Useless

Yup. Useless. What is the point of working so hard and earning an income but not protecting it? It's useless in my opinion.

Most of my clients and prospects are working adults, ranging from late 20s to 50s. Most of them are working. They are working to earn a good income and hopefully they can save and grow their money. They have good intentions. But many are forgetting about protecting their income.

You should know by now that your ability to earn an income is your biggest asset. But many of you think that maybe $300,000 or $500,000 is a good and big enough coverage. You are dead wrong!!

Do you know a worker in his 30s who earns $4,500 a month, with let say a pay rise of 5% a year, will earn about $4 million when he reach retirement age of 65? I'm not even counting bonuses and job promotions.

Now my question to you, if you are in your 30s, do you have $4 million cash in your bank account now? Maybe most of you don't. It is because that $4 million is your future worth that is unrealised yet. You will reach there assuming nothing unexpected happens. But can you guarantee 100% for the next 35 years you will not get sick or accident, etc? 

Imagine if you are struck by illness or disability and you cannot work, that means you lose the opportunity to earn that $4 million. Now you are left with whatever you have in the bank and you have to continue living with what you have. It's not a fun situation I believe.

This is why a disability income benefit plan is created. The insurance company will pay you maybe up to 75% of your monthly income if you cannot work due to illness and disability. With this plan, you can rest assure that you don't have to worry about your family and the monthly expenses, because this plan will be your substitute income earner. You will be able to achieve your future worth, no matter what happen.

telegraph.co.uk

Cheers! Have a great day.

1 second

Yes 1 second can really change your life. Just like what happened to this family. An accident in an instant changed their life forever.

http://www.lifehappens.org/portfolio/nicolas-virgen-still-watching-over-them/

"Nicolas, a self-employed painter, had life insurance for himself but was reluctant to buy a policy for his stay-at-home wife, Teresa. But his insurance agent was persuasive and convinced him to cover her too. When a terrible car accident killed Teresa and left Nicolas badly injured, the money from her policy is what paid the bills and kept the family in their home until Nicolas could return to work." Taken from youtube.


Every husband and wife according to my opinion have to be insured. It does not matter if the wife is a stay at home mom or not. It does not matter if she is working or not. She is valuable! She have to be insured.


After you see the video, you will understand how a stay at home wife need an insurance as well. It is because Teresa had an insurance, her husband can recuperate from his injury without worrying about the bills. The kids are able to continue their school and they are able to keep their home. She continue to keep watch over them even when she is no longer around. 


Cheers! Have a great day.

Melbourne crash victims

Financial difficulties. No one in this world ever want financial difficulties. But it's funny that many people do not want to plan for the unexpected, because they think it will never happen to them. But take a look at the recent accident of a family from Singapore while they are on holiday in Melbourne.

It is very devastating, I think almost everyone were hospitalised, some with major injuries and some with minor injuries. Furthermore, 1 child died because of the accident. Now there is still 1 more child in the hospital while the rest of the family members need regular check up to the hospitals. They need to be in Melbourne for another 3 months before they are fit for travel.

They are now facing financial difficulties because they need about S$6,500 per month for all the expenses and they will need it for the next 3 months at least. For now, the Muslim community have been providing packed meals for them. Then an informal group on facebook have raised A$1,300. But it is far from enough.

Luckily, the insurance company is now in the process to help the family. So I guess the family had bought some insurance before, which I'm really really glad. That means somewhere out there, there is a good adviser who have done their job. Well done in protecting this family!

In this scenario, a travel insurance is very useful. It will cover all your medical expenses and even giving you hospital income (e.g. $200 for each day you are hospitalised) which can be use to cover the other expenses such as food and accomodation. It is also useful because travel insurance cover medical evacuation, repatriation and even death and disability.

Other insurance which can be useful in this scenario is disability cover. Which means if you are unable to work, we will give you replacement income. Even if its partial disability, you still can enjoy the pay out and you won't have to worry about your expenses.

So let me end this post with a quote from the article, "The parents are extremely distressed. They've had to deal with loss of a child. Money problems don't help at all."

Insurance will not replace your loved ones. Let me say that again, insurance will not replace your loved ones. But I can guarantee you that insurance will help you in times of need, so that you will have less things to worry about. You will not have to worry about the burden of financial difficulties!



Cheers! Have a great day.

Biggest asset

Do you know what is the biggest asset in your life?
Do you think it is your house? your jewellery? your car? your money? your business? etc.






Of course not!






It is you!

It is your ability to earn income. That is the biggest asset in your life. All the plans that you have for yourself and your family's future is based on the assumption that you can continue to earn an income. Whether working in your job, managing your own business, managing your investments, etc. All of that takes your ability and your time to earn the income. If you lose that ability, how can you maintain your life style? can you service your home loan? can you send your kids to good universities? can you build up a retirement fund? Can you?

This is why a disability coverage is important. It is to replace your lost income. You can even calculate your self how much future earnings you will lost if you suddenly are unable to work.


Let's assume a 35 years old earning $50,000 a year. If he is suppose to work until he is age 55 which is the retirement age, that means he still got another 20 years to earn. What if he is suddenly disabled, how much future earnings does he lose? With a simple calculation, it will be $1 million worth of income that he lose. This is very simple calculation. But the number should be much more, because I did not take into account his increase in wages when he got promoted, I also did not take into account his yearly bonuses, etc. Maybe the number could be $2-3 million.

Believe me. Majority of people's savings will only be enough to last them a few years at most. Maybe only a few months for many of them. Then what will happen?

Think!! It is your life and your loved ones. Take action and be responsible now.



Cheers! Have a great day.


Image from totalticketsystem.com

Thai teen who lost legs

Read the full report at http://www.channelnewsasia.com/stories/singaporelocalnews/view/1158934/1/.html

Accident, accident, accident. It can happen anywhere, anytime to anyone. No matter how safe you think you are, there is always that risk for accident to occur. Just take a look at the article above, it is the Thai teen that make headlines few months back, when she fell down into the MRT track and lost her legs. Now she is still in the pursuit of suing SMRT to pay her compensation of $3.4 million.

In my opinion, she should not sued SMRT because she fell by her self. None of the SMRT staff pushed her down or the MRT platform suddenly broken which make her fell. I understand she needs money for her future medical and living expenses. But this is not the way, to blame other party for compensation. I have been riding MRT for many years, even without the barriers, I don't see people falling down. So she can't blame SMRT for not having the barriers either. There are enough signs and warnings to be cautious and be safe in the MRT station.

What irritate me the most is that her father is an insurance agent. Why didn't he insured all his family, including her? He should know better that accident can happen to anyone. He is not being responsible. He should take charge in insuring his family to make sure that if something unfortunate happens, they don't have to worry about future expenses.

Therefore, my advise to you, be responsible for your self and your family. Make sure that you are adequately covered. A personal accident plan is one of the cheapest plan available. Get it when you don't need it.

Cheers! Have a great day.

$1 million for disabled worker

As you can see from the article, this construction worker was awarded $1 million for the accident that happened. That sum is to cover his loss of future earnings.

You may not know, but the average salary of a construction worker is about $1,000 to $1,500 monthly.

If he was awarded $1 million, how much do you think your disability coverage should be?

Do not under-estimate your future economic worth. If you are earning $50,000 a year now, you would have accumulate $1 million in 20 years. That is not including bonuses and pay rise over the years. Can you imagine if suddenly you are disabled? how much do you lose in your future earnings?

You are worth more thank you think.

Cheers! Have a great day.