Has your income changed over the years? Are you under-covered or over-covered? The amount of coverage has to move in parallel with your income and lifestyle. Get some guidance from an independent financial expert on your current financial portfolio and how much coverage you actually need.
The purpose of a term life insurance plan is meant to cover existing debts and liabilities for a fixed period. If you are currently paying off a debt or pending the completion of your child's education, consider a duration long enough to cover these milestones.
Term life premiums have gone down by almost 50% over the past 5 years. Are you overpaying for your existing life insurance plans? Speak with an independent financial expert to find out.
Compare coverage, premiums, and benefits across insurers to make a more informed decision. With the right independent financial advisor guiding you, you will be given options to switch out your existing plans for new, cheaper ones, or to add on your coverage.
S$45.67
With the right insurance, you can be rest assured that your loved ones won't be financially burdened should anything happen to you. A comprehensive and tailored insurance policy according to your needs can help to cover the immediate bills, and defray the cost of daily living expenses in adverse situations.
Critical illness cover can be added to the main term life plan at a nominal amount. To determine the necessary coverage you need, it's beneficial to seek advice from an independent financial advisor who will assess your financial situation, do a review of your existing plans (if any), and provide suitable product recommendations.
Other than critical illness, there are other riders like disability that can be added to the main plan to provide a more comprehensive coverage overall. All in all, it will be useful to have a deep understanding about your current financial situation, the protection gaps you need to fill based on your lifestyle and how much budget should you cater for insurance.
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