Tan Kin Lian's Blog: What is my motive?

Thursday, May 08, 2008

What is my motive?

POSTED IN ONLINE CITIZEN
http://www.theonlinecitizen.com/

Some people asked if I have a motive, that is, if I am setting up another insurance company to offer low cost products?

My motive is to offer to the people the option to buy low cost products, i.e. term insurance and investment funds. This topic has been covered in my blog and website over the past year:

http://www.tankinlian.blogspot.com/
http://www.tankinlian.com/
http://www.tankinlian.com/faq

Many people have asked me where they can buy low cost term insurance and investment funds.

I have directed them to the following:
> insurance companies, mostly NTUC Income
> invest in the STI ETF, through a stockbroker
> invest in unit trust, through an internet platform, e.g. Fundsupermart, Dollardex, POEMS

I am now advising a life insurance company in Singapore to offer these low cost products. I hope that they will be avialble in 6 to 12 months time. This has been mentioned a few times in my blog during the past weeks.

I hope that my actions in educating the public and advising a "new" life insurance company, will spur the existing life insurance companies, i.e the big boys, to offer low cost products as well.

This will be to the advantage of the large numbers of people who need the "noble" service of life insurance.

Some people have pointed out that I have earned enough money from my previous job, and I do not need to earn more money now. This is correct. I am doing what I can to offer an alternative, which I hope will benefit many people.

I want to thank the large number of ordinary people who have expressed their views in support of my effort. It has been very difficult for me to endure the personal attacks of people with vested interests.

12 comments:

Anonymous said...: Mr. Tan, we will take on some of the attacks for you. We are in front and behind you to protect you from vicious snipers sent by the new management. Be assured. Continue to expose the sinister motives of the agents and their benefactors and protect us consumers..; May 08, 2008 2:03 PM
Anonymous said...: Mr Tan,

so sad that you have to endure vicious personal attacks by people you know. But I think that this blog entry that you just put up is necessary so that people will understand that you have been very maligned by those with vested interests. Some of them seem to make use of your name to make a name for themselves.

The fact that you have accumulated enough wealth and no longer needs to give advice makes me trust you more than those so called 'financial advisers' (or that's what they call themselves after sitting for a few exams).

I hope that you'll know that there are still a group of us who are appreciative of your effort and trusts in your thirty years of experience. Please don't stop giving us good advice.

Heaven blesses good people.; May 08, 2008 2:19 PM
Anonymous said...: Mr. Tan
I am very satisfied of your objective way in educating consumers, like myself, on how to get value for money from our investment. Many of your readers, myself included, benefitted from your unselfish and objective way of informing and educating public about investment. At the end of the day, the decision is left to us to invest wisely.
Please keep up the good work in continuing educating your readers in making wise investment.
Thank you !

Gary Chang; May 08, 2008 2:51 PM
Anonymous said...: Dear Mr Tan

It pains me a lot to see that you are under attack by selfish and high handed people for no good reasons.

You are a noble person who cares for all the men in the street.

I am no agent nor a current or ex-employee. I am just a policy holder who agrees with you that INCOME is doing an injustice to us by reducing the annual bonus.

Thank you for stepping forward to assume a very difficult role. You are truly appreciated.

A housewife.; May 08, 2008 2:53 PM
Anonymous said...: Mr. Tan,in fact you are continuing propagating the cooperative values outside NTUC that you held dear.
We hope the greedy agents would be eradicated soon. Nothing is permanent. The new management cannot sustain giving these agents high commission and make a loss on the products. The next time they may tell the special bonus will be reduced also and use all sort of excuses to justify it again . This time maybe another type of smoothing like bread spread. If it continues to smooth the fund may get thinner and thinner and disappear.; May 08, 2008 2:57 PM
Anonymous said...: Dear Mr. Tan

Just wanted to tell you that, through your blog you are doing a great job. Thank you and keep it up!

This is just the start. Still a long way to go. Hope that Singapore financial sector becomes lot less complicated for the common man to make good amount of money over the years without being ripped off by the financial institutions.

You are doing a great job through this blog and keep it up!!; May 08, 2008 3:06 PM
Raymond T said...: Mr Tan, just ignore them. One cannot please everybody. Let the facts speak for themselves. The NTUC Income that I used to know seems to be turning into exactly the type of insurance company I did not insure with all these past years. Why is it turning out this way? Better for shareholders but not policy holders? :(; May 08, 2008 3:36 PM
Anonymous said...: I wish I have known you through your website earlier. Not many people, like you are willing to educate people freely and to share their expertise. You are under no obligation to answer many of my queries in the past but you did, in fact quite promptly.
Action speaks louder than words.
Be of good courage. Press on! When the going gets tough, the tough gets going.
Just a homemaker writing to support you all the way.; May 08, 2008 4:51 PM
Anonymous said...: Mr Tan,
I am behind you. I don't believe what others wrote about you. I believe in what I see and read. Don't worry about the comments on you. Just do what you think is right.; May 08, 2008 8:27 PM
Anonymous said...: I always appreciate your views and writings a lot. Anyone with some goodness in his/ her heart can read the truthfulness and kindness you have for your readers.

Too many men and women in your position choose to retire in their comfortable lifestyles, enjoy all the material comforts their successes bring them and perhaps even look at the ordinary man in the street like me with disdain because we will never be as successful.

Maybe you have friends who even wonder why you are trying so hard to help us save a few thousand dollars. A few thousand dollars is half a year's food budget for an ordinary family, but maybe to people with your status, it just buys one lunch.

Yet you choose to make a difference with your experience and expertise.

Thanks Mr Tan!; May 08, 2008 8:30 PM
Anonymous said...: Let your actions speak for themselves. Let not their poison words distract you from your course.; May 09, 2008 8:30 AM
Anonymous said...: Go! Go! Mr Tan!; May 09, 2008 1:11 PM