If you go into the shop to buy product A for $1,000. There is another product B which is similar to A, but it cost $1,500 and gives additional items worth $300. Do you prefer product A or B?
Some life insurance products are designed to be like product B. It charges a higher premium and gives you frills that are worth less than the additional premium. But the customer is not able to know the value of the frills. The sales agent sells the enhanced product, because they can earn a higher commission. The enhanced product gives poorer value to the customer due to the higher marketing cost.
Lesson: Go for the standard products that can be compared easily. You can get better value due to competition. If you buy a complicated product, you are likely to be over-charged.
Tuesday, January 1, 2008
New Year Celebration in Taipei
Taipei celebrates the New Year in style. At the stroke of midnight, fireworks are set off in many building in Taipei. The most spectacular is the fireworks at Taipei 101, the tallest building in the world. This is followed by the fireworks at other buildings. Here is a short video clip.
http://www.youtube.com/watch?v=dbVWrIAdD1U
http://www.youtube.com/watch?v=dbVWrIAdD1U
Observatory at Taipei 101
I visited the observatory at Taipei 101 on New Year Day, 1 Jan 2008.
It was crowded. I had to queue for 30 minutes to take the lift to the 89th floor. The observatory occupied the entire floor and give a 360 degree view of the city of Taipei from the tallest building in the world.
The observatory provided an audio guide. It explains the various landmarks that can be seen from each side of the building. It uses high-tech in an effective way.
The express lifts to the observatory travelled fast and smooth. It received the world record for being the fastest lifts. It reached 89 floors in 37 seconds, without any jerk or noticeable acceleration.
Admission to the observatory cost NT 350 (SGD 16).
It was crowded. I had to queue for 30 minutes to take the lift to the 89th floor. The observatory occupied the entire floor and give a 360 degree view of the city of Taipei from the tallest building in the world.
The observatory provided an audio guide. It explains the various landmarks that can be seen from each side of the building. It uses high-tech in an effective way.
The express lifts to the observatory travelled fast and smooth. It received the world record for being the fastest lifts. It reached 89 floors in 37 seconds, without any jerk or noticeable acceleration.
Admission to the observatory cost NT 350 (SGD 16).
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