Monday, January 31, 2011

friends provident international

here's an important announcement from friends provident international:

completion of the acquisition of bupa health assurance ltd:

further to the announcement made on 15 October 2010, Resolution is pleased to announce that the acquisition of the entire issued share capital and business of Bupa Health Assurance Limited by Friends Provident Life and Pensions Limited, a subsidiary life company of Resolution, completed on 31 January 2011.

and the following is taken from:

Welcome to Bupa Health Assurance Limited (BHA)
now part of Friends Provident

Bupa Health Assurance Limited (BHA), comprising Bupa Group Risk and Bupa Individual Protection, has been acquired by Friends Provident Life and Pensions Limited (FPLP), a subsidiary life company of Resolution and is no longer part of the Bupa Group. The Bupa name and the heartbeat mark are trade marks of the Bupa Group and are being used by Friends Provident under licence.

my comment:

responding to my query, the acquisition of bupa health assurance limited by friends provident has no direct bearing in our market and applies only to the uk market.

Friday, January 28, 2011

IFAs come out top in poll of public trust in financial sector

IFAs come out top in poll of public trust in financial sector
Added 28 January 2011 by Dan Judge

IFAs and brokers are the most trusted figures in finance, according to an academic study.

The research, conducted by the Financial Services Research Forum, based at Nottingham University Business School, found independent advisers were more trusted than banks, building societies, insurance companies, investment firms and credit card providers.

The conclusion was based on data collected by polling and market research company YouGov, which questioned more than 2,000 consumers in an online study. Respondents were asked to score out of 100 their level of trust in different financial services companies.

Scores above 50 indicated increasing trust, while those below 50 reflected a growing lack of trust and 50 was neutral.

Despite IFAs receiving the highest scores, at an average of less than 65, the figure has fallen in the past nine months. In the third quarter of 2009 it was above 75, meaning faith in advisers has dropped since then.

Unsurprisingly, banks received the lowest score. According to the forum, their score has “struggled” to rise above 55 in the past 12 months and in the latest round of findings stood at 35.

Only advisers/brokers and building societies had scores above 50 at the end of the third quarter of 2010.

Broadly, there was a widespread lack of faith in financial companies, according to the research, with some consumers stating they only put their trust – and their money – in the hands of financial services firms because they had no choice.

Forum director Professor Nigel Waite said the report illustrated the difficulty the financial sector faces in rebuilding trust with the consumer.

He added: “The overall conclusion has to be that consumers are moderately trusting of their own financial institutions but tend not to trust financial institutions in general.

“As has usually been the case since we first developed the Trust Index in 2003, the brokers/advisers category continues to stand out as the most trusted.

“This perhaps reflects that consumers recognise the greater and more explicit responsibility such institutions have to work in their clients’ best interests.”

Tuesday, January 25, 2011

manulife - launch of star protector

today, i attended manulife's formal launch of a new product, star protector to the fa channel.

what is manulife star protector?

manulife star protector is a limited premium (payable for 10, 15 or 20 years) whole life participating policy that covers death, accidental death, total and permanent disability and terminal illness. it provides protection with a minimum protection benefit applicable till age 65 years.

minimum protection benefit:

depending on the entry age of the life insured, the mpb is derived using the mpb factor multiplied by the base plan face amount which is applicable up to the day before the policy anniversary immediately following the 65th birthday of the life assured.

minimum protection benefit:

entry age mpb factor

0 to 30 2.50
31 - 35 2.25
36 - 40 2.00
41 - 45 1.75
46 - 50 1.45
51 - 55 1.25

the mpb factor will be reduced to 1.0 if there is any bonus surrender or when the base plan is converted to RPUI (reduced paid-up insurance). once the mpb factor is reduced, it cannot be reinstated.

the following riders can be attached to star protector:

1. critical care enhancer
2. personal accident benefit
3. medicash
4. waiver of premium
a. payor benefit and payer benefit (spouse)
b. critical care payor benefit and ccpb (spouse)
c. critical care waiver
5. keyman replacement option

my comments:

in the comparison charts given, for a male, non-smoker aged 30 years and a male, non-smoker aged 40 years for limited pay options of 10 years, 15 years and 20 years, manulife's star protector with critical care enhancer rider appears to have been competitively priced against the competition in similar class whole life products.

Monday, January 24, 2011

'bust-boosting' cookies pose health risks

in an article by ms elizabeth soh, 'bust-boosting' cookies pose health risks, in today's edition of the straits times (page B1), warns of the effects of these plant-hormone cookies.

but the promise of being well-endowed and the side benefit of some weight loss was seemingly too good to resist and after consuming these 'f-cup cookies, the girls (three 16-year-olds) suffered gastric pains and diarrhoea.

thank God, the girls have been treated and have also recovered.

in a check with the ava (agri-food and veterinary authority of singapore), a spokesman said the cookies have not been cleared for sale in singapore as not enough is known about whether pueraria mirifica* is safe to be used in food.

these cookies were ordered from a local blogshop which also offers japanese 'slimming' pills and also 'bust-enhancement' chewing gum.

what is also worrying is that the cookies are selling like the proverbial hot cakes.

plastic surgeon andrew khoo of the aesthetic & reconstructive centre highlighted;

"it has been documented that quite a number of breast cancers are oestrogen-receptor positive, which means they are hormone-trigered tumours. it's not worth taking the risk of continually stimulating one's breast tissue by ingesting plant hormones."

my comments:

consumers, especially children, should be extra wary and vigilant of being enticed by undocumented and unverified (by authoritative sources) claims. this is more so when it comes to ingesting the so-called supplements, drugs and even conterfeit products which may pose a risk to one's health.

and if the consumption of such supplements, drugs or even counterfeit products result in hospitalisation, then the other aspect of this risk may even invalidate the admission of any claim to the benefits of a healthcare plan.

Friday, January 21, 2011

insurance agents' body sued for offering dud degree

they say first impressions usually count, don't they? but an article in the straits times today highlighted the case of an mba offered by a professional body for insurance agents, mr davy goh peng yang found out that his mba qualification from vancouver university may not even be worth the paper that it is printed on.

mr davy goh completed his mba programme in 2005 and when he wanted to pursue vu's doctorate studies, he found out that vancouver university was not a recognised univeristy.

my comments:

i've been solicited to obtain questionable tertiary qualifications many, many times through the emails which are found regularly in my email inbox and this is on a constant basis over the years.

but i've resisted the temptation to even give these invitations the grace of my response simply because to me, a degree or other higher qualifications have to be 'earned' and not obtained through any other means.

this whole thingy boils down to the central principle of integrity and should i even consider exploring this option of obtaining questionable tertiary qualifications, then i have absolutely no right to continue doing what i have been doing for the past decade and three years in the financial industry.

Thursday, January 20, 2011

tokio marine life insurance singapore - tm business continuation

newly launched, tm business continuation (rp) and tm business continuation (rp-dd) and these products are essentially clones of tm peace of mind (rp) and tm well being (rp-dd) respectively.

what is tm business continutation (rp)?

TM Business Continuation (RP) is a non-participating regular premium level term assurance plan. It provides coverage against Death, Terminal Illness and Total & Permanent Disability.

Premiums are payable throughout the Coverage Term. Coverage Term available for 5 or 10 years or up to ages 60, 65, 70 or 75 years.

Premium rates will not change throughout the premium term.

Guaranteed Renewability (applicable for coverage term 5 or 10 years only)

This additional feature allows the life insured to renew the policy at the end of the Coverage Term for the same Basic Sum Assured or lower without any medical evidence at the time of renewal.

The life insured may choose to renew the policy for a further term equivalent to the existing Coverage Term or lower, subject to the availability of the coverage term at the time of renewal.

However, the life insured may not renew beyond age next birthday 75 of the Life Assured. The policy will be renewed on the expiry of the existing policy. On renewal, the prevailing premium rate of tm business continuation (rp) corresponding to the life insured's age then will be applicable.

Convertibility Option

The Convertibility Option allows the insured to convert the policy to one of our regular premium or limited premium payment tm series participating plans available at the time of conversion:

with a Death Benefit which must not be greater than the Basic Sum Assured without any medical evidence;

at the prevailing premium rate which applies to the life insured's new attained age as at the date of conversion.

The life insured can exercise this option any time before the policy anniversary when the life insured attains age 60 on next birthday and while the policy is in-force.

The new policy is subject to prevailing guidelines and conditions at the time of conversion. It also cannot contain any dread disease cover.

Partial convertibility is allowed subject to prevailing guidelines and conditions at the time of conversion.

Wednesday, January 19, 2011

tokio marine life insurance singapore - tm peace of mind (moneyback)

as promised, here's a brief description of the newly launched tm peace of mind (moneyback) from tokio marine life insurance singapore.

what is tm peace of mind (moneyback)?

TM Peace of Mind (MoneyBack) is a limited premium non-participating level term insurance plan which provides a refund of premium (if no claim has been admitted and paid)mat the end of the coverage term. tokio marine life insurance singapore will use the Annual Premium payment mode in calculating this amount.

This plan provides coverage against Death, Terminal Illness and Total & Permanent Disability (TPD).

Premiums are payable for the first 10 years for a Coverage Term of 20 years and premium rates will not change throughout the premium term.

my comments:

are there other insurers offering almost similar non-participating limited premium level term products with refund of premium on maturity of the plan (if no claim has been admitted and paid)?

well, the most similar class products like aia moneyback protector 20 and prudential pruterm total refund comes to my mind.

how about the pricing?

if we take the case of a male, 35 years old, non-smoker and a sum assured of $100,000.00

insurer annual premium
aia $1,777.00
tokio marine $1,452.00
prudential $1,765.00

as always, please engage a financial adviser to do a complete financial needs analysis before taking up any plan and signing on the dotted lines, even though there is the 14 days free-look period should u change your mind.

Tuesday, January 18, 2011

tokio marine life insurance singapore

after my blog entry yesterday on the renaming, enhancement and launch of new products from tokio marine life insurance singapore, a reader responded by sending me this email:

dear pat,

may i request that you blog on the old and renamed tokio marine life insurance products for the benefit of everyone?



ms lim

my comments:

here's the old and new names of the life insurance products in the stable of tokio marine life insurance singapore:

old new

tm lifestyle (rp) tm nest egg (cash)
tm lifestyle (rewards 15) tm nest egg (rewards 15)
tm lifestyle (sp) tm wealth enhancement (cash)
tm lifestyle (sp-rewards) tm wealth enhancement (rewards)
tm lifestyle (lp) tm retirement (lp)
tm lifestyle care (lp) tm retirement care (lp)
tm lifestyle (trigen) tm legacy (trigen)
tm peace of mind (mt) tm mortgage protection
tm peace of mind (rp-dd) tm well being (rp-dd)
tm peace of mind (cancercare) tm well being (cancercare)
asia wealth builder wealth builder
asia flexibuilder flexibuilder II

i sincerly hope i've addressed your query. thank u very much for visiting and supporting my blog.

Monday, January 17, 2011

tokio marine life insurance singapore - launch of new products

we were notified through an email from tokio marine life insurance signapore that the company will be renaming their suite of products and at the same time, there were enhancements to 5 products and launch of 3 new products.

in consideration of the 8 key financial needs of:

1. education funding
2. wealth accumulation
3. wealth enhancement
4. living with impaired health
5. income replacement
6. retirement funding
7. legacy planning and
8. business continuation.

the new tm series of insurance products in tokio marine life insurance singapore's stable are (in abovementioned order):

1. tm education - tm education (rp) and tm education (lp)
2. tm nest egg - tm nest egg (rp) and tm nest egg (lp), tm nest egg (cash)
and tm nest egg (rewards 15)
3. tm wealth enhancement - tm wealth enhancement (cash) and tm wealth
enhancement (rewards)
4. tm well being - tm well being (rp-dd) and tm well being (cancercare)
5. tm peace of mind/tm mortgage protection - tm peace of mind (rp), tm
peace of mind (moneyback),
tm mortgage protection
6. tm retirement - tm retirement (lp) and tm retirement care (lp)
7. tm legacy - tm legacy (lp), tm legacy plus (lp), tm legacy care (lp)
and tm legacy (trigen)
8. tm business continuation - tm business continuation (rp) and tm
business continuation (rp-dd)

and last but not least, 2 ilp products:

asia wealth builder and asia flexibuilder renamed wealth builder and flexibuilder II (also enhanced) respectively.

all of the products have been renamed with the exception of the following which are either new or enhanced:

a. tm education (rp) - enhanced
b. tm nest egg (rp) - enhanced
c. tm well being (rp-dd) - enhanced
d. tm peace of mind (rp) - enhanced
e. tm peace of mind (moneyback) - new product
f. tm retirement (lp) - enhanced
g. tm business continuation (rp) - new product
h. tm business continuation (rp-dd) - new product

my comments:

in my upcoming postings, i will be touching on the 3 new products launched by tokio marine life insurance singapore namely; tm peace of mind (moneyback), tm business continuation (rp) and tm business continuation (rp-dd).

stay tuned.......

Sunday, January 16, 2011

have u made your new year resolutions?

we are now into the 16th day of a spanking new year and making (or not making) new year resolutions should still remain the norm today. for many, making new year resolutions has become sort of the standard modus operandi, while to others, may reason there is surely no point in doing so because of a lack of discipline/resolve in following through all the resolutions made till the new year's end.

perhaps it is also a good time to sit back and reflect on the year that was 2010.

has the previous year gone by without seizing golden opportunities or not venturing through doors being opened to fresh beginnings? or was the year that was too caught up in being drowned with work except spending more quality time with family and loved ones? or has the year gone by without conquering the battle of the bulge, or urge to smoke, or drink or even indulging in the game of chance?

my comments:

as for me, the new year is always an excellent time for me to review my spiritual, physical and financial health. to me, spiritual health is the numero uno priority as i seek to develop and move into a deeper relationship with my Creator and Maker. and keeping physically fit cannot be over-emphasised, especially now that i've attained my 'senior citizen' status. and last but not least, financial health is also a given as i have to be a role model not only to my family but to all of my clientele as well.

Saturday, January 15, 2011

my blog - readership (2)

wow, recalling my first blog entry since march 02, 2006 certainly evokes pleasant memories for me, especially forging many friendships along the journey in my mission to help my fellow homo sapiens in financial planning with emphasis on wealth protection planning.

in reviewing my blog entries (more than 1,000 to date), i noticed there were days when there were up to >1,000 visits and there were also days when the number drops to just a few here and there. in totality, there were more than 300,000 visits collectively from day one of the creation of my blog till the end of december 2010.

and of course, there were numerous emails requesting for my two cents' worth on not only insurance but investing as well.

my comments:

to all of my blog readers, i wish to thank u a zillion times for your continued visits and reading of my blog. and i have never forgotten the raison d'etre why i do it is because of each and everyone of u.

do keep those queries coming and of course, every feedback on the further improvement of my blog is welcome and very much desired.

Friday, January 14, 2011

my blog - readership

in a casual conversation with my fellow promiselander, wilfred ling, we talked about our blogs and the visitors who are visiting and reading our blog entries. wilf tells me that most of the readership of his blog/website consists mostly of fellow advisers from the financial industy. in fact, wilf reckons that more than 90% of his readers are tied agents/financial advisers but from time to time, there will also be prospects who will contact him to arrange a meeting with him.

my comments:

although i can not be sure, i agree with wilf that the vast majority of the readership of my blog will probably come from the financial industry itself.

how do i know this?

all of the advisers who have joined promiseland independent shared with me that they know me first through my blog and also from reading articles in the local printed media with my name being quoted.

i have stated that one of the aims of my blog* is to provide a one-stop centre on everything u need to know on insurance and i have not shifted my position, since my first blog entry in 2006, despite the fact that very few consumers outside the financial industry visits and read my blog entries.

if i have succeeded in raising the (fq) financial quotient of consumers, be they from the financial industry or not, i would have achieved a level of satisfaction in doing what i love doing and even if there is only one person visiting and reading my blog, i would still persist in blogging for this person alone.

here is a reproduction of my maiden blog entry on march 02, 2006:



my name's patrick lim, an independent financial adviser and in my 9th year in the financial services industry. i've created this blog as a resource centre (available 24/7) on anything u need to know about insurance but were afraid to ask. kindly post any queries and i'll do my best to respond to each and every query.

best wishes,
patrick lim

Thursday, January 13, 2011

ntuc-income: launch of regular premium sail

today, i attended ntuc-income's 2011 kick-off cum product launch event held at the arena, clark quay.

the company launched regular premium sail, a participating regular premium endowment plan which complements the existing one. also known as sail which is currently available, but the latter is a participating single premium endowment product. the ceo of ntuc-income, mr tan sueh chieh was present to grace the occasion and emphasised to us yet again, that his role was never in maximising profits for the insurance co-operative. but amazingly, the company has gone from strength to strength with profits coming in at just slightly over $22 million in 2007 and nearly $160 million in 2010.


NTUC Income’s SAIL: The savings plan that works hard for you. Start planning for your retirement today.

It doesn’t matter if you are in your 20s or 30s. When it comes to your retirement, starting early is essential to realise your dream retirement.The earlier you start saving, the more time you have to accumulate your retirement nest egg. By having a plan now, you don’t have to worry about your retirement income. SAIL is a savings plan that allows you to choose your desired retirement age and provides you with regular payouts to fund your retirement lifestyle. This helps you get ready for a smooth-sailing retirement.


* Flexibility to choose from a range of retirement ages1
* Enjoy potential yield of up to 5.07%p.a2
* Receive regular payouts for 20 years upon retirement
* Protection as you save
* Easy application with simplified underwriting3

What are the benefits?

Flexibility to choose your retirement age1
SAIL gives you the flexibility to select your desired retirement age while meeting your need for potential return. With a disciplined savings approach, you can enjoy a potential yield of up to 5.07%p.a.2 For the first timers who aspire to start retirement planning early to build up their retirement nest egg, they can choose to purchase a regular premium SAIL plan. Single premium SAIL plan is also available for individuals in their mid-life phase, so it’s never too late to start planning for their retirement.

Options to enjoy your returns at the end of accumulation period3
At the end of your accumulation period, SAIL gives you the flexibility to utilise your returns. You can choose to receive an attractive stream of income over 20 years, or for liquidity, you can choose to receive a lump sum or partial payout of your policy.

Protection as you save
SAIL provides you with insurance coverage for Death and Total and Permanent Disability (TPD coverage ceases at age 65) as you save. For added peace of mind and to protect your retirement income, you may purchase a rider to waive future premiums in the occurrence of insured events.

Application made easy4
Now, you can apply for SAIL without the hassle of a medical check-up. With our hassle-free application, you can be ready for your retirement.


1 For regular premium SAIL plan, policyholder can choose among 4 retirement ages of 55, 60, 65 or 70 (last birthday). For single premium SAIL plan, policyholder can choose accumulation of up to age 55, 60, 62 or 65 (last birthday), or accumulation period of 10, 15, 20 or 30 years.

2 The projected yield of 5.07%p.a. is based on male, age 35 who saves with regular premium SAIL plan, with an accumulation period up to age 65 and a yearly premium of $3,000 payable till age 60. Returns are not guaranteed. The figures used are for illustrative purpose only.

3 The accumulation period for regular premium SAIL plan is defined as the period starting from policy commencement up to retirement age of 55 / 60 / 65 / 70 (last birthday), whichever was chosen.

4 For regular premium SAIL plan, medical check-up is not required if the policyholder only applies for basic plan with annual premium up to $24,000. For single premium SAIL plan, medical check-up is not required for saving amounts up to $100,000. The accumulation period for single premium SAIL plan is available from 10 to 30 years. You can choose a fixed period of 10, 15, 20, 25 or 30 years or up to retirement age 55, 60, 62 or 65 (last birthday).

5 The total payout is not guaranteed. It is projected based on the assumption that the Life Participating Fund earns a long-term average return of 5.25% per annum in the future. Returns are projected based on estimated bonus rates that are non-guaranteed. The actual conversion value & total payout may vary according to the future performance of the Life Participating Fund.

This blog is for general information only and is not a contract of insurance. The precise terms, conditions and exclusions of this plan are specified in the Policy Contract. Please visit to read a copy of the Policy Contract. You should seek advice from a qualified adviser if in doubt. If you choose not to, you will have to take sole responsibility to ensure that this product is appropriate to your financial needs and insurance objectives. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid.

Wednesday, January 12, 2011

Monday, January 10, 2011

manulife - waiver of underwriting to replace existing manuterm

we have just received this piece of good news from manulife:

Dear Business Partners,

Please disseminate this email to all your advisors

Waiver Of Underwriting to replace existing Manuterm

Manuterm was re-launched in December 2010. Other than the competitive premium rates, it also comes with unique features such as Quit Smoking Incentives and Preferred Rates.

Now, we offer your client with an existing Manuterm plan an opportunity to replaced it with the new Manuterm plan, without underwriting!

Take some time to review your customer's existing Manuterm, If they are better off with the new plan, assist them with the replacement today!

Please refer to the below information about the Manuterm replacement.

(1) Guidelines:

The guidelines in the attaching document apply if the Policy Owner wishes to replace his or her existing Manuterm Policy with a new Manuterm Policy without underwriting. If the new Manuterm Policy does not satisfy the conditions stated in the Guidelines, the Policy Owner can still apply for the new policy to replace the existing policy but the normal application requirements, including underwriting, would then apply:

(2) Manuterm Form :

Blank Form (to be used for actual submission)

The attaching form ("Manuterm Form") is to be used for submission if waiver of underwriting is desired - subject to the guidelines given above:

(3) Sample - For your reference:

Form With Sample Case (for reference only):
The attaching Manuterm Form provides a sample of how the information on the existing Manuterm Policy is to be filled.


Ian Lau
Business Development Manager
Partnership Distribution - FA Channel
Manulife (Singapore) Pte Ltd Reg No. 198002116D
Tel: (65) 6883-6072 Fax: (65) 6333-8598

Sunday, January 9, 2011

lia - life insurance quiz

if u surf to the website of the life insurance association of singapore (, u will have noticed (on the right side of the page) there is a trivial quiz on life insurance with the answer given which goes like this;


Question: What is the maximum that a family can claim in the event of death for life insurance if the person has multiple policies from different insurance companies?

Answer: There is no maximum limit that the family can claim in an event of death. For example, if the deceased holds three valid, in-force life insurance policies from different insurers covering death as an event, the death proceeds of all three policies are payable to his estate.

right after the answer, u are to click whether the answer given is true or false.

my comments:

even though this may be (to me, at least) a rather trivial question, i was somewhat surprised (or perhaps not) to discover that out of a total of 163 responses, 26 or approximately 16% did not click on the right answer.

but then again, in my 14 years in the financial industry, there have been quite a number of times when i found that consumers do not even know that they get penalised for opting to pay premiums not annually but usually by monthly mode where the difference can be as high as up to 5% more than paying by annual mode.

Saturday, January 8, 2011

private hospitals share more bill data

in a report on january 04, 2011, the straits times highlighted that patients can now compare costs of treating 40 conditions.

that's because the ministry of health upated its list of hospital bill sizes to include date from private hospitals for 40 common medical conditions.

but because some hospitals do not treat enough of these patients, comparisons cannot be made across all 70 conditions between private and public hospitals at the present moment.

according to our health minister, mr khaw boon wan, moh publishes data for a particular hospital only if it treated more than 30 patients with that medical condition in a year, leaving about 40 medical conditions with sufficient patients in private hospitals to draw comparisons.

my comments:

perhaps what is not surprising is that treatments in private hospitals come in costlier than in public hospitals with one exception being mount alvernia hospital charging the least to treat diabetic eye disease.

for haemorrhoid surgery, the average lenght of stay ranges from just 1.3 days to the longest at 3.3 days at singapore general hospital and cost from the lowest at $1,586 (tan tock seng hospital) to a whopping $6,880 (mount elizabeth hospital) for 50th percentile bill size.

when interviewed by the straits times, ms wendy tan, 30, who is 7 months pregnant, said pricing remains a secondary consideration:

"for surgery, i think doctors are the most important thing. only if it's a very minor procedure would price become a factor."

for those who are uninsured or even covered with a group h&s benefit plan, surely pricing remains key to choice of treatment especially involving surgery because of dollar-capped limits imposed on benefits.

and that's why the consumer should seriously consider an individual comprehensive h&s plan that come with 'as-charged' benefits, without limiting the life insured to his/her choice of hospital/specialist/surgeon like what ms wenty tan has opined:

"that for me and as far as surgery is concerned, the doctors are the most important thing."

Friday, January 7, 2011

capitamalls retail bonds?

another blog reader has inquired on the latest retail bond offering issued by capitamalls asia treasury limited (a wholly-owned subsidiary of capitamalls asia limited).

my comments:

there are 2 offerings namely:

a. 1-year retail bonds: 1% p.a.

issue size of up to s$100 million in aggregate principal amount of 1-year
bonds, subject to the issuer's right, in conjunction with the lead manager
to issue up to an additional s$100 million in principal amount of 1-year
maturity date of january 21, 2012
interest of 1% per annum
interest payment date: january 21, 2012
issue price: s$1 per s$1 in principal amount of the 1-year bonds
minimum application amount: s$2,000

b. 3-year retail bonds: 2.15% p.a.

issue size of up to s$100 million in aggregate principal amount of 3-year
bonds, subject to the issuer's right, in conjunction with the lead manager
to issue up to an additional s$100 million in principal amount of 3-year
maturity date of january 21, 2014
interest of 2.15% per annum
interest payment date: january 21 in each year
issue price: s$1 per s$1 in principal amount of the 3-year bonds
minimum application amount: s$2,000

note: if the payment date falls on a saturday/sunday and/or public holiday,
payment will be made on the previous working day without deducting any

my comments:

with the current low interest rate environment, and with consumers flushed with cash coupled with year-end bonuses, this offering should appeal to the masses and i shouldn't be surprised both issues to meet with healthy oversubscriptions. but please take note both offerings are open to cash only.

there is another option that should merit consideration in the form of sing dollar fixed deposit by icici bank ( with one of the highest yields for 12 month tenure coming in at 1.0% to 1.50% dependent on the amount deposited. and for the 36 month tenure, the yield ranges from 1.60% to 2.20%, and again dependent on the amount placed with the bank. these rates are effective from january 01, 2011 and may change without notice.

note: no vested insterests. this blog is for information only and is not meant to be investment advice. readers should consult their own legal, tax, accounting, financial and other professional advisers to assist them in determining the suitability of the products.

Wednesday, January 5, 2011

query on appointed insurance specialist?

yesterday was the first query of the year on my blog, with reference to my appointment as the appointed insurance specialist in promiseland independent,
and i quote:

"firstly, as the appointed insurance specialist in promiseland independent where i'm not only accountable to my own team of advisors but there are almost 100 advisers here and they (as well as my clientele) are given the topmost priority in all of my daily waking hours."

the reader's query is centred on the use of the title of 'insurance specialist'.

my comments:

this query cannot be dismissed and is a valid one coming in off the news (january 02, 2011) that our health minister, mr khaw boon highlighting it is wrong for tcm (traditional chinese medicine) practitioners to claim they are specialists. this is because there is no specialist tcm register currently in singapore.

back to my appointment as an insurance specialist in promiseland independent where i am currently serving in my 14th year here. although the monetary authority of singapore does not regulate the use of 'titles', my company's managing director and all our advisers have continued to draw on my expertise and knowledge of all of the insurance products available locally.

and being recognised by many insurers (being part of their focus groups to garner feedback/inputs on the enhancement of existing products and design of new products) serve to lend credibility to my role as an insurance specialist. furthermore, with continuing interviews in the local printed media as well as on the airwaves/broadcasts can only bolster my standing as an insurance expert.

but i strongly believe despite all these, the bottom line for me is to continue to gain and uphold the trust of all of my clientele and referrals and stay focused in the business. and by God's grace, i will.

Tuesday, January 4, 2011

optimum time management

this year will probably prove to be the most challenging for me in all of my time in the financial industry.

and because God is fair and everyone of us, whatever our status, is alloted the same 24 hours a day to arrange/accomplish our daily schedules. and that's precisely the issue because no one can claim to have lesser or more time in any given day/night.

and that's why time management is imperative to getting the desired results with the same given number of hours to achieving them.

why most challenging for me?

because of the many hats i wear in my role in promiseland independent, the industry and to the community at large.

firstly, as the appointed insurance specialist in promiseland independent where i'm not only accountable to my own team of advisors but there are almost 100 advisers here and they (as well as my clientele) are given the topmost priority in all of my daily waking hours.

and as a fa director, i have my own team of advisors (together with 2 other directors) and they have grown to more than 20 strong and they need me as much as all of the other advisors in my company, in terms of advice, coaching, mentoring, training, etc.

and every month without fail, i have to customise and host training programs for all advisors, be they new or seasoned ones.

on top of all these, i have my part to play in the company's management, jointly with the other directors and managing director of promiseland independent.

and there's the monthly one-to-one coaching session with my advisors which is a mandatory requirement and not to mention, attending monthly product launches, seminars, speaking engagements, etc.

and despite all these, i have given my nod to my good buddy, mr harold toh to contribute financial articles to his new venture starting soon.

my comments:

therefore, as much more is expected from me, i have to learn to optimise and execute optimum time management in my given waking hours which God has alloted to me.

but i'll like to assure readers and consumers that i'll continue to be involved in giving my 2 cents' worth to our insurance principals and actively participate in their focus groups with the objective of designing new insurance products that are not only innovative but will set the standards by which other insurers will sit-up and take notice.

and last but not least, my involvement with both printed and visual media should continue as and when required as a form of continuing education of consumers to shore up their financial quotient.

Monday, January 3, 2011

a brand new blog for 2011

i have decided to pen a brand new blog for 2011 and retire my previous blog which started in the year 2006.


chiefly because of copyright issues and perhaps hidden 'trojans' lurking in my previous blog.

my comments:

yes, there may be potential copyright issues because there's a collective 1000 over blog entries since the birth of my blog almost 5 years ago, comprising of largely cut and pasted articles from many sources from the straits times, the sunday times, today, mypaper, business times, bloomberg, etc.

and methinks, is there an easier way to resolve these potential issues by simply retiring the old one and creating a brand new blog from the current year onwards.

Sunday, January 2, 2011

here's to a fantastic 2011

well, the dawn of yet another new year and with it, new beginnings, new opportunities and new blessings. and let me take this time to wish each and everyone, the bestest new year ever.

my comments:

perhaps u may take a pause to reflect on 2010 and if so, make your new year resolutions (if this is still in fashion for u). as a financial adviser into his 14th year with promiseland independent, my sincere hope is that amongst your to-do list, make financial planning a priority and get this done and that time, is now. or if you have done yours, do keep your financial plan up-to-date by scheduling and keeping your appointments with your financial adviser. and herein is my top wish for 2011, that every individual and family would not put away doing their financial planning and keeping it up-to-date.