Seminar on Eldershield

By: Wilfred Ling Promiseland is organizing a talk on Eldershield program. This is a national insurance program which everyone who turned age 40 are automatically enrolled unless otherwise opted-out. For those who are turning 40 or is already enrolled are invited to join us to listen to what this national program is all about. Moreover, there are enhancements to Eldershield offered by Great … [Read more...]

Hospital Delays Likely During Exam Period

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 will examine and diagnose real patients with real … [Read more...]

The Best Retirement Investment Portfolio Ever!

By: Wilfred Ling What are the various instruments available for the retiree? How should they make their money work hard for them? How can they get a perpetual income other than traditional annuity? I had been asked to provide the answers frequently but the number of products suitable for the retiree is limited. Through much research, we introduce an innovative investment portfolio for the … [Read more...]

Expertise in claim settlement

By: Tan Kin Lian Insurance performs two important functions: a) Pay for cost of claims b) Handle the settlement of the claims The insurance company should have expertise on the following: a) The best source for treating a sickness b) Quality and cost effectiveness in handling a repair c) Determining the party who is liable for the accident A lay person will find it difficult to … [Read more...]

A tale of 2 annuities

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 the elderly in their retirement. As retirees, my wife and i have been happy to … [Read more...]

Guest Post by Sgmusicwhiz: His thoughts on financial freedom

It's great to see our local bloggers uniting to promote financial freedom and knowledge. By: PanzerGrenadier As part of making my blog more interactive and to invite views from other bloggers passionate about financial freedom, I have asked musicwhiz, an online blogger who follows my blog (as I do his), to do a guest post by featuring his comments into a post in today's entry. He shares … [Read more...]

Health and Wealth

By: Derek Lim If not for the Adrian's comments, I would have miss out his blog - Health and Wealth and also the chance to share his views with my readers. Here are his latest views on retirement. By: Adrian Khiat Can we really retire comfortably? (1) Let me first analyse this Retirement Issue from the CPF perspective in this posting. Many Singaporeans thought that they can depend on … [Read more...]

What can we do in this low interest rate environment in Singapore?

By: PanzerGrenadier Interest rates are low hovering around 1.5% or less for shorter tenures as can be seen here in my previous post on Singapore banks and fixed deposits interest rates for the last 2 years. There is nothing much we can do...unless In reality, for most savers, there is very little you can do if you are not willing to accept more risk for the possibility of greater returns. … [Read more...]

CPF Life

There has been a lot of discussion about CPF Life. On paper, it seems like an excellent scheme - pay you a sum of money for life. However, there are still many concerns e.g. what about those who does not have sufficient amount in their CPF, how much monthly payout to opt for, how much is the premiums etc. We can only wait for the government to release the exact details. However, one common … [Read more...]

Surviving Low Domestic Interbank Rates in Singapore

By: PanzerGrenadier Time deposit rates have moved downwards along with Domestic Interbank rates Interest rates for savings and fixed deposits (time deposits) have reduced sharply since Oct 2007 as can be seen in the Monetary Authority of Singapore data on domestic interbank rates since Jan 2007 to Jan 2008. It has moved downwards from the dizzying heights of 3% sometime in Feb 2007 and … [Read more...]

Vivolife – Market Comparison

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, this will exclude … [Read more...]

Singapore Fixed Deposits Blog is born!

It is encouraging to know that more local bloggers have decided to share their Financial knowledge in spite of the current weak market sentiments. I hope this trend can and will continue. By: PanzerGrenadier I have decided to enlist the help of a forummer I met on one of the forums who has a keen interest and is well versed about fixed deposits interest rates. With his help, I am launching … [Read more...]

How to create a budget plan in 10 easy steps

By: Drizzt Before you can think about investing or buying insurance, you need to think about funding for these 2 items in the long run. Lets just say that buying a whole life policy is not a 1 year 2 year affair. You will be paying for almost 20 years to probably when you are 65 years old (And it can get even longer then that!) To grasp you can commit long term cash to such items, you will … [Read more...]

The Oprah Show

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 latest piece, sicko which is an investigation of the American health care … [Read more...]

Means Testing

By: Tan Kin Lian Mr. Tan, What are your views about means-testing? REPLY It is a lot of work, all lot of uncertainty, for quite negligble savings. The Minister for Health said that the subsidy will be reduced from 80% to 65%. The savings to the government is only 15%. Most people who uses the C wards are likely to be the older and poorer people. Those who are affluent are most … [Read more...]

How do we invest for financial freedom?

By: PanzerGrenadier The straw poll that I did yesterday elicited 8 votes and it appears that the majority (63%) felt that "Don't know how to invest" is their toughest challenge in attaining financial freedom. While this poll is not statistically representative since the sample size doesn't even hit 30 for central limit theorem to kick in, it tells me what you would like to know more in our … [Read more...]

Charges under a investment linked policy

By: Tan Kin Lian Dear Mr. Tan, I am confused about the many charges under an investment-linked policy. The insurance agent does not explain them clearly to me. I am now stuck with these high charges. Can I get out of them? REPLY It is better to buy a low cost Term insurance, to provide the life insurance protection. You should invest in a unit trust or an investment fund with low … [Read more...]

Medisave, Medishield… Medi-crisis?

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 … [Read more...]

2008 Commentary

By: Wilfred Ling The Year 2008 has started. For every start of the year marks new beginnings. Those who had done well in Year 2007 (i.e. achieving whatever what they wanted to achieve) ought to congratulate themselves but it is also important to set out to new goals. On the other hand, those who did not do well in Year 2007 should not be discouraged. The Year 2008 has been given to you to try … [Read more...]