Switching of PMI ( IncomeShield, PruShield, SupremeHealthshield, My Shield, HealthShield, etc )

Every now and then, many policyholders will switch their PMI ( IncomeShield, Prushield, Healthshield, SupremeHealthshield ) from one insurer to the other.

For easy reference, there is a comparison of plans between all insurers at Ministry of Health website at http://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=11222

You can download the pdf file that will show you the comparison of benefits between insurers, though it was updated in February 2009, it should be updated next year. But this can be a reference as most insurer would have made some minor improvements over the time.

At any one time, only one "Shield Plan" is allowed, thus cancelling each other out during a switch.
My advice is -
1. Choose an appropriate plan
2. Look at options for downgrade at latter part of life ( FROM SAME INSURER)
3. PLEASE DO NOT SWITCH WHEN ONE HAS EXISTING CONDITION, BY SWITCHING WITHOUT DECLARING, IT FALLS UNDER NON DISCLOSURE, AND CAN RESULT IN DISPUTE IN CLAIMS.

My personal comment is, when a plan is switched to the other company, it is counted as new business and add on to the company's overall total, in the insurers' quest for positioning, if insurers are fighting for positioning in the industry. So you find that some will suddenly do a promotion campaign for the plan. Sorry that I am mentioning this including Income but you will see that NTUC Income promotes the IncomeShield whole year round as we believe that this plan is the basic needs of everyone. Of course the other more more valid reason is that there need to be a good base to sustain the plan.

My personal conviction is PMI ( Private Medical Insurance or Shield Plans ) are basic needs for all, and all should have at least a Shield Plan, as I have always shared. Whichever Shield Plan you have, just ensure you know the benefits and are comfortable with it. DO NOT SWITCH ONCE THERE IS EXISTING CONDITION LIKE HYPERTENSION OR DIABETES ALREADY SET IN. AND PLEASE DECLARE ALL HEALTH CONDITIONS IF YOU WANT TO SWITCH.

SRS - Tax saving

Time to consider contributing to SRS.

My exchange in CPF Board Facebook on DPS definition of Permanent Incapacity against PTD or TPD

Thomas Phua
Will CPF Board look at DPS Permanent Incapacity clause?Life insurance plan covers on PTD or TPD, total permanent disability. When insured lost the use of two limbs and on wheel chair, will be considered as PTD. Same condition, claim will not be paid as DPS's definition is Permament Incapacity, meaning one must not be able to continue to earn a living. Wheel chair bound insured, is not deemed as Permanent Incapacitated. This is really not fair to those insured on DPS. Should not DPS follow PTD term and condition for disability?
October 22 at 2:51pm

IM$avvy
Hi Thomas, thanks for the feedback. We will feedback to the relevant dept on this. Have a great weekend :)
October 24 at 7:57pm · Report

IM$avvy
Hi Thomas, thank you for your feedback.Members who are covered under DPS and subsequently become physically or mentally incapacitated from ever continuing in any employment may apply for claim benefits under DPS. A member who is physically/mentally inacapacitated should not have the ability to work in any form of employment. Members who are still able to perform some form of work but have difficulty in finding employment are not eligible to claim under the scheme. A person whose medical condition(s) has caused him to be wheelchair-bound, would be certified as being incapacitated as long as his conditions prevent him from ever continuing in any employment.
October 27 at 4:25pm · Report

Thomas Phua
This is the point, thank you for clarifying, I assisted in a case of wheel chair bound person, it is PTD or TPD as according to insurers' term and condition and claim was easily admitted. The same condition was rejected as DPS term it as not Permanent Incapacitated. A wheel chair bound person, is still deemed to be employable, selling tissue papers, or become a tele-marketeer because his hands and upper body is still functioning well. This is why I think it is not right that DPS defines PI as such and very different from PTD or TPD.
October 29 at 10:53am · Delete · Report

Thomas Phua
Statement from insurer is "we find reason to pay claims" Not to dispute claim on technicality. Poor chap already lost the use of two limbs and we still want to fault him on employability, this is heartless. It took first claim in 1995 to be rejected, and this year, 2009 it was rejected again, but we managed to find reasons enough to appeal and find reason to pay the claim after the policyholder retired from employment, still on wheel chair. He was on wheel chair for more than 10 years and finally paid, after overcoming the technicality of PI condition. I do not know how many cases have been rejected because of employability clause of PI. But is cruel.
October 29 at 11:07am · Delete · Report

IM$avvy
Hi Thomas, thank you for taking your time to provide us your feedback. We would like to invite the DPS member you mentioned to contact us directly at 6229-3312 if he has any further queries regarding his claim, we would be happy to clarify the details with him directly.
November 2 at 4:55pm · Report

Thomas Phua
Is okie, I managed to overcome the tough terms and managed to get the doctor for second opinion to prove him Permanent Incapacitated and claims paid after the initial rejection.My point is why DPS defines disability with PI instead of follow industry standard of PTD or TPD. DPS is a kind of term plan, and should follow PTD or TPD as in term plan condition. Afterall, DPS premium is not any cheaper than term plan today.
Wed at 5:45pm · Delete · Report

Thomas Phua
CPF Board should review the terms and conditions of DPS's Permanent Incapacity to follow what it is with commercial insurer's TPD or PTD definition. If the plan is to help the public, it should not be more stringent than any of the commercial insurer. This is not fair to the public who probably are not aware of this.
Wed at 5:47pm · Delete · Report

Handy man's store Patrick Hardward

Patrick Hardware

Blk 302, #01-25, Ubi Avenue 1

I have a friend who operates a hardware shop in Ubi, if you are a handy man, this place really have huge variety of things from simple switches, tools, safety shoes, idustrial equipement, electrical and mechanical stuff.

I bought a light weight aluminium trolley and some taps and switches to change from there before.

My toilet sink is saging and I suspect the support is giving way, and true enough it was corroded, and I managed to get a set of angle support with wall plug from this shop today.

If you are a handy man, staying near Ubi, you can visit this shop. The owner of course is call Patrick.

If you are a more advance handy man, the shop has micro-switches and even o rings of various sizes. Whatever a handy man needs he probably has.

This is a good place to go, if you are a handy man.

A successful Permanent Incapacity claim for DPS

(Have been receiving appreciative client's invitations to meals and even getting moon cakes for several claims lately. Wonder what will happen to me, if ever there is a claim disputed, I HOPE it will not happen. So far has been so good.)

Compliments to Mr Chew Kia Wong and Mr Thomas Phua

To: CEO

NTUC INCOME

Dear Mr Tan,

It is with much pleasure that I'm sending this email.

My experience with the recent claims that I made on my DPS and Eldershield insurance policies have been delightful for me because of two of your staff members, namely Mr Chew Kia Wong and Mr Thomas Phua.

It is not because I have been successful in my claims that I'm writing to you. You see, Mr Chew has truly been very professional in his dealings with me. Yet he has shown competence coupled with compassion. When he and his staff spotted some technical inconsistencies in the documents which I submitted to support my claims, he did not take the stance of coldly rejecting my claim outright. Instead, he gave me reasonable and valuable advice on how to mitigate the problems and thus make good the claims.

He has indeed displayed the sterling quality of an empathetic gentleman who understands the predicament of a genuine claimant.

I must also add that my agent for many years now, Mr Thomas Phua, has given me immense support by championing my claims. He has been both an agent par excellence as well as a good friend to me.In my humble opinion, both Mr Chew and Mr Phua are indeed valuable assets to NTUC INCOME and are great examples of how service should be rendered to your customers and policy holders. I should mention that the other staff members I have dealt with have also been very efficient and responsive. You should be justly proud of them all!

With best regards,

DPS - Dependent Protection Scheme

Will CPF Board look at DPS Permanent Incapacity clause?

Life insurance plan covers on PTD or TPD, total permanent disability. When insured lost the use of two limbs and on wheel chair, will be considered as PTD.

Same condition, claim will not be paid... as DPS's definition is Permament Incapacity, meaning one must not be able to continue to earn a living. Wheel chair bound insured, is not deemed as Permanent Incapacitated.

This is really not fair to those of us insured on DPS. Should not DPS follow PTD term and condition for disability?

I have posted CPF Board this question. Will they give an answer on this?

Growth Plan - 5 to 10 years single premium Endowment Plan

Growth Plan continue to deliver good values.

I have a policyholder with her 5 and 10 years Growth Plan maturing this December 2009 and yield is 3.136% and 4.576% respectively.

NTUC INCOME Growth Plan gives good return.

Below are examples of two of my clients's policy maturity yields.

Click on Growth Plan and you will be linked to our website for the information.

10 year Growth Plan ( I just wrote this email to policyholder )
How are you, like to inform you that your Growth Policy will mature in December with $93,861.57.

This was a $60,000 placed with us and the Yield is @ 4.576%
If you are keen to re-invest into another Growth Plan, you may want to contact me.
Policyholder: XXXXXXXX
Contact Nos : XXXXXXXX
Policyno Plan MaturityDate MaturityAmt
006885XXXX GRL1 27-12-2009 $93,861.57

5 year Growth Plan
Your mum's 5 year Growth Policy with $30,000 placed is maturing this December and it has good yield.

Maturity yield at $35,009.78 which is @ 3.136%

Policyholder: XXXXXX
Contact Nos : XXXXXXXX
Policyno Plan MaturityDate MaturityAmt
100075XXXX GRL2 18-12-2009 $35,009.78

(Click on the image below to check on the historical yield)

Ya Kun @ Orchard Central

If you are in Orchard area and wants a cup of nice coffee or toast, you can head for Orchard Central level 5, there is a Ya Kun outlet there. I am quite surprised that you get such nice coffee and yet the pricing is same as in any other outlet.

Surprisingly, Ya Kun is also in Takashimaya basement 2 and Far East Plaza. Just realise this from their website.

What is the cost of IncomeShield for a child?

You can click on this IncomeShield to go to NTUC Income website.

Click on Enhanced IncomeShield Premium to get the rates.

Premium for Enhanced IncomeShield Plan Basic for child is $70 per year, from parent's medisave account.

Can you see a mere premium of $70 covered the bone marrow transplant bill up to $18,000+ and other bills involving other treatment and stay during the ordeal.

Nobody wish such to happen, but when things happen, there is peace of mind to concentrate on treatment with less financial worries.

Aplastic Anaemia - Bone Marrow transplant B2 Bill at KKH

This is a B2 ward bone marrow transplant bill for a 3 year old done at KK Hospital, for a 45 days stay.

If you click on the bill image, you can see the detail.

B2 rate is much subsidised by the government, if it is B1 or A ward, the bill can be about much higher.

This plan is an Enhanced IncomeShield Plan Basic plan.

Deductible is taken as $1500 and there is an earlier claim to make up the deductible, as deductible is cumulative within policy year.

The policyholder pays a 10% co-insurance as there is no Rider bought, and IncomeShield pays $18,470.68 for this bone marrow transplant claim.

PMI coves more adequately than Basic Medishield for chronic and catastrophic illness.

Thank God, this boy responded to the bone marrow transplant from the sister and has recovered well.

Does Children need insurance?

I am thinking of how to write about how a child should be insured as some ask if a child need life insurance.

I have been wanting to write about this and trying to be sensitive about it.

It is more to help parents to understand the importance of Incomeshield and some insurance planning for children and at the same time trying to be sensitive over this issue.

My view is that some form of insurance planning is advisable for the child as our parental responsibility and if they grow to adulthood, then the plan will meet their needs as parents for their family too.

Incomeshield is the primary important plan and the other plan is Vivolife other than just planning for Education Plan.

Newspaper articles are so common. I know it is rather sensitive issue for some to discuss about this.

Is Basic Medishield sufficent ?

Minimum one should have is a Basic Medishield and if one needs better medical care, upgrade to Private Shield Plans. My personal experience is Medishield is not sufficient if one needs kidney dialysis. I hope those who write and advocate that Medishield is enough will not continue to write from his own point of view in bitterness, as this will make those who followed his advice to face financial strain in time of need. One should understand their own needs and standard of medical care they need, to decide if Medishield or upgrade to private Shield plan is good for them rather than continue to condemn the private Shield Plan.

How CPF Life works.

(Click on the How CPF Life works or the picture on the right, and at the website click the pic to get to the info)

Member who opt in CFP Life will get the L Bonus, there is no free lunch, give you first, then collect from the yield of the "premium" in the future and put in the pool.

Normal annuity do not have such penalty and the whole premium grow with the principal sum, and refund with draw down accordingly.

Will the annuity payment will better or as good as insurer's annuity.

Below are two passage from the attach booklet I extract from their website.

(From CPF Life Guide Book, page 9)

Yes. Interest earned on the RA savings will continue to be paid into the RA. Interest earned on the annuity premium will be paid into the Lifelong Income Fund and pooled with the interest earned from the annuity premiums paid by the rest of the CPF LIFE participants to provide the life long payout under the scheme.

(Look like depending on which plan, the premium interest will be "penalised" and thrown (contributed) into the Lifelong Income Fund. Premium interest are being contributed by everyone into the pool. As plan will be compulsory for those age 55 by 2013, there is no choice to opt out if one finds a better annuity plan else where)

(from CPF Life Guide - Page 8)

There are 3 LIFE plans which provide a refund of the unusedannuity premium 9 on death, namely the LIFE Basic, LIFE Balanced and LIFE Plus Plans. Under any of these plans, the full premium will be refunded if you pass away before any payout has been made from your annuity. If you pass away after the monthly annuity ... payout has started, the unused premium will be refunded. Any refund will be made to your CPF account and paid to your beneficiaries.

(so look like from page 9, members will contribute the yield of the Annuity premium to the pool once a member join in the CPF Life, refund premium will be fixed without yield?)

Based on the CPF Life book, if the premium for Plan Basic Plus, the default plan, there is a 30% of RA to be set aside as premium.

At $120,000 in RA, $36,000 will be set aside as premium and DDA draw down from 65 to 80 and life long premium kicks in.

$36,000 set aside at age 55 @2% = $59,061 at age 80

$36,000 set aside at age 55 @4% = $95,970 at age 80

The amount of yield set aside to contribute to the pool seems a tidy sum.

NTUC INCOME rebrand but remain social in purpose

NTUC INCOME is undergoing rebranding to serve the customer better, meeting the aspiration of the next generation, maintaining her social purpose.

Singaporean grossly under insured

If you click on the title, you will be linked to the article.

Today there is an article in the Straits Times, reporting a finding by an NTU Associate Professor that Singaporeans are Grossly underinsured.

This is a timely reminder and infact should be a constant reminder.

How well are we covered in terms of Medical, Protection & Health insurance coverage? We plan not to benefit from it, but just in case a need arises and one is not stressed out.

I am not trying to capitalise on the situation to remind you, but it has always been my motto "plan to meet your needs and not wants".

I have written several topics on Shield Plan, proper protection planning (especially on a claim case in 2005) and timeline planning for retirement and savings needs.

Perhaps it is time to review again and reflect again.

A quick calculation, if our family depend on us for $30,000 a year and our kid is young, example age 1, we need to see them to independence at age 21. If unforseen circumstances happen, we need to plan for next 20 years = 20 X $30,000 = $600,000.

Insurance premiums for $600,000 is not as high as one imagine, as proper planning with comfortable budget is possible. Talk to your trusted financial planner.

-------------------------------------------------------------------------------------------------
This is not new, infact is everyday problem.

I am thankful I covered my mum for Incomeshield and every month her dialysis is $2700 and we claim $2100 to $2400, if not it will be very serious financial burden.

My widowed client came to our agent event last month, invited to speak to us on how she benefitted in 2005 when her husband passed away leaving behind a 3 and 5 year old daughters, and the whole meeting broke down, because we are reminded once again of our role to plan for the needs of our clients. I admired her spirit and courage to come because she did it with hope that her testimony can benefit others. I had a DVD of her speech, but could not upload it as file size is too big.

Planning needs common understanding.

I am always prepared to listen and discuss if any one wish to see me for review.

Some time I think some clients are overly suspicious of agent's intent.

Yes, we need to earn commission, but it has always been mission before commission for me.

If you have big gap and big needs, I earn big commission.

But those who cannot afford, is commission a bother to me? I would be at peace if I can meet their needs in planning, even if I do not make much out of the commission.

Most of all, I like my client to treat me as a friend.

100,000 women lack Medishield

Sunday Times headline, "100,000 women lack Medishield" and I believe many more children also are not insured.

Shield Plans are basic needs for everyone, as I have always been advocating.

I hope with this article, more can be more aware of the need to consider the Shield Plan.

One Shield Plan

Few weeks back,Stanley Jeremiah wrote in the Straits Times forum that insurers should act responsibly in the interest of policyholders for medical plan.

With so much competition for the Shield Plan after CPF Board divest it out of their care since 1994, I wonder should CPF Board appoint ONE insurer to manage it as national health plan than to open it to competition eroding the values of the plan and cost of managing it.

Since 1994, the plan has evolved to what it is today through competitions which is good, but if it is being fought on further, cost of the plan may be high.

My wish is that one day, there is one worthy insurer to operate this Shield Plan as a national health plan concentrating on meeting the needs of the people.

Competition over this plan also confused and delayed some who did not take up Shield Plan until too late.

Perhaps make it compulsory as a opt out plan. I rather that people have Shield Plan than Eldershield as a priority.

Ten Financial Tips for Everyone

Ten Financial Tips for Everyone - Tan Suee Chieh

1. Be a super saver, not a super spender. Savings should come first before spending, and it should take first claim on your income. Saving what is left after spending does not work. Saving should rank as high as staple needs like rental, food, and other commitments and certainly above luxuries such as holidays, and entertainment. If you are unable to do this, you have to adjust your lifestyle. Acquire assets and not liabilities. Credit cards, cars, and club memberships are all liabilities.


2. Start early. Start saving early, but it is never too late to start. My grand dad used to tell me that it is what you save and not what you earn that will make you financially secure. Everyone must save at least 10% of their income, preferably 20% to 30% of your income.

3. Basics first. First plan for emergencies, illness, disablement and death. It is important to have term and health insurance. Purchase your insurance when you are young because it is much cheaper. NTUC members should get NTUC Income’s LUV plan – which is a low cost insurance coverage for the entire family. Our Incomeshield is an excellent health insurance plan that covers hospital bills. i-Term is the best and lowest cost term insurance plan in the market today. Do not hesitate nor delay in getting these basics. If you do, it is like going on a long car journey to a remote area without sufficient gasoline or spare tires. It is simply asking for trouble.

4. Education and retirement are important building blocks. Always plan for your children’s education and your own retirement. This is best done by saving regularly (monthly) for long periods. The best plans for these are life insurance, investment linked plans and unit trusts. Consult a financial advisor or someone you trust for advice on this. Be committed to finish a plan once you have started on it.

5. Do not be greedy or let your emotions rule. Do not be tempted by high returns as high returns always mean more variability in returns (risks), and sometimes no return. You must also understand your own tolerance of risk. Do not be swayed by emotions when making financial decisions as they cause you to make the wrong turns. Remember, there is no such thing as a free lunch. In any event, a good rule is never test the depth of water with both feet, i.e. do not risk everything you have in one go – risk only money you can afford to lose. And certainly, do not borrow to invest – they call it leverage.

6. Have no fear; Long term means you can take a bit more risk. Equities carry higher risk than bonds. But if your saving horizon is longer term, say 20-30 years, then you can have more investments in equities. Typically if your age is x, you can take say 100 –x in equities. So if age 45, you can take 55% (100-45) in equity. The rest should be cash or bonds or with profits insurance products. However, if you have a lower risk appetite or you are nearer retirement, use 85-x. In any event, a good rule is never put all eggs in one basket, i.e. diversify!

7.You are no expert. Do not buy stocks directly, unless you are a financial expert or are prepared to spend a lot of time managing your stock portfolio. If I were to invest or realise a lump sum, I believe in averaging in and averaging out. For example, if I have $100,000 to invest, I will break them into ten installments and spread them over ten months. Similarly, if I want to sell something, I will tend to average out, for example, selling 20% of the investment at a time. In doing so, I minimise my risk. The truth of the matter is that no one knows the market top or market bottom. Neither do I. Remember, it is not timing the market. It is time in the market that matters.

8.Simplify your life and own only what you need. Have interests, not possessions, which enrich your life, and go for meaningful value rather than quantity. Buy things which last and which really give you pleasure. Do not buy things just because they are cheap. Never buy something just because somebody else has got it. It is silly and will not give you happiness. If you buy things you don’t need, you’ll soon sell things you need. And, never buy or spend on credit unless it is for your own property. It is possible for most of us to have a good life in Singapore without being super rich.

9. Your greatest asset. Your greatest asset is not money. It is you. Take care of your physical, mental and spiritual health and the well being of all your relationships. That also means buy all the term, disability and health insurance you need. And remember to help others less fortunate than you.


10. Be inspired. Read good books and guides. , Some of best books I have come across on the subject of personal financial planning are The Millionaire in You by Michael LeBouef, Rich Dad, Poor Dad by Robert Kiyosaki and How Much is Enough? by Arun Abey. Besides reading, talk to the right people for knowledge and inspiration.

Shield Plan - Do it !

I have always been very passionate about the importance of a proper Shield plan ( hospital & surgical plan).

When I wrote private shield plan, I am referring to Healthshield ( AIA ), PruShield ( Prudential ), SupremeShield ( Great Eastern ) ,MyShield ( Aviva ) and Incomeshield ( NTUC Income ).

At any one time, there can be only one Shield inforce, and it will replace each other out if one Shield is taken.

Not many know that by taking another private Shield, it will replace the existing Shield plan that you have.

So be careful when you decide to switch, be careful to declare any existing illness but my advice is if one has any chronic illness, stay put, like diabetes, hypertension etc, as exclusion on switching is to the disadvantage of policyholder, unless the insurer covers it, which is HIGHLY unlikely unless one has supporting medical report that is positive.

It is not wise to swing here and there, because any existing illness not declared, will fall under exclusion, so be very careful if you switch from one Shield to another Shield. Many ethical agents will advise you on this except rookie agents who do not know what they are doing and only keen to do a case, I am sorry that I have to comment on this. But such agents are now few in the market.

I will advise upgrading from CPF Basic Medishield to any Shield Plan as medical cost will be high forward.

If you noticed, I always write "take any Shield Plan that you are comfortable with". Check the benefits and get one that suits your needs and go with an insurer you are comfortable with. Bear in mind agent is not important as we will one day retire or have to leave industry because we cannot meet the target. We are as useful as we are around. So choose an insurer you are comfortable with.

To me, as a beneficiary of the plan because my mum is currently claiming for dialysis, I am very thankful for Incomeshield.

It is very tedious to contrast and compare, as most may have almost same benefits.

Do not compare and contrast until cow come home, at least take on a plan for safety first and do whatever comparison later and switch, if you have no time now. Like my muslim client wrote "Just do it ! Mati pun mahal"

So take one Shield Plan that you are comfortable with, though I want to say Incomeshield is the best. But it depend on which insurer you want to trust.

Incomeshield has been the first such plan since 1994 and we are there for a social purpose, and with it, competition for the plan came after year 2001. Shield plan was supposedly a plan insurers are not keen to offer and Income was the only insurer carrying this burden from 1994 and for commercial reason, competitors start to join in, which is good that Incomeshield is much improved and to me is the most comprehensive plan.

My parting word is, be kind to agents selling Shield Plan, it is really for service only.

IncomeShield - Just Do It ! "Mati pun mahal"

I have many clients who made claims from IncomeShield and most are very pleased.

Insurance is done for peace of mind, even though one do not claim against it for years, but for that one moment, it will give you peace of mind that you are COVERED.

Below is a testimonial of one of my client(with her permission) whose claim experience gave her a sense of security in Incomeshield. She is my muslim client.

Her message is "Just Do It!" "Mati pun mahal"

------------------------------------------------------------------------------------------------- Salam brothers & sisters,
I have something to share........ I highly recommend to all must buy NTUC IncomeShield policy at least a basic plan B or higher.

Thomas is my family friend and our NTUC Income agent who takes care of all our insurance needs, savings, critical illness, medical, education, car, house, investment you name it.

His article 3 below is Xxxxxx's hospital bill claim. Within one week I received an email saying that this amount has been paid to Mt Alvernia and I will be getting a refund from hospital soon, Alhamdulillah.

The balance claim will come from AIG (by RIJC) which till now I do not have any news yet.

Honestly, the premium for NTUC IncomeShield B plan is small (from Medisave with some cash adders) and I just bought the policy two years ago, Alhamdulillah. One of my friend bought NTUC IncomeShield Enhance plan and recently removed some tumour in his kidney at Mt Alvernia and stayed in class A single ward. His bill was fully paid by this plan too including the pre & post surgery.

I always believe in medical coverage since we are leaving in an expensive city called Singapore. "Mati pun mahal"

I know some of my brothers and sisters are planning to buy medical plan but not sure which one. So, for those who are hesitating to get covered, Just Do It!

Thank You & Best Regards,
Wassalam
Xxxxxx

Integrated screening programmme - Health Screening

When you receives this letter, it means you have arrived ( ageing ).

This is a good initiative to get citizens to be checked and to manage their possible chronic illness.

A health screening program for :-

1 .Obesity

2 .High Blood pressure

3. High Cholesterol

4. Diabetes

This is carried out by Health Promotion Board, which is good, but my advise is, if you have not done your Shield Plan or reviewed your critical illness coverage, please do so before attempting to do the health screening.

Do not get me wrong, if you come out of the test with flying colours, good for you.

But if the test is not so ideal, insurers will impose special term if you decide then to take up a plan.

So my advice is review your medical and health insurance properly before you go for the health screening.

Is Basic Medishield sufficient for lifetime?

MediShield is an individual catastrophic medical insurance designed to help Singaporeans pay part of the large hospitalisation bills for treatment of serious illnesses or prolonged hospitalisation at Class B2/C in restructured hospitals.

Do take a look at the CPF Board Medishield Plan.

Click Basic Medishield and it will lead you to the information page in CPF Board Website. Click on the questions as it has hyperlnk to answers.

Max coverage is up to age 85. Private Shield Plans provide lifetime coverage.

Basic Medishield is the least that one should have, but bear in mind it is not lifetime cover. I hope it will be improved to lifetime cover since private insurers ( Incomeshield ) already offered lifetime cover.

Shield Plan is a basic lifetime backup

Shield Plans are important plans, be it CPF Board Basic Medishield ( c0vering C ward and B2 ward level ) or any private Shield Plans ( Enhanced Incomeshield, etc ).

Some people think that they are provided medical coverage by employer, so there is no need for it. I have a friend, who thought so.

She worked in a company that provided medical benefit, so she works till in her 50's and was diagnosed to have cancer. Well, the company benefit covered her, but up to a stage when she is too weak to continue, she has to stop work.

She did not have a Shield Plan, not even Basic Medishield, because she terminated it, thinking employer already has the insurance for her.

It will be too late to consider a Shield plan at her condition, and her family has to bear the cost of her treatment.

Shield plan to me is a lifetime backup, whether it is Basic Medishield or private Shield plans, one should have it in place. Never mind if one is healthy and paying "donation" to the plan.

The many type of bills posted below also tell you how such plans can compliment bills not paid fully by other plans and how it can lighten medical bill burden.

I have also posted my own mother's monthly dialysis bill which will not be sufficiently covered by a basic medishield if one has kidney failure, as the limit of cover is higher from Incomeshield.

In particular, only kidney dialysis, Incomeshield will cover it with better benefit of cover than a Basic Medishield.

There is a popular blog that advised only Basic Medishield is sufficient, and I hope he will be more responsible in his personal advice. I present my own mother's monthly dialysis for information, and if I use Basic Medishield, the claim limit per month is $1200 as compared to $2400 per month for Plan B of the Incomeshield.

Shield Plan is a basic lifetime back up. Plan for peace of mind.

Enhanced IncomeShield Plan Prefered

This is a Enhanced IncomeShield Plan Prefered plan, which covers up to any private hospital care. The client insured her mother under this plan, with a Plus Rider (old rider), and the operation was covered 100%. ( Click on the bill imagine for details )

Appropriate plan for appropriate care with Assist Rider is beneficial for those who has no proper medical coverage.

Plan B ( old plan ) Plan Basic ( Enhanced Plan )

This is a bill for 2 surgical operation procedure done at SGH at class B1 ward.

As the bill is old Plan B, it has caps and limitations.

As this insured does not have the Plus Rider, there is a deductible of $2000 and 10% co-payment that she is responsible for. The Deductible shown in this bill is less that $2000 because in her earlier hospitalisation, there was a bill of $1779.23, so this subsequent operation made up the balance to $2000.

As the old plans has caps in each item, the claim payout only reimburse to the limit of cover.

If she has insured under Plan Basic, the bill would have been paid more as Enhanced Incomeshield Plan is a "as charged" plan.

It is advisable to consider the Enhanced Plan with "as charged" cover.

Sports injury - keyhole operation to repair knee liagment at private hospital

Most knee sprains are minor and recover fully after a short period of rest. If the knee is still swollen, painful and limited in its ability to bend after a few days, or it feels wobbly and unstable, it is more likely that the knee has sustained significant injuries which should be attended to.

Soccer and basketball players constitute the majority of patients who sustain serious damage to the knee. Most commonly, the anterior cruciate ligament is torn as a result. Many sportsmen report a ‘pop' sound during the injury with the knee buckling and giving way. There is usually swelling of the knee within the first few hours.

This bill comes from a client's daughter who is active in sports. (Click on bill image for details)

The claim is paid half, because she is covered under Enhanced Incomeshield Plan Basic.

If a patient choose to go to a private hospital, the plan has a pro-ration of 50%, this is the reason the bill is settled with 50%.

Insured is a student, and balance will be claimed against school insurer as injury is sustained in a ball game.

This plan is Enhanced Incomeshield Plan Basic with Plus Rider.

Endometriosis Bill Size ( KK Hospital )

Endometriosis (from endo, "inside", and metra, "womb") is a medical condition in women in which endometrial cells are deposited in areas outside the uterine cavity. The uterine cavity is lined by endometrial cells, which are under the influence of female hormones. Endometrial cells deposited in areas outside the uterus (endometriosis) continue to be influenced by these hormonal changes and respond similarly as do those cells found inside the uterus. Symptoms often exacerbate in time with the menstrual cycle.
Endometriosis is typically seen during the reproductive years; it has been estimated that it occurs in roughly 5% to 10% of women. Symptoms depend on the site of implantation. Its main but not universal symptom is pelvic pain in various manifestations. Endometriosis is a common finding in women with infertility.

( Info from Wikipedia http://en.wikipedia.org/wiki/Endometriosis )

This bill ( click on the image to see the details of bill ) is covered with Enhanced Incomeshield Plan Prefered with Plus Rider.

Bill is fully paid. The cash benefit is paid in lieu of the fact that policyholder stayed in KK hospital A ward. Plan Prefered covers up to private hospital care, so if policyholder with the rider stays below the plan bought, a daily cash benefit is paid. Click Incomeshield for more information.

Hysterectomy hospital bill 2009

A Hysterectomy is the surgical removal of the uterus, usually performed by a gynecologist. Hysterectomy may be total or partial . It is the most commonly performed gynecological surgical procedure.

This is a 10 day stay at A ward, KK hospital with a Hysterectomy settled by Incomeshield.

Enhanced Incomeshield Plan Prefered with Plus Rider, but since KK is a restructured hospital,
thus a cash benefit of $125 per day, total $1250 for 10 days is paid on top of settling the bill.

Enhanced Incomeshield Plan Prefered covers up to private hospital care, since insured has the operation done at restructured hospital, an addition cash benefit of $125 per day is paid on top of settling the bill. This benefit is provided, if Plus or Assist Rider is added to the plan.

Click on the image if you need to look into the details.

Good News

NTUC Income Maintains Payouts for Life Policies in 2009

As a result of the bonus restructuring last year, NTUC Income is able to maintain yields and payouts for life policies in 2009, despite the financial crisis. This year, the restructuring will be extended to other participating policies.

For the full media release, please go tohttp://income.com.sg/aboutus/releases/2009/mar27.asp
For Frequently Asked Questions, please go towww.income.com.sg/aboutus/bonus/2009

(Click on the picture for details)

Kidney Dialysis covered with IncomeShield

This copy of a monthly kidney dialysis belongs to my mother.

I am not capitalising on this to tell you to get IncomeShield. If you choose a Shield Plan, make sure the chronic outpatient treatment part, especially for Kidney Dialysis has sufficient cover for the kidney dialysis as it is one long term treatment that will be costly.

I am thankful that my mother's kidney dialysis bill is cushioned by Incomeshield, typically a month cost $2700 and Incomeshield pays about $2400.

Imagine if I have not insured my mother on IncomeShield, to shoulder the bill with my siblings will be very heavy.

With the burden of the medical expenses behind us, we concentrate on taking care of my mother.

I have always have this one advice, whichever Shield you are happy with, please take one.

I have to advice that CPF Board Basic Medishield is not able to cover kidney dialysis sufficiently.

You can click on the bill to look at the details of it.

Cactus Flowers

Bloomed on 24th March 2009

This morning, I read the papers and saw a client in the orbituary, he is age 70.

Just last month, he called me, to do a travel insurance for him and his wife to visit his son in Taiwan.

He has always been a jovial and positive person. Happy and feel blessed to have a good family.

He will make me a cup of coffee whenever I visit him and we will have a good chat.

Goodbye Henry, I will miss your cup of coffee.

Do your Shield Plan proper before a routine checkup

Before you do start to do any routine regular checkup, say from age 40 or 50 onwards, for chronic diabetes or ladies to start to do mammogram , do ensure that your medical plans are already properly in place or upgraded to proper Shield Plans before doing any such routine regular checks. Reason being if anything is fished out, it will be too late to do upgrade or the plan, as exclusion will be imposed on existing conditions.

Or if you are considering to review the critical illness plan, do it before such routine check. I am not saying anything will surely happen during a routine check, but do ensure all necessary plans are reviewed before doing such milestone checks.

Here is a lament of normal routine check -
"I should have upgraded my medical insurance plan last year to Plan A or even Plan P. Sigh…delayed and ended up may not be able to do so. What has happened to me? You know, I did my mammogram last Dec 28 and got a very unpleasant result on March 09. It says that my mammogram shows some changes and requires further investigation and it was during the CNY period. So damn worry and instead of going back to the Health Science Authority – Breast Screening Centre, I went to my company’s doctor. Was sent to do a re-scan and ultrasound. The re-scan mammogram was ok but the ultrasound shows some small nodules and one small cyst. Thus doctor sent me to a SGH specialist and she said that I should have gone back to HAS because they will just do another mammogram which is quite common for a lady of reaching 50. Now, it is not for the mammogram but ultrasound that I have to go back in 6 months’ time for a review"

PICK A TREAT PROMOTION - click on the picture

Incomeshield Plan ( Click on it for more information )

Confirmed - Successful liar wins !

CONFIRMED.

I got a client who met with an accident, and TP (the other party) lied and turn the report from minor road to main road situation when TP came out of minor road to hit OI (my client)'s car.

TP report it as parallel on main road and sued OI, and instead of being at fault, it become 50-50. Well, in the court of law, the judge see it as one man's word against the other.

SUCCESSFUL liar wins ! Does that mean judge is being misled and insurers are suckers?

Well, this world has many who has no integrity, when come to accident, their moral integrity is just down the drain. Of course, there are also those honest one and it make things easier for all.

My advice to my client is always report with integrity and we will assist.

Who is the greatest crook? First, the liar, then the workshop who probably taught the lady to lie, and then engage lawyer who acted to fight the case in court.

Who is the loser? All policyholders, as more fees has just been paid to the lawyer and workshop for the claims. Not the fault of the insurer, but the liar and surely something is wrong with the claims framework.

Successful LIAR can win accident claim

I noticed some time successful LIARS win a claim when they file an accident claim.

We can see that in an accident, integrity of a person went down the drain, even in situation when a victim died. They will lie until case is over.

It is very sad and very unfair to the deceased family members having to file civil suit.

There is no penalty for one filing such false report, even after investigation found them guilty and report is incorrect and pack of lies.

Problem is they normally got a fine and insurer pays the damage.

Worst, some time the LIAR is successful and win the case as well.

If the law will punish the liar motorist if found to be making false report, I am sure more motorist will not dare to lie in reporting.

Something is wrong with this aspect of accident reporting that the law should come hard on liars and people will think twice about twisting reports.

Perhaps GIA should work with the police on this aspect of false report, if proven.

Do not forget to put on seat belt when driving in Malaysia

The Malaysian traffic police have their eyes wide open to catch your rear sear passengers for not wearing seat belts. It is by per passenger that they will be fined. And obviously, you know how to get out of the situation. So beware if you are driving in Malaysia, do not forget to buckle up. By law, they are doing their duty but.....why risk getting fined.

Seat belt rule in Malaysia is harsher than what I thought - Jail term 1 year
(From their press release found in internet)

PETALING JAYA, MALAYSIA: The Road Transport Department (JPJ) and police will start issuing summonses from Jan 1 to all passengers for not wearing their rear seat belts.JPJ director-general Datuk Solah Mat Hassan said vehicle owners and passengers would be given a six-month grace period during which they would only be issued a compound of RM300 for not wearing their rear seat belts.

From July 1, drivers and passengers caught not using their seat belts would have to pay a fine of up to RM2,000, serve up to one year's jail or both under the Road Transport Act, said Solah.

Medishield and private Shield Plans are important plans

I will quote to you 2 scenarios on how Private Shield Plans are basic important plan in life.

(Insured with Incomeshield)
( Scenario 1) - My own mother is now on kidney dialysis. If not for the fact that we have a few siblings, the burden can be heavy, even with Incomeshield in place. But Incomeshield is really the plan that cushion off the burden in large proportion for my family.

In Singapore, dialysis in a private dialysis centre cost about $2300 to $2700 depending on frequency and Erythropoietin medicine. Incomeshield Plan Basic pays for up to $2400 per month for dialysis.

Basic Medishield pays up to $1200 a month.

Only in particular for dialysis, one need to take a Private Shield Plan as Basic Medishield cannot meet the need of dialysis treatment.

Reason being in Singapore, there is no government restructure dialysis centre, and most are classified under private, which quite badly impacted basic medishield claim limit as well as some Private Shield Plan claim limit.

(Scenario 2) - If one has no Incomeshield it is really very hard. Yesterday, I brought my mother to visit a distant relative in Yong Peng, Malaysia, she was blinded by diabetes and kidney failed 6 years ago and now on kidney dialysis.

Life is tough in Malaysia, a session of dialysis cost RM220 and after discount is RM170. Twice a week. Erythropoietin drug injection cost another RM60 a week. total RM400 a week.

They live in Kampong, and the children has to bear this cost, which is rather hard on them.

We are fortunate in Singapore, that we have proper insurance scheme like Medishield or Private Shield Plan to help us. But the sad thing is people still do not see the reality of life.

Many people do not appreciate the reality of our blessedness in Singapore.

As I write this in my blog, there are people who will write to me that I am capitalising on my mother's case to sell insurance, can u imagine that? But I still feel the need to write.

Stay Cool in event of an Accident

Some time in event of an accident, it can be frustrating and stressful.

I like to advice that in event of an accident, before vehicle is shifted away from scene, to try and take picture of the scene, if it does not cause danger to you.

I can only say that in this world, there are lots of great liars around.

Their report can turn from black to white and whatever colours they can too.

I have been handling claims liaising for clients with office, and some claims are just ridiculous.

Example,
1. My own brother, hit by a taxi coming out of minor road, the taxi driver reported my brother hit his taxi, speeding. It took me 3 years to use a lawyer to sue him and got some compensation for injury. Imagine my brother nearly died and the taxi driver has the conscience to report otherwise.

2. A client's car got hit, same by a car coming out from minor road, collided onto his side left rear back. I was asked to assist in private settlement, went to a workshop with client, but the other party do not want to pay, so we decided to claim insurance. Hold and behold, the other party initiate a claim with a writ of summon, and she ( imagine a lady ), reported that while her car was parallel on the road, my client's car, cut into her lane, result in her car collide into his side left rear back. Such lies will become a 50-50 case or even she winning the case.

But she is stupid not to realise I was with client at workshop and in court I can be called up as a witness. I told the client, yes, submit my name to the court and I will be there.

There are simply many scenarios. Just report any accident with integrity, if you are right, insurer will defend, if you are at fault, insure will pay the claims.

But bear in mind, some time the LIAR wins, even though you are RIGHT.

Just do not be too stressed, even if lost to a great LIAR.

Car Rear Passenger seat belt campaign

Very interesting and creative rear seat belt campaign, play it and have a good laugh.....

恭喜发财，万事如意，身体健康，心想事成!!

( Maxims of Warren Buffet )
We begin this New Year with dampened enthusiasm and dented optimism. Our happiness is diluted and our peace is threatened by the financial illness that has infected our families, organisations and nations. Everyone is desperate to find a remedy that will cure their financial illness and help them recover their financial health.

They expect the financial experts to provide them with remedies, forgetting the fact that it is these experts who created this financial mess.

Every new year, I adopt a couple of old maxims as my beacons to guide my future. This self-prescribed therapy has ensured that with each passing year, I grow wiser and not older. This year, I invite you to tap into the financial wisdom of our elders along with me, and become financially wiser.

Spending: If you buy things you don't need, you'll soon sell things you need.

Savings: Don't save what is left after spending; spend what is left after saving.

Hard work: All hard work brings profit; but mere talk leads only to poverty.

Laziness: A sleeping lobster is carried away by the water current.

Earnings: Never depend on a single source of income.

Borrowings: The borrower becomes the lender's slave.

Accounting: It's no use carrying an umbrella, if your shoes are leaking.

Auditing: Beware of little expenses; a small leak can sink a large ship.

Risk-taking: Never test the depth of the river with both feet.

Investment: Don't put all your eggs in one basket.

I'm certain that those who have already been practicing these principles remain financially healthy. I'm equally confident that those who resolve to start practicing these principles will quickly regain their financial health. Let us become wiser and lead a happy, healthy, prosperous and peaceful life.

- Warren Buffet

Means testing starts on 1st Jan 2009

Those in B2 and C class wards will be asked to consent to checks on their income.

PATIENTS warded in B2 and C class wards in public hospitals from today will be means-tested to determine the level of subsidy they will get.

H ours of happy times with friends and family
A bundant time for relaxation
P rosperity
P lenty of love when you need it the most
Y outhful excitement at lifes simple pleasures

N ights of restful slumber
E verything you need
W ishing you love and light

Y ears and years of good health
E njoyment and mirth
A ngels to watch over you
R emembrances of a happy year!

Limited Premium wholelife vs normal wholelife policy

There are some independent Financial Planner or adviser who advice limited premium wholelife plan is better. Sure but if one already has a normal wholelife, does it mean one has to give up a normal wholelife plan to take a limited premium plan? This is actually attempt to churn policy.

In the name of Financial Planning and advice, some Financial Planners with independent Financial Advisory company may do a review and introduce limited premium Wholelife Plan and advise on terminating normal Wholelife plan.

I wish the limited premium wholellife plan was introduced earlier that I may also take a plan that covers me wholelife and I pay the limited premiums, say for first 10years, this is Vivolife.

In earlier days, wholelife plan like Protection Policy and Living Policy will need premium to be paid wholelife. Vivolife still has the option to pay wholelife.

I want to let you know that the Annuity conversion option in the wholelife plan is useful.

Here is an example ( refer to two illustration below ) of a $100,000 wholelife plan, and premium payable wholelife. When you reached age 65 and assuming if you surrender half the policy to convert it to Annuity Option, you can draw on annuity payment of $3214.40 per year, which you use to pay premium of $1944.15 which is more than enough.

You may also choose to convert 30% of the cash value to annuity to just meet the annual premium and continue the plan with good coverage.

NTUC INCOME's wholelife plan has an option to convert to Annuity after age 60 and this is useful for current policyholders who has wholelife plan that when they are at age 60 and beyond to have the option to choose to convert part of cash value Annuity Plan to continue payment of premium, this is possible, so this then will ease the burden of paying premium as well as to maintain a coverage.

This is not worst than the current limited payment wholelife plan.

So the next time you meet a financial adviser or planner who tell you they represent a few insurers giving you independent advice, and to switch to a limited premium plan for older plan, be mindful of this annuity option that can be used then.

I know of policyholders who gave up wholelife plan just to buy a limited premium plan, after 10 over years inforce, this is ill advice of a planner and is simply self interest and not to the interest of policyholder.

This is also what we call churning. This is my personal advice and if you are asked to give up a normal wholelife plan for a limited premium plan, please consider again. You can have another plan, but there is no necessity to churn one policy to take up another one. This is for whose interest, in the name of independent advice?

Do not be a burden to the next generation

As I have written before, kidney dialysis cost about $2400 a month. The impact of dialysis a year is $28,800. This is not a small figure if it is for a year, but with the uncertainty of how many years one need dialysis, the impact is quite great if for 10 years, the cost can be $288,000 not counting other medication and followup treatment.

Most of the us may have only 1 or 2 children, some may have more, but will this be a big burden for them to bear in time of need? Or are we prepared with such cost?

Will the next generation be able to shoulder such unforseen situation? The answer is quite obvious, even if one can afford it, the cost is quite a concern.

Other kind of treatment will be cancer, stroke or heart problem, with long term treatment and medication, the cost can be quite high.

I am not trying to scare you, but from my own experience, I am thankful that I have at least an Incomeshield in place for my mother that can cushion off the bill, though the co-pay of 10% is still needed. And I have 5 siblings with me shouldering the cost, which with the Incomeshield is not a burden and I am very thankful that I insured her since 1994 for Incomeshield. Every month the cost of dialysis and other cost is $400 a month, this is far cry from $2400 if without Incomeshield.

How can we not be a burden to the next generation and to take care of our own needs?

Basically, I have been writing about the need for Vivolife Plan , a wholelife dread disease plan that covers any lost of live, permanent total disability or on diagnosis of specified 30 dread diseases.

Incomeshield or any Shield Plan will then be the most basic plan that every one should have. I can say, without a life plan is still not as bad, but without a Shield Plan is disastrous.

I hope you will consider to review your family's plans to cater to future needs, so as to have peace of mind and not to burden the next generation or come to a stage when financial problem will set in, in event of a chronic illness.

I am sorry to be so straight to the point on this, as my experience with my own mother, has opened me up deeper into helping others to plan better.

Many are willing to pay instalments of $1000 a month to pay for a car that will go to scrap yard in 10 years, but to set aside $200 a month or so in a good plan for the financial security and peace of mind of a lifetime, many are no so willing. Why?

Vivolife also has a limited premium term of 10 years, to cover one wholelife.

When you buy a car, it is so much more expensive and goes to scrap in 10 years, but with a fraction of your commitment, you are covered wholelife after paying premium for 10 years as well. Which can drive you further?

I hope you can see the reality and priority of such plan.

Understand what you have been sold

This bancassurance and financial product sold through the banks, need more supervision.

I have written before, go to the bank with your older relatives or educate them on the need to understand what is sold to them.

If mis-selling is to be probed further, other products will also surfaced.

Many years back, a client's mother age 56 walked into a bank and was sold Anticipated Endowment without her knowing it is an insurance product with phrase "auntie, u put $3000 a year and every three years u get $1000, isn't this better than interest?" Auntie signed up and on year two her daughter felt something is wrong and asked me, and I told her it could be an anticipated endowment, and true enough it was. How can a housewife age 56 be able to pay $3000 a year for next 15 years? She then realised she was sold an insurance product just like that. She ended up having the policy lapsed as she cannot afford the second year premium.

Just 3 weeks ago, my 57 year old client told me the same story, she went to U.. Bank and wanted to renew her FD, and was sold a 10 year endowment with 5 years limited premium , and premium is $10,000+ a year. When premium due notice arrive this month, she was caught, and asked me how she can afford $10K a year forward? I advised her to seek FIDREC since U.. Bank is not solving the problem for her, keep delaying.

Today, in the name of independent financial advice, some are reviewing policies of clients and in the name of financial planning and analysis are advising replacing of policies subtlely. Some riders may not be appropriate, but definitely not plans that have been inforce for a long time, even CPFIS Endowment plan has been advised by so call, Financial Advisor to be terminated, and reinvest to other plans. For whose interest when such policies are being churned?

These are but just some of the stories we heard every now and then, Mini Bond and High Notes are just the high points of events.

More has been misled but not knowing how to seek re-dress and have been suffering in silence by bancassurance and banks selling financial products.

My bank relationship manager called me for MiniBonds too, I was caught in a few restructured products before, don't laugh, you can see we ourselves can also be misled by the relationship managers. I have asked specific questions, but answer were pack of lies until I discovered too late from the fine prints, by then, they argue with me that it was not said and the fine prints stated it, in relation to 100%principle redemption if I terminate in between. It was really a lie, and I thought I can trust them then.

MiniBonds was recommended to me as bonds, but my question to her was how it can be 5.1% when coupon rate for most bonds are about 3%.

This time round, I was fortunate that I did not place money in the MiniBonds as I remembered the lies they told me before.

All of us have to bear in mind to plan with the interest of our client at heart. Especially for the more elderly. It is hard earned money that we should not hard earn from them. Recommend appropriate plan for the interest of policyholders.

I can only say, your sin will find you out.

How is your standing forward in this current financial turmoil?

Have you ever plot your assets and insurance maturity along a time line to give yourself a picture of your financial standing forward? If you click on the above image, you will see the time line chart in better detail.

In this financial turmoil, have you plotted out your finances and assets to see how your future will be affected?

The timeline chart drawn, can at least tell you what is available forward in worst case scenario.

It is good to plan ahead to have insurance savings plans to leap frog ahead towards retirement. Ntuc Income has single premium endowment plan, Growth Policy, that gives good yield over the years. This couple also has investment linked funds and other insurance coverage as well, not shown in this time line.

You may want to click on this line for Growth Policy

What is dollar cost averageing and who is buying now?

How many crisis have we been through?

Click on this chart to see.

FIDREC

I have written before to go to the banks with your folks, and just last week, I have a client who was misled into buying an insurance product walking into one of the bank to renew her FIXED DEPOSIT.

One can seek redress from the insurer, but some time it is frustrating and no solution is given.

I am writing to you this avenue, in a way, you can also use this against me, if I fail you in the future.

Go to FIDREC website and seek resolution for such mis-selling, if you have folks who are being misled or mis-sold a product not of their understanding.

The website is at http://www.fidrec.com.sg/website/faq.html

The Financial Industry Disputes Resolution Centre Ltd (FIDReC) is an independent and impartial institution specialising in the resolution of disputes between financial institutions and consumers. FIDReC subsumes the work of the Consumer Mediation Unit (CMU) of the Association of Banks in Singapore and the Insurance Disputes Resolution Organisation (IDRO).

FIDReC provides an affordable and accessible one-stop avenue for consumers to resolve their disputes with financial institutions. It also streamlines the dispute resolution processes across the entire financial sector of Singapore.

FIDReC provides an affordable avenue for consumers who do not have the resources to go to court or who do not want to pay hefty legal fees. It is staffed by full-time employees familiar with the relevant laws and practices.

FIDReC was initiated by the financial sector to make its services more professional, transparent, customer focused and service oriented. It was officially launched on 31 August 2005 by Mr Heng Swee Keat, Managing Director of the Monetary Authority of Singapore.

Proper planning towards old age

With my mum's situation (kidney dialysis) and pre-mature decease of two clients last month, I wanted to write, but is difficult to pen.

I have finalised the claims for the deceased, and payout is fast and prompt.Settled.

These are facts of life that some time, we refuse to face the reality to plan.

1. Planning to care for parents and self as old folk ourselves in future to come (vivolife & Shield Plan)

2. Financial Planning covering liabilities ( assets and family needs)

3. Planning to meet contingencies in pre-mature death ( Family needs and children's education )

4. Retirement planning ( Long term medical need and self financial independence )

These are milestones in life. It embodies Protection, Savings, Health care and Retirement. Still the same 4 core needs of life.

I know it will hit hard, as I relate and unfold the story, but how to bring it out nicely, so as not to hurt the feeling but with reality, is a challenge.

I can write in one long email or divide into 4 topics, but it will be long and some time difficult to accept.

Can write and think until cow come home, but in reality, it is a responsibility to look into the interest of planning it well for my clients too.

I hope we can take a moment to consider our responsibility to our parents, family and self, not to burden the next generation. Is mind boggling but is necessary to ponder and plan for the minimum we can.

Sorry, life is not to be so gloomy, plan it essentially right and enjoy the life with your family.

Essentially back to basics.

Life is fragile

A client of mine suddenly passed away on 22nd August of cardio-respiratory failure.

When I was reading the papers in the morning, I was shocked to see him in the orbituary.He is at the peak of his career at age 54. A humble and successful engineer. He has a good family life.

He has been a happy policyholder of Income since 1989.

Life is fragile.
------------------------------------------------------------------------------------------------- Today, 27th August got an SMS from another client, her husband was knocked down at a pedestrian crossing yesterday and died.

A university lecturer in his 40's. It is very tragic. What is happening?

This reminds myself of the need to look after the financial security of our clients.

My heart goes to the families in this time of lost.

Vivolife & Shield Plan

I have written about importance of Vivolife and Shield Plan many times, and my mum's recent need for dialysis opens up a concern I have for proper planning.

Most of us in the future will have one or two children family and such dialysis need is a heavy burden if not properly dwelt with. I will be pursuing a change in this clause to be fairer to policyholders by insurers. It is a small number that may need this.

Other than this, Shield Plans are mostly quite adequate. Best is Plan Prefered. The pro-ration factor in Plan Basic and Plan Advantage is not to advantage of policyholders which most insurers also practices. I have feedback on this and will be actively pursuing for a change forward.

Even with adequate cover, co-pay for dialysis will cost $30 per session, without insurance coverage, it will be full impact of $180 per session and for Plan Basic, there is a 50% pro-ration which I am now pursing for a change to improve to peg it to a cap which is fairer to policyholders.

Assuming if one need dialysis, the impact is about $400 to $500 a month, if the benefit follows the previous medishield limit.This will be $6000 a year, and if one need to go through for 10 years, it will be $60,000 still something that we have to consider.

If one has a Plan Basic, impact will be about $1200 a month on 50% pro-ration and this will be about $14,400 a year and $144,000 in 10 years, putting aside hospital treatment.

If one do not has a Shield Plan, one can try to get subsidy into NKF, and hopefully pass means test. If not, a session is about $2000 and this will be $24,000 a year and this translate to $240,000 for 10 years.

A proper Shield Plan is important, if you can understand what I am trying to share. Plan Prefered is the best as it covers private dialysis centres. Problem in Singapore is that there is no government restructure dialysis centre.

Even with a Shield Plan with the 10% co-pay, one still need to be prepared for at least $6000 a year for dialysis patient.

I must qualify to say that other treatments for Shield Plan are adequately covered as according to plan as there are government restructure hospital to go to. Dialysis has no government centres.

My advice is then one should look into supplememting our latter years with an appropriate wholelife critical illness plan.

Vivolife from Ntuc Income is a critical illness plan, covering whole life, but with limited premium payment of choice of 10, 15, 20. 25years etc.

Bascially, I have been advising on a Vivolife with Shield Plan. And if one needs further protection, then riders will come in between our productive years, but latter years, the critical illness plan will serve us to the end with less burden to the next generation.

If you click on the banner below , you will be link to Income website for more info, otherwise, you can contact me and I will give you the information.

I am not trying to use my mum's case to sell you the plans, but it is a reality and experience in my life that serve an urgency for proper planning.

If you wish to discuss further, please do not hesitate to contact me.

PS-I have feedback on the shortfall of pro-ration on outpatient kidney dialysis and am glad to note that by year end, the Enhanced Incomeshield Plan will be improved and this outpatient kidney dialysis treatment benefit will be improved to benefit policyholders better.

Kidney Dialysis

The day that I dread that it should happen has happened.

I am not capitalising on this incident to sell you insurance.

My own mother has lapsed into need for kidney dialysis and will be discharged from hospital to start her dialysis in dialysis centre from tomorrow.

Many issues cropped up and it is an eye opener for me as I attempt to resolve them in the next few days.

I will probably write to share this experience with you once I have settled her down.

My concern has always been a Shield Plan is important, but it may not be enough but it surely cushion off a big bill and give the patient more peace of mind.

The renal nurse counselled the family that some simply do not have the means and has to be prepared for a painful death.

Sorry, I am not using this to solicit sales, but these 20 years in this industry, this is the second time I come across dialysis.

There are more to it than only insurance.

Life is fragile.

Public Service employee medical benefit under MSO Scheme

Many new public service employees who fall under MSO scheme, do not seem to understand that the 1% additional medisave paid to them is for them to take personal responsibility to take up a Shield Plan for hospital and surgical coverage. Many are sadly unaware of this and some end up hospitalised with no such plan in place to cushion off heavy hospitalisation needs.

Since 1994, when the MSO was introduced, NTUC Income and commercial insurers were asked to introduce a Shield Plan, but only NTUC Income is willing to underwrite and thus Incomeshield was offered. Many years after, commercial insurers find it viable and start to jump in to offer Shield Plans as well.

This is good as competition results in better Shield Plans today.

Following is excerpt taken from http://www.ps21.gov.sg/challenge/2007_01/staff/staff.html

Medical and life insurance – what every public officer should know

PUBLIC SERVICE MEDICAL BENEFITS

The prevailing medical benefit scheme in the Public Service is the Medisave-cum-Subsidised Outpatient (MSO) Scheme.Officers joining the Public Service after 1 January 1994 are placed on this scheme. Officers who were in service before this date are either on the Co-Payment on Ward Charges (CPW) or Comprehensive Co-Payment (CCS) scheme, where they will co-pay a portion of their inpatient and outpatient treatment in accordance with the co-payment percentage stipulated under each scheme.An officer under the MSO scheme enjoys medical subsidies, capped at $350 annually, for his outpatient treatment. He also receives an additional 1% Medisave contribution in lieu of inpatient subsidy.Unlike officers on the older CPW and CCS schemes who do not receive any benefits if they remain healthy, an MSO officer will receive the unused balance of his $350 outpatient entitlement and the 1% contribution, which are credited into his Medisave account, even if he remains healthy.

Insurance for Kidney patient

My mum's kidney is now left with 10% kidney function and if it fails further kidney dialysis is needed.

My friend's mother is already on kidney dialysis.Each month, Incomeshield pays $2000 for the dialysis, and other cost that is beyond the cover can be up to $700 more in expenses.

Say what one like, wholelife plan, especially those with limited premium payment may be good for last stage of one's life.I have 3 Living Policy myself taken over the years when there was no limited premium payment plan then. In my old age, I will continue these policies, so that I will not be a burden to the next generation. I wish limited premium plan was available then.Premium can be high for wholelife, but it gives one peace of mind in old age.

This is what I see in my friend's mother and my own mother now.

Shield Plan is the most basic important plan to have.

A critical illness wholelife plan of appropriate amount will be helpful.

Why burden the next generation?

Giving Back to society

At the last AGM, if you look at the NTUC Income Annual report, it will reveal the Chairman and Director's fees. The fees are so low, and imagine the responsibility the Board shoulder in guiding the Co-operative forward.

I wonder why these group of professionals serve on NTUC Income Board that pays them so low a fee. I believe these group of men are giving their service back to society seating on the Board, especially the Chairman.

If you have attended the last AGM, you will feel the heavy responsibility this Board shoulders in bringing and guiding NTUC Income forward for the benefit of policyholders, despite the low director fees they receives.

The mission statements of the Chairman and CEO are as follows if you click on the link below or go to NTUC Income website.

- CEO's Statement on Bonus Re-structure
- Chairman's Speech at the AGM
- FAQ on Bonus Re-structure

Low Cost check up for Chronic Illness for age 40 to 49

Government has announced an initiative to provide low cost medical checkup for chronic illness like diabetes, hypertension, etc.

This is a good initiative, but before you jump into it, this is my advice.

At least 6 months before you decide to do it, review all your medical insurance and life insurance needs.

Medical insurance like the Shield Plan and your protection and especially the critical illness needs, before you decide to take the checkup.

Well and good, after the test, you are certified healthy, BUT, if something crop up, then it will be a problem to get insured especially for Shield Plan without exclusion.

Perhaps Ministry of Health and CPF Board should come together to offer the Shield Plan first before one takes up the test.

This is just my advice that if you intend to do the checkup, do your own review first.

Extra sea lane revenue for Pedra Branca 2012 ?

NTUC Income Bonus Declaration 2008

In April 08, NTUC Income announced a re-structuring of the bonus with respect to life policies incepted after 1993. We decreased our annual bonus from 2.3% to 1.3% of the sum assured and increased our special bonus from 25% of accumulated bonus (for policies of more than 15 years) to 30-120% (for policies ranging from 20 years to 2 years).

The policyholder benefits are not impacted by the re-structure.

NTUC Income set out a list of frequently asked questions in relation to the bonus re-structuring exercise at www.income.com.sg/bonus/

Is the old bonus approach better or the new approach? If there is no difference, why bother to change? We can just cut annual bonus when returns are bad, just like the past?

There is no right or wrong approach, just which is considered best practice. We believe the approach that we adopt is professional and financially sound and has been widely practiced by many reputable insurers worldwide, including well known mutual insurers. Most important of all, we believe that this practice will benefit our policyholders in the long run. NTUC Income is a social enterprise and our actions and decisions are geared towards ensuring the best benefit for our policyholders.In our investigations, we noted that the past practice of cutting bonuses when times are bad and restoring them eventually is not necessarily a good practice. It is a simplistic tool that impacts all participating policyholders. When bonuses are restored, they may not be restored fast enough to bring back their yields to an attractive level. Managing special bonuses gives us more flexibility to do that.

To read more goto www.income.com.sg/bonus/

Look like we cannot assume 2% inflation to plan for retirement.

Are we poised for retirement, assuming 2% inflation? Look like inflation rates has to be raised and figures re-worked if one is to retire comfortably.

CPFLife - Good retirement plan with Timeline Planning

Hot topic of CPFLife

The estimated monthly payout from age 65 , with $134,000 in minimum sum.

The above estimated payouts are based on (a) estimated LIFE premiums for members who turn 55 years old in 2013, (b) entry into the CPF LIFE scheme at age 55, and (c) an interest rate of 4% pa for the Minimum Sum, with an additional 1% pa extra interest on the first $60,000 of CPF savings.

With the CPFLife forward, retirement fund after age 65 is clearer.

So if one need to take it easy from age 55 to 65, one will then need to plan to cover this gap for the next phase of retirement.

I have written on a subject Timeline planning, if you click on this Timeline Planning, it will lead you to the topic on how you can plot your assets, savings and investment to check your plans forward and to then know at a glance where your gap is and to plan to cover the gaps.

I think by doing a simple exercise of drawing a timeline, one should be able to see how far they have planned for their retirement and where their assets are positioned.

Vivolife - Limited Premium Living Policy

Vivolife was featured in Sunday Times yesterday and recommended as a good plan.

This is basically a wholelife plan, but premium payable can be from 10 years to 25 years and coverage is wholelife.

1. In the event of death, Total and Permanent Disability or on diagnosis of any of the 30 dread disease within the first 15 years of coverage, the benefit payable is the higher of the sum assured plus bonuses, or 125% of the original sum assured.

2.In the event of accidental death, the total benefit payable will be up to 3 times the sum assured plus the bonus.

3.Retrenchment waiver for 6 months premium

4.Annuity option, you'll receive 5% additional cash value when you convert your policy into an annuity at age 60.

Perhaps you may want to click on this real Life case in my blog. Is it time to review your needs?

Enhanced INCOMESHIELD Plan

With the recent talks on means test, you may want to take a look at the Enhanced Incomeshield Plan. Click at the picture and it should lead you to our website for more details.

When should you activate Travel Insurance?

Holiday season is coming and many will travel out for holiday. Most people effect the travel insurance a few days before they leave. Some call when they are in the plane about to take off.

Actually many do not realise in most Travel Insurance Plan, there is a clause covering Trip Cancellation/Curtailment expenses.

Basically, this means, in event of the circumstance arising in one having to cancel their trip and there is a lost of travel expenses, the policy will reimburse the lost.

A policyholder, his son age 30+ contracted dengue fever and was hospitalised and he has to cancel his trip to Sarawak, and lost his travel expense of $600. He activated the travel insurance one week before the trip, and thus the lost was compensated by the insurance curtailment clause.

So my advice is, buy the travel insurance in advance once a trip is confirmed. Most insurer do have this curtailment clause to cover as well.

Travel Insurance Promo 29th Feb to 30th June 2008

Are you prepared for your child's University fees?

Headlines

NTU to raise tuition fees by 4%
UNDERGRADUATE tuition fees at the Nanyang Technological University (NTU) are going up.Incoming students in the new academic year will have to pay an annual fee of $6,360 up about 4 percentage points from $6,100 last year, NTU said in a press release on Wednesday.

Varsities up tuition fees by 4% to 20% NUS, NTU, SMU to cushion effect with more financial aid and 'lock-in' system. -ST -->
TUITION fees at the three local universities will go up by between 4 per cent and 20 per cent for the new batch of undergraduates entering in August.
But to cushion their effect, all the varsities will introduce more financial help schemes, as well as a 'lock-in' fee structure first pioneered by the Singapore Management University (SMU), where students pay a set fee and will not be affected by future increases.




All of us probably can hang loose because school fees for the kids does not bother us as it is almost free from Primary school to College.

SMU course fee a year is about $7500 a year back.

With purchase of laptop as well. That cost slightly above $10,000 in total then to start first year in the University.

So you can imagine the Uni fees will be something most of us did not really bother, partly also because we can use our CPF as well. In the industry, people use to put an inflation of 6% on it, so the longer it is due, the fee will be higher in latter years. If you want to know how much it is, use a financial calculator and set the interest and term and compute the future value and you will know how much it will be.

Will you need a study loan? Some parents will think why let the kid start life with debt to pay after the Uni.

Start a savings plan early.

Gong Xi Fa Cai

This year is an exciting year for me.

It 's my 20th year representing Ntuc Income, and I happen to be borned in the year of the Rat.
May I take this opportunity to wish you and family, a blessed year ahead with much joy and health.

Think ! before you order your next fast food delivery

Experience counts. And young people just simply do not understand risk in their seeking for such fun.

My eldest daughter just passed her driving, and I will have her drive with me seating as passenger, and good thing my heart is still pretty strong otherwise I could end the trip with heart attack.

You can see that a new and young driver is not aware of speeding thrills but it kills. Their judgement is also poor, but many youngsters will dispute this once I stop writing.

The other point I feel very much to write about is young motorcyclist. The fatality of motorcyclist is very high and very young lives.

I ride a motorcycle myself and it is quite okie, but the way some drivers drive on the road is as if motorcyclist has no right to be on the road and of course on the other hand, some young riders are quite careless.

I wanted to discourage people from ordering fast food delivery as most are delivered by motorcyclist. When one rush on a motorcycle, it is very dangerous.

Can you sleep well if the poor delivery boy died while delivering your pizza or burger and he is someone's only child. Unless a proper safety is maintained, we should avoid ordering fast food delivery at the expense of a young life.

Singapore in Year 2010 - ERP network widened

take a look into the future .......... Don't laugh! It may happen!!

VivoLife

VivoLife is the next best life policy that offers you good coverage, with limited premium payment term.

There is a Triple Sums Assured in event of Accidental Death and a 6 months retrenchement waiver of premium.

This is the next most exciting policy available.

Current Limited Premium Living Policy will be taken off the shelf from 1stFebruary,2008

Happy New Year 2008

The year 2007 has gone into history as we stepped into year 2008.

2008 begin a new challenge for all of us as we move forward leaving behind the past.

Insurance agent's existence is based on meeting the sales target annually, well, at least I know I will still be around for year 2008 to work for my existence in 2009. I will always strive to remain in this business as far as I can. Your continue support and referrals will be helpful to me.

I may not be able to meet most of your service expectation, and will surely be lacking in service in some areas, thank you for bearing with me, and I do apologise for my lapse in service some time.

Should you need to look into any plans for the year, please do not hesitate to contact me.

Your referrals to me all these years have been helpful in helping me to meet my annual sales requirement.

May I take this opportunity to wish you and family, joy happiness and good health.

Review your Personal Accident Riders and H&S Riders

I met up with a friend who shown me his life policy taken 31 years ago.

The wholelife policy issued by Company A, has a RCC, a Personal Accident Rider with it.

He was insured $50,000 for accident death and partial disablement and premium is $117.50.

You may think this premium is cheap, but 31 years ago, he has been paying faithfully until today.

Some products are simply cheaper today and coverage is wider.

Ntuc Income Personal Accident Policy with $50,000 for accident death and partial disablement with $1000 medical included is only $35 per year in premium.

Click Personal Accident to take a look.

If you wish to cover 14 infectious disease to include SARS, Bird Flu, Dengue Fever, etc, click PAID

The other rider worth reviewing is Convertible Term and Term riders.

If you have a Hospital & Surgical Rider and has no existing illness now, it is also better to look at Enhanced Incomeshield Plans that covers one wholelife.

Click at the hyperlink and make a comparison.

Supplementary Retirement Scheme (SRS)

Time to contribute to SRS to save on income tax. Are you paying high income tax recent years? Why pay when you can save income tax by contributing to SRS?


As the year comes to an end, do not forget to make contibutions to SRS account before it is too late. If you need further details, you can go to Ministry of Finance website to read in more detail, click this link - SRS

The SRS is part of the Singapore government’s multi-pronged strategy to address the financial needs of a greying population, which were highlighted in the Report of the Inter-Ministerial Committee (IMC) on the Ageing Population, released in November 1999

The SRS complements the Central Provident Fund (CPF). CPF savings are meant to provide for housing and medical needs and for basic living needs after retirement. Unlike the CPF scheme, participation in SRS is voluntary. Participants can contribute a varying amount to SRS (subject to a cap) at their own discretion. The contributions may be used to purchase various investment instruments.

With the SRS, the government hopes to encourage Singaporeans to save more for their old age, by means of voluntary contributions to their SRS accounts.

The SRS offers attractive tax benefits. Contributions to SRS are eligible for tax relief, investment returns are accumulated tax-free(with the exception of Singapore dividends from which tax is deducted or deductible by the payer company under section 44 of the Income Tax Act) and only 50% of the withdrawals from SRS are taxable at retirement.

Pay Your Road Tax online - Why queue?

I just tried and paid my road tax online.

BUT FIRST, YOU NEED TO HAVE THE MOTOR INSURANCE ALREADY DONE. THIS WILL BE TRANSMITTED TO LTA ELECTRONICALLY WITHIN 3 WORKING DAYS ONCE DONE BY THE RESPECTIVE INSURER.

Most of us pays road tax half a year, and six months later has to pay it again, so if you have internet banking account, it makes it easier, simply go the LTA website at this link https://vrl.lta.gov.sg/lta/vrl/action/pubfunc?ID=RoadTaxEnquiry and follow the steps, and normal internet banking transaction starts with the relevant bank passwords needed.

Actually alot of transactions today can be done electronically in our technologically connected society.

Motor Insurance can be done for client without client moving out of their home, and road tax can also be done online as above.

You can contact me, and insurance can be done hassle free for you.

Those without internet banking account, of course, traditional way is still needful.

40 years of his Medisave wiped out in 3 months

40 years of his Medisave wiped out in 3 months

This was the headline as regard to a man who did not insure his daughter for medical insurance, and unfortunately ovarian cancer strikes and medical bills wiped out his medisave.

I have always cautioned and written about this, though it can be sensitive issue, but let's face it, Shield Plans are important, if a need arise.

My advice remains, do not procastinate, do not compare until it is too later.

Take ACTION !

I have placed many examples, actual bills in previous postings for your information. I believe in educating you with real life examples. Look at that one with bone marrow transplant for a boy.

The common notion as written in the report.

Case 1
He thought they didn't need it
'I don't know how I'm going to pay. This is my fault. It never occurred to me to buy my children health insurance. I didn't think they'd fall seriously ill.'
MR MOHAMMAD ABDULLAH, whose daughter Siti Aishah was diagnosed with ovarian cancer.

Case 2
They waited too long
'We were planning to get insurance for the children but always procrastinated. After our daughter's illness, we wasted no time buying health insurance for both our children.'
MOTHER OF A SEVEN-YEAR-OLD who contracted leukaemia

Off Peak or Weekend car insurance premium

There is a difference in term of motor insurance premium for off peak car or weekend car as compared to normal car.

A client referred his sister to me for a renewal, and I found out that she has been paying premium for her off peak car as per normal car.

This is not correct. I am now assisting to seek for refund for past years premium charged.

So if you do a motor insurance with your dealer, make sure it is what it is suppose to be.

In any case, there are still finer points to benefit from, for a properly done motor insurance plan with Ntuc Income.

Those with 30% and above should do the Drivo plan with "Plus" benefit as it cost only a few dollars more for courtesy car benefit which many do not know.

It is also useful to have NCD Protection added for those who enjoys 50% NCD to protect it.

Often, many use the car salesman who will insist that insurance must be done by them for first year, this is no more valid as anti-competition rule has set in, that car buyers should be able to choose the insurer they wish to insure with.

It make a difference to be serviced by a trained General Insurance agent, when motor insurance is concerned.

Contact your Ntuc Income agent, who will be able to help you better.

When should you buy/activate Travel Insurance?

Holiday season is coming and many will travel out for holiday. Most people effect the travel insurance a few days before they leave. Some call when they are in the plane about to take off.

Actually many do not realise in most Travel Insurance Plan, there is a clause covering Trip Cancellation/Curtailment expenses.

Basically, this means, in event of the circumstance arising in one having to cancel their trip and there is a lost of travel expenses, the policy will reimburse the lost.

Last month, my own uncle age 70, his son age 30+ contracted dengue fever and was hospitalised and he has to cancel his trip to Sarawak, and lost his travel expense of $600. He activated the travel insurance one week before the trip, and thus the lost was compensated by the insurance.

So my advice is, buy the travel insurance in advance once a trip is confirmed. Most insurer do have this curtailment clause to cover as well.

Click Travel Insurance for information linking to Income's travel insurance website.



TRIP CANCELLATION/CURTAILMENT EXPENSES INCLUDING HIJACKING

We will reimburse the non-refundable portion of all travel costs prepaid in advance including the travel

agent's cancellation fee should the journey for which this Insurance has been effected be cancelled or

curtailed because of any of the following reasons:

(a) Your death or death of your family members or travelling companion.

(b) Serious injury, sickness or disease suffered by you or your family members.

(c) The bankruptcy or insolvency of the travel agent or airline.

(d) The public conveyance in which you are travelling in is hijacked, and your journey is interrupted as a

direct result for at least 12 hours.

No payment shall be made for:

(a) expenses incurred after the cancellation or curtailment.

(b) loss arising directly or indirectly from your neglect, omission or failure to notify the travel agent/tour

operator or provider of transport or accommodation immediately when it is found necessary to cancel the

travel arrangement.

(c) that part of the Trip which had been undertaken up to the time of curtailment.

(d) that part of the Trip which will be paid or refunded by a travel agent or any other provider of travel and/or

accommodation (including hotels and airlines) or any other person.

Do not any how leave Motor Claims to workshops you are not familiar with

Do not any how leave claims to workshop that engages lawyers to claim against insurer.

It is better to consult the insurer in event of claims and use workshop refered by insurer, unless you are 100% sure of your own workshop contact.

Some time in event of an accident, we want to insist on our rights, if it is a small matter, it is better to let it rest and bite the bullet. Especially so when you meet a greater liar, who can write and turn the report from white to black.

Leave the liability to insurers to mitigate.

It is useful to have a plan with NCD protection ( for 50% NCD only ) clause and hang loose and let the insurer handle the liability part, if liability is not clear.

Many complain the inconvenience of IDAC, infact, that is the contact point for insurers that join IDAC, and is good, as all reports will be transmitted to insurer concerned when an accident is reported.

I would like to send my advice as follows again.
-------------------------------------------------------------------------------------

Thank you for insuring with Ntuc Income.

Just to keep you updated if I happen to be not able to respond promptly.

In case of any accident, first, stay COOL. Send car to the Independent
Accessment Center ( IDAC ).

If you are able to have the third party to sign a note of liability, by all means do it, if third party is at fault.

But if yourself is at fault, unless u are 100% sure and asked to do the
same, use your WISDOM.

Especially when case is 50-50, and third party is unreasonable, leave the
matter to Income and ask them to initiate claim action.

Following are few situations you may want to take note. Though in all
situations, we prefer that you leave the claim to NTUC Income to handle.

If it is third party at fault, we can refer our panel of workshop to assist you to claim against third party. Just send car to IDAC .

If you are at fault, proceed to IDAC by calling 67886616.

Summary

1. If it is your fault.
Your job is just to send the car IDAC for accident reporting and Income will refer a workshop to repair for you.Leave the claim to Income.Call our hotline 67886616 for assistance

2. If it is third party fault.
Again send car to IDAC and we will refer our panel workshop to assist in claim or you can find a workshop of your choice to file a third party claim for you.

3. Unsure of liability, meaning do not know who's fault it is.
Contact our hotline 67886616 and proceed to IDAC and leave the matter to Income to handle.

4. Met with unreasonable driver.
Sometime you may think that the matter is low in cost to settle and if it is your fault and wish to compensate third party.

IMPORTANT - PRIVATE SETTLEMENT, ask third party to sign the private settlement note provided to void you of liability and fax me a copy to be filed with Income,after both agree on private settlement. This is to prevent third party to bite back unscrupulously again later. With the agreement signed, Income will not entertain the claim.

For unreasonable, high demanding client, leave him to claim your insurance and inform Income of possible fraudulent claim, this you can send me an email and I will liaise with my claims officer and we will await third party claim. And if claim is inflated, we may need your assistance to dispute the claim by showing your photos of damage claims submitted.

Any other complication, please do not hesitate to contact me.

This is just some information as many were quite worried in such situation.In every situation, there is always a solution, so stay COOL and remember ME.

5. For third party claim against YOU, sometime a WRIT OF SUMMON is hand
delivered to your home as if third party is sueing you in court, DO NOT
PANIC, this is to be submitted to Income General Insurance Claims
Department, and we will engage our lawyer to handle if it is not your fault.Send such writ of summons to us and stay COOL.

Happy Driving.

I Not Stupid - III

I believe many have seen the show, I not stupid by Jack Neo.

We all laugh at the show and enjoyed it.

But in reality, we do have such real students who misbehave in schools and are a challenge to the teachers, even passionate and enthusiatic teachers will end up demoralised and gave up, with few of the more matured and experienced teachers, still able to handle these group of normal tech students, or N level students.

It is quite sad that some students are such tyrants in schools that they will challenge the teachers and do all kind of tricks. They will even tell the teacher "which of your eyes saw me do it?" that kind of question.

I also hear that Principals are so hand tied because parents are so protective, that corporal punishments are rarely carried out or even not approved by parents.

In our good old days, I believe many of us were caned in schools, and there is no need to have the parents' permission.

Time may have changed, but values should not be diluted.

If our children are punished, we have to support the teachers. It is better to err on the wrong side of disciplining than not to discipline.

CLAIM FORM FOR MEDISAVE-APPROVED INTEGRATED PLAN ( to be filled at any of the hospital's admission office )

( Click on the image to see the actual form )

Sign PMI form to claim Shield Plans in hospital

PMI means private medical insurance.

When a person is hospitalised, normally at the admission office, one need to fill in medisave authorisation form to deduct medisave and claim against Medishield.

If one has switch out to Private Shield Plans, like Enhanced Incomeshield, there is another form known as CLAIM FORM FOR MEDISAVE-APPROVED INTEGRATED PLAN.

This claim form is necessary, so that the claim can be settled between Insurer and Hospital.

When my mother was hospitalised at TTSH, I was told by admission staff that she will be there for a day, thus no need to fill in PMI Claim form.

This is not correct because if one has Shield Plan with Plus Rider, the form is necessary.

Whether a claim is within deductible or not, the admission staff should not decide because happen that my mother will be warded more than a day and I have to march into the admission office to sign the Claim Form again.

Many policyholders are not aware of this and end up having claims delayed.

Such is not fault of insurer but the efficiency of hospital staff, and with turn over, new staff may not be well trained to know this as well.

I hope MOH will take note of such problem.

The form required is as posted, if you click on the image you will see the form.

Good Public Spirit

This morning at 10.15 am, I received a call from a lady informing me that my mother has fallen in Fu Lu Shou Complex.

I was worried and ask her to let me speak to my mother and she passed her mobile phone to her for me to speak to my mother. I hear that she was quite weak and speech slur. I feared for the worst, asked the lady to do me a favour to call an ambulance to send her to hospital for me and to call me back where she will be sent to.

I must thank this lady whose public spirit has helped me to send my mother to hospital on time to be given the treatment for her low sugar level and hypertension. She is a diabetes patient.

When I reach the scene ambulance was already gone, so I called 995 to trace and was able to trace to rush to TTSH and found her there well and recovering.

In TTSH emergency ward, she was stabilised quite fast and attended to by the doctor to be warded for observation. The hospital could trace her condition quite fast, as I suppose there is a central data for extracting.

We should all be thankful that Singapore has such excellent emergency service and kind people around.
_____________________________________________________________________________________

We thought we should laminate a piece of contact card for her, because she told us thank God she could remember home number in her dazed condition.

My siblings asked what if the kidnapper or crooks got hold of the contact card and demand ramson, our common stand is ask the kidnapper to keep her and we will deliver the ramson too..... ; )

It was really a very eventful day, with all this and earth quake tremors thrown in yesterday.

Hi,
I am back, with bad food poisoning after eating a tray of seafood. Well, hygiene back in Singapore is still the best.

Away in Bali - 6th to 9th Sept 2007

Hi,
I am on leave.

Any urgent matter, call my mobile and my colleague will attend to you.

What type of Annuity is better?

Annuity is a hot topic lately.

1. One should consider to use their CPF Minimum Sum to do the Annuity Plan.

2. If one has spare cash, one should use spare cash to do the Annuity and leave the
CPF Minimum Sum for draw down. This is good for those who are cash rich.

3. I hope the government will exempt those from compulsory annuity, if one has taken
up at least a cash annuity or Annuity using the CPF Minimum Sum.

Ntuc Income Annuity is a participating Annuity Plan and it offers better pay out. You can read this from the report in Straits Times, of the couple, whose husband gave up the Annuity and regretted, but his wife's annuity with Ntuc Income have given her very good payout to date. A comparison of the annuity plans of various companies appeared in the papers some time back as well, as pasted below.

Are you prepared for Uni fees?

I am not about to introduce you to an insurance plan, but to share with you the reality of education cost.

All of us probably can hang loose because school fees for the kids does not bother us as it is almost free from Primary school to College.

Yesterday when I checked my bank account, and noticed almost $4000 less.

Checked the detail, there is a $3878 deducted for my daughter's SMU fees, well, I was not told in advance by her, she forgotten to tell me. Anyway, I am also expecting it myself.

SMU course fee a year is about $7500, and I suppose with 7% GST, deducted in 2 terms.

Last year was her first year, aside from course fee, purchase of laptop as well. That cost slightly above $10,000 in total then.

So you can imagine the Uni fees will be something most of us did not really bother, partly also because we can use our CPF as well. In the industry, people use to put an inflation of 6% on it, so the longer it is due, the fee will be even higher in latter years. If you want to know how much it is, use a financial calculator and set the interest and term and compute the future value and you will know how much it will be.

Some will calculate and think use cash is better because CPF interest is higher, so hang loose with that and use cash. And some parents will think why let the kid start life with debt to pay after the Uni.

Whichever way, what I am trying to share is beware of such cost as most of our children are marching towards University, before you realise it.

Accident Claim procedures

(one of my client got a Writ of Summon, and freak out, so I thought I will write this to advise that Writ of Summon is quite common and normal claims legal procedure)

You can also click on Motor Claims linking to Ntuc Income's website on claims Information, other than my personal advice as follows.

Thank you for insuring with Ntuc Income.

Just to keep you updated if I happen to be not able to respond promptly.

In case of an accident, first, stay COOL. Send car to the Independent Accessment Centre ( IDAC ).

If you are able to have the third party to sign a note of liability, by all means do it, if third party is at fault.

But if yourself is at fault, unless u are 100% sure and asked to do the
same, use your WISDOM.

Especially when case is 50-50, and third party is unreasonable, leave the
matter to Income and ask them to initiate claim action.

Following are few situations you may want to take note. Though in all
situations, we prefer that you leave the claim to NTUC Income to handle.

If it is third party at fault, we can refer our panel of workshop to assist you to claim against third party. Just send car to IDAC .

If you are at fault, proceed to IDAC by calling 67886616. Call for free towing if needed.

Summary

1. If it is your fault.
Your job is just to send the car to IDAC for accident reporting and Income will refer a workshop to repair for you.Leave the claim to Income. Call our hotline 67886616 for assistance

2. If it is third party fault.
Again send car to IDAC and we will refer our panel workshop to assist in claim or you can find a workshop of your choice to file a third party claim for you.

3. Unsure of liability, meaning do not know who's fault it is.
Contact our hotline 67886616 and proceed to IDAC and leave the matter to Income to handle.

4. Met with unreasonable driver.
Sometime you may think that the matter is low in cost to settle and if it is your fault and wish to compensate third party.

IMPORTANT - PRIVATE SETTLEMENT, ask third party to sign the private settlement note provided to void you of liability and fax me a copy to be filed with Income,after both agree on private settlement. This is to prevent third party to bite back unscrupulously again later. With the agreement signed, Income will not entertain the claim.

For unreasonable, high demanding client, leave the other party to claim your insurance and inform Income of possible fraudulent claim, this you can send me an email and I will liaise with my claims officer and we will await third party claim. And if claim is inflated, we may need your assistance to dispute the claim by showing your photos of damage claims submitted.

Any other complication, please do not hesitate to contact me(for my clients only).

This are just some informations, as many were quite worried in such situation.In every situation, there is always a solution, so stay COOL and remember ME.

5. For third party claim against YOU, sometime a WRIT OF SUMMON is hand delivered to your home as if third party is sueing you in court, DO NOT PANIC, this is to be submitted to Income General Insurance Claims Department, and we will engage our lawyer to handle the case. Send such writ of summons to Ntuc Income within 7 days of receiving and stay COOL.

Happy Driving.

revosave - from Tan Kin Lian's blog

revosave Plan
Several visitors to my blog have criticised the Revosave plan introduced by NTUC Income. Their criticisms are:

* It offers a low return
* It is similar to another plan actively successfully by another insurer
* It is a way to give high commission to the agent

We have to recognise the following facts:

* Some people like this type of plan, that offers several features put together. This is why the other insurer was able to sell the product very successfully. Their customers appear to be willing to accept a lower return.
* The product from NTUC Income probably offer a better return compared to the competitor's product

Lesson:
1. If the customer likes this type of product feature, let them buy it from NTUC Income (instead of the other insurer).
2. If the customer wants a better return, they can buy an plain endowment or ILP.

revosave

Frankly, this is a good plan, if you need the flexibility for cash refund every year from year 2 onwards, as the coupon payment will be 120% of Sums assured, and on maturity, a bonus will be paid.

You can place the yearly cash back with Income at 3.5% until you need it. But if you do not intend to take it out, then a normal Endowment Plan will be better. Don't tell my boss, I say this.

If you are keen on Ideal Plan, but do not want to take too much risk, then this plan offers to invest in the Combined Fund with the annual cash back at BID PRICE for you annually. This is quite attractive and a special arrangement within this plan. Same, you can liquidate them any time too along the years or wait till maturity to carry on further.

Different plan will meet different needs. This savings plan offers flexibility for the yearly payout. If you place your money in bank, then it is better to invest in this plan for better yield.


Life is full of ups and downs. With revosave, we are here to catch you when you are down, but unlike others, we can lift you higher when you’re up.

It is simple really. We prepare you for a rainy day with insurance and savings. And when the sun comes out and you are ready to indulge, we will be there with Cash Benefits to give your life an added shine.

But why stop there? Go ahead and work your money a little harder with our investment-linked funds to earn even greater returns.

revosave is the perfect solution for you, because you do not just want the most out of your money, but also the most out of life.

Maximise your savings for that rainy day
With revosave, your very affordable monthly premium earns an attractive potential return of 3.7% per annum, so you are better prepared when the going gets tough.

This attractive 3.7% annual return is based upon a male, aged 30, with a term period of 21 years and paying a monthly premium of $205.30. His sum assured will be $30,000 and projected return is $76,050.

Cash benefits for whatever, whenever
Starting from the end of your second policy anniversary (or the 25th month), you will receive a guaranteed Cash Benefit at 5% of the sum assured. This is payable at each policy anniversary, up to 120% of the sum assured for the entire policy term.

In other words, a 21-year policy with sum assured of $30,000 will give you an annual 5% ($1,500) fixed return for 19 years (5% x 19 years = 95% sum assured). We will make up the balance of 25% ($7,500) so you will always receive 120% of the sum assured.

Now you can afford to indulge, whether it is an exotic safari holiday in Africa or a luxury timepiece.

Grow your returns with investments
If you would like a shot at higher returns, revosave offers even more flexibility with the option to invest your Cash Benefits in our Combined Funds. Managed by top fund managers worldwide, our Funds hold an excellent track record, with average returns of 10.9% per annum since inception (source: NTUC Income Fund Factsheet for the financial year ended 31 December 2006).

As a revosave policyholder, you will also get to enjoy a waiver of any sales charge or policy fee for your Investment-Linked account.

Peace of mind with comprehensive coverage
revosave's insurance coverage provides death as well as permanent & total disability benefits. For greater peace of mind, supplementary benefit riders are available with revosave.

Savings, investments, protection and the flexibility to manage these as you please, that's revosave - so you can enjoy everything your money can do.

Revosave - Hybrid Plan ?

Changes to CPF

Wow.....more good deals coming?

The once off bonus to delay payment to beyond age 62, will also affect people's consideration for Annuity.

Many are hesitant with the current 4% interest and now with once off bonus and the additional 1% above current rate capped at $60,000 more will be hesitant to place their minimum sum from age 55.

Those who are richer, will hold on to age beyond 62 for the bonus and additional 1%.

I believe all insurers will go back to their drawing board to see how they can work to counter all these to make Annuity attractive?

Ntuc Income Annuity Plan has best potential as reported in papers on 18th August 2007

As in the comparison chart ( click on image for better details ), Ntuc Income is the market leader in Annuity.

You can also see the comparison in Dr Money website.

Below are link to CPF Annuity and Cash Annuity

1. CPF Classic Annuity

2, Guaranteed Life Annuity

The life annuity is the only financial instrument that guarantees you an income for a lifetime. The annuitant is assured of income even if you live up to a ripe old age of 100 or more!

Shield Plan is Important & the wise will take Annuity

2 issues that I would like to share with you which the ministers said are important.

Incomeshield
Health minister will make it compulsory for child borned to have medishield plan unless opt out, and to encourage one to upgrade to PMI, private medical insurance which are the Shield Plans if one desires better care than B2 ward restructured hospital care.

I have always champion for this, that any shield plan one favours, please do it. I have written this in my blog. And do it for all family members.

Last Sunday, Sunday Times compared all the Shield Plans, insurers are basically trying to capture market shares as the insurers compete against each other. My advice is Incomeshield, having the largest base will be more stable. But again, go along with the insurer you are comfortable with and do not wait for things to happen.

I have always been emphasizing that Shield Plan is the primary necessity of all in life.

Annuity
Annuity is one plan, like a pension, you transfer the CPF retirement Minimum sum to insurer and at age 62 you are paid about $600 and it will increase with bonus as it goes, so in the long run, it can pay more than $700 a month and even higher. You can also do this with lump sum cash, other than CPF fund.

Ntuc Income's Classic Annuity is participating, and bonus will be paid and annuity payment will increase.

If you go to an independent website call Dr Money at http://www.askdrmoney.com/Ins_Annuities.htm he compares all the Annuity Plans against CPF draw down. Click on his website for other interesting comparisons as well at http://www.askdrmoney.com/

CPF draw down is likely to exhaust in 20 years, but Annuity pays so long as you live, lifetime income. Some of your senior relatives who have such annuities are drawing the annuity payment now, especially those with Ntuc Income annuity plans, you may want to check with them. Earlier batch had quite good bonus by now and good annuity payments.

Income's Annuity Plan (click on this link for more info to Income website ) in event of pre-matured death, balance with bonus declared, minus draw down will be paid to beneficiary. This is a win win kind of plan in event of pre-mature death before principle is exhausted.

Annuity plan is available by cash or with CPF Fund.

Get a headstart in securing your child's future

Are you planning to save up for your child's future education fee?

Today, tertiary education fees is about $7000 per year, and most tertiary students will need to get a notebook computer as a start which may need another $2000 and books.

First year will cost about $10,000 and we are talking about local university.

Are we prepared to fund the child's tertiary education then, with inflation and increase in course fees, it will be higher forward.

Ntuc Income has introduced a new PayMy'Uni' which is basically a savings plan but with flexibility on the last 3 years, as payout is spread over 3 years for the kid's education or lump sum if one chose to, so there are two options.

It is important to maximise your child’s potential. PayMy‘Uni’ gives you a head start in planning for your child’s tertiary education, with added insurance cover and hospitalisation benefits.

High investment yield to grow your savings

By putting aside a regular amount monthly, you will see your savings grow to a significant amount to meet the rising cost of education.

PayMy‘Uni’ helps you build sufficient funds for the education that your child deserves.

Flexible payouts

Unique to this plan, the payouts can be spread over the duration of the tertiary education, covering yearly fees and expenses.

Best of all, the payouts are available in 3 convenient parts. The steady stream of funds can coincide with the years of study to cover ongoing school fees and other expenses.

2 years before maturity of policy: 40% of sum assured

1 year before maturity of policy: 40% of sum assured

Upon maturity of policy: 20% of sum assured
(plus accumulated bonuses).

Waiver of Premium and more

At NTUC Income, we understand that even as parents plan for a bright future for their children, sometimes the unforeseen can happen. To provide for such circumstances, PayMy‘Uni’ offers comprehensive insurance cover and hospitalisation benefits.

Waiver of all future premiums in the event of death, or total and permanent total disability of parent.

Payment for each day of hospitalisation and medical leave following discharge from hospital of child.

Payment of full sum assured plus accumulated bonus upon death, total and permanent total disability, or diagnosis of terminal illness of child
Convenience for future policy purchases

Upon maturity of PayMy‘Uni’, your child can continue to enjoy the assurance without hassle - your child can purchase another whole life or endowment policy with no underwriting. The sum assured can be up to 3 times the original sum assured.

A term with good timing

You can choose the length of coverage (from 8 to 24 years) to coincide the maturity of the policy with the final year of university, so as to take advantage of lower monthly premium and higher yield.

Important to cover the Deductible and Co-insurance gap

All Shield Plans has Deductible and Co-insurance, one should understand the impact of these and takes up appropriate rider to cover the gap.

For those who may have employer medicable benefit, they may not think this is necessary, but if sixth sense tells you some illness is befalling, please consider to have such rider in place.

Incomeshield Plus Rider is one such rider, for Incomeshield Plan.

Other insurers have their own rider plan to be offered as well.

My advice is to cover the gap.

The following 3 actual case study of Enhanced Incomeshield Plan Basic

Many have Basic Medishield (click this link to have a better understanding), Incomeshield, or other insurer's PMI ( Private Medical Insurance, hospital & surgical plan paid with medisave )

Many also confuse themselves between Medisave and Medishield. Click the respective link to have a better understanding.

Problem arises normally when one has no clear understanding of the features or term and condition of the plan.

What is the Plan Type that is appropriate?
Example - is the plan covering B1, A ward care of restructured hospital or Private Hospital care.

A clear understanding of the plan type and need is important, DEDUCTIBLE AND CO-INSURANCE is to be understood in event of claim.

Following are 3 actually cases, that result is good, fair and bad claim payments, mainly because insured fail to know their needs and take a plan to meet their needs appropriately ( case 3 ).If you double click on the bill image, it will give you the details.

Case 1 - Take Plan Basic but stays in B2 ward, thus plan covers well

Case 2 - Plan Basic cushion off operation needed in private hospital ( because restructured hospital doctor told him they could not operate on him as it is beyond cure, but private surgeon could do it )

Case 3 - Inappropriate Plan Basic taken and insured chose to go to private hospital for operation.

1. Plan Basic that pays for a long stay in KKH

(Double Click on the bill image to get full details of the bill)
This is a case of 44 days stay in KKH hospital for a bone marrow tranplant procedure.

The whole bill of $20,848 was cushioned off and policyholders pays only $2377.42

The Deductible is cumulative over the policy year, and it has been taken care of in earlier hospital bill.

So in event of large bill, and insured that stays in lower ward or the ward of the plan, will be covered well by the Shield Plan.

2.Plan Basic can cushion high bill

(Double Click on the bill image to get full details of the bill)

This bill is an operation due to a traffic accident done at Gleneagles and was insured with Enhanced Incomeshield Plan Basic.

Total operation cost $21,551.48 and Incomeshield Plan Basic pays $7898.17 ( after minusing Deductible $2000 and 10% co-insurance from $10,775.74 )

For large bills, it can cushion off quite a sum.

This policyholder has another H&S plan that pays about $3000.

3.Impact of inappropriate Shield Plan for Private Hospital care

(Double Click on the bill image to get full details of the bill)

I have a client who have an Enhanced Incomeshield Plan Basic but went for a hysterectomy operation at Gleneagles.

Without Plus Rider, the Deductible and Co-insurance will impact on such bill.

My intention to write about this is to let you know that if you did not take the right plan for the right medical care, the bill to be settled can be disappointing.

Whole operation and stay in hospital in Gleneages cost $5001.64

Pro-ration for staying in Private Hospital for Plan Basic is 50%, meaning all items will be computed as 50% of bill.

So the bill is taken as $2500.82.

Plan B Deductible = $2000

Balance = $500.82, 10% co-insurance for this = $50.08

This Incomeshield pays $450.74 for this claim.

If Policyholder has the Incomeshield Plus Rider, the claim will be $2500.82

I would encourage most to take the Incomeshield Plus Rider to make the plan cover the Deductible and Co-insurance if one has no other coverage.

In this case, she has another H&S plan which will pay the bill.

For such private hospital care, it is best to have Plan Prefered with Plus Rider in place to make it a fully paid plan. If this is in placed, the full $5001.64 will be fully paid plus pre & post hospital bills.

No minimum pay needed for new credit card

A RADICALLY new type of credit card with no minimum income requirement and just $500 in credit has arrived in Singapore.

Is this radical or ridiculous?

The Straits Times cartoon depict something that is real and can be quite an issue as students start to live on credit and interest roll over.

Should this be encouraged? Will holding such a credit card be then a trend among the students?

I hope the authority and MOE will look into this.

Should we start to allow our children to start living on credit at such a young age?

Can you afford to stay too low a ward to be given proper care in restructured hospital?

My brother unfortunately, last year had a motor accident and sent to Alexandra Hospital and warded in C ward.

After some weeks was discharged. He went through theraphy but still was in pain.

We thought he was pretending and did not pay attention to him.

Alexandra Hospital doctor told him, his injury cannot be operated on.

After one year of pain, he sought an Orthopaedic surgeon in Gleneagles.

The surgeon discover the injury was actually more than what Alexandra Hospital found.

He had another fracture not discovered and that caused the pain for so long.

He under went the operation and cost $21,000 plus as in earlier posting on the bills.

Is C ward patient so lightly treated, because the patient is seen as poor?

I am quite surprised that AH doctor told him, he cannot be operated on, but when refered to private hospital, more injury was found and he could be operated on.

Is this a lapse on Alexandra Hospital doctor? Or is it because he is a C ward patient?

After the operation, his pain ceased and he could raise the two arms which was not able to be raised before operation at Gleneagles and AH doctor told him his condition cannot be operated on then.

Is this skill of surgeon or money talks?

How an Enhanced Incomeshield Plan Basic cushion off a 44 days treatment for Bone Marrow Transplant procedure in a KKH B2 ward, without Plus Rider

I have sought the permission of client to show how an Enhanced Incomeshield Plan Basic will cushion off big bills involved in treatment of a bone marrow transplant case. The bills shown are the hospital stay, post hospitalisation and pre covers 90 days in separate bills settled.

The plan cushion off more than $20,000 for this parent who are thankful they had the plan in place. The boy is now on way to full recovery as the bone marrow transplanted has been engrafted and accepted well.

To see the bills in detail, click on the image and the page will appear in detail.

The total bill shows it to be $57632.75 before government grant.After government grant, total bill come to $20848.10.

He was warded in B2 Ward.

Deductible has been taken care of in earlier stay.

So basically the parent pays about 10% co-insurance and rest are paid by Enhanced Incomeshield Plan. About $18470.

I am of the view that whichever company you trust, just take up their Shield Plan, such H&S plan is essential in life. This is a necessary life time back up.

INCOMESHIELD LATERAL UPGRADE - without underwriting ending 31st July 2007

Please take a few minutes to consider this info which is of importance and is URGENT.
Enhanced Incomeshield is an "AS CHARGED" plan, as compared to older Incomeshield Plan.

But one need to take appropriate plan for appropriate type of hospitalisation need.

New Plan Old Plan
1. Plan Prefered 1. Plan P
2. Plan Advantage 2. Plan A
3. Plan Basic 3. Plan B

1. Plan Preferd and Plan P are for Private hospital care
2. Plan Advatange and Plan A are for restructure hospital A ward care
3. Plan Basic and Plan B are for B ward restructure hospital B1 ward care

Currently, some of you have converted to the new "AS CHARGED" Plan, you do not need to take action.

Those who have not converted to the "As Charged" Plan may want to consider.

Until end of the month, 31st July 2007, which is less than a month away, if you cross lateral from , example Plan B to Plan Basic , Plan A to Plan Advantage, Plan P to Plan Prefered, there will be no underwriting, meaning it will be crossed over.

From 1st August 2007, unless otherwise advised, any change of plan will be underwritten.

But if you up wish to upgrade to higher plan, normal underwriting is still necessary, meaning health questionaires will be given.

If one is healthy, no issue to upgrade any time, but if you start to have Hypertension, Diabetes and any existing illness now, my advice is to switch over to "As charged" plan if you wish to, because until end of the month there is no underwriting.

Enhanced Incomeshield

Some one asked me why I think Enhanced Incomeshield Plan is the best.

I said before,any Shield, because it is no point to compare and contrast until it is too late. There wouldn't be too much of a difference between all Shield Plans except that the premium may be lower and a little bit of benefit one company has and the other company does not have.And lately, interpretation of "existing illness" has caused many to be concern.

Well, I also said Shield Plans are all important, take any plan that one is comfortable with, be it with Great Eastern, Ntuc Income, AIA, Aviva, etc.

As long as one has a Shield Plan, it meets the basic needs.

I am comfortable with Incomeshield because I represent Ntuc Income and I have clients who were well covered by this plan, example a 3 year old boy undergone Bone Marrow transplant at KKH under Plan Basic last May 2006, and bill comes to almost $50,000 and is mostly paid for, after deducting the Deductible and Co-insurance payment.

My own brother just went for an operation at a private hospital with Plan Basic and is covered 50%.

One has to basically know that it is not one size fit all plan.

One need to take the appropriate plan for appropriate type of hospital and ward type one choose to use when hospitalised.

Example a client took Plan Basic that covers B1 ward equivalent but used Private Hospital, the plan will not cover the bill well.

Many people do not understand Deductible and the Co-insurance of the plan as well.

1.Incomeshield has Plan P, A and B
2.Enhanced Incomeshield Plan Prefered, Advantage and Basic
3.Incomeshield Plan MA and Plan MB

Above are links to the 3 types of Incomeshield Plans.

This is the least that one can have and if one wish to have better hospital ward beyond B2 care, then one need to upgrade to PMI

Withdrawal age of CPF minimum sum may be raised to 65

There is a saying, money is not everything but everything is money.

I may not live to age 65, but at least I know how I will fare before age 65 if I plan. The time line chart I posted earlier will now be useful to plot the retirement path.

Time to re-look at retirement needs.

Limited Payment Living Policy - covers wholelife with only 20 years premium or pay premium up to age 64

Ntuc Income has just soft launched a NEW limited payment premium Living Policy on Jan 2007.

One can choose to pay premium for 20 years or up to age 64 and policy will continue to cover wholelife without further premiums to be paid.

Many realise the reality of covering the 30 critical illness when one reach latter years. Some realise the importance of such policy after a family member or friend contracted the disease, eg, heart attack, cancer, stroke, etc.

You can read the term and condition of cover for the Limited Payment Living Policy by clicking the link to LPLP.

For young children

This LPLP policy is good for the young child. Why? Let me explain.

Many parents today like to start insurance coverage early for their children to hand over the policy to them when they reached their adulthood and thinking that premium is low when taken up at young age, yes true.

This 20 years Limited Premium Living Policy, when the baby reached adulthood, premium is FULLY paid, and policy will continue to cover the child wholelife without having to pay premiums after 20 years.

This is as good as letting the insurer carry the baby.

The child will also be thankful that the parent did not hand over a burden for him to continue to pay insurance premium after 20 years. This grown up child will enjoy wholelife coverage thanking the parents for having started it for them.

Young working adults may also want to consider this plan as it is limited payment covering wholelife. Refer to the link to Limited Premium Living Policy

I have promised to write on the Settlement of my brother's accident operation - his plan is an Enhanced Incomeshield Plan Basic without Plus Rider

I have always felt that Incomeshield or any Shield Plan is an essential basic need for everyone, including child.

Last year, my brother was involved in a motor accident, he had fractured collar bones and was in pain for a year. Restructured hospital doctor told him they are not able to operate on him.

Last month, he found out a private orthopaedic surgeon in Gleneagles who is able to operate to correct the bones for him,

He underwent the 4 surgical operating procedures as in the attached bill (click on it to see the detail and the total cost is $21,551.48.

As his Incomeshield is the Enhanced Incomeshield Plan Basic, there is a pro-ration factor of 50%.

Thus the bill is computed to be $10,775.74 to be paid.

Deductible for Plan Basic is $2000, thus minus $2000 = $8775.74

There is a Co-insurance ( 10% ) = $877.57.

After minusing Deductible and Co-insurance , Incomeshield Plan Basic paid $7898.17

I have done another small H&S plan then to cover the deductible and co-insurance, in earlier days, the Incomeshield Plus Rider is not available. This plan will reimburse another $2410.

If Incomeshield Plus Rider is inforce, the plan should pay in total $10,775.74.

My intention to highlight this real case study is to share with you, that in event of big medical bill, Incomeshield or any private medical shield will be helpful.

If he has Plan Prefered, the bill will be covered more substantially.

My advice is still have a Shield Plan, and have one is better than nothing.

His civil case is pending court settlement, as I have engaged a lawyer to sue the taxi driver who hit him.

Bear a thought for the life of motorcylist

What has happened to road safety in Singapore today?

It is sad to read of the father and daughter on motorcycle, died in accident last Saturday.

Is there attitude problem in driving or has more drivers been having poor judgement on the road?

It is sickening to know that there are some motorists who simply should not be driving at all.

1. Motorist today has poor lane discipline, resulting in many not keeping safety distance between cars.

2. There are many who imagine they are grand prix driver tailing even a car that is moving on at 90km/h.

3. In merging lane condition, such motorist must be ahead.

4. Motorist when tailing behind motorcyclist, will not bother about the speedometer, until they overtook motorcyclist.

5. Motorist who cannot even allow motorcylist riding on lane 4 (extreme left lane) of highway and attempt to over take by the left, squeezing between road shoulder and lane 4 of motorcylist.

.....etc.

There are many other scenarios. In wet weather condition, motorcyclist is even more exposed.

Please be patience and bear a thought for motorcyclist.

Give motorcyclist space to manoeuvre.

Treat that motorcyclist as one of your friend or even your relative.

Insurance will pay for the mistake of a driver,but it will never bring back the life of victim and the lost to their family.

Let's please drive with loving kindness, bearing a thought for the family of each other.

Best Kept Secret

Free Ntuc Fairprice Vouchers promotion for Growth Policy ending on 30th June 2007.

You may use cash, CPF or SRS for the plan.

$200 Fairprice Vouchers for $20,000 cash, placed in Growth Policy.

Maturity re-investment case, enjoys 20% more vouchers.

A client placed $100,000 maturity re-investment and is entitled to $1200 Ntuc Fairprice vouchers. Too good a deal to be missed. Promo up to 30th June 2007.

Hit & Run accident?

Few months back, I shared about a boy rushing across the road, and collide onto my motorcycle carriage box.

This is the first time I met with an injury accident, so to speak.

When the boy collided onto my carriage box, my reaction was his condition. I saw that his forehead was red, indicating he head onto my carriage box.

My concern is if he has head injury. This is a case of his mother rushing across the road with two children and did not hold on to this boy and he just rush ahead without observing traffic, following his mother, dashing across.

I need to do a judgement call, and decided that I have to call an ambulance, with knowledge that is will be a police case.

As long as there is injury, as a motorist, one has to go through the hassle of police investigation, I had gone through that.

But I had peace of mind that I followed correct procedure. So in event of such injury case, call ambulance, and then contact police to send a traffic police officer to clear the case at scene.

I am thankful I had an eye witness willing to give statement on site.

I was requested to report to traffic police headquarter to meet up with investigating officer then, which I did after being cleared from scene.

My experience with this accident is valuable to me.

So my advice is if there is injury case, do not move off, call police to scene to clear accident instead of driving off.

This case the mother concern did not want me to call ambulance and want to move on, but I insist for the child's injury to be looked at and called ambulance.

Moral of my sharing is, if there is injury, lots of hassle, but report accordingly for peace of mind.

In event of injury in motor accident - engage a lawyer

My brother was hit by a taxi while riding his scooter on the road last year.

Then, I thought matter is simple and called the taxi insurer (Not NTUC INCOME)to enquire if they wish to do direct settlement.

As I do not get a reply, I decided to engage a lawyer to handle the claim and good thing I did.

In event of injury case, it is best to engage a lawyer.

It is advisable to look for lawyer who specialise in such accident injury claim.

I was refered to 3 lawyer firms by Ntuc Income and I engaged one of them and so far the case is successful against taxi driver, though the taxi driver reported otherwise.

The case is now pending settlement against taxi insurer.

Review Your Old Policy Riders

I met up with a friend who shown me his life policy taken 31 years ago.

The wholelife policy issued by Company A, has a RCC, a Personal Accident Rider with it.

He was insured $50,000 for accident death and partial disablement and premium is $117.50.

You may think this premium is cheap, but 31 years ago, he has been paying faithfully until today.

Some products are simply cheaper today and coverage is wider.

Ntuc Income Personal Accident Policy with $50,000 for accident death and partial disablement with $1000 medical included is only $35 per year in premium.

Click Personal Accident to take a look.

If you wish to cover 14 infectious disease to include SARS, Bird Flu, Dengue Fever, etc, click PAID

The other rider worth reviewing is Convertible Term and Term riders.

If you have a Hospital & Surgical Rider and has no existing illness now, it is also better to look at Enhanced Incomeshield Plans that covers one wholelife.

Click at the hyperlink and make a comparison.

NTUC Income Announces Bonus Of $754m

Releases actual yields on life insurance plans.

Actual yields from policies taken 10-30 years ago.

SINGAPORE, Friday, 13 April 2007 -- NTUC Income has declared a bonus of $754 million in sum assured amount1 ($309 million in value2) to customers with participating life policies. NTUC Income's 755,000 participating policies will enjoy these bonuses. Of the $754 million, $110 million are due to improvements in bonus scale compared to the previous year.

Breaking from industry tradition, Income has gone transparent by disclosing actual yields for typical policies taken out 10 to 30 years ago, and maturing or being cashed out in 2007.

Said Mr Tan Suee Chieh, NTUC Income’s Chief Executive, "In October 2006, we were the first insurer to publish actual returns on our endowment policies that matured. Today, we increase our level of transparency by disclosing what whole life policyholders will get if they cash out their policies. Actual returns or yields to policyholders are easily computed and widely understood, but not widely published. We believe that setting high standards of transparency will help our customers understand the excellent value they get from investing with NTUC Income.

Our customers can continue to expect transparent and meaningful communication from us on bonuses and policy returns."

Report Accident with Integrity and let Insurer take care of Liability

I have always advised my clients to report the facts of an accident.

Report with integrity and let the insurer take care of the liability.

Some motorist simply has no conscience in reporting or even are rude and unreasonable during an accident.

In such case, just report accordingly and leave the liability to insurer to handle, there is no need to headache over the matter.

In some case, the other party is a professional liar and could win the case, no choice, in life we meet some of such devil.

Just bear the injustice.

Drive with Loving Kindness

One of my recent encounter
On 29th November,I rode my motorbike along ECP on lane 3 , and at a slip road from Marina South, I noticed a car coming out into lane four, in between a lorry and a van, and wanting to get into lane 3, where I was coming from, and I know such driver will not see me as I am in his blind spot.

I horned to sound a warning of my approaching, this ridiclous driver instead of not coming out, squeezed out and almost knocked me off. I believe he was agitated with my horning and purposely drove out.

As a matured rider, I know how to move more to the right and let him out and he sped off at high speed, thinking he has threatened me and able to speed off.

This rascal thought he could speed off and get away, but he was wrong because ahead at the Rochor exit then, it was a massive jam across all lanes. I rode to his front and was fuming that this crazy fella nearly knocked me off.

He is a middle age skinny man, wanted to pull him out of his car and whack him, he would have no chance. I wanted to take my helmet off, whack his car and get him out and whack him off, but I knew too much that I will be charged if I do it, as a road rage instead.

I can imagine why some motorist fight and got charged in court.

The law will make me a criminal instead if I whacked him for nearly killing me.

I have wanted to make a police report, but what will the police do?

This could be almost everyday happening on the road.

Some motorcyclists died in an accident probably because of such rascals.

Insurance will pay for the accident, but will never bring back the live of the victim. Such driver may live with a shadow but some simply do not have a conscience.

How does Enhanced Incomeshield Basic cover my brother's operation at Private Hospital?

My brother undergone operation to correct the two sides of collar bone at Gleneagles Hospital.

Hospital charged about $6000 plus and surgeon's fee is about $11,000.

I am awaiting for the final bill and will make this a case study on how the Enhanced Incomeshield Basic cover this operation.

There is a pro-ration factor of 50%, which means Enhanced Incomeshield Plan Basic will cover half the bills of private hospital bill.

I think the plan should cushion the impact of this bill.

Involved in accident - Report with integrity

I just visited my brother in hospital.

He was involved in a motor accident with a taxi.

A taxi came from a minor road and collided onto my brother's scooter.

It has been a year and he suffer permanent collar bone dislocation which government hospital told him cannot be operated on.

He sought the doctor at Gleneages and is due to be operated on today as the private orthopaedic surgeon examined him and is confident to correct his injury that will cost $20,000 to operate on. His bill will be cushion off by Enhanced Incomeshield and claim against the taxi's insurer.

The taxi driver in his report, reported that my brother sped and hit his taxi.

I cannot imagine there are such people who injured some one and dare report otherwise. Of course the police investigator is not stupid to believe him and he was found guilty.

I have engaged a lawyer to help him to claim against the taxi driver.

I cannot imagine such fellow human who almost killed a motorcyclist dare make such a report.

So you can imagine, there are such human being exist who has no concern to be honest when an accident happens.

As a trained person, I have guided and handed the matter to the lawyer to settle.

Such case takes more than a year to settle,which is still in the process of settlement.

It is important to find lawyer who specialise in such claim. I was refered a lawyer in NTUC INCOME's panel and find this lawyer very good in handling this claim so far.

Plan with family in mind - a claim story

(I wrote this on April 2005)
One of my client is dying of 4th stage nasal cancer. I am not capitalising on this episode to tell you what to do.

In year 2000, I was refered to him because he has a daughter and wish to buy an Education Policy. My concern for such family will always be to check on the parents' coverage first. I asked him how well is he covered and he told me very well. I pressed him for an answer and he told me $30,000.

I advised him that he should look into his family needs and roughly told him that should anything happen and if his family depend on him for $20,000 a year, he has to be prepared for next 20 years for a cover of $400,000.

Refused to talk to him on Education Policy and find ways to up his coverage with his CPF and his budget from intended Education Policy.

He took my advice, and his coverage was improved to almost $200,000 with policies using his CPF as well.

One and half year later 2001, with another daughter borned, called me for education policy again.

His dread disease cover was low and my advice was to look at this cover first. Gave him another Living Policy with term rider.

2003, Feb, received a call from him that he contracted 3rd stage nasal cancer. Well, I have done my part with peace of mind. Back in my mind then was if he wanted another Education Policy? But I was shell shocked to hear the bad news.I submitted the claim for him and Income paid out the Living Policy, and the Term rider has a waiver for dread disease, thus no premium need to be paid further for the Term rider.

Paid him the two Living Policy, $50,000 term rider continue with waiver of premiums and other policies remain inforce.

Yesterday, the wife rang me to say he is critical in hospital. Two weeks ago when I visited him, I saw his condition to be very bad and do not expect him to past beyond this year. I just message that I want to vist and his wife repled "I've brgt him bk 2 die @home.he wanted 2 come home."
It is sad but that is the reality of life.

We plan what we can appropriately, so that our family will not go through financial hardship though emotionally, it is painful.

End of the day, we all wish we live to complete our family obligation without having to depend on insurance payout, but when things happened, what we plan for, will at least cushion off some financial worries.

Look into our NEEDS and not our WANTS, as I have been saying this since 1988 when I stepped into this industry.

It is painful for my client's wife, but it is comforting what I have recommended and advised have been taken up and now they understand why I do not sell them what they want, Education Policy, but what they need.

He left behind his wife, and two young children age 3 & 5.

Sad story, but comfort is in that the family can move on without being caught in financial setback.

I took comfort in that the deceased client agreed with me in my recommendation because I am also a family man with a wife and three children. I appreciated him for his open mind to accept that family takes priority in insurance planning.

Stay with your existing servicing agent

Some of you came to my blog via Mr Tan Kin Lian's blog.

Thank you very much for reading my blog.

I stay committed to provide my clients the advice and service needed.

If you ask me for advice, I will give you a reply,but if you have an existing servicing agent, I would normally encourage you to stay with your agent.

I have received some email enquiry and I have given the answer, those I notice have an existing agent, I normally will refer them to their own agent, please do not be offended.

There is no regulation that one cannot seek other agent within same company, unless you have not been served well,I would normally prefer you stay with existing agent.

But for some reason, you wish to seek me, I would be happy to attend to you.

Why pay more? Pay only 20 years for a wholelife Living Policy

Ntuc Income has just soft launched a NEW limited payment premium Living Policy on Jan 2007.

One can choose to pay premium for 20 years or up to age 64 and policy will continue to cover wholelife without further premiums to be paid.

Many realise the reality of covering the 30 critical illness when one reach latter years. Some realise the importance of such policy after a family member or friend contracted the disease, eg, heart attack, cancer, stroke, etc.

You can read the term and condition of cover for the Limited Payment Living Policy by clicking the link to LPLP.

For young children

This LPLP policy is good for the young child. Why? Let me explain.

Many parents today like to start insurance coverage early for their children to hand over the policy to them when they reached their adulthood and thinking that premium is low when taken up at young age, yes true.

This 20 years Limited Premium Living Policy, when the baby reached adulthood, premium is FULLY paid, and policy will continue to cover the child wholelife without having to pay premiums after 20 years.

This is as good as letting the insurer carry the baby.

The child will also be thankful that the parent did not hand over a burden for him to continue to pay insurance premium after 20 years. This grown up child will enjoy wholelife coverage thanking the parents for having started it for them.

Young working adults may also want to consider this plan as it is limited payment covering wholelife. Refer to the link to Limited Premium Living Policy

In event of an Accident - Do not confront

Read the ST report of an incident between a taxi driver and a motorist today, ending with motorist having serious injury.

I ride a motorcycle and drives, and I am aware of how some arrogant people drives on the road.

As a matured person, we do not challenge them, younger person challenge them and ended up dead. I suspect some young motorcyclist challenged such motorist and ended dead, I have been young once (err...still not too old now ), and cocky young rider before. Thank God I survived to tell the story. Even as an older or rather matured person now, everyday I meet with arrogant driver. One that nearly knock me off the road last year.

In event of an accident, CAR REGISTRATION NUMBER is sufficient for reporting, so if the other party fail to co-operate, it is fine, take down car number and report, Insurer will trace them.

Let the insurer do the dirty job of fighting such accident dispute.

Do not confront, keep COOL !

Review your old policy RIDERS.

Review the Riders that is in your old policies.

Do you have riders known as ADB/RCC or Hospital & Surgical Riders?

Many of us have riders in our old policy that cost quite a hefty premium because it was taken when we were younger and from then premiums are not changed or rather along the way new products are introduced with better coverage and lower premiums?

Look especially at Accident Death Benefit rider, if you have one and compare a Personal Accident plan that covers other than accidental death, also partial disablement and medical expenses. You will be surprised.

A few types of riders you may want to take note of.

1. 5YRT - this is basically a 5 year convertible term that will have premiums changed every 5 years, at a point in time, the premiums will be high because of age, and many are not aware. Will a level Term premium be better and more cost effective for you? There are many new Term Plan that has low premium today, example, i-Term.

i-Term

2. ADB - Accidental Death Benefit, Personal Accident Plans today have wider scope of cover and much lower premium today.( one company issued the PA long ago, and premium is not cheap, though it may be monthly $15 or so for $30,000 Personal Accident and still inforce, but yearly $35 premium can get one a $50,000 PA policy with $1000 medical today with a few other insurers)

PA - Personal Accident Insurance
PAID - Personal Accident + Infectious Disease Plan

3. H&S - Hospital and Surgical Benefit - Shield Plans are much cheaper today and again scope of cover wider. And premium paid via Medisave.

New - Enhanced Incomeshield Plan

Ask yourself what are the riders for and do you need them? Many have bought policies much earlier in the 90's and file the document away have not really bothered about the riders.

I have personally reviewed with a few of my friends and there are some savings that one can derive from adjusting the riders.

But a few will not need adjustment, so very much depend on what riders you have.

Take a look and talk to your trusted agent or seek second opinion.

I think it is good to look into the few things mentioned above. I can only say I have reviewed with a few of my policyholders their other policies and this is what I can tell you, review the riders.

NTUC Income Policy offers better yield

Click on the brochure for better detail or link to Best Kept Secret.

You may want to click to this link for Better Bonus announced.

Time Line Planning - Leap frog forward

Have you ever plot your assets and insurance maturity along a time line to give yourself a picture of your financial standing forward? If you click on the above image, you will see the time line chart in better detail.

I have refined, the excel spreadsheet to include this couple's children's education needs. You will find that this couple has three teen children and one is now in University. If the other two children can survive the education, the projected year ahead will be the year the other two children enters university and their graduation years.

It is good to plan ahead to have insurance savings plans to leap frog ahead towards retirement. Ntuc Income has single premium endowment plan, Growth Policy, that gives good yield over the years. This couple also has investment linked funds and other insurance coverage as well, not shown in this time line.

You may want to click on this line for Growth Policy

Cactus Flower

Cactus Flower Full Bloom

The cactus flower blooms over midnight and is very beautiful. Share the joy.

Cactus Flower

The cactus flower has finally bloom from an ugly bud, and it is almost mid-night.

It is interesting to see how a small little bud, grow with ugly hairy stem.

Now it is blooming. Hope to catch it at its full bloom.

In event of an Accident - Do not confront

Read the ST report of an incident between a taxi driver and a motorist today, ending with motorist having serious injury.

I ride a motorcycle and drives, and I am aware of how some arrogant people drives on the road.

As a matured person, we do not challenge them, younger person challenge them and ended up dead. I suspect some young motorcyclist challenged such motorist and ended dead, I have been young once (err...still not too old now ), and cocky young rider before. Thank God I survived to tell the story. Even as an older or rather matured person now, everyday I meet with arrogant driver. One that nearly knock me off the road last year.

Whenever I switch lane, I will lead forward, whether in my car or riding my bike, to clear my blind spot. I am sure not many do this, except for the more careful and experienced drivers.

In event of an accident, CAR REGISTRATION NUMBER is sufficient for reporting, so if the other party fail to co-operate, it is fine, take down car number and report, Insurer will trace them.

Let the insurer do the dirty job of fighting such accident dispute.

Some time end of the day, the other party is so skillful in reporting, you still lost the case, it is okie. Just too bad, the crooks wins. This is why some people thought insurer pays for fun, it is actually skill of the other party's lies.

(For my client)
But for me, if you tell me the truth, I will handle for you with my claims officer. I am always here to resolve as much as I can for you, but I only ask you for one thing, report with integrity. I have assisted in cases where the insured is not very truthful in his reporting.

For the truthful once, I will go all out for you.

So in event of an accident, one must remain COOL, though it can be stressful.

Even if you lost the case, I will try to fight back the NCD for you with my office.

There is no need to confront the other party if that party do not co-operate, REMEMBER there is such thing known as MOTOR INSURANCE and ME !

I have written about what one should do in event of an accident, and I am copying it below this email again.

In event of an accident, some motorist will not want to admit fault, even
if they are at fault, as many do not want to lost their NCD. This is very
selfish and irresponsible.

My advice to my clients that in event of an accident, just take down the
vehicle number and report to IDAC and Ntuc Income will take over the
matter. If that party is willing to co-operate is good.

There is no need to wrestle with the other party if the other party do not
wish to co-operate to give their particulars, just take down car
registration number is enough to make a report at IDAC.

Who say IDAC is not good? This is GOOD.

Leave the liability contest to the insurer, especially when one meet with
unreasonable third party. Do not waste your breath over such people.

They can report the accident from BLACK to WHITE and WHITE to BLACK, this
is immaterial, Ntuc Income will stand by their policyholder to handle the
claim. If our insured is not at fault, Income will defend.

But I always tell my client to report accordingly and I will handle the
matter with my claims officer.

There is no necessity to risk one's life with a road rage.

Subject: Claim Procedure ( What I have written before )

Thank you for insuring with Ntuc Income.

Just to keep you updated if I happen to be not able to respond promptly.

In case of any accident, first, stay COOL. Send car to the Independent
Accessment Center ( IDAC ).

If you are able to have the third party to sign a note of liability, by all means do it, if third party is at fault.

But if yourself is at fault, unless u are 100% sure and asked to do the
same, use your WISDOM.

Especially when case is 50-50, and third party is unreasonable, leave the
matter to Income and ask them to initiate claim action.

Following are few situations you may want to take note. Though in all
situations, we prefer that you leave the claim to NTUC Income to handle.

If it is third party at fault, we can refer our panel of workshop to assist you to claim against third party. Just send car to IDAC .

If you are at fault, proceed to IDAC by calling 67886616.

Summary

1. If it is your fault.
Your job is just to send the car IDAC for accident reporting and Income will refer a workshop to repair for you.Leave the claim to Income.Call our hotline 67886616 for assistance

2. If it is third party fault.
Again send car to IDAC and we will refer our panel workshop to assist in claim or you can find a workshop of your choice to file a third party claim for you.

3. Unsure of liability, meaning do not know who's fault it is.
Contact our hotline 67886616 and proceed to IDAC and leave the matter to Income to handle.

4. Met with unreasonable driver.
Sometime you may think that the matter is low in cost to settle and if it is your fault and wish to compensate third party.

IMPORTANT - PRIVATE SETTLEMENT, ask third party to sign the private settlement note provided to void you of liability and fax me a copy to be filed with Income,after both agree on private settlement. This is to prevent third party to bite back unscrupulously again later. With the agreement signed, Income will not entertain the claim.

For unreasonable, high demanding client, leave him to claim your insurance and inform Income of possible fraudulent claim, this you can send me an email and I will liaise with my claims officer and we will await third party claim. And if claim is inflated, we may need your assistance to dispute the claim by showing your photos of damage claims submitted.

Any other complication, please do not hesitate to contact me.

This is just some information as many were quite worried in such situation.In every situation, there is always a solution, so stay COOL and remember ME.

5. For third party claim against YOU, sometime a WRIT OF SUMMON is hand
delivered to your home as if third party is sueing you in court, DO NOT
PANIC, this is to be submitted to Income General Insurance Claims
Department, and we will engage our lawyer to handle if it is not your fault.Send such writ of summons to us and stay COOL.

Happy Driving.

Cactus bud - interesting progress

Like I mentioned before, many of us see little small flowers on cactus being sold, those small flowers are big bluff. One of my cactus is budding and the flower will bloom during the night and fade off the next day.

I hope to catch it to share it with you. The bud stem is g