Savings Plan Singapore

In today’s fast-paced world, it is crucial to have a well-thought-out financial plan that ensures stability and growth for the future. One effective way to achieve long-term financial goals is through long-term savings plans. This article explores how a long-term  savings plan  can provide a secure and fruitful investment avenue, ensuring returns for those seeking financial security in Singapore. ·  Stability and consistency: Long-term  savings plans  are designed to be held for a long period of time, typically ranging from five to thirty years. By committing to a long-term savings plan, you can benefit from a disciplined approach towards saving and investing. Payment of the premiums can be opted to be conducted on a monthly basis, instilling financial discipline. Premiums paid regularly gather over time, giving your money more time to grow and generate compounding returns. This leads to significant growth over the long term ·  Capital guaranteed One of the...

In a world where health uncertainties loom large, being sufficiently insured against critical illnesses has become an essential part of financial planning. Critical illnesses can be emotionally and financially devastating, leading many to seek protection through insurance coverage. Being underinsured against critical illnesses can have severe consequences, leaving you and your family vulnerable during already challenging times. Being underinsured against critical illness means not having adequate critical illness insurance coverage that can help cover medical expenses, treatments and recovery costs. Let’s explore the potential consequences of being underinsured: ·  Financial strain: Critical illnesses often require extensive medical treatments, specialised care and long hospital stays. Without sufficient  critical illness insurance  coverage, you may end up paying a substantial portion of these costs from your pocket. The financial burden can be overwhelming and may lead ...

Health is wealth. In today’s uncertain world ensuring sufficient protection against unforeseen medical emergencies has become the number one priority for many individuals in Singapore. To protect themselves and their families from the financial burden of critical illnesses, people often purchase insurance coverage. Two popular options that offer comprehensive coverage are critical illness insurance and Integrated Shield Plans. However, the question remains, do you need critical illness insurance if you already have an Integrated Shield Plan? Before diving into the details, it is important to understand the fundamental difference between critical illness insurance and Integrated Shield Plans.  Critical illness insurance  is a standalone policy that provides a lump sum payout upon diagnosis of a specific critical illness covered under the policy. The illnesses listed in the policy include cancer, heart attack, stroke, etc. The payout from the policy can be used to cover medical ...

When applying for life insurance in Singapore, one of the important factors that insurance companies consider in determining your premiums is your family health history. Family history plays a significant role in assessing the risk associated with insuring, as it provides insights into potential hereditary health conditions that may impact one’s life expectancy. Here, we will explore how your family history influences life insurance premiums and the steps you can take to navigate this aspect of the process. ·  Genetic predisposition: Family history can reveal genetic predispositions to certain illnesses or diseases. For instance, if several close relatives have suffered from heart disease or cancer, it might suggest higher chances of the policyholder facing such similar health challenges in the future. This increased risk can result in higher insurance premiums, as the insurer takes into account the potential financial burden of covering a policyholder with higher health risk. ·...

In Singapore, with its ever-increasing healthcare costs and the rising incidence of critical illnesses, having insurance coverage is crucial. Critical illness insurance provides financial protection when faced with health conditions. However, many Singaporeans remain uncertain about whether they have the right amount of critical illness coverage and if it would be enough to safeguard their financial well-being during medical emergencies. This article will explore the importance of critical illness coverage and tips on how to ensure you have the right level of protection. The significance of critical illness coverage Critical illnesses, such as cancer, heart attacks and strokes are life-changing events that can strike anyone, regardless of age or lifestyle. These conditions often require extensive medical attention and can lead to loss of income due to the inability to work.  Critical illness insurance  is specifically designed to offer a lump sum payout upon diagnosis, allowin...

Health insurance plays an important role in safeguarding individuals and families against the rising cost of healthcare. In Singapore, where healthcare can be expensive, having a comprehensive health insurance plan is essential. However, misconceptions and myths about health insurance plans often lead to confusion. In this article, we will debunk some of the most common myths surrounding health insurance plans in Singapore. ·  Myth 1: Young people do not require health insurance: Many young individuals believe that because of their good health, they do not need a  health insurance plan.  However, accidents and unexpected illnesses can occur at any age. By obtaining health insurance early, one can secure coverage for potential medical expenses that may arise later in life. Furthermore, starting a health insurance plan at a young age can lead to lower premiums and longer coverage duration. ·  Myth 2: Employer-provided health insurance is sufficient: While it is true th...