What is it that we dont know about personal insurance?

I wonder how Sinigapore has become one of the fastest elderly
growing population in the world.  Either our medical system has
enabled the elderly to live longer or we just eat good food, and live longer
than our grand-parents.  The baby boomers are reported to be
richer and will be better financially than future generations.  Our
age group is believed to be better prepared for old age and retirement.

Many of us have some form of personal life and
health insurances.  I like to raise this topic for discussion, so
that all of us get a chance to share what we know or dont know about the
insurance policies we have kept somewhere under our pillows.

Let’s focus on personal, health and accident policies. 
Keep out corporate insurance. 

This topic can be sensitive, especially those policies
paid out of our CPF.  But, please stay cool.  I
hope we can benefit from better understanding of our insurance
policies.  Let’s talk about choices, differences of the different type
of policies.  Please do not copy wholesale from the web. 
Keep your comments short, and in easy understandable English or
Chinese. 

There may be some insurance experts around us, your
contribution is invited.  We share.

Terence Seah    

Author: Terence Seah

Founder

4 thoughts on “What is it that we dont know about personal insurance?”

  1. I like to start with asking for your views about CPF Life. First, I must declare I have not signed up for CPF life. I guess it’s because I have not read the concept in detail.

    If you had benefitted or not benefitted from CPF life, please share your experience.

    Terence Seah

  2. Hi Terence

    I think you have asked about CPF Life before… just read the CPF brochure and it’ll explain what is involved.

    I believe that CPF Life was started because not many Singaporeans can accumulate the Minimum Sum scheme of S$135,000 or more in the years to come when they reach 55 years.

    The CPF Life scheme provides a subsistence level of guaranteed monthly payments for your retirement years for those who may not have accumulated enough savings.

    What makes CPF Life, CPF Annuity under the Minimum Sum scheme and private annuities unattractive are the very low monthly payouts due to the low interest rate environment.

    I think the best decision is to finance your own retirement through your personal savings/investments and use CPF Life or CPF Annuity to supplement it.

  3. “What is it that we dont know about personal insurance?” And so Terence has asked.

    Plenty.

    For me, we need a good President above politics and politicking otherwise I wont feel that me and my folks are adequately insured.

    The 4 President hopefuls are all Tans and one must be elected as the next President. In short, ETs.

    One hails from the insurance industry. Literally, he’s a safe bet.

    Another seems to be stirring up the ground. To stoke emotions is to play with fire. This is one guy I’d like to drink tea with, and keep him drinking tea for the rest of his life.

    See, and rather Say, no President can work outside of the Constitution.

    You can tell the people what you will do and when you try to do anythg you’re not empowered to, you get into a situaion of tension.

    Then you go back to the ground…….and fan a groundswell?

    You put the country in a turmoil. Not smthg sensible to do esp when the world economy is reeling south and this tiny red dot wont be spared the onslaught of a recession.

    Ayam? Hmmmm, doesnt sound nice to me so I will go for any ah lian ah bock.

  4. With the sky overcast with haze, it’s unlikely to sight the beautiful moon this Mid-Autumn Nite. Might as well since hell is raging with so many whos, whats and hows.

    1. Who the hell but a thoughtless idiot would advertise its colon insurance as a cheap sale? Isnt it nice if these people are themselves struck with this dreadful cancer and benefit from their own sale ? Be mindful with captions; there’s dignity and a heart for sufferers in sales.

    2. How the hell did we lose 0-2 to desert raiders Iraq playing at home on artificial grass which we lay ourselves for our players to play? Why the hell train to play at heights to acclimatise when they apparently were all chewing grass while training at home.

    3. What the hell is this beanpole doing in China? With his so many boo-boos enough to fill a wikipaedia of gaffes, all I can see is that he is having a holiday – fully paid – in the middle kingdom on the middle of autumn. The lanterns there are rounder than backsides and the gals are sweeter for a reunion.

    4. What the hell has become of our men in blue? They caught 92 suspects out of whom were 87 women. It’ll certainly make their counterparts north and south green with envy what a easy swoop it was with the women white with fear and hiding their heads btwn their legs and looking into their short skirts in a meek surrender?

    Meanwhile, the loanshark honchos are swimming in spas to tone their bodies to make more money.

    The elements from Hades must have infiltrated? If so, that wd solve the mystery behind the “Jetsetters”.

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