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How to save and be protected while working in Singapore.

Hello po mga kababayans!

Meron po ba dito na concern ang savings or protection while working in Singapore? Some of us are very sceptical in taking any insurance. Pero ano nga po ba ang importance nito? ano po ba ang kadalasan na dahilan bakit marami pa din sa atin ang hindi convinced sa concept of insurance?

I guess only those who value their family and loved ones ng sobra sobra at ang mga bread winners natin ang siyang tunay na nagpapahalaga sa sarili. Hope more of our kababayans will take advantage of being protected and to save at the same time habang andito sa Singapore. And some of us are not getting any younger too. Might be too late for the others.

Comments

  • Dahil sa mga reputasyon ng mga insurance companies satin. Pinaghirapan mong hulugan tapos kapag kukunin mo na wala na. Halimbawa, Kinabukasan ng mga bata na dapat pang tuition ang sinisira.

    Sasabihin mo iba naman dito. Masisisi mo ba sila kung dala nila yung pagiisip na yun? Hay naku buhay ......
  • I was also contemplating with this.

    Di ko alam if dapat ba kami kumuha ng personal life/medical insurance.

    I was so skeptical dahil nga yung nangyari sa CAP sa Pinas. They were very reputable until ayun na nga.

    Insurance companies are well, companies after all. Hindi yan bullet-proof sa pagkalugi. Remember, maghuhulog ka ng napakatagal, after 10, 20 or 30 years, sure ka ba na buhay pa din yung company?

    For families, I can see super beneficial neto, pero for singles like us, I don't know yet.

    We are still thinking. Contemplating. Pero for now, lahat ng extrang pera, nasa savings muna. In due time siguro. 50-50 pa din ang opinion ko sa insurance policies.

    Any advise?
  • @jrdnprs when you said medical, are you referring to hospitalization? if yes, it is a must in Singapore. otherwise all your savings will go down the drain, if incase something happens to you. the cost is minimal compared to the protection you will get.
  • @Admin , I am still thinking enough yung $15k na insurance for SPass holders that's why hesitant pa din kumuha ng bukod na policy.
  • Meron mga free public seminars by Singapore Polytechnic (Institute for Financial Literacy)

    https://finlit.sg/public-events/

    Gusto ko nga puntahan yung "Oct 11: 7pm - Assessing your insurance needs"

    daming mga iba ibang topics about investing and general financial well being. Mas maganda yung pumunta sa ganito na hindi ka bebentahan at ang only motive nila is to educate the community.
    jrdnprs
  • @jrdnprs kung S$15k na medical/hospitalization insurance, dito kulang yan kung critical illness, baka 2weeks lang yan na hospitalization for critical illness or cases of surgery.

    kung life insurance naman, depende kung single, death or total disability $S15k, siguro sapat na kung wala naman maiiwan na dependants. pero kung may pamilya/dependents, isipin mo gano katagal aabot yung S$15k sa kanila after death/disability, sapat ba yun for them to start over or lay some foundation para mag generate ng income.
    jrdnprs
  • edited September 19
    @rexhynson
    Diretso na brother, saang Insurer ka?
    Vincent17
  • Hello po mga kababayan!

    @AhKuan sang-ayon po ako sa inyo. Meron tlgang mga doubts like this kasi sa atin madaming company ang ngsara at halos un iba walang nahabol sa mga naihulog nila. Kahit ako mismo 3 years ago ay duda sa concept or idea na ito. But then un financial consultant ko from AIA na nameet ko 3 years ago change my perception kung paano tlga ako makakapagsave at my protection at the same time. Nung una takot ako pumunta at makipagmeet to discuss this kasi bka scam/modus or bka sapilitan na kumuha ka pero hindi naman. No obligations xa so it's still up to you if kukuha ka or not. libre naman ang consultation.

    @jrdnprs mahirap po tlga kapag sceptical ka but then we all know how important po ang maging protected as well ang to save. The usual thing I suggest is to do research about the company. Presence nila sa country kung saan ka kukuha, presence nila internationally, feedbacks, performance information, ito ang ilan sa mga factors that can help you whether sila ba ay trustworthy or not. Big companies normally have reinsurance meaning insured sila just in case anything happen. Besides dito sa Singapore all financial institutions including banks and insurance companies are monitored ng MAS (Monetary Authority of Singapore) so regulated tlga sila. All consultants as well have to take licensure bago magwork. Maybe we can meet up someday for this para naman lahat ng questions mo you can address.

    @Admin yes true po ito. Been working here sa Singapore for almost 8 years and I didn't thought na totoo nga po ito. Very expensive ang maospital dito. Ung Mag MC ka nga lng mgkano na what more un maospital ka. So bka lahat ng naipon mo dun lng mapunta. I had a friend working in a restaurant and she accidentally cut herself, umabot ng $16,000 ang bill nya dahil lng dun.

    @JuanDeLaCruz good to share po ito for our mga kababayan. Hope to see you po sa event na ito. Planning to go as well. :-)

    @tambay7 tama po kau. Everything here is expensive including hospitalization. Normally kpg life insurance dapat at least ten times ng annual income mo to support your family especially kung bread winner ka.

    @carpejem from AIA po ako. Just here to raise awareness sa mga kapwa kababayan natin na andto. :-)
  • @rexhynson Hi bro, good to know na may mga kababayan din pa lang nasa insurance business dito sa SG.
    Recently, nag join din ako sa Prudential. Hoping na matutunan ko din yung ganitong trade. Any tips or suggestions bro para maging successful sa ganitong profession? Salamat po.
  • Hello po! Covered pa po ba ang worker ng PH insurance nya even though OFW sya working in another country?
  • @mna Depende yan sa coverage ng Insurance mo. Dito sa SG, (covered kahit sa Pinas yung policy namin)
    mna
  • Pano po malalaman if covered even if working abroad po @carpejem ? Thanks!
  • @mna ask your insurer. Relatively, you should know that from the start.
  • @mna ask your insurance agent/financial agent
    depende sa klase ng insurance yan, kung hospitalization/medical tapos sa Pinas yung plan, tapos dito ka na hospital abroad malamang di yan covered unless global/regional insurance binili mo, pero may mga limit yan at restrictions.
    kung term/life/vul naman, kung death/disability covered yan usually kahit nasa abroad ka.

    to be sure, sa insurance company kung saan ka may plan mo itatanong yan, kasi bawat policy iba ang rules/restrictions/coverage, mas accurate kung sa kanila ka mgtatanong.
    mna
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