Author: fundMyLife

Comparison Of Early and Multi-pay Critical Illness Plan Premiums

Critical illness plans help you cope with recovery and expenses when you are out of a job in the event of a critical illness. Initially, there was only regular critical illness plans that give a payout after late stage disease diagnosis. After that, came early critical illness plans that pay out after early to intermediate stage diagnoses. While useful, this is a separate plan that you had to get. Multi-pay plans emerged in recent years, and is innovative for providing multiple payouts without immediate policy termination, unlike the early and normal critical illness plans. This implies that there is...

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fML Reviews: AXA SmartCare Critical

Posted on October 15th 2018 Tags: AXA critical illness fundMyLife Review Critical illness plans are immensely useful when you experience critical illnesses, as you get a lump sum of money to help you cope during recovery. In this article, fundMyLife examines AXA SmartCare Critical and reviews its features. What is it? In contrast to the AXA CritiCare For Her/Him and AXA Early Stage Cover, AXA SmartCare Critical is a relatively straightforward critical illness plan that covers 30 critical illnesses at late stage. You can start when you are 18, and it is renewable until you are 65. Notable features Four-tiered...

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fML Reviews: TM Multicare

  Critical illnesses are on the rise, with increasing lifespans. When you’re struck with a critical illness, such as cancer, you become unable to work. Critical illness plans step in to provide that lump sum of money for you to tide the tough times. However, critical illnesses often strike several times, necessitating longer period of protection. However, traditional critical illness plans terminate after the first payout. This leaves you in a vulnerable position since you’d have preexisting conditions that disqualifies you from subsequent critical illness plans. In response to this demand for protection for critical illness relapse and/or recurrence,...

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fML Reviews: PRUmultiple crisis cover

Critical illnesses suck. When it strikes you – touch wood – you’d have to undergo treatment or surgery. After that, you cannot work as per normal in your job because you have to set aside time to recover. This also means there won’t be any income in the meantime. Fortunately, that’s where critical illness plans come in. The lump sum payout helps you cope with the time when you are recovering from your illness. You also get to use that money to pursue alternative treatment. On big minus is that the plan terminates upon pay out and leaves you at...

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fML Reviews: Great Eastern Critical Care Advantage

Critical illnesses can be debilitating, often requiring you to take time off work. The loss of income is a source of stress, while you need the money to aid your recovery. That’s where critical illness plans come in – a lump sum payout that addresses that loss of income during recovery. Typically, a critical illness plan covers only late stages of diseases and you need to purchase two separate plans (early critical illness and regular critical illness plan) to cover the three stages of critical illnesses – early, intermediate, and late/critical. To address this need, Great Eastern offered the...

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fML Reviews: AXA CritiCare for Her/Him

Critical illness plans are plans that pay a lump sum of money when you are diagnosed with a critical illness. The lump sum of money will then help you during your recovery and absence of work. As regular critical illness plans are meant for both men and women, the benefits can be quite general and does not take into account sex-specific needs. As such, AXA designed a plan called AXA CritiCare for Her and AXA CritiCare for Him for women and men respectively. In this article, fundMyLife reviews AXA CritiCare for Her/Him and looks at its features. Note: this article...

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fML Reviews: AIA Triple Critical Cover

When you’re unwell, you take a day off work and return the next day without severely affecting your job. However, when you’re critically unwell, e.g., cancer, you become debilitated and require a long period of rest. This jeopardizes your ability to work. Fortunately, critical illness plans are plans that provide a lump sum of money whenever you are critically ill, to help you cope with the period when you’re not working. The problem with critical illness plans is that they terminate upon paying out and do not account for relapses of critical illnesses. As such, in the recent years...

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18 Special Conditions In Critical Illness Plans: What Are They?

Critical illness plans are plans that provide a lump sum payout whenever you contract one of the 37 critical illnesses defined by the Life Association of Singapore. In addition, some insurance companies provide benefits for additional 18 special conditions in critical illness plans. These conditions range from the usual, e.g., diabetes, to the obscure, e.g., Wilson’s disease. We here at fundMyLife are biologists at heart, and the human body is a ceaseless source of wonders (and nightmares). In this article, fundMyLife lists all 18 special conditions in critical illness plans and details what they are. Disclaimer We’ve taken the...

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fML Reviews: Manulife Ready CompleteCare

  Critical illness plans are plans that pay out a lump sum when the doctor diagnoses you with one of the 37 critical illnesses. The lump sum is meant to help you cope with the period when you cannot work and require rest. One disadvantage of critical illness plans is that it will pay out only once, and it terminates after. This exposes you to risks such as recurrent cancer later in your life, but you can no longer purchase critical illness plans. In response to such risks, insurance companies have come up with multi-pay critical illness plans, which...

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fML Reviews: Aviva MultiPay Plan III

Posted on September 12th 2018 Tags: Aviva critical illness fundMyLife Review Critical illness plan is a form of insurance that provides a lump sum payout whenever you’re diagnosed with one of the 37 critical illnesses, defined by the Life Insurance Association of Singapore. The lump sum is to help the person during the recovery period, when he/she cannot work. In our previous article, we discussed the differences between single-pay and multi-pay critical illness plans. One plan that we mentioned in the article was the Aviva MultiPay Plan III. Where is Aviva MultiPay Plan I and II? That’s a question that...

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Single-Pay Vs Multi-Pay Critical Illness Plans – What's The Difference?

Posted on September 10th 2018 Tags: Advice critical illness fundMyLife Critical illness plans are plans that pay a lump sum of money whenever you’re critically ill. The payout is supposed to help you cope during the recovery period that you cannot work. Apart from the basic and early critical illness plans, insurance companies recently introduced multi-pay critical illness plans. What are they, and how are they different? In this article, fundMyLife examines the differences between single-pay and multi-pay critical illness plans. #1 Number of times you get payouts Let’s get the most obvious difference out of the way –...

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6 Avoidable Mistakes When Saving Money

Posted on September 5th 2018 Tags: Advice Financial Planning fundMyLife savings There’s a saying that goes like this, “save your money today and it will save you tomorrow”. It sounds easy right? Just two simple steps: 1) put money somewhere, like an account, 2) repeat step 1. While simple in theory, saving effectively is monumentally hard. More so when there are so many things to pay for, like bills, leisure, travel, etc. In this article, fundMyLife shares avoidable mistakes when saving money, and how you can avoid them. #1 Not having a goal and a plan One of the...

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3 Kinds Of People Who Should Use Credit Cards (And 2 That Shouldn't)

Posted on September 3rd 2018 Tags: credit card fundMyLife opinion Credit cards can seem like a godsend. One swipe for your purchases, and you won’t have to worry about paying it until the end of the month. Being a credit card user, it allows you to delay your payments made usually up to 52 days of the interest-free period. Having a credit card also significantly reduces the amount of cash you carry in your wallet. While it is definitely useful, all it takes is a mistake in handling your purchases before it becomes ab-useful. Hurhurhur, get it? Not everyone...

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Understanding The Features Of The Home Protection Scheme

Posted on August 29th 2018 Tags: fundMyLife Mortgage Underwritten by the CPF board, the Home Protection Scheme is a mortgage reducing insurance. While it sounds like a scheme that protects the home, e.g., in case of fire, it is actually a scheme for homeowners. It protects the members and their dependents from being unable to pay the HDB mortgage, when unforeseen circumstances happen, e.g., death, total disability, etc. How does the Home Protection Scheme work? It insures the parties who are paying for the mortgage, proportionate to the couples’ contributions. For example, John and Jane pay $1,000 per month...

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