In Singapore, basic health insurance needs are covered under the CPF Medishield scheme, you can upgrade your basic Medishield Life to private insurers for better coverage. These plans are called private Integrated Shield Plans (IPs). In this article, I will explain what Medishield Life is and how the integrated shield plans work.
The Home Protection Scheme (HPS) is a mortgage reducing insurance that insures CPF members and their families against losing their homes in the event of death or permanent incapacity before their housing loans are paid up. HPS will give you protection up to age 65 or the end of the loan period, whichever is […]
In a low-interest-rate environment, your money might be yearning for better growth opportunities. But if you are not comfortable with investing. A short term endowment plan could be a good option. Short term endowment plans are issued by the insurance companies and I like their simple, no-trick and guaranteed return. After Aviva launched MySecureSaver, their […]
The Central Provident Fund Board (CPFB) announced on 2 October 2020 that, from 1 April 2021, CPF members under the Dependants’ Protection Scheme (DPS) will enjoy a higher sum assured of $70,000 at more attractive premiums. The scheme will also cover members up to age 65. Currently, the sum assured is $46,000 and DPS coverage is […]
By now you are probably aware that Aviva and Singlife are going to merge into one company. You may be wondering how it affects their policyholders and what is the impact of Singapore’s financial industry. Recently, I was interviewed by the Straits Times regarding my views on the merger. If you think about it, since the […]
The new Coronavirus Covid-19, commonly known as Wuhan virus, has certainly spread fears globally. With the increasing number of the death toll and affected people, have you wondered if your insurance is a line of defence of your family’s wealth? After all, you have purchased the insurance to protect the uncertain in life right? Insurance […]