Recently, a number of Members of Parliament wanted the government to regulate the Integrated shield plans to prevent profiteering. I feel that regulation to prevent profiteering should not be encouraged in the free market system like Singapore as it gives the impression that the pursue of excellence in making good profit is bad. Whether profit is good or bad depends on whose perspective. A … [Read more...]
You are viewing articles categorised under Insurance
MediShield Life full report
Medishield Life details were published in the newspaper in bits and pieces for the past six months. Most people still has no clue as to what Medishield Life is all about because of the information overload. If you are one of those who ‘turned-off’ to all those newspaper articles related to Medishield Life, it is time you "turn on". The government has decided to accept the recommendation of the … [Read more...]
Aviva SAF Group Insurance can be terminated without prior notice
Fineprints have literally become so small you need a magnifying glass to read it Very often I find that the insurance portfolio of my clients consists of buying investment linked policies with very low protection benefit but at an exorbitant premium. The only 'good' policies they have would usually be CPF’s Dependents' Protection Scheme and the Aviva SAF Group Insurance. (To those who are not … [Read more...]
Analysis of PruGolden Income Premier, Aviva MyIncomePlus and others
This is an article on how to analyse retirement products specifically single premium types. A typical retirement product is manufactured by insurance company. Typically when you buy a retirement product you will consider the following: The period of ‘accumulation’ phase and the length of ‘payout phase’. Whether is the premium single premium or regular premium? Whether the payout is … [Read more...]
TM Retirement PayCheck vs PruGolden Income
TM Retirement PayCheck and PruGolden Income are both retirement products. These products are regular premium. In this article, I will provide a comparison between these two products against the regular premium competitions namely Aviva MyRetirement and NTUC Income SAIL (RP). If you are looking for single premium retirement products, please refer to this blog article: Analysis of PruGolden … [Read more...]
POSB refused to allow daughter to empty father’s account
Daughter has to empty all of father's bank accounts to pay hospital bills In a complain letter written to the Straits Times on 1 April 2014, Ms. Ruth Wong wrote that it was a hassle to close her sick father’s POSB bank account. Apparently, Ms Wong’s father was so seriously ill, that all of his personal savings was required to be withdrawn to pay for the hospital bills. Using letters signed by her … [Read more...]
Question on Investment Linked Policy charges (ILP charges)
Question: Wilfred, my financial adviser sold me a product called X and he told me that the insurance charges are constant throughout my entire life. My premium is $1,200 a year. However, I read in the forum that such ILPs’ insurance charges increase with age. I am confused, can you advise me how much will I be paying when I am say at 80 years old? I am a male and non-smoker. Answer: The … [Read more...]
Question on whether is Medishield Life applicable to me?
Question: Wilfred, there has been a lot of publicity with regard to Medishield Life. I am insured with NTUC Income Enhanced Incomeshield Preferred plan. Is Medishield Life still applicable to me? Answer: Medishield Life is an enhancement to the current Medishield. Those who are insured with Medishield will enjoy the new enhancement that will be introduced with Medishield Life. What you … [Read more...]
Refused kidney dialysis because got no money
I read from the newspaper in horror that Singapore has the fifth highest kidney failure rate in the world. What is even worse is that there are some kidney patients who refused treatment because they cannot afford to do so. The article published on 24 February 2014 by Straits Times entitled “Some kidney patients refuse treatment and choose to die” stated that Khoo Teck Puat Hospital had 24 … [Read more...]
How does OCBC Mortgage Protector Plus, an insurance product with premium refund, work?
Very often consumers do not want to buy insurance because they perceive it as a waste of money if there was 'no claim'. Therefore, the financial industry invented the insurance policy with 'premium refund'. Recently, the Business Times reported that a OCBC Mortgage Protector Plus, a mortgage reducing insurance with a premium refund, sold very well for over the last 4 years. According to the … [Read more...]
- « Previous Page
- 1
- …
- 5
- 6
- 7
- 8
- 9
- …
- 18
- Next Page »
