Tag: Insurance

5 Biggest Pitfall to Avoid When Planning for Retirement

5 Biggest Pitfall to Avoid When Planning for Retirement

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5 Biggest Pitfall to Avoid When Planning for Retirement. While thinking about retirement, one can be tempted to believe in the idea that it’s just a matter of saving for a while and the money will be there when need it. It’s not as simple as that. Experts advise us to plan ahead, estimating what expenses we might have in the coming years. If you’re planning for retirement, here are 5 things you should avoid: (more…)

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Transition of Integrated Shield Plan Riders to Co-Payment

Transition of Integrated Shield Plan Riders to Co-Payment

 

How the Changes to the Integrated Shield Plan Riders (PRUExtra) on 1 April 2021 will Impact You

In 2018, the Ministry of Health announced guidelines for policyholders to co-payment a minimum of 5% on medical claims made from their Integrated Shield Plan (IP) riders, to help address rising healthcare and health insurance costs in Singapore. The Health Insurance Task Force (HITF) also recommended that insurers incorporate suitable claims-cost control measures for all Integrated Shield Plan (IP) riders. (more…)

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Singapore Insurance: What is ElderShield and CareShield Life

Singapore Insurance: What is ElderShield and CareShield Life

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What is ElderShield?

According to CPF Board, Ministry of Health first launched ElderShield in September 2002. ElderShield was offered to eligible Singapore Citizens and Permanent Residents (PRs) who had a MediSave Account (more…)

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Singapore Insurance: on Four Top Misconceptions of Insurance

Singapore Insurance: on Four Top Misconceptions of Insurance

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According to The Strait Times (PUBLISHED NOV 22, 2020, 5:00 AM SGT) there are four top misconceptions of insurance in Singapore. Click below to read the full article. (more…)

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Singapore Insurance: Updates on Dependants’ Protection Scheme

Singapore Insurance: Updates on Dependants’ Protection Scheme

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What is Dependants’ Protection Scheme DPS?

According to CPF Board, Dependants’ Protection Scheme (DPS) is a term insurance that provides insured members and their families with some money to get through the first few years should the insured members pass away or when they suffer from Terminal Illness or Total and Permanent Disability.​ Thus, DPS is a basic term insurance plan which covers death, Terminal illness and Total and Permanent Disability, currently up (more…)

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Singapore Retirement: What is CPF Life & 5 facts of CPF Life

Singapore Retirement: What is CPF Life & 5 facts of CPF Life

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What is CPF Life?

According to CPF, it is CPF Lifelong Income For The Elderly (CPF LIFE) Scheme a longevity insurance scheme that insures you against running out of your retirement savings. Thus, the objective of CPF Life is to provide CPF members a monthly income for as long as they live to supplement their retirement expenses. (more…)

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What is CPF Medisave Additional Withdrawal Limits AWL

What is CPF Medisave Additional Withdrawal Limits AWL

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According to Ministry of Health, Additional Withdrawal Limits is to help Singaporeans pay for part or all of their Integrated Shield Plan (IP) premiums using Medisave. And according to CPF, The MediSave withdrawal limits are imposed to conserve members’ MediSave savings from being depleted too fast for their future hospitalisation needs. (more…)

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PRUCancer 360 an Affordable Cancer Insurance Plan

PRUCancer 360 an Affordable Cancer Insurance Plan

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According to Ministry of Health (MOH) Principal Causes of Death statistic for year 2017-2019 on the top of the chart is cancer. (source: https://www.moh.gov.sg/resources-statistics/singapore-health-facts/principal-causes-of-death) (more…)

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The Truth on 6 month of Your Emergency Fund During Covid-19

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(photo by pexels)

The Truth on 6 month of Your Emergency Fund During Covid-19

Very often financial consultant generally encourage you to set aside 6 months’ worth of your living expenses as a personal and/or family emergency fund, in case unforeseen situation happened in your life. But is 6 months of emergency fund really enough during Covid-19 pandemic? (more…)

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