Beware when a plan sounds too good to be true

Have you ever tried reading your insurance policy contract? How far did you actually go? Not very far, I guess. Consumers are not trained to read the fine print of an insurance policy contract. And it is also not their interest to do so as they rely almost entirely on the financial planner to highlight… Read More »

Do You Have ADEQUATE Critical Illness Coverage?

The Straits Times published an article “AIA survey uncovers 3 gaps in CI coverage here” on 22 August 2016.  I am not surprised at all by the survey findings. In my decade long financial planning practice, I have not met any client who has secured adequate critical illness coverage. Why? I call it the ‘insurance… Read More »

Which Retirement Income Plan Best Fits You?

An interesting article titled “Retiring Right … and picking a plan that fits you” was published in the Sunday Times Insight Section on 17 April 2016. It highlighted the concerns of a greying population and that understanding one’s needs in retirement is important prior to zooming in on suitable options. The article also shared some… Read More »

Why Switching Health Insurer May Not Be Such A Great Idea

Are you considering switching your current Integrated Shield Plan (IP) to another insurer’s? Or know of a friend or family member who is planning to do so? Please do them a favour and tell them to read this blog post before making that move. Let us look at some reasons why people switch to another… Read More »

Using Insurance to Supplement Retirement Funding Needs

I came across an article titled “Growing Your Wealth With Insurance” in the Business Times on 3 March 2016. This article is another timely reminder for us all to ensure that we have given due attention to retirement planning. The topic of retirement planning never goes ‘out of fashion’. Why? Because, at the end of the… Read More »

Bancassurance – a threat to IFAs?

Last Wednesday 8 April, The Straits Times reported that DBS has successfully sealed a $1,2 billion exclusive regional distribution deal with Manulife for a 15 year period starting 2016 when the current contract with Aviva expires. What is Bancassurance? “The bancassurance model – which involves selling insurance through banks as opposed to the traditional agency… Read More »

Singapore Savings Bonds – A Good Alternative to Fixed Deposits

The Singapore Savings Bonds (SSBs) will be launched in the second half of 2015. These are new government bonds sold only to individual retail investors. Features of SSBs: Issued once a month Interest (coupons) is paid every 6 months Principal guaranteed Maximum term of 10 years Minimum investment of $500 in a single lump sum,… Read More »

More Findings from compareFIRST

Have you tried using the compareFIRST web aggregator? I asked a few friends and clients to have go at it and their comments were not that positive.  They are executives and professionals who do not possess in depth knowledge of financial planning products. They gave up after short while and would rather speak to a… Read More »