Insurance

Yes, all prices reflected are inclusive of GST.

Yes, for most regular premium policies, you can use your credit card (Visa or MasterCard) for the first premium payment.Yes, for most regular premium policies, you can use your credit card (Visa or MasterCard) for the first premium payment.

Except for a few types of policies, such as Integrated Shield plans and single-premium products, premium payment frequency for regular premium plans typically include yearly, half-yearly, quarterly and monthly. There is usually a small discount if you pay your premium yearly as compared to other types of frequency modes.

During the insurance application, you will be able to indicate your preferred payment option namely, by cheque or credit card (Visa or MasterCard). For subsequent yearly premium payments, it will be through GIRO. These payments are made to the insurer.

Product enquiries through MoneyOwl are absolutely free. You only pay your insurance premiums if you subsequently purchase a policy through us.

If you are looking for or have an enquiry on a product that is not featured in our website, do contact us at https://www.moneyowl.com.sg/contact-us.

The ranking is based on the Internal Rate of Return (IRR) of the projected payout over premium. This is based on the higher non-guaranteed payout based on the benefit illustration provided by the insurer. For life-time payout, there is a harmonization of time periods used.

A higher ranking is given to policies with higher IRR. Higher IRR means that for the same amount of premium, you can expect higher payouts (e.g income payout, maturity benefit), with all things being equal. This ranking is used in most of our retirement product comparisons.

Savings products such as endowment funds are ranked based on the Internal Rate of Return (IRR) of the total higher projected payout. For plans with payout option over a period of time, the IRR of payout option is used.

IRR is the rate of growth of savings based on the projected benefit and any yearly cash benefit. The higher the IRR, the higher the rank.

Protection products are each ranked according to different criteria as shown below:

Term Life: This is calculated by taking the ratio of sum assured or projected death or critical illness benefits to total premium. For two different plans with the same sum assured, the plan with the lower premium will be given a higher ranking.

Whole life: This is calculated by taking the ratio of Protection and surrender values at about age 65 over total premium. A higher ranking is given to the plan with higher projected benefits and surrender value at a specific age of 65 over the total premium payable.

Long Term Care: This is calculated by taking the ratio of total income payout over premium*. For two different plans with the same payout, the plan with the lower premium will be given a higher ranking.

*Calculations are based on assumptions used for the duration of disability and life expectancy.

Life Protection: Coverage and premiums include Death and Total Permanent Disability (TPD).

Critical Illness: Coverage and premiums include Death, Total Permanent Disability (TPD) and Critical Illness (late-stage) coverage.

Early Critical Illness: Coverage and premiums include Critical illness coverage (Early/intermediate/late-stage critical illness) only.

Occupational Disability: Coverage and premiums include Occupational Disability coverage.

Hospital Plan: Coverage for hospitalisation and surgical expenses for selected hospital care. The premiums reflect the sum of the annual premiums of the Integrated Shield Plan and the rider (if applicable). It excludes premiums of the Medishield Life component.

Long Term Care: Coverage for long-term care needs. The premiums reflect the Eldershield supplement component only. It excludes premiums of the Eldershield component.