QUOTE(cherroy @ May 20 2019, 08:36 AM)
2) Not such thing of "securing lower premium" at young age.
For medical,
You paid lower premium when you are 26, and will pay a more higher revised premium when you are 30+, and another more higher revised premium again at 40+, the premium will keep on adjusting upwards when you are aging.
Personal medical insurance is entitled for 3K relief.
If no one is depending heavily on your income, then life insurance is secondary important, probably medical and CI become more important.
Do remember to check medical policy coverage, as medical insurance may not applicable or can be used at overseas hospital, depended on where, as some do cover Singapore.
If at overseas, then you may need particular country medical insurance, not buy from here.
QUOTE(lifebalance @ May 20 2019, 11:50 AM)
If you intend to change job, chances are your company insurance won't stick for long.
The thing with personal insurance is that it doesn't depend on your company to provide you the insurance and you need not worry about being not insurable in the event you get pre-existing illness which your company will eventually lay you off if you are unable to perform your job.
as for tax relief, medical / education is under the same section claimable for the 3000 relief.
With regards to what decent ILP, you can consider Great Eastern, AIA, Prudential as the top 3 companies.
Choose the right agent is important.
Thanks for the feedback! I was aware of the relief, that's why i mentioned being skeptical of agents as some of them don't really know their stuff, and i don't know enough stuff to judge weather they know their stuff or not.
In this case the only draw for me to purchase a plan currently vs a later time is 1. Tax relief, 2. Being insured against illness that I may face and be exempted from insurance later on right?
I do have some questions though
1.How often is an insurance premium revised
2. If i were to have insurance now locally, i wouldnt be insured if i relocated overseas unless i get the specific rider plans, and if i don't, i'll have to cancel and come back and reevaluate the coverage again for pre-existing illness right? then my 2nd reason for getting insured is voided?
3. If my current organization's benefits are sufficient for me in medical and life since I have no dependent, and the next one isn't, it would be as simple as buying later right?
May 20 2019, 01:18 AM
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