Survey - distance based fares

36 people responded to the survey. Here are the results, comparing the new fare (distance based fares) with the previous fare:

• Lower by more than 10%   ................. 3.0%
• Lower by 5% to 10% ......................... 6.1%
• Higher by 5% to 10% ......................... 45.5%
• Higher by more than 10% ................... 45.5%

I omitted to have an option to show difference by less than 5%. So, some participants are not able to take part. Sorry.

This may not give a representative result, as the survey is likely to attract a higher proportion of people who have to pay higher fares.

Tan Kin Lian

Medical insurance for Parents

Dear Mr Tan,
Both my parents mum 62 and dad 68 are not insured by any hospital cover. Do you think it is still worthwhile for them at this elderly age to buy hospital cover? my dad is healthy and has some monies in the cpf medisave while my mum has been a housewife and has history of high blood pressure and high cholesteral level.


And if in the event it is worthwhile to consider buying, which type of hospital cover do u think wil suffice? eg most basic cpf medishield or buy from private insurers?


REPLY
Try to enrol them for Medishield (from CPF). It covers most of the cost of hospital care in subsidised wards, i.e. B2 and C. It is suitable for elderly people and the premium is much lower than private Shield. If they cannot be accepted, it is all right to be self-insured. If they need medical attention, go to a subsidised wards.

This is covered in Practical Guide on Financial Planning.

Young people in Singapore

Are young people happy with the situation in Singapore?

Here are the positive sides:

• they are well educated
• they are able to get jobs quite easily
• they get special attention from the leaders - who make the effort to engage the young, e.g. Youth Olympic Games

The key negative factor is the high cost of housing, i.e. HDB flats, by most young people probably accept it as a fact of life in Singapore and are not aware about the alternative choices.

Do you agree with this assessment?

Business simulation game

Practice your skill in running a business. Develop the skill through practice, practice and practice. Read here.

FAQ - Personal Accident Insurance

In this article, I explain the coverage under a personal accident policy and why it is better than buying an accident rider to a life policy.

If you find it difficult to buy a term insruance policy, you can start with a personal accident policy (for $300,000 or $500,000) and switch to a term insurance policy at a convenient time in the future.

Apathy

Read this article.

Look before you leap

Hi Mr.Tan,

When doing any investments, look before you leap!
Good example to try this Frog Leap Test....Educational too!
http://funstufftosee.com/frogleaptest.html
LN