Hi Mr Tan,
I have been reading your articles and you have been mentioned low cost investment fund, can you state an example of such product on offer currently?
REPLY
REad this FAQ
http://www.tankinlian.com/faq/lowcost.html
I prefer the STI Exchange Traded Fund managed by StateStreet. You can invest in 1000 shares (about $3,000) through the Singapore Exchange SGX.
Friday, August 29, 2008
Churning a policy
Some unethical insurance agents engage in "churning" their policies. They approach their existing clients and tell them that a new and better policy has been introduced. They advise the client to terminate an old policy and take up the a new policy.
The client is not aware that this is to his disadvantage. By taking up the new policy, the client has to incur the upfront charges once again. About two years of the premium is taken away in these charges.
Some insurance agents churn the policies every five years. A client may be churned several times during their working life. The client does not realise that the premiums that they have saved over the years is used up in paying commission to the clients. The client gets a poor or negative return on the savings over the years.
The client is not aware that this is to his disadvantage. By taking up the new policy, the client has to incur the upfront charges once again. About two years of the premium is taken away in these charges.
Some insurance agents churn the policies every five years. A client may be churned several times during their working life. The client does not realise that the premiums that they have saved over the years is used up in paying commission to the clients. The client gets a poor or negative return on the savings over the years.
Joke: Can I sell you a policy?
A super genius goes in to see a doctor. "Doc," the genius says, "I think I'm too smart. I'm having trouble even communicating with people because we have no common frame of reference, and it's ruining my social life. Can anything be done?"
The doctor runs a series of tests on the genius, and indeed finds that he is too smart. He says, "Currently, your IQ is 250, which is vastly superior to an average man. This is why your having trouble communicating. I do have a cure, however. I have a machine that will drain away some of your intellegence, leaving you with an IQ of 160. You'll still be a genius, but you should be able to lead a normal life as well."
The genius immediately agrees to the treatment, so the doctor straps him into the machine.Just as the doctor turns on the device, he gets a phone call from his ex-wife. They have a heated phone conversation for several minutes before the doctor remembers his patient. He rushes back, and is shocked when he sees the IQ readout at 75.
The doctor says, "Are you all right?"The former genius just stares blankly.The doctor shakes him, saying "Say Something."
The former genius replies, "Can I interest you in a health insurance policy?"
The doctor runs a series of tests on the genius, and indeed finds that he is too smart. He says, "Currently, your IQ is 250, which is vastly superior to an average man. This is why your having trouble communicating. I do have a cure, however. I have a machine that will drain away some of your intellegence, leaving you with an IQ of 160. You'll still be a genius, but you should be able to lead a normal life as well."
The genius immediately agrees to the treatment, so the doctor straps him into the machine.Just as the doctor turns on the device, he gets a phone call from his ex-wife. They have a heated phone conversation for several minutes before the doctor remembers his patient. He rushes back, and is shocked when he sees the IQ readout at 75.
The doctor says, "Are you all right?"The former genius just stares blankly.The doctor shakes him, saying "Say Something."
The former genius replies, "Can I interest you in a health insurance policy?"
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