Jonathan Chua

Mr Lim Yew Seng, 59, is facing a problem with the distribution of his late wife's CPF savings Anyone can draft a will for themselves in Singapore, as long as they meet a list of criteria. A will is a legal document containing instructions for the distribution of one’s assets upon death. Without a will, the distribution of your assets will be handled by the state. Hence, a will ensures that any special wishes you have will be carried out without any confusion or disputes within your family. However, there are a few key points to note for your will to be respected by the law: Register your will with the Insolvency and Public Trustee’s Office Depositing information about your will to the Wills Registry , maintained by the Public Trustee, makes it easier to establish its validity. While the registry does not record the actual contents of your will, testators or the appointed lawyers can submit details such as the location and date of the will. Write a new will after marr...

The insurance sector is grappling with the problem of mis-selling of life insurance policies. And, even the Insurance Regulatory and Development Authority (Irda) has asked for advertisements that clearly say the regulator does not announce bonuses. Potential buyers need to do their homework before buying any policy. It is always a tough job to choose the right one. What you need to do is be ready with a set of questions. For example, the first question to ask the agent is – Why should I should buy this policy? This is an important question because it tells you the sales pitch. If it is about saving tax and you don’t have a policy already, there is a case for buying. But if you do have one or more, there is no need to add. And, if the seller peddles higher returns, especially as the market is doing well, it’s best to avoid the policy. source>>

The ABCs of Buying Insurances in Singapore Insurance is important. What is more important is making sure you know the basics so that you can ask your financial advisor the right questions. DollarsAndSense.sg explains the fundamentals worth knowing. The basic idea of insurance is to have everyone contribute an amount and to pool it together into some sort of piggy bank. The piggy bank will be used in the future to pay for the cost of taking care of any of the contributors when he or she falls ill, or gets injured, or whatever else it is designated for. That’s the simplest way of looking at insurance. If you like to know what are the some of the “must-knows” of before buying any insurance, do read a previous article whereby we covered some of the key areas of insurances. r elated: A Must-Read Article Before Buying Any Insurance in Singapore The Myths and Realities of Insurance Insurance Industry Review By MAS: Is It Enough? The fine prints of health insurance Case Study:...

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Jurong West Branch May 2016