Jonathan Chua

The AIA Group meets the protection, savings and investment needs of individuals by offering a comprehensive suite of products and services covering accident and health insurance, life insurance and retirement planning   Children's Education As a parent, you certainly want the best for your child. And that includes giving your child a bright future with the best university you can afford. But do you know that your child's university education cost over S$500,000 in 20 years time? For most parents, the escalating cost of higher education may come as a rude schok. While a local university education is projected to cost well over S$100,000, a degree course in the USA could cost a staggering S$352,738 by 2025. Critical Illness No one expect to suffer from a Critical Illness and most people don't prepare for it. Yet every day in Singapore, 28 people are diagnosed with Cancer*, Thanks to advancement in medical science, most survive and many recover. Often they must then...

Many of the Republic's rising rich are inadequately insured, unnecessarily exposing themselves to financial risk. According to a research by UOB Wealth Banking, one in four of Singapore's growing affluent does not have insurance, while one in two are underinsured by industry standards, and only 22 per cent are adequately covered. UOB Managing Director and head of sales and distribution James Phoen said in a statement that apart from having insurance, the "coverage needs to match the increasing wealth." This way, living standards can be maintained if the unexpected happens. However, he added, not many of the insured increase their coverage as their income rises. An adequate insurance coverage should equal the sum of a person's annual salary multiplied by 11. For example, a person earning S$42,000 per annum should be insured for at least S$462,000. UOB observed that those who purchase insurance are opting for endowment plans with shorter premium terms of a...

Some people say they fear sickness and disability more than death, as the former will drain their wealth. But you can easily avoid this problem by buying health insurance, and by buying it early when you are healthy. Do not think that you need insurance only when you are old, as the risk of illness goes up as you age. Once illnesses develop, insurers may slap on an extra charge, or choose not to cover your pre-existing conditions. A pre-existing medical condition is a condition, disability or illness that you have before you apply for health cover. Apart from basic medical expense insurance or hospitalisation plans, which pay for hospital and surgical expenses, there are hospital cash insurance plans which pay a fixed amount of cash should you be warded. You can also choose a critical illness plan or a disability income insurance. Then, there is long-term care insurance, which gives you a regular cash payout if you are too ill to look after yourself. The common mistake many peo...

AIA Singapore wants you to make a change, one online pledge at a time. Its Facebook page and Living It Fully Everyday (L.I.F.E.) Facebook app, launched officially on April 28, are part of the insurance company's digital initiative to engage families. Instead of relying on traditional hard-sell models, AIA Singapore is aiming to take a different approach by building online relationships with potential customers first. The L.I.F.E. initiative is an interactive competition that encourages people to make personal pledges to improve their lifestyles. For example, if you have always wanted to spend more time with your family or learn a new language, submitting your pledge on L.I.F.E. may be that first step to making a change. Fans of AIA Singapore's Facebook page can get involved by encouraging others or voting for their favourite pledge. The 10 most inspiring pledges will win prizes at the end of the competition on July 17. They can also make a positive change i...