Understanding the Trend: Decrease in Private Hospital Insurance Demand
The recent news of fewer individuals opting for private hospital insurance plans, coupled with a growing number of older adults abandoning such coverage altogether, underscores a significant shift in healthcare preferences and financial decisions.
Is Employer-Provided Life Insurance Enough? 3 Limitations You Need To Know
Employee group insurance, a key perk offered by employers, provides a range of coverages including life insurance, critical illness protection, and more. While these benefits can seem comprehensive, relying solely on employer-provided insurance has significant limitations. This article explores these limitations and highlights why securing your own personal insurance policy is crucial for continuous, tailored, and reliable protection. Discover the advantages of personalised coverage, dedicated service, and ensuring your insurability to navigate life’s uncertainties with confidence.
CPF LIFE vs Retirement Income Plans: Which Is Better for Retirement?
Choosing between CPF LIFE and Retirement Income Plans is a crucial decision for retirement planning. CPF LIFE, as a national longevity insurance annuity scheme, ensures regular monthly payouts regardless of lifespan, offering security for retirees’ desired lifestyles. In contrast, Retirement Income Plans from private insurers provide a mix of guaranteed and non-guaranteed benefits, catering to those seeking flexibility amidst market uncertainties. Explore the differences and discover which option best aligns with your retirement goals in this comprehensive comparison.
Life Insurance and Tax Implications in Singapore (2024)
Is your insurance premium eligible for income tax deduction? Or are you required to pay tax on insurance payout? In short, insurance premiums are generally not tax-deductible, and similarly, any insurance payout is also not taxable. Thus, if there is, say, a $1 million insurance payout, the full amount is tax-free, which is certainly good […]
How Much Life Insurance Do I Need?
Explore how to determine the right life insurance coverage using practical rules of thumb and detailed financial planning insights. Discover impacts of under and over-insurance, and get expert advice from Havend for a tailored insurance strategy.
Best Insurance Policies for Your Children: A Parent’s Ultimate Guide
Every child is a gift! As parents, we naturally strive to provide them with the best, even if it comes at a cost. Life insurance is one such consideration…but only if it makes sense. So, should we get life insurance for our children? Otherwise, which insurance should we buy for our children? If you have […]
A Complete Guide to Investment-Linked Policies (ILPs)
You can read chapter 4 of our eBook here. Investment-Linked Policies (ILPs) The world of ILPs has constantly evolved, and many insurers have launched numerous ILP products in recent years. The Havend team is constantly conducting research to gain a better understanding of these products. In recent years, insurance companies have created different types of […]
Do More Life Insurance Riders Equal to Better Coverage? Debunking the Myth.
Does having more riders mean better coverage? The more riders I add to my plan, the more coverage I should have, right? Is this a myth or a fact? There are times when I ask some of my contacts if they know what they purchased for their insurance plan, and their response is, “I think […]
Term vs. Whole Life Insurance: Key Differences
You can read chapter 4 of our eBook here. There are various types of insurance policies in the market. Typically, the common three types of insurance policies provide life, total and permanent disability (TPD), and critical illness coverages as listed here: Term life policies Whole life policies Protection-based investment-linked policies (ILPs) 1. Term Life […]
Life Insurance: A Smart Investment Move?
Insurance policies has evolved over the decades, ranging from pure protection to encompass savings and even investments. Term insurance, which typically offers 10, 20, 30 years of coverage has become cheaper, making insurance very affordable for everyone. Yet insurance products have also become more fanciful with many offering cash values such as whole life, investment-linked […]