Karen Tang, CFP®: Certified Financial Planner in Singapore

Insurance Planning

Life Stage Planning – Make Financial Planning Part of Life Planning

  Just like how financial markets fluctuate, your finances and financial needs will also change with time. Fortunately, it is easier to predict the changes in your financial life stages than it is to predict the direction of the markets. Generally, most people pass through three primary financial life stages as they age. While not …

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How Much Life Insurance Do You Really Need?

How Much Life Insurance Do You Really Need? Everyone needs insurance, whether you are a young working adult, a new parent, a homemaker, or a retiree. According to the Life Insurance Association (LIA) Singapore, the mortality protection gap represents the financial gap to cover dependents’ needs such as outstanding mortgage and car loans, children’s needs …

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Banking on Your Employee Benefits Insurance? Think Again.

Most employees do not pay attention to their employee benefits insurance until a medical claim arises. And there are those who think they have adequate coverage given by the company, without checking exactly what they are covered for. So, does it make sense to depend on your employee benefits completely for your protection needs? Or …

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3 Compelling Reasons Why A Multi-pay Critical Illness Cover Is Your Best Bet for Comprehensive Protection in Singapore

Even the fittest and most health-conscious individuals are not spared from diseases and illnesses. They can strike when least unexpected. The top 3 common illnesses in Singapore are cancer, stroke and heart attack. Treatments, tests, surgeries and therapies for these can cost a bomb. Worse still, they can recur, even many years after remission.   …

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In Two Minds About Enhancing Your Long Term Care Protection? Here are 5 Facts That You Can’t Ignore!

ElderShield is a severe disability insurance plan which provides basic financial protection for long-term care. It pays out $300/month or $400/month, for up to 5 and 6 years respectively, if you’re disabled i.e. defined as inability to do 3 out of 6 specific activities of daily living independently. This cash payout is meant to help …

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Singaporeans are Critically Lacking in Critical Illness Protection. Are you one of them?

The Straits Times article published on 27 April 2018 “Singaporeans Lack Critical Illness Insurance Cover: Study” revealed that people here have a huge shortfall in their critical illness protection. The policies they own can meet only 20% of their needs, if a critical illness were to occur. Question: What is adequate protection in the event you …

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Financial Planning for Women in Singapore

The Straits Times article “Why Women Need to Focus on Financial Planning” published on March 4, 2018 reiterated how important it is for us women, whether single or married, younger or older, to be in charge of our own finances. Budgeting, cash flow management, retirement planning, being adequately protected for the unexpected like critical illness, long term …

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Disability Income Insurance in Singapore

9 out of 10 people I speak to have not heard about Disability Income Insurance (DII). They assume that Total and Permanent Disability (TPD), which almost all of them have in their life coverage, is the blanket disability definition across all life insurance products. But they are wrong. Many folks have different enhancements (i.e.riders) to TPD like Enhanced …

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