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What are the types of insurance?

It is a good thing that you are taking an interest in investing money on your insurance. There are not 1, not 2, but over 20 different types of insurance. The most common tupes are Life, Health and Travel Insurance but there are also Home, Child, Maid, Car, Pet and Personal accident insurance as well.

Can my doctor charge me for co-pay even if I've already reached my out-of-money maximum?

If your insurance company tells you that you are not required to pay for co-pay then it just means that you are not required to. You should try telling the doctor's billing department because in most cases, the doctor's are not informed about this. Once you've consulted with the billing department they should reinburse the money that you've used.

What is a Personal Accident Insurance?

Personal accident insurance pays you either a lump sum or reimbursements for out-of-pocket expenses in case of injury, disability or death resulting from an accident. Unlike medical insurance, the premiums are fixed, and you do not need to undergo any medical examination before the policy is incepted. The basic coverage are accidental death and or disability, children and medical reinbursement.

Who is/are eligible for a Personal Accident Insurance?

Based on your information, you are definitely eligible. The eligibility for personal accident insurace are first you have to reside in Singapre, two, you have to be a citizen of Singapore, a permanent resident or a pas holder, and lastly, you must be between 16-70 years old. This plan is also renewable upto the age of 75.

Can people be declined of the personal accident insurance based on his/her occupation?

Sad to say that people with hazardous occupations or people with occupations that are prone to accidents are declined by the insurance companies. Examples of these occupations are construction workers, fire fighters, police, military, divers pilots, aire crews, ship breakers, ship crew, and more alike.

Would there be a possibility that I may be convicted and sentenced to jail if I was to fail paying my Insurance?

No there is no possible outcome that the insurance company will or will be able to give you such a punishment as that that insurance companies are not given that form of power especially in issuing such moves such as sueing an individual for the inability of payment but the insurance agreement that was agreed upon maybe voided if not enough funds are present in the account of the client

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They charge a joining fee and early redemption fee

Standard Chartered Debt Consolidation Plan / Standard Chartered Bank Singapore

Debt consolidation loans from Standard Chartered are a part of a debt consolidation plan. The plan consists of the loan and a Platinum MasterCard. Effective interest rate of 7.70% and loan lengths can stretch from three years all the way through to ten years with regular fees for the Platinum MasterCard charged. They charge a joining fee of S$199 and S$250 for early redemption fee

Enjoy the convinence of merging debts into one account with a fixed interest rate.

Citi Debt Consolidation Plan / Citibank Singapore

Debt consolidation loans from Citibank allow you to merge debts into one account with a fixed interest rate. Citibank bundles the debt consolidation loan into the Citibank Debt Consolidation Plan. This plan also provides you with a capped revolving credit facility, to be used as a payment method for daily expenses. If you need to get your debts organised, consider a debt consolidation plan from Citibank.

UOB's debt consolidation plan is an effective yet expensive alternative to other plans

UOB Debt Consolidation Plan / United Overseas Bank

UOB's debt consolidation plan is best viewed as an expensive alternative to other plans because the bank advertises interest rates that are higher than those of its competitors. Borrowers that have not previously used UOB's services are however eligible for slightly better rates but it is unclear what rates these borrowers will receive in due to the vague wording on the UOB's website

Offering material savings for those with a significant amount of debt.

DBS Debt Consolidation Plan / DBS Bank

POSB and DBS are offering the most significant promotional deal for debt consolidation loans. This promotion provides a cashback of 3% of the approved loan amount to borrowers. This can result in material savings, especially for those with a significant amount of debt. While the banks charges S$99 for processing fee, it is rather insignificant for applicants that receive the cashback promotion. Additionally POSB and DBS advertise flat interest rates as low as 3.98% (7.23% EIR). These rates are among the lowest available in our review of debt consolidation plans in Singapore however, they are not guaranteed.

Low interest rates and awesome cash rebates

Maybank Debt Consolidation Plan / Maybank Singapore

Maybank's promotional interest rates for its debt consolidation loans are as low as 3.88%; EIR 6.92% making it an affordable option for borrowers that are able to obtain the bank's best rates. Additionally, Maybank is offering a cash rebate of S$388 to approve applicants. Maybank's current promotions for its debt consolidation plans make these loans a competitive option.

HSBC stands out as one of a few lenders that provides details regarding its interest rates

HSBC Debt Consolidation Loan / HSBC Bank Singapore

HSBC offers the lowest guaranteed flat and effective interest rates for debt consolidation loans in Singapore. Additionally, it is currently waiving its application fee for online applicants, which is normally S$88 or 1% of the loan amount. While other lenders advertise lower rates than HSBC, they use vague language such as "as low as" that indicates that borrowers may actually be offered substantially higher rates. For this reason, HSBC stands out as one of a few lenders that provides details regarding its interest rates. Additionally, it offers the lowest rates among banks that guarantee interest rates published online.