S1E96: The ABCs of disability insurance plans: BT Money Hacks Ep 96

BT Money Hacks

Synopsis: Every first and third Monday of the month, The Business Times breaks down useful financial tips.

This week's episode looks at how disability insurance and long-term care aren’t on the radar of many. Find out why this should be on your must-do list during this pandemic, in this episode brought to you by Great Eastern: https://www.greateasternlife.com/sg/en/index.html

BT's digital editor Chris Lim hosts Colin Chan, managing director of Group Marketing at Great Eastern, who explains the following:

1. Can you ever be too young to worry about disability insurance (1:48)

2. What is a "living" benefit, and why this is key if you have a longer runway of potential needs (2:52)
3. Many young people suffer disabilities caused by accidents and unforeseen circumstances (3:15)
4. Calculating long-term care costs in Singapore (5:50)
5. How a 30-year-old can use CPF Medisave to pay for premiums up to $600 a year, including a yearly cash top-up for higher monthly payout benefits (6:47)

Great Eastern: https://www.greateasternlife.com/sg/en/personal-insurance/thelifecompany.html

Great Eastern’s Live Lifeproof with GREAT CareShield: https://www.greateasternlife.com/sg/en/personal-insurance/our-products/health-insurance/great-careshield/disability-support.html

Great Eastern’s Disability Coverage Calculator: https://www.greateasternlife.com/sg/en/personal-insurance/understand-insurance/financial-tools-to-know-what-you-need/disability-income.html

Produced by: Chris Lim and Ernest Luis
Edited by: Adam Azlee
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