Discover our thoughtfully curated insurance packages tailored to meet the unique needs of various age groups. Whether you're seeking coverage for your newborn, just starting your career, or enjoying your retirement years, we have the right solution sets for you.
Newborns
New to Workforce
Starting a Family
Parents with Dependents
Pre-Retirees
Golden YearsNewbornsPurchasing insurance for your child while they are young and healthy ensures they receive comprehensive coverage without exclusions or additional premiums due to health issues.
Premiums for newborns and young children are generally more affordable compared to those for adults. The most important insurance to consider is an Integrated Shield Plan (IP) on top of MediShield Life. Although IP premiums may increase over time, the plan can be downgraded with the same insurer later without requiring additional medical underwriting.
Integrated Shield Plan: Enhanced IncomeShield (Basic)
Cash: $0/year
Medisave: $27/year
Cash: $0/year
Medisave: $27/year
Integrated Shield Plan: Enhanced IncomeShield (Preferred)
Cash: $0/year
Medisave: $219/year
Cash: $0/year
Medisave: $219/year
New to WorkforceWhen you start earning an income, purchasing insurance should be a top priority on your to-do list. It’s crucial because you might have dependents who rely on your income or potential financial obligations, like tuition loans, a mortgage, renovation loans, or a car loan.
Insurance offers income protection if you become critically ill and can’t work, helping cover your everyday expenses while you recover. Securing full coverage while you’re still in good health is ideal, as it ensures you avoid any unfavorable terms from insurers. Additionally, you might also consider taking over the policy and premium payments for any existing policies that your parents have purchased.
Integrated Shield Plan: Enhanced IncomeShield (Basic)
Term Life: MINDEF/MHA Group Term Life
Critical Illness: Singlife Multipay Critical Illness
Occupational Disability Income: Singlife Disability Income
$500,000 Death
$500,000 TPD
$150,000 Late Stage CI
$50,000 Early Stage CI
$3,000/mth Disability Income
Public hospital for ward class B1 and below
Policy year limit: $250,000
Cash: $980/year
Medisave: $37/year
Cash: $1,294/year
Medisave: $37/year
Integrated Shield Plan: Enhanced IncomeShield (Preferred)
Term Life: Singlife Elite Term II
Critical Illness: Singlife Multipay Critical Illness
Occupational Disability Income: Singlife Disability Income
$500,000 Death
$500,000 TPD
$300,000 Late Stage CI
$50,000 Early Stage CI
$3,000/mth Disability Income
Private hospital and private medical institution
Policy year limit: $1,500,000
Cash: $1,335/year
Medisave: $249/year
Cash: $1,613/year
Medisave: $249/year
Starting a FamilyAt this stage, you might feel financially stretched, with a modest income and significant financial commitments like a mortgage, car loan, and insurance payments. Opting for term plans can provide adequate coverage without overstretching your budget.
The recommended insurance solutions primarily focus on two key areas: income replacement and covering medical treatment and related expenses. Beyond insurance, it’s essential to allocate funds toward long-term investment goals such as retirement. Taking advantage of your longer time horizon allows you to weather the volatility of higher-risk asset classes, like global equities, which have the potential to deliver higher returns.
Integrated Shield Plan: Enhanced IncomeShield (Basic)
Term Life: MINDEF/MHA Group Term Life
Critical Illness: Singlife Multipay Critical Illness
Occupational Disability Income: Singlife Disability Income
CareShield Life Supplement: Singlife CareShield Standard
$500,000 Death
$500,000 TPD
$210,000 Late Stage CI
$70,000 Early Stage CI
$3,000/mth Disability Income
$1,400/mth Long Term Care
Public hospital for ward class B1 and below
Policy year limit: $250,000
Cash: $1,346/year
Medisave: $502/year
Cash: $1,772/year
Medisave: $613/year
Integrated Shield Plan: Enhanced IncomeShield (Preferred)
Term Life: Singlife Elite Term II
Critical Illness: Singlife Multipay Critical Illness
Occupational Disability Income: Singlife Disability Income
CareShield Life Supplement: Singlife CareShield Standard
$500,000 Death
$500,000 TPD
$410,000 Late Stage CI
$70,000 Early Stage CI
$3,000/mth Disability Income
$1,400/mth Long Term Care
Private hospital and private medical institution
Policy year limit: $1,500,000
Cash: $1,916/year
Medisave: $732/year
Cash: $2,253/year
Medisave: $843/year
Parents with DependentsFor working adults with children and elderly parents to care for, often referred to as the “sandwiched generation,” financial pressure can be overwhelming. With the added responsibility of dependents increasing living expenses, savings can be minimal, making it crucial to manage finances wisely.
One way to control costs while ensuring adequate coverage is by opting for term insurance. This approach helps keep insurance expenses low while addressing protection gaps, ultimately providing financial security for both you and your dependents.
Integrated Shield Plan: Enhanced IncomeShield (Basic)
Term Life: MINDEF/MHA Group Term Life
Critical Illness: Singlife Multipay Critical Illness
Occupational Disability Income: Singlife Disability Income
CareShield Life Supplement: Singlife CareShield Standard
$1,000,000 Death
$1,000,000 TPD
$225,000 Late Stage CI
$75,000 Early Stage CI
$3,350/mth Disability Income
$1,400/mth Long Term Care
Public hospital for ward class B1 and below
Policy year limit: $250,000
Cash: $3,277/year
Medisave: $729/year
Cash: $4,221/year
Medisave: $729/year
Integrated Shield Plan: Enhanced IncomeShield (Preferred)
Term Life: Singlife Elite Term II
Critical Illness: Singlife Multipay Critical Illness
Occupational Disability Income: Singlife Disability Income
CareShield Life Supplement: Singlife CareShield Standard
$1,000,000 Death
$1,000,000 TPD
$445,000 Late Stage CI
$75,000 Early Stage CI
$3,350/mth Disability Income
$1,400/mth Long Term Care
Private hospital and private medical institution
Policy year limit: $1,500,000
Cash: $5,748/year
Medisave: $1,200/year
Cash: $6,078/year
Medisave: $1,200/year
Pre-RetireesFor pre-retirees, fine-tuning your insurance is essential as you prepare for retirement. If you have outstanding loans, like a mortgage, a term life insurance policy can help ensure your debts are covered, preventing financial strain on your family in the event of your passing. It’s also important to maintain an Integrated Shield Plan on top of MediShield Life to manage potential hospitalisation expenses, especially as healthcare costs tend to increase with age.
You can always downgrade to a more affordable plan tier later if needed. Additionally, a long-term care plan, such as CareShield Life, is vital for providing financial support in case you become severely disabled and require help with daily activities. To enhance this coverage, consider adding a supplementary plan that boosts the monthly payouts and offers greater protection, giving you and your family peace of mind in managing long-term care costs as you age.
Integrated Shield Plan: Enhanced IncomeShield (Basic)
Term Life: MINDEF/MHA Group Term Life
CareShield Life Supplement: Singlife CareShield Standard
$1,000,000 Death
$1,000,000 TPD
$1,400/mth Long Term Care
Public hospital for ward class B1 and below
Policy year limit: $250,000
Cash: $1,590/year
Medisave: $780/year
Cash: $2,180/year
Medisave: $780/year
Integrated Shield Plan: Enhanced IncomeShield (Preferred)
Term Life: Singlife Elite Term II
CareShield Life Supplement: Singlife CareShield Standard
$1,000,000 Death
$1,000,000 TPD
$1,400/mth Long Term Care
Private hospital and private medical institution
Policy year limit: $1,500,000
Cash: $6,009/year
Medisave: $1,200/year
Cash: $5,139/year
Medisave: $1,200/year
Golden YearsFor retirees in their golden years, it’s crucial to prioritise healthcare and long-term care needs. Maintaining an Integrated Shield Plan is key to covering hospitalisation expenses, especially if you prefer access to private or higher-class hospital wards. This plan, on top of MediShield Life, provides essential protection against rising healthcare costs. If premiums become a concern, you have the option to downgrade to a more affordable tier while still retaining essential coverage.
Additionally, securing long-term care coverage, such as CareShield Life, remains vital. Enhancing this coverage with a supplementary plan can increase the monthly payouts, providing stronger financial support if you become severely disabled and require assistance with daily living activities. This approach ensures peace of mind for both you and your loved ones, knowing that long-term care expenses are well-managed as you age.
Integrated Shield Plan: Enhanced IncomeShield (Basic)
CareShield Life Supplement: Singlife CareShield Standard
$1,400/mth Long Term Care
Public hospital for ward class B1 and below
Policy year limit: $250,000
Cash: $2,202/year
Medisave: $939/year
Cash: $3,073/year
Medisave: $939/year
Integrated Shield Plan: Enhanced IncomeShield (Preferred)
CareShield Life Supplement: Singlife CareShield Standard
$1,400/mth Long Term Care
Private hospital and private medical institution
Policy year limit: $1,500,000
Cash: $3,864/year
Medisave: $1,200/year
Cash: $4,735/year
Medisave: $1,200/year
For coverage calculations (i.e., sums assured), we have used rules of thumb based on the MAS Basic Financial Planning Guide, where available. However, you might need more or less than the recommended coverage. For a more accurate calculation based on your needs, please try the MoneyOwl Insurance Needs Analyser.
Products recommended have a minimum rating of 3.5 stars on 'OwlStar', which is our insurance rating tool for life and health insurance products in the market. While the recommended list is provided, there may be other products that could better suit your needs. Feel free to visit the OwlStar page to explore additional options.
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