About Insurance,pls advise!

[krafty]

hi,

how much coverage is enough?

Currently, I have a living policy of $50K and another solely insurance of coverage $50K,is these enough?

As a smoker, I always anticipate that I will strike cancer but I want to know with the above,is it enough? thks.

 

[ps07857]

My dear bro, A minor procedure (e.g. appendicitis) easily will cost you around $10k in SG. That is a half day stay in the hospital. Any other kind of procedures will cost you more than that depending on the number of days that you stay in the hospital. I think ur coverage is very basic and not too deep. At most after 5 days, you have to be discharged or face a large bill being sent to you. Have you seen this posted by another forummer?


--------------------------------------------------------------------------
Sex and party for potential insurance clients

SOME insurance companies in Johor are recruiting female agents to have sex with potential customers, Guang Ming Daily re-ported.

The companies also arranged for the agents to party with the would-be clients at nightclubs and karaoke outlets.

Sources told the newspaper that the female agents were recruited among divorcees, single mothers or those helping their boyfriends repay debts.

“These are women who will do anything for money,” the sources said, adding that the agents went after middle-aged small entrepreneurs who were not very highly educated.

Agents who failed to “hit” their targets would be punished by having to “showcase” themselves in adult diapers or lingerie.

They were also forced to pay fines of between RM1,000 and RM3,000 to their company.

 

[krafty]

I am hoping someone with some sort of experience will advise on this,thanks.

What have the article on sex and party got to do with my question,dun quite understand?:p

My dear bro, A minor procedure (e.g. appendicitis) easily will cost you around $10k in SG. That is a half day stay in the hospital. Any other kind of procedures will cost you more than that depending on the number of days that you stay in the hospital. I think ur coverage is very basic and not too deep. At most after 5 days, you have to be discharged or face a large bill being sent to you. Have you seen this posted by another forummer?


--------------------------------------------------------------------------
Sex and party for potential insurance clients

SOME insurance companies in Johor are recruiting female agents to have sex with potential customers, Guang Ming Daily re-ported.

The companies also arranged for the agents to party with the would-be clients at nightclubs and karaoke outlets.

Sources told the newspaper that the female agents were recruited among divorcees, single mothers or those helping their boyfriends repay debts.

“These are women who will do anything for money,” the sources said, adding that the agents went after middle-aged small entrepreneurs who were not very highly educated.

Agents who failed to “hit” their targets would be punished by having to “showcase” themselves in adult diapers or lingerie.

They were also forced to pay fines of between RM1,000 and RM3,000 to their company.

 

[SneeringTree]

hi,

As a smoker, I always anticipate that I will strike cancer but I want to know with the above,is it enough? thks.

I would suggest you quit smoking now. Your insurance premiums go up with age and other habits (like smoking).

 

[krafty]

you all haven't answered my questions?pls advise.

I would suggest you quit smoking now. Your insurance premiums go up with age and other habits (like smoking).

 

[cooleo]

hi,

how much coverage is enough?

Currently, I have a living policy of $50K and another solely insurance of coverage $50K,is these enough?

As a smoker, I always anticipate that I will strike cancer but I want to know with the above,is it enough? thks.

You did not state whether your coverage is for critical illness or payable to your family upon your death. Very different wor.

Many ppl have coverage for death, but not for critical illness. I advise you to speak to your agent about this.

Generally, $200,000 each for death and critical illness will be good. But that is just my opinion. Nowadays $200,000 can't even buy 3 room flat ok. So depend on how much you want your family to have after you pass away.

Also, beside critical illness and death, you should buy a plan from Prudential that will cover your medical/hospital expenses. It does not cover everything mind you. Currently, even if you use medisave, i believe there is a co-pay amount you need to fork out yourself. If you get the Prudential plan, it will help you pay that amount.

 

[SneeringTree]

you all haven't answered my questions?pls advise.

If you are a smoker, your coverage is 100% inadequate.

 

[krafty]

are you an insurance agent? anyway, i like to know how much you will have to pay for medical,does the insurance cover such expenses?both my policies have such cover but how much is really needed?

You did not state whether your coverage is for critical illness or payable to your family upon your death. Very different wor.

Many ppl have coverage for death, but not for critical illness. I advise you to speak to your agent about this.

Generally, $200,000 each for death and critical illness will be good. But that is just my opinion. Nowadays $200,000 can't even buy 3 room flat ok. So depend on how much you want your family to have after you pass away.

Also, beside critical illness and death, you should buy a plan from Prudential that will cover your medical/hospital expenses. It does not cover everything mind you. Currently, even if you use medisave, i believe there is a co-pay amount you need to fork out yourself. If you get the Prudential plan, it will help you pay that amount.

 

[kingrant]

Lung cancer strikes 1 in 2 men. If you have tumour at stage 3, at Mt E, you probably need 6 cycles of chemo - 3before and 3 after suregery. Each cycle costs $7000. So total: $42000 exc GST etc. Yr $50K is bad news.
If you kena relapse, no more money!

hi,

how much coverage is enough?

Currently, I have a living policy of $50K and another solely insurance of coverage $50K,is these enough?

As a smoker, I always anticipate that I will strike cancer but I want to know with the above,is it enough? thks.

 

[Cestbon]

hi,

how much coverage is enough?

Currently, I have a living policy of $50K and another solely insurance of coverage $50K,is these enough?

As a smoker, I always anticipate that I will strike cancer but I want to know with the above,is it enough? thks.

That was too low only $100k in total. Must at least tripple up or 5 times your current policy because medical expense will keep on going up and never go down.

 

[krafty]

But I have 2 policies of 50k,can use together right?

Lung cancer strikes 1 in 2 men. If you have tumour at stage 3, at Mt E, you probably need 6 cycles of chemo - 3before and 3 after suregery. Each cycle costs $7000. So total: $42000 exc GST etc. Yr $50K is bad news.
If you kena relapse, no more money!

 

[Cestbon]

But I have 2 policies of 50k,can use together right?

I think your policy $50k is for medical and another $50k only payout when one person death. Normally that what insurance agent sell as a package.
Meaning only $50K for medical expenses or when tou die total payout will be $100K.
So do your own math. Does $50k will be enough for medical expenses or if your die will $100K enough for your family??

 

[Leongsam]

hi,

how much coverage is enough?

Currently, I have a living policy of $50K and another solely insurance of coverage $50K,is these enough?

As a smoker, I always anticipate that I will strike cancer but I want to know with the above,is it enough? thks.

That's absolute peanuts! You might as well not bother.

I don't know what sort of lifestyle you're leading right now but if you to preserve your standard of living for yourself and your loved ones should you no longer be able to work for a living, you probably need cover of at least $1.5 million.

This sum should cover the cost of treatment (budget $200,000 for the best care that money can buy) with $1.3 million left over to provide a yield of around $40,000 to $50,000 per annum for yourself or for those you leave behind should you kick the bucket.

 

[captainxerox]

That's absolute peanuts! You might as well not bother.

I don't know what sort of lifestyle you're leading right now but if you to preserve your standard of living for yourself and your loved ones should you no longer be able to work for a living, you probably need cover of at least $1.5 million.

This sum should cover the cost of treatment (budget $200,000 for the best care that money can buy) with $1.3 million left over to provide a yield of around $40,000 to $50,000 per annum for yourself or for those you leave behind should you kick the bucket.

1.5 million? wah the premium already sure kill! unless it is all term insurance. cheap and good.

 

[Leongsam]

1.5 million? wah the premium already sure kill! unless it is all term insurance. cheap and good.

There is nothing wrong with term insurance. In fact, it's the only form of insurance that I recommend.

 

[Cestbon]

1.5 million? wah the premium already sure kill! unless it is all term insurance. cheap and good.

Ha ha.........$1.5m premiun will be around $40k/year or more.

 

[krafty]

really too bad if that happen, 100K is my own self valuation,if need more money,i will go jump MRT.

 

[evisionary]

All depends on your liability.

 

[Leongsam]

Ha ha.........$1.5m premiun will be around $40k/year or more.

I don't know what sort of rip-off con artist life insurers operate in Singapore but in NZ, the monthly premium for a 30 year old male smoker is less than $90 for $1 million coverage.

Work it out for yourself at www.PinnacleLife.co.nz

 

[middaydog]

if need more money,i will go jump MRT.

you have to think fast, they are putting up barrier at all MRT station