Category Archives: Financial Planning Tips

Financial Planning Tips to enhance your wealth, knowledge, and peace of mind.

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 »

Downgrade to standard Integrated Shield Plan? Balance benefits and savings first.

With the launch of the standard Integrated Shield Plan (IP) plan come 1 May 2016, Singaporeans will have another affordable option for their healthcare needs. All the 6 health insurers – Aviva, AIA, AXA Life, Great Eastern, Prudential, NTUC Income – will offer this plan that provides coverage on top of Medishield Life (ML). The… Read More »

What Can Singapore Do to Improve the Financial Literacy of Its People?

Just thought of sharing with you that my ideas on a subject I am passionate about have been published in the Straits Times on May 7, 2015 on page 29. Here’s a copy of my write-up as it appeared in the newspaper. Your opinion is welcomed 🙂 I received positive responses from many clients and they wish that… 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 »

How do DPI products match up to what IFAs represent?

What is a DPI? It stands for Direct Purchase Insurance. It is a suite of standardised whole life and term life insurance products offered by 12 insurers in the market. Consumers can choose to get coverage for death, total and permanent disability and/or critical illness (optional).  Premiums of DPI products can be obtained via the… Read More »

A Lasting Power of Attorney Can Save Much Agony

Wealth distribution (estate planning) is an important component of comprehensive financial planning. The intentions of how one’s assets are to be distributed are captured in legal structures like Wills and trusts. In addition, I would advise clients to consider putting in place a Lasting Power of Attorney (LPA) and even an Advanced Medical Directive (AMD). What… Read More »

New Medisave Withdrawal Limits Will Mean Less Medisave for Integrated Shield Plan

Just when we have gotten more people interested to upgrade their Medishield or lower tier plans, the government announced that new Medisave withdrawal limits will apply for private integrated shield plans. Currently, the Medisave withdrawal limits for integrated shield plan are: $800 per policy, per year, for those aged 65 and below next birthday; $1,000… Read More »