Added MINDEF Group Personal Accident Coverage

So after I cancelled my ILP, I finally diverted it to purchase MINDEF Group Personal Accident, most of it still goes to investments though.

I purchased the plan through this link.

It is a rather cheap coverage as it is subsidised by MINDEF to NSmen like me.

Some conditions are required prior to joining

• NSFs
• NSMen
• Regulars
• MINDEF or MHA Public Officers
• Volunteers (MINDEF/MHA/SPF/CDAU)
• Employees (FT/PT/Contract) of DSTA/MINDEF or MHA Related Organisations
• Aged 65 or less

Here are some reasons why I took this up

• Need personal accident coverage (no underwriting for max coverage)
• Potential addition of Group Term Life (GTL) in the future if coverage is required to be increased (cheap too! no underwriting up to 1M for Life+TPD)
• Did some research and the CI and ECI is only cheap until age 30, so thereafter, it is more costly as it is increasing rather than flat rate
• Once signed up for the Group Personal Accident (GPA), I can add other components like GTL and riders
• Medicare (GP visits) and Disability Income Riders seems cheap enough to have a look 
• If I ever become self employed in the future or even FI, the Medicare seems worth to warrant a look.
• Allows any potential spouse and/or future kids who have no to little insurance cover to piggyback and buy it with no underwriting, however coverage is equal or less than whatever I have bought
• Coverage continues even if I pass on early as long they can pay the premiums

The process of purchasing it is rather smooth and fast, everything comes thru email as well! After selecting plans, coverage, input details and pay by credit card, the certificate and other information all comes in email. Makes me wonder if all the other DIY Insurance Platforms are this way (damn awesome if it is).

Note that UOB and DBS if you happen to buy a total of $500 and more in premiums, you can split into monthly insurance premiums via card.

I was bored and started playing around like choosing the different options, commissioned officer/key appointment holder/MHA, all didn't seem to change my premiums. I wonder what's the differences if there is.


Quite curious if the Group Term Life can be used instead of HPS though.