Which Insurance To Get In Singapore | Watch This Before You Buy!
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- Опубліковано 21 лис 2020
- There are lots of insurance out there, it is confusing trying to understand them all. In this video, I will share with you what kinds of insurance are out there, which you should get, and of course, how you can save on insurance. Enjoy!
INVESTING
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SOCIALS
► Instagram kvli.link/instagram
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► Twitter kvli.link/twitter
Thanks Kelvin for making this so simple to understand! I love how simple yet useful & humorous your videos are. Thanks for the great videos!
Hi! I chanced upon your channel and love how you made concepts simple + sense of humour. Keep up the good work!
Thank you so much kevin. Your style and passion to teach is admirable and am grateful to all your videos. I plan to watch a lot of them to get ahead in my financial journey. God bless your sir.
You are a blessing!
HAHAH I love every single one of your video. Keep up the good work!
Thanks!!
Just what i need! Thanks!
Thanks Kelvin for the breakdown! Can do something similar for endowment plans?
Good video. Term life insurance is also another simple yet hugely effective option. And it’s the cheapest.
It is good to highlight why personal accident plan can save money even for mild fracture or sprain as a MRI costs around 400 to 1500 alone, physiotherapy costs around 50-150 per session, tuina cost 30 to 100 etc. The problem with such fractures etc is that you need multiple treatments or long period of recovery so the cost is quite high in sg.
so yee saying accident plan is good
Excellent explanations
Hi Kelvin, will you share more on traded insurance plans. Thank you
Dude, you got your calculation for ILP wrongly. After age 55, the next age band is 60. So if you take 72000 - 60000 = 12000. That's 12000 over 5 years which equals to $2400/year. It does not increase. Alternatively, you can take 72000, divide by 30 policy years, you would still get $2400/year. And for clarification for the rest of the viewers, that column shows net total premium paid, not premium to be paid yearly.
Hi Kelvin, can you teach us how to trade options?
Thanks Kelvin. Will like to know more. Wonder if you can go deeper in the topic on hospital plan? How to contact you?
Hi Kelvin, I badly need your advice!
To my bad I just signed (on 10th June) for a 8 years ILP through DBS for manulife smartretire (ii). I am in my mid 30s holding Employment Pass and was looking for a long term investment ( I already have life insurance somewhere else), this platform is giving an option for switching unit trust funds without any additional cost - yearly 1.3% flat platform fee & got promotion of additional units worth of 10% first years premium + SGD 900. Can you please suggest if I should still continue?
May I know where did u get the 5:31 premium comparison table from?
Do you know where we can see the Claim settlement ratio and ASR of these insurance companies to evaluate best insurance provider in the market?
any suggestions what good term life insurance plans there are?
It would help if you show the number of insurance like a mind map, so it is easier to absorb the info.
If that simple kind of info you also can't absorb, yah, you definitely need an insurance
Hi, what did you get for yourself?
💯
Hi kelvin! Wanted to know if there are taxes to pay as singaporeans, for both stocks and crypto earnings
There's no capital gains tax for both
Hi Kelvin, will you recommend buying ILP for someone who do not want to monitor their investments and just focus on dollar cost averaging
If dont want to monitor, you can buy an index fund, its much cheaper and your insurance is not exposed to market risks
I don't think if you signed up early, at the age of 40, the premium still remain at the price you signed up at 30 years old
I think the appropriate explanation is the chances u get illness at 40 are higher than 30, so u will need pay more because the underlying risk
Which means if you signed up early, they have to honor the contract as u signed at 30, even u have different kind of illness at 40, insurance company will still increase the premium as illustrated in the premium table , that increase by your age, but of course without extra charges due to your body condition
Sir,.
I had an accident at work. Pain in legs, back. Almost blind in both eyes. Doctor said need surgery.
Now if I want to go to the country (Bangladesh) for treatment, will the insurance company give me any help?
Would like to ask for advice on if I should terminate my savings plan with prudential after paying 6 years to invest in a term insurance along with ILP.. I would lose about $10k for those amount contributed in the past 6 years… the surrender fee is $2.6k
Oh my, that sounds bad. I also terminated ILP + savings plan few years ago, and i lost a bit of money.
My thought process is, if i withdraw, assuming market can give me 6-8% returns, which can give me a higher return in 20 years time
what about whole life ILP by the great eastern ?
All ilp has very high fees. Best talk to your agent to find out
im interested
Which is best insurance for a single foreigner working in SG?
Mmm… my daughter had a major surgery but my final bill was about 3% of the actual bill. … Do we really need so much insurance?
Hm, its best to talk to your agent about it. Personally im preparing for the worse case scenario, eg becomes disabled or vegetable state where i cant work anymore. That’s when I’m glad i have insurance
Great video ! I’m from the Philippines and I’m staying in SG now. I know I’m going back to PH in a couple of years. Is it okay for me to still get life insurance here ?
I'm not too sure about u. But if i know i'm going back, I will still try to get the cheapest life insurance just in case anything happens
Hi Kelvin, u mentioned that u will leave your insurance agent contact in the description box, but I don't seem to be able to find it.
Can u please provide your insurance agent contact please?
I hv been looking for a gd reliable agent for a very very very long time.
Thk u.
Hello Kelvin, as a beginner investor as well as someone who has sort of started my adulting journey, thank you for your videos (investments, hdb etc) as they are all very practical and useful.
As I would only be able to commit a small sum on a monthly basis (~200) do you recommend slowly building a pure dividend income portfolio or what can I start with? Also, would like to ask your thoughts on pure "investment" plans by insurance companies i.e GE Wealth blah blah and AIA etc
I feel its fine to have a small amount. If you prefer to invest every month, use a broker that doesn't have min commission like tiger so ur commission is lower. Otherwise you can invest every few months instead. Personally i dont like investment plans because of the super high fees and low returns, but the good point about those is everything is done for u automatically
@@KelvinLearnsInvesting I see, thanks for your reply, also, I noticed that there's a minimum no of shares i.e 100 for DBS, how do I go about buying a small amount of that instead?
@@anzxWEE Ah 100 is the minimum amount, you cant go smaller than that
@@anzxWEE Do check out the tutorial on how to buy stocks: ua-cam.com/video/rDmoKvhCw6k/v-deo.html
check out FSMONE RSP. you can invest in S&P500 and they will deduct an amount you set aside monthly. easiest way to retire comfortably
Hi Kelvin! I'm 25 years old this year and my plans are
Hosp plan - $540 P.A.
CI Plan - $1747 P.A.
Accident plan - $365 P.A.
Is it too expensive for my age as it would be $220 per month.
And I check with my insurance agent mine is counted as term life, Is it counted as term life?
Oh, mine is also around there, i think its considered cheap already. The ci price looks like term life to me, yr agent says its term life, should be term life i guess
I guess what you have are AIA insurance plan. Hospital Plan is under Private Hospital and what you are paying is Rider’s premium. CI Plan that you mentioned could be a pure CI or Term Life Plan which includes CI. Accident Plan is Solitaire PA Plan 2 and there is a lower one which is Plan 1. Bear in mind there are premium adjustment on Hospital Plan and Accident Plan. One of the reasons is GST adjustment this year. If you really can’t afford $220 per month, downgrade on Hospital Plan and Accident Plan is one option but I personally do not encourage this. Take note that Hospital Plan premium will only increase every few years (regardless of insurance company), and it is advisable to create your own “Medical Fund” so that you could afford and sustain your future premium.
What are your thoughts on medical cards?
Medical cards is only for the low income group is it? If that's the case, should get it if can't afford insurance
What if I already have an ILP?
If you feel it is a good insurance plan, then keep it. If you want to cancel, just cut your losses and quickly move on
Hi is there any insurance for IUI treatment
I'm unsure, check with your insurance agent and see?
Good video as always. Anyways is it more worth it to have 2 separate critical illness and personal accident plans instead of one life insurance plan if u do not plan to have children?
essential plans would be CI and PA.
Get integrated plan because payout between medishield life and IP is a lot.
Hello Kelvin. Thanks for the information! do you play dota as well? haha
Used to :D
Why great eastern so much cheaper?
Actually the pricing about the same as other companies
Life is a box of chocholats...lmao
I guess we all need insurance, but must not overbuy
What is the ideal insurance policy at the age of 60s ?
What is it you getting for
can try legacy planning!
There is critical illness and early critical illnesses. I know critical illness is important.Do we still need early critical illness plan or both. Cas early CI is not cheap. Where is the cheaper early CI plan. Thank you so much
I am getting both haha cos im kiasi. I dont really know which is cheapest though, but if u need my agents contacts can pm me for it.
Hi can i get your agent contact?
May I get your agent's contact please
Food poisoning can be claimed under Personal Accident plan ......
Wow, great to know that
Are we wasting our money if we are already covered insurance bought by our company?
Not really. Company's insurance have very limited coverage. And eventually we will leave our company also.
came here for the advice, stayed for the memes
Hahaha, thankss
🔺Hi Kelvin, I cannot find the link or contact to your recommended insurance agent in the description box. I hv been looking for a gd & reliable insurance agent for a very very long time. I wld really really appreciate it very much if you will kindly provide me the contact for the Insurance Agent that you mentioned in your video. I really hope you will reply to this request. Thank you very much.
Should i stop the saving plan from prudential after near 10 years of paying? 100+/mth
Hm, what's the penalty?
You look like one of my nerdy friend
Haha.. i would like to see my twin someday
Sadly enough, my religion doesn't allow to have insurance
Sorry for sounding nosey but it's the first time I heard of religion not allowing insurance. It's interesting to know. May I know what religion is that?
@@twinkieshan Islam
@@Nouveau0 Thanks for sharing! I really didn't know that, shall google it. :)
Kelvin, would suggest u to google directly to MUIS website, there is a fatwa about insurance for many Singaporean Muslims, in need of insurance, but do not know if they can get it.
www.muis.gov.sg/officeofthemufti/Fatwa/English-Revocable-Insurance-Nomination
helmihakim.com/insurance/is-there-such-thing-as-halal-insurance-in-singapore/