Wednesday, December 12, 2007

SAFRA Insurance Plans

Hi Mr Tan,

I have come across SAFRA Essential Term and SAFRA Living Care Policies. Both are offered from NTUC Insurance to SAFRA members.

How do they compare with the similiar policies offered by NTUC? Would they be the same with only differece in the pricing?

I am thinking which policy I should be buying from. Your advice will be greatly appreciated.

REPLY

The premium rates for the SAFRA plans are much lower than similar policies sold by NTUC Income to the public. They are good value to the consumer. You should buy these plans to enjoy the attractive rates.

However, the SAFRA policy is a group policy and is subject to cancellation or revision of premium rates. So far, the claim experience has been quite favourable, so any adjustment in premium rates is quite modest.

In addition to the SAFRA insurance plans, you should have your personal Term insurance, as it is guaranteed for the duration of the policy.

Perhaps you should have have of the sum assured under the SAFRA plan and the other half under the personal Term insurance.

5 comments:

Ed said...

I personally have the SAFRA Essential Term and SAFRA Living Care Policies.

I find that they provide good value. For the SAFRA essential term, the monthly premium for
S$100000 sum assured is only SGD 11/month. (for person below 45 years)

And for the SAFRA Living Care policy, the full sum assured is payable on the diagnosis of the 30 specified major diseases, as well as daily cash payment for hospitalisation. The monthly premium for
S$100000 sum assured is only SGD 25/month. (for person below 45 years)

Anonymous said...

I am also a SAFRA policyholder. I am wondering if the new CEO would up rate to increase profits.

"New Official got 3 fire"

Khiat Han Hwee Adrian said...

You may also consider getting the LUV plan from NTUC Income if you are a union member.

Anonymous said...

Insurance customers should not have the great Singapore sale mentality.
You may buy to replace one that is not efficient or outgrown its usefulness but not because they are cheap.It is a waste of money no matter how cheap they are. You don't join the Union just to buy, right? You may buy to fill a gap.Don't fall into this kind of marketing trap.

Gregory said...

Yes, the safra ones are of very gd value for all national servicemen..Wished I had them but had no chance to purchase them at all..Lucky You!

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