The Choice Between Term and Whole Life?
Consumers have often found themselves torn between having to purchase a term insurance or whole-life insurance cover. Let us review the differences and see how each one will fit into your own planning. There’s two school of thoughts when it comes to life insurance purchases. One camp that is pro “term” and the other pro “whole-life”, and either of these camps could be...
November 18th, 2009
Putting a price on financial advice
In a Singapore Sunday Times’ article “Putting a price on financial advice” dated 1 November 2009 written by Lorna Tan highlighted about how three firms put a price on their financial advice…. Here is the summary for those who missed reading the article: Providend: Initial planning fee: $300 (for a Will) to $4000 for a comprehensive plan for affluent customers Retainer fee: 0.8% to...
November 16th, 2009
Critical Illness Stand-alone policies Part 3
This series will talk about the pros & cons of a stand-alone critical illness plan, those that are available in Singapore. Let’s walk through the first plan ever in Singapore. Company: AXA Overview: AXA’s Early-Payout LivingEnhancer is a regular premium plan with early payout critical illness benefits. The amount you can claim depends on the severity of the illnesses. There are three different...
November 14th, 2009
IFA Fee Models
Ever since I started as an Independent Financial Adviser practice, I’ve probably heard of complains from clients that their “advisers” do not contact them at all until there is a new product to sell to them. These clients often felt that their “advisers” were just out to make money and after that, no more after sales service. For the answer the crux of this problem lies...
November 12th, 2009
Critical Illness Stand-alone policies Part 2
This series will talk about the pros & cons of a stand-alone critical illness plan, those that are available in Singapore. Company: Prudential Overview: PRUmultiple crisis cover provides up to THREE critical illness claims, inclusive of 2 cancer claims. Unique Feature: 1) Up to THREE critical illness claims, inclusive of TWO cancer claims 2) Waiver of all future premiums upon the first critical...
November 10th, 2009