Emerge Wealth

15/08/2021

Working adults in Singapore are strikingly short of insurance coverage to meet their needs if critical illness occurs, according to a study.

It found that people here have policies that would meet just 20 per cent or so of their needs if such illnesses occur, leaving a worryingly large gap of 80 per cent.

In general, young adults tend to get some coverage when they have just entered the work force. However, when they have reached a new life stage, the majority of them will fail to update their coverage. As their salary rises, so do their liabilities, but they do not increase their coverage.

Most people think that they had sufficient coverage, but they were unaware if the coverage is enough to cover their ongoing living cost which usually increases as they age.

When diagnosed with a critical illness, you may result in income loss and unable to sustain your lifestyle and at the same time, you need to pay for hefty medical bills.

Never overlook your critical illness coverage when you celebrate towards your next life milestone.

Source: https://www.straitstimes.com/business/banking/working-adults-have-inadequate-cover-if-critical-illness-strikes-says-study?fbclid=IwAR2O1Tw60vCD-UB6LfsUTkP2EunwiqSQ7uJNBCVprChq06FMR6iyrfpEOxE

SINGAPORE - Working adults are strikingly short of insurance coverage to meet their needs if critical illness occurs, according to a study.. Read more at straitstimes.com.

24/06/2021

Recently, it was announced in Singapore - Life insurers lower range of projected investment returns for policies.

The aim of the change is to provide consumers with a more realistic range of projected investment returns and will not affect the actual returns of existing and future participating policies.

The upper illustration rate will be capped at 4.25 per cent a year, down from 4.75 per cent, and the lower illustration rate will be capped at 3 per cent a year, down from 3.25 per cent.

To summary, the changes are made on the ILLUSTRATED/PROJECTED returns and NOT the actual returns of your potential policy as the actual investment returns in the future depend on future economic conditions, actual asset class returns, and asset allocation of the participating fund. The key is always look for reliable source for your financial planning.

Read more:

SINGAPORE — From July 1, the range of projected investment returns that can be used to illustrate the benefits of buying participating life insurance policies will be adjusted downwards to better reflect what policy buyers may expect to receive going forward.

13/06/2021

Do you agree that insurance is a matter of necessity rather than a choice because life is full of uncertainties?

13/06/2021

Health & Wealth comes hand in hand. Plan for your wealth but also remember to plan for your health coverage.

Never take either one for granted.

04/05/2021

https://www.facebook.com/WHO/posts/4249547888423895

People with non-communicable disease (NCDs) have a higher risk of severe COVID-19. The main risks of NCDs are:

To***co. 🚬
Alcohol. 🍻
Air pollution. 🏭
Unhealthy diet. 🍔
Physical inactivity. 🛋️

19/10/2020

Insurance is designed to protect you and your loved ones from unfortunate events that affect your ability to work. Don't forgo the main benefit of purchasing insurance just because you are concerned about not getting any money back.

When we combine our goals for wealth accumulation and protection, we end up spending more on insurance, and as a result settle for less coverage than the amount we need. It is like buying an umbrella that isn't big enough to cover you when it rains because you paid a lot more for the option to get your money back if you never got to use the umbrella. This kind of defeats the purpose isn't it?

It's time to wise up and buy insurance the right way. Find out how you can get maximum protection at the lowest cost today!

19/10/2020

1 in 4 Singaporeans may develop cancer in their lifetime. Critical illness can happen to anyone, and unfortunately for some, more than once. The cost of late-stage cancer treatment ranges from $100k to $200k per year. Instead of leaving it to chance, give yourself and your loved ones total assurance before cancer strikes!