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Actived: Wednesday Jan 20, 2021

URL: https://www.moneysense.gov.sg/

Insurance - MoneySense

Details: Insurance protects you, your family and things you value from financial loss. Learn how insurance works, what to look out for, and why you should compare first before buying. Guides 23 Oct 2018 Assessing your insurance needs. Guides 05 Nov 2018. Understanding life insurance.

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› Url: https://www.moneysense.gov.sg/insurance Go Now

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Insurance basics - MoneySense

Details: Insurance is meant to protect you, your family and things you care about. The insurance you buy depends not only on what you want to protect but also what you can afford. Some insurance policies are must-haves. You can’t drive without car insurance or get a mortgage without fire insurance in most cases.

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› Url: https://www.moneysense.gov.sg/articles/2018/11/insurance-basics Go Now

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Understanding insurance - MoneySense

Details: Understanding insurance Insurance can be a safeguard against financial loss. Get an overview on the types of insurance and understand the difference between life, health and general insurance.

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› Url: https://www.moneysense.gov.sg/starter-packs/understanding-insurance Go Now

› Get more:  Life,  HealthGo Now

Understanding health insurance - MoneySense

Details: Health insurance helps pay for health care costs in the event of an injury, illness or disability. All Singaporeans are covered under MediShield Life, a basic government health plan to cover large medical expenses. Apart from medical expense insurance, there are other types of health insurance plans.

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› Url: https://www.moneysense.gov.sg/articles/2018/11/understanding-health-insurance Go Now

› Get more:  Medical,  Life,  HealthGo Now

Understanding life insurance - MoneySense

Details: Singapore Deposit Insurance Corporation (SDIC) provides protection for guaranteed benefits of life insurance policies, subject to applicable limits. For example, individual life and voluntary group life policies, there is a limit of S$500,000 for the guaranteed sum assured and S$100,000 for the guaranteed surrender value per life assured per

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› Url: https://www.moneysense.gov.sg/articles/2018/11/understanding-life-insurance Go Now

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Understanding term insurance - MoneySense

Details: What is term insurance? Term insurance is life insurance that provides insurance coverage only for a fixed period of time. An example of term insurance is the Dependants' Protection Scheme.. Buy term insurance if you only need protection coverage for a fixed period of time.

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› Url: https://www.moneysense.gov.sg/articles/2018/11/understanding-term-insurance Go Now

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Introduction to general insurance - MoneySense

Details: General insurance products may be sold by general insurance agents or broking staff of insurance brokers. Before acting as an insurance agent for distributing general insurance products, the person or company must register with the Agents Registration Board (ARB), which is under the General Insurance Association (GIA) of Singapore.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/introduction-to-general-insurance Go Now

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Understanding deposit insurance - MoneySense

Details: Currently, the Deposit Insurance Scheme protects non-bank depositors (individuals, charities, sole proprietorships, partnerships, companies, and unincorporated entities) by covering their SGD monies placed with a Scheme member, for up to $75,000 per depositor per Scheme member.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/understanding-deposit-insurance Go Now

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Interpreting your insurance documents - MoneySense

Details: Your insurance contract is an important legal document. Read carefully before you agree to the terms and conditions. Here is a guide to interpreting the common terms in your insurance document: Policy number and NRIC number – Insurance companies track your records through these numbers. There could be more than one person with the same name

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› Url: https://www.moneysense.gov.sg/articles/2018/10/interpreting-your-insurance-documents Go Now

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MoneySense

Details: Take out a car loan only if you can afford the monthly repayments, motor insurance, maintenance cost and are willing to accept the depreciation of the car's value. Relevant reads. Buying a car: Key costs to consider Understanding loans and credit. Starter packs.

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› Url: https://www.moneysense.gov.sg/ Go Now

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Assessing your insurance needs - MoneySense

Details: Medical expense insurance, e.g. MediShield Life (compulsory for Singapore Citizens and PRs), Integrated Shield Plans, other hospital and medical plans and riders. The main medical expense insurance plans pay a portion of hospital and surgical costs if you're ill or suffering from injuries due to an accident.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/assessing-your-insurance-needs Go Now

› Get more:  Medical,  LifeGo Now

Buying Direct Purchase Insurance - MoneySense

Details: What is Direct Purchase Insurance (DPI)? Direct Purchase Insurance (DPI) are term and whole life insurance products that you can buy directly from a life insurance company, without paying a financial advisory (FA) representative. As DPI is sold without financial advice, no commission is charged, and you pay lower premiums as a result.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/buying-direct-purchase-insurance Go Now

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Buying life insurance online - MoneySense

Details: Buying life insurance usually involves talking to a financial advisory (FA) representative.Before recommending you a suitable life insurance product, your FA representative will undertake a financial needs analysis with you to:. Understand your insurance objectives

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› Url: https://www.moneysense.gov.sg/articles/2018/11/buying-life-insurance-online Go Now

› Get more:  LifeGo Now

Understanding endowment insurance - MoneySense

Details: What is endowment insurance? Endowment insurance products are often marketed as a savings plan to help you meet a specific financial goal, such as paying for your children’s education, or building up a pool of savings over a fixed term.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/understanding-endowment-insurance Go Now

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Direct Purchase Insurance - MoneySense

Details: DPI might be for you if you know which type of insurance you need and how much coverage you need, and you don't require any financial advice for your purchase. See also: Buying direct purchase insurance. You might also like. Guides 05 Nov 2018 What to ask before buying life insurance.

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› Url: https://www.moneysense.gov.sg/articles/2015/4/direct-purchase-insurance Go Now

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“I have problems paying my insurance premiums.”

Details: Deferring premium payments for life, health insurance. If your premiums for life and health insurance policies are due between 1 April 2020 and 31 March 2021, you may apply to your insurer to defer payments for up to six months, per policy.

› Verified 7 days ago

› Url: https://www.moneysense.gov.sg/financialresilience/problems-paying-my-insurance Go Now

› Get more:  Life,  HealthGo Now

Health insurance terms: Know what you're paying for

Details: Private insurance plans may have an age limit, and may not be available to you once you reach a certain age. Some health insurance policies provide cover for your whole life, while others cover for a fixed period or up to a certain age. Choose a product that suits your needs. Policy exclusions. MediShield Life is universal and has no exclusions.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/health-insurance-terms-know-what-youre-paying-for Go Now

› Get more:  Life,  HealthGo Now

Understanding hospital cash insurance - MoneySense

Details: A hospital cash insurance policy may have a waiting period, a defined period from the start of the policy during which benefits will not be paid under certain conditions. If you are hospitalised during this period, no benefits would be paid. Guide to types of health insurance.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/hospital-cash-insurance Go Now

› Get more:  HealthGo Now

Guide to types of life insurance - MoneySense

Details: With so many types of life insurance out there, choosing one that matches your needs can be daunting. Some offer pure protection, while others have a protection and investment component. In this starter pack, you'll get to know about different types of life insurance products and how they compare with the others, so you can select one that's

› Verified 7 days ago

› Url: https://www.moneysense.gov.sg/starter-packs/guide-to-types-of-life-insurance Go Now

› Get more:  LifeGo Now

Guide to types of health insurance - MoneySense

Details: Health insurance helps cushion you and your family from the financial impact of an accident, illness or disability. There are different types of health insurance plans to help lessen the financial burden during these times. Singaporeans and Permanent Residents are covered by MediShield Life, a basic medical insurance scheme.

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› Url: https://www.moneysense.gov.sg/starter-packs/guide-to-types-of-health-insurance Go Now

› Get more:  Medical,  Life,  HealthGo Now

Understanding whole life insurance - MoneySense

Details: Whole life insurance provides life-long protection. It is available in different forms, such as participating and non-participating policies. Participating whole life policies Participating whole life policies share in the profits of the company’s participating fund. Your share of the profit is paid in the form of bonuses or dividends to your

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› Url: https://www.moneysense.gov.sg/articles/2018/10/understanding-whole-life-insurance Go Now

› Get more:  LifeGo Now

Understanding Integrated Shield Plans

Details: Key takeaways. An Integrated Shield Plan (IP) is an optional health coverage provided by private insurance companies. Consider the coverage you need based on the hospital ward and choice of hospitals you want to stay in, or you'll end up paying more premiums than necessary.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/integrated-shield-plans Go Now

› Get more:  HealthGo Now

Understanding investment-linked insurance policies

Details: Insurance coverage charges. Insurance charges rise with age. Your units may not be enough to pay the charges. For regular premium ILPs, insurers may also increase the cost of insurance coverage, if there has been a sustained rise in claims. If so, any increase would be applied to an entire class of policies and not just to an individual policy.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/understanding-investment-linked-insurance-policies Go Now

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Financial Tools - MoneySense

Details: Financial Tools Here is a list of financial calculators which you could use to help you plan your financial goals.

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› Url: https://www.moneysense.gov.sg/financial-tools Go Now

› Get more:  Insurance QuotesGo Now

Understanding critical illness insurance

Details: Critical illness insurance pays a lump sum if you're diagnosed with a critical illness or after having undergone a type of surgery covered by the policy. Find out how it works and whether it is something you need. Key takeaways. Types of critical illnesses covered may vary from one insurer to another.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/critical-illness-insurance Go Now

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What to ask before buying life insurance

Details: What to ask before buying life insurance Policy terms, features, and benefits can be overwhelming, especially for someone new to buying insurance. Your FA representative must explain the features of the policy he or she recommended, and why it is suitable for you. Print and use this checklist before you sign on the dotted line. Ask yourself

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› Url: https://www.moneysense.gov.sg/articles/2018/11/what-to-ask-before-buying-life-insurance Go Now

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Financial Health Check

Details: The Financial Health Check’s content is specific to Singaporean Citizens and Permanent Residents, and may not apply to foreigners. Check out our library of articles for general financial planning information.

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› Url: https://www.moneysense.gov.sg/financial-health-check Go Now

› Get more:  HealthGo Now

Participating versus non-participating policies

Details: Buying a life insurance policy is a long-term commitment. Early termination usually involves high costs. The surrender value that is payable to you may be zero or less than the total premiums paid.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/participating-versus-non-participating-policies Go Now

› Get more:  LifeGo Now

Financial goals at different life stages

Details: Have adequate insurance coverage - As you now have more commitments, ensure that you and your dependants have adequate insurance coverage. Once you have laid strong financial foundations and settled on a stable budget, it's time to capitalise on your peaking earning power. You may have the capacity to set aside more for investments.

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› Url: https://www.moneysense.gov.sg/articles/2018/11/financial-goals-at-different-life-stages Go Now

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Resolving a dispute with a financial institution

Details: FIDReC is an independent and affordable avenue for resolving problems that cannot be settled directly with your FI. They resolve disputes relating to banking, insurance and capital market transactions. Check with FIDReC on the types of cases they can handle.

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› Url: https://www.moneysense.gov.sg/articles/2018/11/resolving-a-dispute-with-a-financial-institution Go Now

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Life insurance: Comparing term and bundled products

Details: Life insurance products fall under 2 broad categories: for protection only, and for protection and investment. For protection only Term insurance. Term insurance is the simplest protection product that is usually the most affordable. It provides insurance coverage for a fixed period. An example of term insurance is the Dependants' Protection

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› Url: https://www.moneysense.gov.sg/articles/2018/10/life-insurance-comparing-term-and-bundled-products Go Now

› Get more:  LifeGo Now

Understanding disability income insurance

Details: What is disability income insurance? Disability income insurance pays you for the loss of income due to an accident or illness. The policy helps to ease your financial loss, but will not completely replace your income before the accident or illness.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/disability-income-insurance Go Now

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Investment-linked versus participating life insurance policies

Details: Both investment-linked insurance policies (ILPs) and other life insurance policies with cash value, such as participating whole life and endowment policies, have investment components.. However, there are important differences between the two.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/investment-linked-versus-participating-life-insurance-policies Go Now

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Traded life policies and traded endowment policies

Details: In turn, the insurance company must pay out the benefits based on the terms in the policy contract to the investor when the policy matures or the insured passes on. The obligations of the intermediary towards the investor are set out in the contract when the TLP or TEP is purchased. Investors should read all the terms and conditions of any

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› Url: https://www.moneysense.gov.sg/articles/2018/10/traded-life-policies-and-traded-endowment-policies Go Now

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Investment-linked policies: Guide to fees and pricing

Details: Insurance coverage charges. Pays for death and other coverage provided for. Charges depend on factors, such as amount of coverage you want, age, gender and whether you smoke. Charges increase with age and are usually funded by the sale of units purchased with your premium. Fund management fees

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Understanding unit trusts - MoneySense

Details: Investment-linked insurance policies (ILPs) are another way to invest in funds. The difference between these and unit trusts is that ILPs combine life insurance coverage and investment components. Your premiums are used to pay for units in sub-funds of your choice, and some of the units are then sold to pay for insurance and other charges.

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Understanding annuities - MoneySense

Details: An annuity is a type of insurance policy that typically guarantees fixed payments at regular intervals (usually monthly), for as long as you live or for a fixed period of time. There are also participating annuity policies, which come with a non-guaranteed component that is dependent on the investment performance of an insurer's participating fund.

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Make (full) sense of insurance policies

Details: insurance, distribution, expenses and surrender charges. BEFORE YOU COMMIT Finance experts say that since the projected returns do not represent the real returns received by the client, one way to assess the product is to look at the guaranteed values because that is the amount that the insurer is obligated to pay.

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Mortgage Calculator - MoneySense

Details: Tip. Making a lump sum repayment to your existing home loan can help you save on interest paid (in the long run)! Be sure to check with your lender if there are any prepayment penalties first.

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› Url: https://www.moneysense.gov.sg/financial-tools/mortgage-calculator Go Now

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DIRECT PURCHASE INSURANCE - MoneySense

Details: A term life DPI provides insurance protection for a fixed period of time and may be suitable if you wish to provide for your financial dependants until they become self-reliant. There will be a payout if you pass away, or suffer a terminal illness during the coverage period. Terminal illness is the

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What to ask before buying health insurance

Details: How much insurance should you buy if you have financial constraints? Does the upgrade justify the costs, including the out of pocket expenses? Can you afford the premiums over the long term? Health insurance premiums go up with age. 8 questions to ask your FA representative I already have MediShield Life and/or ElderShield.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/what-to-ask-before-buying-health-insurance Go Now

› Get more:  Life,  HealthGo Now

Understanding ElderShield - MoneySense

Details: ElderShield is a national severe disability insurance plan that helps you with your long-term care needs. Singapore citizens and permanent residents with MediSave accounts are automatically enrolled for this plan when they turn 40 years old. Although ElderShield is an opt-out scheme, read on to see why it makes more sense to stay on this plan.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/eldershield Go Now

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Buying life insurance? Here’s more information

Details: the insurance offered by a particu-lar insurer, so it may not reflect the cheapest policy in the market. Mr Dennis Hoe, team lead at DIYInsurance, said that while the new document provides con-sumers with a simple guideline, comparing whole life with the idea of buying term to invest the rest may send a wrong signal.

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Contact us - MoneySense

Details: Queries or feedback on the MoneySense website If you have queries or feedback about the MoneySense website, write to [email protected] MoneySense talks and seminars

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Protecting yourself against credit card fraud

Details: Checklist Tips for guarding against fraud Receiving your new card. You will need to activate your credit card before you can use it Always ensure that you update your personal particulars, e.g. mobile number, email and address with your bank

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› Url: https://www.moneysense.gov.sg/articles/2018/10/protecting-yourself-against-credit-card-fraud Go Now

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Financial advice: Who you could be dealing with

Details: FA representatives are appointed by licensed financial advisers, banks, insurance companies or brokerages to provide advice on life insurance and investment products on their behalf. They may call themselves financial advisers, financial planners, financial consultants, insurance agents or relationship managers.

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› Url: https://www.moneysense.gov.sg/articles/2018/11/financial-advice-who-you-could-be-dealing-with Go Now

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Death of a breadwinner: How to cope financially

Details: The insurance companies will advise you on the claim procedures and any additional information that they may need. Note There's a time limit to making a death claim. You should report a claim as soon as possible to prevent delay or complicating processes. If the claim is approved, the insurance companies will make payment to you in a lump sum

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› Url: https://www.moneysense.gov.sg/articles/2018/10/death-of-a-breadwinner-how-to-cope-financially Go Now

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Being a guarantor: What it really means

Details: What is a guarantor? A guarantor is someone who agrees to be responsible for paying the loan if the borrower defaults. For example, if you were a guarantor for someone who is unable to repay his renovation loan, you could end up repaying the loan for him.

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› Url: https://www.moneysense.gov.sg/articles/2018/10/being-a-guarantor-what-it-really-means Go Now

› Get more:  Insurance QuotesGo Now

YOUR GUIDE TO TRAVEL INSURANCE

Details: travel insurance? There is a wide range of benefits offered under travel insurance. These can also vary among insurance companies and by plans in terms of limits / excess, definition and insured perils. Most comprehensive travel insurance would offer main benefits such as Personal Accident, Medical Expenses (overseas and in Singapore), Trip

› Verified 25 days ago

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