Jonathan Chua

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. Assure your Love Ones with a well-made insurance nomination We buy insurance for the peace of mind that our lives will not be financially upended by any unforeseeable event. Insurance further assures us that our dependants are well looked after, should anything disrupt our ability to continue providing for them financially. A part of everybody’s financial planning journey is to correctly set up the insurance nomina...

Why you need life insurance Life insurance helps to protect you and your family against financial loss. Find out why you need life insurance and how to assess how much insurance you should buy.  The primary reason we buy life insurance is for protection — it can provide financial back-up during emergencies when we pass on or become totally and permanently disabled. Some life insurance products bundle insurance with an investment component and can be used to provide for your retirement income or to accumulate savings to leave behind for your loved ones. These will cost more.  A life insurance policy is a contract between you and an insurance company. In return for the benefits provided by your policy, you pay a premium for an agreed duration. There are 2 main categories of products: Term insurance – Sometimes called unbundled products as they provide you with protection coverage for a fixed period of time without any investment feature. Bundled products – Refers to...

Who Should Be Blamed For The Unsustainable Increase In Private Healthcare Cost? Earlier this week, the Life Insurance Association (LIA) of Singapore shared some worrying trends about the cost of private healthcare in Singapore. Here are some extracts to consider. The above chart, obtained from the Ministry Of Health (MOH), shows that the median bill size for private hospitals have been increasing at a rate of about 15% per annum over the past two years. This is in contrast to public hospitals, which have seen a reasonable increase of about 2-3%. Singapore long-term inflation rate is about 2-3% per annum. What this means is that while medical bills from public hospitals are in line with our inflation rate, the same cannot be said for bills from private hospitals. When we look at the average bill sizes incurred by the five insurers that provide integrated shield plans, we observe a similar trend. source

In today’s day and age, it is very important to have insurance coverage in order to deal with the uncertainties of life. With the burgeoning need of insurance policies, there are a plethora of insurance products available in the market. However, choosing the right insurance plan according to one’s own suitability depends on various factors. It is important to consider factors like time period, age, number of dependents, and the amount of coverage required before zeroing on an insurance policy. So, doing a little bit of research before making a final decision always helps in choosing the right insurance policy. If we talk about term insurance and a traditional life insurance policy, then both the plans have some advantages and some limitations.  Let’s take a look at these in details in order to understand whether you should consider buying term insurance or a traditional life insurance policy. source

But Asian Tigers Set Expense Limits to Protect Citizens I came down with flu yesterday and had to see the doctor. The bill came up to quite a hefty sum. So it set me thinking – you feel very insecure to see a doctor in Singapore. It is so expensive here and there is no cap on how much Singaporeans and the people living in Singapore have to pay for healthcare. So, I decided to take a look at what the other Asian Tigers (Hong Kong, Taiwan and South Korea) and Japan do with their healthcare system. This is what I found. source