Tuesday, March 29, 2011

Financial Savvy Test #9

Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. How do I calculate the reduction in yield for a life insurance policy? Keyword: reduction in yield
2. Is it good to invest in the DBS preference share? Keyword: DBS preference

Rebuilding a home

Dear Mr Tan,
I am considering taking up a 40 year term loan of 500000K from a bank for rebuilding my house at interest of about 1.5% p.a. Do you have suggestions on where I can invest this 500000k so as to offset the interest charged by the bank while waiting for the completion of my home in 1 year? I will need something relatively safe and hopefully allows me to make partial withdrawals as needed to pay the contractor . I stay in a single storey terrace house. Do you think it is a good time to rebuild my home?

REPLY
Please see the FAQs
http://tankinlian.com/admin/file.aspx?id=451
You can contact one of the following persons:
http://tankinlian.com/admin/file.aspx?id=435

Advice on insurance needs

Dear Mr Tan
I am a home maker with 2 teenage sons. The younger son recently bought a NS insurance plan of 150k but my elder son has no insurance plans at all. My husband has a public office group insurance scheme of 200K. We have no other insurance policies. I seek your advice on whether it is good to buy a vivolife plan for my 2 sons.

REPLY
Please read these FAQs:
http://tankinlian.com/admin/file.aspx?id=398
http://tankinlian.com/admin/file.aspx?id=444
http://tankinlian.com/admin/file.aspx?id=435