Saturday, April 22, 2017

Is the coverage redundant?

I am currently insured under a 10 year Term insurance policy which covers death and permanent total disability. Total disability is defined as "complete and continuous inability of the Insured at that time and at all times thereafter to engage in any business or occupation or perform any work of any kind for remuneration or profit"

I am also covered under a supplementary Eldershield policy which pays on severe Disability. This is defined as "inability of the Life Assured to perform at least 3 of the following activities of daily living, even with the aid of special equipment and always to require the physical assistance of another person throughout the entire activity (washing, dressing, feeding, toileting, mobility, transferring).

Is the coverage under Eldershield redundant? If I am able to claim under Eldershield, would I also qualify to claim for permanent total disability under the Term insurance policy?

My reply is given here:

Changing money at Changi Airport

I share this experience of changing money at Changi Airport. It will be damaging for the reputation of Singapore. We take a few decades to build up a good reputation, but this is now being destroyed. Once destroyed, it will take a decade to regain it.

Wednesday, April 19, 2017

Retirement income poilcy

I analyzed a retirement income policy recently and was surprised that it is just a fixed term annuity and not a life annuity. The yield on the policy is between 0% to 4%. (Actually, it is difficult to calculate the yield as there are so many uncertainties and variables).

The policyholder could have obtained a better return by investing on his or her own in an indexed fund.

What is the value of this retirement income policy to the consumer? Virtually none! It's value is to create a way for the agent to earn a high commission and the insurance company to make a large profit, at the expense of the consumer.

Election of Jakarta Governor - relevance for Singapore

Jakarta is holding the 2nd round election of the governor today.
The top two contestants in the 1st run (Ahok team and Anies team) will now participate in the 2nd round election. Good luck to both teams.

Indonesia has a good system to elect their governors. If the 1st run does not produce a clear majority of 50%, the top two candidates will compete in the 2nd round.

Singapore should adopt this system for the election of the Elected President. This will ensure that the final person who is elected has the votes of more than half of the voters.

The worst case is to have an Elected President who won through a walkover, right?

Performance score for minister Yakoob Ibrahim

The performance of minister Yaacob Ibrahim is now ready for viewing. What is his average score compared to the other ministers? You can see the results here:

Tuesday, April 18, 2017

TKL websites

The new normal under LHL government

I visited the health center at Grassroots Club.

TKL - Are all the facilities working today>
Staff - Yes.
TKL - What about the cold pool?
Staff - Oh, it is still out of order.
TKL - You said that all facilities are working?
Staff - The cold pool is out of order. The rest are all working.
TKL - ?????

Okay, this is the new normal under LHL government. We do not count those out of order, okay? Like train breakdown now and then - don't count okay? The rest are all working.

Win attractive prizes by voting here

Vote on 10 issues at the Crowd website and win an attractive prize - Financial Planning for Young People (usual prize $6). Win a new prize for each additional 10 votes.

Monday, April 17, 2017

Pay premium over a shorter period

Mr. Tan
An insurance agent advised me to buy a life insurance policy with a premium payment period of 15 years. He said that I should not pay for a longer period, in case I lose my job.

What is your advice?

This requires a more detailed explanation. Read this article

Relative performance of six ministers

The voting on ministers have now closed - Khaw BW, K Shanmugan, Lim SS, Gan KY, Ng EH and Chan CS. Which minister performed best among them? Which minister performed the worst?

Make a guess and then check the results at

Performance score of ministers

The weighted average of the performance score for the ministers can now be viewed at

Do you agree with the votes of the Crowd?

This is based on a self-selected sample and is not reflected of the views of the population.

Performance of defense minister

How did the Crowd vote the performance of defence minister Ng Eng Hen?

Not bad, compared to their votes for the other ministers that were voted earlier.

You can see the weighted average score of the ministers at (now under development).

Lee HL as Elected President?

Issue - If Lee HL stand for elected President after retiring as PM, will the people vote for him?

You can view the voting of the Crowd at

Sunday, April 16, 2017

Buy an annuity

Mr. Tan
Do you have any tips on which type of annuity to buy, and which to avoid?

You can search for "Annuity" at
Here is the link:

Prizes - two spiritual books

You have been receiving financial books as prizes for submitting votes in the Crowd website.

The next two books, after reaching 40 votes, will be spiritual books. It will be a refreshing change.

Several participants will be eaching this level soon.

An alternative way to award jobs - lesson for Singapore

Singapore relies on the tender system to award jobs. This has some advantages, but the disadvantages are often overlooked. We are now seeing the outcome of this bad approach - low quality of work, delay in completion and high cost.

Is there an alternative method of awarding jobs? There is, and it has proved to be successful in several fields.

Candidate for a reserved presidential election

What should be the criteria for a candidate to qualify under a reserved presidential election?

Should both parents come from the reserved ethnic group? Is it acceptable if one one parent come from the reserved group, i.e. a mixed marriage? Should the spouse also come from the reserved group?

You can see the results of the voting by the Crowd here:

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