CPF Life Basic or Standard Plan

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CPF Life Basic or Standard Plan

Postby tianzhu » Thu Jun 05, 2014 10:49 am

Hi

Good Morning.

Which one to choose --- CPF Life Basic or Standard Plan?

Best wishes

tianzhu
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Re: CPF Life Basic or Standard Plan

Postby starlight1968sg » Thu Jun 05, 2014 11:02 am

Hi tianzhu
Am not yet age 55.
At present, I would choose the Standard. I dont see the valid point or need to leave a high bequest as policies keep changing. It may be better for me to get some $$ 1st.
Thanks.

starlight1968sg
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Re: CPF Life Basic or Standard Plan

Postby starlight1968sg » Thu Jun 05, 2014 8:13 pm

None interested to share their views?

starlight1968sg
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Re: CPF Life Basic or Standard Plan

Postby wiimum » Thu Jun 05, 2014 8:26 pm

There is an article just last sunday 1 June , discussing this. It really depends on individual needs, hence choose accordingly. But do remember, the default is Standard, and the Standard Plan has a higher payout.

wiimum
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Re: CPF Life Basic or Standard Plan

Postby WeiHan » Tue Jun 10, 2014 11:22 pm

I do know that the medical will be covered at a higher percentage but don't know the detail.

But I am just wondering if the plan we bought from private insurance company is still needed.

WeiHan
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Re: CPF Life Basic or Standard Plan

Postby starlight1968sg » Thu Jun 12, 2014 3:00 pm

WeiHan wrote:I do know that the medical will be covered at a higher percentage but don't know the detail.

But I am just wondering if the plan we bought from private insurance company is still needed.

I am studying this part too. :evil:

starlight1968sg
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Re: CPF Life Basic or Standard Plan

Postby hophlng » Fri Jun 13, 2014 11:24 am

Even with Standard plan, even if you have satisfied the Minimum Sum, I don't think we can survive on the monthly income from standard plan. currently for male its about 1.1K per month.

hophlng
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Re: CPF Life Basic or Standard Plan

Postby hophlng » Fri Jun 13, 2014 11:25 am

WeiHan wrote:I do know that the medical will be covered at a higher percentage but don't know the detail.

But I am just wondering if the plan we bought from private insurance company is still needed.


it is itemized bill vs as charged. Even MediShield Life is not as charged, you will still need private integrated shield plan. The only question now is how much will be the increased premium?

hophlng
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Re: CPF Life Basic or Standard Plan

Postby CookieMonster123 » Fri Jun 13, 2014 12:05 pm

hophlng wrote:Even with Standard plan, even if you have satisfied the Minimum Sum, I don't think we can survive on the monthly income from standard plan. currently for male its about 1.1K per month.

The payout from cpf life is never intended the sole income during retirement.

CookieMonster123
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Re: CPF Life Basic or Standard Plan

Postby hophlng » Fri Jun 13, 2014 2:16 pm

CookieMonster123 wrote:
hophlng wrote:Even with Standard plan, even if you have satisfied the Minimum Sum, I don't think we can survive on the monthly income from standard plan. currently for male its about 1.1K per month.

The payout from cpf life is never intended the sole income during retirement.


very true, but.... in reality a different thing.

hophlng
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