diagnosed with breast cancer at some point in their life. This brings to attention the importance of having adequate insurance coverage for such an illness. This protection can come in the form of breast cancer insurance . Breast cancer insurance is a form of microinsurance that exclusively covers breast cancer. If you are looking to get this form of coverage, you may want to know a bit more about the protection you can receive. To that effect, we have listed down 5 things you need to know about breast cancer insurance in Singapore. 1.     The payout Before taking an insurance plan, you would want to know how much of a payout you can expect to get. A breast cancer insurance plan generally offers a payout of around S$10,000 under a single valid claim. READ MORE :  5 Things To Know About Breast Cancer Insurance In Singa...

  There are various factors that one has to think about when it comes to taking up an education loan in India. It is essential for a student to choose a loan plan that they would be comfortable paying back. Thorough and detailed research is a must before taking up any education loan plan to understand its various terms and conditions. This is to be clear about crucial details like the tenure of the loan, interest rate, and monthly EMIs that the student will be paying. It is very essential to be specific about these aspects, as the interest rates on education loans depend on these factors as well. Here are the important factors to keep in mind before taking an education loan In India . 1.   Interest Rates Always remember to check whether the education loan that is offered to you by a financial institution comes with a floating interest rate or fixed rate.  This is because floating interest rates are always a bit cheaper as compared to fixed rates, and the loans that a...

  An investment linked plan (ILP) is a hybrid insurance product that combines life insurance along with an investment component. When buying life insurance, you might have had a friend or two recommend that you look into ILPs. If you are considering doing so, you may want to read this blog first as we give you an overview of what an ILP is. How do ILPs work? When you sign up for an ILP, you get a choice between single-premium and regular premiums. The premiums that you pay are used to buy units in sub-funds that can potentially help you earn through their returns. A part of the premiums that you pay will be used for buying life insurance coverage. You can also switch between funds as your investment goals and risk appetite change. You also get the option of adjusting your life insurance coverage as your needs change. For instance, some insurers allow you to reduce your life insurance coverage all the way down to zero after a certain age (usually around 50 years). What are ...

  Whether your retirement years are nearing or not, you should be prepared. In this regard, it is extremely important to be prepared financially. You would not want the golden years of your life to be hampered by a lack of proper financial planning. Now, you may need a bit of guidance for proper retirement planning, especially if you have never thought in this direction before. To help you out, this blog lists down 5 things that you should consider achieving before you retire. 1.     Clear off outstanding dues If you have outstanding dues such as a car loan or a home mortgage, now would be the best time to pay them off. You do not want such debts stretching into your retirement years. Try to put a little extra towards your dues every month so that you can retire debt-free! This will also provide you with the peace of mind and help in reducing your financial stress. 2.     Consider retirement insurance A retirement insurance plan can be a sou...

  Your future financial stability depends heavily on how well you plan for future goals in your 30s. You need to create real goals and stay focussed on achieving them. Sometimes, we need a bit of help every now and then. We have listed down 4 financial goals you should achieve before you retire. Let’s take a look – Fill any gaps in insurance coverage In your senior years, you may find yourself needing to make claims on insurance more often. Therefore, ensure that you have adequate coverage early in your 30s. Check your current health coverage by reviewing your health insurance plan. Think about whether you want to enhance your coverage by buying critical illness insurance or cancer insurance . Also, make sure that your life insurance coverage will suffice for your loved ones if something unfortunate happens to you. Read More :  4 financial goals to aim for in your 30s .

  A life insurance plan covers you against death, terminal illness, and total permanent disability. You can either buy term insurance that covers you for a fixed period or opt for whole life insurance that covers you for the entirety of your life span. Now, buying life insurance can sometimes be confusing. This is true especially if you are buying coverage for the first time. Having the right information on hand can ensure that you make the right decision when it comes to buying life insurance . To help you out in this regard, we have listed down 5 things to do before you buy life insurance. Calculate how much existing debt you have If something unfortunate happens to you, your existing loans and debt will probably fall on the shoulders of your loved ones. They may not have the finances to afford them. Therefore, your life insurance payout should ideally cover all your existing debt. Take into consideration any loans you have including your mortgage, car loan, study loan and ...