Course Description

Synopsis:

This Insurance Adequacy and Retirement Planning series consists of the 4 main topics below:

1. Understanding Basic Health Insurance

This topic consists of 2 parts.

• Part 1 - provides an understanding of what health insurance is for and the common types of health insurance available.
• Part 2 - focuses on CPF health insurance schemes, i.e. Dependents’ Protection Scheme, Home Protection Scheme, MediShield Life and CareShield Life.  

This topic is suitable for those who want to understand the basics of health insurance such as coverage for critical illness, hospital income and disability, their features and benefits as well as understand how CPF health insurance schemes should form part of one’s overall health insurance.

2. Understanding Life Insurance

This topic consists of 3 parts:

• Part 1 – provides an overview of purpose of insurance, assessing your insurance needs and usefulness of compareFIRST.
• Part 2 – delves into understanding life insurance, typical features of different types of life insurance products commonly available.
• Part 3 - focuses on what Direct Purchase Insurance (DPI) is, its benefits and how it may suit your needs when considering buying life insurance. 

This topic is suitable for those who want to understand the types of life insurance products and be able to make informed decisions when choosing suitable products for themselves.

3. Building Your Nest Egg

This topic consists of 4 parts:

• Part 1 - Start Saving Early for Retirement - illustrates the importance of starting early when it comes to building retirement savings/nest egg.
• Part 2 - Assess Your Retirement Income Needs – shows you how to calculate your retirement income needs.
• Part 3 - Options to Build Your Retirement Income - shares some key sources from which you can consider when building your retirement income/nest egg.
• Part 4 - Review & Rebalance Regularly! – reminds you of the importance of reviewing your retirement plans especially with regard to your investment/savings portfolio and shows you how to do it.

This topic is suitable for those who want to begin retirement planning and wish to get insights on key steps involved. It provides practical solutions on how to grow your nest egg as well as options to consider in augmenting savings, in order to accumulate sufficient nest egg for more secure retirement. 

4. Introduction to Estate Planning

This topic consists of 3 parts:

• Part 1 - informs us of what estate planning is about and why it matters.
• Part 2 - shows us the key process involved in estate planning.
• Part 3 - focuses on Lasting Power of Attorney (LPA), what it is for and how to go about getting this done.  

This topic is for those who want to know what estate planning is about, why it is important and how it can help to distribute the assets according to the wishes of those who have passed on. It will also help those who want to plan should they lose mental capacity to ensure their care needs are well taken care of. 

Intended For:

• Audit Professionals/ PAIP
• Finance Professionals  / PAIB 
• Public Sector Finance
• C-suite & Directors 
• Business Owners

Competency Mapping: 

• CPE Category "Others" = 1.5 CPE Hours