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Why Do You Need Whole Life Insurance In Singapore

Life insurance is the best way to protect your loved ones financially after your death. It compensates them for the loss of your income by paying them a lump sum to mitigate the financial impact of your passing away. At Singapore Expat Advisory, our experienced insurance brokers can help get you sorted with all the coverage you need, especially life insurance for expats. Visit us now. https://singaporeexpatadvisory.com/service/insurance/

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Why Do You Need Whole Life Insurance In Singapore

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  1. WhyDoYouNeed WholeLifeInsurance InSingapore SingaporeExpatAdvisory

  2. Wholelifeinsuranceprovidesthelifeassured withinsurancecoveragefortheirentirelife. In addition, wholelifeinsurancealsoaccumulatesa cashvaluethatispayableuponsurrenderofthe policy. Whiledeathmaynotbeasubjectpeopleenjoy talkingabout, itisacertaintyweneedtoplanfor. Awholelifeinsuranceplanessentiallyprovides whatcanbeconsideredaguaranteedpayoutfor yourlovedonesshouldtheunforeseenhappen toyouandyouarenolongerabletoprovidefor them.

  3. Limitedpay, coverageforlife Whenyouchoosetobuyawholelife insuranceplan, youwillreceivecoverage forlife, unlessyouchoosetosurrender theplan. Thismeansregardlessofwhen deathwilloccur, yourlovedoneswill receiveaguaranteedpayout, whichwill beatleastequaltoormorethanthesum assuredthatyouboughtonthepolicy.

  4. Deathbenefit & multiplier effect Whilethesumassuredyoubuyisaguaranteedminimumpayoutthatyouoryour beneficiarieswillreceiveintheeventofaninsuredevent (i.e. death, permanent disability, terminalillness), youmayalsooptforapayouthigherthanthesumassured. Thisisbecausemanywholelifeinsuranceplanstodayprovideamultiplierbenefit. Dependingonthemultiplieryouchoose, yourcovercangouptoxtimesoftheinitial sumassured. However, itisimportanttoknowthatmultipliersendafteracertainage.

  5. OTHER ADD-ON Anotherimportantcomponentof RIDERS wholelifeinsuranceisthatitallows youtoaddonotherimportantriders tocomplementyourmainplan, ensuringyouenjoyaholisticcoverage. Theseridersmayincludeearlycritical illness (ECI) plan, criticalillness (CI) planandaccidentaldeathbenefits. Typically, youalsoenjoyfavourable premiumrateswhenyouaddona ridertoyourmainwholelifeinsurance plan, asopposedtobuyingthemas separatestandaloneinsuranceplans.

  6. Withwholelifeinsuranceplans, youare alsobuildingacashvalue – whichmay compriseofbothaguaranteedand non-guaranteedreturn – ontopofyour coverage. Theportionofguaranteedreturnsis whattheinsurancecompanyisobliged topayyou. Thenon-guaranteedportion ofthereturnsarebasedonthe CASHVALUE performanceoftheinsurance companies’ participatingfunds.

  7. EMAIL advice@singaporeexpatadvisory.com ADDRESS 7500A Beach Rd, 02-312 The Plaza, Singapore 199591 GETINTOUCH WITHUS PHONE +65 9432 8781 WEBSITE http://singaporeexpatadvisory.com/

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