Disability Income

I love to eat cakes. Last week, as I was shopping for my favourite tiramisu, I realised the price has jumped some 15%! It is no longer the 2 year ago price of $6.80/pc....

It is undeniable that we are now living in a higher-priced/inflation environment. Day in, day out, a lot of people are complaining about the increased costs of living.
As a financial advisor, I start to think, how will these people cope if they are incapacitated with an unforseen disease or disabilityin the midst of a rising-cost environment?
How to cope and combat a double whammy? Inflation and incapacitation ?

For inflation, well, at least make sure your hard earned money is not just sitting in the fixed deposits in the banks...Make it work harder!
As for incapacitation, Singaporeans/PRs who have turned 40yrs old, should upgrade their existing Eldershield plan to top-up their existing benefits. The current payout by government of $300 per month in the event of disability is hardly enough to cope in today's standard of living.

Many people are insured in Singapore but not many have included disability income plan in their portfolio.
There are many forms of disability. Just upgrade your existing plan, to an Eldershield supplement. At least if you are unable to perform 3 out of 6 activities of daily living, ie transferring,mobility,toileting,washing,dressing or feeding, you are entitled to a larger monthly payout than the current $300/400 per month benfit.

There are 3 insurers offering such enhancements. One of the more competitive ones is AvivaMyCare. Please visit URL below:-

http://www.aviva-singapore.com.sg/ElderShield/pdf/mycare_brochure.pdf