NTUC Income Change of Servicing Agent

Recently, I've encountered several requests from friends and clients asking if they could appoint their servicing agent or FA (Financial Adviser) to me as for some of them; the insurance intermediary has left the company or industry, so I'm now attaching this form in case anyone else who is unhappy with their current servicing financial adviser or representative or may not have an individual to give the personal touch and explain the insurance terminology and jargons to you; just feel free to fill up the attached change of intermediary form from NTUC Income. You can mail the completed form, using this reply envelope.

Please also assist by filling up your name, identity number and your NTUC Income's policy number and sign plus date the form and then email it back to us here. We will return call to you and collect the completed document as soon as we can.

The policies that can be transferred are NTUC Income's :

• Motor Policies
• NTUC Incomeshield/Enhanced Incomeshield policies (Medishield Integrated Plans)

Feel free to contact us if you want to verify if transfer is allowed for other policies not indicated above.

Use Your Child's MediSave Account To Pay Their Aviva MyShield Premiums

Aviva Singapore is pleased to inform you that you can now use your child's MediSave account for your child's MyShield premium payment.

CPF MediSave account grants for newborns

To support parents with their children's healthcare needs, the Government is creating a CPF MediSave account for all newborns who are Singapore Citizens born on or after 26 August 2012.
In this account, parents will receive the $3,000 grant in two equal tranches. The first $1,500 will be deposited after the registration of the child birth, and the remaining $1,500 will be deposited in the subsequent year if the child continues to be enrolled in MediShield or a MediSave-approved Integrated Shield Plan. This grant can help parents pay the costs of their child's MediShield premiums, as well as other healthcare expenses such as vaccinations. To find out more details, please visit this site.

How does it work for Aviva's MyShield?

You can apply for the MyShield plan after the grants are credited no later than 4 months of child birth. The crediting of grant will depend on how soon you, the parents register for the child's birth. If the you wish to cover your newborns soon after birth, the first premium will have to be paid from the parent's MediSave account and thereafter you could change the deduction to the child's MediSave account.

Important point to note: The use of child's MediSave account is only for his/her own MyShield policy. The parent/legal guardian must be the same person as Proposer/Insured of the policy.

To apply via Child's MediSave Account: You (the parent/legal guardian) will have to submit the authorisation form along with the new business application form. (contact this adviser for the forms)

Existing policy holders of Aviva: can also opt for deduction of their MyShield premiums from their child's CPF MediSave account upon renewal. They too will have to submit the authorisation form. This option is only available for renewal from 1 August 2013 onwards.

TM Infinite VIP - Continuous Retirement Annuity for Life

Whether it is an annuity that you are looking for or a legacy you wish to leave behind for your TM Infinite VIP via its distribution channels like the banks and direct agents and the take up rate of this product has been fast & encouraging that the policy will probably be pulled out soon when the tranche has been reached. (This could be seen with its sister product, TM Legacy VIP which was pulled out on 21 July 2014).
children or grandchildren; for the past year since May 2013, Tokio Marine Life Insurance Singapore (TMLS) has been selling a single premium plan known as

In any case, the surviving TM Infinite VIP runs on a simple model:

1. Minimum Single premium of S$133,350
2. Gets you a payout of S$500 EVERY MONTH after 5 years (credited monthly into a S'pore bank account)
3. The payout continues as long as the assured is alive
4. Should Death occurs, 101% of Single premiums paid + Non Guaranteed Terminal Dividend
5. Minimum age 1 year old next birthday
6. Maximum age 70 year old next birthday

      TIPs

• If you want more payout, just multiply accordingly (eg $266,700 gets you $1000 monthly payout)
• Greater advantage will be to buy on the life of a young child, since payout continues as long as assured is alive.
• Good option to prepare for a child who will be going to University as their MONTHLY living expense.

Did I mention that you can get your capital back* ? Ask for a proposal and take a look yourself!

* Conditions apply

AIG Motor Insurance - Clearing the Confusion

AIG has recently launched their budget motor insurance plan known as AutoValue to match up with their competitors' low rates... but with so many plans within the company, many of us will certainly ask the same question: WHAT'S THE DIFFERENCE??

So, after numerous requests from intermediaries for clarification, here's the comparison table to demystify the air for all. The difference in benefits between their Autoplan, Autoplus and Autovalue motor insurance within AIG Singapore:

 

Do note that the loss of use rider is only applicable when there are available cars in the workshop you go to at the time of incident. It is NOT a guaranteed entitlement!

If you currently do not have a servicing agent for your car insurance, feel free to contact us here.

TM FlexiAssurance - The Answer To Your Investment Linked Policy (ILP) Woes?

When TM FlexiAssurance was first launched; it seemed to be another run off the mill ILP product; until you attempt to dissect it and then the policy's benefits will thus slowly surface.

In fact, we will not even attempt to call it an investment linked plan but to use the alternative name of a unit linked policy seems more appropriate, as the focus is not so much on making massive returns from the product but rather to have respectable coverage with the mortality charges being level unlike other unit linked policies in the market which only sell plans with increasing mortality charges (this serves as a BIG benefit for the more matured audience!) In a nutshell, here are the pros and cons of TM FlexiAssurance (please refer to policy wordings for actual details) :

• Level Mortality Charge (benefiting the matured clients).
• No premium holidays allowed during first 2 years.
• No surrendering of policy or partial withdrawal of units during first 8 years, else it will incur surrender charges .
• Free Fund Switching.
• Loyalty bonus units given for keeping the policy in forced every 5 years.
• Both optional premium paying or Unit deducting riders are available. (with the latter, it does not cause policy to lapse in bad times).
• Low minimum entry premium of $125 per month.
• Available in 2 coverage options  (till age 70 or 99).
• Invests 100% of your premiums (some companies only start investing the full amount many years after policy is in force)...read up more on front end load and back end load ILP
• Flexibility like Top-ups, partial withdrawals and premium holidays are also available as with all ILP products. 
• Riders like the accelerated Dread Disease is unit deducting and will not lapse when you are taking a "premium holiday" (as long as there are sufficient units in the policy); unlike many other companies which will automatically terminate ALL riders the minute "premium holiday" is activated!

For those who are not certain about the features of such policies and are often mislead by the majority who coin the term "risky" on investment linked policies; maybe the following illustration (courtesy of TMLS TM FlexiAssurance brochure) can show you the benefits of  ILP or Unit Linked Policies:

If you want to know more about this fantastic policy and how it can serve your need, contact us!

The Rising Retirement Problem of Singapore and A Unique Solution!

Finally, a product being launched once again by the ever innovative Tokio Marine Life Insurance product development team to address our greying population. In the recently concluded National Day Rally 2014, Singapore's Prime Minister did highlight the use of the lease buyback scheme of the HDB and Minimum Sum Requirement's (MSR) annuity program to meet the needs of the country's Silver Generation.

However, for many, it might not be sufficient to retire with (as voiced by TMLS's CEO-click on image on right)
Well, all is not lost as the company is the 1st to launch a similar annuity program which u can pay by installments, instead of a huge lump sum to achieve your aim and more importantly, spouses can also be covered! Another great  feature  is that you can now start planning for your retirement at a younger age with TM Retirement Paycheck Life (Click on the image below)!

Will just let you read the newspaper cuttings for what the product can do; in the meantime, if you want to know more, please contact us NOW!

Product Withdrawal of TM Legacy VIP by 21 July 2014

All good things do come to an end as one of the hot selling plans for High Net

Worth individuals are being pulled out due to revisions to the insurance regulatory framework in Singapore.

As quoted in a letter from the management in Tokio Marine Life Insurance Singapore ... "If the proposed capital requirement calibrations were adopted,  products that rely heavily on taking investment risks to generate adequate returns, will become unsustainable."

So if you have been procrastinating to get a TM Legacy VIP policy; take action now!

Contact us here