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3 Ways To Amplify Your Children’s Ang Bao Money

3 Ways To Amplify Your Children’s Ang Bao Money

The next few days will be very precious for many Singaporeans who celebrate Chinese New Year! After this weekend, everyone will be left with full stomachs and happy hearts. In addition to that, children and young adults will be taking away a pile of ang […]

3 Chinese New Year Superstitions you should follow!

3 Chinese New Year Superstitions you should follow!

Even though Chinese New Year is a time of festivity, there are quite a few things you should avoid doing to dodge a year of illness or bad luck.   1. Don’t wear black clothing or white clothing: Many people love wearing black and white […]

Life Insurance Made Simple

Life Insurance Made Simple

What is life insurance? Should I have life insurance? Isn’t life insurance just for old people?

Definition of Life Insurance  

Life insurance is a form of financial protection. Adequate monetary support will be provided to the insured’s family to cover the insured’s family’s daily expenses and ensure minimal disruption to their lifestyle.

The Basics

Life insurance is a type of protection. It is meant to protect your nearest kin in the unfortunate event that your life in its current form is taken, either because of death or due to a permanent disability. The protection takes the form of money, which your nearest kin receive upon your death. This amount of money is known as the “sum assured”. The circumstance which triggers or results in payout of the sum assured and the sum in itself are two of the major components of life insurance.

Let’s summarise what we have learned so far. Life Insurance consists of two major components: size of payout and triggering event. The difference between the seemingly millions of insurance policies out there lies solely in these two components. The price tag on the different life insurance policies is directly related to these two components as well. If we think of it in that way, it’s not so painful to grasp!

Breaking it down into categories

There are a few basic categories of Life Insurance. Let’s summarise them in the simplest of terms.

1. Term Life: Insurance is provided for a fixed period of time. The insurance company pays the sum assured in the event of death. The event could also be total and permanent disability (“TPD”) if the insurance policy specifies this as a triggering event. If it is not specified, death is the triggering event.

2. Whole Life: As the name probably relays, this policy is life-long. The sum assured will be paid out to loved ones (“dependents”) upon death.

3. Endowment Insurance: This policy is like the Term Life insurance, but with an extra serving of sprinkles on top! In reality, the sprinkle is a special type of savings. There are a few variants, but the main idea is that a part of the payment you make each month or year to the insurance company is invested. The return on the investment acts as a savings account for you. Usually, these types of policies have a strict time interval, meaning that you cannot cash out your savings before a decided-upon date.

By varying the type of life insurance plan, the payout amount, and the triggering events, a kaleidoscope of policies can be formed. Diving in to choose the one that is right for you can, of course, be quite arduous.

Why is life insurance important?

Now you may wonder, if it’s such a bickering process finding the right life insurance, why should you even give it a second thought? The answer depends on which stage of life you are at and what sort of lifestyle you are living.

For a young family of moderate income, life insurance should be a given. If either parent were to pass away or become permanently disabled, the ramifications on the remaining family members are both emotionally and financially negative. For the sake of your family, it is vital that you have proper life insurance coverage.

For a young person without life insurance, the pros of having life insurance are that the payout can cover funeral costs, potential debts, and possibly help a chosen loved one (called a beneficiary in insurance policies). Not having kids does not automatically mean that there’s no one to care for in your life. The same goes, of course, for an adult without children! There are policies called “First-to-die” for couples. These policies are priced almost the same as a single-person policy, and the sum assured is applied to the individual who first passes away.

In addition, one reason for purchasing life insurance at a young age is that the premium (the name for the cost per month or cost per year) is generally lower for a young and healthy individual. Purchasing later in life may result in a much higher premium for the same coverage. Especially if your health deteriorates due to, for example, a chronic illness.

Life insurance can also be seen as an investment opportunity or a way to safeguard mortgages or other debts. A life insurance policy can even be given as a present to a child, in a similar way to how funds may be given. However, the most important aspect is that your loved ones are taken care of in the case that a fateful event was to take or drastically change your life. Let me once again summarise what we have learned: life insurance is important! Purchasing and understanding a basic life insurance is within every person’s capability, so go buy now!

Which life insurance is best for me?

Check out these products at

How can I acquire life insurance (without all the hassle)?

Begin by checking out the life insurance products available on PolicyPal! You will be able to select a policy which fits your lifestyle, needs and budget.

Of course, it is possible to contact insurance companies directly as well, and then make comparisons amongst them. The disadvantage of that is that it will be more difficult to get a bird’s eye view of available plans.

To decrease the hassle even further, you can upload your life insurance policy and other insurance policies onto the PolicyPal app. The app uses OCR technology to collate all the important information, such as the premium amount and coverage amounts. For all of your policies, the important information is organised and premiums are summarised. You’ll be able to view all of your policies on the go and in one app! It’s the ultimate bird’s eye view, allowing you to see all of your insurance policies in one place.

Endowment Insurance Made Simple

Endowment Insurance Made Simple

Endowment refers to a type of investment, defined by its strict guidelines and its likeness to a savings account. It is a tool which can help you get through life. Keep reading to find out exactly how endowment can help you! How is endowment connected […]

4 Last-Minute Valentines Day Gift Ideas

4 Last-Minute Valentines Day Gift Ideas

One more day till Valentine and you still have no idea what to buy for your other half? Fret not, we’ve got your back! Doesn’t matter if it’s your first Valentine’s Day together, or you’re racking your brains trying to figure out how to up […]

4 ways to beat the jam to JB this CNY period!

4 ways to beat the jam to JB this CNY period!

Being one of Singaporeans’ favorite destinations for a quick getaway, the traffic towards Johor Bahru (JB) is very often congested. With Chinese New Year just around the corner, we thought it’s a good time to share some tips on how to beat the jam!

1. Download and Beat the Jam! apps

Checkpoint sg is an app which allows you to monitor the real-time traffic condition across the Causeway and Second link. With this app, you are allowed to check the traffic conditions before embarking on your journey.

Beat the Jam

Beat the Jam! is an all-in-one Causeway traffic monitoring tool that provides Google Traffic data with real-time jam estimates, checkpoint traffic images and traffic trends at the Causeway and Second Link. It even extrapolates historical data to provide traffic forecasts – so you can even get a 24-hour forecast of traffic trend, up to 6 days ahead! Use it to plan your next trip across the border!

2. Apply for MACS (Malaysian Automated Clearance System) pass

Photo by author

I’ve had one unfortunate incident of taking bus 950 from Woodlands to JB, and the highway was clear throughout the bus journey, but it took me close to 1.5 hours just to clear the Malaysian customs. If you are a frequent traveller to Malaysia, I would strongly encourage you to apply for the MACS (Malaysia Automated Clearance System) pass.

MACS JB immigrationImage Link

Previously, applicants had to visit the MACS service counters at the Causeway or Second link checkpoints. Fortunately, Singaporeans can now simply drop by the new MACS branch counter in Singapore. All ordinary Singapore passport applications will be processed for a fee of SGD$35.00, renewable annually.

If I had known about the MACS (Malaysia Automated Clearance System) pass earlier, I would not have spent 90 minutes waiting in line just to clear the immigration queue!


3. Take train/bus

Train and bus to Johor BahruImage Link

With a mere S$5 train ride, you can travel from Woodlands to JB in comfort while avoiding the traffic congestion. Do note that you have to book the tickets in advance in order to secure a seat as many others will be trying to secure a train seat to beat the jam too! Also, taking a bus will help you to avoid the Causeway jam as buses have their designated bus lane on the Causeway. In addition to public buses, there are many private bus operators that charge a flat rate of RM2 per trip to fetch you to and fro the Causeway.

4. Go during weekday afternoon

After monitoring the traffic for the past week, the average waiting time to cross the Causeway to JB on weekend is up to 2-3 hours. Traffic starts to build up from 7 a.m. and persists on all the way till late afternoon. Hence, the optimal time to travel towards JB is a weekday afternoon, so you should perhaps take a half-day leave and run all your CNY errands!

While JB is great for an awesome day of shopping, good food and relaxation, there are still many cases of unfortunate incidents happening and it is always important to safeguard yourself against any unforeseen circumstances. This CNY, we are offering 8% discount* and 15% cashback when you purchase any travel insurance policies with PolicyPal. Use code ‘Msia8’ now and have a safe trip to Malaysia!

*Promo Code is valid till 28th Feb 2018.
*Valid for all travel insurance except eTiQa

Pet Insurance Guide For New Paw Parents

Pet Insurance Guide For New Paw Parents

I recently got my dog Gou Gou and he’s the cutest dog ever. My dog owner friends informed me that vet fees can be exorbitant and advised that it would be wise for me to take out insurance for Gou Gou’s sake. In all honesty, […]

Serviced apartment hunting: 4 tips to pick the perfect home

Serviced apartment hunting: 4 tips to pick the perfect home

When you’re travelling overseas for an extended stay, choosing the right accommodation is crucial. No one wants to stay in a place they’ll hate for weeks or even months. The best mantra to adopt is choosing something that’ll feel just like home, away from home. […]

Kickstart 2018 With The Best Cashback Deals

Kickstart 2018 With The Best Cashback Deals

Cashback is obviously something we all love, hence lots of companies are now offering cashback one way or another. Here are some of the best deals that we have shortlisted:


1. DBS Visa Debit Card

cashback dbs visa debit card

Yes, there are many articles debating which are the best cashback credit cards at your disposal but not everyone is eligible to apply for all these credit cards. Here’s where this card comes in handy, it’s a debit card AND you get 5% off all PayWave transactions! From supermarkets, fast food chains and many other retails outlets, Paywave is available at most merchants in Singapore. So just tap and enjoy!

However, do note that you have to keep your cash withdrawals to 3 times or less and up to $400 every month to be eligible for the 5% cashback.


2. ShopBack


If you love online shopping and have yet to try Shopback, then you’re definitely missing out! With over 500 online stores to choose from, there’s something for everyone. Some may lament that it’s cumbersome 1. going through the links from its app/web and 2. withdrawing the cashback amount. But hey, if you are spending a sizeable amount monthly online, I’ll be of the view that spending those few minutes is well worth it.


3. PolicyPal

policypal cashback

Insurance is an essential in everyone’s lives — you insure your home, your vehicles, and your life. Do you know that you can now earn cashback on your insurance premiums? PolicyPal now gives out 15% cashback for travel insurance, 10% cashback for motor insurance and 5% cashback for pet insurance purchases. With 7 partners for travel insurance and 7 partners for motor insurance, you will be able to find the plan that best caters to your needs! Your accumulated cashback amount can be viewed on your profile, and you can use this amount to deduct from future purchase during checkout.

For example:

John is looking for a car insurance policy which costs $1,000 so he can now enjoy 10% cashback! This means John will receive $100 cashback and can use it to offset the premium of his next travel, motor or even pet insurance policy.

Do check out PolicyPal’s website at for more information!


Know other exciting deals? Share with us today!

Li Chun 2018: Best Times To Bank-In Your Money

Li Chun 2018: Best Times To Bank-In Your Money

How will you maximize your luck this year? The answer may lie in the absolute best time to deposit money on Li Chun, coming up in just a few days! And what is the absolute best time? A combination of zodiac signs and numbers will […]

Top Travel Essentials You Must Have In 2018 + Travel Freebies Up For Grabs

Top Travel Essentials You Must Have In 2018 + Travel Freebies Up For Grabs

Regardless of being a seasoned or first time traveller, it is undeniable that there are a whole lot of items that you want to pack inside your baggages. Other than the usual travel items such as clothing, phone, toiletries and money, what are some of […]

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