Circuit-Breaker-Insurance-an-Essential-Service-We-Are-Open-sg

The government’s circuit breaker measures will start tomorrow. Most shops will be closed, dining establishments which are open will only offer take outs or delivery. Most of us will be working from home while our students will start home based learning the day after.We are entering a very difficult phase. If we cannot flatten the COVID-19 curve, we will end up with DORSCON Red. We do not want that, do we? Please follow the measures so we can overcome this COVID-19 pandemic together. I know it is very difficult but our best contribution in this fight is to STAY HOME. For the elderly, this is most advisable – Senior Minister Goh Chok Tong (06 April 2020)

Circuit Breaker: Insurance an Essential Service: We Are Open

In order to further reduce the risk in local (Singapore) transmission of COVID-19, Covid-19 Circuit-Breaker measures had been implemented. During Covid-19 Circuit-Breaker period, many non-essential services has to stopped operating, or implement work-from-home (WFH) strategies through online and telecommunication to continue with their business. We are very fortunate, insurance is part of an essential service and we are open and I am here for you on your insurance and financial planning needs. Feel free to arrange a meeting with me. You may choose to have the meeting virtually through Zoom video conferencing at the comfort and safety of your home. And to protect your privacy no recording will be done during our online meeting. We can discuss on your yearly policies review and latest market updates, and if you need to obtain any of my services, you may do so too during our telecommuting session. So, I look forward in seeing you on video, through my virtual insurance and financial planning services. Stay home and stay safe.

 

FAQ During Circuit Breaker Period on My Insurance Service:

  • Question: Is there critical illness insurance policy that covers Covid-19?
    • Answer: No, currently critical illness insurance policies do not cover against Covid-19, but currently, many insurance institutions are graceful to provide complimentary coverage exclusively on Covid-19, as long as you are their clients without additional charge. (please contact me or your friendly financial consultant for more details on the coverage)
  • Question: Can I still submit my claims during circuit breaker period?
    • Answer: Yes, you may, as insurance is an essential service, I will continue to help you on your claims application.
  • Question: If I want to do withdrawal from my policy can I still do it during circuit breaker period?
    • Answer: Yes, you may, for example if you want to withdraw your yearly cash benefits from your policy, I am able to help you on your withdrawal application.
  • Question: Am I still able to do assignment / change in premium payment method / change on premium payment frequency to my policies during circuit breaker period?
    • Answer: Yes, I am able to help you on your application on these changes to your policies.
  • Question: Can I still do my insurance policies nomination during circuit breaker period?
    • Answer: Yes, you are still able to do your nomination for your insurance policies during circuit breaker period. I am able to email you the required nomination forms, and guide you through.
  • Question: Can I still obtain new life insurance, endowment saving, investment plans during circuit breaker period, but I do not want to meet up face to face ?
    • Answer: Yes, you are able to do so, by arranging an online meeting with me through Zoom video conferencing at the comfort and safety of your home. And if you decided to obtain any new policies from me, you may do so during our online meeting.

 

Currently many insurance institutions are graceful to provide complimentary coverage exclusively on Covid-19, as long as you are their clients without additional charges, so please contact your friendly financial consultant to find out more.

Lastly, think about it, this crucial period during Covid-19, you might be facing an example of non-voluntary retirement. Your business or work is not operating, your income got cut or no income at all, you will wish there is a guarantee stream of income flowing into your account, and take away all your financial burden. That is what all of us will be facing when we retired, income will stop, but we will still need a stream of income every month to support ourselves. Start your retirement planning now, as wealth accumulation takes time, it will not happen overnight. As you are not on vacation because the world had closed their border, and many shops and services are not operating during this period. Spend some time on your retirement planning, during this “quiet” period. This will also be one of the best times to look into your personal investment portfolio, as there are always opportunities during down time.

 

Note: Opinions expressed are solely in Mr. Chan Kong Meng’s personal capacity and neither express the views or opinions of Prudential nor represent any professional advice in Mr. Chan Kong Meng’s capacity as a PACS representative.

 

One Last Thing

I am here for you as Insurance is part of an essential service during Covid-19 Circuit Breaker period. Please ensure you have adequate insurance coverage and tap on the additional Covid-19 coverage provided by selected insurance institutions. Feel free to arrange a meeting with me. You may choose to have the meeting virtually through Zoom video conferencing at the comfort and safety of your home, on your insurance and financial planning needs. Make use of this “quiet” period to start reviewing on your insurance and financial planning needs, your personal investment portfolio and your retirement planning. Stay healthy and stay safe everyone.

 

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