We all need some form of coverage for when life hits us and we go down for the count. Insurance companies make money from our foresight and planning for the inevitabilities that may come our way. And rightly so, since they compensate for things that will definitely occur in life - like death. They essentially guarantee to cover our physical losses suffered so to reduce the devastation of such loss. As we progress in our financial capabilities, we want to ensure we’re fiscally able to afford basic medical needs in the event of emergencies.
Protecting your assets is something taught to you since young, when parents would teach you to save coins and notes and then stash them out of sight. A sort of insurance for rainy days to come. Those assets upgraded from a tupperware, to a drawer, to a home safe, and eventually a safe deposit box off-site. So here are six basic insurance policies you'd want to cover yourself for rainy days too, aside from relying on just your savings.
1) Life
Life insurance is the most basic coverage one could get. It covers death, so compensation pays out to your family and loved ones. Some policies take it further to include disability and critical illnesses also. And because that can be boring, companies usually take it up a notch by adding an investment aspect of it, which you can determine in how many decades (between 10-30 years or more) the investment will be paid out to you.
2) Hospital
The government has got us covered for MediSave, and more recently MediShield, which you can add-on more features through Integrated Shield Plans via CPF or cash top-ups. This is so you can have a more pleasant rest in air-conditioned Class A wards after that emergency burst appendix removal, though remember that premiums will increase after that.
Most companies will have you covered under Group Insurance, so if you do have to claim for in- or out-patient hospital bills due to work accidents, do it under your company and save on your premiums.
3) Personal Accident
If you’re an avid road cyclist in skin-tight, non-protective bicycle attire, or are mastering Salsa in 5-inch heels, or training one year for a marathon, you may want to get personal accident coverage. It covers all the pain points when you literally are in pain from a sport injury, or a broken arm when you slipped from just walking down the street.
So long as it happens outside of work, there’s not much by way of worker’s compensation you can claim. Hence a personal accident insurance is needful here.
4) Car
You must have car insurance in Singapore as long as you own a vehicle. Otherwise it’s a hefty $1k fine, prison and disqualification of license for a year. You wouldn’t want that after all that money and time spent at the driving school and another $100k or more spent on the vehicle and COE (results being $85k-$96k as of 2nd bidding in March 2024). Also, if your vehicle is that costly already, it is worthwhile to ensure it gets all the protection it needs.
Furthermore, it doesn’t help that almost all vehicles are now automatic transmission, smart and sometimes electric-charged. Accidents happen at higher speeds, and at the simple press of a foot pedal... and if electrical fires break out, those don’t go out easily. Does not sound like smart tech after all, huh?
5) Travel
Never thought that Dubai, and more recently Switzerland, would be hit by major floods? It was a stupendous loss of super cars overnight that the world had ever seen, when one natural disaster hit Dubai in mid-April. Taiwan also saw 2 major earthquakes tear through its cities this year.
Your travel destination is already fraught with uncertainties like language and cultural differences, and whether you brought enough cash or credit to spend. And besides fending off gypsy pickpockets, there’s now a chance your lodgings and belongings get water-logged by thunderstorms. It’s fun to travel, but when it’s no longer fun, it’s time to call your insurance agent on speed dial.
While travelling in Singapore, foreigners can always place their valuables and travel documents like passports Vault@268's private vault for safekeeping. An added layer of protection to your overseas stay for short- or long-term*.
6) House
Let’s face it - as long as you own property, you need to insure it. From a $400k HDB to a $40m bungalow, you’re going to want to cover your bases. Your entire lifestyle and livelihood are contained in this special place of your own, and all your jewellery and watch collections are squirreled away in home safes. Though you had to find out the hard way your old roof sprung a leak, or your new phone exploded on your bed when overheated.
And you’d also want to show off your 12-year Zodiac silver coin collectibles in a display case and gold foil art pieces on the walls for guests to admire... but which can also be easily lifted. So all the more you want to make sure you are compensated in the event of fire, flooding, theft and any other potential damage you know your home might be prone to.
On top of getting home insurance, you can also apply to have your safe deposit box contents further insured by your own agent or by our affiliated insurance agent (existing clients contact our staff for an insurer referral).
Storing your insurance documents in the safe deposit box facilities of Vault@268 is important. Securing your valuables like passports, high jewellery, watches and precious metals in our private vaults is necessary. Your documents and assets will remain well out of harm’s reach.
Vault@268 guarantees its strongroom has military-grade resistance walls with Grade 8 Certification from the European Certification Board (ECB•S).
Be protected from all possibilities. Contact our sales team today for a personal tour of Vault@268 soon - 67377 268, vault@268.com.sg.
Insurance: For when Life Gives You Lemons, and You Need Safe Deposit Boxes
We all need some form of coverage for when life hits us and we go down for the count. Insurance companies make money from our foresight and planning for the inevitabilities that may come our way. And rightly so, since they compensate for things that will definitely occur in life - like death. They essentially guarantee to cover our physical losses suffered so to reduce the devastation of such loss. As we progress in our financial capabilities, we want to ensure we’re fiscally able to afford basic medical needs in the event of emergencies.
Protecting your assets is something taught to you since young, when parents would teach you to save coins and notes and then stash them out of sight. A sort of insurance for rainy days to come. Those assets upgraded from a tupperware, to a drawer, to a home safe, and eventually a safe deposit box off-site. So here are six basic insurance policies you'd want to cover yourself for rainy days too, aside from relying on just your savings.
1) Life
Life insurance is the most basic coverage one could get. It covers death, so compensation pays out to your family and loved ones. Some policies take it further to include disability and critical illnesses also. And because that can be boring, companies usually take it up a notch by adding an investment aspect of it, which you can determine in how many decades (between 10-30 years or more) the investment will be paid out to you.
2) Hospital
The government has got us covered for MediSave, and more recently MediShield, which you can add-on more features through Integrated Shield Plans via CPF or cash top-ups. This is so you can have a more pleasant rest in air-conditioned Class A wards after that emergency burst appendix removal, though remember that premiums will increase after that.
Most companies will have you covered under Group Insurance, so if you do have to claim for in- or out-patient hospital bills due to work accidents, do it under your company and save on your premiums.
3) Personal Accident
If you’re an avid road cyclist in skin-tight, non-protective bicycle attire, or are mastering Salsa in 5-inch heels, or training one year for a marathon, you may want to get personal accident coverage. It covers all the pain points when you literally are in pain from a sport injury, or a broken arm when you slipped from just walking down the street.
So long as it happens outside of work, there’s not much by way of worker’s compensation you can claim. Hence a personal accident insurance is needful here.
4) Car
You must have car insurance in Singapore as long as you own a vehicle. Otherwise it’s a hefty $1k fine, prison and disqualification of license for a year. You wouldn’t want that after all that money and time spent at the driving school and another $100k or more spent on the vehicle and COE (results being $85k-$96k as of 2nd bidding in March 2024). Also, if your vehicle is that costly already, it is worthwhile to ensure it gets all the protection it needs.
Furthermore, it doesn’t help that almost all vehicles are now automatic transmission, smart and sometimes electric-charged. Accidents happen at higher speeds, and at the simple press of a foot pedal... and if electrical fires break out, those don’t go out easily. Does not sound like smart tech after all, huh?
5) Travel
Never thought that Dubai, and more recently Switzerland, would be hit by major floods? It was a stupendous loss of super cars overnight that the world had ever seen, when one natural disaster hit Dubai in mid-April. Taiwan also saw 2 major earthquakes tear through its cities this year.
Your travel destination is already fraught with uncertainties like language and cultural differences, and whether you brought enough cash or credit to spend. And besides fending off gypsy pickpockets, there’s now a chance your lodgings and belongings get water-logged by thunderstorms. It’s fun to travel, but when it’s no longer fun, it’s time to call your insurance agent on speed dial.
While travelling in Singapore, foreigners can always place their valuables and travel documents like passports Vault@268's private vault for safekeeping. An added layer of protection to your overseas stay for short- or long-term*.
6) House
Let’s face it - as long as you own property, you need to insure it. From a $400k HDB to a $40m bungalow, you’re going to want to cover your bases. Your entire lifestyle and livelihood are contained in this special place of your own, and all your jewellery and watch collections are squirreled away in home safes. Though you had to find out the hard way your old roof sprung a leak, or your new phone exploded on your bed when overheated.
And you’d also want to show off your 12-year Zodiac silver coin collectibles in a display case and gold foil art pieces on the walls for guests to admire... but which can also be easily lifted. So all the more you want to make sure you are compensated in the event of fire, flooding, theft and any other potential damage you know your home might be prone to.
On top of getting home insurance, you can also apply to have your safe deposit box contents further insured by your own agent or by our affiliated insurance agent (existing clients contact our staff for an insurer referral).
Storing your insurance documents in the safe deposit box facilities of Vault@268 is important. Securing your valuables like passports, high jewellery, watches and precious metals in our private vaults is necessary. Your documents and assets will remain well out of harm’s reach.
Vault@268 guarantees its strongroom has military-grade resistance walls with Grade 8 Certification from the European Certification Board (ECB•S).
Be protected from all possibilities. Contact our sales team today for a personal tour of Vault@268 soon - 67377 268, vault@268.com.sg.
*min. 1 year rental subscription applies.
Reference:
https://dollarsandsense.sg/much-cost-coe-car-singapore-today/