Protection: your insurance policies

How do I add health insurance?

Add a policy under any of five types: hospital, personal accident, disability income, whole life, or term life. Each person keeps their own list. One policy card has its fields shaped by the type you picked.

Every card asks who’s insured, the company and policy name, and its start, end and premium-stop dates. From there, fields depend on the type:

• Coverage lines. Accident, disability, life and term policies take one or more, such as death cover or critical illness, each with its own amount.
• Premium frequency (monthly or yearly) is always asked, even for a hospital plan paid mostly from MediSave.

How do I add wealth insurance?

Three savings-and-investment types, endowment, ILP (investment-linked plan), and annuity, share health insurance’s base fields plus their own payout details. An ILP card shows projected rates, a reduction age, and an advanced fees and bonuses section.

• Endowment: a payout value at a set date, and a lock-in period before you can touch the cash value.
• ILP: a projected rate before and after a “reduction age” (when it takes less risk), plus an optional section for fees and bonuses.
• Annuity: a payout start date, a monthly amount, and how many years it lasts.

Payouts go straight into your plan’s cash flow in the year they land.

How do I see my coverage?

The Coverage and protection screen pulls your policies into one picture: for each of you, coverage rings compare what you hold against your ideal coverage for life cover, critical illness, disability payout, and disability income.

Each ring shows current cover (filled) against your ideal coverage (the ring’s full width), per person, per dimension, with the shortfall named below each ring, such as “$63.3K short.” In the example, one person’s rings read 61% life cover, 52% critical illness, 100% disability payout and 31% disability income, while the partner’s stay at 0% until policies are added.

Below the rings, coverage targets shows how each target is worked out: yearly income or expenses, times a multiple you can change, or a separate one for after you retire. Raise a multiple and its ring widens next recalculation; leave it and the app’s defaults apply. See Insurance & coverage for those multiples.

It also totals your premiums over time and lists every policy per person, so you can see cover, cash value and payouts without leaving the screen.