Disabled persons have a higher need for insurance, but insurance companies are not willing to offer insurance at the standard rates to the disabled persons. The disabled persons may have to rely on personals savings and loss control.
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Tuesday, January 11, 2011
Franchise business proposal
A reader asked for my views on this franchise business proposal. I am not familiar with the business, but I know of many people who invested in the bubble tea franchise and lost their capital. If you have any inside knowledge of this franchise, please share it.
FRANCISE OF HEALTH PRODUCT
Franchise fee: 15k (3years)
Royalty fee: 5 - 6 % on sales
Marketing fee -1.5% on sales
The development manager/partner said that the total estimated cost is about 150k to 180k, with a breakdown for legal fees, misc fees, renovation, rental for 3 months, insurance etc. It is a healthy food franchise.
Long term pass for baby
Dear Mr Tan,
I have friend that just move to Singapore, and also have baby. However, they face a difficulty in Singapore to get the long term pass for their baby. The imigration officer ICA mention that the baby should go back to home country and can't stay in Singapore more than 3 months, so the parents and baby should move in and out from Singapore every three months.
Do you have any information and idea, how to solve this problem, so parent and baby can together without each 3 month to renew the visiting pass. The parents are foreigners on long term visit pass (LTSPP), but they are keen to become Singaporean Citizen.
COMMENT
If you know how to solve this problem, please send e-mail to kinlian@gmail.com
Dr. Jacques Attali's talk
Dr. Jacques Attali's talk will be held tomorrow. Here are past postings in this blog:
http://tankinlian.blogspot.com/search?q=attali
My views on "globalisation" are set out here. I believe that it has to return to some form of protection. I wish to hear what Dr. Attali's views are. A few readers of my blog have sent their views to me. They are also attending the talk. I look forward to meeting them, but they have to look for me.
http://tankinlian.blogspot.com/search?q=attali
My views on "globalisation" are set out here. I believe that it has to return to some form of protection. I wish to hear what Dr. Attali's views are. A few readers of my blog have sent their views to me. They are also attending the talk. I look forward to meeting them, but they have to look for me.
Russia - Landscapes and buildings
Here are some beautiful landscapes and buildings in Russia. Contributed by Mike Hansford.
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DBS notes investors appeal court ruling
DBS notes investors appeal court ruling
By MICHELLE QUAH
THE investors who lost millions and their court case
over their investment in DBS High Notes 5
are now appealing against the High Court decision
to dismiss their claim.
BT understands that the 21 investors
who brought the case against DBS Bank
on behalf of 192 other individuals
have made an application to the Court of Appeal.
Singapore Government Bonds
http://www.theedgesingapore.com/the-daily-edge/business/24765-singapore-government-bonds-to-trade-on-sgx-by-mid-2011-update.html
Singapore government bonds will begin trading on the Singapore Exchange (SGXL.SI) by the middle of this year, providing retail investors with a safe but higher-yielding alternative to bank deposits, Finance Minister Tharman Shanmugaratnam said on Monday.
He said retail investors concerned about the low savings rates can also participate in government bond auctions or buy high-quality corporate bonds that are now traded in smaller lot sizes on the exchange.
Singapore’s annual inflation hit 3.8% in November, the highest since January 2009, and analysts said the rate could accelerate further in the first few months of 2011, prompting the central bank to maintain or further tighten policy.
In contrast, Singapore banks currently pay less than 0.2% per annum on savings deposits.
Yield on life insurance policy
This article explains how to calculate the yield on a life insurance policy and to know if the yield is attractive, acceptable or too low. The reduction in yield should not exceed 1.5%
New ways to mislead consumers
A life insurance company has launched a new product with a new angle. They claim to provide an income to the policyholder during retirement.
I saw a benefit illustration given to a young man at age 30. The life insurance policy has many complicated features that baffle me. The consumer asked for my views. Frankly, it is a waste of my time to analyse these types of products that are designed to distract consumers from the poor yield and to benefit the insurance agents and the insurance companies.
Anyway, I looked at the benefit illustration and found that the cash value at the end of 25 years is less than 60% of the accumulated premiums, i.e. the deduction is more than 40%. The yield is only 1.4%, which is terribly low. The insurance agent distracts the consumer by talking about the monthly income during retirement. The agent pressurized the consumer to decide because the premium rate will increase after the next birthday.
I gave this advice to the consumer:
I saw a benefit illustration given to a young man at age 30. The life insurance policy has many complicated features that baffle me. The consumer asked for my views. Frankly, it is a waste of my time to analyse these types of products that are designed to distract consumers from the poor yield and to benefit the insurance agents and the insurance companies.
Anyway, I looked at the benefit illustration and found that the cash value at the end of 25 years is less than 60% of the accumulated premiums, i.e. the deduction is more than 40%. The yield is only 1.4%, which is terribly low. The insurance agent distracts the consumer by talking about the monthly income during retirement. The agent pressurized the consumer to decide because the premium rate will increase after the next birthday.
I gave this advice to the consumer:
- Do not buy any insurance product that you do not understand
- Do not expect me to waste my time to analyse these complex products
- Do not buy because the premium rate may increase after your birthday.
- Avoid insurance agents who earn a large income selling poor life insurance policies to you.
Watch this video
If you wish to know how to manage your financial future, without being conned by a life insurance agent, you can start by trying this financial planning tool. You can also pay $50 to the experts to provide guidance to you on how to understand the statement. Do not waste $5,000 of your premium as commission to the agent who sell you a poor life insurance policy.
Tan Kin Lian
Cover for Life Insurance Book
What is your opinion about the cover for my life insurance book? Is it all right to use a cartoon?
http://tankinlian.com/admin/file.aspx?id=359
Send your views to kinlian@gmail.com
http://tankinlian.com/admin/file.aspx?id=359
Send your views to kinlian@gmail.com
Criminal Law In Ireland-The Prosecution of Crime | BusinessAndLegal.ie
1. District Court Summons Procedure
A District Court summons is basically an order to appear before the District Court to answer a complaint.
This complaint will have been made by a member of An Garda Siochana and on foot of this complaint a District Court clerk will issue a summons for the attendance of the accused before the District Court to answer the complaint.
The Validity of the Summons
In order for a summons to be valid it must
The Online Citizen
The popular Online Citizen has been gazetted as a political organisation. Read about the implication of this development in SGEP.
Political website
Hi Mr. Tan
Big news of the day. The Online Citizen now has its arms and legs tied up like the crab. Would your blog be the next target,considering that it is much harder to snare Temasek Review. Worried now, as we are used to your blog daily.
REPLY
Don't worry. Que sera sera.
Big news of the day. The Online Citizen now has its arms and legs tied up like the crab. Would your blog be the next target,considering that it is much harder to snare Temasek Review. Worried now, as we are used to your blog daily.
REPLY
Don't worry. Que sera sera.
High cost and delay
I wrote this letter to the directors of M V Land, the developer of Mid View City. My experience with this company was bad. They provide bad customer service and adopt inflexibility that caused delay and unnecessary expenses to their buyers.
Three months prior to the completion of the project, I asked them to give me a floor plan of my premises to prepare for the renovation. I had to go through the lawyers. They took a month to reply and refused to give me the drawings, even though it cost them nothing to assist. I don't know what they are scared of! This caused me to waste a lot of time. It is more than three months after taking possession, and the renovation has not started.
But this is Singapore! Even commercial companies are following the bad example set by the Government. Scared of taking initiative. Find excuse to say "no". Don't care about the impact on their customers or the public. Plain arrogance.
Tan Kin Lian
Three months prior to the completion of the project, I asked them to give me a floor plan of my premises to prepare for the renovation. I had to go through the lawyers. They took a month to reply and refused to give me the drawings, even though it cost them nothing to assist. I don't know what they are scared of! This caused me to waste a lot of time. It is more than three months after taking possession, and the renovation has not started.
But this is Singapore! Even commercial companies are following the bad example set by the Government. Scared of taking initiative. Find excuse to say "no". Don't care about the impact on their customers or the public. Plain arrogance.
Tan Kin Lian
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