The traditional financial planning technique used by professional financial planner is to assume that one’s dependents are not permanent. The most common are children as dependents. When they finish school, they are not supposed to be a liability to their parents anymore. That is why a term insurance covering for a short period of support is most suitable. However, there are cases in which a … [Read more...]
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Fineprints for Aviva SAF Insurance for NSmen
The Aviva SAF Insurance is a very popular policy used by those who has done their national service. To those who are not sure whether are they insured with the Aviva SAF Insurance, they can check their certificates whether they have bought any of the following policies: Aviva SAF Group Term Life Insurance Aviva SAF Group Living Care Policy Aviva SAF Group Living Care Plus Aviva SAF Group … [Read more...]
Early stage lung cancer becomes 4th stage due to delay
Read today's (21 April 2011) Mind Your Body page 18 entitled "Time difference" written by Dr. Ang Peng Tiam on how one of his patient's early stage lung cancer ended up becoming fourth stage. If it was an early stage, a surgery would do. But as fourth stage, the treatment would have to be either chemotherapy or 'do nothing and wait his time.' In hokkien, it is called 'ta-si'. Due to the advance … [Read more...]
What Spa, Timeshares have in common with life insurance?
Time again and again, we hear of customers demanding back their money for their Spa packages. News such as 70 customers demanding S$249,000 from True Spa have become too common and most people would just skip reading the news. In 2010, the top number 1 and 2 complains which CASE handled were related to ‘Beauty’ and ‘Timeshare’ respectively. According to the report HERE by CASE, “The beauty … [Read more...]
Misunderstanding in Medishield
It appears to me that many people have some misunderstanding on how Medishield works. One thing that is misunderstood is the mistaken believe that Medishield is an as-charged policy for subsidized government hospital after the patient has fulfilled his deductible and co-insurance obligations. Far from truth, Medishield is NOT an as-charged policy but rather is a dollar-cap policy. Perhaps the … [Read more...]
Stumped by low MediShield payout
Once again, there is a letter of complain entitled Stumped by low MediShield payout sent to the Straits Times forum page that the Medishield payout was a miserable $450 despite the hospital bill of $2300 in C class ward in NUH. For the second hospital bill of $2,200, Medishield only paid $900. Once again, this is a reminder that the low Medishield payout continue to be a surprise to many due to … [Read more...]
Question on Being Rejected / High BMI / Moratorium Underwriting
“Dear Wilfred, With regards to your article on health insurance for obese. In the article, you advised that if we have been previously been rejected by other insurance company, we should not apply for Aviva Myshield as moratoriun underwriting.. Should I then go for a medical health screen, then apply for full medical underwriting? Is there other insurance company recommended that will accept … [Read more...]
86% intend to use whole life insurance for retirement?
I got a shock when I read that 86% of those surveyed by Citi Financial Quotient Survey 2010 that they intend to use whole life insurance for retirement funding! According to the Today Online 'Most say CPF savings not enough' 2 Feb 2011, "Singaporeans are turning to alternative means to take them through their silver years. These include proceeds from investment and insurance products. The most … [Read more...]
Are Your Umbrellas Strong?
Medical insurance is an important insurance which many has neglected. Yet, getting a suitable coverage is more difficult than it seems. In this issue of INVEST, Wilfred Ling writes about this topic which can be downloaded HERE. The article was first appeared on CPF Board's IMSavvy Blog Corner:http://www.cpf.gov.sg/imsavvy/blog_post.asp?postid=410028623-190-948406457 … [Read more...]
Worker incurred $147,000 medical bill in C class ward without subsidy!
I read a complain letter written by Mr. Tan Guan Seng to the Straits Times about a worker who was not entitled to government subsidy at C class ward just because it was a work-related injury. Due to some certain rules, NUH could not provide him with the usual government subsidy. The letter written can be found Worker served with $147,000 C-class bill The breakdown of his medical bill as … [Read more...]
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