Forum
Last updated: 

What auto insurance will reassure me that my family will be able to use the money I saved in case I died unexpectedly?

A very close friend of mine suddenly died due to a car accident. Since his death was unexpected, he was not able to prepare for it. He did not save money for his insurance and now his family is suffering. Given that he was the only one providing his family's needs, her wife is devastated. Now that the breadwinner is gone, they were left in hell. I wanted to make sure that my family will not face the same situation his family is experiencing

User comments

  • user image

    No Name

    Be reassured with the insurance that you have by making sure that you read the contract thoroughly. There are ways where life insurance is not applicable or will not cover the death. First, is when the cause of death is suicide. It will also not cover when there are health-related issue to the death nor when illegal activities where done. There are some cases wherein the insurance will not be applied because it is outside the country. When a person also died because of armed conflict. Always make sure that you read what you have signed because we do not want every effort will not pay off.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

Insurance

Gonna cost me a lot of money for my surgery

Insurance

What is the scope of those accident insurance?

Insurance

What are the insurances that are locally present?

Insurance

A person with disability needs insurance.

Insurance

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

Insurance

What are the types of insurance?

Related Reviews

Insurance

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

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.

DBS Debt Consolidation Plan / DBS Bank

Insurance

Low interest rates and awesome cash rebates

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.

Maybank Debt Consolidation Plan / Maybank Singapore

Insurance

With interest rate as low as 0.59% per month and a repayment period up to 10 years

BOC Debt Consolidation Plan (DCP) helps you pay off high interest balances with interest rate as low as 0.59% per month and a repayment period up to 10 years. You can consolidate all your credit cards/unsecured loans balances with no tiered interest, no lock-in period for your funds and no monthly conditions to meet, you have flexibility on hand while your account balance expands.

BOC Debt Consolidation Plan / Bank of China

Insurance

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

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.

CIMB Debt Consolidation / CIMB Bank Berhad Singapore Branch

Insurance

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

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.

Citi Debt Consolidation Plan / Citibank Singapore

Insurance

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

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

UOB Debt Consolidation Plan / United Overseas Bank