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$147,198 Although Ms. X saved less every month and less in total, the total value of her retirement fund today is $26,802 more than Ms. Y’s. to start charting out a retirement plan for yourself. So here I am, a millennial who decided to start looking into it at 25 years old. Disclaimer : Given that I’m not a professional in this area, I’m writing this from a beginner’s perspective for anyone who is interested to get started. As such, this article does not aim to get into the nitty-gritty details of retirement planning (please approach a trusted advisor to help you with that!).

1. MediSave limits for hospitalisation & surgery Sorry, but you cannot use your MediSave to pay for that GP visit you made in order to get an MC. If you get hospitalised or have to undergo day surgery, however, you will be able to use MediSave to pay. Two types of MediSave limits apply: (a) daily hospital limits (which only apply to hospital charges excluding surgery) and (b) surgical limits (only apply to surgery). So if you get hospitalised and undergo surgery, you can claim up to two different limits. (a) MediSave limits for hospital charges Type of hospital stay Inpatient episodes

January 19, 2021 Pexels Besides setting new year resolutions and financial goals for 2021, here’s a reminder why an annual review of your insurance policies is a #Need. It’s the start of yet another new year — cue new found determination to stick to your exercise routine, diet plans and monthly budget.  While it’s still early in 2021, here’s another goal to add to the list: sit down with your financial advisor to do a thorough review of your insurance plans.  We’ll admit, coffee with your advisor doesn’t exactly come across a first ballot new year to-do. But doing a review of...

Term life insurance Critical illness insurance Disability insurance Personal accident insurance 1. Health insurance Health insurance is probably the most essential type of insurance to have on this list. In a nutshell, health insurance pays for your medical bills if you get hospitalised, as well as outpatient bills incurred before and after your hospital stay that fall within certain time limits. Hospitalisation benefits If you’re a Singapore citizen or PR, you already have MediShield Life, a very basic form of health insurance from the government. But MediShield Life’s claim limits are q...