Varshamore

 Life starts to look a little more peaceful and better when you have it all figured out financially for the future. Today in recent times, where everything seems uncertain, it is critical that you have got yourself covered for the future. One of the best ways to do that is to invest in investment linked policies. An investment linked policy is a hybrid policy that clubs both life protection and investments into one policy. In this policy, the premiums are used to pay for units in one or more sub-funds of your choice.  A fraction of these units are then sold to buy insurance while the rest of them remain invested.  The policyholders also have the space to adjust their coverage so as to scale their investment nest egg in the later years. This can come in useful particularly for those who want to reduce their life coverage, especially after their children are no longer financially dependent on them.  Since there are many variants of investment linked insurance policies,...

 You may have heard friends and colleagues discuss about critical illness insurance plans in Singapore. You may have wondered whether you need critical illness insurance at all. The answer is a definite YES! Curious to know why? Read on to discover what a critical illness insurance plan can do for you.  What is critical illness insurance? A critical illness insurance plan pays the insured individual a lump sum amount if they are diagnosed with any of the critical illnesses mentioned in the plan. A good critical illness insurance plan will cover you up to the age of a 100 years and offer good room for customisability through supplementary benefits. Some of the supplementary benefits that you can opt for include – ü   Coverage against relapse and recurrence of a critical illness ü   Coverage against early stage critical illnesses ü   Coverage against certain severe illnesses ü   Waiver of premiums for a year if one’s spouse is diagnosed with a criti...

  Dengue fever is a huge health concern in Singapore. The National Environment Agency (NEA) reported around 105 cases in the week ending on 2 nd October 2021. Dengue fever is transmitted through the bite of an Aedes mosquito. It causes symptoms such as fever, vomiting, body ache, headache, and bone pain. Patients often require hospitalisation for the treatment of dengue fever. What is dengue insurance cover? Dengue insurance cover is a special insurance plan that exclusively offers coverage for dengue fever in Singapore. The primary coverage offered by the plan is a S$500 benefit that gets paid out upon diagnosis of dengue fever. This plan also pays you a daily cash allowance of S$200 a day for up to a certain number of days as decided by the insurer (usually around 5 days). You can use this payout to afford any medical expenses you face for the treatment of dengue. The dengue insurance cover also generally gives a death benefit payout for those who pass away due to dengue...

  An endowment plan is an insurance product that combines life insurance, savings, and a bit of investment too. The insured individual receives a lump sum payout when the plan matures. In addition, there is death coverage included – theplan’s nominee will receive a death benefit payout if the insured individual passes away while the plan is still active. If you opt for a participating endowment plan, you stand to receive a payout with a guaranteed component and a non-guaranteed part as well. The non-guaranteed part depends on the performance of the funds your premiums have been invested in. An endowment plan has the potential to give you much higher returns than a bank savings account. You can either opt for a long or short term endowment plan depending on your goals. Endowment plans in Singapore can have premium payment terms that last anywhere from 5 to 30 years. The policy period itself can last anywhere from 10 to 30 years. In this article, we will take a closer look at some...

Whether you are a Singaporean citizen or an expat, you need proper health insurance when living in the Lion City. While Singapore has some of the best hospitals in the world, the cost of treatment can get quite expensive. Singaporean citizens and PRs get coverage from MediShield Life for their health care expenses. However, MediShield Life is pegged at only class C/B2 wards in public hospitals. If you prefer other types of hospitals or wards, this coverage may be insufficient. Moreover, the annual claim limit of MediShield Life is capped at S$150,000 with further limits placed on specific treatments such as chemotherapy and kidney dialysis. If you prefer a private hospital, your treatment charges may go beyond these thresholds. In this case, you may want to consider health insurance known as an Integrated Shield Plan, that can help provide more extensive coverage. If you are planning to buy an Integrated Shield Plan for the first time, you may need a bit of help. Read on to disco...

  Waiting to welcome a baby into this world can be extremely exciting for a couple. As the day draws closer, you take several steps to ensure everything is just perfect. From preparing your home to be safe for the little one to planning the baby shower, every golden moment is cherished. Now, this is also the right time to secure your home and new family addition with adequate insurance coverage. After all, insurance can provide financial protection in times of the unexpected. In this article, we will take a look at 3 types of insurance plans that you can consider opting for as a parent-to-be.   1.     Maternity insurance Maternity insurance can offer you much-needed coverage against possible pregnancy-related complications and health issues for both mother and child. You can opt for a bundled maternity insurance plan in Singapore that covers the mother against pregnancy complications and death, and then later transfers the life insurance coverage to the new b...

  A retirement insurance plan is one of the ways to save up for the golden years of your life. These plans are designed to give you a regular monthly income upon maturity. This income can help you stay financially independent in your senior years. Are you hearing about retirement insurance for the first time? If so, this article is just for you. Read on to discover 5 things you need to know about retirement insurance in Singapore. 1.     You can customise the payout period One of the best things about retirement insurance plans is that you can customise the payout period as per your requirement. You can start receiving your payouts from the age of 50 years based on your preferred payout period. Most insurers offer payout periods of 10, 15, 20, 25, and 30 years. 2.     Continue receiving stable monthly income despite market volatility Some insurers also safeguard your payout against market volatility. This is good news for you as you will get...