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Written By: Tiang Chuan on July 26, 2011 2 Comments

Which form of distribution channel would give you the best advice? Through the Agency model, the Bancassurance model or the IFA model? We will discuss more about that later.

A lady have wrote in to The Straits Times Forum on the 25th July 2011 sharing her experience of getting insurance advice from [...]

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Written By: Tiang Chuan on May 11, 2011 No Comment

An ex-AIA agent has been charged for allegedly selling a fake US $5 million ‘AIA Thank You’ policy to a semi-retired businessman in November 2002, reports the May 11th 2011 edition of The Straits Times (Ex-AIA Agent Charged Over Fake $6.2m Policy). The story was first reported here.

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Written By: Tiang Chuan on January 2, 2011 No Comment

Like everyone else, the past holidays have been filled with feasting and gatherings, updating and gossiping. Most were of no particular importance. However, I would like to share a story about Investment-Linked-Products (ILP) told by a friend who works in an insurer.

An old lady went to the insurer after she received [...]

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Written By: Tiang Chuan on September 21, 2010 No Comment
Extension of 4% SMRA Interest to 2011

The government has announced that the floor rate of 4% interest for all Special, Medisave and Retirement Account (SMRA) will be extended to 31 Dec 2011. The 4% floor rate was first supposed to end on 31 Dec 2009. It was extended to 31 Dec 2010 last year “in light of the global [...]

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Written By: Tiang Chuan on July 24, 2010 No Comment
High Lapse Rate After ‘Free’ 1st Year Cover

1 year ago, an FA firm (not an IFA) ran a promotion that offers a ‘free’ first year term coverage by rebating the whole first year premium. Now that promotion has backfired and the insurer wants to claw back more than $7m in commissions and volume discounts due to the high [...]

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Written By: Tiang Chuan on June 28, 2010 No Comment
It Comes From Within

If you have been approached by an Independent Financial Adviser (IFA) before, you would probably been told that IFAs can offer products from many providers and put client’s interest first. There is a fact and an opinion in the statement. The fact is that IFAs does have access to many different products from [...]

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Written By: Tiang Chuan on September 14, 2009 17 Comments
CPF LIFE – How It Works

CPF Board has recently released more details on the CPF LIFE Scheme. The CPF Life Payout Estimator and Information Booklet can be found on their website here – CPF LIFE Website. I’ve done some comparison between the CPF LIFE vs Commercial Annuity already, I’ll do some simple comparison between [...]

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Written By: Tiang Chuan on July 13, 2009 3 Comments

TM AsiaLife has announced the withdrawal of their champion endowment plans, namely: TM Education (LP), TM Nest Egg (LP, LP05). This spells bad news for consumers as these plans offer great value to policyholders in terms of high guaranteed values and unbeatable track record. TM AsiaLife holds the record of being the only [...]

Written By: Tiang Chuan on May 13, 2009 One Comment

An insurer placed an advertisement in today’s The Straits Times announcing their record of never reducing their bonus for their participating policies since they started more than 60 years ago. The are maintaining this “unmatched record” this year. According to the information I got, this move to reassure the consumers was prompted by [...]

Written By: Tiang Chuan on May 12, 2009 One Comment

I did not take note of this plan until an agent friend ask me about it when her client consulted her. She could not believe that such plans exist. Yes, such endowment plans do exist.

Endowment, or for that matter, Participating (Par) or With-Profits plans, have bonuses that will be declared yearly. [...]

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