Are You Paying More Than Is Needed For Your Life Insurance? Here's How You Can Save Premiums...

[@ChrisTang787]

Best video! Unbiased. Lots of agents prefer to push life policy based on commission rather looking at the holistic picture of their clients. I was burnt badly by ILP. Can you please create a video on the pro and con of ILP also ILP payment structure.

[@joshconsultancy]

Thank you Christopher. ILPs are actually much less popular these days already. Cya around more =)

[@Ivan-nv6qg]

How are you badly burn by ilp?

[@tupaiking9136]

Does term policy in SG covers medical card? In MY it doesn't so we're forced to make do with ILPs 😖😖😖

[@joshconsultancy]

Term insurance starts by covering death. Then you add TPD or CI riders if need. Does not cover medical. Youd need medical insurance. Check this www.theastuteparent.com/2019/06/health-insurance-for-foreigners-in-singapore-best/

[@tupaiking9136]

@@joshconsultancy Thanks for the info but I'm not working in SG just wanted to know how does the term policy works there. So does this mean you advocate buying term policy for death with add-on riders for TPD & CI then purchase medical card separately under a ILP plan?

[@myevason]

⁠@@tupaiking9136I’m from Malaysia and I understand your question. Singapore context has some differences from Malaysia. What you mentioned on “buying a medical card under an ILP plan” is popular in Malaysia but not in Singapore. To have a “medical card” in Singapore, you can only buy it standalone and not bundle with any plan. If you are a Singapore Citizen or PR, you can utilise your CPF (Malaysia’s EPF) to pay part of the premium. If you are holding a valid pass (Employment Pass, S Pass, Dependent Pass, etc.), you do not have CPF but you still can buy Singapore Hospital Plan by paying cash. For foreigners who do not holding any valid pass, they cannot buy Singapore Hospital Plan. Term Life Plan is popular in Singapore and from what I observe is not so popular in Malaysia. Malaysia is popular with ILP Life Plan bundle with Medical Card. My brother did his comparison and bought Singapore Term Life Plan. He found that it is more worth to buy in SG (in terms of lower premium and the premium is same throughout the insurance validity). Furthermore, he also believe that SGD is more reliable than MY ringgit. Hope this helps.

[@KLgenius]

medical cost can be easily impacted by medical inflation which will make your medical coi increase frequently. would suggest to go for medical with ilp plan and build the ilp equity to cover the medical cost gap in future

[@BalrajSingh-gg3qm]

Another good video. Thanks for this.

[@joshconsultancy]

No probs Balraj, share with anyone who should see and learn too

[@nicholas2745]

Hi Josh, thanks for sharing. Im a Insurance Agent and I have been following you for a while now. I agree with what you have said however there are some pointers I find them debatable. Nevertheless I like how you are sharing your knowledge with the public here. Keep up the good work!

[@joshconsultancy]

Hi nicholas, no probs and thanks. great to cya here

[@Abcdabdcd]

Oh josh I was recommended by a FA ‘friend’ to sign a life plan for 25 years with yearly payout of 4000/year. Sum assured: 230k. Thank you for your educational video. I learnt a lot. As much as possible, insurance are essential. I will very much placed trust on an ethical FA (strategising portfolio for clients) than a commission driven FA.

[@joshconsultancy]

Hi there, sure. Share with a friend who should see too and cya around more ya :)

[@alee4141]

Any matetials on premium financing.. risk, benefit.. pro and con and how to do it correctly so not to backfire

[@joshconsultancy]

Leveraged Annuity Plans 🤔 How it Works And What Are The RISK To Watch Out For! kzbin.info/www/bejne/ioC9oqSogr2KeaM - smash the like too cya

[@chiaweinam]

Josh, do you think I need to buy long term care insurance? Suze Orman always say someone in their 50s should start looking at LTC. Can I self-insure? I'm 50 this year. How much net worth and passive income does a person need before he can forget about LTC?

[@joshconsultancy]

Hi Weinam, LTC in singapore is careshield Life. Id recommend supplement plans to it. If financially free, it protects retirement funds! Why waste retirement funds on increased health needs. Hope it helps and check www.theastuteparent.com/2020/10/aviva-mylongtermcare-vs-ntuc-income-secure-care/

[@KenliaAdventures]

Could u also be covering on hospitalisation plan? Some have option A and C that covers deductibles. Is it necessary? And some who were previously covered 100 percent now 95 percent only with 5 percent compartment. Just wondering if any adjustments in premiums for this group who has now less coverage 🤔

[@joshconsultancy]

Hi Kenny, yes it will follow the 95% plans premium which is cheaper.

[@TheOnRepeat]

Hi Josh, how do I go about to engage your service for financial advise? Looking forward to hear from you.

[@joshconsultancy]

Hi TOR 👍www.theastuteparent.com/josh-tan/

[@jrngsg]

Hope you could do video on disability income insurance and careshield supplement insurance one day. Thanks

[@joshconsultancy]

Hi Jeffrey, I’ve this article www.google.com.sg/amp/s/www.theastuteparent.com/2020/10/aviva-mylongtermcare-vs-ntuc-income-secure-care/ Hope it helps and sneak peek, Would be sharing on insurance in a video soon, subs and stay tuned :)

[@keith4392]

Hi Josh, thank you for the video. What are your thoughts on Mindef group insurance and its riders?

[@joshconsultancy]

Hi Zhenwei, I've a full article here www.theastuteparent.com/2017/06/saf-group-term-life/ . CI and early CI cover is imo far better to be covered under a personal coverage. Hope it helps and cya more =)

[@justintan7370]

Hi Josh, How do you find a good advisor? I also seem to get an advisor who is out there for their own interest and not for our interest.

[@joshconsultancy]

Doing some homework first is the best way to protect your interest. Hope it answers =)