where to buy life insurance online

Arsenal_fan · Post by **Arsenal_fan** » Sun, 08 Mar 2015 10:46 pm

Been thinking of getting a term life plan with a critical illness rider. Any sites out there that do a comparison across the different products across companies and most importantly provide a quote online.

I really don't want a financial adviser trying to upsell me a whole life plan etc. I remember last year MAS allowed for life insurance companies to directly sell to consumers, checked a couple of sites but all I see is the enquire button.

the lynx · Post by **the lynx** » Mon, 09 Mar 2015 9:31 am

Arsenal_fan wrote:Been thinking of getting a term life plan with a critical illness rider. Any sites out there that do a comparison across the different products across companies and most importantly provide a quote online.

I really don't want a financial adviser trying to upsell me a whole life plan etc. I remember last year MAS allowed for life insurance companies to directly sell to consumers, checked a couple of sites but all I see is the enquire button.

Unfortunately there is no such website in Singapore. Any website that claims it can help you compare life insurance policies online, is actually a financial advising company under disguise.

My only suggestion is that you call up the ones you're comfortable with and get quotations on basic ones and compare yourself.

ecureilx · Post by **ecureilx** » Mon, 09 Mar 2015 11:07 am

the lynx wrote:
Arsenal_fan wrote:Been thinking of getting a term life plan with a critical illness rider. Any sites out there that do a comparison across the different products across companies and most importantly provide a quote online.

I really don't want a financial adviser trying to upsell me a whole life plan etc. I remember last year MAS allowed for life insurance companies to directly sell to consumers, checked a couple of sites but all I see is the enquire button.
Unfortunately there is no such website in Singapore. Any website that claims it can help you compare life insurance policies online, is actually a financial advising company under disguise.

My only suggestion is that you call up the ones you're comfortable with and get quotations on basic ones and compare yourself.

There was a site that did compare ..

Money mouse or something ..

Arsenal_fan · Post by **Arsenal_fan** » Tue, 07 Apr 2015 2:19 pm

Site (http://www.comparefirst.sg" onclick="window.open(this.href);return false;) launched by MAS to compare and buy life insurance policies direct from the insurers.

http://www.todayonline.com/business/no- ... able-today" onclick="window.open(this.href);return false;

the lynx · Post by **the lynx** » Tue, 07 Apr 2015 2:34 pm

Arsenal_fan wrote:Site (http://www.comparefirst.sg" onclick="window.open(this.href);return false;) launched by MAS to compare and buy life insurance policies direct from the insurers.

http://www.todayonline.com/business/no- ... able-today" onclick="window.open(this.href);return false;

That's gold. Thanks.

ecureilx · Post by **ecureilx** » Wed, 29 Apr 2015 10:48 am

Arsenal_fan wrote:Site (http://www.comparefirst.sg" onclick="window.open(this.href);return false;) launched by MAS to compare and buy life insurance policies direct from the insurers.

http://www.todayonline.com/business/no- ... able-today" onclick="window.open(this.href);return false;

+1 to that ..

JR8 · Post by **JR8** » Wed, 29 Apr 2015 11:08 am

I think life insurance can be one of those things people still just tend to believe they default need.
I think it's worth noting:-
If you have no dependants, you don't need it.
If you are are married, and your spouse has an adequate income/lifestyle with you out of the picture, you don't need it.
If you have heritable assets that such a spouse might inherit on your demise, adequate to provide an income, you don't need life insurance.
Many people in employment have life-insurance included in their benefits already, you don't need extra.

To me 3rd party life insurance is something of an archaic throwback, 'the male bread-winner protecting his family's well-being', in the absence of anything else. Like something from the 1950s, and it pays the salesman a veeery fat commission.

Arsenal_fan · Post by **Arsenal_fan** » Thu, 30 Apr 2015 11:07 am

Received a PM from one of our members. Thought I should share. Link shared in the message is below
http://www.ifa.sg/direct-purchase-insur ... -purchase/

Arsenal_fan · Post by **Arsenal_fan** » Thu, 30 Apr 2015 11:26 am

Agree with JR8 on this one. we have health insurance that covers for hospitalization. One of our acquaintances got diagnosed with cancer and they have spent a crazy sum. They had hospitalization covered but there is a lot that is not covered.It has gone on for about a year and the cancer keeps coming back.

Just got us thinking if we were ever in a situation like that, would we be able to afford it and the answer was no. I know it is an extreme case. Just would sleep better knowing we have some cover.

JR8 · Post by **JR8** » Thu, 30 Apr 2015 12:15 pm

Agreed. I had a 'big one' (medical event) some years back; staying in a suite at the Raffles for 4 months would have been cheaper. But we were covered, apart from the c25%, cS$40-50k excess I had to foot.

I think the subject is one that merits attention and thought, before you one day just happen to suddenly need to rely upon it.
- What coverage do you already have?
- What coverage might you conceivably (or even inconceivably, per my case) need?

That's health insurance. But I consider the question of life-insurance the same way, who are the intended beneficiaries, what do you already have (cover and assets), what might said beneficiaries actually reasonably need directly provided by you, in your absence?

I think people need to keep in mind that all insurance is like a lottery. The insurers actuaries (their statistical uber-geeks) are grading you based upon, age, gender, nationality, job, income, lifestyle etc. Any insurance policies are charged upon your resulting personal risk profile, they charge per what they calculate your risk as. At that point, statistically, you're coming out 'Evens'. But they add certainly 20% profit margin on to the top of premiums, after all that's their business. In that way insurance is more a case of only protecting against the wholly unexpected/unlikely, as anything more known or statistically predictable, and you've already more than paid for it via the premiums already...

p.s. Life insurance is a weird thing in a way. I wonder how many holders of it, have bothered to read through the contract small-print. All those inevitable broad exclusions and excesses that you otherwise know nothing of... [fingers in the ears, 'I've life-insurance - lalalala!'].