Happy & Sad stuff…

I have happy things as well as sad things to blog. Haiz!


I shall blog about the happy stuff first.

Finally met up with my long-time-no-see NP-ACC mates. I was excited even prior to meeting them because so many stuff were already running through my mind. Like, have they changed much, until I cant recognise them? Will we have stuff to chat after years of absence? Will there be an awkward moment? God No. We couldnt stop yakking away the moment we met and we’re so excited tossing questions at each other enthusiastically about how we all have been. I’m really ecstatic to see them. =) There were 6 of us, namely Li, Jan, Hm, Pau, JS and me.

The one with the most updates will be Jan because not only has she got married, her first baby born son Sky is also turning 1 year old soon! Too bad I dont have pictures of her darling. Anyway I will much prefer to see the real-good-thing when I visit her at her home soon.

She regaled us with her horrifying pregnancy which scared all of us(childless lot) into muted bewilderment. First, it was the 10hours which she spent lying on the bed, for trying un-successfully to give birth. That’s why she said her bill came up to $8K plus at Mt Alvernia because the doctor induced birth. Secondly, despite the 10hours, it was still unsuccessful and she has to do cesarean. Thirdly, she was given anaesthetic for the lower body only and suffered massive side-effects by vomiting non-stop after that. Fourthly, because of her vomiting, she has to be on the drip for few days after her pregnancy….Guess what…after more than 10hours of labour and cant eat anything! Fifthly, she suffered a minor depression when she was having her 1month confinement.


We had our dinner at Raffles City, The Asian Kitchen, followed by chilling at Gloria Jeans Coffee. I had so much laughs during those moments. They also asked how’s my wedding preparations coming up, the costs about wedding la, housing arrangement and we discussed about the common topics like MIL relationships and household expenses arrangement etc. Jan and Pau really damn funny lah! Hahaha! But I probably cant blog down what’s SO FUNNY because *ahem*…in case my sensitive husband got “jumpy” again.

Initially, JS was late. And I was kidding it must be because he’s busy buying flowers for Li. It turned out true! When he presented a small bouquet of sunflower to the charmingly embarrassed Li, the WHOLE group laughed like nobody’s business. Hahaha! They said I can be fortune teller liao. Muahahaha.

Actually no lah, JS has always being the romantic gentleman in our class. And to our class bella Li who will be going away for 3 years, it’s no doubt he will go to such great lengths. =) Oh We also have to thank him for picking the tab. I think quite a huge tab for the amount we’ve eaten. Despite how I teased him that he dont have to treat us other than the lady-in-honour, he still refused to accept our monies. Oh well Thanks! Seriously, he’s a real 体贴 guy. When the few of us remarked our Ice Chocolate wasnt sweet enough, he immediately went and get chocolate powder and chocolate fudge for us. How I wish my hubby can be more 体贴. =P

But he left shortly after we settled at Gloria Jeans. Probably because all our topics revolved around females stuff. When Pau asked me what were the side-effects of me consuming the slimming pills back then before my ROM, I said out loud, “前面没有掉lor!(breasts shrunk!)”. Upon seeing JS’s constipated face trying to control not to laugh, then I realised, “opps, please pretend you didnt hear that”. Haha. But rather than giving Pau the wrong impression that the effects are permanent, I told her after I started eating like a cow immediately after my ROM, along with the weight, back comes the breasts. LOL. Yeah. So it’s still fine lah. Muahahaha.

Yeah. I will try to organize more outings in future if possible between the few of us. I just know Hm and Pau all worked in Raffles Place like me too. Jan, however, is a housewife cum part-time student. I urged Pau and Hm to get facebook too since Li probably cant join us for a long long time already. Haiz. She’s flying coming sunday.

So anyway, got to get my ass up to upload the pictures we took at Asian Kitchen, along with the few with Kel, Jy which I’m lazy to post earlier on.

Hm, Pau, Jan, Me, Li. Actually we felt we didnt really change much. Haha.

Without flash. My hair look darker and healthier. Haha.

Ah…this picture Hm closed her eyes.

And this picture Li closed her eyes. ZzZ have to be fair to both huh by posting both.

Hmmm…..suddenly feel my chin is very sharp…..=X
I dont want my chin to be sharppppp………I want my FEATURES to be sharpppp………I dont want to be tare-panda…… =(

At Cyclone Pub. Kel & J. Remember I told you about the GIANT lobster? HAHA!

With Kel and Jy

The 2 cute mummies

Ah…..gross…I must start practicing how to smile naturally already for the upcoming shoot….gosh…my smile looked so spastic and constipated. Damn gross lor! =X

Okie…now for the slightly gloomier stuff.

Haiz. Despite how I favor HSBC bank services, heard they’re not doing so well too. Think CITI bank is worse situation. It seems OCBC bank is the more sound and solvent among the local banks. Hopefully all pulls through, as I heard Jan’s hubby is working in CITI Bank as a banker. Jan is not working and they just got a baby. Haiz. Hope all are well lah, including myself.

And………I got another claim to settle already. Death claim. Sigh. =(



Haiz…….please…..get yourselves covered, sufficently. Recession or no recession, catastrophes dont struck by seasons or weather. And for god’s sake, if you own a car, please get at least a decent coverage for yourself. Because it makes no sense that your car got covered for more than you! You’re definitely worth more isnt it?


New Product by Prudential & Great Eastern

Prudential has come up with a new product; Pru Multiple Crisis Cover(PMC).

Interestingly, it works differently as compared with other term plans in the market. As the name suggests, it’s a term protection plan specially designed to cover major illnesses. On top of that, the special feature includes one can claim up to 3 times, subjected to the terms and conditions.

They have categorized the different types of insurable major illnesses into 7 big groups.

Group 1: Major Cancers
Group 2: Major Organ Failure (kidney/liver failure)
Group 3: Heart-related (heart attack, by-pass)
Group 4: Neuro-Muscular (stroke, Alzheimer’s, coma)
Group 5: Infectious (bacterial meningitis)
Group 6: Accident related (burns)
Group 7: Sensory Loss (loss of sight/speech)

As mentioned, the max number of claims is 3 times. It’s subjected to a max of 2 cancers claims, including relapses of the same cancer with a 5 year waiting period in between. Meaning, if the relapse happens within 5 years, it’s not claimable. Also, any other 2nd claims must come from other different groups of major illness(only major cancers group can claim twice), also subjected to a 1 year waiting period. Death benefit is a flat $3000.

When I first got to know this plan, a cynical smile uncontrollably spreaded across my face. For I’m sure this plan with it’s “can claim up to 3 times” undeniably will stir quite a lot of attention, especially from kiasu Singaporeans who always think “more is good”.

Let me do an analysis for you. I’ll be fair, I promise. Pros and cons included. =)

Pro 1) Usually after one is diagnosed with a major illness or is undergoing treatment, he/she cannot buy any more insurance plans because they will mostly be rejected.

PMC provides protection against other major illnesses even after diagnose of any major illness.

Pro 2) There’s a waiver of premium right after the diagnose of any major illness. Meaning, one need not continue to fork out extra costs to maintain a term policy but still enjoys the protection.

Pro 3) One can claim up to 3 times, assuming one is really that suay to kanna major illnesses again and again. And cancer claims can claim for a max of 2 times, including relapses.

Here comes the cons, in conjunction with the pros

The cons are in fact all related to how the claim can be approved.

For a 2nd and 3rd claim if any, the major illness MUST come from a different group of major illnesses and they largely lowers the probability and possibility of successful claims. Because it’s like, if you suffered a Heart Attack under Group 3(heart-related) and did a 1st claim, subsequently, you cant claim 2nd time for any by-pass surgery or heart valve surgery etc because they’re in the same group. And we know usually the virus loitters around the same area huh because it’s all inter-connected.

What’s more, even if one contracted major illness from different groups, they also have to be subjected to a 1 year waiting period. So it’s like, if one contracted liver cancer(group 1 major cancers), did the first claim, but within a year was involved in an accident and hence lost his sight, i.e, became blind(group 7 sensory loss), the claim also wont be entertained. That will again, further reduce the probability of a successful claim.

And another thing is, it’s very low chance that anyone can contract TWO major illnesses in his life bah. I mean, ONE is enough to take your life. Usually GOD wont be that…you know. Unless you’re very sway…just my personal opinion. Though illness+accident got higher chance..

Although there’s a max of 2 claims in Group 1, major cancers group including relapses of the same cancer, there’s a 5 year waiting period. So if after the first claim of cancer, subsequently one contracted another kind of cancer or suffers a relapse of the same cancer within 5 years, it’s still not claimable.

So in conclusion, the slogan of “can claim for a maximum of 3 times!!” really doesnt appeal to me, after reading all the footnotes.

Like I said before, insurance plans do have their loop holes so sometimes you need to buy a few plans to complement each other economically so that to ensure full coverage. However, another con is, PMC as a term plan in comparison with the market, the premium is considered very expensive(almost 2 times).

And even after I multiplied the coverage by 2(or dividing the premium by half) to ASSUME that YES, Guy A really contracted cancer and suffered a relapse only after 5 years, hence he claimed twice, the premium is still considered more expensive than what’s offering in the market. Despite how I have multiplied the coverage even though it might not be easily claimed with all the conditions thereof.

Many people have the wrong impression that major illness plan can only buy 1 because one can only claim from 1 insurance company or only from 1 policy. That’s a misconception. You can buy as many life plans or major illness plans as you like, depending on your need and how much you like your beneficiary to inherit because they’re all payable as lump sums and NOT on a reimbursement basis. For hospitalization and surgery plans, YES, they’re on a reimbursement basis, meaning you cant claim more than 100% of your bill. But for life and major illness plans, how much you buy, how much we pay.

Lastly, I dont really heart term plans because they got no cash values. Very simple. I’m just someone who prefer to pay monthly housing installments so that I can OWN the house in like 10-20years time INSTEAD of paying rental expenses every month without any holdings to the property in the near or far future.

But because for hospitalization and surgery plans I got no choice, they’re all term. But for life and major illnesses plans, we have a choice. We can get a life plan and hence get all our premiums back with interest.

Great Eastern, my company is coming up with a new plan too in March. I dont have much details about the real thing but I’m real excited about it. Because it works differently from all other products in the market too. Generally, all major illnesses plans only pay out when cancers striked the 3rd stage where cancer cells has spreaded. But this new plan, pays portion at different stages of a cancer.

1st stage of cancer diagnosed, 10% of the sum assured(e.g, $100K) a.k.a, $10K can be claimed FIRST.

When 2nd stage is diagnosed, another 20%, a.k.a, $20K can be claimed again.

When the final stage is diagnosed, then the remaining sum assured a.k.a $70K will be paid off by the insurance company.

As I still dont have the details, I cant elaborate more. But I think it’s pretty clear cut bah. As in 1st stage is 1st stage, 2nd stage is 2nd stage because all these cancer stages are determined by doctors and not GE itself. As for the percentage of the pre-payments, yet to be confirmed.

But it really sounds great. Gonna buy it myself when it’s launched after I check it out. So stay tuned~

Hmm….no offence to any Pru fans and well, if I sound offensive and biased, it’s not intentional because they’re purely based on my personal opinions.

Disclaimer: All information stated are in no reflection to the actual product stated and are purely illustrated as the author’s own personal opinions and in her own perspectives. Author assumes no responsibility for any miscommunication or inaccuracies of info for any losses that might be incurred.

Funny people

Just now I met a prospect who openly declared her distaste for insurance and said she’s not a believer. What’s interesting was, she was actually underwriter previously for 10 years, of 3 different insurance companies. And she said she knew all the “loopholes” and all the “bad stuff” with insurances and that it’s not easily claimable. Not even 10 years of association in that industry can change her view. Additionally she was sick with the politics and gradually quit that line.

Hmmm….interesting. By the way, ANYWHERE also got politics lah. I repeated that umpteen times to people. Want a place without politics? Sorry, cant think of any. Hmm…Unless work in zoo lor. Face the animals, sure no politics. Unless you’re rich enough to publish your own books, then yeah, no politics.

You know once in awhile I will meet this kind of clients. What kind?
The kind who thinks they-know-it-all, and know-it-best. But the fact is, they dont.

“Wow. 10years. Oh I see.”

“How about you? How many years you worked as an advisor?”

“Coming 5 years. My hubby, coming 7 years.”

“orhhhhhh 5 years only huh, I 10years. *smug*”

Despite how much I’m mentally rolling my eyes at the back of my head, Okie I know I’m very bad but I cant help it. Just listen to my explanation.

Firstly, she said she worked 10 years as a underwriter. A underwriter is one who underwrites a case, and determine whether it’s acceptable, if so, with what conditions, limits and exclusions. It’s dependent on the client’s health, policy amount and policy type. So she is the one who ascertains the risk involved and worked out quotations and loading rates etc. So dont blame me with any strict loadings or liens ah, because it’s all the underwriter’s decisions. =P

With her 10years as an UNDERWRITER, I would assume that she’s competent in risks analysis, good in maths, familiar with either big or small illness as concerned with her job and know what kind of people with what kind of illness will die how early. That’s it.

I cant be fully convinced that she’s as FAMILIAR as me in terms of knowing the “loopholes” or “bad stuff” etc or understanding how insurance works and how they can help people because

1)I’m the one who delivers the policy contracts and well-versed enough to explain to the client(of course I’ve read them umpteen times too)

2) I’m the one who do claims for the clients. So with experience, I will know why some claims will be paid while some cant, etc. Though for more complicated cases, companies will request for medical reports. And that is up to the CLAIMS department to access already.

So I would THINK I will understand how insurance WORKS and how insurance can help in our lives BETTER than someone who spend 10 years behind a desk to calculate about the probability of how early and easy can one die because of some silly illnesses and the qualitative and quantity risks involved in claims payment.

If she worked 10 years in the CLAIMS DEPARTMENT instead. Ahh…probably I will give her more credit. Because she would have admitted more claims than I would have experienced. And she would have know the percentage of people who have successful claims.

But I tell you, even if she really work 10 years in the CLAIMS department, she also cant give me that face. WHY? Because it’s not the “Insurance” fault that one’s claims cant be paid. The prospect might not have bought the IDEAL TYPE of policy to suit her needs. Problem might lies with, 1) she has not enough budget, 2) her application was denied because of any health conditions, or 3) the advisor did not do a good job by giving the right recommendations.

It’s very difficult to get one fully covered because it involves quite a percentage of one’s money. Normal beings like us still need liquidity. The richer one is, the easier it is to get himself fully covered since he dont need that much liquid cash. But again, when one is rich, he has more to lose, and has more to consider, and thus need more coverage.

I’m a believer of insurance and that’s why I’m in this line. I truly believe it can help people. Because of 1 simple fact. That is, we’re not immortals, and life is not an absolute. Life is unfair, and we’re all humans reincarnated to go through birth, aging, sickness and death(生,老,病,死). The Buddhists say we’re incarnated as humans to repay debts(还债), the Christians say we’re repaying our sins. Whichever way you call it lah. I just know nobody can live forever and nobody can guarantee anyone that he/she wont fall sick for all his/her life.

So if the money you pay every month generates you an interest higher than what you normally can get from banks, and where major illness or death occurs, you can get an even bigger sum of money, then why not?

But while we’re at the topic of insurance, I have to be frank about Mrs “Know-it-all”‘s statement. True. “Insurance” are not perfect. They have their loopholes. Not every claim will be paid. Not every case will be accepted. Not every sickness can be claimed. Again, it’s the same logic. Life is not an absolute. It’s utterly impossible to cover every little aspect or pay up the cost of every tiny minor illness when the probability is 99.99999999%. How many many of us never see doctor even once in their lifetime? I’m sure everyone of us sees doctor now and then for tiny minor stuff.

SO if every little nitty gritty stuff can be claimed, then they can never be enough pool of money for the catastrophic, needy people who genuinely needs them. And not to mention, there wont be any company who wants to do a business which 100% will fail. Confirm “toh” one lor.

There should be a win-win situation and not a one-sided win-lose situation. Insurance is a risk-transfer tool and it’s something which we can contribute together to form a pool of money to help one another in times of need and NOT a tool to let trashy, greedy and stingy beings take for granted and take advantage of.

I do understand there are different products in the market. While we remain competitive, it’s up to you to access and compare. Some will be better, some will be more inferior. Most of them have the basic features.

Sometimes dont understand the things which some people are thinking. They expect to pay a $20+ per month and the company would pay everything including every outpatient trip to their family doctor because of a mere flu or fever outbreak.

Common lor………..

Or they expect to pay only a $100 every month for 10 years but yet expect a $100K coverage with a 20% growth at the age of 45(not young leh..)

Can! Can be done. Regular Investment-linked, via dollar cost averaging, tentatively in a positive climate(not a guarantee). Traditional plans cant give that high a return in 10years because mostly are fixed investments in bonds. Bonds cant give you that high a return at such a short time. And definitely not that high a coverage for middle-aged people of 45 and above. Want asset accumulation AS WELL AS high protection? Only via investment-linked.

Then they complained about the low guaranteed amount and that everything is uncertain for investment.

Sometimes really is cough blood, I tell you.

Give peanuts, expect to get dragon.

There is another way to achieve high coverage and a considerable amount of asset accumulation. That is by buying term and investing the difference. But to achieve a good 20% growth in 10years, besides a good eye in investing, you also need a bigger capital for unit trusts, shares, ETF(exchange-traded fund), etc.

$100 a month.

HOW TO INVEST??????????!!!!!!!!!!!!!!

Such a small capital…..unless buy Warrant. But is also dependable on investment climate and need abit of luck. It’s like buy big or small. And needs constant lookout on pricing and STI..and to do that for 10years?? ZzzZzz

Funny lah some people. All sorts of different people on earth.

SanLu Milk – AIA – GEL

Sigh. It seemed there are not much positive news when one open the newspaper nowadays. All the market figures have been a sea of red with an occasional green. It’s really quite depressing. At this period of time where I feel all of us must stand together to survive this crisis, there are more depressing news such as the toxic Sanlu Milk products from China and natural disasters here and there. Is this really a bad year for all of us? I’ve read that 52,857 children has been hospitalised, 4 children have died and 104 are still in serious condition, with symptoms including kidney stones. It suddenly struck me deadly that so many products have milk in it, which might cause the contaminated products to flow into Singapore unknowingly.

The follow items have been recalled due to the possibility of containing the toxic milk.
-Mento’s yougurt bottle
-Oreo wafer sticks
-Dove chocolate
-Dutchlady sterilised milk
-Wall’s All Natural Mango
-Mini poppers Ice-cream
-Magnum Icecream
-Moo Sandwich Icecream
-Mini cornetto
-Youcan Icecream

Please avoid consuming them and spread this to everyone you know.

China….What are you doing???? The overpopulated country who always prided themselves on their achievements but hardly sorry for the heinous catastrophes they have caused! Incidents like that are not the first time already! And this time we’re talking about babies. Innocent and fragile lives who step into the mortal world with a fresh start. They cant choose what to drink, only to consume whatever their parents gave them. The parents must be heartbroken, to think they fed poisonous milk which harms or take away their babies’ lives by their own 2 hands! How would you feel?? This is not an issue whereby money can make amends.

Many people especially my clients have been asking me what will happen to AIA and should they surrender their policies with them given the current situation for AIG. Yes, Im from Great Eastern, you forgot again, dont you? =P

This is like the 2nd crisis of AIA after their “Critical Year Option” storm in Jun, 2003.
Im really shocked of AIG’s situation because….they’re the largest insurance company in the whole world! Oh my god, really. Neither happy nor sad. Whether you like it or not, we know that this symptom really hints that whole world might be taken by storm, DESPITE their exposure to the Sub-prime issues or Lehman Brothers and its affiliates. Because if AIA’s insurance claims cant be approved….I dont even dare to imagine what will happen. They are distributed across 130 countries and god knows how many policyholders!

Im really quite surprised that so many Singaporeans are so..prudent. Hmmm…of course first thing first, I will ask what kind of policies are that, the remaining terms of years etc, purely for curiosity. Some agents loitters around outside AIA passing namecards soliciting business. Geez…how low can they get. It’s like 落井下石. There are even some unethical agents persuading AIA’s policyholders to surrender their policies. Please dont heed their advice. As of now, I still dont see the need to go surrender AIA’s policies especially when it results in a loss of coverage or cash value. Not a wise move at all. The situation is not as gloomy as it may looks.

Firstly, the U.S government has given an unprecedented loan of up to 85 billion dollars to AIG to help it tide over it’s cashflow problems. As the term “cashflow” suggests, it means they did not have enough time to liquidate some of their assets to pay the liabilities which they’re guaranteed to pay for sub-prime borrowers as guarantors, and not that they’re teetering on bankruptcy.

Secondly, for a country as Kiasu, Kia-si as Singapore, how can the Singapore Authorities easily allow such risk to easily penetrate Singapore? MAS, the Monetary Authority of Singapore MAS requires all life insurance companies to have a minimum capital adequacy ratio of 120% for their life funds. What it means? It means, it’s like a compulsory pre-deposit which you have to give me, erm no, to PLACE with me AS ASSURANCE if you wanna earn money from my citizens thus reducing the income tax and GST(goods & services tax) that I can earn from them via their income and consumption. *rOllz eyes*

Although, nothing is 100% guaranteed in this world. The Lehman Brothers has been standing there erect and tall for the past 100 years and more, yet it has fallen just like how people thought Titanic will never have sink. AIG and AIA is based in U.S. There’s no doubt they would be most affected. Generally, the closer one links to U.S, the greater will be the impact, just like earthquake. Except that earthquake links by territory, this links by the area of investments and the country of origin.

When one is headquartered in U.S, it makes sense that if it falls into a financial turmoil, the last thing it can do after approaching lenders/government for assistance or selling away liquidable assets, is to close down branches they have in other countries. The smallest country perhaps, or either, the least profitable branch, to get some cash first. So AIG and AIA in Singapore, I wont swear on my life that it’s really going to be all rosy and sunny ALL THE WAY. It’s OK now and what lies in the future…seriously nobody knows….hopefully there’s a silver lining.

I certainly hope AIA is as rich as it portrays and that AIA Singapore’s top man, the executive vice-president and general manager, Mark O’Dell has resigned from the company with immediate effect truly by personal reasons like what AIA claimed and not otherwise. This guy, really shouldnt leave so urgently at this time.

Finally, some asked, “So how is Great Eastern doing? Any danger looming? Why has Mr Tan Beng Lee to retire as Group CEO at this period of time?”

To quote our M.D

Dear all Agency Leaders
Financial markets have been affected by the financial turmoil in the USA.
Great Eastern is pleased to inform all our policyholders that we have more than enough
capital and financial resources to honour all our obligations (ie claims, maturity
proceeds, surrenders, and other liabilities) to policyholders at all times.
MAS requires all life insurance companies to have a minimum capital adequacy ratio of
120% for their life funds. Both Great Eastern Life and OAC have a capital adequacy ratio
of over 250%.

Our life funds have insignificant exposure to sub-prime and Lehman securities. The
majority of our life funds is invested in fixed income securities, including corporate and
government bonds.

Tan Hak Leh
MD, Singapore
Great Eastern Life Assurance Co Ltd
Reg. No. 1908 00011G

Time to 老黄卖瓜,自卖自夸? HAHAHA.


Great Eastern Life(GEL) is very solvent.
Like what our M.D said, GEL has more than 250% capital adequacy ratio, more than enough to cover all claims or maturities. Strong market share of 28.7% in terms of weighted premiums of new business. Earlier this year, GEL Declares Special Bonus of $287 Million for 2007. For your info, this Special bonus are not those in the policies. These are extra bonus which GEL declared to their policyholders on their own freewill. Also, few months back GEL gives $500,000 to NUS to establish bursary in memory of the late Howe Yoon Chong. This year May, GEL has pledged 2 million RMB to ChongQing Government for the earthquake. Just 1 week ago on 15th Sep, GEL still continue to distribute its high annual dividend payout of 4% GreatLink Global Real Estate Securities Fund even though subjected to the harsh market economy. This year JUNE, GEL’s limited period product SupremeSaver, a fixed deposit product offering high annual projected interest of 3.18%, 3.28% and 3.38% consecutively(depends on capital amount tier) has also fetched more than 600million in just that 1 month. Besides that, as this year is GEL’s 100th birthday, GEL is celebrating their birthday with a Centennial Wish Lucky Draw by giving out $10,000 every month for this whole year for lucky policyholders and also another $10,000 every month for lucky GEL life planners.

Not trying to praise my own company for it’s achievements but these are plain facts and not of biased opinions. Moreover, does it seem to you a company which is tight on it’s finances will be so generous in so many aspects just for appearance sake? Probably not.

CEO Mr Tan Beng Lee’s leaving
Ahem. A better word to replace “leaving” would be “retired”! He’s already 65 and has worked in GEL for 8 long years. Give him a break ya? Lol. Mr Ng Keng Hooi, 53, will succeed Mr Tan Beng Lee. He will join Great Eastern Holdings with effect from 1 December 2008. Mr Tan will help ensure a smooth transition in leadership. Therefore you can well deduce such a decision cant be made in like few weeks or months? GEL cant possibly anyhow find a Ah Mao Ah Gao to replace the CEO immediately right? We, the planners have know the news around 6months back. Which means the decision might have been planned around 1 year ago.

GEL is stable and has strong financial backing.
GEL is based in Singapore, a company with strong market share and a subsidiary of OCBC bank. GEL also have other branches in other countries like Malaysia, Vietnam etc. So to speak, to assume the worse, GEL will close down other branches in other countries first instead of closing it’s headquarters in Singapore, by which OCBC will strongly discourage. GEL is an old and established company, turning 100 years old in 2008, with prudent and conservative approaches in all their management of assets and life funds. Only an insignificant 0.47% of GEL’s investments are with Lehman Brothers so we’re not really affected. Like what our M.D said, majority of GEL’s own life funds is invested in fixed income securities, including corporate and government bonds. You will really learn to appreciate the beauty of diversification and investing in bonds when economy hits low.

I would say GEL is a very very very prudent company, to follow after the style of OCBC bank. Like you can see when almost every bank and insurance company in the country has launched their China, Korea or Vietnam funds, OCBC and GEL is always the last to launch. Lol. But they’re prudent! Most of the times, GEL’s project returns on illustrations are very conservative but they often under-promise and over-deliver. All the past records can show and I’ve seen them before.

I meant to write this entry few days back but simply cant find the time. And this entry took longer than I’ve expected. Hopefully it serves some assurance to all of you out there, no matter you’re AIA, Prudential, NTUC or Great Eastern policyholders. We’re all 1 big family. 唇亡齿寒。

Ah seriously I have no time to lament more already. If you have read this entry up till here, I appreciate your patience and attention. Thank you! Hope I haven bore you. Lol. Though most of my friends wouldnt be that interested in finance news and stuff I guess. Haha. Ah yaya I gotta rush for my appointment already. A referral by my brother. Hmm.. By the way, some of my friends received my sms about a car showcase recently and outright assumed Im moonlighting or changed job when they didnt even have the patience to read till the end of the message. Lol. Im simply forwarding the message for my brother who is a car agent now. He’s doing really great now, Im happy for him. Therefore anyone wanna buy cars, I can introduce him. He might be able to give a better deal with more freebies etc. As for me, Im still with GEL. Time flies, coming 4 years+ already with GEL. Therefore any queries can always ask me, I’ll be happy to answer. Of course even more happy if you have business for me ya!

Haha Okie Cya. =)

(P/S No time to check the entry! Shall check tonight!. Meanwhile, pardon any typo~)