Case study - excessive deduction under investment linked policy

Here is a case study of an investment-linked policy that takes away 65% of the accumulated savings of the young policyholder. This is shocking. It is excessive, and is ripping of the consumer.
www.tankinlian.com/latest.aspx

Case study: Poor yield on investment linked policy

This is the case of a young person who bought an investment linked policy from a life insurance company that has been very active in promoting this policy. The policy provides a poor yield. www.tankinlian.com/latest.aspx.

My observation
Here is my advice to young people, especially those who have just started work. You will be approached by your friends, or your friend's friend, to buy an investment-linked policy, or a whole life policy with premiums payable for 10 or 15 years. You will be told that this is a good policy for financial planning.
Be careful. These policies will take away a large part of your future savings and leave little for you. You will be giving away your future financial security for the benefit of other people.

Read my book on Financial Planning (available at www.tankinlian.com/ishop) or attend the educational talk conducted by FISCA (see www.fisca.sg).

Top 100 billionaires - Forbes Magazine

Type of industry:
26 - finance (hedge funds, investments, leveraged buyouts)
17 - consumer goods (Walmart, Estee lauder, etc)
13 - media and IT

Male 93
Female 7
Average age 64.7

http://www.smh.com.au/money/on-the-money/blogs/savvy-investor/moneys-funny/20100927-15st0.html

What is good customer service?

1. Commit to quality service
2. Know your products
3. Know your customers
4. Treat people with courtesy and respect.
5. Never argue with a customer
6. don't leave customers in limbo
7. Always provide what you promise.
8. Assume that your customers tell the truty.
9. Focus on making customers - not on sale
10. Make it easy to buy

View the infographics in www.tankinlian.com/latest.aspx.
See how different industries and companies rank in customer service.

Casino: Promises not kept

A blogger had said that the promises given by the government on the two casinos were not kept. Do you agree with this view? Go to www.easyapps/sg/sgep/latest.aspx.

IPO of GIC Fund

Mr. Tan,
I found the prospectus of the IPO document in MAS Opera.  I will not be commenting on it as I don't have the stamina to go through the 540 page doc.  Looks like it is primarily China and Japan properties.  GIC supposedly said that they are positive properties so I am not sure why they sell the portfolio.  Maybe they have better use of the funds? By the way, it is not a REIT structure.  Dividend payment at managers discretion.  My hunch is that GIC is looking to make management fees from other than the Singapore Government.

Choosing the right mortage

Read these tips.

Advice given in my book on Financial Planning

• Property should be within 5 years of family income (less cost of employing a maid)
• Repay the loan within 25 years
• Monthly repayment (including withdrawal from CPF) to be less than 25% of family income 

My advice is - buy a lower price property that you can service comfortably. It can be smaller or outside of the prime areas. If not, rent a property.

Telemarketing calls

Telemarketing calls can be irritating. It can also incur cost to the consumer who is overseas. Here is the experience of a consumer who ask for the calls to be stopped and for the roaming charges to be reimbursed.
www.tankinlian.com/latest.aspx.

Robberies in the early morning

Read this message from the Police. I suspect that there is an increase of crime due to the large number of foreigners in Singapore and the difficult economic situation affecting some groups of people. I wonder if the losses of customers visiting the casinos also contribute to this situation?

www.easyapps.sg/sgep/latest.aspx

Subscribe to SGE portal and TKL website

You can follow these instructions to subscribe to Singapore General Election Portal using Google Reader.

www.easyapps.sg/sgep/latest.aspx

Subway on the street

New York City has introduced a new concept of uses buses that can travel fast and have short waiting time to load and unload passengers. They are using the concepts of the subway - prepaid fares and dedicated bus lanes. The cost of this system is less than 1% of the subway system. It can be implemented in a short time (compared to years to build a subway line). The bus service Bx12 in New York has proven to be successful. It is well received by commuters and has fast travelling time. Source; New York magazine.

Read www.tankinlian.com/latest.aspx