Thursday, October 7, 2010

How to read a Benefit Illustration (Par Policy)

If you are offered a participating policy, you will get a benefit illustration that shows the projected yield based on 3.75% and 5.25% p.a. This article explain show you can calculate the percentage of the value of accumulated premium that is deducted from your policy.

www.tankinlian.com/latest.aspx

This format is different from the format of the benefit illustration used for an investment linked policy.

Can Money Buy You Happiness?

A recent study suggesting that
happiness levels off after a household has reached $75,000 of income
raises a host of questions.
Courtesy of Carl Richards
(Don't miss Readers' Comments)
 

Contingency fee for professionals [2]

Should Singapore allow lawyers to charge contingency fee, i.e. they will get paid only on successful outcome of a legal case? Should this system be applied to medical specialists for expensive treatment that has a low chance of success?

Read the results of a survey in www.tankinlian.com/latest.aspx

http://tankinlian.com/admin/file.aspx?id=232

How to improve customer service

How can a company improve its customer service?
I have written a few articles on this topic.
Go to www.tankinlian.com/latest.aspx and search for "customer service".
You will get a few articles.
If you like the ideas, please pass them to the companies that you are a customer.

Customer Service - how to lose customers

Read this article
http://blog.getsatisfaction.com/2010/10/04/fastest-way-to-lose-customers/

My view
Many companies adopt the wrong strategy, causing a lot of pain for their customers. These companies apply technology in a bad way. A common sense approach and the ability to provide service from the perspective of the customer can make a lot of difference.Here are  my suggestions to improve customer service.

Explanation of Exchange Traded Funds

Read this article.

It is a good article to explain the difference between an ETF and a mutual fund.

Global penetration of the internet

Read this article

My view
The Internet has changed the world significantly. It has the potential to make further changes, to improve efficiency. But, the world economy has to be restructured to allow the benefits of the productivity improvement to lead to a better quality of life. Although the internet penetration is less than 30%, this figure is already very significant. Those without the internet connection can get the help of family members or neighbors to access the services through the internet. But, government and business entities need to learn how to use the power of the internet.

You can read my "Story of Bright Town" to understand how the Internet can improve efficiency in e-government services. The soft copy is available free. The hard copy can be bought here.

There is a prototype portal based on this book, which can be accessed here.

Hot money

Read this article
http://www.reuters.com/article/idUSTRE69511I20101006

My views
The developed economies have reduced the interest rate to near zero. They are printing a lot of money. These money are moving into the emerging economies causing their currency to appreciate and asset bubbles. It is how messy the globalised world has now become.

Currency wars threaten global recovery

Read this article:
http://www.bbc.co.uk/news/business-11484532

My view
Here is another example of the failure of the current global system. There is no point in having a global economy, if it causes the types of economic problems that have to be addressed through "currency manipulation". It is better to allow countries to have some form of protectionism to preserve their national identity and interest, rather than have a globalised economy that serves the interest of the large global companies.

Read my view on "restructure the global economy" in www.tankinlian.com/latest.aspx.

Over-charging for a simple transaction

Dear Mr. Tan


I would like to share with your readers on my recent experiences with Singnet. 


1. I relocated recently from my home to my mum home. I need to relocate my ADSL line. When I received my bill, I was shocked,there was a relocation charge of $40. I called to enquire on the charges,they told me it was their guideline. I asked why was I charged - no one came to my mum place to do or check anything?  They only need to  key some information to update my address and they are charging a ridiculous sum of $40. They kept saying it's their guideline. Finally,after transferring and putting me on hold, they said,they will waive the charges. 


2. I also recently received a letter stating that I can upgrade my broadband. I called them but they they told me that I was not eligible, because I was still under my previous contract. Whey did they send that offer letter to me? They said that it was sent to all subscribers .i told them - isn't it wasting of my time and his time for me to call and enquire? And also wasting of paper and resources? What if, they sent out 100000 letters and only 10000 are eligible to upgrade? 


The two incidents,really make me 'shocked',especially coming from one of Singapore's biggest company - the amount of money and resources are wasted and good luck to their shareholders! 


MY REPLY
I agree with you that our big trusted companies are now overcharging consumers to increase their profit. I suggest that you write to the St Times about this matter. 

Restructuring the Global Economy

I watched the discussions in CNBC with investment experts who monitor the economic news in USA and the financial markets. These experts listen to the economists, including speeches by the Fed chairman Ben Bernanke, and gave their views.

They are pessimistic about the ability of the US to create jobs, in spite of near zero interest rate and the large amounts of quantitative easing, i.e. printing of money. There is no confidence and insufficient consumer demand. In this environment, businesses are reluctant to expand capacity and create employment.  One influential person, the co-CEO of Pimco, Mohamed El-Erian said that the global system needs to be "re-structured".

I agree with his view about the need for re-structuring. We need to get away from the unbridled globalisation that is causing the damaging international competition and the wide disparity of income - both of which have got out of control.

My views on the areas that need to be re-structured are set out in this article:
www.tankinlian.com/latest.aspx

Tan Kin Lian

Fathers Rights In Child Custody | Mothers Rights In Child Custody | Child Joint Custody

Child custody rights with regards to children depend upon quite a few factors.  The most important of course, being their age.   Generally speaking, children over 12 can choose the parent they would like to live with; the only exception being if the parent they choose to live with has a documented drug or alcohol problem.

Child Custody Legal Forms | Child Custody Forms | Child Joint Custody

However, child custody forms are now easy to download from the Internet.  In the US, all states except for Alabama provide this service, and there are many forms available on the Internet besides the original petition for custody.  There are also joint child custody forms, unmarried child custody forms, visitation rights forms, and even child support forms.

Monitoring of Server and I.T Security

It is important for a business enterprise to have a robust server and security of its I.T. system. Read this case study of how it can be done economically. http://tankinlian.com/admin/file.aspx?id=231

Transforming Malaysian Healthcare

PICTURE this: a middle-income individual requires specialist medical attention. Under the current dual-tiered healthcare system, he has the option of going to a government-led, public-funded hospital or a thriving private hospital with first-class facilities and shorter waiting time.
Which option would he choose? This depends on three important factors: cost involved, service quality and urgency/complexity of the medical situation. But one fact remains: he will likely be faced with a higher medical bill than ever before. The cost of healthcare has rapidly escalated in the last decade. How expensive will it be in the next five to 10 years?

http://biz.thestar.com.my/news/story.asp?file=/2010/10/7/business/7174463&sec=business

My observation
Malaysia is now grappling with the issues faced by Singapore earlier. Perhaps they can learn the mistakes to avoid and find a way to better manage the escalation in health care cost.

Letter from Rachel Zeng

Dear Mr Lee, 
May I extend my most sincere condolence to you for the demise of your beloved wife Madam Kwa Geok Choo. 
Despite disagreeing with your political tactics over the years, I can deeply empathise with how it feels to lose a loved one to mortality, especially when more than 60 years of love, companionship and good memories have transpired. 
As you grieve over your unfortunate loss, do allow me to gently remind you that time is running out - for yourself and the surviving political detainees who were arrested and tortured without trial, reportedly under your instructions. 
.... Rachel Zeng
www.easyapps.sg/sgep/latest.aspx