Insurance 101 in Singapore

What is insurance?

Protection Money paid. You go temple (or church, or mosque) and you donate a sum of money monthly.
If nothing happens, the money is gone.

What is TPD (total permanent disability)?

1. Take a brown paper bag.
2. Throw in 2 arms 2 legs and 2 eyes into the brown paper bag.
3. Give it a good shake.
4. Take any 2 out of the paper bag.

Any two, and you are considered TPD, total and permanently disabled.

What is insurance endowment plans?

Money given to a big boy who take your money and buys term protection for your life and then give the rest to buy stocks. He earns from the stock, and return you a little money and expect you to be happy about it.

So its like compulsory savings, but with a big chunk to the salesman.

What is the best way for buying insurance?

1. Buy hospital insurance. (if you are singaporean, get a good private medishield plan from insurers using your CPF Medisave money)
2. Buy some critical illness.
3. If you have parents or children who depends on your salary, buy some term on your life.
4. Buy some personal accident plan
5. Do NOT buy any endowment nor life insurance plans. They are wasting your money.
6. Take the money saved and buy stocks, or if you do not know how, go buy stock ETF. 
7. Google for stock ETF.
8. Go Robo investor=  StashAway, MoneyOwl, etc etc

Where do I buy personal accident plans?

NOT from life insurance companies like AIA, Prudential, Great Eastern, NTUC Income, manulife, AXA, etc.

Buy from a general insurer, where the personal accident plans are so much cheaper. Its the same general insurers that handle insurance for motor cars, travel insurance, home content insurance etc.

What is personal accident and what is covered?

So should I buy whole life plans or endowment plans?

No. you have not been reading well.

Buy term plans (only protection with no cash value) and invest the difference in ETF or robo-advisors funds.

Do NOT buy whole life or endowment from insurance companies.

Should I buy any ILP or Investment linked Plans from my insurance agents?

If any agents recommend you ILP, stay away from them.

These plans are the worst in terms of charges, and has the highest commission for the agents.

Google them. ILP are the worst villains of this industry. 

Any agents who promote them are considering their very high commission level.

Maldives and my sore feet

just back from the Maldive beaches.

and oh boy. I have lots of cuts in my feet and legs. cut from snorkeling, from walking along the beach.... the beach is not exactly pure white sand.

but mostly from stumbling on the rocks just in front of my room.
heehee.

Foot Spa for my feet?

I was wondering my feet is so painful and toughened from the barefooted walking and thinking and pondering on getting these foot peel masks in America. (click on the link to see what i mean)
Hows that? :D

anyone tried foot spa for your tired feet?

i believe its those type of foot care exfoliating masks that help to peel off the hardened layer skin. lol sounds painful.

btw, these stingrays are really cute seeing from far.
https://photos.app.goo.gl/UBeXjoLHja2wXVDB9

and yes, Baby Shark... do do dooo.....