Interview with Les Brown

Christopher Pua interview with Les Brown

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Enhancing Medishield: Better Coverage for Singaporeans

As you may have already know by now, MOH is undergoing a major enhancement exercise on the medishield coverage for all Singaporeans. These changes will impact all existing medishield plans members as well as CPF members holding private integrated shield plan coverage from the major 5 insurers namely: NTUC, GE, Prudential, AIA and Aviva.

The new Private Integrated Shield plans will most probably be launched in the month of Mar 2013 and with some standardisation to the types of plans and benefits offered by the different insurers, the public will now have a easier time making comparison between plans and similar plans offered by different insurers.

That being said, most of these changes has been initiated by MOH which makes some long awaited changes to the basic Medishield plan. Do read the abstract from MOH website below or follow the link to get the full article published on MOH website:

"The Ministry of Health (MOH) held a public consultation in July and August to solicit feedback on the proposed MediShield enhancements to improve coverage and make MediShield more inclusive.

2     All the proposed enhancements received strong support from the vast majority of respondents (see Table 1 in Annex A for details). MOH will thus implement all the proposed enhancements.

3     MOH will also consider the extension of coverage to congenital and neonatal conditions as part of a broader review on supporting healthcare costs for children. This will tie in with on-going deliberations on encouraging marriage and parenthood as well as the “Our Singapore Conversation” (OSC) taking place to shape a consensus on the future of Singapore. For example, Prime Minister suggested earlier that a Medisave account could be set up for newborns and the Government could consider providing a start-up amount for childhood medical expenses. These ideas, including the proposed extension to cover congenital and neonatal conditions under MediShield will be surfaced for discussion at various OSC platforms.

4     Members of public also shared many additional ideas for further improvements to the MediShield scheme, some of which will be adopted for implementation in this round of review (see Table 2 in Annex A for details). Among them, MOH will be increasing the Medisave withdrawal limits for premiums, to fully cover basic MediShield premiums at all ages. MOH will also be removing the maximum entry age of 75 to help more uninsured but healthy elderly obtain insurance coverage. Other suggestions, such as for MediShield to cover outpatient treatment will require further detailed study as it is a major shift in MediShield’s focus and could have significant impact on the premiums.

MediShield Enhancements Effective From 1 March 2013

5     In summary, MOH, in consultation with the public, will make the following enhancements and changes to MediShield from 1 March 2013:

Proposed by MOH

a. Increase the maximum coverage age to 90;

b. Extend coverage to inpatient psychiatric treatment at $100 per day up to 35 days per year;

c. Increase the policy year and lifetime limits from $50,000 to $70,000 and from $200,000 to $300,000 respectively;

d. Extend coverage to short-stay wards in Emergency Departments; and

e. Increase the Class B2/C deductibles moderately by $500 for those aged 80 and below¹.

Additional changes arising from public feedback

a. Increase the Medisave withdrawal limits for MediShield and Integrated Shield Plans premiums from $800 to $1,000 for those aged 76 to 80 and from $1,150 to $1,200 for those above age 80; and

 b. Remove the MediShield maximum entry age of 75 to enable healthy uninsured elderly to obtain coverage.

Update of Premiums : read the full article here.

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Testimony

Testimony by Lin SuMei: May 2012

潘伟德先生，
        是个很诚恳的保险经纪理财顾问。是我所遇到的最好的一位！我很愿意把（他）潘伟德先生介绍给所有有需要帮助的人。他不是为了得到自己利益而去帮别人的一位很好的保险经纪和理财顾问。请大家放心得把他介绍给你身边有需要帮助的朋友！谢谢！！

                                                                                                                      素梅

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Testimony

Testimony by Mdm Surya: Apr 2012

Mr Christopher Pua is my personal Financial Planner, the most extraordinary person that I have met in my 52 years, a very warm, helpful person during my husband stay in Hospital at TTSH.

Last year, my husband has some medical issue and have to be admitted in a Private Hospital. Christopher Pua was very helpful in getting all my bills in time for me to pay my credit card bill. His timing was so perfect that I got my cheque from AIA in time to settle the credit card payment. It was a shock when I total up the bill, it turn out to be $20,000 and above.

It was a great relief that we have coverage with AIA and Christopher was my agent. He is not like any other Insurance Agent, he would answer my call every time I have called him. And also ready to come to assist me in my time when I needed help, also in understanding about my policy.

THANK You Christopher.

Thank you for your assistance

Mdm Surya

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Getting the Fats Right!

sources: http://www.hpb.gov.sg

You probably know that you should not consume too much fat. But is fat all bad? What else should you know about this nutrient? Read on to find out.

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Fat plays an important role in our body, functioning as an energy store, a cushion for vital organs and a transport system for fat-soluble vitamins. That is why we require some fat in our diet. However, as fat is a concentrated source of calories (9kcal/g compared to 4kcal/g for carbohydrate and protein), eating too much may lead to weight gain and obesity.

So how much fat should I have?

Fat should make up about 25-30% of our total energy intake. Based on a typical 2000kcal diet, the total fat allowance is about 55 to 65g a day. It’s easy to exceed this allowance if one is not mindful. For example, if you have a curry puff for breakfast, a bowl of laksa for lunch and a plate of chicken rice for dinner, you would have already consumed 70g of fat.

Are there different types of fat?

Yes, there are 4 types of fat:

• Saturated fat
• Monounsaturated fat
• Polyunsaturated fat
• Trans fat

Fats and oils in food are a mixture of saturated and unsaturated fats. There is usually a higher proportion of a particular type of fat in the mixture. Fats or oils that contain mostly saturated fat are often termed "saturated fat"; likewise, those that contain mostly unsaturated fat of either type are termed "monounsaturated fat" or "polyunsaturated fat".

Did you know that different types of fat can affect your health differently?

The “bad” fats

• Trans fat

Trans fat is formed when vegetable oils undergo hydrogenation, an industrial process that hardens liquid oil to produce fats like hard margarine and shortening. Trans fat raises LDL (‘bad’) cholesterol and lowers HDL (‘good’) cholesterol levels, thus increasing the risk of heart disease. The main sources of trans fat in our diet are pastries, cakes, cookies, biscuits, commercially deep-fried food as well as products containing vegetable shortening and hydrogenated or partially hydrogenated oils.

• Saturated fat

A diet high in saturated fat raises the level of LDL-cholesterol in our body, which increases the risk of heart disease. Major sources of saturated fat include animal fats (e.g. lard, fatty meat, skin of poultry); high-fat dairy products (e.g. full cream milk, butter, ghee); food prepared with palm-based vegetable oil; as well as dishes containing coconut milk or coconut cream.

The “good” fats

• Polyunsaturated fat

There are two main families of polyunsaturated fat: omega-3 and omega-6.

Omega-3 fat helps reduce blood clotting in the arteries, protects arteries from hardening, and reduces the level of triglycerides in the blood. This in turn lowers the risk of heart disease. Good sources of omega-3 fat include fish e.g. salmon, sardine, longtail shad (terubok) and Spanish mackerel (tenggiri papan); walnuts; canola oil and soybean oil; as well as products enriched or fortified with omega-3 (e.g. bread and eggs).

Omega-6 fat also helps improve heart health by reducing total and LDL-cholesterol levels in the blood. Good sources of omega-6 fat include: vegetable oils (e.g. corn oil, soybean oil and sunflower oil); and seeds (e.g. sunflower seeds and sesame seeds).

• Monounsaturated fat

Monounsaturated fat tends to lower total and LDL-cholesterol (“bad” cholesterol) levels in the body. Food rich in monounsaturated fat include vegetable oils (e.g. olive oil, canola oil and peanut oil); most nuts (e.g. almonds, cashew nuts and hazelnuts); as well as avocados.

So what should I do?

As part of healthy eating, aim to consume fat in moderate amounts. Remember, having too much fat, even the ‘good’ types, will provide excess calories. Limit the intake of saturated fat and trans fat in your diet, and replace them with unsaturated fats. Here are some ways for you to do just that:

At home

• Use less oil in cooking. Choose oils higher in unsaturated fat, and avoid re-using oils more than twice.
• Adopt healthier cooking methods (e.g. steaming, baking) more often. Replace coconut milk or coconut cream in cooking with low fat milk.
• Use fat spreads (e.g. margarine, butter, kaya, peanut butter) sparingly.
• Choose low fat dairy products, lean meats, fish and skinless poultry
• Consume fish at least twice a week. Replace meat in dishes with beans and bean products (e.g. tofu) on some days.

When eating out

• Choose dishes prepared without coconut cream or coconut milk
• Replace fried noodles with soup noodles occasionally
• Limit deep-fried food to no more than twice a week.
• Consume high-fat bakery products (e.g. pastries, cakes and cookies) less often.
• Remove visible fat and skin from meat and poultry.
• Ask for less oil and gravy in food.

When shopping

• Read the ingredient list to identify products that contain hydrogenated or partially hydrogenated fats/oils/shortening. These are likely to be high in saturated and trans fat.
• Read the Nutrition Information Panel on food labels to compare the amount of fat in food products.
• Choose products with the Healthier Choice Symbol as they are lower in total and saturated fat compared to other products in similar categories. These products also have no trans fat or only negligible amounts of it per serving.

What about cholesterol?

Cholesterol is not a type of fat. It has a different chemical structure and has different functions in the body. Our liver makes most of the cholesterol our body needs. For some people, a diet high in cholesterol can increase their blood cholesterol levels. To be safe, limit your cholesterol intake to less than 300mg per day. Avoid consuming organ meat and shellfish more than twice a week, and have no more than 4 egg yolks per week

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A Simpler CPF Life

sources from www.cpf.gov.sg: 6 Mar 2012

Singapore has one of the highest life expectancies in the world. For Singaporeans who are aged 65 today, about half of them are expected to live beyond 85, and a third are expected to live beyond 90. Future retirees, including those who will be turning 65 in the next few years are expected to live even longer. A growing proportion of retirees would therefore outlive their CPF savings if they were on the Minimum Sum Scheme. CPF LIFE is therefore a timely and significant enhancement to our retirement adequacy system. It will provide members with an income for life. Taking in members’ feedback during the opt-in phase, CPF LIFE will be simplified to make choosing a plan easier for CPF members. Come 2013, members will have a choice between 2 CPF LIFE plans - a newStandard Plan, and the existing Basic Plan.

o The new Standard Plan combines the best features of the two most popular plans (Balanced and Plus Plans), and will be the default CPF LIFE plan. The Standard Plan provides members with higher monthly payouts while preserving flexibility in the use of their Retirement Account (RA) savings for housing prior to age 65. Members also leave a bequest for their beneficiaries under the Standard Plan. o The Basic Plan will be retained for members who prefer a higher bequest and lower monthly payouts. This plan also provides flexibility for members who wish to use their RA savings for housing after 65 years old.

The simpler CPF LIFE scheme will be effective from 1 January 2013. The majority of members who turn 55 in 2013 will receive their CPF payouts after they reach 65 via CPF LIFE. More information on the new Standard Plan will be released in the third quarter of 2012. Members who turn 55 from 1 January 2013 will receive their customised CPF LIFE packages before they turn 55, and will have sufficient time (six months after their 55th birthday) to choose their preferred CPF LIFE plan, before the default Standard Plan applies. Existing CPF LIFE policyholders on any of the 4 current plans can continue to remain on their existing plans. An existing policyholder may also choose to switch to the new Standard Plan before 31 Dec 2013 if he or she finds that it now better meets his or her retirement needs. Existing policyholders will receive customised informational packages from the third quarter of 2012, to help them better understand the differences between their existing plans and the new Standard plan. For more information, please click here for the joint MOM-CPFB News Release.

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Testimony

Testimony by Yip QiWei: Mar 2012

Christopher Pua-

I find this agent is very different from the others, he will go the extra miles even for the stuff that is not related to his work.

He is a good financial adviser which have done a lot of homework before advising the client.

He is a person who believes in quality service.

Whenever I have insurance enquiry, he will not hesitate to help.

Yip QiWei

Mar 2012

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Testimony

Testimony by Cassandra Chan: Mar 2012

As my financial planner, I find Chris Pua to be a very caring and diligent consultant. He often takes pain to identify and unveil needs and areas for me in order to assist in providing a holistic and comprehensive coverage.

He is also very responsive and responsible in taking care of all issues pertaining to my plans.

I would highly recommend him to anyone who is seeking or have yet to look into planning for themselves or their family.

Cassandra Chan

March 1st, 2012

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Testimony

Testimony by Susan Ng: Jan 2012

God bless that I met Chris. When I'm most in need of help, he is so sincere and he gave me prompt service. Even though I'm not his client, he was willing to help me with my Critical illness claim. So, in future, if I have any insurance needs, I will surely look for Chris.

He doesn't mind the trouble coming by my place on several occasions to settle my claim document even though he doesn't earn any commission from me.

Ng Soh Shan

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Testimony

Testimony by Chong Yin Kiat: Jan 2012

Testimonial for Christopher Pua.

I want to thank Christopher for the financial planning he did for my family. I know Christopher since 2000 and he has been my agent since my first child arrived in the year 2008. I particularly appreciate his approach "I put myself in your shoe", this is unlike other agents I met before, who were just interested to close the deals. There were few times unfortunate moments happen to my child, the policies from him is well covered. On top of that, he's responsive and efficient in chasing the claim process.

Yin Kiat

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Testimony

Testimony by Lawrence Quek: Dec 2011

Chris has been my financial planner since 2008. I treat him like a close brother. I find him to be frank and sincere. I noticed that as a financial planner, he recommends plan according to my needs instead of pushing products to me. And from time to time, he will sit down with us to do a review with us and to refresh about the plans that we have purchased. I feel that the critical illness and hospitalization plan is a must for us as it will help us to lessen our financial burden when such events occurs.

I know a lot of insurance agents, but if there are friends who needs advise on protection or financial planning, I will refer them to Chris.

Lawrence Quek

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Testimony

Testimony from Kelvin: Dec 2011

Chris has been very patient and meticulous. He has great leadership skill and is a people person. Focused on sourcing the best solution for his clients. Strong-willed yet caring individual. He is responsible and always there when you need his assistance. Would recommend his services to my friends for financial planning.

Kelvin Low Kay Kit

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Why you should stop trying to beat the market - Oct. 21, 2011

Why you should stop trying to beat the market - Oct. 21, 2011

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Most S'poreans not well insured: AIA poll

sources http://www.btinvest.com.sg: 22 Jul 2011 11:57 by Lester Hio

NINE out of ten Singaporeans are underinsured and will be forced to downgrade their living standards should anything happen, according to a recent AIA Singapore survey.

The 2011 AIA Singapore Nationwide Protection Survey, conducted between March and June this year, made five key findings with respect to Singaporeans’ perception of life insurance. It found out that Singaporean couples were not having either the correct or complete conversations about their family protection’s needs, and that it was acceptable for dependents to downgrade their living standards or remarry to make up for loss of income should anything happen.

Furthermore, there is the perception that insurance is not affordable, especially with rising costs of living, as well as a slightly misguided idea of what adequate insurance entails.

AIA’s survey was prompted by a 2007 study done by the Life Insurance Association (LIA), which found that the average Singaporean was underinsured by more than 65 per cent. It showed that the average Singaporean was covered for an average of approximately $165,000, when adequate protection, to maintain a similar level of living standards, was estimated to be $495,000.

LIA defines adequate protection as total coverage of approximately ten times one’s annual income.

AIA’s CEO and president of LIA Tan Hak Leh pointed out the discrepancy between knowledge and action.

“We found out that approximately six in ten Singaporeans claim to have a clear idea of how much they need to set aside for their dependents in the event of the death or permanent disability. However, only one in ten Singaporeans is sufficiently protected,” said Mr Tan.

AIA is rolling out a series of public awareness campaigns to inform and increase public knowledge of the insurance gap. It has also collaborated with the National Family Council to implement future plans that would help inform families about the insurance gap and to help build financial resilience for families.

Lim Soon Hock, chairman of the council, says that the collaboration would help with the council’s charter in building “strong, resilient and happier families”.

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Nancy McGuirk: The Brevity of Life

"only one life, 'twill soon be past;

only what's done for Christ will last."

- C.T. Studd

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60 Minutes [CBS] - The day of reckoning - State and Local Budgets Crisis - State and Local Bon...

The "day of reckoning" as the Senator Chris Christie puts it, is coming to all Americans as they realized that the states they lived in are running out of money and are unable to pay off their debt obligations when they are due. Their over spending and excessive benefits programs in the country has caused America to arrive at this state of their economy. They have dug a financial pit hole so deep that I believe it would take many future generations' labour to pay back their current debts, and that's provided they stop their overspending.

Watch this video, and get yourself prepared for the NEXT big Crisis that may bring America to its knee, and how it could affect your future even if you are living outside the USA.

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Fiat Currency or Real Assets, take your pick

Ever wonder how the story of each fiat currency plays out in the end? Ever question why things are getting more expensive? What's the cause of inflation? is it true that food and things are getting scarce? Or are our money worth less now because loose monetary policies around the world?

So, if these fiat currencies are devaluing each day, wouldn't it be wise to store your monetary value in real assets like gold, silver and other commodities? Take a pick, because when the day of reckoning comes, it will be too late when you realized that your paper dollar has turned into monopoly money.

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Meltup

I would to share this video I found on www.inflation.us it's a very interesting video on the impending hyperinflation that may strike the US economy, and how it will affect the whole economy and ultimately how it will matter to you. Educate yourself and be prepared for the next huge financial roller coster ride.

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Overdose: The Next Financial Crisis

Educate yourself in what's coming our way. Man, when this next financial bubble burst, it's going to be so huge, it will make the Leman Brothers collapse and the 2008 crisis looks like child's play.

Prepare yourself for the mother of all bubbles.

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Close to 12,000 opt for CPF Life

Source: Straits Times Oct 18, 2009

Close to 12,000 opt for CPF Life

By Jamie Ee Wen Wei

It has been a busy month at the Central Provident Fund (CPF) Board.

Members have been flooding its offices and phone lines with questions about the new CPF Lifelong Income Scheme For The Elderly (CPF Life), which was opened last month to those aged 55 and above.

Almost 30,000 people have walked into its five service centres to ask about the scheme, said Mr Tey Chee Keong, deputy director of CPF Board's lifelong income department.

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Payout of $360 a month on retiring

In two years' time, when she turns 62, Madam Yeo Ai Kiaw (above) will get a payout of about $360 a month from her CPF Life Basic plan.

The plan, which has the lowest payout among the four options, will allow her to leave more money to her beneficiaries when she dies.

'My husband and I are now living with our son. He and his wife take care of all the household bills. I don't have to worry about anything,' said the sprightly 60-year-old.

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Preparing himself for a longer life

Mr Palaniappan Kannappa is not afraid of death but he is worried about 'living too long'.

'The Minimum Sum in my CPF will dry up in about 20 years. What will happen if I live longer than that?' he said. So the 59-year-old accountant started shopping for a retirement policy a year ago.

Around that time, he read about the CPF Life plan, which was introduced to the public last year.

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Mr Cheng Yew Fatt wants to remain independent in his old age

Mr Cheng Yew Fatt wants to remain independent in his old age.

For this reason, the 55-year-old, who is unemployed, signed up for the CPF Life Plus plan last month.

It provides him with a higher monthly payout than the Life Balanced plan, but leaves less for his beneficiaries. It suits him because he feels his three children are already well protected financially.

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His savings will run out in 5 years

Mr Lee Poh Lee is a family man, but last month, he signed up for the CPF Life Income Plan, which will give him the maximum payout from his CPF from next year.

The 63-year-old, who runs a crane rental company, decided on this plan because his CPF savings are low.

'I've only about $19,000 in my CPF so it'll run out very fast.'

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He's not signing up

When Mr Christopher Seet turned 55, he invested $70,000 from his CPF in an American International Assurance (AIA) annuity plan.

Early this year, he started getting a monthly payout of $562.

Now 62, Mr Seet does not intend to sign up for CPF Life. He said it does not bother him that the monthly payout he is getting now will last for only 17 years, unlike the CPF annuity scheme, which is for a lifetime. 'What is important is the present. If I really outlive my savings, then I'll just have to find some way to make ends meet.'