Category Archives for Insurance
Medishield Life – How Do You Determine the Unhealthy?
My letter on an area of Medishield Life, Sifting Out Those with Pre-existing Conditions was published in the ST Forum yesterday. The following text is my original letter, before editing. Medishield Life – How do you determine the unhealthy? The Medishield Life committee has suggested that those with existing illnesses who are currently not on the […]
Medishield Life and What It Means
Recently, the Medishield Life committee announced the changes to Medishield and many people might be confused by the changes. This post will help you understand the gist of what’s happening. My discussion on the changes to Medishield will cover four areas: Improvements to basic Medishield benefits Medishield Life Premiums of Medishield Life (to be discussed in another post) Impact on Private […]
Launch of AIA Wealth Accumulator 2
AIA Wealth Accumulator 2 was launched yesterday on 19 May 2014. AIA Wealth Accumulator 2 is a 4-year non-participating single premium endowment plan that provides financial protection against death and guaranteed returns on capital at maturity. This plan is available on a limited tranche basis. The offer period is until the tranche size is met. Key […]
CPF Contribution to be Increased
As announced in Budget 2014, the CPF contribution will be increased by 1% for everyone. The increased contribution will go to Medisave. While companies will be receiving some kind of temporary top-up to help cope with this increase, self-employed personnel will have to fund this increase by themselves. There will also be in additional increase […]
No More Benefit Illustration for Single Premium ILPs
Due to a change to the regulatory requirements by MAS, it is no longer permissible for the insurance companies to provide any benefit illustrations for single premium and recurring single premium investment-linked plans (ILP). The change takes effect from 1 Feb 2014 onwards. This is to avoid misinterpretation of investment projections. This is a positive […]