What are the types of insurance?

My income has been growing per annum and I always seem to have excess money that I don't use. I was thinking of inversting on different types of insurances such as live, health and accident insurances but I would also like to know what other insurances are there so I can think about which insurance to prioritise my investments on.

Confused About Financial Products?

You can chat directly and receive the best offers from the experts.

  • user image

    No Name

    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.

    2020.03.24 15:44

    Please leave your knowledge and opinion!

    Related Forums

    Will our insurance system fail one day?

    I don’t have immediate cash on me and the month is about to end, can I collect from my insurance?

    The insurance company that I invested is closing.

    I got hit by a vehicle, I need my insurance from my country.

    Can a baby that is blind get an insurance?

    The property that I have is going for closure, but I recently got my insurance.

    Related Reviews

    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

    Lowest debt consolidation plan interest rates in Singapore with effectivly low interest rates

    CIMB Debt Consolidation / CIMB Bank Berhad Singapore Branch

    CIMB advertises the lowest debt consolidation plan interest rates in Singapore, with effective interest rates as low as 7%. This is a great rate for some borrowers that are actually able to secure it; however it is difficult to assess the total cost of CIMB's debt consolidation loan compared to a loan from another bank.Additionally, because POSB, DBS and Maybank are offering cashback promotions and HSBC is offering S$100 cashback and waived processing fees, CIMB's lack of promotions and 1% processing fee make it a less appealing source for debt consolidation loans. It also offers loans with shorter durations of up to 8 years than many other DCP lenders in Singapore.

    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.

    Loans that allow borrowers to pay as little as half of their regular monthly instalments

    1st Credit Debts Consolidate Loan / 1st Credit SG

    UOB does not offer the cheapest car loans in Singapore, due to its higher than average interest rates. However, the bank can be a good source of financing for individuals that are unable to obtain less expensive loans.Additionally, UOB's HP50 car loans give borrowers added financial flexibility. This is because these loans allow borrowers to pay as little as half of their regular monthly instalments for the first 59 months of a 5-year loan. In the final month of this loan, borrowers can choose to either fully repay their loan with one final instalment, trade their current vehicle for a new car or enter a sell and lease back scheme with their dealer.

    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

    Confused About Financial Products?

    You can chat directly and receive the best offers from the experts.