Many people have sent an e-mail to ask for my advice on how they can buy low cost insurance and funds.
I have referred them to the following:
1. Business center of NTUC Income
2. i-Term available from Income's website
3. Flexi-link and Combined Fund from NTUC Income
4. Exchange Traded Funds from the Singapore Exchange
I have also referred them to a few NTUC Income advisers, who have agreed to offer only the low cost insurance and funds. As they earn a small commission, you should not expect them to spend too much time visiting your home. Discuss with them by e-mail or telephone, or visit their office.
Some other people have recommended unit trusts available thorugh Poems (Phillips Securities), Fundsupermart, DollarDex and Finantiq. I agree with the use of these internet portals, but you should choose the low cost funds.
See this FAQ:
http://www.tankinlian.com/faq/savings.html
You can read the following FAQs on how to buy insurance directly:
http://www.tankinlian.com/faq/termd.html
http://www.tankinlian.com/faq/motord.html
Saturday, January 5, 2008
People will buy insurance
For decades, insurance professionals have held the view that "insurance has to be sold". People will not buy insurance on their own. The solution was to train insurance agents and pay them high commission to sell the insurance products.
Times have changed. People will buy insurance for the following reasons:
1. They want to be protected financially against the risk of death or disability
2. They want to save and earn a good return for the future
3. They will buy an insurance product that gives good value to them.
4. They need to find someone that they can trust.
In my blog and website, I will educate people about the good value products, including the following:
1. Term insurance
2. Personal accident insurance
3. Low cost, diversified investment funds
Tan Kin Lian
Times have changed. People will buy insurance for the following reasons:
1. They want to be protected financially against the risk of death or disability
2. They want to save and earn a good return for the future
3. They will buy an insurance product that gives good value to them.
4. They need to find someone that they can trust.
In my blog and website, I will educate people about the good value products, including the following:
1. Term insurance
2. Personal accident insurance
3. Low cost, diversified investment funds
Tan Kin Lian
Low cost funds
You can buy low cost funds directly through the following internet portals:
a) Poems, http://www.poems.com.sg/
b) Fundsupermart http://www.fundsupermart.com/main/home/index.svdo
c) DollarDex http://www.dollardex.com/SG/INDEX.CFM
d) Finantiq http://www.finatiq.com/home/index.shtm
More details at:
http://www.tankinlian.com/faq/lowcost.html
a) Poems, http://www.poems.com.sg/
b) Fundsupermart http://www.fundsupermart.com/main/home/index.svdo
c) DollarDex http://www.dollardex.com/SG/INDEX.CFM
d) Finantiq http://www.finatiq.com/home/index.shtm
More details at:
http://www.tankinlian.com/faq/lowcost.html
Low cost Personal Accident
You should buy a Personal Accident insurance to cover 5 years of your income. If you earn $30,000 a year, you can insure for $150,000.
This policy will cover death and permanent disability caused by accidents, as follows:
a) Amount payable on death: $150,000
b) Double indemnity under certain circumstances: $300,000
c) Permanent disablement: depending on extent of disability, up to $150,000
d) Temporary Disablement: $150 a day, up to 104 weeks
e) Medical Expenses: up to a specified amount for any one accident
f) Emergency Evacuation and Repatriation
An accident is usually defined as being caused by an external, violent, unexpected event. This is intended to exclude claims for illness or poor health.
The standard policy will usually exclude pre-existing physical or mental defects,
pregnancy and childbirth, war risks, motorcycling, climbing or mountaineering necessitating ropes or guides, judo, karate and some hazardous sports. You can pay a higher premium rate to cover some of these risks.
The annual premium for a sum assured of $150,000 varies from $100 to $300, depending on your occupation and on the insuranced company that provide the insurance.
More details can be found at:
http://www.tankinlian.com/faq/pa.html
This policy will cover death and permanent disability caused by accidents, as follows:
a) Amount payable on death: $150,000
b) Double indemnity under certain circumstances: $300,000
c) Permanent disablement: depending on extent of disability, up to $150,000
d) Temporary Disablement: $150 a day, up to 104 weeks
e) Medical Expenses: up to a specified amount for any one accident
f) Emergency Evacuation and Repatriation
An accident is usually defined as being caused by an external, violent, unexpected event. This is intended to exclude claims for illness or poor health.
The standard policy will usually exclude pre-existing physical or mental defects,
pregnancy and childbirth, war risks, motorcycling, climbing or mountaineering necessitating ropes or guides, judo, karate and some hazardous sports. You can pay a higher premium rate to cover some of these risks.
The annual premium for a sum assured of $150,000 varies from $100 to $300, depending on your occupation and on the insuranced company that provide the insurance.
More details can be found at:
http://www.tankinlian.com/faq/pa.html
Big change in Taiwan over 32 years
My last visit to Taiwan was 32 years ago. The tourist guide explained the many restrictions under martial law. Strict action was taken against dissenters. People were put behind bars for minor offenses.
Today, the situation has changed considerably in Taiwan. People are free to express their views. Democracy thrived. People are more confident, more courteous, more relaxed. They enjoy life.
Today, the situation has changed considerably in Taiwan. People are free to express their views. Democracy thrived. People are more confident, more courteous, more relaxed. They enjoy life.
Impression of Taiwan
I have now returned to Singapore, after spending 12 days in Taiwan. This is the longest holiday that I have taken.
My impression of Taiwan is favourable. I like the following:
1. The MRT system and taxi service
2. Taipei 101 and the nearby buildings
3. Politeness and helpfulness of the people
4. Food and snacks
5. Hot spring and spas
My impression of Taiwan is favourable. I like the following:
1. The MRT system and taxi service
2. Taipei 101 and the nearby buildings
3. Politeness and helpfulness of the people
4. Food and snacks
5. Hot spring and spas
Subscribe to:
Posts (Atom)