Weekend Blues

Diet. Exercise. Work. Diet. Exercise. Work.

Climbed 4 flights of escalators a day (in heels).

Yet, I lost only 1.5kg during the last 2 weeks.

Sigh.

I feel so tired nowadays.

What Women Want

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The Pill

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Insurance & Us

Insurance

The Financial Plans we recommend and construct for our clients comprise three major components : savings, investments and insurance. It's probably not hard to guess which one generates the least enthusiasm among most clients. And we understand that. Because Insurance is that rare product that we all purchase with the hope that we'll never actually have to use it.

But none of that deters us from the belief that the risk-management role insurance plays in your financial plan is essential. Because carefully considered plan must always contain certain provisions for the unexpected : a careless driver who runs a red light and broadsides your car, a thunderstorm that pummels the roof of your home, flooding water that destroy your furniture and belongings, back surgery that prevents you from working for several months, a critical illness, or even the unexpected death of a member of the family.

No, buying insurance isn't thrilling. But being properly insured is both a smart business decision and a responsible personal act that provides you and those who depend on you with a genuine sense of security. That's why we offer and a recommend a full suite of high quality insurance products.

Life Insurance What does a financial plan consist of? Most people are quick to respond with a list of investment products : stocks, bonds, mutual funds, IRAs, and college savings plans. But from the outset, financial planning has been based on the idea that a complete financial plan consists of savings, investments, and yes, life insurance. Because any truly effective plan must address not only the unexpected and hoped-for outcome, but also the possibility of an unexpected and disruptive outcome. Simply put, there must always be a "Plan B". And life insurance is the very definition of that : a contingency plan that ensures a family's objectives can still be attained even with a loss of a key member. Cant we talk about anything else? There are two unwavering truths about life insurance : - nobody likes talking about it. - nobody like paying for it. Why? Because purchasing life insurance is an admission of your own mortality - or that of those close to you. And paying for insurance can be unfulfilling because there is no benefit unless you or someone you care about dies. But the fact of the matter is that talking about the possibility of death doesn't make it any more likely and not talking about it may leave you unprepared.

The Many Roles of Life Insurance Maybe the best way to overcome this reluctance to discuss life insurance is to focus on its practical benefits. The proceeds of a life insurance policy can be used for :

- : paying for final expenses

The estimated final (funeral) expenses for an individual from either one of the three main racial groups in Singapore are as below :

Malays - $3000 to $5000

Indians - $5000 to $8000

Chinese - $10,000 to $50,000

- : settling unpaid medical bills

The medical and hospitalisation bills for an average Singaporean age 50 who has heart disease and kidney failure, cost about $150,000 a year.

- : paying off other debt, like cars or credit cards

A Singaporean with a car and at least one credit card, has an average of at least $60,000 worth of outstanding credit card and car loans.

- : providing income for survivors

A sole-breadwinner of a family and has two young kids and has a gross income of $4,000/- a month would need $500,000 in savings in order for his family to maintain the present lifestyle in the event of his unexpected death.

- : providing money to pay for children's educations

A 3-year Programme in National University of Singapore would cost $27,966 today, but in 15 years, it would cost $58,139 whereas in Monash University, Australia, a 3-year programme would cost $104,532 today, but in 15 years, it would cost $217,312.

- : paying off a mortgage

- : settling estate taxes

- : retirement

Of course, not everyone has all of these needs. But your Financial Consultant/Advisor have been extensively trained to assess your situation and listen to your needs. After doing so, he or she will take the time to explain how much and what types of insurance, permanent or temporary, make sense for you and then incorporate that information into a comprehensive emergency plan.

Keeping the future alive

The somber and sometimes complex nature of life insurance too often detracts from the responsible and unselfish instincts that ultimately motivate people to purchase it. Think of it this way : You seek out a financial plan because you have dreams for your family's future : You include life insurance in that plan to provide an extra measure of assurance for your family and security for the future.

Long-Term Care Insurance

The first question most people ask about long-term care insurance is .... what exactly is it? So let's start there. By definition, long-term care is any situation in which a person requires assistance with medical, personal or social services to meet basic daily living needs over an extended period of time.

The need for long-term care might be due to a terminal condition, disability, illness, injury or the infirmity of old age. Experts estimate that more than half of all people will need extended help during their lifetime. That need may last for only a few weeks - or for years.

So what does long term care insurance cover?

Long term care insurance can help pay for services that provide assistance with Activities of Daily living (ADLs) that a person cannot perform by herself or himself, such as bathing, dressing and eating. These services may be provided in a nursing home, in an assisted living facility or at home. Types and amounts of coverage vary by policy, and your Advisor can help you explore options to determine what coverage may be right for you.

Why consider long-term care insurance?

Most people fail to plan for long-term care. They offer a variety of excuses to justify that decision, most of which boil down to : I'm willing to take the risk that I won't need a long-term care insurance. It seems ironic given that nearly everyone is required to insure their home against fire, an event approximately 100 times less likely to occur than the need for long-term care. Or insure for an auto-accident when the risk of needing long-term care is more than 7 times higher - potentially 20 times more expensive.

Are we questioning the wisdom of auto and homeowners insurance? Certainly not. We recommend both to our clients, as prudent risk management. We're simply attempting to lend some perspective to people's denial of the risks associated with long term care and their refusal to address. Does that mean we believe everyone should buy long-term care insurance? No. There are legitimate reasons why the product may not be right for some people. Your advisor can visit with you about your particular situation and anticipated needs and help you determine the best way to deal with the possibility that you'll need long-term care.

Disability Income Insurance

Disability income insurance is designed to replace a portion of your income if you become disabled due to sickness or accident. Your employer may provide this type of insurance. If not - or if you are self- employed - you may want to consider adding this benefit to your plan.

Be prepared

Insurance that protects the income of a family's primary wage earner is an essential component of any emergency plan. Whether disability income is offered through your employer or not, your advisor can help you understand policies and coverages to determine whether your coverage is sufficient to meet your needs.