How much Life Insurance is needed for Critical Illness, Death and Total Permanent Disability?

This is Part 2 of the art­icle on $0 Med­ic­al Insur­ance: is it pos­sible?. In Part 1 of the art­icle, I recom­men­ded that one should pur­chase as-charged integ­rated shield plan (ISP) offered by insur­ance com­pan­ies and the riders for the ISP so as to cov­er all med­ic­al expenses required for treat­ments in hos­pit­al, effect­ively cut­ting it down to $0.

This art­icle revis­its the top­ic on life insur­ance but in great­er depth. The sum assured for life insur­ance and estim­ated premi­um required for the cov­er­age; early-stage crit­ic­al ill­ness plan and how it com­pares to the tra­di­tion­al advanced-stage crit­ic­al ill­ness plan are cla­ri­fied in this art­icle.

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Silver Tsunami hitting Singapore: can we survive?

Sil­ver Tsunami is a term used to describe the enorm­ous fin­an­cial resources required to sup­port the high pro­por­tion of seni­or cit­izens age 65 years old and above in a coun­try. It will attack most developed coun­tries like Singa­pore in near future. The daunt­ing truth is, by 2030, about 23% of Singa­pore pop­u­la­tion will be aged 65 and above, lag­ging behind Japan only. The medi­an age will be 41 then and will rise to 54 by 2050, trail­ing behind only Japan, South Korea and Macau (see Singa­pore faces ‘sil­ver tsunami’ in Asi­aTime Online). What can we do to weath­er the Tsunami in time to come…?

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