Oct 26
careshield life supplement family  

ElderShield just got a big and amazing upgrade! It’s now got a new name with better benefits and better coverage called CareShield Life.

 

Read on to find out what this new insurance scheme is all about!

 

 

Sep 30
SRS blog bulb  

By all accounts, the Singapore income tax rate is relatively low. However, there is a way to reduce your tax bill even further!

 

The Supplementary Retirement Scheme (“SRS”) is a scheme that all Singapore residents can make contributions to. Monies deposited into the SRS will immediately reduce your tax bill and the investment income earned from these funds are also tax-free. There is a maximum amount that you can contribute to this fund every year though. The maximum is currently S$15,300 for Singaporeans/ PR and S$35,700 for foreigners.

 

 

Apr 05
travel insurance blog cherry blossom  

One of the most famous attractions in Japan is perhaps its sakura cherry blossom trees. As part of an important cultural purpose in Japan, the cherry blossom is quite symbolic and iconic. Every year, tourists flock to Japan during the Sakura season to get a close feel of these cherry blossoms.


As cherry blossoms only bloom in Spring, if you are planning to visit Japan and see the cherry blossoms up close, you have to do so when it is cherry blossom season. Here’s how you can kill two birds with one stone on your trip to Japan.

 

 

Mar 20
Pet Insurance: Is It Worth It  

Anyone, who has a pet, at some point must have thought about getting pet insurance. While looking after a pet is not a hard task, it’s taking care of the pet’s medical needs that might put a dent in your pocket. Some people say medical care for pets cost more than people’s medical care. It is true, in some cases. Other than covering the medical costs of your pet, pet insurance also offers to cover for third-party liability claims for damages your pet has inflicted on others or their properties and even theft. If you are a new pet owner or a long time pet owner and are wondering whether pet insurance is worth it, here’s what you need to know.

 

 

Feb 21
travel insurance blog hongkong market  

You can’t visit Hong Kong and not spend some time at the many markets there. Markets are great spots for shopping and tasting local food. You can find a variety of products at these markets-things you need and things that you never knew existed.

 

If you are planning a visit soon to Hong Kong, be sure to equip yourself with the right travel insurance policy before you set out on your travels. InsureDIY has made it easy for anyone to purchase a travel policy before their travels. Get a free quote now and get the right travel policy in 3 minutes. Here are the 10 best markets to visit in Hong Kong.

 

 

Feb 21
travel insurance blog hanoi  

Vietnam, as a country, is a beautiful and serene place to visit. Hanoi, one of its most popular cities, is a gem on its own. With its authenticity still intact, any person can draw so much inspiration from Hanoi. The area, the food, the people, the sky and the life are all Hanoi’s most attractive features.

 

 

Feb 21
travel insurance blog bangkok  

Thailand is one of the most happening and visited countries in Asia. It is on the list of many tourists as the IT place to go to if they are looking forward to great food, shopping and experiencing the cultural heritage of Thailand. Due to the shaky political situation in Thailand, it is best to land there prepared with all the things you need in case something goes wrong. By signing up for a travel insurance, you will be protected against the mishaps of travelling, which include baggage loss, flight delays, medical emergencies, and so on. For the latest promotion on travel insurance, please click here.

 

 

Feb 21
What Are The Information You Need To Get A Motor Quote Online?  

Are you interested in buying a new car soon? One of the steps to make sure your newly purchased car is ready to hit the road is to get your motor insurance in order. In Singapore, it is compulsory for every vehicle owner to purchase a motor insurance before driving the vehicle.

 

To get started, instead of going to a host of individual insurance companies online and putting in your details multiple times to get a quote, use InsureDIY to simplify the process. It will take you only a couple of minutes and you will get to view the best offers from motor insurers in Singapore.

 

 

Jan 22
domestic helper insurance blog know  

Approximately five weeks before your domestic helper’s work permit is due for renewal, you will receive a letter from the Ministry of Manpower (“MOM”) Work Permit Department. The process for renewing your domestic helper’s work permit should take around one to two weeks.

 

To ensure that you are able to avoid any unforeseen issues with the work permit renewal, we would recommend that you target to complete the whole process at least two to three weeks before the work permit itself expires. This will help you avoid any potential issues that could arise with the immigration department from your helper overstaying a work permit’s validity!

 

 

Jan 15
travel insurance blog wallet lost  

Travelling abroad is quite exciting and can become an eye-opening journey in many ways. What can also happen is going through situations you’ve never thought of, such as having your belongings stolen or lost. When this type of situation happens unexpectedly to you abroad, you might find yourself confused on what to do next. Wherever you go, it is important to remain vigilant and remember that nowhere on earth is safe.

 

 

 

Jan 15
travel insurance blog calendar  

The best thing about starting the new year is to find out the long weekends that you are going to get. Long weekends are something that you can look forward to and by getting to know in advance, you will be able to plan ahead. Excitement builds up when youknow where you get to spend these long weekends and whether it is possible for you to go out of town for a short vacation. If it is not a long weekend, you can always take leave a day before the public holiday or a day after to further maximise your off-time work. The earlier you plan your leave days, the better and longer your weekends will be in 2019.

 

 

Jan 15
travel insurance blog skiing  

When we think of snow and skiing, we think of European countries in the winter. These days, you don’t have to go this far to enjoy snow and skiing. You can just go to other places in Asia where it is cold enough in the winter that it snows. After all, not everyone can afford to go to Europe for their winter holidays. Japan and Korea are quite popular places for Singaporeans, who want to go for a winter vacation. Ski resorts are available with lessons on how to ski and many other activities. Here are the ways to plan a great ski vacation.

 

 

Jan 15
travel insurance blog flight  

Everyone loves a good deal! If you are an avid traveller or a new traveller, getting a good deal on your flight tickets will save you money. It’s money that you get to spend on other things later on while you are on holiday.

 

The best way to get good deals is to search everywhere. It doesn’t matter if it’s offline or online, there are some really good deals out there that you can take advantage of. Before you set out on your trip, remember to sign up for a travel policy as soon as you have booked your flight. If you are trying to look for the best flight deal in town, here are the ways you can do it.

 

 

Jan 04
domestic helper insurance blog maid include 2  

When you decide to hire a domestic helper, there are a few compulsory requirements that have been set by the Ministry of Manpower (“MOM”) in Singapore.

 

As an employer of a domestic helper, it is mandatory to purchase a maid insurance in Singapore for your domestic helper that consists of at least S$60,000 in personal accident coverage, S$15,000 in medical coverage and includes the MOM Security Bond of S$5,000 (learn more about the MOM Security Bond here.

 

A maid insurance can offer comprehensive coverage for domestic helpers in Singapore. If this is your first time buying maid insurance and you will like to be more aware of the coverage a maid insurance policy would provide, here are the three areas of coverage that you should not overlook.

 

 

Jan 03
domestic helper insurance blog security bond  

MOM minimum requirements on foreign domestic maid insurance coverage

 

The Ministry of Manpower (“MOM”) in Singapore requires you, as the employer of a domestic helper to purchase a basic insurance coverage that consists of:

 

Personal Accident: minimum sum assured of at least $60,000

 

Medical insurance coverage: at least $15,000

 

MOM Security bond: $5,000

 

 

Jan 02
travel blog jetlag  

While travelling can seem fun at times, it can also become extremely tiring, especially if you are going on a long-haul flight. After sitting in an airplane for a really long time, which might seem like eternity at that moment, you are bound to suffer from jet lag. Along with jet lag, comes fatigue and extreme exhaustion. If you are travelling for business, there is not really the time you can afford to rest so that you can recover. You will need to find a way to get rid of the jet lag so that you can go about your busy schedule. Before you planned your long flight, make sure to sign up for a proper travel insurance. InsureDIY features some of the best travel insurance deals you will find online. If you are looking for ways to beat jet lag after a long-haul flight, here’s how you can do it.

 

 

Dec 28
travel blog yoga  

Yoga is a great way to relax your mind, body and soul. If you have been busy working and have been so preoccupied with life, getting away on a short yoga weekend trip is a great idea. The best time would be to get away when the weekends are long in Singapore, especially if there is a public holiday on either a Friday or a Monday or both. Wellness retreats have been the IT thing lately and a lot of these fancy retreats are located in Asia. But, where exactly can you go to get a much needed peace of mind? Let’s find out.

 

 

Dec 21
travel blog automatic extension  

A travel insurance policy acts as a security blanket for travellers. The value of a travel policy is felt when something unfortunate happens to you while travelling. Whether you are travelling for business or leisure, travel insurance policies are designed to give you coverage from the time you leave home to the time you get home.

 

Signing up for a travel insurance policy will get you protection for the period of time that you will be travelling. However, what happens if you come across unforeseen circumstances that prevent you from returning home before your travel policy ends? You end up paying for the expenses incurred because your policy period has ended, which means that you are no longer protected by your travel insurer. This is why you should make sure your policy includes an automatic extension of coverage.

 

 

Dec 20
Seoul, South Korea.  

Seoul is quite a famous city and this is partly due to the beautiful visuals that South Korean TV dramas have brought to Singapore. The craze for everything South Korean has grown for the past ten years and has still been growing. Seoul is the largest city of South Korea that includes the famous Incheon. There are many reasons why Seoul should be on your must-visit places list. Here is why you should considering making a trip to Seoul as one of your year-end destinations.

 

 

Dec 20
Bali, Indonesia (Photo by Gede Wirahadi Pradnyana on Unsplash)  

Indonesia is a big country with many interesting places to see. What makes visiting this country even more adventurous is through island hopping. Island hopping is a fun way of experimenting many islands and discovering the most interesting things about them. Since there are more than 18,000 islands in Indonesia, it is not possible to visit all islands at once.  Your itinerary depends on how many people will be going on this trip with you and the budget set aside for island hopping.

 

 

Dec 16
What are the 5 things to consider before renewing your COE?  

There are different types of life insurance in Singapore. If you feel that now is the time for you to purchase a life insurance policy, you need to know exactly what you are looking for. In Singapore, life insurance can be broadly grouped into: Term Insurance, Whole Life Insurance, Endowment Insurance, and Investment-Linked Policies.

 

If you are interested to learn more about Life Insurance in Singapore, do not hesitate to contact InsureDIY at sg_service@insurediy.com.

 

 

Dec 16
What are the 5 things to consider before renewing your COE?  

It is common knowledge that in Singapore after five years or ten years, a vehicle’s COE needs to be renewed. If renewing your COE is on your mind, here are the things to consider.

 

 

Oct 30
Term Life Insurance or Whole Life Insurance on a budget  

The life insurance market has a variety of plans and policies that can make any new customer confused. Term life insurance and whole life insurance provide the same purposes of providing life insurance coverage, but these two products are structured very differently.

 

Did you know that for the same amount of sum assured, it is possible to pay a much lower premium if you choose term insurance over whole life insurance? For a 30-year-old non-smoking male, he will pay an annual premium of around $200 for 34 years under a term policy (protection till age 65) versus $2000+ for 39 years under a whole life policy (protection till age 70). By understanding how the two products are structured and the benefits they provide, you can end up in a better position to make an informed decision.

 

 

Oct 29
7 Good Things About Term Insurance  

Term insurance offers coverage for a fixed period of time starting from a minimum of 5 years to a maximum of 30 years, or you can also choose to obtain cover up to a certain age, for example cover up to 65 or 75 years of age Term insurance is perfect for people, who prefer to have some flexibility in the duration of their cover and in is getting protection for a certain number of years based solely on their needs. Term insurance policy can be very comprehensive in protection, with enhanced covers provided in the form of riders, riders act as additional benefits that the life assured can choose to add to the policy. If you are thinking of signing up for term insurance, here are the attractive features that can help you decide.

 

 

Oct 28
Getting a Car For Your Family  

Once you have a family, you will realise that owning a car is a necessity in Singapore. It can help to save time when travelling and at the same time, boost productivity because you are more in control than if you were to travel by public transport. While all these make the idea of owning a car look really attractive, there are some important things that you need to know before buying your first car in Singapore. Things that you probably had no clue about, such as COE prices, road tax fee and the right insurance premium for the vehicle.

 

 

 

Oct 27
Get Your First Second-Hand Car With These 7 Easy Steps  

While buying a new car sounds appealing, it is not something that everyone can afford. It is why many people prefer to buy a used car in Singapore, especially when you can get a high-end vehicle for less than $20,000. Based on the LTA figures, about 9,000 vehicles change ownerships per month. If you are thinking of getting a second-hand car, here are the steps that can help you get the car easily.

 

 

Oct 11
Reviewing Your Motor Insurance Cover Before Renewing Your Policy  

Motor insurance is mandatory in Singapore for every vehicle on the road. If your car insurance policy is due to renewal soon, it is well worth reviewing the benefits of your cover before going ahead with the renewal.

 

By now, you would have had your motor insurance for at least one year and should have a better understanding on the benefits that you as a driver and your car will need.

 

 

Oct 04
9 things to know before you get your first car  

While buying a car in Singapore does not come cheap, it can certainly make your life easier, especially if you have a family. Even with an 8-year low COE (Certificate of Entitlement), getting a car comes with a lot of financial responsibilities. You have to spend money on the right documents and licences before you get the car at your disposal. Then after you already have the car, you have to spend on parking costs, maintenance and a variety of other expenses. If you are about to step out and get your first car in Singapore, here are the most important things to know.

 

 

Sep 27
What are the hottest destinations for 2019 Singapore holidays?  

Since there are not that many long weekends in Singapore, you have to take the opportunity of every long weekend to enjoy yourself by going on holiday or for a short vacation. The possibilities for the hottest destinations that you can look forward to are endless. Still, you have to make sure that you are ready in advance with your holiday plans as soon as your vacation time comes or as soon as there’s a long weekend in Singapore. 

 

Some people like to travel whenever there is a public holiday that coincidentally falls on a Thursday or Friday. It would be foolish to not try and take advantage of any long weekend happening in Singapore.

 

 

Jun 05
car insurance renewal SG blog  

Is your car insurance expiring soon? Are you looking for renewal and also the best price on renewal?

 

We are outlining items you should note before your renewal, so that you can take advantage of the biggest discounted price in town and renew with the lowest premium.

 

 

May 06
mothers term insurance SG  

Happy Mother’s Day! Is this your first Mother’s Day with your little baby? You must have changed a lot since the last Mother’s Day. Your life today is surely more chaotic, stressful and tiring, but at the same time, sweeter and more contented than before your baby was born.

 

Your little one could still be too young to say thank you, but it’s a good time as ever for you to give yourself a good rest and plan for yourself on Mother’s Day.

 

 

May 04
term insurance protection  

The biggest misconception about term insurance is “it doesn’t worth the money as you cannot get back what you’ve paid”.

 

Let us speak up today for the best value-for-money life insurance in the world and make sure you, your friend and those who read this benefit from it.

 

 

Mar 20
car insurance blog  

Planning to purchase or renew your car insurance policy?

 

Here are the top 10 things that you would need to know about car insurance.

 

 

Mar 16
car insurance claim  

No matter how careful a driver you are, you can never be 100% sure you would not run into an accident on the roads. As drivers, we know there are too many uncontrollable factors.

 

That is why you need car insurance to protect you and your family.

 

 

Mar 05
ncd protector insurance  

There is research done that proves that there is co-relation between your driving style and your personality.

 

In most motor insurance company’ eyes (sadly), “the safest drivers win us all”. Why is that?

 

 

Nov 06
best protection travel blog  

Can you believe it? This is actually happening!

 

The third world war...?

 

 

 

Sep 29
Annual Travel Insurance Plan SGB  

Take more than four overseas trips per year?

 

Buying Annual Travel Insurance will the best thing that has happened to you! 

 

 

 

Aug 30
AF blog  

 

WIN A ONE YEAR FREE ANYTIME FITNESS GYM MEMBERSHIP WORTH S$1,176 IN SG, MY & HK! ONE PRIZE FOR EACH COUNTRY TO BE WON! 

 

 

Jul 20
domestic helper blog01  

 

Get the Top 4 Points to note on the new Insurance Requirements for your Helper which will be enforced from 1 Oct 2017.

 

 

Jun 27
travel insurace hacks  

Ever wondered what’s the best way to save on airplane tickets on non-budget airlines?

 

Get the Top 10 Picks of Travel Hacks from InsureDIY now that will help you and your loved ones fly smarter and travel better.

 

 

Jun 09
travel insurance singapore  

1. Leaving your passport in a taxi?

 

2. Missing a Michelin starred restaurant reservation due to flight delay?

 

3. Breaking your ankle during a hike?

 

4. Forgetting to get your travel insurance?

 

 

May 25
travel blog tokyo  

Been to the top touristic spots and looking for something extraordinary?

 

Let us explore these Top 5 Must Visit Unconventional Restaurants in Tokyo!

 

Are you ready? 

 

 

Apr 24
travel insurance 03 1  

We will finish off this topic with this question:

What is the purpose of your trip? 

 

Here are the previous related articles:

 

How do I recognize the right travel insurance plan for me? (I)

 

How do I recognize the right travel insurance plan for me? (II)

 

 

Apr 03
travel insurance 02  

If you wish to see the first part of this topic, you may click into How do I recognize the right travel insurance plan for me? (I)

 

Let’s go back to our questions to help identify your needs and decide on the most suitable travel insurance plan for you.

 

 

Mar 20
travel insurance blogSG 2  

Have you heard of our comparison table yet?

 

Not sure?

 

You can read our previous blog Is there a so-called "The Best Travel Insurance Plan"? to understand how our amazing comparison table works for you, or you can simply click here to derive your own comparison table now.

 

Is that all? Definitely not.

 
Mar 11
travel insurance blogSG 1  

Well, we have the best plan in mind, but it may not be the one that suits you.

 

The best travel insurance is the one that is suitable for you and where you are going.

 

We understand the most common needs of our customers when looking for travel insurance and have summed them up into 6 plans for the convenience of servicing you 24/7 online.

 

Aug 05

 

Travel-insurance-3 

 

It’s higher than you think …

 

Ever wonder what are your chances of losing your luggage when you are travelling on your holidays?  Or maybe you were asking yourself if it was really worth it to buy Travel Insurance to cover lost baggage?

 

Well, the statistics collated by the global airline industry technology specialist, SITA will surprise you.     

 

Look around you the next time you are at the airport departure gate.

 

If you are in Asia, chances are 1 person on the same flight as you will find his luggage “mishandled” on either one of his leg of his journey i.e. either on this flight or his return flight.  The term “mishandled” covers luggage delayed, lost, stolen, damaged or have contents taken from them.  

 

In Europe, the chances increase five-fold! In Europe, 5 persons on the same flight as you will find his luggage mishandled.    

 

The odds are a little better in North America, only 2 persons on the same flight as you may experience problems with the baggage on either one leg of his journey.

 

In short, on average in the world, two persons on every flight flown will have his baggage mishandled!

 

So what can travellers like us do? 

 

You can consider buying a Travel Insurance that will cover the loss of luggage.  If your baggage gets damage, stolen, or lost, your Travel Insurance will cover the cost of the content, subject to certain conditions listed in your policy.  This coverage will go a long way towards covering the costs of replacement of your personal belongings, especially if you add in the compensation you will receive from your airline.  But do remember to report the incident to the airline representatives as soon as you discover the problem and get a written acknowledgement to help you process your claim in the future.  

 

If your baggage is delayed, Insurers will pay you a cash benefit per x numbers of hour blocks (this may vary from policy to policy) or reimburse you for the purchase of certain necessities. 

 

So next time before you travel, do remember to buy a Travel Insurance policy.  

 

InsureDIY Pte Ltd Compare Travel Insurance Products, Buy Online and Get Rewarded.       travel-insurance-buy

  

Jun 01

There are 3 simple steps to the online application process:  

1>  Enter your details

2>  Compare

3>  Buy! 

 

After the online process, we will contact you to re-confirm your application and to arrange for you to sign the application form. The policy is issued only after the insurer has reviewed the application and confirmed acceptance of the policy. Medical examinations may be required, click here to learn more on medical examinations. As your broker, we will follow up with the insurer on your case and update you on the progress. 

 

簡單3個步驟完成網上申請:

1>  填妥簡單表格

2>  比較

3>  購買! 

 

網上程序結束後,我們會聯絡您以再次確認您的申請,並安排您於申請表上簽名為實。經保險公司覆核申請及接受投保後,我們會正式開發您的保單。保險公司有機會要求投保人進行驗身,點擊這裡了解更多驗身需知。作為您的經紀,我們會就您的個案向您投保的公司作出跟進,並匯報進度。

The products that we sell are full featured products where you can choose very high sum assureds. For high sum assureds, you may be asked to go for a medical examination. For lower sums assured, only a declaration on the application is needed. The non-medical limits are different for the different insurers.

This is the same process that you would have to go through if you buy the policy through an insurance agent.

我們銷售的保險產品涵蓋的範疇全面,您可以因應自己的需要選擇不同幅度的保障及保額。如果您購買的是保額高的計劃, 保險公司通常會要求您進行驗身;相反,保額低的計劃,投保人只需要於申請時作出申報便可。要注意的是不同保險公司的免驗身門檻亦不盡相同。

 

這項程序跟您透過保險經紀購買的情況相同。

Start with our Get Quotes process to see the top picks from each insurer on our panel. If you don’t see the benefits or sum assured amount that you want, email us at customer_service@insurediy.com. We can customise any combination of benefits / coverage amount for you from the products offered by our insurance panel.

 

Our Top Picks
Our top picks have been selected by our advisers as products that give the best value for that combination of benefits. The key selling features are highlighted at the top of the comparison table.
[Show sample]

 

Don’t see the combination you want?
InsureDIY is a licensed broker with all the insurer on our panel. This means that we can give you advice and help you get the product combination that you want. Just contact us at customer_service@insurediy.com. 

 

您可以進入報價程序,逐一查看我們根據您輸入的條件篩選來自不同保險公司的計劃。如果您未能找到所需的保障或者保額,請直接電郵customer_service@insurediy.com。我們能夠為您度身訂造有關保險公司提供的任何保障或者保額的計劃。

 

首選推薦

首選推薦產品是經過我們的專業團隊評估,綜合各方面擁有最多優勢,整體而言,最值得購買的產品。另外,每項產品的特點亦會顯示於比較表的上方,方便用戶客觀評估。

 

沒有找到您需要的組合?

InsureDIY是註冊經紀,與各大保險公司是緊密的合作伙伴。 我們能夠向用戶提供客觀的意見,幫助用戶找到所需要的產品組合。請直接電郵customer_service@insurediy.com。

We guarantee that our price is the lowest. If you find the same Term Insurance online at a lower price within 21 days of your purchase online, we will cancel the policy, refund you the premiums and give you HK$100 cash. That is our InsureDIY lowest price guarantee*, so why wait? Buy now!

 

For every Term Insurance bought, we will give you back up to 15% of your first year premium back in DIY Reward points. So every HK$ 100 of first year premiums paid for Term Insurance policies, you can earn up to 15 DIY points*. This is HK$ 15 worth of rewards! See our Rewards Catalogue here.

 

最低價格保證

我們保證InsureDIY平台上的產品價格最低。假設您找到同樣的網上定期壽險,而價格比我們便宜;在購買保險計劃的21天內,我們可以為您取消計劃,退還保費,並額外補償現金HK$100,這就是InsureDIY的最低價格保證*。還等?現在就行動!

15%積分獎賞

每購買一份定期壽險,我們都會回贈您首年保費的15%作為獎賞積分,所以每港幣100元的首年壽險保費就等如15分 *,亦即價值港幣15元的獎賞。立即查看獎賞目錄

We have put together a great range of rewards for you! Each DIY point is equivalent to HK$1. See our Rewards Catalogue here

 

我們為您準備的獎賞種類繁多!以1分獎賞積分相等於HK$1計算,立即看看獎賞目錄,要換甚麼就換甚麼。

Should you or your family have a claim on the policy, contact us at customer_service@insurediy.com. At InsureDIY, we work as a team, so there is no worry that your adviser has left the company. We will guide you through the claims process including the documentation and forms needed and will follow up on your behalf with the insurer on your claims.

 

 

 

如果您或者您的家人需要就InsureDIY平台上所購買的保險計劃提出索償,請直接以電郵聯絡我們:customer_service@insurediy.com。InsureDIY是以團隊運作,毋需擔心您的保單因負責人離職而無人跟進。我們會全程協助您的索償,包括過程中所需的文件及索償表格,並代您向保險公司跟進您的索償。

May 24

medical-insurance-elderly 

 

We often get approached by clients who ask about what insurance policies their elderly parents should have. Usually, the clients have an idea that their parents should have some insurance coverage due to their advanced age, but are not too sure which product to buy.

 

The most basic product that you should consider is Medical Insurance. The product that you are looking for would cover hospital and surgical expenses, not simply pay out a fixed dollar per day when hospitalised.

 

The elderly are more prone to bone fractures from accidents such as falls and as everyone knows, are approaching the age where serious diseases may set in. To avoid large and unaffordable hospital bills, make sure that your parents are covered by a Medical Insurance that provides for the ward class that they would want to stay in and, of course, at a premium level that is affordable.

 

Here are 5 important points to look out for if you are thinking of getting Medical Insurance for your elderly parents:

Apr 02

travel insurance east       

 

Happy Easter to all our customers, family and friends!

 

Feb 04

 

insurance-checklist 

 

We usually get asked about Life Insurance when our customers have their first child. This is the time when couples start to seriously think about their responsibilities as a parent and to each other.

 

Many young parents know that they need insurance, but are not sure of which type to buy, so we have listed the 4 key types of insurance products that you should have as a young parent and why.

Jan 20

 

aia-um 

 

 

Term Insurance, or sometimes commonly known as Life Insurance, is a simple product that provides a lump sum benefit if the insured passes away. Many are familiar with Life Insurance, but most are not sure when they need to buy it.

 

 

So when should you buy your Life Insurance policy?

 

Many people mistakenly believe that they should buy Life Insurance when they are older.  They think that since they are younger, they are healthier and less likely to pass away.  But this is the exact opposite of what they should do!

 

Lower premiums when you are younger

 

When you are younger, the premiums will be cheaper and you are likely to get the standard rates. When you are older, your health deteriorates. So not only do you pay higher premiums due to your older age, you may have to pay an additional premium (also known as loading) due to your health, or in the worst case, be rejected by the insurer altogether.

 

For example, AIA's 20 year Life Insurance policy with a $1,000,000 coverage will cost a 30 year old HK$ 150 a month in premiums, whereas a 45 year old will have to pay HK$ 450 a month, 3 times that of the 30 year old's rate!

 

More vulnerable financially when you are younger

 

The most financially vulnerable time for your family, is when you are younger and do not have sufficient wealth for your loved ones should you pass away.                               

 

As you get older, you will also accumulate your wealth, pay off your mortgage and your children will become more independent. Over time, there is less need for Life Insurance to cover the shortfall in funds to support your loved ones. However, this is likely to be towards your retirement age if you have children. Therefore, the need for insurance should be lesser as you get older and more when you are younger. 

 

In conclusion, people should be buying insurance when they are younger, rather than when they are older.  

 

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AIA

Jan 11

 

Life-insurance-heartsm 

 

Term Insurance, or sometimes commonly known as Life Insurance, is a simple product that provides a lump sum benefit if the insured passes away. As simple as the product may seem, there are a number of questions that you should think through before buying a Life Insurance policy.

 

Here are the top 5 questions that we get asked about Life Insurance:

 

1) Who am I buying my Life Insurance for?

 

There is always some confusion over who the Life Insurance policy is for. Unlike other products, the people who benefit from the Life Insurance policy that you buy will be your family and loved ones.

 

Buy Life Insurance when you wish to leave a lump sum amount to your loved ones or if you wish to pay off some debts should you pass away.

 

2) How much Life Insurance should I buy?

 

If you are buying Life Insurance to support your loved ones, then you would need to think about how much money they will need to maintain the same lifestyle. Also factor in how long you think your loved ones need to be supported.

 

Don’t forget big-ticket items such as your outstanding mortgage, your children’s education as well as any other debt that would need to be paid.

 

If the benefit from the Life Insurance policy is supposed to support your spouse or elderly parents, you may also want to factor in the cost of healthcare.

 

You can use our Life Insurance Calculator to carry out a simple analysis of how much Life Insurance you should buy.

 

3) Which insurer should I buy my policy from?

 

Life Insurance is a long-term product, you would want to buy your policy from an insurer that will be there to pay the claims for as long as your policy is active. This could be 15 or 20 years from the time that you buy the policy.

 

Check that the company is in a strong financial position e.g. having a high rating by a rating agency and certainly, make sure that you are buying a policy from an insurance company licensed by a regulator that you are comfortable with.

 

4) Do I need additional Life Insurance on top of my Group Insurance?

 

In most cases, it would be advisable to buy your own insurance coverage.

 

Group Insurance provided by your company is usually limited to a fairly low multiple of your salary. This is not enough to provide for your loved ones who are financially dependent on you.

 

If you leave your job, you could be left with no insurance coverage. Even worse, you may be older at that point and may not be able to buy insurance coverage even if you wanted to.

 

5) Are the premium rates guaranteed?

 

Some Life Insurance policies do guarantee a flat premium rate throughout the policy term, while other policies may offer lower premium rates initially, but will have future premium rates increasing by age that are not guaranteed at pre-determined amounts. Note that policies with premium rates that are not guaranteed in the future may still guarantee the renewal of your policy, subject to you paying the rate that is applicable for your age at that time.

 

When comparing Life Insurance products on our website, look out for “Premium Guarantee Period” in the comparison table. The information will explain how long the rate that you see is guaranteed for during the policy.

 

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Jan 01

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Happy New Year to all our customers, family and friends. Have a great 2015!