Archive

Patrick Lim

Ms Sumiko Tan – I’ll stick to fixed deposits

October 6, 2008 by Patrick Lim
By: Patrick Lim Every Sunday, I always look forward to going to church for a time of worship and after which, I enjoy ‘catching-up’ with fellow worshippers. And once home, and to relax, one of the things i will do is to pick up a copy of the Sunday times and dive straightaway to Ms [...]

in Categories: Personal Finance

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Deposit Insurance Scheme

October 4, 2008 by Patrick Lim
By: Patrick Lim Over these past couple of weeks amidst the current global financial crisis, I have been asked over and over again whether monies placed in our financial institutions (both local and foreign) are safe? On this, I was not really surprised many consumers are still unaware of the deposit insurance scheme which came [...]

in Categories: Personal Finance

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Premiums of integrated shield products heading north?

September 17, 2008 by Patrick Lim
By: Patrick Lim Recently, the CPF board rolled out the basic Medishield plan with enhancements which will come into effect on December 01, 2008. The primary objective of the enhanced basic Medishield plan is to pay up to 80% of larger hospital bills at all government restructured hospitals’ lower class b2/c wards as compared to [...]

in Categories: Insurance

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High commissions?

September 10, 2008 by Patrick Lim
By: Patrick Lim There is this perennial perception in the consumer’s mind that financial advisers are wont to recommend a whole life product because of the very high commissions payable to them. And of course, this perception has been augmented rather frequently by well known personalities like Mr Tan Kin Lian and Dr Larry Haverkamp. [...]

in Categories: Insurance

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Allow Singaporeans over 40 to use Medisave for health screening?

September 8, 2008 by Patrick Lim
By: Patrick Lim Over the years since the basic MediShield plan was launched in 1990, the use of MediSave has evolved to multi uses. One of the latest initiatives is to allow the use of MediSave to co-fund the CPF member’s outpatient chronic disease management program. The Chronic Disease Management Programme was started in Oct [...]

in Categories: Personal Finance

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Truth about insurance payouts

September 8, 2008 by Patrick Lim
By: Patrick Lim Firstly, my first thoughts centred on whether the article could have been evenly presented because the reporters have picked (by coincidence?) 2 well known personalities namely Mr Tan Kin Lian and Dr Larry Haverkamp who have been pretty unfavourable in their articulation on participating life insurance products. Therefore, on the principle of [...]

in Categories: Insurance

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Excuse me, are you an IFA? – Part 4

August 3, 2008 by Patrick Lim
By: Patrick Lim Well, this is the final part of expounding on my role and standing as an IFA and it is with humility that I am still in the business because chiefly of God’s grace and what I believe to be my clientele’s trust in me in looking after their interests and financial well [...]

in Categories: Insurance, Personal Finance

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Excuse me, are you an IFA? – Part 3

August 3, 2008 by Patrick Lim
By: Patrick Lim Well, as promised, for today, I shall attempt to address the widely held beliefs that an IFA may not offer unbiased advice and also bypass products not found in the IFA’s stable. First and foremost, please allow me to digress by going into a little bit of history with regard to my [...]

in Categories: Insurance, Personal Finance

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Excuse me, are you an IFA? – Part 2

August 2, 2008 by Patrick Lim
By: Patrick Lim At one glance, the above table aptly summarises the differences between all practicing financial advisers under the ambit of the FAA passed in Cctober 2002 and credit (for the above table) goes to Mr David Choo, Managing Director and founder of Promiseland Independent Pte Ltd which also appeared in the original article [...]

in Categories: Insurance, Personal Finance

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Excuse me, are you an IFA?

July 29, 2008 by Patrick Lim
By: Patrick Lim Hi, all, Firstly, please allow me to tender my most abject apologies to all of my regular readers of my blog for not posting even a single entry after the last one in march 2008. You see, since my MIA some months ago, I continued to receive many queries from both consumers [...]

in Categories: FAQs, Insurance, Personal Finance

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Buy Term Invest The Rest (BTITR)

March 13, 2008 by Patrick Lim
By: Patrick Lim Today, I had the onerous but urgent task of helping one of my clients to raise instant $$$ to fix very pressing needs. One of these is to pay his monthly mortgage loan. You see, he is in his early 50s and has been out of work for more than a year. [...]

in Categories: Insurance

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Hospital Delays Likely During Exam Period

March 12, 2008 by Patrick Lim
This article was published on Friday 7 March edition of the Straits Times: Salma Khalik Health Correspondent Expect some delays at hospitals later this month, while senior doctors put 230 future doctors through their exams. These final-year medical students at the NUS have to be tested in their craft “on the ground”, which means they [...]

in Categories: Insurance

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A tale of 2 annuities

February 27, 2008 by Patrick Lim
Read about Patrick’s comments on a recently published article in the Straits Times on Prudential irregular payment for the annuity plan. By: Patrick Lim A tale of 2 annuities – Part 1 Problem of annuity paid on irregular dates I refer to the CPF life annuity, a new scheme that provides a lifelong income for [...]

in Categories: Insurance

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Vivolife – Market Comparison

January 24, 2008 by Patrick Lim
Vivolife is a recently launched limited premium WL policy by NTUC. Patrick’s comments has been pretty positive. Here’s his take on it. By: Patrick Lim As promised, I have finally completed a market comparison of Vivolife versus the competition, meaning all 10/15/20/25 years limited premium whole life products priced with reviewable and non-guaranteed premiums. obviously, [...]

in Categories: Insurance

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The Oprah Show

January 16, 2008 by Patrick Lim
By: Patrick Lim Just caught the Oprah show – “Sick in America, it can happen to u” on the hallmark channel which was telecast from 10 to 11 pm. One of the guests for tonight’s episode is a celebrity film-maker, Mr Michael Moore, who gain fame for his documentary, Fahrenheit 9/11. Tonight’s show highlights his [...]

in Categories: Insurance

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Medisave, Medishield… Medi-crisis?

January 5, 2008 by Patrick Lim
By: Patrick Lim This article appeared in today’s front page of today: http://www.todayonline.com/pdf_open.asp?id=0501FPW001 By: Stanley Jeremiah The writer is a lawyer and chartered insurer who is immediate past president and council member of the Singapore Insurance Institute. Patrick’s Comments: I agree with the crux of the issues raised. one of the critical points highlighted is [...]

in Categories: Insurance

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My New Year Wishes For The Insurance Industry

January 1, 2008 by Patrick Lim
By: Patrick Lim Besides the usual resolutions made at this time of the passage of the old year, I have several wishes that I sincerely hope all insurance companies will give due and worthy consideration for implementation in the new year: A. Standardisation of all application forms B. Have a central pool of underwriters to [...]

in Categories: Insurance

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TPD payout structure of earlier generation policies

December 30, 2007 by Patrick Lim
Patrick’s comments on the recent TPD ruling. By: Patrick Lim High Court draws distinction with policy-holders who are totally, permanently disabled By K.C. Vijayan (vijayan@sph.com.sg) TPD or not TPD – that was the question before a High Court judge. TPD is ‘Total and Permanent Disability’, and a standard clause in life insurance policies here. But [...]

in Categories: Insurance

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