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In this course, we will learn about the purpose of insurance and how we can go about determining our insurance needs. We will learn how to compare between different life insurance products and learn strategies in selecting the right types of insurance for our needs.
Different types of Life Insurance policies are covered:
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|Section 1: Introduction|
|This video introduces the Basics Of Life Insurance e-learning module.
This e-learning module is made up of narrated slides, Mashups and text/images.
|This MoneySENSE Core Financial Capabilities Framework consists of:
|In this lecture, we will consider the importance of insurance, including the risks that can cause a financial loss and how to assess your protection needs.|
This lecture provides notes about insurance and the rational behind buying insurance.
|Section 2: Basics of Life Insurance|
In this lecture, we discuss about using the Needs Approach in order to assess our insurance needs.
The CPF Insurance Estimator is available at https://www.cpf.gov.sg/cpf_trans/ssl/financial_model/insurance_estimator/ie1.asp .
This lecture provides notes about the steps to determine how much insurance is required. It follows the Needs Approach.
|This calculation example shows how the amount of insurance that you need can be calculated based on a insurance estimation. This online calculator can be found at https://www.cpf.gov.sg/cpf_trans/ssl/financial_model/insurance_estimator/ie1.asp|
In this Mashup, Felicia discusses and compares various types of insurance.
The factors discussed are:
|Section 3: Types of Insurance Explained|
This lecture provides notes about the different types of Insurance - Life, Health and General Insurance. Learn the key features of each type of insurance.
|In this lecture, the key features and key considerations of each type of insurance will be elaborated upon:
This lecture provides notes about the following types of insurance. The key features and key considerations of each type of insurance will be elaborated upon:
|This is a detailed explanation about Investment-Linked Insurance Policies (ILPs), including its Key Features and what to consider when purchasing your ILP.|
This lecture provides notes about Investment-Linked Insurance Policies (ILPs). Find out about its Key Features and what you should consider before purchasing Investment-Linked insurance.
|Section 4: Choosing Insurance|
|In this lecture, you can find out more about how to interpret your insurance documents.|
This lecture provides notes about various information that you should take note of in your insurance documents.
|In this lecture, Felicia highlights various strategies that you can use when choosing between different insurance products. She presents different scenarios in which different types of insurance are suited.|
This lecture provides notes about various strategies that you can use when choosing between different insurance products.
|Section 5: Summary and Conclusion|
|In this lecture, we present a Case Study where Mr Ng needs to accumulate $200,000 in 15 years' time. Which insurance or investment products should he choose?|
|This example compares various savings options including endowment and ILP.|
This lecture contains a list of critical questions that you should ask yourself before choosing an insurance product to meet your savings and investment needs.
This lecture provides a written summary and comparison of various types of insurance products.
|This lecture concludes the e-learning module on "Basics of Life Insurance".|
|Quiz 1||3 questions|
Try this quiz to test your understanding of the material covered in this e-learning course.
|This lecture contains links to additional resources where you can learn more about money matters pertaining specially to Singaporeans.|
BA (Hons) Business and Finance
Ferris Wee is a qualified Financial Planner, and through his previous workplace, a global financial services company, he has helped more than one hundred clients with his clear process in reviewing their financial needs. Specifically, he has helped clients to identify their goals and ensure that they make the right choices to meet those goals today, tomorrow and in the years to come.
Ferris is passionate about leading people beyond financial breakthroughs, and has conducted financial literacy training in Singapore and Indonesia, as well as sports camp training for youths in India. Ferris is also an experienced financial counselor, helping many people manage their budget to meet their financial responsibilities.
Ferris is a Certified Will Writer, and has provided Professional Will writing, estate planning and custody services. He is also an Associate Estate Planning Practitioner.
Prior to his career in financial planning, Ferris was with the Republic of Singapore Air Force working on budgeting, logistics, maintenance and overseeing safety issues. For his strong leadership qualities, Ferris received the Outstanding Safety Warrior Award.
Ferris has a BA (2nd Class Upper Honours) specializing in Business and Finance. He also holds industry certifications in M5, M8, M8A, M9, M9A, HI, BCP and PGI.
The MoneySENSE-Singapore Polytechnic Institute for Financial Literacy is a collaboration between MoneySENSE, the national financial education programme in Singapore and Singapore Polytechnic.
MoneySENSE is spearheaded by the public-sector Financial Education Steering Committee which comprises representatives from the Ministry of Health, Ministry of Social and Family Development, Ministry of Education, Ministry of Manpower, Central Provident Fund Board, Monetary Authority of Singapore, National Library Board and People’s Association.
Our financial education courses cover basic money management, financial planning and investment know-how.