People Over 50 Health Insurance: Choosing the Right Health Insurance

People will be getting older. The health and life insurance is important for them especially for people over 50. Over 50 health insurance is important because of some reasons. The first reason is the expenses of caring for older people are expensive. If you have a health insurance, your family will not cost much money for gets a decent burial. The insurance will cover all of the cost. Another reason is that you can save some money you have accumulated in the rest of your life to your son or grandson. It can be your inheritance for your family.

How Does Over 50 Health Insurance Work?

The common health insurance is same with this health insurance. There is only one difference between over 50 health insurance and other health insurance is no cash in this insurance. So, it will be better for the insurers to save and keep up their payment to get cash. This insurance allows the insurers to have no medical check up, but they can remain the policy. They do not need to show their premedical conditions before having this insurance.

If the insurers can keep their medical conditions and health for about two years, they can get a payout. If they are passed away before the two year period over, their family can have the payout. It is like mutualism symbiosis and it is one of the benefits for over 50 health insurance. There is an exception to make the payout happen. It has only happened for those who cannot survive for two years and die because of an accident. It is a clear policy for this insurance.

Know the Insurance Types

There are some types of health insurance covering health. They are individual insurance, family insurance, and group insurance. People can have health insurance privately if they do not have any insurance from the company they working for. Private health insurance or personal health insurance is one of the insurance that can cover all the medical insurance. This insurance allows the insurers to refuse the coverage granted if they do not need it. This personal insurance is available for all people, including the insurance for people over 50.

The next type is the family health insurance. This insurance has a similar usage as personal insurance because they are promoted from the same label. This insurance will cover up all the insurance of the family member. If you are living with your whole family member, it will be better to choose this insurance. Although you have an insurance for your company, one of the members in the family will not count to get the health insurance. So, you can use family insurance to save some budget in medical problems.

The last type is group health insurance. This insurance does not include for over 50 health insurance. This insurance is held by a huge corporation to make health or medical plans for the employee. So, this insurance prefers to the big companies because it will cover up the employees' entire health problem. For a small business company, it may be they have to think again if they want to use such health insurance for the employee.

What Is The Benefit Of Short Term Insurance?

One of the most popular insurance is the short term insurance. This kind of insurance is famous today because of the affordable price of it. People in old age do not know the health plan of their life. This short term insurance will be the best over 50 health insurance. The insurers do not have to be worried if they are getting older and have no job. They can choose this insurance that has a low price and good policy.

There are health insurance companies that offer the best deal for over 50 health insurance. They have at best police for people over 50 with less pay. This health insurance is designed especially for senior citizens that will give benefit for them. They offer a temporary insurance as a limited period insurance. The periods can be either for six or 12 months. This insurance covers all illness and accident.

This short term insurance is working in a same way with the long term insurance. It is same with another type of health insurance. The differences between these short terms with another health insurance are that the insurers will have a health card. This card is used as the limitation time of the insurance as the taxation of the service from the company and for the policy that the company gives. It will help to save money for the insurers.

This short term insurance is designed in easy way not to make the insurers burdening. This insurance does not need a pre existing medical condition of the insurers. This insurance is focused on the main health problem of the insurers. This is the best insurance for over 50 health insurance because it helps them to get health insurance with easy policy and not burdening them and protects them to solve their medical problem.

The Best Over 50 Health Insurance

The affordable and inexpensive over 50 health insurance is one of the senior citizens looking for. People will get older and older. Health and life insurance are the most important thing for them. If they do not get insurance from their company, they will try to find one the best for them because of people over 50, health is the most problem for them. They have to be selected to make a choice for health insurance. Rethink before choosing a health insurance and choose the one that provides many benefits for the insurers.

Many people know that every insurance company will ensure the healthy and young, but people not always be in healthy and young. For the senior citizens, they have to choose the right insurance. Life and health insurance for people over 50 has reasonable and affordable price. The policy is not making the insurers burdening. If they are no longer working for any company, individual or personal, the insurance with short term is the best choice.

There’s still time to get a health plan for 2016

Consumers have until Jan. 31 to sign up for a health plan for 2016 coverage. People who do not have a health plan for 2016 face a penalty on their taxes of 2.5 percent of their income or $695 per person, whichever is higher. Read more about the tax penalty.

If you are still looking for a health plan, you check our state’s health insurance exchange, Washington Healthplanfinder to find out if you qualify for financial help, including tax credits that may lower the cost of coverage. 

If you do not qualify for help with your health insurance, you can contact an insurance agent or broker directly to find out what your plan options are. You can look at the 2016 individual plans and rates on our website.

Read some tips from us about things you should consider when shopping for a health plan.

After Jan. 31, you’ll have to qualify for a special enrollment period to sign up or make a change to your plan, or wait until the 2017 open enrollment period.

Questions? You can contact our consumer advocates online or at 1-800-562-6900.

My Life In 2015 And New Year Resolutions for 2016

This is the last week before the year 2015 comes to an end. Another year went pass just like that again. I wrote some reflections for the year 2015 at the beginning of this month. You can read the post here if you've missed it out.

I did not write much about my investments and also my financial journey in that previous post so I will put it in this post.

Stocks Investment for 2015

This year was not really a good year for investments. A couple of the stocks which I invest in were down quite badly with a few others gaining such as the biggest holding in my portfolio, Saizen Reit, which was acquired by another company. This helped to offset the losses on the other stocks in my portfolio. Overall, the STI is down about -15% for the whole of 2015.

To date, my portfolio is close to $40K now which is about 50% of my investment capital. I have added in some counters such as the banks (DBS and OCBC) and the STI ETF when the market went down badly. All these which I added recently are all in positive territory at the moment. Overall, the portfolio is only up by about 3%. In total I have 14 stocks in my portfolio now. The returns are not that fantastic but I should be happy that my portfolio is not as bad as a -15% loss as that of the STI. 

Income and Expenditure for the year 2015

Having a financial blog is incomplete without writing on my financial journey. This blog is about my financial journey and how I strive to achieve financial independence. Although money is not the most important thing in life, it is still necessary to provide for our families and for our livelihood. 

Since I started this blog, I learned to create more income including passive income. The main purpose of this is to not rely just on my main job for income but to create contingency plans. I have seen people, both young and old, being retrenched by their company and its not a good feeling to have. 

My income now comes from these sources: Salary from job, income from blog, dividends from stocks and commissions from freelance consultancy work. 

Here's the chart which shows my financial journey:

My expenses has increased which is what I also wanted. I am going to focus on creating more income instead of just saving for the sake of saving money. I want to live a more fulfilling life where there is certain enjoyment and spending more on my love ones.

Passive income and other income has been rather consistent this year and adds up to about $9K for the whole year of 2015.


New Year Resolutions for 2016

2015 has been a year of experiences for me again. I felt like there were a lot of things happening and felt tired for the year. I haven't took much leave this year and no MC as well. In fact, I only took 2 days of leave so far for the whole year.

Nevertheless, it was a fulfilling year. The people I met, the new things I embark on and starting a new relationship was the summary for 2015. Now, its time to look forward to a new year 2016. This is what I hope to achieve or do next:

1) Advancing in my career

I've been in the same job for the past 5 years plus. Its a long long time especially for young people nowadays who change jobs every few years in order to advance and climb to a higher level. It seems like in most companies, employees who stay long do not advance as fast as people who change jobs.

I have been looking for more opportunities and will continue to look for more opportunities to advance in my career. I hope to at least get to the management level where I can do more and learn more. This will also greatly increase my income. I will be looking into policy or research related jobs which has been my interest all these while.

2) Eating Healthily and exercising

I have been eating more vegetable and more salads and will continue to do so next year. I have also been going to the gym every week and will continue this habit that I build into the new year. All these were a result of motivation of my girlfriend who is health conscious. I am happy to live more healthily. Health is wealth.

3) Having a more balanced life   

As mentioned earlier, I will be less tight on money and will spend when necessary. For example, I seldom took taxi in the past but am taking more now to save time. I am increasing my expenses but will still keep it in check. I have almost doubled my expenses as compared to the beginning of this year. Its not so scary to spend a little bit more money on people and things that matter to us.

4) The 100K savings challenge

I set a financial target of $100K to reach by year 2016 since I started this blog 2 years ago. Next year is the year already. I am on track to reach that target by mid of 2016. The focus will still be on increasing my income. Its not just about earning money but about believing that I have the potential do more and achieve more.

5)  Loving people in my life 

Life is all about relationships. I've been meeting many people since I started blogging. In the midst of busyness, I will constantly remind myself to set aside time and love the people who are in my life. In the new year, I will make more effort to keep in touch with old friends and continue to spend time with my family and also continue to put in effort for my new relationship with my girlfriend. I am looking forward to the new life I will embark on with her.



Its the new year in a few days time. I will be going for a short overseas trip over the new year to recharge and relax to prepare for a better 2016. Thank you all readers who have been supporting and reading my blog all these while.

Here's wishing all of you Happy New Year and a greater year ahead!

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80C for FY 2014-15 for FY 2015-16

Income Tax Guide - Section 80 Deductions (For FY 2014-15 (with changes listed for FY 2015-16))
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Deductions on Section 80C, 80CCC & 80CCD

Section 80C
 The deduction under section 80C is allowed from your Gross Total Income. These are available to an Individual or a HUF. The deduction is allowed for various investments, expenses and payments.
 Total Deduction under section 80C, 80CCC and 80CCD (1) together cannot exceed Rs 1, 50,000 for the financial year 2014-15 (assessment year 2015-16). The limit for financial year 2015-16 is also Rs 1, 50,000.

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Section 80CCC: Deduction in respect of Premium Paid for Annuity Plan of LIC or Other Insurer

This section provides deduction to an Individual for any amount paid or deposited in any annuity plan of LIC or any other insurer for receiving pension from a fund referred to in Section 10(23AAB).
 In case the annuity is surrendered before the date of its maturity, the surrender value is taxable in the year of receipt.

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Section 80CCD: Deduction in respect of Contribution to Pension Account

For FY 2014-15 (assessment year 2015-16)
 Total Deduction under Section 80C, 80CCC and 80CCD (1) cannot exceed Rs 1, 50,000.
 For FY 2015-16 (assessment year 2016-17)
 A new section 80CCD (1B) has been introduced to provide for additional deduction for amount contributed to NPS of up to Rs 50,000.
 Therefore for financial year 2015-16, Total Deduction under Section 80C, 80CCC, 80CCD (1) and 80 CCD (1B) cannot exceed Rs 2, 00,000.
 From assessment year 2012-13, employer's contribution under section 80CCD (2) towards NPS is outside the monetary ceiling mentioned above.

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Deductions on Savings Bank Account

Section 80 TTA: Deduction from gross total income with respect to any Income by way of Interest on Savings account

Deduction from gross total income of an individual or HUF, up to a maximum of Rs. 10,000/-, in respect of interest on deposits in savings account with a bank, co-operative society or post office. Section 80TTA deduction is not available on interest income from fixed deposits.

Section 80GG: Deduction with respect to House Rent Paid
 • This deduction is available for rent paid when HRA is not received. Assesses or his spouse or minor child should not own residential accommodation at the place of employment.
 • Assesses should not be in receipt of house rent allowance.
 • He should not have self occupied residential premises in any other place.
 Deduction available is the least of
 1. Rent paid minus 10% of total income
 2. Rs. 2000/- per month
 3. 25% of total income

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Section 80E: Deduction with respect to Interest on Loan for Higher Studies

Deduction in respect of interest on loan taken for pursuing higher education. This loan is taken for higher education for the assesses, spouse or children or for a student for whom the assesses is a legal guardian.

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Section 80EE: Deductions on Home Loan Interest for First Time Home Owners

This section provided deduction on the Home Loan Interest paid and is valid for financial years 2013-14 & 2014-15 (Assessment year 2014-15 and 2015-16) only. The deduction under this section is available only to Individuals for first house purchased where the value of the house is Rs 40lakhs or less and loan taken for the house is Rs 25lakhs or less. And the Loan has been sanctioned between 01.04.2013 to 31.03.2014. The total deduction allowed under this section is Rs 1, 00,000.

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Section 80CCG: Rajiv Gandhi Equity Saving Scheme (RGESS)

The Rajiv Gandhi Equity Saving Scheme (RGESS) was launched after the 2012 Budget. Investors whose gross total income is less than Rs. 12 lakhs can invest in this scheme. Upon fulfillment of conditions laid down in the section, the deduction is lower of - 50% of amount invested in equity shares or Rs 25,000.

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Section 80D: Deduction in respect of Medical Insurance

For financial year 2014-15 - Deduction is available up to Rs. 15,000/- to an assesses for insurance of self, spouse and dependent children. If individual or spouse is more than 60 years old the deduction available is Rs 20,000. An additional deduction for insurance of parents (father or mother or both) is available to the extent of Rs. 15,000/- if less than 60 years old and Rs 20,000 if parents are more than 60 years old. Therefore, the maximum deduction available under this section is to the extent of Rs. 40,000/-. (From AY 2013-14, within the existing limit a deduction of up to Rs. 5,000 for preventive health check-up is available).
 For financial year 2015-16 – Deduction is raised from Rs 15,000 to Rs 25,000. The deduction for senior citizens is raised from Rs 20,000 to Rs 30,000. For uninsured super senior citizens (more than 80 years old) medical expenditure incurred up to Rs 30,000 shall be allowed as a deduction under section 80D. However, total deduction for health insurance premium and medical expenses for parents shall be limited to Rs 30,000.

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Deductions on Medical Expenditure for a Handicapped Relative

Section 80DD: Deduction in respect of Rehabilitation of Handicapped Dependent Relative
 Deduction is available on:
 1. expenditure incurred on medical treatment, (including nursing), training and rehabilitation of handicapped dependent relative
 2. Payment or deposit to specified scheme for maintenance of dependent handicapped relative.
 Where disability is 40% or more but less than 80% - fixed deduction of Rs 50,000. Where there is severe disability (disability is 80% or more) – fixed deduction of Rs 1, 00,000.A certificate of disability is required from prescribed medical authority.
 Note: A person with 'severe disability' means a person with 80% or more of one or more disabilities as outlined in section 56(4) of the 'Persons with disabilities (Equal opportunities, protection of rights and full participation)' Act.
 For financial year 2015-16 – The deduction limit of Rs 50,000 has been raised to Rs 75,000 and Rs 1, 00,000 has been raised to Rs 1, 25,000.

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Deductions on Medical Expenditure on Self or Dependent Relative

Section 80DDB: Deduction in respect of Medical Expenditure on Self or Dependent Relative
 A deduction to the extent of Rs. 40,000/- or the amount actually paid, whichever is less is available for expenditure actually incurred by resident assesses on himself or dependent relative for medical treatment of specified disease or ailment. The diseases have been specified in Rule 11DD. A certificate in form 10 I is to be furnished by the assesses from any Registered Doctor.
 In case of senior citizen the deduction can be claimed up to Rs 60,000 or amount actually paid, whichever is less.
 For financial year 2015-16 – for very senior citizens Rs 80,000 is the maximum deduction that can be claimed.

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Section 80U: Deduction with respect to Person suffering from Physical Disability

Deduction of Rs. 50,000/- to an individual who suffers from a physical disability (including blindness) or mental retardation. Further, if the individual is a person with severe disability, deduction of Rs. 100,000/- shall be available u/s 80U. Certificate should be obtained from a Govt. Doctor. The relevant rule is Rule 11D.
 For financial year 2015-16 – The deduction limit of Rs 50,000 has been raised to Rs 75,000 and Rs 1, 00,000 has been raised to Rs 1, 25,000.

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Section 80G: Deduction for donations towards Social Causes

The various donations specified in Sec. 80G are eligible for deduction up to either 100% or 50% with or without restriction as provided in Sec. 80G. 80G deduction not applicable in case donation is done in form of cash for amount over Rs 10,000.
 Donations with 100% deduction without any qualifying limit:
 • National Defense Fund set up by the Central Government
 • Prime Minister's National Relief Fund
 • National Foundation for Communal Harmony
 • An approved university/educational institution of National eminence
 • Zila Saksharta Samiti constituted in any district under the chairmanship of the Collector of that district
 • Fund set up by a State Government for the medical relief to the poor
 • National Illness Assistance Fund
 • National Blood Transfusion Council or to any State Blood Transfusion Council
 • National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities
 • National Sports Fund
 • National Cultural Fund
 • Fund for Technology Development and Application
 • National Children's Fund
 • Chief Minister's Relief Fund or Lieutenant Governor's Relief Fund with respect to any State or Union Territory
 • the Army Central Welfare Fund or the Indian Naval Benevolent Fund or the Air Force Central Welfare Fund, Andhra Pradesh Chief Minister's Cyclone Relief Fund, 1996
 • The Maharashtra Chief Minister's Relief Fund during October 1, 1993 and October 6,1993
 • Chief Minister's Earthquake Relief Fund, Maharashtra
 • Any fund set up by the State Government of Gujarat exclusively for providing relief to the victims of earthquake in Gujarat
 • Any trust, institution or fund to which Section 80G(5C) applies for providing relief to the victims of earthquake in Gujarat (contribution made during January 26, 2001 and September 30, 2001) or
 • Prime Minister's Armenia Earthquake Relief Fund
 • Africa (Public Contributions — India) Fund
 • Swachh Bharat Kosh (applicable from financial year 2014-15)
 • Clean Ganga Fund (applicable from financial year 2014-15)
 • National Fund for Control of Drug Abuse (applicable from financial year 2015-16)
 Donations with 50% deduction without any qualifying limit.
 • Jawaharlal Nehru Memorial Fund
 • Prime Minister's Drought Relief Fund
 • Indira Gandhi Memorial Trust
 • The Rajiv Gandhi Foundation
 Donations to the following are eligible for 100% deduction subject to 10% of adjusted gross total income
 • Government or any approved local authority, institution or association to be utilized for the purpose of promoting family planning
 • Donation by a Company to the Indian Olympic Association or to any other notified association or institution established in India for the development of infrastructure for sports and games in India or the sponsorship of sports and games in India.

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Donations to the following are eligible for 50% deduction subject to 10% of adjusted gross total income

• Any other fund or any institution which satisfies conditions mentioned in Section 80G(5)
 • Government or any local authority to be utilized for any charitable purpose other than the purpose of promoting family planning
 • Any authority constituted in India for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns, villages or both
 • Any corporation referred in Section 10(26BB) for promoting interest of minority community
 • For repairs or renovation of any notified temple, mosque, gurudwara, church or other place.

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Section 80GGB: Deduction in respect of contributions given by companies to Political Parties

Deduction is allowed to an Indian company for amount contributed by it to any political party or an electoral trust. Deduction is allowed for contribution done by any way other than cash.
 Political party means any political party registered under section 29A of the Representation of the People Act. Contribution is defined as per section 293A of the Companies Act, 1956.

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Section 80GGC: Deduction in respect of contributions given by any person to Political Parties

Deduction is allowed to an assesses for any amount contributed to any political party or an electoral trust. Deduction is allowed for contribution done by any way other than cash.
 Political party means any political party registered under section 29A of the Representation of the People Act.

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Section 80RRB: Deduction with respect to any Income by way of Royalty of a Patent

Deduction in respect of any income by way of royalty is respect of a patent registered on or after 01.04.2003 under the Patents Act 1970 shall be available up to Rs. 3 lacs or the income received, whichever is less. The assesses must be an individual resident of India who is a patentee. The assesses must furnish a certificate in the prescribed form duly signed by the prescribed authority.

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In the Finance Budget 2015 have some changes , but the Tax Slab is Same as previous Financial Year. The Major Changes is Raised the some Tax Section which is given below :-

1 U/s 80 U :- Max Limit Rs. 75,000/- for General from 40% to 80% for Phy.Disable Person and Rs. 1,25000/- for more than 80%.

2. U/s 10 Transport/Traveling Allowance :- Max Limit Rs. 1600 P.M. for general and Rs. 3200/- P.M. for Phy.Disable persons.

3. U/s 80D Medical Health Insurance :- Max Limit Rs. 25,000/- for below 60 years age and Rs. 30,000/- for above 60 years age.

4. U/s 80CCC Pension Scheme :- Max Limit Rs. 1,50,000/-

5. U/s 80 DDB Sever Medical Treatment :- Max Limit Rs. 80,000/- instead of 40,000/-

6. U/s 80C :- One New deduction has incorporated as Sukanya Samriddhi Account for minor girl child who's age below 10 Years, and Max Limit Rs. 15000/-

7. U/s 80TTA relief from Savings Bank Interest is also entitled in this financial year up to Rs. 10,000/- who's taxable Income below Rs. 5 Lakh.

8. U/s 87A :- Tax Rebate Rs. 2,000/- is also entitled in this financial year as before.

Benefits Choosing Affordable Life Insurance for Over 50

When you start building the new life with your family, such as getting married, you will start to think about buying home and many kinds of needs that have the huge prices to be spent. This can be something reason where you choose to take the insurance. It does not mean that your life will be unhappy because you always have to save some money as the insurance for the later life. Especially when you are getting older for over 50, there are many kinds of things to be covered. Take affordable life insurance for over 50 is the best way to do with you because there are many kinds of benefits that can you get.

Affordable life insurance for over 50 can cover your need

For the younger people, thinking smart is an important thing to do. This is because as the time goes, you will get older and over 50. Take affordable life insurance for over 50 will guarantee your life. This will be very beneficial in the event dead happens. There will be children and wife that you live, your family cannot always rely on you. For the home credit that will always must be paid. This insurance will help you.

This insurance is important not only for the house credits or the other kinds of needs. It is important for children. When you are over 50, your children will be in age of teen or they will be going to the university. It will spend much money to study where you are old enough and cannot work hard as before. Just imagine when you do not have insurance, you must cover the need even you are sick and weak. This will be something that can cause the bad effect for you. But by applying insurance, you can stay relax.

Planning your inheritance

Planning inheritance is an important to do for those of you who are the leader of a family. You need to give the Heritance to your family to anticipate if something bad happens anyway. This insurance is the best way for you that are over 50. It can be the insurance that can guarantee your family's life. The price will be increased. You will get difficult to solving the financial. The assets will help you to take care by using this insurance.

The importance of the affordable life insurance for over 50

When you are in over 50, the income that you were lower as the unproductive work that you can do. You must work hard due to the increase the cost of life. This insurance will save you money by giving the money that you save over before 50. You can start to relax if you get older and die because you have the insurance. It can be given to your family as the inheritance that you leave.

How affordable life insurance for over 50 works?

Many people still do not think about the importance and the benefits that you can get by applying this insurance. They think that insurance can reduce their income just for nothing. But if we see the good thing that you can get by insurance, you will realize that insurance is indeed important for you and your family. Many people get realized the importance of the insurance after knowing the reality. When they are already old and sick, they will not gain much money anymore for the increase of the needs cost that is so expensive. They will regret why they do not take the insurance before.

It is very suggested for you to take the insurance before late. There are many realities that you can see that show the cases for the insurance. For example is for the education insurance for the children that you have. You want the good study for your children by sending them to the best university, but you die before that thing can be reached successfully. This will be very unfortunate for your children if you do not have any kinds of educational insurance anymore.

You need to take the affordable life insurance for over 50. This affordable life insurance over 50 can be called such as life pensioners insurance. It is designed to leave the tax free sum for the people you love in the death. By using this insurance, you will be able to guarantee the acceptance with the no medical exam that is required for you. It is working by the premium payment that has become the agreement between you and the insurance company.

When you pay the monthly insurance payment? This insurance will guarantee your life until the age of 90 or until you die. When you suddenly pass away, the policy will be used to pay out the predetermined sum. For the amount of the cover, it is depending on the same factors. There is the age, whether if you are a smoker or not, and the payment premium optimally that you can pay. This will be the consideration for you to choose the best type of the over 50 insurance of the affordable life for you.

That is all about the explanation of the affordable life insurance for over 50. It will give the concept of mart thinking life by using insurance. You will not think that insurance is a priceless thing. You will start to contact the insurance company to take the insurance for your family.

By using affordable life insurance for over 50, your life will be guaranteed as well. When you get older, you do not need to worry anymore because affordable life insurance for over 50 will give the best thing for your financial problem, for your family, children's education and even the other things. Insurance is a must indeed if you love your family and you care about your child's happiness by giving the best future as you can to them.

Wednesday is the deadline to get a health plan for Jan. 1

Consumers have until Dec. 23 to sign up for a health plan through Washington Health Benefit Exchange for coverage that begins on Jan. 1. The last day to get health insurance for 2016 is Jan. 31. People who do not have a health plan for 2016 face a penalty on their taxes of 2.5 percent of their income or $695 per person, whichever is higher. Read more about the tax penalty.

If you are still looking for a health plan, you can look for one at our state’s health insurance exchange, Washington Healthplanfinder and find out if you qualify for financial help, including tax credits that may lower the cost of coverage. If you do not qualify for help with your health insurance, you can contact an insurance agent or broker to find out what your plan options are.

Read some tips from our office about things you should consider when shopping for a health plan.

Questions? You can contact our consumer advocates online or at 1-800-562-6900.

Why young Singaporeans don’t need to worry about buying their first HDB Home in Singapore?

Almost 2 years ago in February 2014, I wrote an article on "How much money does a couple need to earn in order to afford a $300,000 HDB flat?" and it went viral. Buying their first home seems to be a concern among young people in Singapore. Is it really that scary to own a house as a young person living in Singapore? It is actually not so scary if we know what to do and how to buy a house which we can afford comfortably. Owning a house should be an enjoyable process and not a stressful situation which we put ourselves into. So what can we do to make owning a house in this high housing price era more enjoyable? Let me show you how it can be.

Paying For the Down Payment of A New Home

All of us would know that we can use our CPF to buy a house. The down payment for a house is 10% for HDB which means any of us who buy a $300,000 HDB flat would need to come up with $30,000. This is certainly quite a huge sum of money for young couples who want to own their own home. For couples, saving up for their wedding, the renovation works and the honeymoon is already stressful enough. Thankfully, we do not have to save up additionally for the down payment of a house because CPF has automatically saved it for us.

A young person, age 35 and below, earning about $2,500 a month in Singapore would have about $20,000 in his CPF OA account within 3 years of working. 23% of his/her salary is contributed to the CPF OA every month by himself and by his/her employer.  The money in CPF OA can be used for housing which can be used to pay the down payment of a house. Together with his or her spouse, one can safely afford the down payment of a house within 3 years of working.

I started working early in my life right after my National Service. After working for 5 years, I already had more than $60,000 in my CPF accounts in total. I did not start out with a high salary, only $1,700 per month when I just started working and CPF actually helped me accumulate quite a good sum of money. Now, I don't have to worry about housing cost. The savings which I have accumulated can be used for other stuffs such as wedding and renovation costs.

Paying For the Monthly Instalment of A New Home

Besides using CPF for the down payment of a new home, young couples can also use CPF to pay for the monthly instalment of their home. A couple earning $2,500 will have $575 contributed to their CPF OA each. Together, they have $1,150 every month from their CPF OA to pay for the monthly instalment of their new home. If they buy a home within their means, they don't even have to fork out extra cash to pay for the housing loan.

If we buy a home at $300,000, after 10% down payment, we'll need to take a loan of $270,000. The monthly instalment for a $270,000 loan with HDB at 2.6% for 25 years will be $1255 per month. Now, this is still about $100 more than what a couple with combined income of $5000 would have in their CPF Ordinary account.

However, if we and our spouse have a combine income of $5500, the monthly contribution to our OA would be more than sufficient to pay for the housing loan instalment for a $300,000 HDB flat. The instalment will still be $1255 while this couple their combine CPF contribution in their OA is $1265. This is more than enough to pay their housing loans fully by CPF without the need to come out any cash.

Furthermore, there are additional measures to help young Singaporeans in owning their first HDB home a more fuss free experience. Let's take a look at the last part below on the subsidies which we'll be able to get.

CPF Housing Grants for a New Home

For BTO HDB Flats

I've researched and summarised the grants available for a new HDB home. This is for first time applicants only. The special housing grant only applies to 2 room, 3 room and 4 room flats in non-mature estates only. 

Average Monthly Household Income Over 12 Months	Additional CPF Housing Grant	Special CPF Housing Grant (Not applicable for 5 room HDB)	Total Grants
Up to $1500	$40,000	$40,000	$80,000
$1,501 to 2,000	$35,000	$40,000	$75,000
$2,001 to 2,500	$30,000	$40,000	$70,000
$2,501 to 3,000	$25,000	$40,000	$65,000
$3,001 to 3,500	$20,000	$40,000	$60,000
$3,501 to 4,000	$15,000	$40,000	$55,000
$4,001 to 4,500	$10,000	$40,000	$50,000
$4,501 to 5,000	$5,000	$40,000	$45,000
$5001-$5500	Nil	$35,000	$35,000
$5501-$6000	Nil	$30,000	$30,000
$6001-$6500	Nil	$25,000	$25,000
$6501-$7000	Nil	$20,000	$20,000
$7001-$7500	Nil	$15,000	$15,000
$7501-$8000	Nil	$10,000	$10,000
$8001-$8500	Nil	$5,000	$5,000

The CPF Housing Grants will be fully credited into the CPF Ordinary Account of the Singapore Citizen (SC) first-timer applicant, who must be listed as a co-applicant. No cash is disbursed. For a couple applying for the HDB together. each applicant will receive half of the full grant amount.

We can get as high as $80,000 in CPF housing grants. That to me is quite a substantial sum of money. Even if you and your spouse have a combined income of $8000, you would still be eligible for the Special CPF Housing Grant if you are not purchasing a 5-room HDB.

*For more information on the CPF housing grants for first timer applicants, please refer to HDB website here. 

For Resale HDB Flats

If you don't have time to wait for a BTO flat, you can also apply for a resale flat. Resale flats are known to be more expensive than HDB flats but not to worry, there are some other grants to help in this cost.

Family Grant

The grant available for this scheme is $30,000. To be eligible, your household income must not exceed $12,000 (revised from $10,000 before 24 August 2015). You must be a Singaporean and form a family nucleus with another Singaporean or PR. This grant is only available for first time home buyers.

Additional CPF housing Grants

The additional CPF housing grants is similar to that for the BTO applicants as below:

Average Monthly Household Income Over 12 Months	Additional CPF Housing Grant
Up to $1500	$40,000
$1,501 to 2,000	$35,000
$2,001 to 2,500	$30,000
$2,501 to 3,000	$25,000
$3,001 to 3,500	$20,000
$3,501 to 4,000	$15,000
$4,001 to 4,500	$10,000
$4,501 to 5,000	$5,000

Proximity Housing Grant (New from 24 August 2015 onwards)

Under this scheme, you can receive $20,000 in grant.

The eligibility criteria is:

Your parents/ married child are:

• living with you in the resale flat
• living in an HDB flat in the same town or within 2km
• owner-occupants of private property in the same town or within 2km

The above grants definitely come in handy to help subsidise the housing cost for first time home buyers. Grants are disbursed into our CPF accounts for our housing needs.

Should I Buy The Biggest HDB Available?

More often than not, I've heard suggestions to buy the biggest HDB flat as early as possible or even on their first home. But, is this a wise advice for young couples? For a fuss free home ownership experience, I strongly believe we should buy a HDB flat within our means.

In Singapore, loans for HDB flats are limited to 30% of our gross monthly income. This is the mortgage serving ratio (MSR) set by the MAS to make sure home owners do not over stretch their finances. If we lose our jobs or should interest rates increase, the MSR of 30% will make sure we can still service our loans.

CPF also has a First Home Calculator to help home owners calculate and make sure they do not overstretch their finances. If you're planning to buy your First Home, you can check out the calculator here.

Another point to consider is that our first home is actually not an investment but a liability. This is because even if you sell the house you're staying in, you still need to buy another house to live in. If you're planning to buy a property for investment, your first home should be bought conservatively so as to save up capital for a second investment home.

Do young people have to worry about buying their first HDB home in Singapore? For me, I can say that when the time comes for me to apply for my first home, I do not have to worry much at all. The money in my CPF account is more than enough to cover all the necessary cost for my first home. Furthermore, with the CPF housing grants, the experience of owning a home will be much better.

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Related Posts:
1. Should Couples Buy A 5 Room HDB Flat For Their First BTO Application?
2. The 3 Big Decisions in Life - Marriage, Buying a House and Retirement

Is there a drone on your shopping list? You might want to talk to your agent or broker

The Federal Aviation Administration (FAA) estimates more than one million drones will be sold this holiday season. Everyone from photographers and farmers to law enforcement and hobbyists are using drones.  Whether for personal or commercial use, there are a number of insurance issues to consider ranging from personal injury and property damage to privacy concerns.

Drones present a significant risk to property and life on the ground in the event of an accident. Drones can crash due to faulty and inappropriate operation, mechanical defects and component failure. Losses and damages could involve bodily injury to humans and animals as well as buildings and structures.

Using a private drone as a hobby is generally covered under a homeowner’s insurance policy—and subject to a deductible--which typically covers radio-controlled model aircraft. This also applies to a renter's insurance policy. Look at the contents section of your policy, or talk to your agent to see if your drone will be covered if it is lost, stolen or damaged. If your drone falls onto your car, damage to your car may be covered if you have a comprehensive coverage auto policy.

A larger concern is liability for an accident caused by your drone. If your drone crashes into someone else's vehicle or a person. If you have a homeowner’s or renter's policy, generally the policy will cover liability for an accident caused by your drone if it is determined that you were negligent and at fault. Check with your agent or insurer to verify your policy contains this important coverage. You can also read a story about drone insurance that was recently posted on the Insurance Journal’s website.

Drones are defined as remotely piloted aircraft systems and the FAA says pilots of unmanned aircraft have the same responsibility to fly safely as manned aircraft pilots. In addition to FAA regulations, state and municipalities may have their own laws regarding drone use.  The FAA has issued these guidelines for drone hobbyists:

• Don't fly higher than 400 feet and stay clear of surrounding obstacles.
• Keep the aircraft in sight at all times.
• Stay away from manned aircraft operations.
• Don't fly within five miles of an airport unless you contact the airport and control tower before flying.
• Avoid flying near people or stadiums.
• Don't fly an aircraft that weighs more than 55 pounds.
• Use caution when flying your unmanned aircraft.
• With some drones weighing up to 55 pounds, a fall from the sky can cause significant damage to property or bystanders.

Recently, federal regulators announced that recreational drone operators will soon need to register their aircraft. This will allow authorities to trace a drone back to the owner, which means it's vital that you're in compliance with laws and regulations and have the appropriate insurance coverage.

Your HDB Flat Is Not Really An Investment

It is very hard to make money on your HDB flat. By this, I'm saying about the first HDB flat you buy. Many people treat the home they are staying in as an investment where they are willing to put in money and pay a lot for the mortgage every month.

Is it really worth it to buy the largest HDB flat and think we could make money from this in the future? Let me show you why your HDB flat is not really an investment.

Why Buying The Largest HDB Flat May Not Make Sense?

More expensive and lesser grants

Your first home is for you to stay. Spending more money to pay for housing loans means you will have lesser for retirement or for your expenses.

The recent BTO launch at Bidadari (Toa Payoh) attracted quite a lot of attention. The location is good and so is the price higher. Let's take a look at the prices of the different flat sizes at Bidadari for the recent launch:

• 3 Room - $297,000 - $385,000
• 4 Room - $433,000 - $550,000
• 5 Room - $544,000 - $625,000

As we can see, the prices are definitely higher than areas like Punggol. If we buy the largest HDB which is the 5 room flat, as compared to the 4 room, we need to fork out an additional $100K for it. Furthermore, there are lesser grants for 5 room flats as compared to 4 room flats. I'll write more about the grants in another article coming up next. In general, we could lose out up to $40,000 in grants if we buy the biggest HDB flat.

The monthly instalment for a $450,000, 4 room flat and a $550,000, 5 room flat will be as below:

4 Room Flat: $1838/Month
5 Room Flat: $2246/Month

The above scenario is assuming a 90% loan and 25 years loan tenure at 2.6% interest from HDB loan. As we can see, buying a 5 room flat will set us back with $408 lesser a month. This will add up to $122,400 in total for 25 years.

Higher resale levy

I think a lot of couples buy the largest HDB flat because they think they can make more money from it when they sell it and buy another BTO. This may be true in the past but its not true currently. For a 5 room HDB flat, if you sell it either to upgrade or downgrade, the resale levy imposed is higher than that of a 3 room or 4 room flat.

Here's the resale levy payable:

First Subsidised Flat Type	Resale Levy Amount
2-room	$15,000
3-room	$30,000
4-room	$40,000
5-room	$45,000
Executive	$50,000

A resale levy is payable on these conditions as quoted from HDB website:

• You sell your subsidised flat after meeting the Minimum Occupation Period (MOP), and then buy a second subsidised flat from HDB or take over ownership of a subsidised HDB flat
• You sell your subsidised flat after meeting the MOP, and then buy an EC from a developer where the land sale was launched on or after 9 December 2013, including those where tenders were not closed, i.e. Westwood Avenue, Canberra Drive and Anchorvale Crescent

You need not pay a resale levy if you are buying any of these:

• Design, Build and Sell Scheme (DBSS) flat from a developer
• EC from a developer; where the land sale was launched before 9 December 2013
• HDB resale flat
• Private residential property

Why A HDB Flat Is Not Really An Investment?

HDB is a leasehold property for only 99 years

All of us know that HDB has a lease of 99 years. What are the implications of this? It is confirmed by the minister of national development during a 2014 parliament seating that at the end of 99 years, HDB's asset value will depreciate to zero. 

In fact, we don't really have to wait until the end of 99 years to feel the impact of it. By the time your HDB is left with 60 years or less, the banks will limit the loan tenure which one can borrow if they purchase that flat. This means, if you want to sell your HDB flat with 60 years or less lease, you will have some problems as your potential buyers may not be able to qualify for the bank loan. With additional cooling measures such as the TDSR, MSR, it makes it even harder to get the loan. 

To know more about the TDSR, MSR, read: How much money does a couple need to earn in order to afford a $300,000 HDB flat?

Your money is stuck in the HDB

All the money you pay for your HDB is stuck there until you sell it. If you sell it, you still have to buy another house to stay in and you need to pay a resale levy if you buy another subsidised flat. There is little chance where you will be able to get any extra cash out if you sell your HDB. 

If you had instead bought a smaller flat to stay in, the extra cash or CPF you have would earn interest which will compound over the years. CPF gives interest as high as 5% while your cash can generate investment returns if you invest it. 

It is better to buy a smaller flat if you're planning to stay in it and save up more for another investment property later. 

You cannot cash out of your HDB flat but you can for private property

There is no way for you to cash out of your HDB or mortgage it for any other purposes. The banks do not recognise it as an asset. For a private property, you can take an equity loan or term loan and use the cash for other uses. This is also called cashing out of your property. 

Let's compare between a $600,000 HDB and a $600,000 private condominium. For the private condo, you can take an equity loan of about 70-80% of the property value minus the outstanding mortgage you have and any CPF utilised. For the $600,000 condominium, you can cash out about $480,000 at an interest of the current property loan packages available which is less than 2%. This is the lowest you can get as compared to other loans such as car loans, business loans or personal loans. You can use this cash to start a business or even use it for investment. You cannot do this for a HDB flat at all. For a $600,000 HDB, your money is stuck inside without you being able to cash out.

*If you're planning to cash out of your private property, you can email me at sgyi@homeloanwhiz.com.sg for a complimentary consultation. I would be able to advise you on the best rates and process your application for you. 

Conclusion

The primarily purpose of HDB is to provide affordable housing to Singaporeans so that each of us have a roof over our heads. Treating HDB as an investment and wanting to make money from it may not be the wisest choice as the government will do all they can to limit speculation in the subsidized public housing market. This is to ensure public housing remains affordable for the majority of Singaporeans who want to own their own homes and start a family.

Buying a smaller flat for your first home will make owning a house a more fuss free experience so that we will have more money in the future should we want to have another investment property or use the extra money for other investment purposes.

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Related Posts:
1. Can You Afford That Million Dollar Condominium?
2. How Much Loan Can You Get For Your HDB flat?
3. Is It Necessary To Refinance Our Housing Loans?

Over 50 Life Insurance No Medical Exam Is a Good Choice

Have insurance is a necessary thing for those of you who want to save a sum of money for the future. Insurance is a presented love for people you love so that when you are not around anymore. Your beloved family, wife, children can have those insurances to support their life. There are many kinds of payments that must be done by you. It can be paid well when you are older or you cannot work as when you are young. Over 50 life insurance no medical exam is one of the ways that you can do to guarantee your life. This life insurance is insurance that does include medical exam.

Over 50 life insurance no medical exam is a wise choice for older people

There are many people that learn about the quality of the insurance. There are a number of people that are disqualified due to the falling of the medical treatment required. Over 50 life insurance is the most important to quality for a life. This can be the policyholders for the future life. Because of the high cost for the life requirement, the insurance companies must make the policy that offers the same thing. It is to give the insurance for the term of the life.

This insurance is not really different in other kind of insurance. The difference is this insurance does not have the medical exam. The applicants do not need any kinds of undergo of the physical examination. You just need to complete the procedure of the application to have this insurance. You can fill the forms and pay the fee. The no medical exam for over 50 is applied by not giving any kind of a medical checkup because the applicants do not want to get the medical exam for the exception of this insurance.

No medical exam is for people who are afraid to get the medical check because they are afraid if they have some specific illness. By this insurance, people will get the experience for the life protection. It will be guaranteed that the family will get the cash assistance for any kinds of death event holder.

Many older people prefer to purchase the insurance plans because they do not want to give any burden for their families. They prefer to intend to give the death benefits for the families left. It can be allocated for the final expenses. They will be unable to create the plan when they are getting older or may get the seriously sick. By this insurance, their families and children will be able to stand by their own financial.

Every person includes the insurance industry will be helped by other modern technology. This can give better result effort for the professional to make your life longer by doing any kinds of medical treatment. This insurance will give the certain benefits to you. It will be provided about the same benefits that you get by applying this life insurance.

The benefits is you do not need to wait about 6 weeks just for the waiting the application to be approved. This is because the waiting time for insurance application is just about six weeks. You will get the news about the application approved or not sooner. The second is easy to seal and deal for own house comfort. You will not get trouble with getting no medical exam in the line of the quote anyway. You do not need to seek the insurance agent and commission because you can do the transaction by yourself.

It is important to be noted that for those do not know anything or not familiar with any kinds types of the insurance, you can go to check the insurance online for knowing the term of the insurance itself. There are many major kinds of insurance companies that display the information about the insurance products, offers, or any kinds of historical background. It can be the important consideration for you to choose the insurance company. You have to see first about the most important applicant before getting the engagement with them.

You have to learn about how the over 50 life no medical exam insurance running in that company. It will pay you back with the insurance. This is very important for your future life because there are many cases that show the company that attract many applicants, but in fact, that company cannot pay to remunerate back for the intended money for the applicant. You have to be careful in choosing the insurance company.

Some people may be able to keep the health before over 50 by stop smoking or consuming any unhealthy food. Over 50 life insurance no medical exam will be really helpful for you. You have a lot of chances in life without getting any kinds of dangerous illness. For the further information, you can search in the internet about the smoker insurance.

For those of you who can keep healthy before over 50, it will be a good thing because you will not have to spend much budget for illness. Over 50 life insurance no medical exam can help medical treatment for special illness that you have. Apply the healthy life is indeed recommended for you. You can do sport and exercise everyday. Get the applications sooner for the better and guaranteed life.

How to Get Cheap Holiday Insurance

Holiday is one of the people's needs. It purposes to refresh their mind so that they will feel clam. Different people may have their own favorite holidays. Some people prefer going to holiday in their own country but some other people prefer going abroad. Anyway, you need to make sure that you are safe during the holiday. How can you get it? In this case, holiday insurance can be the solution. The prices of holiday insurance are different. So, you have to choose the cheap one. Therefore, this article will discuss about the tips to get cheap holiday insurance.

1. Buy It to the Insurance Company Directly

The first tip is related to where you buy it. You may buy the insurance to a travel agent. However, it will cost more because you need to pay their service. Besides that, you may also buy it at a tour operator. However, it is also similar to the travel agent one. Then, buying insurance at an airline can also be a good idea. It also has the same problem. So, you have to avoid those ways. That is why it will be better for you to buy the insurance at the insurance company directly. It is the key to get cheap holiday insurance.

2. Decide the Coverage First

Besides that, you should also decide the coverage first. Different companies may have different coverage. For example, you want the coverage of health insurance. You can also consider buying the cheap travel insurance with accident coverage. There is also coverage of loss. So, you do not need to worry with your wealth. Therefore, it becomes one of the tips to get cheap holiday insurance that you have to pay attention.

3. Check What Is Covered in Your Insurance You Have

Holiday insurance is a short term insurance. It just purposes to cover you during the holiday. So, you certainly have other insurances. For example, you have insurance from your bank that covers your health. So, when you buy holiday insurance, you do not need to buy the health coverage. It makes you save money. If the insurance from your office cover accident risk, you do not need to buy the accident coverage. That is why it will make you buy the insurance cheaper. So, it belongs to the tips to get cheap holiday insurance.

4. If you Travel 3 Times or More Choose Annual Cover

If you like travelling, inexpensive holiday insurance is needed to buy. If you go holiday at least three times a year, this insurance will be very important. It will not only relate to the coverage you will get but also the price offered to you. Of course, the price will be much lower than the regular insurance. Even more, the coverage duration will also be longer. It can cover you until 31 days. Of course it is very great. Therefore, it becomes one of the best tips to buy cheap holiday insurance.

5. Pay Attention to the Age Limits

Besides that, you should also pay attention to the age limit. It will be better for you to choose the insurance that does not limit your age. In fact, commonly the older you are, the higher the price will be. It will also relate to the medical exclusion. In fact, the older you are, you usually will need more medicines. It is very important. So, it belongs to the tips to buy cheap holiday insurance.

6. Consider the Cancellation Coverage

Then, the next tip to buy inexpensive travel insurance is by considering buying the insurance that cover the cancellation. If your insurance does not cover the cancellation while you cancel your holiday, it will be useless. So, you need to pay attention to it more. Not all insurance companies offer this coverage. So, you have to compare more than two insurance companies. Considering the importance of this coverage, you need to but the travel insurance that covers cancellation. It becomes one of the tips to get cheap holiday insurance that you should follow.

7. Prioritize Travel Insurance with Baggage Coverage

When you go for holiday, the most common problem is the risk of robbing. Even more, if you go travelling and bring jewelry, it can be troubled if it is stolen. That is why you have to make sure that everything you bring during your holiday is safe. Therefore, holiday insurance is needed. If you only want to focus to cover your baggage, you do not need to buy this insurance that covers too many kinds of coverage. You just need to focus on the insurance that covers your baggage including jewelry. Anyway, it becomes one of the tips to buy cheap holiday insurance that you should follow.

8. Consider Family Coverage

Besides that, family coverage is also important to get, even more if you travel with your family. For example, you go vacation with your spouse and children. You have to make sure that all your family members are covered. In addition, you also need to know whether your family members are covered when they travel without you. For example, you must know whether your kids are covered when they go for school travelling. Of course, it will be more useful. So, it can be considered as the tip to get cheap holiday insurance.

9. Prioritize Car Coverage

Travel insurance is closely related to car insurance. In fact, people mostly prefer go vacation by car. So, you should also make sure that your cheap holiday insurance covers your car. The coverage includes the risk of loss and accident. Commonly, it becomes the standard coverage from some insurance companies. However, some others require you to pay more if you want to get this coverage. So, you have to choose it carefully.

That is all the most important tips that you have to know if you want to get cheap holiday insurance. So, you need to follow those tips so that you will not be disappointed. Hopefully this will be a good reference especially for you who are interested in travelling and holiday insurance with low price.

No health insurance for 2015 or 2016? You may be facing a tax penalty

If you can afford health insurance but you choose to not enroll in coverage for 2016, you may be required to pay a fee when you file your 2016 federal income taxes. The fee is also called a penalty, fine, or the individual mandate.

A few facts about the individual mandate:

• The fee is calculated one of two ways. The fee for not having health insurance if you can afford it is $695 per person in your household who doesn’t have health insurance or 2.5 percent of your income – whichever is higher. HealthCare.gov has a guide to estimate the fee you’ll have to pay if you don’t have health insurance. 

• The fee for 2015 is lower than for 2016. For 2015, the fee for not having health insurance if affordable insurance is available to you is $325 per person or 2 percent of your annual household income – whichever is higher. The fee is calculated based on the number of months you, your spouse, or your tax dependents went without qualifying coverage, such as an employer-sponsored health plan, Medicare, Medicaid or coverage through Washington Healthplanfinder.
  
  In some cases, the fee may be higher than buying health insurance through Washington Healthplanfinder. You can look at plans and find out if you qualify for help at www.wahealthplanfinder.org. 

• For some people, exemptions from the fee are available. People with very low incomes and individuals who meet other specific conditions can receive an exemption from the requirement to have health insurance and will not have to pay the fee. Additional information about exemptions and a tool that helps you determine if you qualify for an exemption is available on HealthCare.gov. 

If you need health coverage and want to avoid the fee for 2016, the deadline to enroll in a plan is Jan. 31. If you don’t enroll by then, you could have to wait another year to get coverage and may have to pay the fee when you file your 2016 income taxes. If you want coverage that starts on Jan. 1, you need to enroll by Dec. 23.

More information about the individual mandate on the Internal Revenue Service's (IRS) website.

Why Do People Need Over 60 Life Insurance?

Life insurance is an important thing for those of you who have the ages almost over 60. Why do people need over 60 life insurance? This is because at the ages over 60, there are many kinds of phenomena in your life, such as the kids that already grown. The house or apartment that's almost to be paid off or the retirement. Those are expensive. People who are already over 60 are the people that spend much budget for buying. The investment is convinced by the agents says they will not need to cover at this stage, but the truth is indeed different.

The life has many kinds of things that may happen unpredictably. There are many kinds of situations that may happen to you. The needs are different from many years ago. The needs are not less, because there are many kinds of increase of the needs that must be completed. For example, is about the burial. Many years ago and now are indeed different about the cost of the burial. The death, lost income is needed. Over 60 life insurance will help you to complete all the case for future. 60 life insurance is indeed important for your better life in the future.

Over 60 life insurance is needed when the accident or something happened between the spouses. When the spouses die, the other spouse, surviving can receive the benefit of the social security that has the amount higher from the two spouses. This is very helpful for those of you who married to prevent something bad happen. For example, the spouse A will receive about $ 2500 and spouse B will receive $ 2000 per month. When the spouse a die, the spouse B will get $ 2500 per month and $ 2000 per month for the rest of her or his life. This can leave the income about $ 2000 each month.

Retirement planning with Over 60 life insurance

There will be a condition when your money could outlive. It can make your income to be exhausted anyway. You have to think about the life expectancy because when someone is over 60. It will be considered to be the final ages of life. People are expected to not have the long life anymore. People will get old and will be often sick, causing by the certain diseases. You must do the preparations before to prevent this kind of thing. Life insurance over 60 is the wise way to be chosen. It is because of insurance over 60, you can save your money as a budget for the future that may be cannot be expected.

The reasons why over 60 life insurance are important

There are many kinds of reasons that can be your consideration for choosing over 60 life insurance. One of the reasons is about the limitation of the age that makes the senior Netizen indeed need this kind of insurance. This is because of the over 60, the citizen may be not be working anymore because of the unproductive urge to work. They really need the insurance and finance to cover. Life insurance over 60 are mainly applied in many countries that are especially for the elders over 60. You do not have to be worried if by insurance, then you will be disadvantaged because it gives much benefit for you.

As long as the time goes, there are many kinds of differences of the situation that changes such as the cost. The cost is really an important thing because as old you are. There are many cost that must be spent by you. Your ages are impossible anymore to do working to gain money. The wise solution is indeed needed and life insurance over 60 is best and wise choice for those of you who want to have the life that is happy and guaranteed. You can go to medical check up for healthy by using insurance because in that age, the chronic disease may happen to you that require you to get much money on it. Life insurance for over 60 will help you to solve that kind of problem.

The important reasons why people need over 60 life insurance are the first is about the mortgage. There is no the limit of the age to paying back the mortgage definitely. It is impossible and unusual for people over 60 to still pay the mortgage anymore. The second is about the regular income. For people over 60, there will be no regular income. It requires them to do part time job to support the life of the spouses. By providing life insurance over 60, those kinds of problems may be solved easier.

The next is about the funeral expense. When people get older, especially in over 60, there is high possibility of the death. When you die, you will need the funeral expense that requires you to spend money on it. Life insurance over 60 can cover and handle this. The next is about inheritance. This is very important because when you die. There will be the number of families that you leave. By saving your money by 60 life insurance, you will be able to give some funds for the family with that insurance.

Over 60 life insurance can answer all of your questions about the difficulties that may be you get in your life. Saving money for the good life is indeed important to do because you have a family consisting of children that must continue their studies that certainly need much budget, but you are old and cannot do the maximal work for gaining money. Over 60 life insurance will give you the easiness to this problem where you can still send your children to the university to continue their study.

The financial health can be through by over 60 life insurance. When you get older and getting some diseases that need much money, you can use health over 60 life insurance. This can be proved that over 60 life insurance is really important for you. As the wise and the smart people, then planning better future is indeed needed by you. You can get older without getting any kinds of serious problem fur funeral, health, and mortgage and for the family that you have.

Get Best Advantage from Income Protection Life Insurance

Life insurance is one kind of insurance that can be best choices for you choose. With choose this one kind of insurance, you will make your family still get assurance when they get accident or bad thing in their life. With choose right insurance kind like this one kind of life insurance, you will really get amount payment from the insurance. But, for you note you are must know and choose right life insurance companies with good rule that will make you are in profitable. One thing that must you give your attention in really carefully is about the income protection life insurance.

With give in your income protection of course you will get all of your insurance in full amount. Different company will give you different rule. Because of that, you are must really carefully to choose right company that will give you full insurance. Income protection life insurance is the most important thing that must be your priority when you are chooses your insurance company. Before you are take this life insurance, its better if you are known about what is income protection insurance. After you are understood about what this insurance, advantage and the purpose, you are can decide to take this life insurance or not.

From this one kind of life insurance kind, you will get your protection when you are unable to job. When you are confused to find best financial solution when you are lose your job, using income protection life insurance is best choices that will really help you are to fulfill your equipment although you are lose your job. This is best life insurance that will give you best advantage. But, you are also must doing some of important thing first and give attention in some of important before you are decide to choose this life insurance. Although its look like very nice, but you are must think again to decide use this one kind of life insurance.

Advantage from income protection life insurance

Income protection life insurance is one kind of life insurance that will help you when you are getting fired of your job in someday. This one kind of life insurance is an income insurance policy fixed amount weekly or monthly. This one kind of life insurance will pays when you are unable to work due to illness or accidents. It is can be one advantage that will you get if you are choose this one kind of life insurance. When you are get illness or accident you will still get the payment from this life insurance.

You are must don’t worry about the payment that will you get from the insurance company. Usually this type of insurance can give you up to 75% of the gross annual income of the policyholder. But, the policyholder must in illness or injury and unable to work. With this one kind of income protection life insurance of course can really help you and your family to find solve your problem when you are get accident and unable to work. This one kind of life insurance can be one kind of benefits insurance rather than other insurance kind.

Third advantage that can you get when you are choose this one kind of life insurance is the payment of this life insurance will started from 30 day after the policyholder is unable to work. Although its can be different between one company and others, but in common you will get the payment after 30 day. It will really help you are to make your daily in enough equipment after you are get the illness or the accident. After that, income protection life insurance will continually to give the payment until the policyholder can back to work. If the policyholder still unable to work, this payment will continue until the cut-off age of 65 years.

With all of the advantage that will you get from this one kind of life insurance, of course it can be right consideration to choose this one kind of life insurance. You are can get best advantage and make your life still in good condition and can get your equipment in fulfill. Income protection life insurance is can you get in best advantage if you are also can get best company for you choose become your life insurance company. You are can find some of different life insurance company that can you find in internet of in real life. To choose right life insurance company you are need to doing some of tips like in the bottom.

Tips for best income protection life insurance

How to get best income protection life insurance is can you do with doing some of important things? You will get suitable company that offers you with suitable quote and the payment. With choose the company with selective of course you will get best advantage and get profitable life insurance. Some of important thing that must you give your attention must be your best consideration. With that, you are can get best advantage and make you are will get suitable life insurance for you choose.

First thing that must you give your attention when you are choose this one kind of life insurance is the company profile. Income protection insurance company is can you find in lot of different company. You are can find on the internet in easy with some of different policy that offers for you. From some of different company of income protection life insurance must you choose in really suitable and really like what you need. You are can check the policy and the benefits one by one to make you are get best company of this life insurance.

If you are still confuse to choose about the life insurance company that offers you with some of advantage of the policy its better if you are read the review from the public. With doing this tip you are can know about the portfolio of the insurance company. You are can know about the many clients a company possesses, and how the process of the income protection life insurance. With this step, you will really get the actual portrayal about the life insurance company that will really help you to choose best life insurance company for you.

Last step that can be your great tip to get best insurance company is choose your life insurance company that offer for you with high payment, good serving, and in easy rule. Income protection life insurance that give you easy rule and profitable payment of course will make you are get suitable life insurance. You are can get best advantage when you are choose this one kind of life insurance. You will get your family still in good condition and can fulfill all of the equipment although you are in illness or in injury.