5 Biggest Pitfall to Avoid When Planning for Retirement. While thinking about retirement, one can be tempted to believe in the idea that it’s just a matter of saving for a while and the money will be there when need it. It’s not as simple as that. Experts advise us to plan ahead, estimating what expenses we might have in the coming years. If you’re planning for retirement, here are 5 things you should avoid: (more…)
According to The Business Times: 3 Jun 21, insurance industry to reduce par policies illustrative rates of return. The Life Insurance Association (LIA) said on Wednesday that the upper bound for par policies’ projected rate of return will be reduced from 4.75 to 4.25 per cent; the lower bound will be revised from 3.25 to 3 per cent. (more…)
In 2018, the Ministry of Health announced guidelines for policyholders to co-payment a minimum of 5% on medical claims made from their Integrated Shield Plan (IP) riders, to help address rising healthcare and health insurance costs in Singapore. The Health Insurance Task Force (HITF) also recommended that insurers incorporate suitable claims-cost control measures for all Integrated Shield Plan (IP) riders. (more…)
According to CPF Board, Ministry of Health first launched ElderShield in September 2002. ElderShield was offered to eligible Singapore Citizens and Permanent Residents (PRs) who had a MediSave Account (more…)
According to The Strait Times (PUBLISHED NOV 22, 2020, 5:00 AM SGT) there are four top misconceptions of insurance in Singapore. Click below to read the full article. (more…)
According to CPF Board, Dependants’ Protection Scheme (DPS) is a term insurance that provides insured members and their families with some money to get through the first few years should the insured members pass away or when they suffer from Terminal Illness or Total and Permanent Disability. Thus, DPS is a basic term insurance plan which covers death, Terminal illness and Total and Permanent Disability, currently up (more…)
According to Ministry of Health (MOH) Principal Causes of Death statistic for year 2017-2019 on the top of the chart is cancer. (source: https://www.moh.gov.sg/resources-statistics/singapore-health-facts/principal-causes-of-death) (more…)
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)
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Very often financial consultant generally encourage you to set aside 6 months’ worth of your living expenses as a personal and/or family emergency fund, in case unforeseen situation happened in your life. But is 6 months of emergency fund really enough during Covid-19 pandemic? (more…)
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Once I meet up with a prospect who just got married, and so I asked how is marriage life? He gave an unforgettable replies, “do you know what woman and insurance have in common? They are both expensive and difficult to understand.” I have to agree to my prospect and told him that if he know how to treat them right, he will receive more than he gives for both, and this is how I (more…)