When it comes to financial planning, buying a life insurance plan is essential. The increasing use of technology has helped people optimise their health by improving personal life expectancy because of easy access to the latest health-tracking devices and equipment.
The high medical bills include expenses incurred for medicines and hospitalization. The situation has changed now, and people look for something that can offer them protection in the future. You can come across coverage plans with the best life insurance quotes and affordable premiums to help you have a suitable insurance policy.
If you have a good understanding of various insurance plans and a close look at the features and benefits before selecting the suitable one, you can save money. It will help you protect yourself from financial pitfalls during critical times.
How to choose the best life insurance policy?
Finding suitable coverage for your lifestyle is very tricky. Life insurance plans have several benefits these days. You can buy a policy that helps you meet hospital expenses and save money as well.
For instance, an insurance plan like ProtectFirst from DBS offers people who still don’t have insurance a starter plan, affordable, quick, and convenient to start. The insurance covers five critical illnesses, including the early stages and life protection and accidents.
You can choose the plan that suits your lifestyle and income. Such easy, affordable, and hassle-free health coverage plans encourage younger customers to take insurance coverage in Singapore at a low premium of S$5/month. Customers are guaranteed to get essential insurance coverage based on their needs and budgets.
What are the benefits of taking insurance coverage?
Life insurance signifies transferring the risk of unforeseen medical expenses to the life insurance company. It covers medical conditions such as medical expenses, critical illness at the beginning stage, hospitalization, accidents, and surgeries. Life insurance policies are available from private concerns. Some of the features and benefits of buying insurance are:
- Several reputed financial companies offer insurance coverage with a three-step signup process. The starters or young customers can take insurance policy by answering three simple questions. They do not need to undergo any medical check-ups to own the insurance coverage.
- Customers can choose any insurance plan and the premium that suits them the most. For instance, ProtectFirst offers three types of life insurance coverage and they are:
- Advocate: It covers critical illness.
- Adventurer: You can have increased accident cover under this plan.
- Defender: With this coverage, you can set aside a big amount for your family
- A customer of any age can start a life insurance policy with a minimum premium of S$5/month in Singapore.
- Protection coverage protects the customer with coverage2 against cancer, heart attack, stroke, liver failure, and major organ/bone marrow transplantation from the beginning stage. It also protects life and serious accidents.
- Protection Continuity even after a claim – The coverage offers independent benefits. Even after receiving a claim and maximum compensation, the customer will continue getting coverage on the rest of the benefits, except death benefits.
Before buying insurance coverage, you should go through the policy specification and guidelines. Also, get the best life insurance quotes to help you choose a suitable plan base on your budget. Choose the insurance coverage wisely, for it is essential when making a claim. You can also seek the help of a digital AI-powered financial planning tool or planner or consult with financial planning managers to find out more about an insurance plan.