Wednesday, April 21, 2010
Buy motor insurance directly
Dear Mr Tan,
I wish to share a low-cost online purchase of car insurance with Aviva.
www.aviva.com.sg
Please share this in your blog if you like.
My profile: Male, 34, married, zero NCD, driving license 7 years, indoor job, 2005 used car, 1.4liter, zero demerit point.
Annual Premium: is $1503 ($500 excess, zero NCD, any 25 years old & above can drive, pay in full with credit card).
I have 5 other car insurance quotes and the next lowest annual premium is $1900+.
I heard over the radio (Class 95) that Aviva is new to the car insurance market in Singapore, They are taking away the middle man and streamline the back office operation and therefore giving a good deal to drivers.
This is a good buy direct service with the Internet.
My comment
It will be easy to get a quote from Aviva through their website. You do not need to wait for the next renewal date. You can ask for a quote for your current year and compare with your existing premium, just to get an idea about how competitive they are.
I wish to share a low-cost online purchase of car insurance with Aviva.
www.aviva.com.sg
Please share this in your blog if you like.
My profile: Male, 34, married, zero NCD, driving license 7 years, indoor job, 2005 used car, 1.4liter, zero demerit point.
Annual Premium: is $1503 ($500 excess, zero NCD, any 25 years old & above can drive, pay in full with credit card).
I have 5 other car insurance quotes and the next lowest annual premium is $1900+.
I heard over the radio (Class 95) that Aviva is new to the car insurance market in Singapore, They are taking away the middle man and streamline the back office operation and therefore giving a good deal to drivers.
This is a good buy direct service with the Internet.
My comment
It will be easy to get a quote from Aviva through their website. You do not need to wait for the next renewal date. You can ask for a quote for your current year and compare with your existing premium, just to get an idea about how competitive they are.
Land banking story on CNA - 18 April
The land banking story was aired on 18 April. I was not able to watch it (as I was interviewed at the same time on another programme). Can those who watched it shared your views?
Pain of separation
As I was entering the departure hall at Jakarta Airport, I saw a scene that touched my heart. A little girl (maybe 5 years old) was crying loudly. She was clinging to her father who was leaving Indonesia, probably to work overseas. Her grand parents were trying to console her.
I was very sad that families had to be broken in this manner and that the parents had to be separated from their small children to work overseas. Many of these parents are working in Singapore as domestic maids and foreign workers. Many employers do not like their maids to use the telephone as they may "cause trouble". The maids are also discouraged to telephone to their families at home.
I hope that the employers realise that these maids and foreign workers have family and children back at home. Let us help them to lessen their pain of being separated from their family.
Tan Kin Lian
I was very sad that families had to be broken in this manner and that the parents had to be separated from their small children to work overseas. Many of these parents are working in Singapore as domestic maids and foreign workers. Many employers do not like their maids to use the telephone as they may "cause trouble". The maids are also discouraged to telephone to their families at home.
I hope that the employers realise that these maids and foreign workers have family and children back at home. Let us help them to lessen their pain of being separated from their family.
Tan Kin Lian
Tuesday, April 20, 2010
Photogragh and fingerprints of travellers
I was delayed for 30 minutes at the immigration counter at Jakarta airport. The delay was due to an exercise to capture the photograph and fingerprint of visitors. A friend who arrived in Jakarta later in the day was delayed by 3 hours.
It would be quite troublesome to visitors, if all the countries decide that they need to capture the photographs and fingerprints of all visitors. Surely, the information can be captured once, e.g. at the home country, and can be allowed for access by immigration authorities in all the countries that are being visited?
Perhaps a global organisation like Google or Microsoft can provide this service and encourage immigration authorities to access a common server? As a traveller, I am happy to have the images captured once and be accessed globally.
Tan Kin Lian
It would be quite troublesome to visitors, if all the countries decide that they need to capture the photographs and fingerprints of all visitors. Surely, the information can be captured once, e.g. at the home country, and can be allowed for access by immigration authorities in all the countries that are being visited?
Perhaps a global organisation like Google or Microsoft can provide this service and encourage immigration authorities to access a common server? As a traveller, I am happy to have the images captured once and be accessed globally.
Tan Kin Lian
Visitors to TKL blog
I used to have 2,500 to 3,000 visitors to my blog during weekdays. This week, it increased by 50%. Why is there a sudden jump? Is someone asking other people to visit my blog?
Gold Investment Program
Dear Mr Tan,
I've recently come across a gold program which provides a guaranteed return of 9% in 6 months through the purchase of physical gold - good delivery bars (999.9).
The outline of the program is as follows:
Day 1: Client purchases and collects gold based on retail price, less initial Cash Discount 3%, plus GST 7%
Day 90: Client receives 3% Sell-Back Incentive - credited into the client's bank account.
Day 180-187: At this point, client needs to decide whether to keep the gold or exercise a sell-back option. The two scenarios are included below.
(a) Keep the gold: Receives 3% bonus
(b) Exercise Sell-Back option based on purchase price: Receives 3% bonus, 7% Sell-back bonus equivalent to GST, agreed Sell-back price (100% of Purchase Price)
In effect, by choosing (b) the sell-back option, clients will receive a 9% nett return.
After the conclusion of the six-month agreement, clients may choose to take up a new 6-month agreement.
Would like your thoughts on the program?
REPLY
The retail price of the gold sold to you is likely to have a high markup from the wholesale price. If the price of gold drops, the promoter is likely to default on the buy-back option, so you will have to keep the gold at its depreciated price. You will suffer a further loss from the markup that you paid.
If more people are buying into this program compared to those who redeem, the promoter may honor the buyback option to entice you to re-invest and get more friends to join in. This is how a ponzi scheme operates.
Avoid all types of unregulated invetment products. Read the tips in my book, Practical Guide on Financial Planning.
I've recently come across a gold program which provides a guaranteed return of 9% in 6 months through the purchase of physical gold - good delivery bars (999.9).
The outline of the program is as follows:
Day 1: Client purchases and collects gold based on retail price, less initial Cash Discount 3%, plus GST 7%
Day 90: Client receives 3% Sell-Back Incentive - credited into the client's bank account.
Day 180-187: At this point, client needs to decide whether to keep the gold or exercise a sell-back option. The two scenarios are included below.
(a) Keep the gold: Receives 3% bonus
(b) Exercise Sell-Back option based on purchase price: Receives 3% bonus, 7% Sell-back bonus equivalent to GST, agreed Sell-back price (100% of Purchase Price)
In effect, by choosing (b) the sell-back option, clients will receive a 9% nett return.
After the conclusion of the six-month agreement, clients may choose to take up a new 6-month agreement.
Would like your thoughts on the program?
REPLY
The retail price of the gold sold to you is likely to have a high markup from the wholesale price. If the price of gold drops, the promoter is likely to default on the buy-back option, so you will have to keep the gold at its depreciated price. You will suffer a further loss from the markup that you paid.
If more people are buying into this program compared to those who redeem, the promoter may honor the buyback option to entice you to re-invest and get more friends to join in. This is how a ponzi scheme operates.
Avoid all types of unregulated invetment products. Read the tips in my book, Practical Guide on Financial Planning.
Subscribe to:
Posts (Atom)