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Showing posts with the label Insurance

Wife Owes CareShield Life Premium

Previous post regarding CareShield Life. Today received a letter from MOH + CPF saying my wife owes S$252.87 of premiums, I thought they would just automatically deduct from my account since she doesn't have a single cent in her CPF. But as usual SG anything government related sure have e-Service, so easy to use and convenient, I think SG must have one of the the best government e-Services in the world if not the best. Just follow these steps: Go to  https://www.careshieldlife.gov.sg/ Under "eServices" > "Change Premium Payer" > It will redirect you to SingPass. After that pretty straightforward, just enter my wife's ID, the amount will appear, then just follow the instructions. Settle in less than 3 mins.
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Just Received Brochure for CareShield Life

https://www.straitstimes.com/singapore/health/compulsory-careshield-life-to-start-oct-1-for-residents-born-in-1980-or-later https://www.straitstimes.com/singapore/health/careshield-life-what-you-need-to-know-about-the-new-scheme Was a bit surprised, how come suddenly have a new mandatory insurance, almost thought it was a scam, so googled a bit and found that it was already announced in 2019, maybe I missed it, or maybe I read about it but totally forgotten. Anyway I think it's a good scheme which works hand in hand with the existing MediShield Life. Also seems like it is a replacement upgrade for the existing ElderShield, meaning people like my parents who are on ElderShield may opt to switch to CareShield next year, note that the premiums get upgraded as well, meaning better benefits but higher premium, also note that CareShield will have some subsidy from government whereas ElderShield don't have. Looks good to me, don't have to do anything, just pay money, those who can...
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Wife and Baby Term Insurance Rejected

Just now checked with my agent how come so long never receive any news then found out that both wife and baby term insurance application got rejected, also due to their heart condition, but it's not that bad, no term insurance not really big deal, can still go for those savings plan, I think most important is hospital insurance, lucky still have MediShield Life so no need to worry so much. Anyway wife and baby both eventually need to go for heart operation, must standby some cash just in case.
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Wife Enhanced Income Shield Rejected

Earlier on I applied NTUC Income Shield both wife and baby, recently received a letter saying wife's application was rejected, was kind of expecting it but never mind, at least she is still covered under Medishield Life, still way better than the old Medishield. Now waiting for baby's application, hopefully can go through.
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How Much Will I Leave Behind If I Die Now?

Recently this question popped up in my mind a few times, I think maybe because I'm the only person working so I'm a bit worried about my wife's future if I should suddenly leave this world. I should take this chance and find out how much I can leave to my wife if I die. Dependants' Protection Scheme $50,000 in the event of death or total permanent disability. Term insurance with rider $100,000 for main plan, $50,000 for rider, total $150,000 in the event death or total permanent disability. Company term insurance 24 times of my monthly salary, 24*3944=$94,656. Home Protection Scheme It will fully pay up my HDB loan so my wife won't have to pay anything more. CPF monies (as of today) Ordinary Account (OA) $4,151.53 Special Account (SA) $20,147.32 Medisave Account (MA) $23,386.47 Total $47,685.32 So she can get $342,341.32 and a fully paid 2-room resale flat, not bad huh, she can either sell the flat and go back to Thailand or continue to stay here...
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Maybe NTUC Income Can Do Its Part to Recognize NS Contribution

Last week when I was looking through my insurance payments, suddenly this idea came to my mind, actually NTUC Income can give discounts on premiums for those who get incentive pass and above for their IPPT, almost every NS personnel have to go through it, and usually fitter people are healthier so they should have lower chances of making a claim. Another good point is it offers another source of motivation, the idea of keeping fit for cheaper insurance doesn't sound too bad, in the end it's a choice, for people who don't wish to keep fit, fine, pay the normal rates, as for people who try to keep fit, get some discounts. Maybe they can start with this: Incentive Pass = $5 discount per month. Silver = $10 discount per month. Gold = $15 discount per month. In one year, that can add up to a significant amount, and also it can attract more people to get themselves insured since it can be cheaper. Finally, it shows that NTUC Income cares, and I think they should really l...
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Insurance Premium Rates for Age Next Birthday

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My health insurance is under NTUC Income, the plan name is Enhanced IncomeShield (Advantage) and I have an Assist Rider. I signed up last year, first time I paid S$102 via CPF for the main plan, and S$100 in cash for the rider. This year they informed via post that they will deduct via GIRO S$118 for the rider, then I logged into Income and checked my main plan, it says I will need to pay S$209 for my main plan, so that's like a 51.19% increase for the main plan and 18% increase for the rider. I don't remember receiving any notice about the revision of premium rates, I checked my policy and read this clause, Non-Guaranteed Premium The agreed premium is payable to effect and keep the Rider in force. The premium rates are not guaranteed and may be reviewed and varied by us by giving you (30) days' prior written notice to your last known address. Then I emailed their customer service, and they said the revision is due to a recent MediShield change, The Ministry o...
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Long-Term Visit Pass - Plus (LTVP-PLUS)

http://www.ica.gov.sg/news_details.aspx?nid=12665 Good news for those of us who cannot get PR for our beloved spouse, because the Singapore government has come up with a enhanced long-term visit pass called LTVP-PLUS or LTVP+. I'll sum up the key points in the FAQ provided by ICA so you don't have to go through one big page. Do let me know if I missed out anything or correction is required by dropping a comment. GENERAL LTVP+ will be in effect from 01 Apr 2012. LTVP+ holders will enjoy extended duration of residency, public healthcare subsidies and easier access to employment. No separate application required for LTVP+; an application for LTVP will automatically include your spouse for LTVP+, if eligible. LTVP applications submitted from 01 Feb 2012 will automatically be considered for LTVP+. The first approved LTVP+ will grant 3 years residency and subsequent renewal will be 5 years. Current holders of LTVP will be considered for LTVP+ on next renewal. If holde...
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How to Marry a Thai in Singapore

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Commission Calculator for DBS Vickers SG Stocks

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