Insurance
CPF: 4 in 1 Insurance Plan
By Investment Stab  •  March 18, 2020
Today's post will be on how CPF is actually four insurances in one. Instead of looking at the CPF Retirement Sum (CPF RS) as a target where you can withdraw money at a certain age, look at it as a Savings + Medical + Life + Annuity insurance plan. It is a Savings Insurance It helps you save up money for housing, medical, kids' education, and retirement. Furthermore, it pays pretty good interest. Insert interest image It is a Medical Insurance 1) We have got Medishield Life, Eldershield, and other medical insurance schemes that are paid by the MediSave Account. These insurance plans can pay for your hospitalisation fees when you need them. 2) You can also use your MediSave funds to pay for the cost of treatment for your immediate family members. Recommended Read: Why are there 2 Schemes to Top Up CPF? It is a Life Insurance 1) In the event that you passed away, all your...
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By Investment Stab
We are a group of Singaporean students who are curious and interested in Finance. As we dive deeper into this area in search of more knowledge, the more debates and differences we have. We also realised that financial literacy is not strongly inculcated in the younger generations, leading to numerous costly mistakes. Some of such includes believing in "high profiting" scams such as land banking and buying unnecessary investment schemes which are often motivated by the salesperson's personal interest ...
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