Paying $1 a Day to Reap Half a Million

My son has started his National Service (NS). As he charts his journey serving that nation, progressing from boyz-to-man, it's perhaps also timely to set him on the journey to manage his personal finances. As a national serviceman, he is entitled to sign up for the MHA/MINDEF group insurance scheme with Aviva. It is really a steal. $500,000 term insurance coverage (inclusive disability benefits) … [Read more...]

The ultimate price comparison of Integrated Shield Plans (IP / Riders)


Health is wealth. Without health, you cannot enjoy anything, even with all the money in the world. However, we occasionally take health for granted. As I aged, I start to see more illnesses happening around me which are constant reminders that I should put in more efforts to maintain good health. However, I can only do so much to prevent illnesses from happening. So, it's due time I do a post … [Read more...]

GMGH Insurance Review 2017

I did an insurance review just last year in Oct 2016, but I recently made some changes so I thought I'd just share that with anyone who is interested.Change 1: Addition of standalone Early CI / CI planIn November, I was pondering about early CI coverage. My main concern is how that my only current coverage is a rider of a group insurance policy. After weighing the pros and cons, I decided to … [Read more...]

The best insurance in life revisited.

Reader: I like your view on how to see term insurance as paying a sum of money for the protection from the accidents in life. Also how passive income is an alternative to paying for disability insurance.  I like to seek your views, since it take time to build up passive income, would u view buying disability insurance as an temporary expense before we reach our passive income targets? CPF … [Read more...]

How you can try to get your Disputed Insurance Policy Contract Untangled – Financial Dispute Resolution

Kyith: Hey, today, I will be bringing to you guys and gals something that is not often discussed on Investment Moats. We talked a lot about insurance but there are some aspects of insurance that I am not in a good position to look into. One area is, what happens when you get tangled in some form of mis-selling by an insurance adviser and you would like to seek recourse? The folks at Clearly Surely … [Read more...]

Don’t Fall For This Insurance Agent "Trick"

Don't mind the title, just trying to use the click-bait sort of titles to pull in the views, because this is a trick that most, if not all, of the slimy agents out there will use. The TL;DR is at the bottom, so jump there if you don't want to see my amazing story telling skills. ---------------------------------------------------------------------------------------------------------- I am … [Read more...]

Why You Didn’t Use Your Medisave???

Read? Financial Independence : Withdrawal??? Passive Income > Living Expenses??? (2) Today, Uncle8888 received a call from his medical insurance company asking why he didn't submit Medisave claim form. Insurance: Why you didn't submit your Medisave claim form? CW: Why do I need to submit Medisave form as I am paying total cash! Insurance: First 10% of medical bill is deducted from … [Read more...]

Shield Plan with NCD?!

Props to D&S for highlighting this news. I found the ST article about it and read more. In a nutshell, Prudential is gonna roll out a different pricing structure for their Private Hospital tier Shield plan rider. It's a mouthful, but that's what it is. If you are healthy, 10% NCD on the rider. If you sick af, 200% premium increase. Lolz. Personally, I like the idea of implementing … [Read more...]

The Shocking Case of An Insurance Policy

Just last week, there was a shocking case of an insurance policy which went viral. Apparently, this person's dad bought an endowment policy from prudential in 1994 where the maturity payout of the policy is suppose to be $42,000. He got a shock when his dad got a cheque of only $20,000+ just recently when it matured.My dad bought this prudential savings plan twenty years back and he was supposed … [Read more...]

I Surrendered My Whole Life Policy And Lose 80% Of My Capital


I thought this will be a good case study to look back on what I did recently at some point in the future. I would not call this a mistake that I did because I think the policy has served its purpose for the past 4 years which I no longer needed it anymore. Still, if there is a mistake to point out, it'll be that I'd be better off taking term back then. Well, time cannot be rewind, so I guess … [Read more...]

MediShield Considerations For The Next Few Decades

Raising Of PremiumsWhen I heard this piece of news that meant all insurers were effectively raising the premiums of their Integrated Shield Plans (IPs), I knew that I might have to reevaluate my health care insurance strategy.After all, according to the same report, “Claims for IPs covering treatment in private hospitals have risen by 17 per cent a year in the past few years” and in case you did … [Read more...]

Aviva Term insurance – So cheap!


I was actually thinking to change to Aviva for very long due to their really cheap prices. I know I am not a guy or NS men, but lucky for everyone, it's also applicable to spouse and children up to 25 years old. It is really affordable. For more details, read this pdf I confirm there is nothing cheaper in the market. Plus, you can buy at any age below 65, it will not get … [Read more...]

You don’t need an Innovative Term Insurance on your Credit Card Debt. You need to clear your Credit Card Debt


We should be wary about some of the products sold by banks. This week, I got a call from UOB Customer Service. Being a customer of their bank, this was not surprising. I was expecting them to extend some personal loan or investment plan. This time it is a bit different. The lady explain this new feature for my UOB One credit card. How it works is that if I did not pay off my credit card bill on … [Read more...]

Life Insurance Is Definitely Important Up To Point X In Our Life Journey!

In personal finance; we have to be competent over the three scopes coveringsaving, insurance and investment through our life journey. On that night; one guy asked Uncle8888 for his view on life insurance; as usual he would illustrate his view on the flip chart with marker pen. LOL! Now; he illustrated the same view with better diagram here... … [Read more...]

DIY Insurance For My Wife


Bye bye investment linked policy (ILP). We finally pulled the plug on my wife’s ILP. The one she bought from her ex-classmate after she snagged her first job. Who is no longer even in the company. Or the industry. I spent a little bit of time reviewing her current coverage and decided to make a little adjustment for her. At 60% of her old ILP policy’s monthly cost, I have gotten her four times … [Read more...]

The Three Matters On Personal Finance: Saving, Insurance, and Investment!!! (3) – Refresh!

Read? The Three Matters On Personal Finance: Saving, Insurance, and Investment!!! (3) The Grading for his competency in Personal Finance. It should be Well Done! He fully understands what is the purpose of Life Insurance when he was in his late 20s, married and progressively more children with more life insurance policies to protect his dependents. Life insurance is to cover Human Asset … [Read more...]

After 13 Years, I Sold My Endowment Policy!


In a rare case of “happy endings” with insurance companies, I sold my NTUC endowment policy that I bought during my NS days to a company that buys them. After calculating the quoted value that REPS Holdings gave me (using the spreadsheet from InvestmentMoats) by e-mail, versus the internal rate of return on the total value of premiums paid till date, it was at an “acceptable” value of -1.53%, … [Read more...]

Integrated Shield Plans… Co-Pay or No-Pay?


having health insurance is like having clothes... do you want to be running around naked? if you have health insurance, you have swag, trust me (okay, maybe not) First thing first, I am considering changing my Shield plan. Why? I just received a letter notifying me of premium increases and I have realized that there are objectively better shield plans out there. I currently have the NTUC … [Read more...]

My 23 Insurance Philosophy (revised after reflecting on the past 10 years )

Have you wonder if you planned something out, whether you are doing things the right way? 12 years ago, I had the idea how I could plan my insurance protection by doing it myself. I executed it. There were not much resources then in Singapore and the traditional way was to listen and buy what your insurance adviser recommended. These days, readers like yourself are more aware on the different … [Read more...]

Going in-depth on ILP vs term


Regarding my previous post going in depth on why I changed from ILP to term, I think there are many people who have questions and so to make it clear, here are the main reasons again: 1) My coverage increased from 250k to 1 million 2) Yet my premiums decreased half from $266 to  $139 3) Furthermore, the $266 for ILP will only increase with age while the $153 for term policy is fixed for the 25 … [Read more...]