Jonathan Chua

ACP, AMD & LPA His hospital bill: $1.2 million This is not what someone paid for a home. Rather it is the medical bill businessman Danny Foo accumulated for the 14 months he was in a vegetative state. The 48-year-old partner of Quayside Group died last Tuesday. He had collapsed and fallen into a coma in July last year, two weeks after he first sought treatment for an infected leg at a private hospital. "Fortunately, Danny had the foresight to buy insurance early. We have only to pay 10 per cent of the bill, but $120,000 is still a pretty huge amount for the family to pay," Mr Foo's elder brother Steven, 49, told The New Paper. source

A supermarket cashier overpays a shopper mom $10 in change. On realising it, the mother promptly returns the excess, knowing the cashier would have to pay for her shortfall from her own purse. Her 7-year-old observes the casual exchange and learns — not just about the virtues of honesty but also that people are worth more than money. Family money values are not printed on a prominently hung poster at home. Instead, they are imprinted in the minds and hearts of our children in a way that can shape their financial and life decisions well into their adulthood. Are experiences more important than things? Is quantity prized over quality? Is it okay not to return money borrowed because it’s just a small sum? What are your family’s money values? While every child will grow up to have their own money values, much of their financial management prowess in the future will be shaped by lessons learned, intentionally or otherwise, in their formative years. source

One SGA App SG Alliance is pleased to introduce One SGA App, a new by invitation only membership platform, offering fantastic medical, financial services and Wellness benefits for you, your family and friends. Sign up here: https://jointo.access-my.app//home?tenantCode=SGA&referralCode=A002683 Please do not worry. This is not an online Scam. Download the authentic app & sign up using your email & password. No other personal details, bank account & credit cards are required. For further information, please feel free to give me a call at SG Alliance. Thank you. Who will Your Insurance Benefits Go to? Here’s what you need to know about Insurance Nomination.  Jonathan Chua of Ignite Wealth Group  explains why appointing nominees for your insurance policies is important and shares tips on how to get it right Insurance nomination applies to life, accident and health policies with death benefits which are governed by Singapore law and issued by licensed insurance comp...

Saving money seems to be a simple concept – spend less, and put excess funds away. However, when you’re actually trying to save, it can sometimes be frustratingly difficult, especially with so many distractions and temptations around. But it doesn’t have to be – there are ways to make saving money more fun! You might have heard of some money-saving strategies such as the $5 bill challenge, expenses tracking challenge or the 52-week challenge. These have worked for many, but this year, try something different – something creative. Here are some suggestions on how you can turn saving money into a fun challenge: Spare Change Challenge 30-Day No Impulse Challenge 100 Envelope Challenge Money Throwdown Challenge “Rainy Day” Challenge Staying Motivated source

Buying a term life insurance can be a daunting process, with the myriad of choices available. Contrary to paying for the traditional life insurance policy, term life offers a lower premium payable for the term of the insurance and greater flexibility. The premium duration differs from yearly renewal to fixed years depending on how the insurance company allocates. Generally, the yearly renewal policy will cost the least, as the insurer’s health condition may deteriorate over time and the premium will most likely rise. Contrary to paying for the traditional life insurance policy, term life offers a lower premium payable for the term of the insurance and greater flexibility. read more

A combination of many factors has led to the recent increase in popularity of medical travel; the high cost of healthcare in industrialized nations, the ease and affordability of international travel, and the improvement of technology and standards of care. A large draw to medical travel is the convenience in comparison to that of other countries. Some countries that operate from a public health-care system are so taxed that it can take a considerable amount of time, to get needed medical care. The time spent waiting for a procedure, such as a hip replacement, can be a year or more in Britain and Canada; however, in Singapore, a patient could feasibly have an operation the day after their after their arrival. Singapore is a popular country for foreign patients seeking medical treatment. Apart from high standard of medical care which is comparable to some of the best hospitals in the world, the cost of treatment at private hospitals is still lower than that at many hospitals in the Stat...

Everyone has a mindset about money and wealth – it’s the attitude you take when making your financial decisions. In order to achieve your financial and life goals, it is important to adopt a healthy and positive wealth mindset. But that isn’t always simple especially with the unpredictability of life’s ups and downs, as well as the long runway of planning required to build our wealth. A positive wealth mindset also doesn’t happen overnight. It takes keeping an open and flexible way of thinking over time, a good sense of discipline, grace in dealing with uncertainty and the ability to stay absolutely committed to achieving your goals. Here are 10 valuable ways to help you transform your thinking and start your journey towards building wealth: Believe that you can Determine what you value Focus away from what’s wrong Forget about the past Be grateful for what you have Create your vision board Prioritise your goals Keep on learning Forgive your mistakes Push yourself positively source

SG Alliance financial consultants are active learners, listeners and planners. The financial consultants are equipped with the resources, training and tools to succeed so we can help you achieve financial wellness too. We commissioned a back-end tech-driven system and website to provide faster, more accurate and user-friendly service for our clients and financial consultants. Our clients can get to know our friendly team or access our wealth management content on demand. Our financial consultants can save time on manual administrative chores and focus on boosting skill sets strengthening client relationships. Our technological innovation enables our financial consultants to devote more time on self-improvement and to better understand what truly matters to our clients. Backed by the SG Alliance advantage, we are poised to make a positive impact on our clients’ wealth management journeys. source

Types of Insurance Business are: Life Insurance or Personal Insurance Life Insurance is different from other insurance in the sense that, here, the subject matter of insurance is the life of a human being. The insurer will pay the fixed amount of insurance at the time of death or at the expiry of the certain period. Property Insurance Under the property insurance property of person/persons are insured against a certain specified risk. The risk may be fire or marine perils, theft of property or goods damage to property at the accident. Marine Insurance Marine insurance provides protection against loss of marine perils. The marine perils are a collision with a rock, or ship, attacks by enemies, fire, and captured by pirates, etc. these perils cause damage, destruction or disappearance o’ the ship and cargo and non-payment of freight. Fire Insurance Fire Insurance covers the risk of fire. In the absence of fire insurance, the fire waste will increase not only to the ...

Singapore’s healthcare system has consistently demonstrated its efficiency, particularly during the current COVID-19 pandemic. However, there’s always room for improvement, especially as consumer needs constantly evolve. Aviva’s recent health survey revealed some interesting findings related to Singaporeans’ personal habits, perceptions and attitudes towards healthcare services, as well as how they’re making healthcare decisions, and where they’re getting their health information from. Here are some key insights that could help nudge us in the right direction towards an even better healthcare experience. source

Dr Charmaine Tan You Mei, Senior Staff Registrar from Post-Acute & Continuing Care at Outram Community Hospital (OCH), shares five ways the elderly can stay healthy and age gracefully. OCH is managed under SingHealth Community Hospitals (SCH), a member of the SingHealth group. 5 Tips for healthy ageing: Keep active Stay connected with friends and family Set goals for yourself to achieve Go for regular health screenings Don't worry, be happy! source

Up to 6% of seniors (aged 65 and above) in Singapore suffer from depression. You don't have to be one of them. Introducing Senior Wellness on Health Buddy - The Senior Wellness function on the Health Buddy app is designed to equip seniors like yourself (and your caregivers) with tools to better manage mental wellness and stay healthy so you can age gracefully and independently. As this information is provided by healthcare professionals, you can be assured that it is advice you can trust. The Senior Wellness functionality was developed by the Sengkang General Hospital (SKH) team as part of their programme within the hospital (SHINE) and in the community (BRIGHT) to reach out to seniors. source

SYNNETTA HO shares how she dealt with her children's multiple food allergies Eczema, asthma, food intolerances and more – they are no one’s fault, says this mother of four, who has seen it all. “We had inconveniences, but not a handicap.” Synnetta Ho believes there are lessons to be learned and silver linings in any “adverse” situation. She has raised four children, aged 15 to 22 years – all of whom have some level of food intolerance. But it’s her third son, David, now 20 years old, whom she says “broadened my experiences”. “He’s anaphylactic,” says the 52-year-old project manager, simply. Since a baby, David was allergic to the typical foods such as dairy, soy, wheat, eggs, nuts, seafood, and more, says Synnetta. However, his allergies didn’t stop at foods – they included dust mites, mould and perfume! “Every time I’d walked into a department store [with him] and whenever we entered a Chinese restaurant where there might be ‘wok’ aroma, he’d turn beet red,” she shares. As David g...

Medisave Account funds are not just for paying medical bills, but can also be used for medical insurance and other policies to meet healthcare needs "You can die in Singapore, but you can’t afford to fall sick here" is a common refrain heard on the street. A recent survey by research company GfK found that 42 per cent of respondents expressed concern about the cost of healthcare in Singapore. September 2013's inflation data released by the Department of Statistics showed that healthcare costs went up by 4 per cent compared to the same period a year ago, higher than the 1.6 per cent increase in the overall consumer price index. But healthcare in Singapore can be affordable. The system has multiple tiers of protection to ensure that no Singaporean is denied access to basic healthcare because of affordability issues. The first tier of protection comes from heavy government subsidies which all Singaporeans can access. The second tier of protection is provided by Medisave, a c...

​An adequate health insurance policy for your child may be the best way to stay covered despite increasing medical costs Getting adequate and comprehensive health insurance for your child is your best bet to hedge against increasing medical costs, according to Ms Wendy Soong, an executive financial consultant with NTUC Income. She suggests considering the following points before shopping for a policy. Tips to choose a health insurance policy for your child - Assess your current financial and medical situation. Medisave funds can be used to pay the annual premiums of basic health insurance or the government-approved Integrated Shield Plans only. All other insurance plans must be paid in cash. How much you pay depends on your child’s age, the age of both parents, the sum assured, and the payment terms and period. How much insurance to buy depends on your desired lifestyle, expectations, affordability and objectives. Review your family’s medical history. If there is a strong history of ca...

Exercise, good financial planning, & healthy mental habits are the key to healthy ageing according to this 85-yr-old Mr Palanisamy Ramadas was born in 1929, the year of the Great Depression. He was 16 when World War II ended, and 36 when Singapore was founded. If you're picturing him as a frail elderly, you couldn't be more wrong. This 85-year old will see you at the gym... or on Twitter. As a young lad milking the family cows in now-Malaysia, Mr Palanisamy Ramadas, now 85, probably didn’t imagine the long life he had ahead of him. His story in a nutshell: He came to Singapore in the early 1950s and started out as a nurse. Became a nursing administrator after pursuing further studies overseas. Got married, had four children, but became a widower nearly 25 years ago after his wife passed away in a car accident in which he was also involved. Having experienced such a tragedy, he could be excused for choosing to live in the past, but the man is focused on the present. His memo...

Riders work well when they are designed to reduce or eliminate additional expenses A health care insurance rider can help take the sting out of large medical bills, allowing policyholders to pay next to nothing or nothing for their treatments. This is because hospitalisation plans typically don’t cover a full medical bill. The insured has to pay a portion of the bill, such as a deductible (the threshold at which the insurance company will start to reimburse the insured for treatments) and a co-payment (the percentage of the rest of the bill that the insured pays). For example, if the bill is $10,000, the deductible amount is $3,000, and the co-insurance percentage is 10 per cent, the insured will have to pay the first $3,000, plus 10 per cent of the remaining $7,000 before insurance kicks in. In other words, he pays $3,700 and the insurance company pays $6,300. Hospital bills for major ailments and critical illnesses can run into the hundreds of thousands, so even with insurance, patie...

Next to oxygen and water, money is probably the most basic essential to living in the modern world. Which is why financial planning services continue to be a high-growth, and therefore, high-earning industry. Financial consultants enjoy a wide range of work flexibility and diversity. From where, when, and how much to work, to who to work with. Of course, the returns are closely correlated to how much the consultant is invested in the work. Monetary gains aside, a career as a financial consultant can be immensely satisfying to the soul. We play a positive role in helping our clients navigate the financially demanding milestones of their lives. So if you are in the market for a career where you can be your own boss, earn in tandem with your aspirations and help others reach their life goals, financial consultancy is a worthy consideration. “Do you have what it takes?”, you may ask. source

People view money in different ways – for some it’s a means of survival, for others, a mere play thing. When it comes to saving and investing, most younger people are unaware of how to best use their money to make them prosperous over a longer period of time, instead of just richer. “Work hard today, so you can breathe easy tomorrow.” Sounds easy? Perhaps it is! One of the biggest mistakes most millennials make these days, is not having a financial plan. Being prosperous involves making the right choices with your riches, irrespective of how much you earn. Most experts and authors are of the view that people can get rich quick, but to remain prosperous over time, it takes good money management; here’s are five essential virtues for a good start: Learn the Math Keep tabs on your worth Visualise your roadmap Build (and manage) your resources Get a money mentor source

“SG Alliance has forged strategic partnerships with like-minded legal professionals such as Quadrant Law LLC, a specialist in corporate and commercial law. All you need to do is reach out and get in touch.” Financial consultants and legal experts make for a powerful combination for clients. Whether personal or business, almost every aspect of life events with financial impact is regulated. From growing and protecting wealth to distributing and claiming it. Yet, people often seek or provide expert advice in silos – with financial solutions drawn up without legal input, or vice versa. As part of its partnership commitment, Quadrant Law LLC is providing complimentary consultation for the first half hour to SG Alliance clients. source