Singapore Financial Planners

“Buy Term, Invest the Rest” – if you’ve been researching life insurance policies in Singapore, you might have seen this phrase floating around on various forums and financial blogs related to the million-dollar question, “Should I get a term life or whole life insurance?” For the uninitiated, this phrase recommends purchasing a term plan instead of a whole life plan and using the additional money that would have been spent on the whole life policy to invest in other investment instruments that can generate higher returns. While there are merits in the above phrase, everyone’s circumstances and priorities differ, so you shouldn’t just take it at face value. To help you determine which is the right plan for you – term or whole life, we’ve prepared a few questions you can ask yourself. But before we can even begin discussing these questions, let’s first understand the 2 types of life insurance and how they differ. Difference between Whole and Term Life Insurance Term Life Insura...

The China Taiping i-Protect is a non-participating regular premium term insurance that covers death and terminal illness (TI). It offers guaranteed renewability, convertibility options, and the option to enhance your coverage with optional riders which covers 161 conditions. Criteria Minimum sum assured of 200k. Coverage up to age 85. Product Features Policy terms Flexible policy terms ranging from 11 to 40 years or when the insured reaches 65, 75, or 85 years of age. The plan also offers guaranteed renewability with either a 5 or 10-year policy term up till the age of 85. Premium Payment Terms & Options The China Taiping i-Protect is only available as a regular premium plan with level and guaranteed premiums throughout the policy term. The premium upon renewal will be based on the age on the next birthday of the insured. Although there is no minimum premium payment, there is a minimum sum assured. Factors such as your age, gender, smoker or non-smoker, sum assured, pol...

Let’s be honest, getting insurance is not easy business with its complicated jargon. Unfortunately, life is unpredictable. So, what life insurance gives us is the assurance of knowing that our loved ones are protected no matter what happens. This guide focuses on term life insurance – the simplest and most basic form of life insurance that provides protection coverage only. We unpack everything you need to know about term life insurance, from what it’s about and how it differs from other types of insurance to what you should take into account when buying a term plan, ending with a comparison of the term life insurance plans available in Singapore. Let’s get you covered – literally and figuratively. What is Term Life Insurance? Term insurance is a type of life insurance that offers pure protection coverage for a specified period of time. If you were to pass on or get diagnosed with a terminal illness (TI) while your policy is in force, the sum insured will be paid out to you and yo...

AXA Term Protector is a non-participating term life insurance policy that allows you to customise your coverage to your specific needs. It offers coverage for Terminal Illness (TI) and Death, and offers additional riders to enhance your coverage. Criteria Policy entry age between 1 month and 70 for AXA Term Protector and 16 to 70 for AXA Term Protector Prime Minimum sum assured of $100k for AXA Term Protector and $2 million for AXA Term Protector Prime Product Features Policy Terms AXA’s Term Protector and Term Protector Prime allows you to select between two options for your coverage term. One option is to be covered up to age 50, 55, 60, 65, 70, 75, or 99. The second option is to be covered for a period of 5, 10, 15, 20, 25, or 30 years. Premium Payment Terms & Options You can opt to pay for your coverage in a single payment or over the course of the policy term. Protection Death Benefit & Terminal Illness Benefit If you pass away or are diagnosed with a termi...

Ever heard of the famous quote by Warren Buffett? “If you don’t find a way to make money while you sleep, you will work until you die.” This is perfectly true, especially for many of us who aren’t so lucky to be born with a silver spoon. One way to make money even while we are asleep is by investing. But if we are new to the world of investing and do not want to dive into the risk before even seeing the returns immediately, how should we begin? Why not consider SGS bonds to start and diversify your investment portfolio? What are SGS? SGS bonds are debt securities issued by the Singapore government that allow you to receive a fixed, steady income twice a year (every 6 months) starting from the month of bond purchase until the bond matures. Upon maturity of the bond, you receive the principal sum – your initial investment back. It works similarly to any other type of bond, so I highly recommend reading our guide to bond investing in Singapore if you haven’t yet. The main differe...

Tokio Marine’s TM Term Assure (II) is a non-participating, regular premium term life insurance. It provides you coverage from death, and terminal illness. This policy is made available in 4 currencies: SGD, USD, AUD, and GBP. Criteria Minimum sum assured of $100k   Product Features Policy Terms The policy is available in the following coverage periods: 5 years or 10 years (with Guaranteed Renewal Privilege) 11 years till 85 Age Next Birthday (ANB) Premium Payment Terms & Options The TM Term Assure (II) can be bought as a Single and Third Party Policy. You may purchase the Single Policy for your personal coverage and the Third Party Policy to cover another individual. For a Single Party Policy of a 35 ANB non-smoking male who has a Basic Sum Assured of S$500K with a coverage period of 40 years, he would incur a premium payable of S$2.20 daily. Premium rates are determined by the prevailing rates at the time of renewal, but stay levelled and guaranteed during the ...