We at Singapore Financial Planners would like to wish our clients and everyone a Happy New Year! May 2020 be a blessed year for you and your loved ones. 😄
CareShield Life, which is a new basic long-term care insurance scheme, is in operation in Singapore. This disability insurance scheme is not entirely a new thing. Before, it was known as ElderShield. However, there are some critical differences between them regarding eligibility, premiums, premium payment term, and duration of payout. All Singaporeans aged 40 and below will automatically come under CareShield Life from October 2020. And Singaporeans under this category will have no option to leave the scheme. So, if you’re one of them, this comparison article might not probably be relevant. Please spend some time reading our guide on CareShield Life here. However, if you’re more than 40 years old, this article is for you. The decision you need to make is to choose to stay with CareShield Life or opt-out altogether. This article aims to provide you with pointers to help you make an informed decision. And through which, hopefully, you understand what suits you best while also not b...
Singapore is one of the few countries where investing is as common as buying groceries. Among the many assets, in recent years, Singaporeans have been leaning more toward Real Estate Investment Trusts (REITs). 16% of the citizens in Singapore invest in REITs which makes around 464,000 people from the whole population. And considering the diversification and high yield of REITs, we are not in the least surprised! REITs allow ordinary citizens to invest in properties without owning any building or apartment. The beauty of this asset is that you get to boost your active and passive income without spending millions on purchasing a property. Yes, you can put your money in a savings account , but that won’t get you anywhere near the earnings a REITs dividend can provide! The Singapore Exchange Market (SGX) currently has 44 REITs listed which makes it hard to choose. But you don’t have to worry about that, because I did the research for you! Without any more delay, let’s see what ar...
A flexible endowment plan which allows you or your loved ones the option of making partial cash withdrawal at any time, the Great Eastern GREAT Wealth Multiplier aids you in attaining your financial needs/goals for the future. Not only that, but this plan also provides you with a piece of mind by guaranteeing your capital after a certain period. Criteria Minimum premium payment term of 5 years No medical underwriting needed Features Policy Terms You can choose between a policy term of 5, 10, or 15 years with the Great Eastern GREAT Wealth Multiplier II. By choosing the 5 or 10-year premium payment duration, the capital that you invested in will be guaranteed after your 15th policy year. Whereas for the 15-year premium payment, your capital is only guaranteed after your 20th policy year. Premium Allocation 100% of your premiums paid will be allocated to purchase the participating fund units. As of 31st December 2020, the allocation of your premiums is as shown in ...
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