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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.
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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.
Apple Co-Founder Steve Jobs Passes Away
Co-founder of Apple Inc, maker of the iconic Mac computers, iPod, iPhone and iPad, Steve Jobs has passed away.
Beyond being the person who shaped the devices that I avidly use for everything from leisure to facilitating my work processes as a financial adviser, Steve Jobs was someone whose actions and life story greatly inspire me.
CPF SMRA Minimum 4% Interest Extended to 31 Dec 2012
The government has decided to further extend the minimum 4% p.a. interest on Special, Medisave & Retirement Account (SMRA) until 31 Dec 2012. Money in SMRA which forms the first $60,000 of a CPF member’s combined balances will continue to earn 5% p.a.