That won’t happen to me!!

That won’t happen to me!!

By Kelvin Tan

That’s what all these people thought! And these are the facts…its no fairy tale, all the headlines that appeared in the papers recently.

Feb 21, 2007

Stabbed, he bleeds to death in Malaysia

Singaporean man, 39, left to die near in-laws' house; two have been arrested for the murder

DIVING ACCIDENT I

Woman in coma in Perth hospital

DIVING ACCIDENT II

Body of diver found on Pulau Hantu coral reef

Feb 20, 2007

Two fatal accidents in five months near condo - do something please

More than 100 accidents over New Year weekend

Traffic Police catch 352 motorists for speeding, 21 for drink driving

By Tanya Fong

Widow struggles to care for kids, mum-in-law

The list just goes on and on…..questions that you should be asking your self are:-

1. How is my family going to carry on?
2. Who’s going to pay for my children’s education?
3. How’s the housing bank loan going to be serviced?
4. How is my hospital bill going to be paid?

This is a true fact that many people do not consider life, medical, or mortgage insurance, for the simple fact…IT WON”T HAPPEN TO ME….!

But that is not the issue, the nagging point here, have you planned for the unexpected? Or are you gambling with you and your family’s future?

Is life insurance important in Singapore?

For those who did not have any insurance when disaster strikes, that might be too late! Newspaper articles reports regularly on widows plights, on struggling the widows having to make ends meets, loosing their family home due to unpaid loans, but life goes on; the hard way!

But those who had planned for the unexpected by purchasing insurance, their families are cared for, children education paid for, housing loans taken care off and they have a better chance of making it. Their legacy lives on in providing for their family, even after they are long gone.

What are the kinds of insurance protection are available in Singapore?

There are lots of insurance policies that protects against numerous risk, it’s highly recommended you speak to a reliable needs based adviser click here

A short summary of some basic policies are:

1. Basic life insurance policy that protects against death, accidents (temporary and permanent disability), and critical illness.
2. Accident insurance policies that protects against accidental death and disability (temporary and permanent disability).
3. Travel Insurance policies that provide emergency medical hospitalization and repatriation besides the standard travel curtailment etc.
4. Medical insurance policies that protects you in the event of any hospitalization or accidents that require any medical treatment.
5. Mortgage insurance policies protects by ensuring that in the event of the death, disability even critical illness of the home owner, the outstanding amount on his home loans will be settled.
6. Pay insurance that protect by ensuring a steady flow of pay in the event of disability and critical illness of the insured.

Don’t wait for the unexpected disaster to happen, take action now! call now!!

www.abundance2insure.com

What to look at when buying mortgage insurance

Feb 11, 2007

What to look at when buying mortgage insurance

Home owners should first decide the amount of mortgage cover and the premiums they can pay

By Fiona Chan

THE recent case of Madam Kok Pooi Leng, who lost her semi-detached house after her husband was killed last year, has thrown into the spotlight the importance of mortgage insurance.

Madam Kok's house was repossessed by the bank last year because she had not been able to make loan repayments on the outstanding mortgage on the property.

Mortgage insurance takes care of this by ensuring that in the event of the death or disability of the home owner, the outstanding amount on his home loan will be settled.

Click here to obtain more information on mortgage insurance

Woman sues Citibank over $844,000 forex investment losses

Feb 9, 2007

Woman sues Citibank over $844,000 forex investment losses

Indonesian housewife claims she was given negligent investment advice

By K. C. Vijayan

STUNG by about US$551,000 (S$844,000) in losses, an Indonesian housewife is taking Citibank to court, blaming negligent investment advice from the United States banking giant.

But Citibank counters that Madam Catherine Wenas was already experienced in foreign currency investments by the time she opened the foreign currency trading accounts at the centre of the dispute in August 1999.

According to documents filed in court, she claims to have told the bank's representative at a meeting in Jakarta then that the funds were meant for her daily use, to support the education of her two children and to build the deposit.

It’s all about risk! Such a shame, just imagine if she had invested in slightly safer instruments like Cash Saver savings plan this would be her projected returns.

Single investment of $844,000 the projected returns would be $ 973,681 over 5 years, Projected Investment Rate of Return upon maturity is 2.90% p.a. (after deductions). This gives about $25K yearly returns, definitely not a lavish lifestyle, but good enough to feed herself and her two children.

Also placing so much cash on a single instrument is not wise. Diversification, prudent planning and good risk management is the way to protect and manage your assets.

Learning from mistakes is a costly affair and definitely not the way to go! Contact your reliable needs planner today!

AIA, Income to review pre-existing condition clause

Feb 8, 2007

AIA, Income to review pre-existing condition clause

This is part of efforts to make key medical clause clearer to policyholders

By Lorna Tan, Finance Correspondent

ONGOING REVIEWS: Insurers AIA and Income say they are relooking the clause on pre-existing medical conditions, as part of ongoing reviews of contract terms.

TWO leading insurers are reviewing a vital clause in their Shield hospitalisation plans in a bid to make them clearer to policyholders.

AIA and NTUC Income said they are taking a fresh look at the clause dealing with pre-existing medical conditions.

This type of clause - put in all medical policies - spells out the circumstances in which an insurer may refuse to make a payout on the grounds that an insured person is deemed to have had a medical problem before the insurance cover became effective.

A way round this pre-existing condition is to get a medical policy at the earliest stage and keep it. This would ensure your state of health will be good at the point of inception.

Have your financial health check now! Click here to contact your friendly no obligation needs based adviser.

What will be reviewed?

Your current state of protection, aligned with your financial goals.

Sleep better knowing your protection needs are met.

Fixed Deposit using CPF OA is a waste of time!

Fixed Deposit using CPF OA is a waste of time!

By Kelvin Tan

CPF pays out 2.5% pa for the ordinary account. Putting CPF OA into a fixed deposit that draws 2.8% does not make any sense at all. Out of this exercise, earning 0.3% is not worth the transfer fees and bank charges. Bearing in mind the next GST rate hike is going to be 7% up a solid 2%! Going for a mere 0.3% is a joke.

Feb 7, 2007 STI

CPF fixed deposit paid less than OA on maturity

I MAINTAIN my CPF investment account with one of the local banks. Ten to 11 months ago, in a printed one- liner at the bottom of the monthly statement, the bank invited account holders to place their CPF funds in fixed deposit for six or nine months at a 'promotional' rate of 3 per cent per annum.

As this was more than the CPF Ordinary Account (OA) interest rate of 2.5 per cent, I went down to the branch and opened a nine-month FD, with instructions to roll over the sum upon maturity.

On Jan 29, I received a renewal statement from the bank, advising me that my CPF FD had been renewed for a further nine months at the rate of 1.8 per cent.

Even the CPF monies kept in the special account which draws 4% interest won’t be able to match the GST rates the Government is intending to impose. In order to better perform the inflation rates, is to make your money work harder for you! Of course nothing comes without risk. It is how you manage that risk which brings in the big bucks.

You should ask yourself, “Are my investments making me money?” “Is it above water?” “What is the rate of returns?” If those questions are in the negative, you should seriously consider talking to a reliable need based financial planner, who can advice you on how to maximise your returns.

Are your investments making money?

Feb 3, 2007

TAKING STOCK

STI breaks 3,200 mark with few signs of bull run ending

Pre-Budget hopes, strong economy and firmer property market fuel gains

By Goh Eng Yeow, Markets Correspondent

A POTENT mix of New Year fever and pre-Budget expectations propelled the share market on to a dizzying bull run yesterday that ended with another record high close.

The Straits Times Index (STI) rocketed 49.58 points to 3,217.68, bringing the gains over the past two days to an eye-popping 92.12 points, or 2.95 per cent.

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Are your investments making money? Contact Us for your need based advice!

'Pre-existing condition' strikes out cancer patient's insurance claim

Jan 31, 2007

Aviva panel says tumour started growing before policy took effect

'Pre-existing condition' strikes out cancer patient's insurance claim

Plan excludes coverage, but some rival firms say they would have paid

By Lorna Tan, Finance Correspondent

A 45-YEAR-OLD woman diagnosed with breast cancer thought her medical bill was covered by her insurance policy, but a rude shock awaited her.

Backed by medical reports, her insurer Aviva said that the 9cm lump found in her breast had begun growing before her policy took effect.

It refused to pay, saying her cancer was a pre-existing condition at the time that she signed up for her MyShield hospitalisation policy - never mind that she had no idea at the time.

Fortunately for Ms Simone Vaz, her company has paid for the bulk of her medical bills. She also managed to receive payouts from two critical illness policies, one of which she had signed up for at the same time as her MyShield plan.

Still, her case has turned the spotlight on an often-overlooked but vital issue in medical insurance - the definition of a pre-existing condition.

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Many people don’t see the need for medical protection until it’s too late! Don’t let that happen to you! Most often, people feel adequately covered by their company’s medical benefits. This is dangerous as it cuts both ways; Firstly, yes the company benefits will pay, but for how long? Second they will be un-insurable once they have a medical issue. What happens if they leave their current employment? Get protection now!

No. 1 killer of women? Most here don't know

Feb 2, 2007

No. 1 killer of women? Most here don't know

Majority can't name risk factors of heart diseases and stroke, survey on women finds

By Judith Tan

THE majority of women in Singapore are not aware of what the top cause of death is among women here.

They are not even able to name the important risk factors of women's No. 1 killer, heart diseases and stroke.

These were some of the findings of a recent telephone survey conducted among some 1,000 women aged 35 to 49 here.

The study was conducted randomly between June and August last year by the Singapore Heart Foundation.

While almost one in three of the women surveyed thought there was nothing they could do to prevent a heart attack, two in five thought they were at low risk of an attack for women their age.

It also found that the majority of the respondents were not even aware that men and women have different symptoms of a heart attack or that women's risk of heart disease increases after menopause.

Two in three deemed that chest pain is a warning sign associated with heart attack, while one in three from the 50 to 64 age group thought they were at low risk of heart attack for women their age.

More than half did not know that women are more likely to get heart disease after menopause.

Principal researcher Lew Yii Jen said that from the survey, a lower percentage of women consider heart disease and stroke as important health issues facing them, compared to cancer.

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There are specific medical policies that protect women from women related diseases. Click here to contact us!

Fire burns family flat

DRAMATIC RESCUE: SCDF officers investigating outside the burnt flat as relieved family members wait downstairs. -- SHAHRIYA YAHAYA

A SEVEN-YEAR-OLD boy - mistakenly left behind in a burning flat by his panicked family - was saved in a dramatic rescue carried out by firefighters yesterday.

Muhamed Arrifin's relatives realised he was still in the Yishun flat only when they saw him waving from the bedroom window of the third-floor executive apartment.

The boy's aunt, Madam Halimah Manap, related the chain of events to The Straits Times.

At around 6.40pm, she was having a bath when she heard shouts from within the flat.

She rushed out to see her father and brother trying desperately to fight flames from a storeroom - where several old newspapers were kept - near the kitchen.

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Accidents do happen! Ensure your homes are protected! Don't loose sleep trying to save less than a hundred dollars over ten of thousands when your homes are gutted by fire! Contact Us for more info. Fire insurance will provide protection for your fixtures, renovations and contents. Additional benefits like Personal Liability protects you should the fire spread to your neighbors’ home.

The mystery of sudden deaths

The mystery of sudden deaths

By Eng Chee Koon - Jan 17, 2007

AsiaOne

First, the good news. Doctors say the 10 cases of sudden deaths reported in the last four months are not abnormally high. So, there is no need to be unduly alarmed.

And the bad news? Researchers are no closer to unravelling the mystery of sudden deaths.

While the frequency of the recent sudden deaths has been a worrying trend, experts say this is just a coincidence and it does not signal a looming epidemic.

Professor Edmund Lee from the National University of Singapore's (NUS) Department of Pharmacology told AsiaOne: "There is no epidemic. And it is important to have a perspective of this matter."

In the last fortnight, there were three such deaths - that of NUS don Ananda Rajah who died on Jan 9, 30-year-old Singaporean William Loo last Sunday, and a 29-year-old Malay deliveryman who was found dead in bed on Monday morning.

According to Prof Lee, the number of sudden deaths reported by the Health Sciences Authority (HSA) every year averages about 300 cases. This figure includes both men and women aged between 18 and 60 years old.

Still, it is disturbing to read of otherwise healthy individuals who simply die with no apparent cause. Statistically, this is within expected norms. To many members of the public though, it is scary to know that death can strike one suddenly, like playing a game of Russian roulette.

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What would happen to the surviving families now? How would they get their income since the breadwinner is gone? Don’t wait for disaster to strike, get adequate protection now! Provide your family with continual income! Contact Us now!

How to get a $1 million dollar medical insurance policy using no Cash!

How to get a $1 million dollar medical insurance policy using no Cash!

By Kelvin Tan

You must be telling yourself this must be another Internet scam. Well this time you are wrong! If you are a Singaporean with CPF savings and Medisave you can qualify for this medical plan.

Medical plans in Singapore have fairly stringent health underwriting. In order to qualify for this medical plan you need to be close to perfect health before the insurance company will insure you. That being the case, you should select a good insurer and stick with them, before your health deteriorates through the years.

The current basic CPF Medishield plan which covers majority of Singaporeans provides only partial coverage and the patient is left with a hefty bill to pay. Majority of Singaporeans are still in the dark about MediSave or MediShield and assume that the standard plans will protect them from these huge bills.

This may be a shock but until recently, Medishield was catered to handle catastrophic illness only, and even then the majority of the bill is still left to the patient to pay which can amount up to more than 60% of the entire bill.

In the recent forum page, a lady wrote in to complaint why CPF only paid 3% of the $50,000 hospital bill for her mother’s hospitalization.

Nov 28, 2006 Straits Times Interactive Forum

MediShield paid $1,438 of $50,000 hospital bill

This came as a rude shock to her! CPF payout was calculated based on subsidized hospitalization. As a result she could not claim the full sum of $50,000 even though there may be more than $50,000 in her account.

MediSave should be used to buy hospital & surgical insurance policies and not to pay hospital bills! For the simple fact that Medisave yearly withdrawal limits are too low to pay for any hospital bills, furthermore this monies are supposed to last the person’s entire life. If you are struck with a catastrophic illness this would have wiped out your Medisave account with one go! Therefore these limits were imposed to reduce the amount MediSave could be used a year.

That is why it makes sense to actually invest in a good hospital and surgical insurance plan that will provide cover for you, for as much as possible and low premiums that only cost a few hundred dollars a year, compared to the thousands or hundreds of thousands it may cost you when you are hospitalized.

Recent years have seen the emergence of many improved medical shield plans, with “as charge” coverage. This will cover to about roughly 80% of medical health costs when warded in government restructured hospitals. Depending on the kind of wards you prefer. The premiums can be paid using the MediSave account, thus no cash is needed!

Example

For a male, aged 43 premiums are at SGD $221 with a yearly limit of $150,000 (B Plus plan, for Class B Wards and below). Just imagine if you were struck with a hospital bill of $10,000. CPF may only reimburse up to $3,000 per year (simplified for illustration purpose only). The other $7,000 will have to be paid by you. If you were to have a medical policy, this is how it works the MediShield insurance cost $221 / year will cover up to 80% of the bill or $8000. You have to pay the co-insurance and deductible (estimated) $2000 from your own pocket. You can cover this co-insurance and deductible with another cash medical plan.

Get protected now before it’s too late!

For more details on how to get your $1 million dollar medical Insurance policy using no cash contact us at www.Abundance2Insure.com