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Gladys Tan

Financial Consultant

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3 Tips to Help You Potentially Pay Less & Get More Insurance Coverage

Updated: Jun 4, 2021

Do you feel like you are overpaying for your insurance portfolio? 💸



If you said YES, read on to check out 3 tips 💡 on how you can potentially PAY LESS & GET MORE 📢


✔️ Constantly review your portfolio 📒


Singapore’s mortality rate is decreasing year-on-year and this translates to a downward revision of mortality rates for life insurance. This means you can potentially pay less for the same, if not more cover, even if you are now older!


✔️ Eradicate unnecessary, duplicate riders ❎


Riders work well when they are designed to reduce or eliminate additional expenses. But if they don’t serve the above purpose, then less is more. Find out what each rider does for you and decide if you need them.


✔️ Prioritise the must-haves first ❗


We may not have the resources to construct an entire portfolio in one sitting and that’s okay. Work on top priorities such as Health Insurance and Critical Illness (+ Death cover for individuals with dependents).


A general rule of thumb 👍🏻 for singles is no more than 10% of your income should be allocated to insurance. For families and individuals with dependents, we keep it to <15%.


ℹ️ If you need any help or advice on your insurance portfolio, email me today.

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