Would you pay $5.19/day to protect your spouse, your children and your parents?

Dear Sir/ Dear Madam

Why pay more for your term insurance?

As the name suggests, a term insurance plan is like renting a car.
It costs less than whole life insurance plans and yet it meets your needs to increase your insurance coverage for a period of time. However it has no cash value.

So say you are a parent or an  individual looking to buy mortgage insurance to make sure your property remain yours in the event of death or if you are the sole breadwinners with ageing parents or young children as your dependents, you need a term plan of at least S$1 million.

Why S$1m ?
Insurance is needs based.
If your household expense for basic needs  (mortgage, food, utility bills & healthcare insurance needs) costs you $3000/mth, and  if you have 1 child or parents who may be around for the next 25 years, then you need to make sure you have savings of $900,000 which rounds up to S$1m as standby funds in the event of death.

If you do not have the S$1m now, hence you manage this risk by getting a cost-effective term plan which becomes your immediate asset.

So if you need $5000/mth to support your parents, in-laws and children and fend for yourself, then you need more insurance cover.

You want certainty for your loved ones, that’s why the term plan of S$1m will help you fulfill  your financial responsibility as a spouse, a parent or a child in the event of death, TPD or critical illness (CI).

e.g. Assume you are a  married male, age 33, a non-smoker with young children to raise or with dependents until age 65,  and you currently have a $1m of death cover Aviva-SAF term plan and a critical illness (CI) cover of $300,000 for advanced stage CI, then congratulations, you can consider alternatives such as the Aviva MyProtector Level.

Say if you qualify for the Aviva MyProtector Level with a death cover of $1.3m and a CI cover of $300K (for advanced stage of CI  only) , the premiums you pay from now until age 65 is $1896.04/yr or $60,673.28 over 32years.

Compared to the SAF Term plan with a S$1m death cover and attach the CI rider of $300K which costs: $91,652.04 over 32 years.

This illustrates a cost savings of $30,978.76  for you potentially compared to the Aviva SAF term plan.

Plus Aviva MyProtector Level Plus offers other valuable benefits:

  • the option to  increase your sum assured without the need for underwriting  when you have more children ( assume you qualify for standard cover with no exclusions)
  • TPD definitions are enhanced and insures you with a wider coverage to protect you against severe disability due to an accident or sickness.

So if you want to save big money on your insurance premiums,
simply call Claire at 81687459.    I personally have this plan as well and I bought it 2 years ago with the 25% perpertual discount.

Let’s start a conversation to review your insurance needs and insurance plans before it’s too late.  Fix things now and it stays fixed forever.

From now until 31 Oct 2015,  there is a 20% ongoing discount if you a $1m MyProtector Level Plus  term plan with Aviva.

And if you can afford the premiums, there is even the “money-back” versions of  term plan available.
i.e. if you do not claim for death cover during the policy term, you can get back your premiums upon policy expiry date.

So depending on your financial situation, you can brainstorm this with me.

Time is finite, please seize time and qualify for insurance when you are healthy.

Protect tomorrow’s possibilities today.

FREE Consultation, Enquire now:

Best regards
Claire Soh

Nothing in this material constitutes personalized investment advice.
Information provided here should not be considered as advice or as an offer or enticement to buy or sell or trade. The contents of this material, including any financial data, information, opinions and analysis, are strictly intended for educational use only.

No guarantees are made as to the accuracy of the information provided herein.
You shouldn’t make any investment decision based solely on what you read here.

It’s your money and your responsibility. And please consult your financial consultant or call Claire Soh at 8168 7459 before investing in any investment or insurance.

Should you choose not to seek such advice, you should consider whether the investment or insurance product in question is suitable for you.

Contents © 2015 Ms Claire Soh. All Rights Reserved.