Considering cost and coverage

Dear Mr.Tan:
I am considering to buy health insurance policy in singapore. I have done some research, I found that there are total 5 insurance company which have the medishield upgrade plan. Those are covering hospitalisation. out of 4 of the insurance company provide 100% cover for medical expense. and only NTUC-INCOME cover 90% of hospital bill.
How do you think the 100% cover and 90% cover? When we choose health insurance what should we need to take note?

REPLY
You should consider the premium that you have to pay as well. The difference between 100% cover age and 90% coverage is small. The difference in premium should not exceed 10%. Read my views about Shield coverage in www.tankinlian.com/ask.aspx (search for "Shield" or "Medishield.)

Bumped into TKL website

Hi Mr Tan,
Bumped into your website resently. Found that you have put up a lot of useful educational materials which I believe will benefit a lot of people like me, who are not very financially literate and who would like to take better control over their personal financial matters and don't quite know how to do it. Thanks for the effort and keep it up!

REPLY
You can buy my book on financial planning (www.tankinlian.com/ishop)
or attend the educational talks organiserd by FISCA (www.fisca.sg/events)
or visit my blog (www.tankinlian.blogspot.com)
or website (www.tankinlian.com).

FISCA Talk on Insurance - follow up questions

Dear Mr.Tan
Thank you for your talk and very useful advice for us on buying insurance.

1. Seminar Talk - Exercise 3. Earn interest 4% per annum, How much is the total contribution plus interest over 35 years? (Factor to be used is 73.65) Question: a) How to get 73.65 ? b) How to get 1,272,672?

Reply
Read this FAQ:
http://tankinlian.com/admin/file.aspx?id=307

3. Mr.Tan, you have the best price for those PA and Term plan with less than $500.
Could you give me some insurance company ? I will find out and compare the price to less than $1,000. with insured 1million. From my record, I have asked some insurance companies and agents, they quoted me the price were more than $2,000. with insured 1 million.

Reply:
Read this FAQ:
http://tankinlian.com/admin/file.aspx?id=116
http://tankinlian.com/Admin/File.aspx?id=62

Selection of International Songs

Songs reflect the best of any language or culture. For a song to be popular, it has to be written by the best writers and musicians of that culture. I have selected a few of my favorite songs around the world. Here are the lyrics of the song in the original language and the translation into English. I find that it is enjoyable to learn a language and the culture of a people through its popular songs.

www.tankinlianj.com/latest.aspx
http://tankinlian.com/admin/file.aspx?id=324

FISCA Talk - Consumer Guide to Insurance

The talk was held on 18 December 2010. It was well received. Here are some feedbacks:


Dear Mr Tan
I attended your  talk today ( and also the previous talk on investing for the long term). I believe Fisca and what you are doing is invaluable and it is very tragic re how poorly regulated financial services are in Singapore. Is there any way more people can get to know about financial literacy? I feel more people especially the old and less literate  should be protected against these scams. Like holding more talks  on a much larger scale? But I suppose it is a behemoth of an industry you might be up against.

Dear Mr Tan

Thanks for the illuminating talk on financial planning and insurance today, I've learned how to derived the costs of insurance as a result of your talk.  Thanks for your work in helping to educate and inform ordinary consumers like us.

More talks

I will be holding more talks on this topic. You can register at www.fisca.sg/events

Attendees of the talk can click here to download the zip file of the relevant FAQs from the TKL website. Here is the outline of the talk, but it is better to attend to talk.

Tan Kin Lian

BEST Business Game

Practice and develop the skill of pricing, marketing and stocking - the essential skills to run a profitable business by trying this game. Click on Video to see a demo of how the game is played and the strategy to follow. There are several games every hour, covering several industries. Each game should take 1 hour to complete.

Use Excel to calculate yield

I gave a talk on "Insuring your Financial Security" under FISCA. If you invest in a life insurance policy, you should aim for a yield of at least 3.5% per annum over a period of 25 years. You can calculate the yield using Excel. It is explained in this FAQ.