Dear Mr. Tan,
I just talk to 4 different insurance companies asking for their term insurance. One company try to sell me life insurance when I asked for term and I have to pay 4.5K per year. Even for term insurance, the price quoted is not that cheap comparable to life insurance.
Is it true that Critical illness only can be bought with a Life Insurance with Death Coverage and not as a stand alone policy? This is what an agent told me. Xan I really get a term policy valued at 500K at around 1K plus per annum as reported in the papers?
REPLY
You can buy a stand alone term and a stand alone critical illness cover under the SAF group insurance policy, if you are a reservists. Read this FAQ: http://tankinlian.com/admin/file.aspx?id=116
A term insurance for $500,000 cost about $768 a year. You can buy critical illness separately. But you do not need to insure a large sum. An insurance of $50,000 or $100,000 for critical illness is sufficient, as it is supplemented by term insurance.
Read my book, Practical Guide on Financial Planning and attend the educational talk conducted by FISCA. They are meant to educate consumers to make a better choice.
Read the FAQs in www.tankinlian.com/ask.aspx to find out why many agents are not giving the proper advice to consumers, due to their conflict of interest.
Sunday, November 7, 2010
Online courses
Learning in Dorm, Because Class Is on the Web
Online education is finding its way into more colleges,
many of them public institutions facing tight budgets.
many of them public institutions facing tight budgets.
Guiding a child to financial independence
Parents of adult children face all types of challenges, even in the best of times, but the tough labor market for young people can make it even more difficult.
Here are some tips:
http://www.nytimes.com/2010/11/05/business/businessspecial5/05LAUNCH.html
Here are some tips:
http://www.nytimes.com/2010/11/05/business/businessspecial5/05LAUNCH.html
Measure of economic progress
U.S., China and eating soup with a fork
Are economists the world over using an outdated tool to measure economic progress?
They are widely used to compare standards of living in one country with those in another
but critics say GDP is too narrow to be a realistic indicator.
Joseph Stiglitz, the Nobel-prize winning American economist, has complained that
world leaders make a fetish out of it and suffer from GDP-obsession.
http://blogs.reuters.com/great-debate/2010/10/29/u-s-china-and-eating-soup-with-a-fork/
Are economists the world over using an outdated tool to measure economic progress?
They are widely used to compare standards of living in one country with those in another
but critics say GDP is too narrow to be a realistic indicator.
Joseph Stiglitz, the Nobel-prize winning American economist, has complained that
world leaders make a fetish out of it and suffer from GDP-obsession.
http://blogs.reuters.com/great-debate/2010/10/29/u-s-china-and-eating-soup-with-a-fork/
Saturday, November 6, 2010
Reply to Jeffrey Tan, President of IFPAS
I am looking for some consumers to come forward and send a reply to the letter from the President of the association representing the life insurance agents. http://www.straitstimes.com/STForum/Story/STIStory_599561.html
Jeffrey Tan said consumers to get the advice of the insurance agent who will help them to select the most suitable products to meet their needs. From the questions sent to me, it seemed that many consumers were confused about the product that has been sold to them, and when they learned at a later date about the poor yield on the life insurance policy, they regretted having made a bad decision.
If you have suffered this unfortunate situation, I ask you to come forward and write a letter in reply to Jeffrey Tan. This will help to clean up the bad practices where many insurance agents continue to take advantage of the ignorance of the consumers.
If you are willing to share your experience, you can write a draft to me at kinlian@gmail.com. I will help you to polish up the letter.
Tan Kin Lian
Jeffrey Tan said consumers to get the advice of the insurance agent who will help them to select the most suitable products to meet their needs. From the questions sent to me, it seemed that many consumers were confused about the product that has been sold to them, and when they learned at a later date about the poor yield on the life insurance policy, they regretted having made a bad decision.
If you have suffered this unfortunate situation, I ask you to come forward and write a letter in reply to Jeffrey Tan. This will help to clean up the bad practices where many insurance agents continue to take advantage of the ignorance of the consumers.
If you are willing to share your experience, you can write a draft to me at kinlian@gmail.com. I will help you to polish up the letter.
Tan Kin Lian
Bread Talk and Bread Life
I saw two shops in a mall in Jakarta that have similar name. Bread Talk was probably the original company. Bread Life follows the same concept. The Bread Life shop has many customers, and the Bread Talk shop was almost empty.
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