Jonathan Chua

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Financial Advisor Financial consultant is a job title that now has been replaced by financial advisor at most financial services firms.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...

All You Need to Know Before Buying Your First Plan When you’re young and naive and believe that everything will work out somehow, it’s pretty hard to imagine ever needing to buy insurance. Yet, getting your insurance portfolio in order is probably one of the best things you can do for your finances. And in fact, it’s best to do it while you’re young and healthy. To help you make sense of the world of insurance so you can compare the different insurance plans, we have crafted this comprehensive guide. Consider it your very own Idiot’s Guide to Insurance in Singapore. source