Early Critical Illness Pondering

Among the level of my grandparents and my parents, aunts and uncles (2 and 1 levels above me in my family tree), 40% of them have got cancer and not all of them are over 65 yet.   Basically, based on my horrible genetics, I think that there is a very high chance that I would likely be afflicted with cancer in the future. Of course, health is wealth and I will definitely try to mitigate this … [Read more...]

Why I Cancelled My ILP (Investment-Linked Policy)


How should I read the numbers on my Investment-Linked Policy (ILP)? I lost more than 2 months worth of salary to learn this important lesson: when insurance and investments are bundled together into a single product, the consumer is often left worse off. A few years ago, when I was a naive fresh graduate in my first job, I met a friend of mine to understand more about financial planning and … [Read more...]

Disability Income Insurance – A Comprehensive Look at an Important Protection for You

About 7 years ago, my good friend told me about what happen to his boss. Then, my friend was working in a bank doing product control and his boss manages a team of six. One fine day, his boss got into an accident while on the road. His life was not in danger. However, he damaged his lower part of his body and they have to do a few operations to repair the hips. Then, the boss have to rehabilitate … [Read more...]

Lifetime 50% NCD Guarantee – FWD Insurance Pushes the Singapore Insurance Market


If you are a proven safe driver who has earned a 50% NCD, wouldn’t you like to keep it for a lifetime and not be penalized if an accident unfortunately happens? If you are shopping for travel insurance, wouldn’t you like to get a plan that meets your needs, with a fast and simple claims process, at a competitive price? If you are looking for DPI Insurance, wouldn’t you like to be able to purchase … [Read more...]

Lack of understanding on Medishield Life among Singaporeans

I came across the article by fellow blogger, Andrew Loh, on his recent medical bill. Andrew is a blogger whom I respected a lot because of his various quality articles in Yahoo Singapore website. Arising from his recent medical ordeal, I realized that there is a lack of understanding on Medishield Life among Singaporeans. In his article, Andrew was very clear on the mechanism of Medishield … [Read more...]

GMGH Insurance Review 2016


This post is partly inspired by the latest post by AK about a jobless guy stuck with $30k of annual insurance premiums, as a follow up to my first post in 2015 that was inspired by Derek, and also something related to what reader SH has emailed me about. In September 2015, my spreadsheet was sort of organized, but in a kind of haphazard sort of way. The information is there, but I thought I … [Read more...]

Jobless and still paying $30,000 a year for insurance.

Hi AK, I happen to come across your post and decide to email you for some advice. I am 41 and currently jobless as was retrenched. The only jobs available if I am willing to do is probably Security guard, Taxi driver etc. I am jobless for more than a year! Good news is I have about 200k my CPF OA and and 203k in my SA. If based on your compound theory and I leave the money till I reach 65 … [Read more...]

Meet Singapore’s newest digital insurer (car owners can now keep their 50% NCD for life!)


Singapore’s new digital insurer. I’ve never seen an insurance website like this before.   A new insurer has landed in town, and there are a few benefits they’re providing which I think are a real game-changer. Beyond the new digital buying experience, you might also want to take note that FWD Insurance is now offering car owners in Singapore protection of your 50% No Claims Discount … [Read more...]

Transactions for Sept ’16 + accidental lifehack


Continued my DCA into the STI index. Another 100 shares for the month. Using the transactions capture from SGXcafe. :) Incidentally, i chanced upon an accidental life hack from for a small amount of free cash flow. So i signed up for an insurance policy using the OCBC Cashflo card which breaks any purchases into monthly installments. And then because another policy came up which i … [Read more...]

Reader upset with insurance agent who is always too busy.

Hi AK I like to share my experience with NTUC Income recently. Some years ago I bought a Term Policy from them and it expired last month. I had been unemployed for some time, I decided that I should not take up a new policy to supersede the expire one. However I encountered some difficulty. They sent me repeated demand for payment. The way they put it is payment is due for my policy as if … [Read more...]

Interesting News: The Failure of Obamacare


Don't look at me, look at Bloomberg. The ACA is one of the worst government policies in the history of government policies. No one can say that they didn't see this coming. It was already doomed to fail from the very beginning. Truly affordable and quality healthcare in Singapore is really one of the things that I really enjoy about living in Singapore. In a few days time, my new … [Read more...]

Regret parting with CPF-OA savings 9 years ago.

Hi AK, I've been reading your blog recently and have been very inspired by the way you invest. I need to seek your advice for the Prudential units trust and SRS account I used my CPF-OA account to invest in the Prudential unit trusts 9 years ago whenmy insurance agent said that they will earn me more interest than the 2.5% interest CPF gave me. Fast forward 9 years now, my $80k … [Read more...]

How Much Cash is Needed for a Hospitalisation?

So my aged mother had a fall. She is statistically above average in age. It's a blessing that she has been largely well all these years. But it had to happen, sooner or later. Any fall at this advanced age is likely to have consequences. She has decided to forego an operation given her age. And she'd rather live with the pain and a slow recovery (if ever), rather than subject herself to the … [Read more...]

MINDEF & MHA Group Insurance

Many of us would have seen the news on the new subsidised insurance which MINDEF is providing to all personnel including regulars, NSF and NSmen. This also extends to your spouse and children. You can read the news here. The purpose of this post is to uncover the protection provided and the premiums payable. From what I see so far, the coverage we get and the premiums payable is so much lesser … [Read more...]

Do you want to be a financial consultant?


I overheard 2 undergraduates talking among themselves while queueing for food and it's quite an interesting topic that I, myself have pondered before. One of the guys asked his friend why he is not considering to be a financial consultant, aka insurance agent. He went on to illustrate that his friend got an AIA scholarship. 1 year before he graduates, he already has a job and can afford a BMW. … [Read more...]

MediShield Life versus Private Integrated Shield Plan

MediShield Life was rolled out in November 2015 to replace the MediShield. Unlike its predecessor, MediShield Life is a mandatory basic health care insurance designed to provide better coverage for Class B2 and C wards in public hospitals. There is also no need for Singaporeans to apply for MediShield Life. Given that MediShield Life provides enhanced coverage, it is important to review the merits … [Read more...]

My Insurance Policies


Too expensive. A waste of money. I don't need insurance. I don't know how much I'm covered. My parents bought insurance for me and handles it.  These are just some of what people say. I've had some friends who said that when the topic is broached. Insurance isn't easy to understand at all! So many policies, so many insurers. To be honest, I'll still choose to let my parents handle it all. … [Read more...]

Drivers, protect your 50% NCD…without having to top up your premiums


I met with a car accident last month. It was a wet day and I was driving along Braddell Road exiting towards Thomson Road. I noticed a stationary car along the filter lane so I slammed on the brakes. For whatever reasons, the brakes refused to oblige and I could feel my car sliding towards the car ahead. I remembered I swore, but it didn’t help. My life flashed before my … [Read more...]