Hospitalisation premiums have been increasing over the years due to the rising healthcare cost. Unknowingly the premiums have rose to very high amounts and if no one were to add it all up no one will know how much eventually are people paying in total.
Below i will show you a table showing the revised premiums on different IP plans in Singapore.
After adding up all the premiums paid from age 65 (retirement age) till age 88 (approx average life expectancy). The total premiums that is paid within this 20 over years is added up to approximately a whopping amount of up to $230,000!!
Do take note that for our CPF basic retirement sum is now at $88,000, Full Retirement Sum is at $176,000 and Enhanced Retirement Sum is now at only $264,000. Which means that anyone who have even save up till the Enhanced retirement sum, deducting all the premiums that they have to pay for their IP plans with riders, they will only be left with $44,000.
Below are the revised IP plan pricing table for your reference:
So do you think you have really saved up enough for your retirement or just so you thought? Contact us now to help you walk the retirement journey with you.
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