Jonathan Chua

Picking the best plan need not be a painful or costly exercise with the right approach Insurance is one of those things we all feel we need, yet many people plonk it in the to-do basket and promptly forget about it. And it's not as if it's hard to find a reason to put off dealing with insurance: It's complicated, it looks expensive and the returns can look thin and a long way off. Tackling some of those perceptions is one of the drivers behind a major review of the industry announced by the Monetary Authority of Singapore last month. The Financial Advisory Industry Review will look at key aspects such as educational requirements of financial advisers, corporate governance and how agents and advisers are paid for their services. One of the review's key objectives is to lower costs for consumers so that more Singaporeans can take up insurance. There have been many surveys that show how under-insured Singaporeans are. In AIA study last year found ...

Should You Trust Your Gut? Crime author Patricia Cornwell made major headlines last week when she won a 50 million dollar judgment against a financial manager she claimed mismanaged her money. If you’ve ever used, or are thinking about using a financial planner, you already know just how challenging it can be to select the right money manager. The finance manager you interview may have impressive degrees and four different certification abbreviations behind their name, but let’s get real. Most of us have no idea what they even mean. In the end, the decision to fork your hard earned money over to someone else to manage comes down to trust. How can you know if someone deserves your trust? Well, you should start with conducting basic background research and make sure they haven’t been investigated, imprisoned, or had a 50 million dollar jury verdict against them--but you also have to trust your gut . Businesswoman turned leadership coach, Rebecca Heaslip says people h...

Risk management is the basis of insurance. Fear of the uncertain future creates the need for financial protection against a catastrophe. However, I recently stumbled on an article that provides reasons why some types of insurance are unnecessary. Here are the five unnecessary insurance policies mentioned:   1. Mortgage insurance   Instead of focusing on just paying off the mortgage, holistic coverage should be considered. In addition, most companies provide large sum discounts. There are term plans that mirror the mortgage insurance coverage, providing reducing coverage without needing you to submit mortgage documents and revising everything when you change residence.   2. Comprehensive motor insurance   Most drivers opt for low excess and a comprehensive plan instead of third party plan with higher excess. With the rising cost of motor insurance premiums, it is to your benefit to do some calculation if it is worth paying both an arm and a leg fo...

Singaporeans are getting wealthier and living longer but they are not living healthier. This is one the key findings of a survey released by insurer, AIA SIngapore. From a poll of 1,000 people, it found that Singaporeans are on average four years older than their chronological age due to unhealthy lifestyle choices they make each day. source>> Putting health first: AIA's Vitality programme rewards you for improving your lifestyle AIA Singapore has come up with a new programme called Vitality. The scheme, endorsed by the Health Promotion Board, rewards members who take the time and effort to make themselves healthier. -- PHOTO: AIA VITALITY Get healthy on discount Here’s something everyone should ponder: Is your body older than you really are? A recent survey conducted by life insurance giant AIA found that the average Singaporean’s body age is four years older than their chronological age, due to unhealthy lifestyle ...

Deciding whether you need life insurance can be a complicated process. The decision can be even harder when you are younger. This article highlights some of the issues that you should think about. We hope that this will help you to make an educated decision. Providing for Your Dependents If You Die Let's start with the most obvious reason for why someone should invest in life insurance ... the fact that it can replace your income if you die before your dependents. You may want your children to go to college and your family to enjoy a certain kind of lifestyle. Likely, you still want this to happen even if you die prematurely. But, if you are the primary bread winner for your family, they may not be able to afford it if you die and do not have enough savings to cover their expenses. You can address those concerns by buying enough life insurance. You Have Options You have the option of buying a term life insurance policy , which would cover you for a set n...