This is a sample financial plan for John Tan prepared from the website www.easysearch.sg/life21. There is a link at the bottom of the document to seek further explanation from an expert.
www.tankinlian.com/ask.aspx
http://tankinlian.com/admin/file.aspx?id=348
Monday, December 27, 2010
3 Problems with Outsourcing Content Creation For your Online Business-And 3 Great Benefits of Quality Content | BusinessAndLegal.ie
Don’t make the mistake of being a cheapskate when it comes to publishing content on your site.
Because you will never be taken seriously in your marketplace and the brand you try to build will be tarnished and confused.
Think of quality content as a great, one off, long term investment in your business.
And watch your readership and rankings grow.
You might be interested in professional web content also.
End of holidays
As the December holidays come closer to an end, the visitors to my blog and website are now returning to normal, i.e.
2,500 for blog
400 for website
2,500 for blog
400 for website
Unfair contract terms
We have a law against unfair contract terms. How does the law define what is an unfair contract term? Would the following contract terms be deemed to be unfair to consumers?
a) The bank imposes a penalty for late payment that is why above what it cost the bank to process the late payment? If the actual cost is $2, can the bank impose a fee of $200?
b) If an personal accident policy require the consumer to notify the insurance company about a change of occupation, can the insurance company deny a claim due to failure to comply with this requirement, even though the change of occupation did not have any impact on the nature of the risk?
As businesses now aim to increase their profits, they may be imposing penalties and conditions that are onerous and unfair to consumers. What redress does the consumer have under the law against unfair contract terms?
Tan Kin Lian
a) The bank imposes a penalty for late payment that is why above what it cost the bank to process the late payment? If the actual cost is $2, can the bank impose a fee of $200?
b) If an personal accident policy require the consumer to notify the insurance company about a change of occupation, can the insurance company deny a claim due to failure to comply with this requirement, even though the change of occupation did not have any impact on the nature of the risk?
As businesses now aim to increase their profits, they may be imposing penalties and conditions that are onerous and unfair to consumers. What redress does the consumer have under the law against unfair contract terms?
Tan Kin Lian
Utmost good faith and incontestability
The principle of utmost good faith in insurance applies in both directions. The insurer expects the consumer to declare truthfully what he knows or ought to know about the nature of the risk. The consumer expects the insurer to declare truthfully the nature of the insurance contract and also to settle the claim fairly, as was promised.
It would be wrong for the insurer to find unjustified grounds to reject the claim. As it is difficult to monitor the bad behavior of insurers, some countries have introduced the incontestability clause to govern life and health insurance policies. This is to prevent the insurer from finding flimsy excuse to reject claims due to alleged non-disclosure, especially if the consumer does not even know about the condition that they failed to disclose.
I hope that insurers and regulators understand the need for fair treatment of consumers and the correct application of the principles of utmost good faith and the incontestability clause. If consumers are unfairly treated, they will lose trust in insurance contracts.
Tan Kin Lian
It would be wrong for the insurer to find unjustified grounds to reject the claim. As it is difficult to monitor the bad behavior of insurers, some countries have introduced the incontestability clause to govern life and health insurance policies. This is to prevent the insurer from finding flimsy excuse to reject claims due to alleged non-disclosure, especially if the consumer does not even know about the condition that they failed to disclose.
I hope that insurers and regulators understand the need for fair treatment of consumers and the correct application of the principles of utmost good faith and the incontestability clause. If consumers are unfairly treated, they will lose trust in insurance contracts.
Tan Kin Lian
Incontestability clause in life and health insurance policies
Read this explanation about incontestability clause in a life insurance policy. And this explanation about its application to a health insurance policy.
I am not sure if there is an incontestability clause in Medishield or a Shield policy issued by an insurance company. There is need for this type of protection of consumers against unfair rejection of claims.
I am not sure if there is an incontestability clause in Medishield or a Shield policy issued by an insurance company. There is need for this type of protection of consumers against unfair rejection of claims.
Corporate e-mail address
I looked for the corporate e-mail address of MAS. They do not provide it. They provide the fax number and mailing address. I don't know why they prefer to have the inefficient way of communicating with the public?
MAS can provide a corporate e-mail address such as inbox@mas.gov.sg. They can have a staff to check the inbox regularly and forward the mail to the colleague handling the matter. They have to do the forwarding with mail received by post and fax anyway.
Some corporations allow the public to submit a web form. Maybe MAS has this web form. In most cases, the web form is difficult to find, difficult to use (e.g. ask for many unnecessary information), have a text box that is too small and do not allow attachments.
Why create so much trouble for everyone? Just provide a corporate e-mail address! I hope that corporate IT manager or admin managers are reading this blog!
Read this suggestion:
http://tankinlian.com/admin/file.aspx?id=47
Tan Kin Lian
MAS can provide a corporate e-mail address such as inbox@mas.gov.sg. They can have a staff to check the inbox regularly and forward the mail to the colleague handling the matter. They have to do the forwarding with mail received by post and fax anyway.
Some corporations allow the public to submit a web form. Maybe MAS has this web form. In most cases, the web form is difficult to find, difficult to use (e.g. ask for many unnecessary information), have a text box that is too small and do not allow attachments.
Why create so much trouble for everyone? Just provide a corporate e-mail address! I hope that corporate IT manager or admin managers are reading this blog!
Read this suggestion:
http://tankinlian.com/admin/file.aspx?id=47
Tan Kin Lian
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