What does it mean to be a parent amidst a global pandemic? We are living in unprecedented times, facing a host of challenges every waking day. We adjust, we adapt, from setting up that computer in the living room, to finding new ways of entertaining the kids – we get by.
In that light, how prepared are we in the event that something unfortunate happens? Do we have sufficient life insurance for family protection? If not, this is the best time to look into it. Here’s how you can do so, from the comfort of your home.
Why is Life Insurance So Important For Your Family?
Life insurance needs no introduction. As most of us understand, life insurance is primarily a safety net – to provide us with financial back-up in the event of unfortunate circumstances. Some of the key benefits of term and whole life insurance for family protection include:
- Lifetime protection for your family during hard times – the breadwinner of the family is disabled or receives a terminal diagnosis
- Protection against terminal and critical illnesses
- Help to deal with unexpected expenses – medical treatment, loss of income, outstanding mortgage, recurring childcare expenses etc.
- Payouts for death or permanent disability
- Reimbursement for medical expenses and hospitalisation
Most of us would have some form of coverage. But oftentimes, with our ever-increasing responsibilities, we may think of life insurance as a task to tick off from our to-do list.
Life insurance for family protection has never been more convenient!
We do the necessary research, get some suitable policies in place and that’s that. Especially while the family is still young, we might not think too much about coverage. However, that is the actually the best time to put policies in place for you when you’re younger and in the pink of health, premiums are significantly lower!
But as parents, surely, we want the best for our children. Ensuring that you have life insurance for family protection can’t stop what is to come, but it can definitely ensure that we are prepared to face the challenges that lie ahead.
Given the growing uncertainties that surround us, we face new and unprecedented threats. Especially now, with Covid-19 and Dengue cases becoming more prevalent, it is important to review if we are sufficiently covered, and to fill the gaps where necessary.
And if you haven’t gotten coverage at all, especially for the little ones, it’s time to see to it!
We understand that insurance policies can get complicated. Given our busy schedules, it’s all too possible to put off meeting an agent, more so with the current restrictions!
Well, we’re parents ourselves and we know what it’s like. That’s why we’re here to tell you all about how you can get convenient, flexible, and affordable insurance coverage online!
Digital Insurance Channel? Yes, Please!
No time to schedule a meeting with an agent? No problem! Tiq is a digital channel by Etiqa Insurance, an award winning local insurer. Rated ‘A’ Strong by credit rating agency, Fitch, Etiqa is regulated by the Monetary Authority of Singapore and owned by Maybank, so you know you’re in good hands!
Tiq is a digital channel that uses smart technologies to make insurance purchases a breeze for you. You can go online to find out all that you need to know, speak to a chatbot or live chat agents if you wish, and proceed to make your purchase. The best part? It’s cheaper than you think!
As parents, we are so caught up in raising children that the last thing we need is a long and complicated process when it comes to purchasing insurance policies. Or worse, a time-consuming process when we need to make claims. Etiqa Insurance is clear and honest, making purchases as well as claims a walk in the park. Here’s what it has to offer:
What Tiq by Etiqa Has To Offer A Busy Parent
Tiq by Etiqa can be your one stop for all insurance needs. Term and whole life insurance, motor insurance, home and maid, savings and even travel and lifestyle though you probably won’t be needing travel insurance just yet!
Most importantly, as parents, we need to look at term life insurance. As mentioned earlier, this offers coverage for the direct circumstances. More specifically, these are the benefits you can look forward to if you purchase a term life insurance policy from Tiq by Etiqa:
1. Death, terminal illness or total and permanent disability benefit
- Get up to $2 million coverage in the event of death or terminal illness to ensure that your family will not have to worry about debts or living expenses
Pay-out may be subjected to the terms and conditions governing this policy. Find out more at the bottom of this article.
2. Lump Sum Payout when diagnosed with total and permanent disability
Pay-out may be subjected to the terms and conditions governing this policy. Find out more at the bottom of this article
3. With an optional add-on coverage, you can get protection against 30 critical illnesses so that you and your family will be better able to cope with medical expenses and living costs (this is applicable for DIRECT – Etiqa term life policy)
4. Flexible Coverage and full control over coverage and premium
- Select your preferred insured sum of up to $400,000 for DIRECT – Etiqa term life or from $401,000 to $2,000,000 for ePROTECT term life. Choose from a renewable short-term 5 year plan to long-term plans of 20 years or up to age 65.
5. Medical Examination Flexibility – with DIRECT – Etiqa term life and ePROTECT term life coverage, for those under 40 and healthy, you can get up to $1.5 million coverage without the need for a medical check-up. For customers above the age of 55, the allowable limit for purchase without medical check-up is $100,000. If you require a medical check-up, Tiq by Etiqa will bear the cost!
ePROTECT term life
We understand the insurance policies can get costly, especially when you have children to include in your coverage. That’s why it is important to review your policies every now and then, and for add-ons when the need calls for it.
We understand that this period can be extremely stressful, and ePROTECT term life offers you more complimentary cover with less stress. You can take comfort in the fact that getting a term life insurance from Tiq by Etiqa offers you up to $52,000 in financial assistance benefits for COVID-19 as well as up to $2,000 in hospitalisation and ICU benefits from the side effects of taking the COVID-19 vaccine.
Furthermore, with ePROTECT term life, you can enjoy up to 18% premium discount throughout your policy term (valid until 19 November 2021). For example, a 30 years old female (non-smoker) would pay $133.30 (after discount) annually for a 5-year plan (translating to $0.37 per day!).Again, you can choose from a 5-year renewable plan, a 20-year fixed term plan, or one that protects you up till the age of 65. Try it for yourself here!
Mums and dads, we hope that this information is useful to you. Visit Tiq by Etiqa For more information on ePROTECT term life, or for a free quotation online, so you can start taking steps to ensure that you are prepared for any curveball that life throws at you.
Raising a family is one of if not the most fulfilling aspects of life. Yet it is also incredibly challenging. But never lose sight of the most important thing – the precious moments with your precious family, despite the odds.
The pandemic has changed life as we know it, but with the necessary precaution, and contingency plans should things go wrong, you can continue to embrace life and all that it has to offer!
Remember, you only get this time with your precious little ones once, cherish every moment knowing that you’ve taken the steps to give your family the best!
Read more about the terms and conditions governing the policy here.
This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). Protected up to specified limits by SDIC.
This content is for reference only and is not a contract of insurance. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you.
As this product has no savings or investment feature, there is no cash value if the policy ends or if the policy is terminated prematurely.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Information is accurate as at 28 June 2021.