Friday, July 14, 2006

Save for your child in an Ideal plan

A parent can save for a child in an Ideal plan.

It is expected to earn an attractive return that can be higher than a traditional education policy. It has the advantage of being flexible, i.e. you can change your regular savings and also the timing of the withdrawal for your child's education. You can also use the savings for other purpose to benefit your child.

Compared to similar plans from other insurance companies, our Ideal plan could give a return of 20% higher. This is due to our lower charges, which allows more of the savings to be invested in the plan. If the projected amount is $50,000, our plan can give up to $10,000 more. That is a lot of money.

To find out more, call 62 INCOME (62 462663)

Wednesday, July 12, 2006

Motor Insurance Covers Injury To Third Parties


As an orthopaedic surgeon, I have to write medical report for my patients who were unfortunate enough to be involved in road traffic accident.

The more unfortunate ones may lose their ability to work and some will lead long term, expensive medical care.

Whilst my sympathy lies with these victims, I also wonder what sort of bills the guilty party will face. I believe some court awards to accident victims may be very high, to cover the medical bills and perhaps loss of future earnings etc.

Whilst I do not foresee myself involving in major car accidents as the guilty party, this sort of thing is very unpredictable.

Naturally, I am not sure if I would be able to hand the potentially hefty damages that the court may award. I would not want to spend the rest of my working life paying off this debt, or worse, ending up as a bankrupt.

I do not think my vehicular insurance would cover such things. Should I buy a personal liability insurance?


If you drive a car and you injured someone in an accident and are liable, the motor insurance policy will cover your liability. The third party injury is covered by the motor insurance.

However, if you cause this injury through another negligent act, ie not involving your car, then you are personally liable.

We do have a personal liability insurance plan. If you are interested, let me know.

Customers want assurance that the investment is safe


In your posting, you said: investors have over-reacted to the concerns for inflation. The correction was exaggerated by selling and unwinding of leverage positions by hedge funds.

I hope that NTUC can help policy holder monitor the fund should like should ensure that none of the find wil lose money.

I don't trust (three company names deleted) because I get the feeling that their agents just want to earn my money and don't care about my investment.

After attending your talk, I want to invest with NTUC. I need assurance that I will not lose my hard earn CPF money and cash savings.


If you invest in a large well diversified fund, eg the combined fund, for 10 years or longer, the risk is actually very small. While the investments may go up in some years, and down in other years, the average over several years should be better than the return on bonds and other safe investments.

By investing in a large fund, you get diversification and is not exposed to bad stock

I also have most of my personal savings invested in our combined fund. I understand the concern of all investors to have an attractive return and to avoid excessive risk.


Dear Mr Tan,

Thank you so much for your reply. I really appreciate to have an exemplary figure like you who is so humble to attend to the public's enquries promptly & with great sincerity.

Tuesday, July 11, 2006

Travel by train in Germany

I had tickets to watch the World Cup quarter-finals between England and Portugal at Gelsenkirchen stadium in Germany.

My travel agent arranged for me to fly to Dusseldorf and to stay at a hotel near the stadium. As the taxi fare to the hotel is quite expensive (Euro 80), I decided to take the train. It was an interesting experience for me.

I learned the following lessons about the train system:

- You can look at the train schedule
- You have to be at the right platform
- The train will usually arrive on time
- The schedule will state the various stops and the time of arrival at each stop
- You can ask for directions
- If the destination station is deserted, you can call your hotel to get a taxi to fetch you.

Actually, a better arrangement would have been to check into the airport hotel and travel to the stadium and back by train. This would have been easier, fun and less costly.

With this experience, I am now confident of using the train system in Europe. I intend to take a holiday and around Europe by train.

Monday, July 10, 2006

Customer happy with online application

A customer applied for 4 low cost term insurance (iTerm) for members of the family though online applicaiton.

She was delighted with the low premiums and hassle free processing. There is no need for medical examinations. She only has to complete 4 simple health questions.

The average processing time for i-Term is about 3 working days, compared to 6 days for traditional products.

Purchase of life annuities from business center

A customer asked for my advice on wheter to buy an annuity at age 55 or leave it with CPF until age 62.

I referred the customer to our annuity specialist based on our business center.

The customer was delighted with the "prompt and professional support" given by the annuity specialist.

His two sisters turned up later to buy two life annuities and to invest in the growth plan (single premium endowment).

Sunday, July 09, 2006

Elderly are active at work

I stayed at a resort hotel outside of Munich to attend the World Cup match.

On my arrival, an elderly German (who looked nearly 70) helped me to carry my luggage to my room. He looked fit and strong.

Over the next few days, I met a few elderly persons working in the hotel. They include the night front desk attendant and the health center attendent. The elderly attendants was quite prominent - always attentive, always helpful, always cheerful.

The hotel also had younger employees dressed in the attractive Bavarian costumes.

Germany has a way of keeping their elderly people active at work.

Customer wants on-the-spot settlement


Dear Mr Tan,

Currently when there is an accident, the vehicles have to go to IDAC to assess the damages. Later, they have to get another assessor to assess the cost of repairs based on the IDAC report.

If both parties have the same insurer (NTUC Income), can the monetary assessment be done by NTUC Income on the spot and an offer be made to the parties involved. This will save admininstration and legal cost and time.



We have a practice to offer monetary compensation on the spot, but it has to be done at our office. Previously, we operated this service at various centers, but the demand was quite low.

I will ask my claim service manager to send our practice note to you on this matter.

Please be more understanding

A customer was unhappy with some mix-up in his requests to upgrade to the enhanced Incomeshield plan.

He originally wanted to upgrade, but later changed his mind. During this time, our collegues failed to act on his intention correctly. This made him very angry.

He sent a strong e-mail to me. I gave him this reply:


I will ask my service quality manager to call you and find out what your intentions are.

During this period, all my colleagues are working under great stress. I wish to ask you to be more understanding and patient. Please do not use strong language unnecesarily. My colleagues also have their feelings.

I hope that we can sort this matter out to your satisfaction.

Global bond fund earns average of 4% return


Our Global Bond fund earned about 4% return, after conversion into Singapore $, as follows:

Yield(YTM) Bond

2003 3.60%
2004 3.47%
2005 4.03%
2006 (6m) 4.01%

The average yield to maturity of the investments on the fund is 3.99%.

Investors who wish to have a more stable modest return can consider the Global Bond fund.

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