Home Contents Insurance In Singapore

Was on Youtube the other day and came across this video with a catchy tune. After watching it, realised it was about Home Contents Insurance in Singapore and the company? Chubb Singapore (not the security system). Here's the video:


Here's some benefits of the Home Contents Insurance (courtesy of Chubb Group of Insurance Companies):

In the unfortunate event that your cherished valuables are lost, stolen or damaged, the last thing you want to hear from your insurer is that they are not insured for their true value.

Chubb’s Masterpiece insurance is designed to provide the best protection available for your most valuable possessions, including:

• fine art/antiques
• jewellery
• wine collection
• rare books
• manuscripts
• silverware
• furs
• china and crystal
• musical instruments
• stamps and coins
• cameras

Masterpiece also offers you cover for your valuables that most standard insurers can’t match. Following are just some of the unique benefits of insuring your valuable articles with Masterpiece.

Itemised cover
This allows you to list items in your collection separately from your contents cover. This way each item you list will be insured for an amount determined by you.

Blanket cover
If you don’t want itemised cover, we can tailor a programme that covers every item under one blanket limit with specified limit per item. So if you have a loss, your valuable item/s will be replaced or repaired up to the insured limit.

Loss in market value cover
If a valuable with itemised cover is damaged and suffers a loss in market value as a result, Chubb will pay for the reduction in market value up to the insured amount.

Pairs and sets cover
Often valuable items form a part of a pair or set. With Masterpiece, if one piece of an itemised pair or set is lost or damaged, we will cover the replacement cost of the entire set. All we need is the remaining piece(s).

Automatic Coverage for New Acquired Items
With Masterpiece, immediate cover for newly acquired valuables is provided for up to 90 days, to a value up to 25% of your existing schedule of itemised valuables.

Optional cash settlement
In the unfortunate event a valuable item is irreparably damaged or lost, you can choose to take cash rather than replacing if it suits you better.

Worldwide cover
With Masterpiece your valuables are automatically covered wherever you take them in the world.

Tokio Marine Life Insurance Singapore Withdraws Term Products

Looks like something is brewing over at TMLS, as the company is now withdrawing more of their Term plans. This is the 2nd time they are doing product withdrawals in 2012, the details of the first product withdrawal can be found at this link.

Maybe it's just renaming of their products and like many insurance companies, to use the opportunity to revise rates and benefits?

Well, whether it is for the better or worse, we will know when we get the hands on the new products, named as TM Term Assurance and TM Enhanced Term Assurance (with Dread Disease cover). Will cover more about them in a later post. For the records, here's the official letter on the withdrawal of TM Well being, TM Peace of Mind and TM Business Continuation.

TM Enrich is given a new Facelift

OK, this post is about a month late, but better late than never.

Tokio Marine Life Insurance (TMLS) did some revamp to one of their products, TM Enrich. Quite expected since the current economic outlook is not too rosy. Nevertheless, it still beats the Fixed Deposits of banks out there. Check out this page for the details. Well instead of repeating what Tokio Marine has mentioned, here's the announcement straight from the horse's mouth:

TMLS Appoints New Chief Executive Officer

Effective 1 May 2012, a new beginning has commenced for Tokio Marine Life Insurance Singapore (TMLS), as they appoint a new CEO, Mr Lance Tay  to the helm.

Mr. Lance Tay joined TMLS in 2010 as the Head of Partnership Distribution where he w as instrumental in strengthening TMLS’ position as one of the leading life insurance product and service providers to financial advisory firms in Singapore.

He has over 27 years experience in the life insurance industry and has held various senior positions in Singapore and the region. Before joining Tokio Marine, Lance held a number of key positions in Singapore and the region, including Deputy CEO & COO of John Hancock Singapore and as Chief Marketing Officer of AIA Singapore.

Mr. David Beynon, who has led the business in Singapore for 22 months, has been appointed to the role as the President Director of Tokio Marine group’s new life business in Indonesia, which will operate officially as PT. Asuransi Jiwa Tokio Marine Indonesia.

Mr. Winson Yap, the current Head of Bancassurance, is promoted to the role of Chief Distribution Officer, reporting directly to the CEO. He will assume oversight of the individual life business development and training aspects of the Agency, Bancassurance and Partnership Distribution Departments.   In his new role, he will continue to actively engage the FA firms in maintaining our market leading position, embark on a focused strategy to grow the Agency force and also strengthen our Bancassurance presence in Singapore.

Ms. Margaret Chang, who is the current Head of Insurance Operations Division is re- designated to Chief Operations Officer, overseeing Underwriting, Claims, Customer Services and Change Management Departments.

A noticeable loss for Tokio Marine, will be Mr. Brian Hannan, as he steps down from his current position as Senior Vice President and Head of Agency Distribution

Tokio Marine Withdraws Products

In case you have not heard of the news: Tokio Marine Life Insurance Singapore (TMLS) has decided to withdraw a few of their products with effect from 18th May 2012. They are :

1. TM Peace of Mind (MoneyBack)

2. TM Mortgage Protection (Single Premium-Single Life)

3. TM Mortgage Protection (Single Premium-Joint Life)

4. TM Mortgage Protection (Single Premium-Dread Disease)

Customized Birthday Cards To Send Out

Having been in the insurance industry for so many years, a passion which I used to have before I became an insurance agent was to write my heartfelt thoughts and appreciation to my friends, clients and loved ones. However, as my clientele base grew over the years, sending out birthday and festive season cards became somewhat like a chore.

Not till of late, did I discover an impressive way to send out customized birthday cards through this online automated card system. The beauty of the system is that it is dummy-proof and more importantly, it produces good quality cards at prices lower than those you get from the shelves. You can even add customized photos and handwritten messages, so that it will not seem "commercial-like". For those of you who are in the service industry and want to touch base with your clients, try the system out as well, since you can even earn a passive income from it!

So whether you are a birthday card sender or recipient, sendout-card.com has something for you!

Who Do You Buy Your Personal Accident Insurance From?

Strangely enough, many individuals never spared a thought when it comes to purchasing of Personal Accident (PA) Insurance, maybe because the premiums are always in the miniscule range of S$10-15 per month. Ask yourself; how many times have you given in to "over the counter" bank staff, telemarketers promoting PA policies to you and won't take "No" for an answer?

However, do you even know what you have bought after that verbal commitment?  To make matter worse, what if there's a claim? Are you willing to be put on hold whilst doing a follow up on the status of your personal accident claim? Why not give that $10 per month to your insurance agent and let him/her do all that work for you and in fact give you the proper advice, rather than a telemarketer or bank teller, who is just "programmed" to sell and they are not even qualified nor trained in the insurance/financial industry! I asked some of my clients who bought such policies over the phone or through credit card companies why they did it and their reply? "It was such a small amount, so I didn't want to bother you!" Well to all my friends who are reading this, my answer to that is "Every drop makes an ocean" and I want to make sure you are wholly served by yours truly and not just on a partial basis, because if that happens, I only get a partial view of your financial situation.

OK, with that out of the picture..if you are looking for a real value for money personal accident plan in Singapore, I strongly recommend QBE PA Extra because they offer very good rates for high coverage and has loads of "freebies" thrown in with no deductibles.

Many people often think that the Australian based QBE handles mainly marine insurance, but didn't know that they do medical and personal accident policies as well. If you want to have more details on their PA plan, do visit this site for the brochure.