Singapore Insurance

Insurance par fund, also known as participating fund or with-profits fund, is a unique investment component offered by insurance companies. It is an attractive option for individuals seeking a balance between insurance coverage and potential investment returns. In this article, we will delve into the concept of insurance par funds, their benefits, considerations, and how they work. What is an Insurance Par Fund? An insurance par fund is a pooled investment fund created by an insurance company using the premiums paid by policyholders. The insurer manages this fund and invests it in various assets such as stocks, bonds, and real estate. The returns generated by these investments are shared with the policyholders in the form of bonuses or dividends. Benefits of Insurance Par Fund: Stability and Security: Insurance par funds aim to provide stability and security to policyholders by offering guaranteed minimum bonuses, which help mitigate market fluctuations.Participating in Investment Retu...

Insurance is a form of financial protection that compensates individuals or businesses for unexpected financial losses. The insurance industry offers a wide variety of policies that cover different types of risks and provide different levels of protection. Understanding the different types of insurance is crucial for individuals and businesses to make informed decisions and ensure they have the right coverage in place. In this article, we will discuss the most common types of insurance, including health insurance, life insurance, auto insurance, property insurance, liability insurance, and travel insurance. Health Insurance Health insurance is a type of insurance that covers the cost of medical care. It is one of the most common types of insurance and is often considered essential by many individuals. The main aim of health insurance is to provide financial protection against the high cost of medical care and to ensure that people can access the medical care they need when they need it...

Many people might not know that they can actually buy resale endowment plans from various companies.  This is usually not sold directly from insurers but are instead sold by companies like REPs Holdings which buys endowment plans from people and sell it onward to other people who might wish to purchase these "used" endowment plans.   What is clear is that these plans do not provide any form of insurance as the insured person remains as the original policy owner who bought the plan from the insurer.    After paying it for a few years, the original policy owner probably does not wish to pay the premiums anymore but instead of surrendering it to the insurer, they can sell it to another individual who is willing to take on the premium payments and of course benefit from the final guaranteed/non-guaranteed amounts that come at the maturity of the endowment plan.   The original policy owner benefits since he/she is probably able to get a much higher cash val...

Life Insurance Association will publish guidelines regarding agent recruitment. The rules intend to provide a framework for the recruitment of rival agents by insurers in Singapore and to curb any mis-selling by these new agents who are required to hit their sales target at the new firm. The move comes after the mass migration of 300 or so Great Eastern (GE) insurance agents - nearly 10 per cent of its agency size - to rival AIA's newly set up financial advisory arm, AIA Financial Advisers. What do you do if your insurance agent was one of the GE agents who migrated to AIA? You should take any advice they give on replacing our surrendering any existing insurance policy you have with a great pinch of salt.  Replacing or switching of policies  is rarely beneficial for the insured so be warned. 

TM Protect Cancer is an insurance term plan that provides coverage when one is diagnosed with early or advanced stage cancer. It is designed for adults age between 30 and 65 and provides coverage extending till age 85. The plan provides comprehensive cancer coverage with 50% benefit payout on early detection of coverage. It provides 100% benefit payout on advanced stage cancer diagnosis. The plan is also guaranteed renewable where coverage is guaranteed despite changes to future health condition. Coverage amounts ranges from $50,000 to a maximum of $150,000. The annual premium rate is also pretty affordable with per $1,000 Sum Assured by Age Band as follows:

There are a number of private hospitals in Singapore (hospital swasta di Singapore). Unlike the Government/Restructured hospitals, these private hospitals are more expensive. There are also limits on insurance claims (especially if you have a hospitalisation plan that does not give coverage for the use of private hospitals) when one uses a private hospital. Here is a list of private hospitals in Singapore: Mount Alvernia Gleneagles Mount Elizabeth Raffles Hospital Camden Thomson Medical Centre Farrer Park Hospital Gleneagles is located conveniently just beside the botanical gardens and directly opposite the American embassy. The hospital also has a medical centre block. Carparking can be an issue at times.