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Critical Illness Protection

Mortgage Insurance Or Term Insurance For Your Mortgage Loan – Part 3 Of 3

In Part 1 of 3 of my Mortgage Insurance series, I have shared with you why you need to consider having a Mortgage Insurance to protect your Mortgage Loan and not wait till you are able to sell off the property…

And in Part 2 of 3, I have also shared why and when so to start applying for the mortgage insurance and most importantly the underwriting requirements needed for your application. If you have concern about taking a HIV test, I have also shared some pointers to go around it and lastly some basic health tips to ace your medical checks.

In this last part, I will be sharing with you, some of the common suggestions that most of my clients have when it come to their Mortgage Insurance Planning, they know they need it, but they are thinking whether to choose either a Level Term or Mortgage Reducing Term Insurance…

How To Choose Between Mortgage Reducing Term Insurance And A Level Term Insurance?

Basically there’s no right or wrong should you decide to choose either of the plan. It’s only wrong when you decide not to plan for it. But should you need some advice (from me), here’s a few pointers to consider from the two choices…

Choose Mortgage Reducing Term Insurance as first priority because:

Read More »Mortgage Insurance Or Term Insurance For Your Mortgage Loan – Part 3 Of 3

Questions To Discuss For Your Critical Illness Protection

In my field of doing financial planning with clients, one of my duties is to have a discussion with me asking questions (on the emotional side) and have the clients realized the importance of doing a financial planning.

One of the area that you need to look into is on your Critical Illness Protection.

Many people may be just relying on their Medisave and Medishield Schemes to pay the costs of their medical treatment (the number #1 killer in Singapore is Cancer). However, you should know that Medisave and Medishield have their daily limits and the available quantum may just be not enough to pay for the cost of prolonged hospital treatment or a major surgery.

If you are curious to know what is Medisave and Medishield all about, here is a list of useful links:

As such, you may need to have other source of funds to help pay for this kind of medical expenses – both for you and your immediate family members.

Another reason is that unlike death, being stricken with a Critical Illness may present to you a long-term financial strain. Think of this, beside being have to endure a significant initial and ongoing costs of treatment, you (as an income earner) will need to have some form of protection against the issue of a loss of income as you will probably by unable to work during this prolonged period of recuperation.

Therefore are you ready to understand more of yourself in terms of Critical Illness Protection, to really see if you need to start planning or to enhance?

Read More »Questions To Discuss For Your Critical Illness Protection