tag:blogger.com,1999:blog-11702093.post5714401482801319519..comments2024-03-28T22:56:40.743+08:00Comments on Tan Kin Lian's Blog: It is more risky to be safe!Tan Kin Lianhttp://www.blogger.com/profile/00617069056914635271noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-11702093.post-45744537384886514542012-11-16T23:30:31.995+08:002012-11-16T23:30:31.995+08:00I am sure by now many of you consumers have been c...I am sure by now many of you consumers have been conned into buying or investing into those scam anticipated endowments aka as cash back, or dividend or coupon which there is an option to reinvest to earn " 3.5%" interest rate. Can the insurers honour it? Although not guaranteed can the insurers give anyhting near 3.5% <br />In the very low interest environment I don't think it is possible for them to honor this option.. One insurance company has already rejected one case for reinvestment although not the same plan but a proceed from an endowment, as reported in the ST forum.The company to honor the option although it is stipulated in the contract. The insurer cited the low interest rate as the reason for not honoring.<br />So what about those cashback anticipated endowments?<br />I urge those got conned into buying this scam product to check with thier insurer to see if they cheat on you about the reinvestment in 3.5%.zhummmenghttps://www.blogger.com/profile/11494903461266369989noreply@blogger.comtag:blogger.com,1999:blog-11702093.post-87833058034300680902012-11-16T10:57:23.938+08:002012-11-16T10:57:23.938+08:00Wholelife or endowment and all par products have r...Wholelife or endowment and all par products have risks...from interest rate risks to portfolio risks.<br />In 2011 only 2 insurance companies's life fund performed positively.<br />AXA performed 4.1% and HSBC 3.75% the other companies lost money or performed badly.<br />All policyholders' premium are invested in the one size fits all portfolio...a rojak portfolio that doesn't distinguish policyholders' needs, risk appetite and time horizon.Your premium money is put into the same port with ah beng , ah tu, ah lian old uncles and aunites and your few months' old baby 's premium.<br />Low interest rate makes it difficult for insurers to guarantee annual bonus and soon insurers may further cut the annual bonus and push everything to terminal bonus where the insurers can manipulate as they like.<br />So consumers do you think your whole life , endwoments have no risk? The truth is it is more risky than investing regularly on your own.<br />Wake up and know the truth and don't let insurance salesmen con you putting your hard earned money into these rubbish products.<br />You will never be insured adequately and retire if you continue to use salesmen as adviser. They are no advisers but conmen in financial consultants' clothing.zhummmenghttps://www.blogger.com/profile/11494903461266369989noreply@blogger.comtag:blogger.com,1999:blog-11702093.post-28687728931182648072012-11-16T10:24:34.255+08:002012-11-16T10:24:34.255+08:00The words 'risk" and "safety" i...The words 'risk" and "safety" is so misunderstood, it makes me want to cry.<br /><br />Risk includes the chance of losing all your money as well as the chance of becoming rich. If you are a middle class Sinkie, you are unlikely to become rich unless you learn to "risk" intelligently.<br /><br />Safety means keep your money safe as well as keeping you safe from ever becoming rich.<br /><br />It's highly unlikely that financial advisors and politicians are more interested in keeping your money "safe" than you are. Or that these folks are interested in making you rich. Think about it. Getting rich is your own responsibility. So is keeping your money safe.<br /><br />Singapore's 5 Minute Investment Diaryhttps://www.blogger.com/profile/06643736619481219029noreply@blogger.com