Today i met up with Amy to change my term plan to an investment linked policy that comes with some returns. But i totally forgotten that i have got another AIA policy which was also an investment linked account. With these 2 policies add into my endowment and other medical policies, my premiums every month goes up to $450. That was quite a bit of miscalculation but i think it is quite worth it.
This new plan that i took comes with the usual 300k coverage for total death, critical illness or disability up to the age of 99. In the event if i am very blessed with good health and i can live up to 100 years old which is unlikely, I will still get back some money. Better then holding on to term plan which is zero returns. I just treat them as forced savings every month.
I have read many articles about the escalating cost of every thing in Singapore especially education and living expenses. Degree is like the most minimum certification you need to get into any job position nowadays, lets not say 20 years later. I hope what i am saving now is enough for Ryann but i am sure i cant afford a 2nd child now.
Just happen to google this and thought it would be nice to share. Happy reading
http://www.ocbc.com.sg/downloads/banking/Maybe%20Baby%20Seminar_Nov%2029_released.pdf
Thursday, 9 April 2009
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