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Someone asked me about "reverse mortgage". He has a fully paid property and wish to use it to provide an monthly income to meet his living expenses (and for his spouse) for the rest of their life.&nbs... 10 Jan 2022, View: 673. Restricted

QUESTION FROM A POLICYHOLDER 20 years ago, I bought a whole life investment linked policy for my daughter. The agent said it was best time to buy insurance when you are young as its cheaper. &n... 26 Oct 2021, View: 1095. Restricted

A policyholder sought my advice.  The projected cash value for his policy on the 30th anniversary is $106,800. The current surrender value, which is about half a year before the 30th anniversa... 16 Oct 2021, View: 849. Restricted

A policyholder received a post sale benefit illustration (PSBI) that shows the total surrender value as $106,830.  A few months later, he recieved an actual quotation from AIA that the net sur... 03 Sep 2021, View: 551. Restricted

Dear Mr. Tan, An agent recommended the following life insurnce policy: Insurer NTUC Income My age: 53 yrs old Policy Term till 120 years old Premium Term 1 Year = $106,064.00 Plan Name - Lu... 28 Jul 2021, View: 1231. Restricted

Hi Mr. Tan I’ve a question regarding insurance and I wasn’t sure who to go to. Although I’ve insurance agents, I wasn’t sure asking them would help. I thought of you because you’ve extensive experien... 19 Jul 2021, View: 412. Restricted

Someone asked me: May i seek your view on the following: For many years, I bought home insurance from a reputable insurer.  I thought that I would be covered if the house caught fire be... 28 Jun 2021, View: 434. Restricted

Dear Mr. Tan, Is it safe to invest in resale insurance as a form of bond? I have been offered the following policy as an investment. I pay $56,427 now and will get a lump sum of $78,118 at the end... 25 Jun 2021, View: 364. Restricted

I advise older people to insure under the basic Medishield Life plan provided by the government.  The premium is quite affordable (I pay $500 a year after government subsidy) for my age 73 y... 09 Jun 2021, View: 699. Restricted

My friend, who is a doctor and over 70 years old, consulted me about making a claim under a Medishield Integrated Plan. He has been insured under the IP for over 30 years. lat year, his claim for a... 28 May 2021, View: 921. Restricted

Straits Times Editorial 17 April 2021 The committee set up by the Ministry of Health (MOH) to work towards improving the healthcare insurance system represents timely intervention in the dispute bet... 24 May 2021, View: 34. Restricted

Here are the financial results of the Medishield integrated plans for 2018, based on the returns submitted by the top 5 insurers to the Monetary Authority of Singapore.  Based on the tota... 24 May 2021, View: 832. Restricted

An insurance company is marketing a "wealth policy" to me. I have to pay 30% of the single premium and the bank will provide financing for 70% at an interest rate of SIBOR + 0.9% per month. ... 17 May 2021, View: 425. Restricted

Mr. X passed away leaving a daughter who is a minor. Many years ago, he took a life insurance policy with a sum assured above $200,000. He named his sister as the beneficiary. He and his wife was divo... 13 May 2021, View: 325. Restricted

This is another example of insanity. Did Prudential lose $2.5 b... 08 May 2021, View: 113. Restricted

Tesla's financial results will be released after the close of the market on 26 April. The EPS (earning per share) for Tesla for 2020 was $0.79. Based on the current share price of $729, the PER (pr... 26 Apr 2021, View: 242. Restricted

I give my views about home insurance - what to cover, and how much premium to pay. When you buy home insurance, you need to consider the following: a) What is the amount of insurance? You hav... 21 Apr 2021, View: 205. Restricted

This is how a customer can analyze a cancer insurance policy - is it worth while to buy the policy? Take the following case study. a) The insurance agent recommends a customer to buy a insurance... 18 Apr 2021, View: 231. Restricted

Someone sent to me the benefit illustration of a 10 year term policy with cancer protection. He asked for my views if he should buy the policy. TKL answer: Can you ask the agent to explain the ben... 17 Apr 2021, View: 168. Restricted

Dear Mr. Tan Should I buy this cancer insurance from NTUC Income? REPLY You must find out the following: 1. How much does the insurance cost? 2. What does it pay to you in the event of a cl... 17 Apr 2021, View: 291. Restricted

This Today article explains the quarrel between the Life Insurance Association and the Singapore Medical Association over the use of exclusive panels for submitting claims under the integrated plans. ... 31 Mar 2021, View: 293. Restricted

Dear Mr. Tan Someone recommended me ( 62 years old) to buy the AIA Power Critical Cover. It covers 150 conditions for ALL stages. For $50k sum assured the premium is $4899pa. There is a multi ... 24 Feb 2021, View: 377. Restricted

According to this webpage, CPF has appointed Great Eastern Life to be the sole insurer for the CPF Dependent Protection Scheme.  An enhanced DPS scheme will take effect.  The coverage ... 09 Feb 2021, View: 89. Restricted

A policyholder has two insurance policies. She asked me to look at the coverages of these policies and help her to decide which policy to keep and which to give up. She needs to reduce her budget. ... 06 Feb 2021, View: 141. Restricted

An elderly woman invested $100,000 in a complicated life insurance policy that pays a monthly income starting from the sixth year. She was given almost 50 pages of document that describe the contra... 22 Nov 2020, View: 126. Restricted

In the past, the owner of a life insurance policy has to surrender the policy to the insurance company and receive the surrender value. The owner now has an option to sell the policy to an intermed... 22 Nov 2020, View: 118. Restricted

Dear Mr Tan, Lately, I came across a group of financial consultants who claim to be in the business of buying other people's policies at 10% above the surrender values. They then re-sell these prod... 22 Nov 2020, View: 131. Restricted

An elderly lady went to a bank. The bank officer introduced her to a "retirement policy". It is a 16 year policy issued by a foreign company.  The bank officer told her that she can get out he... 19 Nov 2020, View: 130. Restricted

My friend told me that he heard of a case where a patient was treated in a private hospital and the bill was over $1 million. About 80% are covered by insurance. The patient died. Guess who pays fo... 19 Nov 2020, View: 125. Restricted

The global stock markets are volatile. While the stocks are doing well, there is a risk of a crash when the stock market reflect the real economy and the high unemployment rate.  Is it safe to... 17 Nov 2020, View: 124. Restricted

Someone called me. He was very disappointed with a decision of FIDREC on a dispute with an insurance company. He asked me if there was any avenue that he can pursue. He could not disclose the detai... 12 Nov 2020, View: 111. Restricted

FWD Insurance overs the Term Life Plus insurance cover. Details of the cover can be found here: Link I obtained the following quote for a Male, Non smoker     Term S... 06 Nov 2020, View: 128. Restricted

A member asked me how an insurance company will treat a claim for dementia as a critical illness. He said that his wife has early stage dementia and is often forgetful.  I said that this sy... 06 Nov 2020, View: 119. Restricted

Mr. Tan,  You are an expert in health insurance. What are your views about the proposed increase of up to 35% in premium for Medishield Life. Is it justified? Reply From the information that... 07 Oct 2020, View: 130. Restricted

Hi Kin Lian, I have been buying for myself and my dad for the past 13 years of Enhance Incomeshield with the  best rider.  However since the introduction of Medishield Life, the privat... 19 Sep 2020, View: 130. Restricted

I have advised elderly people to stay with Medishield Life and not upgrade to an integrated plan. Let me explain why. I am now insured under Medishield Life. I am 72 years old. My annual premium... 03 Sep 2020, View: 123. Restricted

Mr. L approached me on an urgent basis. He needed to meet a deadline as the insurance agent told him that the insurer will be reducing the coverage under the critical illness cover after the deadline.... 24 Aug 2020, View: 137. Restricted

Here is the Zoom video recording of the talk. It is slighly over 1 hour.  Click here. Correction: In the early part of the presentation, I said that the PE ratio of Alibaba was 750 times. It ... 19 Aug 2020, View: 570. Restricted

Miss X bought this policy 9 years ago. She asked me if she should continue or give up the policy. Here is my reply. Here is my analysis of the policy. By the end of 10 years, you would have paid ... 29 Jul 2020, View: 294. Restricted

NTUC Income offers its policyholders the option to convert an whole life or endowment policy into a life annuity by giving an enhanced surrender value for the conversion. When exercising the conv... 26 Jul 2020, View: 241. Restricted

The policyholder took this policy 5 years ago. She asked me if she should continue the policy. I looked at the benefit illustration issued at the point of sale. The surrender value projection is sh... 13 Jul 2020, View: 396. Restricted

The policyholder took up this Term policy 5 years ago. She is now 30 years old. She asked me if she should continue the policy, as it does not provide any return on the expiry date.  I gave he... 13 Jul 2020, View: 404. Restricted

Dear Mr Tan Please see attached table of premium rates from NTUC Income for its IncomeShield Rider Plus 2017, 2018, 2019. I would like to draw your attention to the age group from 51-55. The prem... 24 Jun 2020, View: 337. Restricted

Praising the government for doing creating a complicated scheme Someone asked for for advice about medical insurance for his family. I suggested that he should stick to Medishield Life, which is provi... 13 Jun 2020, View: 154. Restricted

Dear Mr Tan, I purchased this policy when I was 25 years old, until age 99. This means: Total 74 years to pay With $2,604.36 annual premium, total output is $192,722.64 till age 99 ... 25 Apr 2020, View: 552. Restricted

Dear Mr. Tan  I paid $112,234 for my whole life insurance premium for 34 years, I can get back $170,000 if I surrender the policy, does that mean the yearly yield for this policy is 5.1%? Thank ... 18 Apr 2020, View: 65. Restricted

Most claim officers, including those who have been in the industry for a few decades, carry the wrong mindset towards insurance claims. Whenever an accident or disaster occurs, they get depressed abou... 30 Jan 2020, View: 83. Restricted

Dear Mr Tan, I read a number of complains about a particular airline not willing to waive cancellation or rebooking penalties for people who want to defer or cancel their trip to Hong Kong (not China... 30 Jan 2020, View: 38. Restricted

Some insurance companies offer investment policies that guaranteed a high rate of return. When the investment return drops, due to economic situations, they suffer a large financial loss.  Thi... 17 Jan 2020, View: 84. Restricted

My friend told me that two large state-owned insurance companies in Indonesia are in financial difficulty. They issue "investment policies" that guaranteed a high rate of return, more than 10% per ... 17 Jan 2020, View: 33. Restricted

I have seen many cases of consumers being denied legitimate claims due to alleged non disclosures. I ask the regulator to study this matter and get insurers to adopt a code of practice that is fair to... 12 Jan 2020, View: 21. Restricted

Mr. X asked me for help. He had two policies which he kept for over 20 years. A new insurance agent advised him to terminate these two policies as the cash value was higher than the sum assured, ... 31 Dec 2019, View: 33. Restricted

A woman called me. She wanted to engage me to help her to deal with a problem. 20 years ago, she took a loan on her life insurance policy. The loan carried an interest rate of 5.5%. She did not rep... 27 Dec 2019, View: 22. Restricted

An elderly woman went to a bank. The relationship manager (RM) introduced her to a life insurance policy. He asked her to invest $300,000 into the policy for another 40 years. The woman approached ... 27 Dec 2019, View: 37. Restricted

Hi Mr Tan I insured with NTUC Income medical insurance under the Enhanced Preferred plan with rider scheme, whereby I am entitled to seek medical help in any private hospital. I am over 70 years o... 14 Dec 2019, View: 21. Restricted

Dear Mr. Tan My hushand has multiple policies taken out under section 73. The beneficiary is his ex wife. She has since refused to take out her name under the policies. What can we do? REPLY Sect... 07 Nov 2019, View: 69. Restricted

I received this email and got the permission to share it. Dear Mr Tan, I am writing to you to seek your opinion as a veteran in the insurance industry. My wife "KMM" bought an AIA life insurance w... 30 Oct 2019, View: 51. Restricted

Many people have a personal medical coverage (Medishield or integrated plan) and also a group medical coverage provided by the employer. It can be quite confusing when they make a claim for a hospi... 27 Oct 2019, View: 121. Restricted

My friend paid $800 for a complicated surgery to re-attach a torn ligament in his arm due to injury caused by excessive bowling. He went for subsidized treatment and also used his medisave account t... 10 Oct 2019, View: 21. Restricted

A lawyer approached me for help. His client had a $70,000 medical bill rejected by the integrated plan insurer on the grounds of non disclosure. The agent did a bad job and did not fill up the medical... 10 Oct 2019, View: 84. Restricted