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Start Investing With Only $500 — Her World

Quite glad that an article I have been helping a writer with has finally been published. The November 2014 issue of Her World carries the article Start Investing With Only $500, and I am pleased that it even found a little spot on the cover page.

I also realised that it is quite challenging to write an article for a magazine, and also very different from writing on this blog where I have full editorial control. The article would have been quite different if I wrote it from scratch, but I suppose the end product is more fitting for a magazine. (You can view the article at the end of this post.)

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Insurance firms must be made to justify higher premiums: TODAY voices

A reader of TODAY wrote in to the publication regarding his thoughts about the increase in insurance premiums:

I see two current issues regarding insurance that impact cost of living. One is the wide range of premiums for health insurance offering similar hospitalisation coverage and the ability of insurers to hike premiums by a large quantum upon renewal.

He is quite astute to note that the cost of insurance policies does impact cost of living — significantly so, I might add. I get this feeling that most Singaporeans do not seem to notice this fact at all, seemingly buying policies without much thought or research, perhaps out of a misplaced trust in the person selling them these policies. When it comes to increasing food prices or transport fares, the same people are understandably upset at the rising costs of living, but they seem oblivious to the fact that a bad insurance portfolio can cost them so much more over their lifetimes.

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Understanding CPF Insurance Schemes

I am speaking at a seminar next month regarding the various CPF insurance schemes available for CPF members.

Are you confused by the various CPF insurance schemes that you invariably enrolled in if you contribute to CPF? Do you know what options you have for these schemes? How does one utilise his/her CPF to obtain better coverage?

The talk would be useful in helping attendees understand various CPF insurance schemes such as DPS, Medishield, as well as Eldershield which is pertinent for people above 40, or individuals with parents above 40 who are financially dependent on them.

There is currently an early-bird discount until 1st May 2013.

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Leaving You Underinsured Creates Repeat Business

Imagine having a doctor who purposefully does not treat you completely such that you would constantly remain sick, thus having to visit the doctor repeatedly, each time paying for his services and medication. I am not familiar with the medical fraternity in Singapore and I trust that most doctors do their jobs ethically, but I know for a fact that the local financial industry thrives on this unethical practice.

I recently met a client who bought an investment-linked policy recommended to her by her friend which provided poor coverage while being taxing on her monthly budgeting.

What’s sad was what the agent wrote in the point-of-sale documents to justify the sale of the policy – an ostensibly apologetic “client to increase coverage when financially better”. It shows that the agent was fully aware that such a policy underinsures her client and yet deemed it fit to recommend her friend the policy. It is particularly upsetting since the client had specifically indicated her concern was (quite rightfully, for her profile) insurance coverage with her limited budget.

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