Have Been Busy
I apologise for not updating this blog as I have been busy over the past few months. Further to that, in order to focus and spend quality time on my existing cases, I will only be able to take on new clients on a case-by-case basis for the time being.
If you need my services, please use the contact form and briefly describe your personal profile and financial objectives so that I can better evaluate if I am able to assist you.
Thank you.
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Using Effect of Deductions to Measure Insurance Policies
“Effect of Deductions” is a column found in insurance policies with cash values. What exactly is “Effect of Deductions”? It can be summed up in an equation:
Value of Premium Paid – Total Cash Value = Effect of Deductions
TM Legacy Plus Revision
That was quick – mere weeks after Aviva launched its whole life policy, Tokio Marine has announced revisions to its flagship policy – TM Legacy Plus.
The biggest change would probably be the upgrade in the Minimum Benefit, or Minimum Protection Value, which I have touched on before. The MB factor used to be 2.5 for people 24 years and below, meaning a $100,000 policy will cover the person for $250,000. It was 2.0 for someone between 25 to 29, 1.8 between 30 – 34 and decreases for people in older age groups.
Unhealthy People and Insurance
I am in what I call “Underwriting Hell”.
Underwriting in the context of insurance refers to the process where insurers assess the risk of an individual applying to take up insurance cover by looking at his medical history and health condition. Unhealthy people will naturally complicate the process, leading to a lot of added paperwork, trouble and complexities.