It is never too early to start planning for your family’s future. That way, you can give them the security they need even when you are no longer around. Life insurance protects not only your family but yourself as well. This article will talk about the best life insurance in Singapore available right now. Continue reading to help yourself in choosing the best insurance for you.
Medical Insurance
When it comes to protecting our loved ones, we will go to any length just to ensure their safety and financial stability. This is why medical insurance plays such a vital role for many families especially those with children or those who still hold young dependent parents still. Supported by affordable premiums and comprehensive policies that cover both hospitalization and outpatient expenses, medical insurance has definitely made things better for policyholders and their loved ones during difficult times. It covers more than just medical expenses as well. Policies may also cover some of the financial responsibilities such as childcare, housekeeping and more depending on your policy’s terms and conditions. Medical insurance is a very cost-effective way of caring for your family even after you’re gone – both financially and emotionally.
Critical Illness Cover
A critical illness like heart attack, stroke or cancer can be seriously debilitating and life-changing if not life-threatening. Although it is extremely unfortunate to find oneself in this condition, having critical illness cover can help with financial burdens caused by expensive treatments and procedures associated with the diagnosis. This additional layer of protection ensures that policyholders continue receiving treatment without worrying about how they will pay for it all since most policies reimburse up to 90% of the incurred expense.
Critical illness cover also offers lump sum benefits for non-medical needs such as home renovation, debt repayment and so much more depending on the terms and conditions of your policy.
Funeral Expenses
For Asian cultures, funeral expenses are an important part of being prepared for death because it is seen as disrespectful to one’s ancestors if they are not properly laid to rest with all rites observed. Although most policies do include an amount that can be used for funeral expenses during claim time, this benefit may only cover basic costs which is why additional coverage that specifically covers this cost comes in very handy when you have higher expectations or specific requirements like flying back your family’s remains from overseas. Funeral plans vary greatly in coverage, premiums and payment options.
Property Insurance
A property insurance policy protects the home itself should any unforeseen circumstances arise, all the way from fires to earthquakes to vandalism. As destructive as these calamities are, they are also inevitable because that’s just how nature works. The advantage of property insurance is that it covers both the structure of your property as well as its contents which includes furniture, appliances, electronic equipment and anything else you can think of! For people who live in high rise buildings or designated disaster areas like floodplains or slopes with a risk of landslide for example, this type of protection becomes even more necessary so it’s definitely worth considering if you have recently purchased an apartment or home.
Commercial Insurance
Businesses of all kinds need some sort of protection just like people do. That’s why commercial insurance options are made available to companies of all shapes and sizes. The coverage varies depending on the value of your company’s assets, liabilities and other factors so it is important you speak with an expert who will be able to advise you better or even tailor a suitable policy for your business specifically.
Home Insurance
Owning a home of your own is already one form of security but adding another layer through a home insurance policy makes it even more secure. As valuable as owning a home can be, it is also vulnerable to damage due to various reasons including natural disasters like earthquakes, break-ins and fires which is why this type of protection comes in very handy especially if you have a lot of expensive belongings.
