Category Archives for Insurance
How Participating Funds of Insurance Policies Work
The concept of insurance works on that of risk pooling. Premiums collected go into a common pool and are used to make payouts to claimants. The insurer manages this pool and will invest it to grow the size of the pool. Holders of participating whole life or endowment policies are entitled to a share of […]
NTUC Annual Bonus Reduction
In yesterday’s newspapers, there was an article about Tan Kin Lian, NTUC Income’s ex-CEO, mounting an online protest over some changes announced by NTUC recently. The changes involve restructuring bonus payouts for life policies sold after 1993. Essentially, the annual bonus will be reduced but this will be offset by an increase in the terminal […]
Medishield Premiums to Go Up
According to Health Minister Khaw Boon Wan, the Medishield insurance scheme currently pays only about 55 per cent of big bills in the subsidised B2 and C class wards. As he wants the patient’s share to be lower at about 20 per cent, therefore he is increasing some of the payouts under the scheme. However, […]