When I give a talk on financial planning, many participants realized that they had bought a life insurance policy that gave them a poor return. They ask me - should I continue or terminate the policy? I have written this book to show them how to find the right answer. It includes two case studies http://tklcloud.com/pdfbook/11
t is quite troublesome to schedule an appointment. Most people are busy and just to fix a time slot takes a lot of time. This can be resolved using the "Appointment" system in TKL Cloud. You can indicate the time slots that are available for a meeting or telephone call. People can choose the slot and book it. It is like seeing a doctor. This can be used for property agents to schedule viewing visits or for customers to consult an insurance adviser or other consultants. To learn about this, attend the Briefing session on 21 June. www.tklcloud.com/book/41
EXPERIENCE Someone wanted to see me at 11.30 am this morning. He did not turn up. I called him, and his reason was "I did not confirm". I actually sent an email to tell him "OK". This type of missed appointment is quite often. They only need to send email to reconfirm.
An woman in her early 50s, who has a low income, was sold an expensive Shield policy by an insurance agent placed in the bank. She paid over $800 in premium, to cover treatment in private hospital, which she did not need.
Her niece helped her to lodge a complaint for mis-selling, but the insurance company did not take any action against the agent. She knew that she would not be able to afford the premium after a few years, and her total Medisave savings would be wiped out.
This type of mis-selling is quite rampant. Many people are paying more for a private Shield plan than is really needed - and the excuse is "you do not have to pay cash".
For people without much savings, a better way to manage the cost of medical care is shown here: http://tklcloud.com/pdfbook/2
Please help to pass this message to your relatives and friends, especially those in their 50s and older.
Dr. Tommy Wong, professor turned international author, has written five books on "Wisdom on How to Live Life".
These books are written in a conversational style, which makes them easy to read and understand. The topics covered by the conversations are relevant to daily living in a place such as Singapore. In his books, Dr. Wong brings out the important message of paying attention to the spiritual aspect of living, rather than just focusing on the materialistic aspect. This change in focus can be comforting to those who are experiencing stress in their daily life.
This series of books (hard copy) is selling at $100-. Dr. Wong has now made the PDF version available for sale at $35-.
Comment by Tan Kin Lian: I like the writing style of Dr. Tommy Wong. He is able to bring the message across clearly using the dialogue format. This is the same format used by Plato in his al.-time famous book, "The Republic". Definitely a book worth reading (actually - 5 books!)
Many people find a life insurance policy to
be confusing. This is likely to be the intent of the insurance company who
designed the policy. By making it confusing to consumers, they
are able to hide the essential facts that are required by the regulators to be
disclosed to consumers in the Benefit Illustration.
The insurance agent (or financial adviser)
is required to give you a Benefit Illustration for the policy that is being
recommended to you. The trouble is – most consumers do not
understand how to read the Benefit Illustration.
I will show you in this book what to look
for in the Benefit Illustration, and you can then decide if the recommended
policy is the right plan for you to invest your hard earned savings. The good news is – you do not need to spend
many hours to understand what to look for. It only takes you 30 minutes!
I will also show you a better way to invest
your hard earned savings to get a higher return than offered by most life
insurance policies. And, if you need insurance protection to
take care of your dependents in the event of premature death, or to pay for
medical expenses, you will also find a better solution in this book.
For most working people in Singapore, the
difference between the right and wrong choice can amount to more than $200,000.
All they need is to spend a few dollars and
30 minutes on this book and they will learn how to get a much better outcome
for their savings.
I sent this letter to the Minister for Transport and the Land Transport Authority giving my suggestions on how to address the issue of high COE prices. We have to look at the root cause of the problem. The review of the COE system will not solve the problem.
I suggested that the regulation should be changed to allow owners to rent their cars to neighbours.
A person had a heart attack while driving and died in the crash. The family had difficulty in making a claim for the personal accident and hospital insurance policy and had to pay an increase premium on the renewal of the car insurance.
The journalist asked for my views on these three insurance policies and if there is any fault with the insurance cover.