Wednesday, December 21, 2016

Is it good to buy Eldershield or its supplement?

Leong Sze Hian wrote an article about Eldershield. $90 million were paid in claims but the total premium and accumulated interest amounted to $3,000 million.

Someone said that a minister had explained that the payout is low because the insurer needs to build up a reserve for future claims.

Do not believe this minister (I don't know who he is). Even after allowing for building up the reserves, the premium charged for Eldershield is too high.

Read this article.
http://www.tankinlian.com/Info/947/Info/947/Should-a-consumer-buy-Eldershield-or-opt-out-of-this-plan?

If an insurer ask you to buy a supplement for Eldershield, you should decline. Here is the explanation.
http://fisca.sg/Info/316/Should-I-buy-an-supplement-to-Eldershield?

No comments:

Blog Archive