Jonathan Chua

MediShield Life is a basic health insurance plan that protects all Singapore Citizens and Permanent Residents against large hospital bills for life, regardless of age or health condition. MediShield Life is a basic health insurance plan, administered by the Central Provident Fund (CPF) Board, which helps to pay for large hospital bills and selected costly outpatient treatments, such as dialysis and chemotherapy for cancer. It is structured so that patients pay less MediSave/cash for large hospital bills: Who is Eligible? What are the Benefits? How can I enhance MediShield Life coverage? Which IP should I choose? Can I pay my IP Premiums using MediSave? source related: National health insurance scheme MediShield Life Singapore’s Healthcare: MediShield Life "Buffet Syndrome” leading to rising healthcare costs

Wellnex is a provider of affordable & reliable healthcare & fitness lifestyle services. It offers healthcare & many other exciting benefits to its clients, family & friends. For example, a General Practitioner medical consultation will cost only $12 in more than 300 Singapore clinics, $50 for Dental polishing / scaling consultation & many other healthcare benefits. There are also plenty of exciting retail & lifestyle discounts to enjoy. It is totally  * FREE *  to join & you can even sign up for your spouse, kids, & even your domestic helper. Don't worry, there are no obligations whatsoever & you don't need to buy anything. Please click on the link  https://wellnexmember.my-insurer.net/home?referralCode=A000840  to sign up. Yo u are now a Wellnex member, and you just need to  download the Wellnex app To  Sign In the app, your credentials will be: - Username: your email - Password: Same as your email (note the password is case sensitive; you w

Is the FIRE Movement Possible Here? Just like how miles chasers live for the day they fly SQ Suites, or how BTS fans can finally die happy if they could see their idols up close… Personal finance bloggers are obsessed with FIRE (Financial Independence, Retire Early). To achieve FIRE is to become so financially self-sufficient that you no longer need to work to earn an income. You are able to live off your own wealth. Regardless of how much we enjoy working, achieving FIRE is a goal that most of us expense-tracking nerds have always dreamed of. These days, the dream is not just for hardcore nerds, if reports of the growing “FIRE movement” are to be believed. Even regular people want to know if it’s possible for them to retire early, too. (Because who doesn’t have fantasies of quitting to travel the world in a van, right?) So let’s find out what FIRE is, and whether it’s even possible in Singapore. source

When it comes to sustainable living, most of us know the basics: recycling, composting and reusing shopping bags. But sustainability is about so much more. Today, challenges like climate change, social inequality and financial insecurity are putting the well-being of communities at risk. To solve these problems, we can all contribute. Here are some simple sustainable living ideas you can work into your lifestyle. It’s easier than you might think and could save you money. And, you may even be eligible for insurance discounts. You can make a difference, while saving for your future, by investing in companies that offer environmentally friendly products and have sustainable business practices. Ask your Financial Advisor about our Socially Responsible Portfolio Funds, as well as other sustainable options. source

Filing an insurance claim can be unpleasant. Nobody buys insurance hoping to make a claim. Rather, the idea is to take a sensible precaution. Sometimes, insurance claims get denied. That's probably a favourite factoid of people who "don't believe" in insurance. But the conclusion here is not that you should shun insurers altogether. Nor would it make sense to buy blindly into every form of coverage you're tempted by. source>>

Insurance is a way of managing risks. When you buy insurance, you transfer the cost of a potential loss to the insurance company in exchange for a fee, known as the premium. Insurance companies invest the funds securely, so it can grow, and pay out when there’s a claim. Insurance helps you: Own a home, because mortgage lenders need to know your home is protected. It covers you for repairs and replacement of any damage that’s covered in your policy. It provides protection against theft, damage from perils like fire and water, and financial responsibility that could result from a visitor or guest being accidentally injured on your property. Drive vehicles, because few people could afford the repairs, health care costs and legal expenses associated with collisions and injuries without coverage. Auto insurance is also a legal requirement. Maintain your current standard of living if you become disabled or have a critical illness. It covers your day-to-day costs and larger expenses li

Limited resources, unlimited needs All of us have plenty of financial needs. Insurance for protection, investments for our retirement & kid’s education, paying our mortgages, car loans and so on. But our resources are limited. If you are a male aged 35 and need to provide your family with a monthly income of $3,000 for 20 years in the event of your unfortunate demise, you will need about 600,000 cover. If you intend to retire at age 55, Table 1 shows the comparison for the various types of plans. The truth is, how many can afford paying more than $6,000 or $10,000 per year, just to cover his individual death needs? In the above example, we haven’t even considered his medical, his spouse, and his children insurance needs yet. We can discuss all the merits of whole life with cash values and so on, but if we cannot even fully cover our needs,  what’s the point? TABLE 1: Types of insurance plans *This is a packaged plan by one of the insurers. About temporary and permanent

When you think about life insurance policies do you think about the peace of mind you get knowing that you’d be protected for life? Or, do you recall that one time when a friend-turned-financial-advisor sold you an expensive plan called an investment-linked policy? Investment linked policies (ILP) are one of the most complex forms of insurance. Let’s see if you should buy one. source

Insurance and gambling were considered alike because there is an uncertainty of events and payment is made when the event occurs. Like gambling, the insured is unaware of the time and amount of loss. If the event occurs, the insured like the gambler gains; otherwise, they are experiencing the loss. But there are certain differences between the insurance contract and gambling. source

How Do You Decide Which to Choose? All Singaporeans are covered by MediShield Life for the most basic of medical coverage. But on top of MediShield Life, an estimated two-thirds of Singaporeans are also paying for an integrated shield plan (IP) from one of 7 private insurers: AIA Healthshield Gold Max Aviva MyShield AXA Shield Great Eastern Supreme Health NTUC IncomeShield Prudential PruShield Raffles Shield Each insurer offers a few options for their integrated shield plans, which means Singaporeans looking for an IP will have over 25 options to choose from. That sounds daunting, but making your decision is actually easier than it seems. You only need to have a faint idea of what level of coverage you want, and the rest of it is mainly just crunching numbers. Easier than deciding which bubble tea you want at Gong Cha. Ready to compare the heck out of Integrated Shield plans? Let’s go. source

Source: The Straits Times No one wants to be caught short when a life crisis strikes, so it's no wonder that the risk of being financially unprepared tops the list of concerns among Singaporeans. Buying appropriate insurance cover is a way of transferring this risk & getting some protection, but how much is enough & what policies should you consider? A 2012 study by the Life Insurance Association Singapore (LIA) on under-insurance identified a $462 billion gap for working Singaporeans & permanent residents. Many are under-insured, so do check if you and your loved ones are adequately protected This gap is defined as the protection need (death coverage) of all economically active adults here minus Central Provident Fund savings and existing insurance coverage. On an individual level, it comes to $242,500 for a working adult or 3.7 times his annual income, after taking into account CPF savings. Against a backdrop of Singapore's rapidly ageing popul

Financial Advisor Financial consultant is a job title that now has been replaced by financial advisor at most financial services firms. Financial advisor (FA) and financial consultant (FC) are contemporary job titles for what used to be called a stockbroker, broker, account executive or registered representative. A variant spelling, financial adviser , also is used by some firms in the industry, and by some financial reporters and publications. Though the term financial advisor has been in general use since the early 1990s, it is not without controversy. Many critics still maintain that it implies adherence to the strict fiduciary standard that requires acting in the best interests of clients, rather than the less stringent suitability standard that traditionally binds brokers. Merrill Lynch , for example, was among the last of the major firms to adopt the term, entirely due to this concern on the part of its legal and compliance department , which was very conservative at th