When I was overseas, I received several calls on my mobile phone from one unidentified caller. As it is expensive to take a roaming call, I rejected these calls. The calls also arrived when I was busy with a meeting.
On my return to Singapore, I returned a call to this number. My call went into a voice mail. There was no clue of the party that made the call to me. I left a voice message for this person to call me back. I learnt later about the identity of the party and the company that made the call to me on a business matter.
I suggest the following telephone courtesy:
1. Do not a person on his mobile phone - unless that person knows you personally and is able to recognise your telephone number.
2. Send a SMS to the recipient to identify yourself and state the purpose and time of your intended call.
3. Make sure that your name is indentified in your voice mail.
Tuesday, July 15, 2008
Joke: Telling the truth
The priest told the congregation, "Next week, my sermon will be about truthfulness. When you get home from church, you should read chapter 29 of Leviticus."
The following week, the priest asked, "Can those who have read chapter 29 of Leviticus raise your hands?" Most of the congregation raised their right hands.
The priest said, "Just as I expected. And this is why my sermon is about truthfulness. Leviticus has 27 chapters only!"
I hope that the business world tells the truth to their customers and do not keep changing their stories.
The following week, the priest asked, "Can those who have read chapter 29 of Leviticus raise your hands?" Most of the congregation raised their right hands.
The priest said, "Just as I expected. And this is why my sermon is about truthfulness. Leviticus has 27 chapters only!"
I hope that the business world tells the truth to their customers and do not keep changing their stories.
Weakness of the Global Financial System
During the Asian Financial Crisis, the fund managers created havoc in the Asian financial markets. It caused high volatility and sound companies to be bankrupted, due to a liquidity crisis.
The same situation is now happening in the US financial markets. Many fund managers are short selling the shares of Fannie Mae and Freddie Mac, causing great stress to the financial markets. The Securities Exchange Commission is introducing measures to stop the short selling of these shares.
A report said that the traders are creating rumours on Leyman, so that they shares can be beaten down.
My reading is that this credit crisis reflects a severe weakness of our current global financial system, which is subject to excessive speculation and manipulation. It is not reflective of the real economy. I hope that the lessons can be learnt and that shortcomings can be fixed.
The same situation is now happening in the US financial markets. Many fund managers are short selling the shares of Fannie Mae and Freddie Mac, causing great stress to the financial markets. The Securities Exchange Commission is introducing measures to stop the short selling of these shares.
A report said that the traders are creating rumours on Leyman, so that they shares can be beaten down.
My reading is that this credit crisis reflects a severe weakness of our current global financial system, which is subject to excessive speculation and manipulation. It is not reflective of the real economy. I hope that the lessons can be learnt and that shortcomings can be fixed.
Large profit margin on Shield plan
One large insurance company collected $100 million on its private Shield plan and pays only $20 million in claims. It is making a huge profit margin.
If you pay $500 a year on a Shield policy to this company, you will get back about $100 in claim from this company. If the average claim payout is $100, a fair premium is $150 and not $500.
This company is able to make its Shield plan looks very attractive, but in reality the payout is poor. The consumers are not able to know about the reality until the time of making a claim.
You can buy another medical insurance plan that offers a higher claim to premium ratio, for example basic Medishield. You will pay a much lower premium. You can keep the rest of the premium in Medisave to earn 5% interest. You will need the savings for your future.
If you pay $500 a year on a Shield policy to this company, you will get back about $100 in claim from this company. If the average claim payout is $100, a fair premium is $150 and not $500.
This company is able to make its Shield plan looks very attractive, but in reality the payout is poor. The consumers are not able to know about the reality until the time of making a claim.
You can buy another medical insurance plan that offers a higher claim to premium ratio, for example basic Medishield. You will pay a much lower premium. You can keep the rest of the premium in Medisave to earn 5% interest. You will need the savings for your future.
Switch to basic Medishield
Dear Mr. Tan,
My wife and I are both retirees. We both have Enhanced Incomeshiled & Plus Rider.
For the coming insurance year, we will be paying premiums $517 & $311 (payable by Medisave) for Enhanced Incomeshield and $304 & $224 (payable by cash) for Plus Rider for myself & my wife respectively.
I shall be grateful for your advice whether we need such insurance which I consider rather expensive. Or alternatively should we switch to the basic Medishield offered by CPF. If so, how do we go about doing that?
REPLY
I think that basic Medishield is adequate for retirees, provided that you are willing to be treated in B2 ward. The premium is much lower than a private Shield plan. You can pay the Deductible out of Medisave. Read this FAQ:
http://www.tankinlian.com/faq/shield.html
You can contact CPF to switch to basic Medishield.
My wife and I are both retirees. We both have Enhanced Incomeshiled & Plus Rider.
For the coming insurance year, we will be paying premiums $517 & $311 (payable by Medisave) for Enhanced Incomeshield and $304 & $224 (payable by cash) for Plus Rider for myself & my wife respectively.
I shall be grateful for your advice whether we need such insurance which I consider rather expensive. Or alternatively should we switch to the basic Medishield offered by CPF. If so, how do we go about doing that?
REPLY
I think that basic Medishield is adequate for retirees, provided that you are willing to be treated in B2 ward. The premium is much lower than a private Shield plan. You can pay the Deductible out of Medisave. Read this FAQ:
http://www.tankinlian.com/faq/shield.html
You can contact CPF to switch to basic Medishield.
Shop around to get a competitive rate
Dear Mr. Tan,
I had just got a quote from the insurance agent, the sum assured for $200,000 decreasing term of 20 years, the monthly premium is $50 (female). Please advise whether it is expensive.
REPLY
The premium rate quoted is very expensive. You can get the benchmark premium rate from this FAQ.
http://www.tankinlian.com/faq/term.html
It is best for you to get a few insurance companies to quote the premium rate, rather than depend on one agent to quote you an expensive rate. Do shop around.
http://www.tankinlian.com/faq/termd.html
I had just got a quote from the insurance agent, the sum assured for $200,000 decreasing term of 20 years, the monthly premium is $50 (female). Please advise whether it is expensive.
REPLY
The premium rate quoted is very expensive. You can get the benchmark premium rate from this FAQ.
http://www.tankinlian.com/faq/term.html
It is best for you to get a few insurance companies to quote the premium rate, rather than depend on one agent to quote you an expensive rate. Do shop around.
http://www.tankinlian.com/faq/termd.html
Global recession
Many people are worried that there will be a global recession. For people with savings, a global recession may be all right. With a recession, prices will come down. People will work less, as there is reduced demand. They can spend the time with the family or take a holiday.
For people without savings, it may be difficult. The lesson here - do keep some spare savings for a future emergency. Do not over-stretch and spend all of your earnings. Do not borrow on your future earnings.
I hope that, in the future, the global economy can come out with a new model. People do not need to work for long hours. They can work less and enjoy their leisure time. There is no need to produce more and more goods, which are not really needed.
Why should people change their mobile phones every one or two years, or upgrade their personal computers frequently? Why should they change their cars within a few years? These are wasteful.
For people without savings, it may be difficult. The lesson here - do keep some spare savings for a future emergency. Do not over-stretch and spend all of your earnings. Do not borrow on your future earnings.
I hope that, in the future, the global economy can come out with a new model. People do not need to work for long hours. They can work less and enjoy their leisure time. There is no need to produce more and more goods, which are not really needed.
Why should people change their mobile phones every one or two years, or upgrade their personal computers frequently? Why should they change their cars within a few years? These are wasteful.
Subscribe to:
Posts (Atom)