Tuesday, July 15, 2008

SAFRA insurance

Mr. Tan,
I plan to increase my cover for critical illness. To the best of your knowledge, what're the currently available plan in the market with $50 per mth? My agent told me CI plan do not come as a "main policy", instead, i must buy a "main plan" (usu a Whole life policy) & attach a CI rider-true?


I suggest that you insure under the SAFRA scheme, if you are a SAFRA member. Please ask SAFRA.


zhummmeng said...

Not true, your agent lied to you. You can buy a stand alone term plan.
Eg. like safra or luv or public officers' insurance which are dirt cheap. The only downside is you have to give up when you are no longer a member or employee of a club,union or civil service.
You can buy a standalone term plan from NTUC, Axa, UOB and few other companies.
I suggest that you sack your dishonest agent. He or she cannot be trusted anymore.

Khiat Han Hwee Adrian said...

I suggest that group insurance be taken up to supplement your existing coverage. Don't totally rely on Group Insurance like SAFRA or LUV plan.

Do not forget that you are paying for the union or membership fee on top of the insurance. You may decide one day to terminate your membership when you never use the benefits.

Insurance companies also have the rights to increase premium or even terminate the group insurance schemes, if proven to lose money or they decide not to work with each other, etc.

I suggest that you have your own Term Insurance and have group insurance as a supplement.

Wayne said...

You can buy a term plan attached with C.I rider.
I think Income & HSBC offer very competitive rates.

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