Tuesday, 28 February 2012

www.areyouready.sg - Taking charge of Your healthcare Costs

Dear CPF Member

Whichever stage of life you are in, now is the time to take charge of your healthcare costs!

Join our talk to gain valuable tips on the financial aspects of healthcare.

Representatives from the Ministry of Health and the Financial Planning Association of Singapore will provide the latest updates on the 3Ms (Medisave, MediShield and Medifund) and how private insurance can complement y
our Medisave savings and MediShield plan.

+ 6 Shenton Way, DBS Building Tower 1, DBS Auditorium, Level 3, Singapore 068809

Nearest MRT station is Tanjong Pagar.

Yours faithfully

CPF Board

For more information, visit http://a.chtah.com/a/hBPTIFOB8fis7B8gIzNAAC4oqUR/ayr.

Seminar NameDateTimeVenue
Taking Charge of
Your Healthcare Costs
29 Mar 2012
(Thursday)
7:00pm to
9:00pm
DBS
Auditorium
+

What would you do?

http://www.youtube.com/watch?feature=player_embedded&v=QcV3SOVE6dc

Not every thing in life will be as dramatic, and not everyone will have a choice between money and saving everybody else, but don't let a situation where you are are caught between choosing happen.

Monday, 27 February 2012

Why Complicate Life?


Worried what will happen to you family if you're not around? Call your Advisor today.

Friday, 24 February 2012

AIA's new business growth boosts shares

http://www.todayonline.com/Business/EDC120224-0000167/AIAs-new-business-growth-boosts-shares

AIA's new business growth boosts shares
HONG KONG - AIA Group, Asia's third-largest insurer, reported a 40 per cent rise in the value of new business for its fiscal full year and growth in Thailand despite last year's devastating floods, surprising analysts.

Value of new business (VONB), a key metric for insurance companies that measures the present value of future business, rose to US$932 million (S$1.17 billion) for the year ended November, while VONB margin climbed 4.6 percentage points to 37.2 per cent, AIA said.

Those numbers overshadowed a 41 per cent drop in net profit that AIA, one-third owned by bailed-out insurer American International Group, suffered due to stock investment losses.

"The value of new business came in way above consensus. We were looking for US$883 million and we were at the high end of street estimates," said Mr Stanley Tsai, an analyst at Keefe, Bruyette & Woods in Hong Kong.

"Volumes were in line or slightly below expectations, but margins were very high. That was driven mainly by Hong Kong and Thailand," Mr Tsai said.

Embedded value, another measure that analysts watch closely, rose 10 per cent to US$27 billion for AIA in 2011.

The margin on new business growth in Hong Kong last year was 56.1 per cent, in Thailand 48.8 per cent, and in Singapore 62.3 per cent.

Thailand's growth and margin on that growth came as a surprise to many analysts who had revised their models to reflect slower growth after last year's floods.

Net profit for the fiscal year fell to US$1.6 billion from US$2.7 billion a year earlier.

The slide in net profit came mainly from US$207 million worth of mark-to-market losses in AIA's equity portfolio. In 2010, that same portfolio provided an US$853 million boost.

AIA CEO Mark Tucker said that AIA's net profit figure does not include US$500 million worth of gains on bond investments and that as of Friday morning, AIA estimates its negative mark-to-market movement in equities would have been fully reversed. REUTERS

First Ever Roadshow!

It's so late now! because i've just come back from the Baby Care Festival at Singapore Expo. http://singaporeexpo.com.sg/2012/01/13/babycare-festival-2012/



It was my first ever sponsored AIA roadshow and it was SOME experience, i tell you.

things are just so different when done in person. You get shy ones, people who outrightly enjoy wasting your time, turn you down badly, and the lovely people who make your day by spending a bit of time talking to you even though they don't look like they could be potential prospects.

I spent quite a bit of my time today just having fun, and finding people to talk to.

Unfortunately like what I said before, it's sad that although insurance is easy to sell, it's DAMN DIFFICULT to get people to stop and listen to what you have to say.

which is why I'm happy that i had 20 people who were willing to chit-chat with me and find out a little more about what it is that we are doing for people.

i still have to improve on how to formulate my words properly - how to summarize what my job is without making it sound boring or technical, but i believe that sincerity will shine through and that people can see that the service i provide IS for their benefit, and not just about my commissions.

looking forward to more friendly people to talk to,
Jessica

Wednesday, 22 February 2012

Market Updates?

Product News
Prudential launched Pru Universal Vantage Portfolio in USD currency, which consists of:
- Pru Universal Vantage Zenith – a single premium whole-life plan that offers protection as well as potential returns from accumulated value. The latter is projected to be equivalent to the sum assured at the age of 100.
- Pru Universal Vantage Optimum – a single premium whole-life plan that offers higher protection at the expense of lesser accumulated value. The latter is projected to reduce to zero at the age of 100.

Manulife launched mBreeze – a personal accident plan that includes medical reimbursement for third degree burns, food poisoning and dengue fever.


Advertisements/Promotions & Company News
Insurers
Great Eastern rolled out “There will never be another you” campaign on TV, print and online media.

Great Eastern launched the Live Great loyalty program that features the following:
- Health & Wellness online portal that provides information and tips on staying healthy, as well as products and services members of the loyalty program can enjoy at discounted rates.
- Wellness profiling facebook app that offers a simple health risk assessment to determine how your lifestyle fares and what actions need to be taken.
- Great Eastern‟s 21 Days mobile app that helps members to track their progress towards better health on daily basis.
- Partnership with more than 500 establishments across Southeast Asia to incentivize and reward members of the program.

Market Scan – Latest Industry News
AXA kicks off a new branding campaign with the key message to „cross over to AXA‟. The campaign runs across various channels: TV, newspapers, radio and outdoor (bus, MRT and central locations).

Banks/financial institutions
Standard Chartered launched a new product: Bonus$aver that links credit card spend with interest rate in savings account. Customers can earn interest rate up to 1.88% p.a. on their current account with minimum $500 spent on their credit/debit card (bonus interest is applicable only on the first $25,000). The bank is expecting 300,000 new current accounts in three years as a result of Bonus$aver.

Others
Life insurance weighted premiums grew by 3% in Q4 from same period last year, totaling $542.9 million. The weakened growth was largely due to the drastic drop in the single premium business, which fell 23% to $156.5 million from last year. Uncertain market conditions were cited as the main reason for the drop. Meanwhile, health insurance sales grew by 6% from $156 million to $165 million, led by integrated shield plans and riders. In terms of distribution, share of tied representatives fell to 49% from 56%. The drop was absorbed by bancassurance channels.

Market Scan – Latest Industry News
Household income
The median household income of Singaporeans in 2011 increased by 11% from $6,342 to $7,037. At the top 10%, average monthly household income jumped by 7.9% to $27,867; while for the bottom 10%, average monthly household income increased by only 0.9%, amounting to $1,581. The figures are for Singaporean and permanent resident households with at least one working member, and include employer CPF contributions.

* Source: Local press, competitors’ websites, financial institution websites, LIA statistics & financial news websites.

Friday, 17 February 2012

Singapore Budget 2012

http://app.singaporebudget.gov.sg/budget_2012/default.aspx
http://theonlinecitizen.com/2012/02/budget-toc-calls-for-a-stronger-community-and-robust-economic-performance/

So much news on the upcoming use of the National Budget!!

CONCLUSION
G.1. Mr Speaker Sir, at the Opening of Parliament in October, PM spoke of building an inclusive society, and sketched the Government’s vision for a stronger Singapore and better home.
 
G.2. Budget 2012 sets out our directions and takes significant steps towards achieving this vision. We are restructuring and upgrading our economy, so that workers can enjoy higher incomes and every Singaporean family can aspire to move up. We are also introducing new initiatives, and deploying more resources to uplift and support lower- and middle-income Singaporeans.
 
G.3. But we all know that building an inclusive society is not just about government redistributing resources to help the poor. It is about building a society where at its heart, people retain a deep sense of responsibility for their families and seek every opportunity to improve themselves and do better. Where employers treat workers with respect, value their contributions and reward them fairly. Where the more successful step forward to help others in the community, because they feel for their fellow citizens. And where Singaporeans actively participate in causes that will make this a better society. An inclusive society will only blossom if we grow this spirit of responsibility and community
 
G.4. It has to be about how we go about our lives as Singaporeans, like the people in this video.
 
G.5. [Tan Ai Li, 11. Sani Rosmani, 45. Mumtaz Begum, 40. John Forbes, 92. Mrs Goh Kah Tian, 55.]
 
G.6. Opportunity, improving ourselves, compassion. They define the character of the society we are building, and must be our common purpose as Singaporeans.
 
G.7. Mr Speaker Sir, I beg to move.

Monday, 13 February 2012

Slower growth for Singapore life insurance industry in Q4

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_766115.html
"Despite the slower growth, Life Insurance Association president Tan Hak Leh said that the industry is still in a strong position.

'We owe this to a combination of the resourcefulness of our industry in delivering pertinent products and quality servicing and consumer confidence in life insurance solutions for their financial plans,' he said."

that's our CEO! :D

so proud of him and the initiatives he's brought to AIA so far. Even with the economy slowing down, i shall push on!

Sunday, 12 February 2012

"He also shared that the first person he called was his insurance agent..."

http://sg.entertainment.yahoo.com/blogs/singapore-showbiz/dj-rod-monteiro-hospital-suspected-mild-stroke-035702787.html  
His colleague, Gerald Koh who goes by Boy Thunder on air also told Yahoo! Singapore that the news of Monteiro's hospitalisation came as a "shocking" pieces of news.

"He is really a very healthy who runs and does a lot of sports. I will definitely visit him later and find out more," said Koh.

Monteiro is a keen golfer, cyclist and long-distance runner. In the recent Standard Chartered Singapore Marathon which took place in December, he finished a 12km run in one hour and 56 minutes.

Thursday, 9 February 2012

i have not been busy

i have just NOT had any access to a PC for the longest time. so sorry about that.

anywho, i wanted to talk a little bit about paying premiums.

a while back i spoke about how i needed to hit some targets in order to receive allowances from my company. i still haven't hit them yet.

the criteria for hitting these targets is the amount of commission you would received for the plans that you sell. in that particular month ONLY.

but what's interesting is that i WOULD have hit my targets, if the plans' premium payments were annualized.

there are actually quite a number of choices when it comes to premium payment (monthly, semi-annually, quarterly, annually) so it really depends on the client's perspectives.

many people in their 20s to 30s still have to master their cash flow and build up their savings in their bank accounts. if their bank accounts are anything like mine, any extra in there, quickly gets spent on SOMETHING. i really don't know what, but SOMETHING. therefore, it's always more practical to look at a monthly deductible premium.

as they get older and savings start to build up, people can START to consider paying bigger amounts, and consequently look at paying at the less frequent modes in order to save money. paying by a less frequent mode means that administrative costs are lowered - i.e. instead of processing 12 times a year, it's reduced to once. and also that the company is able to utilize the whole amount quicker to the benefit of the value of the policy. savings are hence transferred also to the client.

but it doesn't matter which way you choose really, as long as you are able to monitor how much you are spending on your insurance. and the golden rule is 10 - 20% depending on how flexi your income and how important you think insurance is.

keep in mind how much insurance you buy over the years and try to fix the premium deductions together. it will help you to monitor your expenditure and also make it easier for you to decide if you an afford to pick up more plans.

be savy with your money!
Jessica

Friday, 3 February 2012

Something to think about from another new agent..

http://www.investmentmoats.com/budgeting/insurance/words-from-an-actual-insurance-agentthe-industry-is-flawed/
"A scary amount of middle aged adults still believe themselves immortal and that they cannot possibly get hospitalized or worse, affecting their ability to provide for their family. Most young working adults simply go from paycheck to paycheck, saving $0 every month and heading straight for disaster the moment a situation calls for usage of emergency funds which do not exist, or they just dump a token amount into their bank account every month that dissapears into the newest xbox or ipod the moment they get enough. Most young working adults do not even have a clue what medishield or medisave is, other than that it is something CPF related.

I feel like im constantly rolling dice and seeing if I can get a lucky combination just to find a single interested person. I would like to continue on in this line of advising people on financial planning, but I do not see how as most people simply want to go through life without any financial planning or insurance protection at all. And actually I don’t even know whether what im doing can be considered financial planning anyway."

i guess that feeling of apprehension never changes. as much as business is picking up after the new year, that constanat nagging feeling of "is this right for me?" doesn't go away.

Must continue to strive on,
Jessica

Wednesday, 1 February 2012

i feel so bad!

That i haven't really been posting very much. I've been running around more or less like a headless chicken during Chinese New Year! many people to visit = many opportunities to be had.

I will get down to writing a really long post soon but just wanted to share a short article on Singapore's golden boy Fandi Ahmad and the woes of rejection.

Even the greatest soccer talent in our history has to concede to the penchant for foreigners and end up making a living in JB where his tremendous talent is appreciated. After contributing to Singapore soccer for decades and so many extraordinary achievements, they simply cast him aside in favor of a foreigner who is highly paid but has failed to restore the morale and glory of the Singapore team. Fandi's plight mirrors that of Singapore workers who held the title of number one workforce in the world for decades. The same workforce now has been replaced by a massive influx of foreign workers.

Fandi's problem is compounded by his wife getting sick. Not only sick but she fell through the cracks of our healthcare system for a common but serious ailment, seizure:

"The medical bills are mounting for me and made worse by the fact that her condition is not covered by insurance." - Fandi, Today [Link]


That being said, please please don't wait until it's too late to make sure that you have a fallback plan!

Please alos have regular healthchecks to make sure that you are in tip top shape. and for the ladies:
http://www.worldwidebreastcancer.com/what-does-breast-cancer-look-like/

Be Protected Everyone!