Anyone jobless for a long time before? - Page 270 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Anyone jobless for a long time before?

Reply
 
Thread Tools
  #2691 (permalink)  
Old 31-03-2020, 07:32 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Would like to ask people here regarding health insurance. I earn 5k a month, take home around 4k. I spend around 900 dollars on all my health insurance (including hospitalization, term and whole life plans). I have a whole life policy, the Aviva mindef term plan, a hospitalization plan (covers up to private hospital), as well as 2 different critical illness coverage plans.

I would like to ask if that is about right, or am I spending too much? (As at the end of the day, other than my whole life plan, there is no cash value to all my other policies..)
insurance is supposed to take up 10-15% of your salary

Reply With Quote
  #2692 (permalink)  
Old 31-03-2020, 07:53 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Would like to ask people here regarding health insurance. I earn 5k a month, take home around 4k. I spend around 900 dollars on all my health insurance (including hospitalization, term and whole life plans). I have a whole life policy, the Aviva mindef term plan, a hospitalization plan (covers up to private hospital), as well as 2 different critical illness coverage plans.

I would like to ask if that is about right, or am I spending too much? (As at the end of the day, other than my whole life plan, there is no cash value to all my other policies..)
I'm not insurance guy. I also don't believe in insurance. I have no one depending on me so I don't bother buying life insurance. The same reason you don't buy life insurance for your children.

Insurance is meant to be a transfer of risk. You pay money to transfer that risk to insurance company .. if something happen to you .. you are covered. That said, if you are a billionaire, do you need insurance? Hell no. Why? cause if anything happen to you. u can cover yourself!

Or if look at it from religiously, insurance is a man made concept.. you dare insure your life if God want to take your life away?

I personally is poor man. Poor man, everywhere in the world, even in USA if poor no insurance. thats the reality of being poor. Africa they think about insurance or about food?

I only buy insurance to cover if i get into accident need to pay hospital bill etc. If insurance not enuff, can't cover how? Then slowly pay off debt lo. If really really can't pay off how? COmmit suicide. Problem solved. NO need insurance. Buy insurance only make insurance company rich.

Reply With Quote
  #2693 (permalink)  
Old 31-03-2020, 10:17 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Would like to ask people here regarding health insurance. I earn 5k a month, take home around 4k. I spend around 900 dollars on all my health insurance (including hospitalization, term and whole life plans). I have a whole life policy, the Aviva mindef term plan, a hospitalization plan (covers up to private hospital), as well as 2 different critical illness coverage plans.

I would like to ask if that is about right, or am I spending too much? (As at the end of the day, other than my whole life plan, there is no cash value to all my other policies..)

I've always thought that MediShield Life + a good premium rider policy would suffice in most cases, and riders are relatively inexpensive and can be paid for with CPF.

And as for "life insurance" plans, just beware that the companies will find some way to screw around you and pay you an absolutely crap return on your policy's maturity in spite of what was "projected" when you first signed.

Source: parents' life insurance policy matured. Return was 3% (yes, TOTAL returns) over 30 years, needless to say extremely horribly off the projected target returns.

Reply With Quote
  #2694 (permalink)  
Old 01-04-2020, 07:31 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Would like to ask people here regarding health insurance. I earn 5k a month, take home around 4k. I spend around 900 dollars on all my health insurance (including hospitalization, term and whole life plans). I have a whole life policy, the Aviva mindef term plan, a hospitalization plan (covers up to private hospital), as well as 2 different critical illness coverage plans.

I would like to ask if that is about right, or am I spending too much? (As at the end of the day, other than my whole life plan, there is no cash value to all my other policies..)
Way too much, i also make 5K but spend only around $70 on insurance. The difference is I dont have a whole life plan, I ownself invest. Your agent must be very happy.
Reply With Quote
  #2695 (permalink)  
Old 01-04-2020, 08:16 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Would like to ask people here regarding health insurance. I earn 5k a month, take home around 4k. I spend around 900 dollars on all my health insurance (including hospitalization, term and whole life plans). I have a whole life policy, the Aviva mindef term plan, a hospitalization plan (covers up to private hospital), as well as 2 different critical illness coverage plans.

I would like to ask if that is about right, or am I spending too much? (As at the end of the day, other than my whole life plan, there is no cash value to all my other policies..)
A wise man once told me insurance is a man made concept that defies the law of nature. If God mandates its your time to go, its time.

But really insurance is just a transfer of risk. You pay money to transfer the risk of getting accident to an insurance company, so in the 3nd of an accident you're covered.

In another word, insurance is not an investment. You're not supposed to make back what you put in.

Life insurance you only buy during 2 major events in your life. You have people depending on you. So it's when you're married and when you have kids. You don't need to buy life insurance for your children. Just as you would not buy insurance for your cousins or nieces. Nobody life is dependent on them.

Tdlr. Buy just enough insurance to cover accident. Spend the rest in investment.

Why? If you're a billionaires, do you need to be insured? No.
Why? Cause you have the money to cover.
Same logic. Buy insurance to cover hospitalisation etc bills. The rest from passive investment can cover things like income if can't work etc.
Reply With Quote
  #2696 (permalink)  
Old 01-04-2020, 08:50 AM
Concerned Singaporean
Guest
 
Posts: n/a
Default This is the best time to do all the restructuring

Many in 40s and 50s are out of work. Many in 20s as well. We have been talking about economy restructuring to have Singaporean core. Now it is the best time to do it. Instead of splashing money make it a concerted effort where companies are interested to embarked our nation goal to move towards hiring Singaporean and give training with subsidiaries.

Since now is down time and the down time will be months. Why not use this period to spearhead effort and even help organisation restructure their efficiency and effectiveness so when the economy open we are at a better ground then give money?

This is the best time and yet I can not feel the concerted effort to give more clear direction then unemployment rate will climb. Who do not know that?


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote

  #2697 (permalink)  
Old 01-04-2020, 11:01 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Way too much, i also make 5K but spend only around $70 on insurance. The difference is I dont have a whole life plan, I ownself invest. Your agent must be very happy.
May I ask how much coverage you getting with 70 dollar premium insurance?
Reply With Quote
  #2698 (permalink)  
Old 02-04-2020, 12:37 PM
Junior Member
 
Join Date: Mar 2020
Posts: 6
kenneth.lim is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
Would like to ask people here regarding health insurance. I earn 5k a month, take home around 4k. I spend around 900 dollars on all my health insurance (including hospitalization, term and whole life plans). I have a whole life policy, the Aviva mindef term plan, a hospitalization plan (covers up to private hospital), as well as 2 different critical illness coverage plans.

I would like to ask if that is about right, or am I spending too much? (As at the end of the day, other than my whole life plan, there is no cash value to all my other policies..)
Personally, I think too much.

You really only need a hospitalisation plan to cover hospital cost and a term plan that covers death/terminal illness (then just attach riders that accelerate/advance the payout in the event of TPD and CI).

You don't need a whole life plan if you know how to invest and because usually by 70 (which most term plan last until), your liabilities should be lower already (kids all grown up and house all paid for etc) so you don't need a big amount after 70.

Term plans are cheaper because you only pay for the cost of insurance. Of course, they also have no cash value so if you don't die, get TPD, CI or whatever it covers within the policy term then you get nothing.

All those plans like endowment and whole life which have cash value, you are actually paying for cost of insurance plus an investment component (basically giving insurer to help you invest then they take a bit and give you a bit). So, if you know how to invest yourself, you might as well just get a term plan and do the investment portion on your own.
Reply With Quote
  #2699 (permalink)  
Old 04-04-2020, 09:37 AM
Unregistered
Guest
 
Posts: n/a
Default

is it easier to find jobs now?
Reply With Quote
  #2700 (permalink)  
Old 04-04-2020, 10:04 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
is it easier to find jobs now?
Very hard. Now many companies need work from home. Not sure if they will be freezing hiring for the time being.

I applied 70+ jobs this year, but only had 2 interview invitations till now
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Jobless Graduates Should Consider SAF Salary.sg Income and Jobs 63 06-10-2021 07:32 PM
Our Poll Results: 45% Fresh Graduates Jobless Salary.sg Income and Jobs 48 01-07-2020 03:43 PM
How long should i work here? dryden28 Income and Jobs 6 31-08-2010 04:27 PM
65,400 Jobless in September, will be Significantly More Salary.sg Income and Jobs 0 16-01-2009 05:38 PM
Bank executives work long hours Salary.sg Income and Jobs 2 25-05-2008 03:02 PM

» 30 Recent Threads
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
8,323 Replies, 2,425,732 Views
Career as Teacher ( 1 2 3... Last Page)
5,629 Replies, 3,513,750 Views
Compare civil service salary ( 1 2 3... Last Page)
14,238 Replies, 8,934,638 Views
ST Electronics ( 1 2 3... Last Page)
2,803 Replies, 850,121 Views
Roles in accenture singapore ( 1 2 3... Last Page)
4,813 Replies, 966,017 Views
DBS tech seed programme ( 1 2 3... Last Page)
2,163 Replies, 574,150 Views
Lawyer Salary ( 1 2 3... Last Page)
17,167 Replies, 6,464,688 Views
High Finance Thread ( 1 2 3... Last Page)
1,166 Replies, 257,642 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
964 Replies, 634,338 Views
GovTech ( 1 2 3... Last Page)
3,186 Replies, 860,579 Views
Micron starting pay ( 1 2 3... Last Page)
451 Replies, 163,473 Views
Jumping into the tech private... ( 1 2 3... Last Page)
41 Replies, 7,178 Views
Alibaba
2 Replies, 360 Views
Official 2022 Retrechment thread ( 1 2 3... Last Page)
88 Replies, 10,638 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,605 Replies, 2,030,650 Views
Engineer Pay ( 1 2 3... Last Page)
470 Replies, 243,614 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
127 Replies, 205,457 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
1,062 Replies, 378,173 Views
How is life as a doctor in... ( 1 2 3... Last Page)
3,973 Replies, 1,926,988 Views
Changi Airport Group ( 1 2 3... Last Page)
458 Replies, 458,090 Views
Bnp paribas graduate ( 1 2 3... Last Page)
190 Replies, 100,144 Views
Comp Science Frsh Grad Salary ( 1 2 3... Last Page)
632 Replies, 160,646 Views
Open Government Products (under... ( 1 2)
14 Replies, 1,459 Views
2022 Full time/Summer internship... ( 1 2)
17 Replies, 2,631 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,064 Replies, 2,941,988 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
514 Replies, 144,728 Views
Polytechnic lecturer salary range ( 1 2 3)
25 Replies, 79,587 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
231 Replies, 253,791 Views
Band 4 and Band 5 in Standard... ( 1 2 3... Last Page)
49 Replies, 70,685 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,613 Replies, 3,102,311 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 09:05 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2