Choosing the Right Insurance: A Look at Term Versus Whole Life
I recently did a podcast on insurance planning and was surprised by the overwhelming response. While consumers were generally thankful for the information, I was taken aback that some advisers were still unhappy with us advocating that term plans are the more suitable form of insurance for most situations. So let me once again revisit this age-old […]
A Balancing Act: What Is the Right Amount of Life Insurance for You
Choosing the right amount of life insurance is an important part of creating a sound wealth plan that takes care of your dependents even if the worse should happen. Arriving at the right number can be challenging because it requires not just financial analysis but ample introspection. In some ways, deciding on the right level […]
What Do the Changes to Medishield Life Mean for You?
MediShield Life was introduced back in the year 2015, a revamp from its predecessor “MediShield”. The key design for the plan is to provide affordable medical treatments for all Singaporeans and Singapore PRs regardless of their health conditions and to give a better benefit for lifetime coverage at the public hospitals (B2 or C wards). […]
Critical Illness Coverage: Beyond the Basics
Of all the enquiries that I have encountered regarding critical illness coverage, I sense that many struggle to find a coherent way to plan for it. They would fret over the level of coverage and cite high costs of medical treatments from various sources, then try to find a match. Then when they look at […]
Myth Versus Reality: The Advantages of Term Insurance
Two months ago, I wrote an article on this column revisiting choosing the right insurance: a look at term versus whole life. The conclusion was that in most situations, term insurance is the most suitable. As expected, not everyone agrees with that position. The crux of their objections was that when you buy term insurance instead […]
MediShield Life and Integrated Shield Plan’s Response to Soaring Cancer Drug Costs
In 2020, the MediShield Life Council conducted the first major review of the MediShield Life scheme since its launch in 2015. One key finding was that the cost of cancer treatment has been rising at a much faster rate than other treatments and, if not quickly addressed, would make the scheme unsustainable in the future. […]
Is Critical Illness Insurance Necessary for You?
Why do we need to be adequately insured for critical illness (CI)? We already have an Integrated Shield Plan, why do we need a CI plan? What is CI coverage for? These are some of the thoughts we may have when we are doing our insurance planning or review. Through this article, you will gain […]