Mr Tan Kin Lian wrote another ebook about life insurance planning for Singaporeans. In the introduction, he said that,
For most working people in Singapore, the difference between the right and wrong choice can amount to more than $200,000.
To some, it might be a bold statement. But I think he has a case as he backed [...]
Mr Tan Kin Lian wrote an ebook on medical insurance. It is a short and easy to read ebook which only gives you the necessary information to make a good decision. You will be able to answer the following questions after reading the ebook.
Should you buy a Private Shield Plan or stick to Medishield?
In fact, [...]
A few insurance agents have criticised me for my views about over-spending on buying of critical illness and private shield. They argued that, even though the risk is small, it is necessary to protect against the risk.
It is important for consumers to make a balanced decision. Each person has only a limited amount of savings. [...]
This is a reply from Brendan, in response to my post, Is this a Good Deal? – Great Eastern Annual Cashback Endowment Plan. Brendan has gladly allow me to post it here. This will be his first guest post! (Brendan is an Investment Specialist and Financial Advisory Director at SingCapital. He is currently teaching other [...]
My girlfriend was approached by one of the Great Eastern (GE) agents at an MRT station. She was recommended the Annual Cashback Endowment (ACE) Plan and her initial thoughts was it sounded good as there were cash back and the investor will get more than the premiums he or she paid. She asked me if [...]
I received a few letters from my insurers to inform me that they have been included under the Policy Owners’ Protection Scheme (PPF Scheme). This scheme is administered by Singapore Deposit Insurance Corporation (SDIC), a company that is created by the Government of Singapore to look after small depositors and policy owners’ interests. The other [...]
I believe everyone should buy insurance to cover his/her “worst case scenarios” and not just buy because it is likely to happen. In fact, your worst case scenarios are likely to be low probability events and hence, unlikely to occur. But because they are unlikely to occur, most people are unprepared for them (just when [...]
Here are 2 interesting short videos on the workings of insurance:
How Does Insurance Work?
Deductibles and Co-insurance
Mr Tan Kin Lian kept a very good FAQ on personal insurance. Being an ex-CEO of an insurance company, he actually do not believe in buying whole life insurance policies and advocated buying term and invest the premiums saved in low cost funds.
There are a few guidelines he proposed when planning your personal insurance:
- Cover [...]